INTRODUCTION

The concept of feasibility in business refers to the identification and evaluation of the
practicality and viability of a proposed business idea or project. Feasibility analysis are
conducted to assess various aspects such as market demand, financial viability, resource
requirements, potential risks, and overall sustainability. The goal is to determine whether the
business concept is feasible and can be successfully implemented. By conducting a feasibility
analysis, businesses can make informed decisions and assess the likelihood of achieving their
objectives before investing significant time and resources. It's an important step to minimize
risks and increase the chances of success.

Feasibility analysis is a process used to determine if a project or business idea is viable and
achievable. It involves assessing various factors such as market demand, financial resources,
technical requirements, legal and regulatory compliance, and potential risks and constraints.
The purpose of feasibility analysis is to evaluate the potential success and profitability of a
project before investing significant time and resources into it. Feasibility analysis is a process of
evaluating the practicality and viability of a proposed project or idea. It involves assessing
various aspects to determine if the project can be successfully implemented.

TYPES OF FEASIBILITY ANALYSIS

1. Financial Feasibility: This type of analysis evaluates the financial viability of a project. It
assesses factors such as cost estimates, revenue projections, profitability, return on investment,
and potential funding sources.

2. Commercial Feasibility: Commercial feasibility analysis focuses on determining the market

demand for a product or service. It considers factors like potential customers, competition,
market size, target market, and market trends.

3. Economic Feasibility: Economic feasibility analysis reviews the economic impact of a project.
It considers factors like employment generation, income generation, tax revenue, cost-benefit
analysis, economic growth, and economic sustainability.
4. Legal Feasibility: Legal feasibility analysis evaluates the compliance of a project with legal and
regulatory requirements. It assesses factors like permits, licenses, intellectual property rights,
zoning laws, contracts, and any legal barriers that may impede the project's implementation.

5. Resource Feasibility: Resource feasibility analysis evaluates the availability and adequacy of
resources required for the project. It considers factors like financial resources, human
resources, equipment, materials, technology, and any resource constraints that may impact
project implementation.

ADVANTAGES OF FEASIBILITY ANALYSIS

1. Identifying potential risks and challenges: Feasibility analysis helps to identify any potential
risks or challenges that may arise during project implementation. This allows organizations to
proactively address these issues and develop strategies to overcome them.

2. Assessing project viability: Feasibility analysis helps organizations determine whether a

project is technically, financially, and operationally viable. This helps avoid investing resources
in projects that may not be successful or sustainable in the long run.

3. Informing decision-making: Feasibility analysis provides valuable insights and data that can
inform decision-making processes. It helps organizations make informed choices about whether
to proceed with a project, modify its scope, or abandon it altogether.

4. Minimizing resource wastage: By assessing the availability and adequacy of resources

required for a project, feasibility analysis helps organizations minimize resource wastage. It
ensures that resources are allocated appropriately, reducing the likelihood of over- or
underutilization.

DISADVANTAGES OF FEASIBILITY ANALYSIS

1. Time-consuming: Conducting a thorough feasibility analysis can be time-consuming,
especially for complex projects. This may delay project initiation and potentially impact overall
project timelines.

2. Subject to assumptions: Feasibility analysis relies on certain assumptions and projections

about future outcomes. If these assumptions turn out to be incorrect or inaccurate, it can affect
the validity and reliability of the analysis.

3. Costly: In some cases, conducting a feasibility analysis can be costly, especially if it requires
hiring external consultants or experts. Small organizations with limited budgets may find it
challenging to allocate resources for feasibility analysis.

4. Limited scope: Feasibility analysis focuses primarily on determining project viability based on
technical, financial, and operational factors. It may not consider other important aspects such
as market demand, social impact, or environmental sustainability, which could impact the
overall success of the project.

A business plan is a formal written document containing the goals of a business, the methods
for attaining those goals, and the time-frame for the achievement of the goals.

A business plan is a document that explains how your business operates.It’s the roadmap for
your business. The outline of your goals, objectives, and the steps you’ll take to get there.

A business plan can help you explore ideas, successfully start a business, manage operations,
and pursue growth.

ADVANTAGE OF BUSINESS PLAN

Setting goals: A business plan helps you set specific, measurable, achievable, relevant, and
time-bound (SMART) goals for your business.

