Electronic shop is among the best businesses an individual can venture in, especially if an entrepreneur is aiming to expand beyond his locality.
India has a massive population coupled with advanced technology and infrastructure development. In this era of smart phones, owning an electronic shop could be the best thing to happen to an ambitious person.
Assuming that you are so willing to start an electronic shop but you aren’t sure how to go about it, these are the steps to follow.
If you have small capital say $ 5,000 then you are ready to go. But remember this amount is only enough for a retail electronic shop but if you intend to open a big electronic shop then you must have at least $ 20,000,which is way above what a common Indian can afford.
Select the best room to place your business .The business should be near the road and where there is a good number of pedestrians. Business is all about people, so having your business in a busy street will give you more advantage over other entrepreneurs.
When selecting a room for business, please ensure that your monthly rent does not exceed 5 % of the capital. If it does then it must be in an extremely busy street. Also, your business must be in a very secure street.
After getting a nice room to conduct your business from, go for a license from the municipality. The license is not expensive to acquire. Then register for tax, without this you won’t succeed in running your business.
Select a suitable supplier of mobile smartphones, TVs, Radios, iPads, Laptops and other electronic goods that are sellable in Mumbai. Before you circle on a supplier, make sure the products are not counterfeit. People nowadays like original products, especially electronic gadgets.
In order to succeed in this business, you must sell your products with a price equivalent to the ones popular online stores like flipkart sell, otherwise you will fail miserably.
Mumbai has a population of over 11 million .This population is enough to make you not only rich but also popular. You only need strategy, determination and good customer relationship. Business grow through referrals, the way you treat the first few customer will determine how your business will grow.
I have seen people grow business from scratch, they are now swimming in money; why not you! Start today, never say tomorrow and success will follow you.
The best phones to sell in Mumbai include Samsung,iPhone,HTC,Sony and Nokia
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