Do's & Don'ts for a Kirana Shop Owner
Table of Contents:
1. How To Improve Kirana Shop Business?
2. Do’s and Don’ts of a Kirana Shop Business
1. How To Improve Kirana Shop Business?
The motive of every business is to gain customers and increase sales. However, it is easier said than done. Establishing a successful business requires strategies, business plans, and proper execution. A Kirana shop is one of the most successful retail business ideas to start. But some shops struggle to earn profits. It happens due to improper business plans and financial issues.
To keep floating and succeed in this competitive market, Kirana shop owners must have unique full-proofed business plans that their competitors don't have. It gives an advantage to Kirana owners over others. Every amateur business owner often asks how to make my business grow, tips and tricks to expand the business, etc. We will discuss everything regarding how to expand your business in this article in detail. Let us take a look at the small business tips and advice to expand the business.
2. Do’s and Don’ts of a Kirana Shop Business
Want to know how to expand a business? Here are the small business tips and advice for your business:
DO’S
The do’s of a Kirana business are as follows:
1. Market your business online
With the sudden shift of consumer behaviour in the digital world, you should introduce your business online also. You will get many leads and customers online in a short time. You need to create an eCommerce website and sell your grocery and related products online. We have also witnessed how sudden pandemic restrictions across the globe have pushed people to buy even groceries through online portals. So, this is your chance to use this window as an opportunity. Marketing your business online is a fantastic way to connect with more people and increase your profits.
2. Follow market trends
Do a deep market analysis. It is a great business tip to follow market research and trends. You have to follow your competitors and industry trends to find out what is working in the market and what people are buying more. This helps you analyse how to position your business in the market. You can also use marketing tactics to attract customers your way. It is one of the best ideas of how to grow your business.
3. Customer Service
Customer services play an essential role in business sales. You can start by offering additional service benefits to your customers, such as free home delivery, easy returns, and a hassle-free exchange policy. These tips may seem unnecessary, but the impact is enormous. You can ask for customer feedback and offer referral coupons to improve the customer experience.
4. Know your industry
Do understand your industry’s workings. You can expand your business by gaining significant knowledge of your industry inside out. It will help you thrive in the market competition and help you accomplish your goals. The majority of businesses fail due to a lack of industry knowledge, vision, poor market strategies, inadequate capitalisation, and poor execution. So, you must know about the industry, have good business plans, market strategies, financial plans, cash flow analysis, etc., to increase your sales. This will answer the perpetual question in your mind- how to grow my business.
5. Manage your finances
Do hire professionals to help you with your financial plans. Finances can make or break a business. Poor cash management leads to bankruptcy and destroys the goodwill in the market. So, it is essential to manage the finances. You can manage your finances by planning the business operations, forecasting the cash flow analysis, and other required day-to-day inventories. You can make a list of your inventories and stocks required for a month. It will help you with a clear and sorted business plan. With everything going digital, it’s sometimes difficult to keep track of finances. Check out the OkCredit app, which has made financial management a simple walk through a park.
6. Automate your business
It’s essential to automate your business activities. The majority of tasks these days are performed with the help of the internet. People use half of their time on the internet and surf social media to look for new brands, videos, ideas, business tips, meetings, etc. So, automating your business is a good idea to reach a large number of audiences.
DON’TS
The don’ts of a Kirana shop are as follows:
1. Don’t stick to only physical stores
Don’t just stick to physical stores. Expand your business online. There are several ways to market your business online. You can create your website by hiring a web developer or a professional website designer. You can find various website templates online for free and create a website yourself. It will also help you save some additional money. Marketing your business will help you increase your sales and increase your goodwill in the market and answer the question of how to grow your small business.
2. Don’t neglect marketing and advertising
Don’t underestimate the power of marketing and promotion. It might seem like an unnecessary investment initially, but it can be highly beneficial. Deep market research will help you understand the customer's requirements and preferences. Once you know the customer requirements, you can strategise and change your decision-making, marketing, and business plans accordingly.
3. Don’t neglect customer feedback
Don’t take your customer feedback for granted. Improving customer service can increase your sales up to 20-30%. It will also help you maintain your goodwill for the long term. As your goodwill goes up, more customers will purchase from your shop, which will boost your sales. So, customer service is essential.
4. Don’t neglect the needs of your industry
Don’t neglect your industry’s requirements. It is essential to know your industry and business. If you don’t know about your industry, its working, requirements and other details, it will not be a successful business. Invest some time to know your business better than everyone else.
5. Don’t overspend without a financial plan.
Don’t spend your money as you please. Make a financial plan and spend accordingly. Create your weekly, monthly budgets and expense reports to forecast the revenue and expenditure estimate. A proper and systematic financial management is the key to a successful business. You can automate your finances to keep a systematic record of the business. It is more effective and efficient as compared to a manual bookkeeping system.
6. Don’t use outdated technology.
Don’t be outdated in technology. Hire some experienced professionals to set up your automated Kirana business. There are many ways to automate your business, such as:
- Social media – You can use scheduling apps to upload social media posts every single day. It helps you save time and advertise simultaneously.
- Accounting applications – You can purchase accounting applications to streamline day-to-day financing activities.
- CRM – Another way is to use a customer relationship management system. It will help you retain old customers and also acquire new customers.
- Sales and product reports – Automated sales and reports can help you generate detailed reports and identify related business operations metrics.
Also Read:
1) Do's and Don'ts for a Fancy/General Store Owner
2) Do’s & Don’ts for a Restaurant Owner
3) Do’s and Don’ts for a Hardware Shop Owner
4) OkCredit: All you need to know about OkCredit & how it works.
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Key Takeaways
To conclude, we can say that the expansion of a business requires various steps, such as creating business plans, strategising according to market conditions, have a financial plan, automation of business activities, etc. You can follow the steps mentioned earlier if you are planning to expand the business. The do’s and don’t points will help you in your industry.
FAQs On Kirana Shop Business
Q. Are Kirana shops profitable?
Ans. Kirana shops are profitable as compared to other retail shops. The growth increased immensely over the past year due to changes in market conditions. Earlier the sales were between INR 20,000 to INR 30,000. However, after the pandemic, sales have increased from INR 30,000 to INR 50,000. People stock the groceries in their houses to avoid going out. So, we can say that Kirana shops are profitable regardless of market conditions.
Q. How to grow my business?
Ans. There are various ways to grow your business, such as creating business plans, strategising market conditions, financial goals, automation of business activities, customer service, and your industry knowledge. One of the best ways to grow your business is to improve customer service. Improving customer service can increase your sales up to 20-30%. It will also help you maintain your goodwill for the long term.
Q. How can I market my business online?
Ans. You can create a website and sell your grocery and related products online. The majority of people purchase groceries online to save time and spend more time with their families or friends. So, creating a website and marketing your business online is an excellent way to connect with more people and increase your profits. You can also use scheduling apps to upload social media posts every single day. It helps you save time and advertise without spending additional money on advertising.