Resource management: A business plan helps you manage resources efficiently, which can help
reduce costs and maximize productivity.

Understanding competition: A business plan helps you better understand your competition.
Communication: A business plan helps you communicate internally and externally, which can
enhance your relationship with customers.

Productivity: A business plan can help you simplify how you and your employees get work done,
which can reduce inefficiencies and missed deadlines.

DISADVANTAGE OF BUSINESS PLAN

Business plan becomes outdated

Market conditions change quickly, so a business plan may be out of date by the time it's ready
to launch.

Focusing too much on the plan

Focusing too much on the business plan can cause you to miss out on opportunities or make
costly mistakes.

Spending too much time analyzing performance

It's easy to get caught up in analyzing past performance, but this can prevent you from finding
other ways to move the business forward.

Failure to anticipate problems

Not anticipating growth opportunities or planning for negative events can lead to serious
consequences, such as loss of customers, lower profitability, and inadequate asset protection.

Financial risks

A startup needs money to grow, pay wages, and develop products and services.

IDENTIFIED BUSINESS

PROVISION STORE SHOP:

. A provision store, also known as a convenience store, is a type of retail outlet that primarily
sells a variety of common consumer products and necessities. Setting up a provision store is a
commitment to serve the local community.

A provision store is usually a store that is smaller than a supermarket but has almost all, if not
all, the basic necessities of living, which include provisions, toothpaste, soft drinks and
beverages, bathing and washing soups, body spray, baby diapers, biscuits, bread, body lotion,
umbrella, bulb light, tissues, insecticides and lots more that are used in the day-to-day lives of
people.

Starting a provision store business is vital because is a lucrative business. This is because people
cannot live without these basic necessities you provide. So a provision store grants you a steady
source of income while still solving the daily problems of people. And this can only be possible
when you maintain a steady supply of goods and services which you provide to your customers.

A lot of people need basic house hold items to use on a daily basis but are not able to buy in
bulk and store at home, therefore it is a relief to buy a single item instead of buying it by the
dozen or much more.It also gives them the opportunity to buy different types of products
without spending a lot of money in the process.For example a person can buy an item each of a
soap, battery and toilet rolland would have bought what was needed for that period or that day
without a lot of money.

Some times some people get home and realize they have run out of some products at home.
For example they may want to have a cup of tea and discover they have no milk or sugar.At this
moment instead of going to a far distance especially at night, they can easily go outside their
gate or home and walk up to the nearest provision store in their area and buy what they need.

Opening a provision store can be a lucrative business venture, especially if you live in a new
area with little competition. When people are looking for better products that can't be found at
the corner trader or local shop, they typically head to small shop, also called mini provision
store. Such retail establishments sell good products that are uncommon or not carried by
bigger stores. To set up your mini provision store you'll need to address the legalities, find a
location, acquire equipment, choose suppliers and advertise your business.

EQUI MENT AND MATERIALS

When you have got your shop, you will now have to equip the shop with necessary equipment
and materials that will be needed for the shop.You will need to get a carpenter to build up
some shelves for you as this is where the products that you have bought will be place and
displayed for sale.You should make sure that the carpenter makes use of good wood so that
you will not have problems of rebuilding shelves soon again for the business as this can disrupt
the flow of your business.You will also need at least a table and chair for customers to place
their goods on and maybe to sit down while waiting to buy their products.Also packaging
materials like bags will be needed to give customers to carry the products they have
bought.Well as can be seen this is a good business to do and you can make some money from
it. You have to find out and decide if you will register the business now or later when you
expand the business after doing a feasibility study for your business now and when you plan to
expand.An important aspect of the business for you to succeed and grow is to have agood
customer service by treating your customers in a nice and good way to make them keep coming
back and patronizing your business.

BUSINESS PURPOSE

Providence provision store provides shop and products service businesses with high-quality
products at unparalleled value. Serving the community and the immediate surrounding area..

It will be implemented and based in kano, we’re dedicated to keeping businesses in Kano. We
want to emphasize the communal aspect of buying by connecting consumers with local shops.
We believe this focus will help us appeal to our neighbors shop and build a valued, authentic
business.

OUR MISSION
"To provide exceptional provision experiences by offering cheap products, excellent service,
and a welcoming atmosphere that keeps customers coming back for more.

