The Indian grocery market, which accounts for a huge sum of India's total retail market, offers plenty of opportunities to Kirana stores. To know more about the pros and cons of it keep reading on...
People often underestimate the struggle of owning and operating a Kirana store, especially during the initial years. While these kirana stores are relatively easy to get into with fewer barriers to entry than most small businesses, the truth is there is a lot more to it than people may realize. While it can be very lucrative and rewarding over the long term, it can be a real headache at first.
One of the most important things is the product or service you are offering to your customers. Make sure it is something you believe in strongly because you'll have tough times to muddle through, and your efforts in providing the product or service might be the only log that keeps you above the water. Convincing your customers that your product or service is worthwhile is a must, and if you don't genuinely believe in it yourself and lose the will to do it, that may be the end of your venture.
Before jumping into anything, make sure to weigh the pros and cons-
Pros of Opening a Kirana Store-
There has to be a reason why starting a kirana store is important to you. It's good to go through the positives of kirana stores before moving forward:
1. Be your Own Boss-
You get to set the rules of your business, hire the employees and eventually reap the profits. If you're the type of person who has his/her own strategy for managing things and is confident you can be successful doing it, being in charge can be a good fit for you.
It's a great feeling for anyone, to be able to make a living from a concept you believe in or work hard on. You can create the atmosphere and a culture that you want to work with and let your customers shop within. This includes everything that goes on in your store, from the products or services you are selling to how you're selling them.
3. Contribute to the Community-
You can provide jobs and help other people. You can become a part of the fabric of your local community by supporting broader visions within the civic sector, and you can serve as a mentor to your employees.
Cons of Opening a Kirana Store-
Along with the good of owning a kirana store comes with many challenges, make sure to consider what they might be for you and assess whether or not you are equipped and prepared to face them in the first place:
1. Being the Boss-
Although, it's a benefit, being the boss can be a challenge as well. While freedom is great, it comes with almost total responsibility. The profits stop with you and it grows with you, so you have to be ready to take all the negatives along with the positives.
2. Financial Risk-
Maybe you have to make a large cash investment upfront, even if you go the franchise route. Plus, be prepared to be the guarantor on all of your retail business' debt, meaning you will be responsible for all the bills even if you close the business. Even after you've started turning a profit, you might always not get the most out of it.
3. Long Hours
If you're allergic to long hours and little or no pay, it's not even worth getting started, because that will be what it looks like for at least the first year. Vacations? Maybe if you go to a trade show or convention, but otherwise, time off is out of the question while your business gets going.
4. Difficult Customers and Employees-
While meeting new customers usually is a pleasant experience, not all customers are going to love you. It will take some getting used to. Likewise with hiring employees, sometimes you're going to get a dud, and no one likes having to fire someone. But that likely will fall to you at some point.