How to open an electronic shop. Best electrical business ideas in 2022
If you are too big. Looking for business, today we are present with another new and big business idea. Today we are talking about electronic shop business, know how to open your own electronic shop Electronic product is the second largest industry after importing oil in India. And the demand for electronic items is increasing day by day.
Electronic items is one such segment which is needed by people from middle class to high class. Because it is common for every middle class family to have at least items like TV, Freeze, Mix machine, Mobile phone etc. Therefore, more employment opportunities are also being created in this related field.
What is electronic shop business
Electronic products like TV, Freeze, Mobile, Microwave in electronic shop business. There is a business of selling products like etc. In this, you can open a shop or showroom and sell all types of electronic items of different companies.
How to start electronic shop business
Before starting this business, you must have enough knowledge about this business. Because electronic shop business is a big business, the cost of starting it is also in lakhs. That’s why it is very important that you have enough knowledge about this business before starting it. You can get this information by staying for a few days in an electronic showroom or from someone close to you who is associated with this business.
Knowing Your Mission and Vision
Before starting an electronic shop business, it is very important for you to know your mission and vision. That is, you have to know your goal, what you are going to do, what is your complete business plan, what is your budget, how far do you want your business to go. Before starting this business, prepare a complete plan of things like who will be your target customer etc.
The showroom should be set up at the right place
Having enough knowledge for electronic shop business, and complete business plan you need to have the right location for your shop or showroom. Having the right location means that your shop or showroom should be in a good and big market where people have to come more for shopping. Because most of the customers turn to a big market or big shop for electronic items. Therefore, you should pay special attention to the fact that your shop or showroom is in the right place.
To open an electronic shop, you need more space because electronic items such as products like fridge, washing machine, microwave, etc. take up more space. Therefore, to store these things, you will need at least 1000 square feet of work, which should be well done with decoration and furnishing work. Because attractive appearance of shop or showroom is very important for this business.
Required license and registration for electronic shop
There are some legal procedures to open an electronic shop. Some documents are required, after which you will get a license and you will also get a register number for your shop, only after which your shop can run smoothly. The documents required to obtain a license legally are-
- good shop name
- Choose the company you want to open PVT or LLP
- Register GST
- Register to open shop
- get an ISO license
- Get a building permit if you have your own land
- get trade license
- get MSME license
- Get BIS (Bureau of Indian Standards) license
- open current account
If you want to take the franchise of any company, then complete its paper process.
Collection of electronic items should be proper
Nowadays, only what is sold in the market is seen the most, that is, the goods whose publicity is more, the same goods are sold more. You have to try that you keep the goods of the branded company in your shop. Yes, people from big houses will also come to your shop and people from middle class family will also come to your house. You should keep in mind that you have every type of item of every budget because every people have different budget and their demand is also according to their budget. In your collection, you should keep a collection of branded company as well as some local companies so that the budget of the middle class people can match with the budget of your shop’s goods and they can buy the goods without any hesitation. There will be peace.
some company whose goods you keep more
Keep the company’s goods as much as possible, because these companies are more popular in the world of electronic items. And people’s faith is more on the products of these companies.
You can sell This Products
- Electronic Appliances
- Electronic Mobile Product and accessories
- Electronic lighting
- Electronic Fancy lightning
- Electronic Hardware Products
- Electronic Computer and Laptop
- Other electronic items, etc.
How much will it cost to open New electronics business
Rent + Security money, it depends on the area. Well the rent can go up to 20,000 in a good city. Computer, counter, decoration, furniture work, electric work, etc. can come up to 1 lakh. Electricity connection + electricity bill 10,000 for a month, 20,000 for a month according to 2 staff 10,000 months, cost of getting goods up to 10 lakh. Miscellaneous 10 thousand. Advertising pay 10 thousand. In this way the total cost can come up to 12 lakhs.
How much will you earn from New electronics business
Talking about profits, the average margin at retail pay is as follows. Big Appliance like TV, Freeze, Washing Machine, etc. 20 to 30% Laptop, Mobile, Phone 10 to 20%, Lighting Item 25 to 40%, Mobile Accessories + other small product 30 to 50% Plus profit on this thing It also depends on whether the customer is taking the goods after paying once. Or because of the installation pay, the margin increases by taking the installation pay.
Where to buy products for New electronic Business in your showroom-
Now this question is being raised in your mind that it has become a matter of profit, it has become a matter of planning, it has become a matter of cost. For your information, let us tell you that in every area there is a dealer selling electronic things, there is a wholesale market from where shopkeepers buy things. Or take the franchise of a company and sell the things of the same company in their shop. Some shopkeepers take it from the dealer, while some people bring the goods online after spending the cost and keep it in their showroom, due to this they also profit and the customers also get profit.
How to increase your cell maximum in New electronics business
Win the trust of the customer with the right product. Most electronic items have warranties or guarantees, in which case provide this facility to the customer easily in case of product damage. Keep giving offers etc. to the customer on the occasion of festival etc. Keep the facility of easy installation and sell online by joining the online shopping site. Promote the shop as much as possible, etc.
Simple way to win the hearts of customers
Some people think it is better to buy things on EMI, while some people want to buy everything with money and that too by making one time investment. Therefore, within two-three days of purchasing the goods, if any item gets damaged, then make arrangements to replace it. Take special care of the warranty of the goods so that your customers can trust you and they can come to your shop again and again.
Investment for New electronics business
Investments For New Electronic Shop Business :- Investment in this business depends on this business and land because if you start big business then you have to invest more and start small business from home (New Electronic Shop Business) So less investment has to be done in it (New Electronic Shop Business) and own land then work can be done in less money and if land is rented or bought then more investment has to be done in it. falls.
Shop & Godown Cost :-Around Rs. 2 Lakhs To Rs. 5 Lakhs (Can also be taken on rent)
Other Cost :- Around Rs. 1 Lakhs To Rs. 2 Lakhs
Total Investment :- Around Rs. 2 Lakhs To Rs. 5 Lakhs (If Own Shop & Warehouse & Means)
Space for New electronic shop business
Space For Electronic Shop Business :- There is no need of much land inside it because no big shop has to be built inside it (New Electronic Shop Business ) not only after that, such a big Godown has to be made but keep in mind on big budget. If you want to do electronic shop, then in a particular market of the city or at such a place from where people have to come a lot, open the shop at such a place, so that the eyes of the people coming and going to the shop and the customer can come easily and
Shop :- 300 Square Feet To 500 Square Feet