OUR VISION

"To become the go-to destination for our products lovers in Kano, known for our
mouthwatering and cheapest products, and memorable shopping experiences.

LOCATION AND TARGET MARKET

When starting a new business enterprise one important thing to consider is to study the
location and the environment of the business. Our PROVISION STORE will be located at
Maimuna Plaza opposite sadaraki Store Zoo Road, Kano, at the commencement of the business.
This location has been selected to tap into the opportunity and potential of this location due to
high influx of people.Our target market cuts across all societal class which are the upper class,
middle class and lower class because the prices of the products would be affordable to all with
an unparalleled customer service.It was observed that about 40% of the needs are been met by
traders in and around the location. Our market is estimated to be about 15 million naira
annually.The market share = 15,000,000 / 5 = #3,000,000. But since we are starting the business
newly, we would like to work with a market share of #4,500,000. Our sales forecast for the
year is therefore #4.5 million naira. We hope it increases at the rate of 15% annually over the
next five years.

MARKET ANALYSIS

The market survey showed a prevailing trend in the area with a huge potential. There is an
opportunity for the provision store business to carve a niche for itself in the market its planning
to enter. The survey also shows some segmented and unmet demands in some sectors of the
market such as marginalization of some societal class, hospitality service.The cost of starting
this project is moderate, the project is expected to generate high profits in the long run.

MANAGEMENT TEAM
The major aim of this provision store business is to make customers satisfaction our utmost
priority and we have dedicated and The business is a partnership business owned by Adam
Jamilu Ibrahim, Abdulrashid muhd Abdulkadir. The business would both be coordinated in
active capacity by these individuals. Adam Jamilu Ibrahim is the general manager of the
business. He is a degree holder from YUSUF MAITAMA SULE UNIVERSITY. He is an experienced
individual who has worked with various organizations such as coca cola as a production
supervisor. Abdulrashid muhd Abdulkadi is the accountant and doubles as the operations
manager of the business. He is a degree holder of Business Administration/ Entrepreneurship
from YUSUF MAITAMA SULE UNIVERSITY KANO and he is a man with vast experience as he has
worked with various government agencies alongside running a small businesses.

STORE/BUSINESS PROFILE

• Store /business name: Mr Jabs provision store

• Size of STORE: Medium Size provision store

• Products: Food items, minerals and many more

• Location of Store/business: Zoo Road, Kano

• Partners: Sole proprietorship (one man business)

STORE /BUSINESS OBJECTIVES

▪ To provide high quality and affordable products for our customers.

▪ To satisfy and provide quality service to our customers.

▪ To provide comfortable and conducive environment for our customers.

▪ To provide dedicated waitrons to our customers to serve them better.

committed individuals who are going to oversee coordinating the activities of the provision
store business.
PRODUCT CHARACTERISTICS

• A unique provision store business concept in town.

• Wide varieties in cheaper products.

• Special features – serving of customers .

• Special discounts and surprise packages during festivities.

MARKETING PLAN

Positioning Strategy

By positioning ourselves as the champion of provision, its inhabitants, and its entire products
scene, we’ll be synonymous with provision store in the area.

As a full-service food and beverage provider, we’ll take the headache out of having to work with
multiple providers and offer immediate, fresh, and locally-sourced products for our clients. That
way they can focus on creating a great guest experience without having to worry about when or
if their next patronize.

How Much Does it Cost to Stock a ConvenienceStore?

