Success Embedded In The Small-Budget Stationery Business
- BY Jaspreet Kaur
Feature Writer, BusinessEx
- Jan 10,2019
- 12 Mins Read
In the modern era, people have diverted from their normal course and embraced digital means. The rampant progress of the digitalization has deemed to lessen manual efforts and exploration that masses practised earlier. Books, pen, notepads, mails etc. have gained a digital form and in turn, facilitated in advancing the world. Indeed, the twenty-first century is a digital era. Nonetheless, even after grasping the conventions, schooling and the corporate world still employ an enormous stationery stock on regularity. Furthermore, stationery items are well-liked by the industrious students. So, students, working professionals and schools are important strands to thrust the stationary market upward. Owing to which, business owners of the stationery stores are less likely to grapple to keep the business afloat.
6Wresearch, a research process outsourcing company, in the research report states, “India stationery market revenues are projected to grow at a CAGR of 10.5per cent during 2018-24. In India, major demand for stationery products is generated from the education sector due to increasing enrollment of students in schools and higher educational institutions. Further, the growing e-commerce industry in the country is also contributing to rising sales of stationery products. Office segment is the second highest consumer of stationery products and is anticipated to register healthy growth during the forecast period due to the growing demand for stationery products in the service sector.”
Why Aspiring Entrepreneurs Should Focus On Initiating A Stationery Store?
Running a stationery store is comparatively easier as the business requires less amount of capital and more branding. Since a large number of students get enrolled yearly, thus, the demand of the stationery items remains invariably high.
For aspiring entrepreneurs, gathering an enormous capital is tough and secondly, ascertaining investors for the business is a somewhat arduous job. Thus, considering the augmentation of the stationery industry in recent years, the aspiring entrepreneurs can think of setting up a stationery store.
A stationery store is a small budget business; the stationery business requires a meagre capital for the investment. Furthermore, keeping the business afloat is easier as students and working professionals, which are major strands, steadily employ the stationery items.
For better guidance, here are some business tips that the entrepreneurs should adhere when starting a stationery store.
- Ascertain The Right Supplier For The Stationery Supplies
When an entrepreneur starts the stationery store, he eventually receives abundant appealing, inexpensive supplies proposals from contractors. Trusting every contractor who drops in the store would be silly. To become an enterprising person, the business owner needs to be sagacious and narrow down the choices. Further, the business owner should reflect on the quality as, today, millennials and students rather buy good quality products than reasonably priced poor-quality products.
- Promoting The Business In The Virtual World
Marketing is a staple for almost every business enterprise. So, similar to other enterprises, the business owner needs to promote the business and grab customers’ eye. The presence of user-friendly internet would ease marketing process as the business owner can popularize the business on the social platforms by rigorous social posts, sharing pictures of stores’ interior, rendering discounts, and timely informing about latest appealing crafts and stationery items.
- Prioritize The Business Location
In the retail stationery business, location matters more than any other strand. Since the regular customers of the business are primarily employed staff and school children, thus, the entrepreneur needs to set up the store near a school or business tower. Through this location, the business owner will be hugely benefited.
Follow the above-mentioned business tips to attain success in the small-budget stationery store.
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