A bridal store focused in specialty wedding attire with allied wedding supplies product is a profitable retail venture in clothing and fashion industry. Even in a poor economy, brides to be and their wedding parties spend a lot of money on bridal attire and wedding accessories because weddings are memorable once-in-a-lifetime events. Women who might normally dress in the latest Western fashions usually adopt a more conservative, Indian style when it comes to their wedding. On the other hand, wearing western outfits in weddings are also increasing in numbers recently. So, in opening a bridal store business, you must have a market feasibility study report in hand on the bridal fashion industry. You can initiate with you own brand or you can buy a bridal store franchise of an established brand.
Bridal Store Business Registration & License
In starting a bridal store in India, you must obtain a number of registrations and licenses from Government Authorities. These are as follows:
1. Business registration with ROC
You can register your business as a One Person Company. But for further expansion and to get the smooth financing from banks or any other finance institution, it is recommended to form LLP or Pvt. Ltd Company. Read More…
2. Trade License from Municipal Authority
Apply for Tarde License from your local Municipal Authority. It is mandatory. To obtain VAT and any other license you must submit Trade License.
3. Shops & Establishments Act License
Obtaining Shops & Establishment Act license is mandatory in operating bridal store business. According to the act, all shops and commercial establishments operating within each state are covered by the respective Shops & Establishments Act. Read More…
4. VAT Registration
Vat Registration is also mandatory in operating bridal store business. You can contact with regional Sales Tax department to get the VAT Number.
5. Trademark registration
This is not mandatory. If you are starting your own store with your own brand name (other than franchise), it is advisable to get Trademark registration of your brand name and logo. Read More…
Operational Aspects In Bridal Store Business
Location Of The Store
Alike any retail venture, location matters in bridal store business also. Selecting a right location with the desired floor are is one of the most crucial aspects in this business. Read More…
The days of the retailer opening their doors and waiting for the public to walk in and buy have gone. You have to look for opportunities. Plan for promotion first, then open your doors. Determine where you are at now and decide how much you are willing to spend on your marketing to reach this goal.
Get The Right Inventory
You won’t please the market with the wrong products. In the wedding attire market, there are two parameters: one is weight, and one is the price. People judge quality and aesthetic value by virtue of how much it costs and how much it physically weighs.
Create A Compatible Store Policy
Creating a growth oriented store policy is most crucial in running a bridal store business. Is there
a point of difference that will make customers come to you? If you want to catch the right fish you have to have the right bait.
Concentrate On Resources
Selecting a right Point of Sale software that supports your inventory and operation in a perfect way, is important. Select floor staff carefully. Check whether they are sufficiently trained or not.
If you have the confidence on the product, then bridal store business is just for you.