Number of roductsThe number of products you choose to sell in your convenience store willinfluence
the cost to stock the store. Very small convenience stores may stockas few as 500 stock-keeping units,
or SKUs, according to the businessappraisal firm JSO Valuation Group. JSO reports that a typical
conveniencestore, though, carries nearly 2,500 different products, and larger conveniencestores, such as
those at major truck stops, may carry even more. roduct DiversityIn addition to the number of products
your convenience store carries, the typeof product will also play a considerable role in how much it costs
to stockthe store. Many of the stock-keeping units will be candy bars, pastries, sodasand other
inexpensive items commonly available for as little as $10 per boxfrom local wholesale clubs. Many
convenience stores carry expensiveelectronics, though, and a single case of cell phones may carry a
wholesaleprice tag that reaches into the hundreds or even thousands of dollars.Negotiating the sale of
an average-sized convenience store, includinginventory can cost over $100,000.Financing
OptionsThough it will likely cost tens of thousands of dollars to stock a conveniencestore, you may be
able to secure financing to help with this cost. Somewholesalers offer credit, allowing you to pay for
inventory within 30, 60 oreven 90 days. In some cases, distributors allow you to return
unsoldmerchandise or exchange it for credit toward future purchases. Use cautionwhen negotiating this
type of arrangement, known as a trade-back agreement,with vendors, because some vendors may
require you to purchase a larger volumeof merchandise than the unsold volume you
return.ConsiderationsThough major factors like the size of your convenience store and the types
ofproducts you carry play a considerable role in how much it will cost to stockthe convenience store,
other factors may affect the price you pay for goods.Prices for many goods vary by region, so stocking a
convenience store in amajor metropolitan area may cost significantly more than stocking a store in
arural location. Likewise, price fluctuations in commodities like milk andcorn, critical ingredients in many
convenience store confections, can cause the price for stocking the convenience store to varyHow to
Determine the rofit in a ConvenienceStoreOwning a convenience store can be a lucrative business
venture. This type ofbusiness is usually either open late or 24 hours a day. You can offer yourproducts at
a high markup and still make solid profits simply because of yourconvenient location and hours of
operation. By determining your gross sales aswell as all of the various expenses that your business incurs
over a period oftime, you will be able to conclude what kind of profit you convenience storeis actually
making.Calculating Gross SalesDetermine a time period within which you would like to calculate your
profits.Then add all of the totals from the primary revenue streams that yourconvenience store
generated during that time period. The final number that youcome up with will be your gross sales.
Remember, this is not an indication ofyour profits yet.Determining Gross rofitTo determine your gross
profit, you will need to calculate the wholesale costof any goods sold that you purchased during the
time period you are workingwithin. Then, you must calculate the dollar amount of total refunds that
weregiven during the same time period. Add the two numbers together and thensubtract the total from
your gross sales in order to get your gross profit.Determining Operating rofitTo determine your
operating profit, you will need to first calculate youroperating expenses. These expenses are classified as
such because they arevital for running your business. They may include a rent or mortgage
payment,wages, insurance, utilities, repairs and inventory. Determine the amounts forall of these
expenses within the suggested time period and add them togetherto get your total operating expenses.
Subtract that number from your grossprofit to get your operating profit.Other rofits and ExpensesThe
last step in calculating the true profit potential of your business is toadd non-primary sources of income
and subtract any non-operating expenses fromyour current operating profit. Non-primary sources of
income might include the

fees you earn from having an ATM, gumball or soda machines, or arcade games.Non-operating
expenses include income tax and interest. Add the sum of thetotals of your non-primary sources of
income to your operating profit and thensubtract the sum of your non-operating expenses. The number
you will be leftwith is your net profit after taxes and the only true indication of what kindof profit you
are making within a determined time period. BUSINESS PLAN1.0 - EXECUTIVE SUMMARY 2.0
INTRODUCTION2.1 THE COMPANY2.2 THE OWNER 2.3 THE BOARD OF MANAGEMENT 3.0
PRODUCTS/SERVICES DESCRIPTION 4.0 MARKET ANALYSIS 5.0 MARKETING PLAN 6.0 FINANCIAL PLAN
7.0 APPENDIX (YOU CAN PUT ANY THING IN THE APPENDIX)

