Running a business always requires a strategic approach, critical thinking, research, and a clear objective in mind. When talking about businesses, every company has one primary goal in mind and that is to make a substantial profit. Even running a Kirana business relies on making the expected rate of profit. And sometimes more than that.
As you already know, Kirana shop is one of the common yet profitable retail businesses. Several shops have been opened across distinctive localities to meet the daily product requirements of customers at large. So, if you are having a Kirana store or thinking to start one, then you should be aware of some do’s and don’ts. Mere adding products inside the shop are not enough to meet your objective.
You should have a clear idea of what to do and what not to do. Concerning the same, we have created this blog for you to share useful tips and necessary do’s and don’ts of your Kirana shop management and making the required amount of profit.
Do’s of Running Your Kirana Shop
Apart from setting up your Kirana store with the learning gained from professional business consultants and knowledge gathered from here & there. You also need to take care of essential to do things for the success of your retail business.
- Follow the current market trends: One of the significant tips to make your Kirana business goes successful is having an idea of current marketing trends. You should do an analysis of current ongoing things in the retail space. To stay ahead, you should be aware of your competitors, customer requirements, trending products, and various other things. Doing this will help you stay competitive and unique in offering products to customers.
- Do the marketing of your Kirana store: Running a physical Kirana store does require end-to-end marketing among the target range of customers. Unless and until, you do not let the customers know about your store and offerings, then how would you increase the sales patterns? Therefore, it is important to introduce your business locally, offer product deals, offer free-home delivery, and various offers to get recognized. This will help you make the brand stand out and be highly preferred by customers around.
- Offer seamless customer service: Undoubtedly, customer service plays an integral role in ensuring the growth of your Kirana store. It is very important to create a trust factor among customers coming to your shop and assure the retention rate. Especially, when the competition is too high due to the emergence of online grocery stores. You can offer deals, offers, and end-to-end customer support to people to gain the trust factor. Also, get to know the requirements of your customer base and fulfill the same.
- Manage your finance deeply: Finances can make or break your Kirana shop business. It is important to handle the cash flow intricately without making a mistake. Either hire a professional to manage your finance. If running the store on a small scale, then learn to manage the finances with the assistance of a Kirana shop business consultant. You will learn how to keep track of expenditures, take out profit margins, and buy stocks at a minimal price.
- Know your retail industry: Another important that you should do is know the ins and outs of the retail industry. You can expand, only, if you know the possible opportunities and ways of running the business. Concerning the same, you must know the marketing strategies, financial planning, operations, etc.
- Automate the billing system: Last but not least is automating your billing system to meet customers’ demands fast. It is important to automate the billing functionality to reduce the size of your customer queues and allow them to buy from you quickly.
Dont’s of Running the Kirana Store
Here, get to know some things that should not be done as a Kirana store owner.
- Do not underestimate the power of physical store marketing and advertising. It is equally important like that of eCommerce marketing. Be it through word of mouth, you should do the marketing of your shop, products offered, deals, and more.
- Do not take customer feedback lightly and continue running your business with negative views. It can impact your business extensively and might reduce your profit ratio to an optimum extent.
- Do not try to overspend on the Kirana shop and that too without having a proper financial plan in place. You should start making weekly, monthly, quarterly, or even yearly budgets to stay on track.
- Do not neglect the significance and knowledge of your industry. Not knowing anything about your business will not provide you the flexibility to run the store and know how to expand it later.
- Not seeking the assistance of a professional business consultant to know how to increase product sales and higher up the margin.
Conclusion
The expansion of any business depends on considerations that must or must not be followed. In the case of running a Kirana store, you should follow some essential things and neglect a few ones to stay on track of success. For having a clear sense, get the assistance of a Kirana shop business consultant ready.
