How to Start a Crockery Shop Business in Bangladesh
Start a Crockery Shop Business in Bangladesh
If you want to start a crockery shop business in Bangladesh then this article is for you. Also, we have an aim to explore the ways to start a successful crockery store that needs a small capital to invest. Not only in Bangladesh but the crockery shop is a traditional business globally.
That’s why people prefer to buy kitchenware from a brick & mortar store in this era of the internet. This is because it’s one of the profitable and lucrative business opportunities for the small business entrepreneur. If you find the suitable location then it’s beneficial for almost every locality.
But, according to the demand of the local customers, you must store their favorite products. Moreover, if you want to initiate the venture, the business offers several diversified avenues.
Why Start a Crockery Shop Business in Bangladesh
Although it’s the age of the internet, there is not decreasing of demand of the crockery shop business in Bangladesh.
Not only for the developing economy but the increased population are the main turning points of the business. So, if you want to start a large kitchen store then there are a wide range of products. Moreover, you have a chance to initiate a small store by focusing on a niche.
Also, you can initiate a small store according to the demand of the local consumers in small cities and towns. Besides, you have two options in this case, such as an individual store or shop-in-shop. But, among the options, the shop-in-shop proposition is more lucrative for this type of business.
Steps to Start a Crockery Shop Business in Bangladesh
It caters to a wide range of products and subcategories when you have a large size crockery shop business in Bangladesh. So, follow these steps when you’re ready to start your crockery supplies store. These are because it’ll ensure that your business is legally compliant and avoid wasting time and money. Well, let’s know the steps to start selling crockery materials business.
First Step: Shop Location
Secure a good retail location according to your business size and range of products. The location attracts footfalls that should be yours. This is because of a location for the crockery shop business is crucial. Also, with the good location, you need a wide window area for your shop.
Moreover, if there is a car parking facility, it will be great for your business growth. Besides, we suggest having the place on rent because a rental space eliminates the upfront capital investment. But, keep in mind that there is no alternative to a perfect location if you have a plan to grow your business.
Second Step: Shop Setup
In order to design and crafting a floor plan, you should ask an experienced interior professional. Also, it’s important to have the particular areas for your products, cash counter, storage etc. And you must pay attention to the interior if you want to give your clients a comfortable shopping experience.
Moreover, you should do both in-store and outdoor branding. That’s why create a good signage for the outer wall of your store. Besides, you’ll need to procure office stationeries etc apart from the kitchen items.
Third Step: Promote your business
Both offline and online promotion is demanded a crockery shop business in Bangladesh. Also, some outdoor advertising and sales promotion activity is needed for your business promotion. Moreover, kitchenware items are also considered as value-based gift items in Bangladesh.
As a result, the product range should be accordingly as the consumers preferred. And turn your website into an online store if possible and if you have a website. This is because customers can check the stock online and they can put orders. And you can consider using the social media if you want to make your business localized online. Besides, there are some other ways to promote your business, such as via visiting cards etc.
Fourth Step: Products for Shop
As it’s said that a crockery shop business must keep a wide range of products according to the local demands. Not only pricey items but you should keep some popular items as well.
These may include frying pans, gas stoves, pressure cookers, Tawas, kadais etc. for the kitchen appliances, you need to keep most common items are the mixer, grinder, juicer, microwave, kitchen chimney, food processor, etc. Moreover, if you can invest more, you should keep some tableware, storage items, kitchen tools, and bakeware.
Fifth Step: Plan your business
As an entrepreneur, a clear plan is essential for success. The initial costs, your target market, and how long it will take you to break even these are some important topics to consider while planning your business.
If you’re a regular reader of our blog, you may have read that we have stated several times, a well-balanced business plan is half done of a task. Also, when you see a business plan, you must see the entire lifeline of your business from top to toe. That’s why not only for this business but for all business a plan is most vital.
Sixth Step: Registration & Licensing
It’s important to choose the right form of the organization first of all. Then, you’ll need to register your business accordingly. You can start the business as the proprietorship for a small store. Also, you need to apply for some licenses.
These include trade license, company formations certificates, space rent certificate, bank solvency certificate etc. These all may make you stressed so hand over your stresses to an expert lawyer to do all for you.
More Steps to Follow Essentially
There are some other vital steps to follow while starting a crockery shop business in Bangladesh. They’re as important as you can’t ignore any of them. If you ignore any of them, you’re likely to have faced some difficulties. The steps to follow essentially are below:
- Form a legal entity to continue stress-free business
- Register for taxes and get Tax Identification Number (TIN)
- Open a business bank account, for example, a current account
- Set up business accounting to perform all business accounts
- Get business insurance for future need
- Define your brand
- Establish a web presence
- Hire Employees