w more

. Jameel Adam Ibrahim

Grocery Store Project Report PDFWell, then it’s a good time to start a Kirana or grocery store. It is a
businessthat is in evergreen demand. All other businesses may shut but a grocerystore that provides
basic food items only can keep running. The demand for food ingredients and items will never come to
an end in India. In India, the population is increasing day by day, and the majority havefunctional
purchasing capacity, so it’s good to open a grocery store andtake advantage of such conditions.With this
new age group and increasing money spending capacity. Nowpeople want some comforts like modern
retail format stores equipped with AC. People like the grocery shop that provides them with all
consumer goods (like their daily needs) in one place, stacking properly on shelveswith rate tags present
on top, more cleanliness and salesperson present toattend them.Therefore, if you are thinking of
starting a business, then opening a Kiranaretail business store is a good idea as you can get a very
handsome profitand get good returns with small investments. If you want to take a loan for a grocery
business, then you can avail our services. Our experts can prepare and give the best project report of the
grocerystore for you so that you can take advantage of bank loans, Mudra , PMEGP and other
government schemes.Kirana Store Business PlanA clear project report of Kirana Shop is crucial for your
success as an entrepreneur.You wish to contemplate some important points in your report, like your
initialcosts, your target market, and how long it’ll see you interrupt even. Draft a proper Kirana Shop
project report that describes your expected income, product and repair lines, expansion plans, and
other details of your business. A well-drafted projectreport will facilitate you in applying for any bank
loan.Can i start Grocery Store in India with Low Investment?India’s retail industry is a fast growing
inductry in the entire country. It has a currentworth of $600 billion. This sector is going to witness the
growth of $2 trillion in theupcoming years. In the years of growing competition, it is dif cult for small
business tosurvive in the market. You can thus increase your chances of success to choose thisbusiness.
For instance, you can open a grocery store and specialize in organic and localproducts. You will be able
to meet the growing trend and also keep your businessrunning smoothly.

Ad
Download to read ad-free

You can also start a grocery shop that meets demand of ethnic group. You can do thisby stocking
popular products as per your demography, and hire staff to communicate inlocal language. When you
will do market research and focus on a particular niche, youwill be able to open a grocery shop with low
investment and have more chances ofsuccess.What is a grocery store?A store that sells food and
household items is a grocery store. It is very common inevery country to buy groceries from small stores
rather than buying it from largesupermarkets. They are basically family run stores and specialize in
specic types offood selling.For instance, there can be a grocery store that specializes in selling spices or
freshproduce while other sells pulses. Grocery stores in India pffer wide variety of items likemeat,
grains, spices, or household items. There is another section of prepared food likedrinks or snacks.
Grocery stores may be open for all day long or work on specic hours.They plan an important role in
our daily life and are integral part of our culture.Grocery Business Background in IndiaIn grocery stores,
residents earlier kept open air markets to sell goods. It was known asmandi. They sold fresh produce,
staples amd spices. This trend then vanished. As aresult grocery stores became popular. Due to
increased demand for groceries in India,people preferred variety and convenience. Thus grocery shops
became popular. Nowgrocery shops offer comfortable shopping experience to customers.Objectives Of
Grocery Stores in IndiaThe first and foremost objective is to obtain the necessary funding. Thusyour
grocery shop project report should have a good proposal to helpyou arrange funds from the bank. Your
grocery shop must soon become a well-established and recognizeddestination for all your customers. It
should have all the items from basicneeds to household.You must try to make your annual turnover
rise above Rs 4 Lakh andmore.The tendency of your grocery shop should be to hire staff at least of 5
people for your departmental store.As soon as the business starts growing, you must tend to repay
the debtof the bank so that you can either refinance your store or get tension free by repaying the
complete debt.

Ad

Download to read ad-free

You must also set up a budget for advertising for your grocery store business plan.Factors Affecting
Grocery ShopFactors affecting Kirana’s shop business include living standards, product preference, area
location, urban and rural area, and how much, and how oftencustomers buy things.The above factors
affect your grocery retailing business and help you to understandyour success rate in the industry. At
starting, understanding the customer retailneeds and requirements, and finding out how your
competitors are operating in theorganized retailing and unorganized sector market, their strategies,
their advertising policies, and the customer’s response towards your store products ascompared to
competitors are crucial.Kirana Shop is a low-margin business, and making mistakes in inventory leads
tozero profit in this work. Make sure you have a good network with dealers as the packed products last
only for 20-25 days.Kirana Shop Business Target MarketYour primary target area should be around 1 or
2 kilometres. You should have allthe products in your store that fulfil all the daily requirements of the
customerswhile setting up the business. Your target group of the market is theneighbourhood area, so it
is advisable to choose the centre place of locality withmixed customers, i.e., of all age groups.How do i
start a Grocery Shop in India?You can easily start a grocery shop in India. You just need to know the
steps listedbelow for the same.Choose a suitable locationYou need to choose the best location for your
grocery shop. The best location is the onethat can give you access to your potential customers and you
have good space toaccomodate a large number of customers.Your location should have adequate
parking and be close to other business in thelocality. Once you choose the location, you have to avail the
permits and licenses fromthe local government for this business. This is a long time process that
involvesformalities to be done. Once you get the required approvals, you can strat with thesetting of
your grocery store layout and source suppliers. With this little planning, andhard work you can easily
start this business.Obtain licenses and permitsBefore you start grocery store in India, you need to get
some important license andpermits as you cannot start your busines without them. The licenses that
you require

