Service Experience

Retail Business Start-up with little or no capital

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Are you thinking of starting a brick and mortar business? Wondering on how to reach your target customers without having the capital to start-up?

This is just a little secret on how to go about it:

  • Do a product survey: Visit the stores around you, find out  items that are not readily available but there’s a demand for it- especially the household items. Just a friendly chat with the Client Service Officers could give better insights.
  • Get a few samples: Request to see the manager of the outlet and introduce these items. Sales-on- return should be your option for the partnering store, it makes them more receptive as this is at little or no cost to them.
  • Source items from Major dealers: Minimize middlemen while sourcing for items. This would maximize profits to be shared with your partnering store.
  • Ensure Product Quality: Never compromise on quality irrespective of the cost price. A quality and slightly pricey item is a thousand times worth more than a poor and cheap one.
  • Returns on Items:  Set a minimum profit margin to help assure the financial health of your business.To calculate profit margin: divide your net income by total sales.

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