How to open stationary store
Pens and papers are still very much in use even in the age of mobile phones, tabs and laptops in schools and offices. Wedding cards and curricula are still preferred in an old – fashioned way to be printed on paper. If you’re someone who’s interested in retailing and looking for an avenue to start a business, it would be just the thing for you to start a paper shop. Even in the competitive era of technology, stationery plays a significant role in our society. Market revenues from Indian stationery are expected to grow at a CAGR of 10.5 percent by 2024. The business is growing day by day and schools are also growing, supply demand is also increasing.
Things required to open an effective stationary store:-
1) Location (space): – In business location plays very important role. Your store should be close to your targeted market i.e. near schools, colleges or crowded neighbor hood. You won’t have to spend a lot on promoting your business this way. You can make or break your business from a location. You can also open your shop in a mall, which increases your chances of selling as even window shoppers would like to wander in and decide to purchase impulse stationery.
2) Suppliers: – Finding a supplier is a necessary task to successfully manage your paperwork business. You can search and compare different suppliers to get the best deal. You should choose a cheap supplier because, despite keeping your prices low, it can enable you to make profits. In fact, keeping a supplier as a backup should also be considered, so that your business will never be stopped.
3) Plan: – Conduct detailed research in your local area and develop your business target audience. Include in your business plan information about profitability, needs for equipment, budget, marketing goals, and projected revenue. The target market is more or less fixed in the case of a stationery store for children, teenagers, and a few elders whose hobbies may include using stationery.
4) Advertisement and marketing: We’ve all heard it before – “Social Media is great because it’s free”. Spread and grow quickly with the help of social media business. In creating awareness for your brand, marketing plays an essential role. Internet and social networking can be the best platform for your business to be introduced to your target audience.
Following are few of the marketing strategies you can adopt: –
- Give out stalls at fairs and exhibitions.
- Target children and women impulse by keeping small merchandise near the sales counters.
- Offer innovative services such as designing t-shirts and calligraphy.
- Consider loyalty programs giving out discounts to regular customers.
- Target your customers through e-mail marketing.
- Publish testimonials and positive customer feedback on your website.
- Engage with your customers by asking them to post photos of their children using your products.
- Make sure you have a catchy name. Something that would stick on to children’s memories.
- Make the layout of your store visually appealing and easy to navigate around. It should also be neat and clean.
All the best viewers. Any questions ask in comment section. For personal consultancy, contact us.