Ad

Download to read ad-free

Ad

Download to read ad-free

Ad
Download to read ad-free

Owning a grocery store in India comes with a unique set of challenges. From nding theright location to
dealing with suppliers, here are six challenges that grocery storeowners face daily: Finding the right
location: A grocery store needs to be conveniently located near highfoot traffic. However, rental prices
for commercial spaces can be sky-high, making itdifficult to find an affordable option. Dealing with
suppliers: Grocery stores need to maintain good relationships withsuppliers to get the best product
prices. However, dealing with multiple suppliers can betime-consuming and lead to logistical
headaches.Managing inventory: Keeping track ofinventory levels is crucial for a grocery storeowner. If
the inventory is not managed properly, it can lead to lost sales and unhappycustomers. Hiring
staff:Grocery stores need to be staffed with trustworthy and competentemployees. However, finding
good help can be challenging, especially in smaller townsand villages.Dealing with competition: In
India, there is always competition from other grocerystores, as well as from large supermarkets and
online retailers. This makes it importantfor grocery store business owners to always look for ways to
improve their business andstand out from the crowd.Handling finances: Maintaining financial stability
is essential for any business owner, but it can be especially challenging for those in the grocery industry
due to the constantfluctuations in the prices of food and other supplies.Suitable location For Grocery
Store In IndiaThe prime location for your Kirana stores is near a residential area, within reach of
customers of every age group like not present on the first or upper floor andflexibility in opening times
of your shop.Retail Shop will help you to get income as so many people approach your Kiranastore. Also,
new age groups spend a lot of money if stores are nearby their placeand provide new technology like
digital marketing, AC, etc.Your General store project plan is preparing for setup now, decide how much
youcan spend at the start, and this all depends on factors like location, rent, theinventory you buy and
the staff or salesperson you hire.Setting up small-scale stores costs around Rs 50,000, but if you try to
open in somecentral location or any mall, you have to invest around Rs 2 lakhs or more or any problem
with money then you can take a loan from banks in a natural way. In thiskind of setup, you also need
furniture like racks and tables to display your productsto make them more appropriate for customers.It
is beneficial to keep stores neat and clean as this attracts more customers.Prepare a proper list of
inventory and products sold; keep watching your cash flowand maintain every stock.

Ad

Download to read ad-free

 What are the Licences and Legal Formalities for GroceryStore Business Plan?To set up a grocery store,
hire a CA, or contact for proper guidance and understandall legal formalities. To set up Kirana stores,
this is an essential requirement or mandatory like legal formalities and license, including entity
registration, availactive shop act service, FSSAI service, and GST service.What is the Products Pricing
Strategy In A General Store inIndia?Before starting up, always set the right prices, which attracts
customers to buy products more and more, this helps you make quick profits, and you efficientlymanage
your extra expenses. You can choose the markup(Cost based) or Margin(Selling price-based) method for
pricing and make a good profit. This also affectson revenue and profit of your Kirana stores.It is
advisable not to offer low prices as you cannot keep a vast inventory. Still, if you provide excellent
services and everything available to customers nearby, youget good profits. Generally, Kirana stores
have 25% to 40% margins.Which Products Should I sell at my grocery shop to earngood money?In your
grocery shop, you must sell all the products of convenience for human beings. You must lay special
emphasis on size, quantity, quality, etc. You can sellseveral items in your grocery store like spices, soft
drinks, tea, coffee, ketchup,hair oil, mustard oil, ghee, paneer, pulses, ready-to-cook foods, cheese,
butter,snacks, sugar and gram flour etc.If you want to keep more than this in your store then you can
sell corn flour, wheatflour, multi-grain flour, mustard seeds, etc.What is the minimum requirement of
staff in a GroceryStore In India? Now after setting up all, staff hiring starts which depends on your store
size.Whether one or two-person required or one person per square foot. Staff membersmust be
knowledgeable about products, well trained, motivated, trustworthy, alertand efficiently handle a large
crowd of people without any disturbance.Is GST Registration Compulsory For General Store?GST
registration is a must before starting Kirana stores in India and is also helpfulwhile paying taxes.A 15-
digit code number called GSTIN a shopkeeper receivedand certification are mandatory if your annual
turnover increases Rs 40 lakhs whileon the other side if less than it is not as compulsory.

