How Profitable Is The Stationery Business?

It is rightfully said that the journey from scratch to the pinnacle for any business is never easy. Irrespective of whatever business idea you have in your mind, capitalising it into success is a humongous task.

The same holds for the stationery business. Today, the global demand for products like pens, pencils, notepads, and books has remained stable despite digitalisation. Although laptops and tablets have made it easier to make notes, this has not dimmed the prolific nature of stationery goods.

Many entrepreneurs today repurpose these as gifts. The silver lining in this business is that no matter how the times change, stationery goods will remain widely used in the education sector. Thus, if you are planning to try your hand in the stationery business, then now is the right time. Because once the ongoing pandemic goes down, schools and offices will reopen, and there will be a sudden hike in the requirement of stationery products.

Is Stationery Business A Good Idea?

Absolutely yes! Did you know Charles Dickens once said, ‘There is something very comfortable in having plenty of stationery? Every bit of this sentence is true. Indeed, today’s world is all about tech-savvy things, but even in the rush of digital prowess, the utility of stationery products cannot be left behind because there are some tasks in day-to-day routine for which not all the industries can follow digital solutions. That’s why they have to come back to stationery products only.

Not many of us know this but having a stable stationery business plan is a strong pedestal for growth. This is because the business is recession-proof and will always be required in colleges, offices, and institutes.

Will The Stationery Market Grow in the Future?

The answer to the above-posted question is also a ‘Yes’. We have already seen the exponential rise in schools, colleges, and institutes across the globe. This has led to growth in the stationery segment, which is raking huge profits each year.

Furthermore, with the emergence of burgeoning startups every year, the need for stationery goods also increases. Not many people know this, but the office segment is the second-highest consumer of stationery supplies and is expected to witness healthy growth in the future too.

Apart from all these factors, the varied product range, colourful items, and consumer demand will further solidify the stationery market in the future. So, if you have plans to start your venture and are wondering how to start a stationery business, it is time to take the first step!

How to Start a Stationery Business?

Ever since the idea was first conceived, you must be thinking of driving profits with the stationery business. But when the whole dream pins down on opening a stationery shop, things get a little difficult.

For beginners in this business, there are a lot of factors to consider that can influence your growth. For example, if you are thinking of opening a bags stationery shop, then the general location and the range of products will play a major role.

One of the primary things to keep in mind is the right approach and the idea to capitalise on sales. Here are a few points which will help you in this process:

• Cater to a particular niche of stationery products and then accordingly expand it.
• After gaining a stable customer base, the next thing is to identify your competition. First, locate them and the end-users they are targeting, and then offer products that have been missed out on.
• Keep upcoming trends in mind to increase footfalls.
• Once the brick-and-mortar location is fully functional and reaping profits, try to start an online store to expand your reach.

What Are The Licences and Registration Process For The Business?

Even though the century has turned and people have adopted new means, one thing is for sure: stationery is here to stay. All the new business ideas might not adore the stationary sector, but there are still some market scenarios that hold the potential for stationery products and have the power to get it booming.

However, first, you need certain licences and complete the registration for the commencement of the business. These steps include the following points:

• The requirements for the stationery business, apart from products and space, are permits and registrations.
• You need to complete GST registration if the annual turnover is more than Rs. 40 lakhs.
• Financial requirements such as loans are also important considerations for a stationery business.
• Open a business account and credit card for managing expenses.
• You should also have a certificate of occupancy and business insurance before initiating the business.

What Are The Ongoing Expenses in the Stationery Business?

Like every business, stationery also has an expense ratio that can be low depending on the orders you get. For example, paper products will be ordered as per the demand, and the same goes for pens and pencils.

Also Read: Best Pencil brands in India

How to Make A Stationery Business More Profitable?

There is always scope for every business venture to become successful. And the same goes for stationery. But for the whole thing to churn out more profits, here are some tips to consider:

• Do not ever consider investing in costly options.
• You can always choose the bulk order option for penetrating the market.
• Choose products that are out-of-the-box and not offered by competitors.
• Always opt for high-quality products and brand them before promoting them.

Things to Consider Before Starting A Stationery Business

Every business is supported by a solid framework, and stationery is no different. Thus, before even starting the business in a brick-and-mortar format, here are a few points to consider:

• Keep a list of trustworthy suppliers who offer products at a reasonable price. You can also keep some sources as backups so that the business does not halt unexpectedly.
• Opt for both internet and social media marketing to gain and attract new customers.
• Conduct proper research of best business ideas, profits, budgets, and marketing goals before penetrating the market.
• Finalise the location where the target audience resides.

By following the given points, you can conduct a feasibility analysis and garner your small scale business ideas related to stationery products to explore increasing opportunities.

Conclusion

Now that you have gone through a foolproof detailed plan regarding beginning your stationery business, you should begin analysing the market scenarios now, followed by the future scope for the same. Ensure that you follow a proper execution plan and inculcate all the mentioned points to let the success unfold seamlessly. This way, you’ll be able to hit the bull’s eye and bring your business where you want it to be.

Also read:

1) How To Start Gym Business In India? A Complete Guide
2) Here's how to start a Fast Food & Snacks Business in Easy Steps
3) PoS Machine: Types, Benefits for small businesses & more
4) How to Start an E-Rickshaw Business in India?

Stay updated with new business ideas & business tips with OkCredit blogs in English, Hindi, Malayalam, Marathi & more!
Download OkCredit now & get rid of your bookkeeping hassles.
OkCredit is 100% Made in India.

FAQs

Q. What are the requirements of the stationery business?

Ans. A stationery business, like most unique business ideas, never requires much space to prosper. You can start this from a confined space such as a small room or garage before making it big. All you have to do is determine the optimal location first.

Always remember, if your shop or store is situated in a busy place, then the chances of attracting customers increases. Also, stick to the announced timings and deliver the best quality products to increase trust.

Q. Is an online stationery business profitable?

Ans. Whenever we think of small profitable business ideas, then the element of ‘online’ always pops up. Having an online business drives profits in this digital age, but only if you know to check all the boxes.

Thus, if you want to churn a profit margin of, say, 30% from an online store, then having proper logistics, marketing techniques, coordination with online dealers and suppliers, and knowledge of end customers are essential factors.

Q. What are the other things to consider when venturing into the stationery business?

Ans. Finance is the soul of any business. But the to-and-fro trips to banks can make the whole process quite tedious. Thus, for small business owners, companies such as OkCredit provide hassle-free credit management without unnecessary complications.

The best thing about the app is that it offers its features in regional languages, making it easy for one and all. Also, if you need help with staffing formalities, then OkStaff can assist with that.