Ad

Download to read ad-free

Generally, Non-GST companies are avoided today, as this leads to tax violations.Better to follow tax
rules for better stability in your business.FSSAI Registration For Departmental StoreFSSAI license is
mandatory for those starting this type of business in India. Thisensures that you maintain hygiene and
have standard operating proceduresmaintained at manufacturing and processing and at selling shops.
This builds up asuitable trust among customers, and they are satisfied during purchasing.How To Start
online Selling Of Grocery Items?These days digital business has a good impact on everyone as online
purchasing ismore comfortable. For this, you need to prepare an online website for your Kiranastore.
You can also register yourself with online selling apps like meesho or flipcart and sell your grocery in
abundance anywhere in the country.Online payment methods like Paytm, credit card, phone payments,
and other digital payment methods. Make products readily available to millions of retailcustomers.
These days customers feel happier having this type of facility.How to attract customers For Grocery
stores?Advertising is very much essential to attract customers in the retail sector. For this,your family
members, relatives, and friends help you by explaining individually toothers, or you say during
‘GUPSHUP’. Try to make customer relationships as thisis the best advertisement policy for Kirana stores.
Initially, you can set some offersscheme to lure more customers. The customers will start buying items
from your store and then will bring permanent clients.If you have vast stores, retail chains, and no
financial problems, go to the medialike TV, pamphlets, newspapers, hoardings, etc. Also, take the help
of a drive-bytraffic neon signboard to attract more customers.Profit margin Of General STORES in
IndiaProfit and margins vary between 2% to 20% depending on your investment andincome returns.
This type of Kirana store business has a good future. Expected togrow as we have a large population,
and it is increasing day by day, and everyone’srequirement also.Tremendous opportunities are available
in retail in India. Therefore you need ishow you attract customers, invest in better or improved
technology, and provide better infrastructures. Always stay updated to know new market products,
retailformats, and requirements.Conclusion Of Grocery Shop Project ReportWith a vast population
increase and a strong economy, there are more than 12million stores already available. Now people are
more interested in spendingmoney on daily needs. With so many opportunities available to attract
customers.For example, focusing on better infrastructure, customers need digital technology

Ad

Download to read ad-free

and availability at the doorstep. You can take advantage of the best opportunities by starting the
business ofspices and papad manufacturing along with the grocery business.SWOT Analysis Of Grocery
SHOPS In IndiaYou need to conduct a proper SWOT analysis for your business. It will help you to position
your grocery store and attract customers. Your location needs to addstrength to your new startup in
India.You can get decent leverages on your business. The risks will be less and you willhave profitable
earnings. You can appoint an HR and business analyst who canhelp you conduct the SWOT analysis
deeply.You also need to write a grocery shop business model that can help you achievethe objectives
mentioned above.StrengthsThe location of your grocery shop is your strength. You must choose it
wisely. Itmust be reachable for public transport especially. Your target audience offline isthe public
residing within a distance of 5 kilometres. If you keep the items of their need in your store and they like
your products and service. It will show goodresults to you soon.WeaknessA major weakness is that you
can invest in a grocery store according to the financeyou have but you might not be able to compete
with the multi-brand departmentstores selling grocery items as well. Their strategies attract the public
more. The public would like to go to a store that offers a wide range of products.OpportunitiesThe
opportunity that is available to a grocery shop entrepreneur is that you can sellgrocery items to a large
number of customers if not offline, then online for sure.You can explore the feasible studies and survey
the market first and then start thegrocery shop business in your city. You will get to know the reviews
andexpectations of the customers nearby.Threats Of Departmental StoreEvery new business has a major
threat of competition and business failing. Themajor threat is that your business may face an economic
breakdown. Another threat can be the opening of another grocery shop adjoining your shop or nearby.
Itmay attract all your customers. But if your customers have stayed satisfied, theywill buy from your
only.