Do you want to start a kitchen store? Here in this article, we cover the steps to follow to start a successful kitchenware supplies store business with small capital investment.
Kitchen supplies store is a traditional retail business globally. Still, in this era of the internet, people prefer to buy kitchenware from a brick & mortar store. That is why the kitchen store business is a lucrative and profitable business opportunity for small business entrepreneurs.
Location wise a kitchenware business is lucrative for almost every location. However, you must store the products according to the demand of the local customers.
Additionally, the business offers several diversified avenues for initiating the venture. You can start a large kitchen store with a wide range of products. On the other hand, you can also initiate a small store by focusing on a particular niche. In small cities and suburban areas, you can initiate a small store based on the demand of the local consumers.
In addition, location wise you can go for both two options. They can be either an individual retail shop or shop-in-shop. However, a shop-in-shop proposition is more lucrative in big cities. Because in this option, you will receive more footfalls or in a mall or shopping center.
7 Steps to Starting a Kitchen Supplies Store
1. Registration & Licensing
First of all, you have to choose the right form of organization. And accordingly, you will need to register your business. For a small store, you can start the business as the proprietorship. Additionally, you have to apply for several licenses. It is advisable to check your state law. However, here we put a list for your ready reference.
- Apply for Trade License
- Apply for the license under Shop & Establishment Act.
- Apply for GST registration.
2. Find a Proper Kitchen Store Location
According to your business size and range of products, secure a good retail location. You must have a location that can attract footfalls. Additionally, your store must have a wide window area. Check the car parking facility before finalizing the space.
It is advisable to have the place on rent. A rental space eliminates the upfront capital investment for purchasing a retail space.
3. Choose Kitchen-Store Products to Sell
After securing the location, you have to procure the items from the manufacturer or wholesalers. And the better purchase ensures a better margin. Basically, the purchase is the major factor in such a retail business. So you must procure your kitchen store products from reliable suppliers.
We have done research in choosing what kind of kitchen-related products you can stock for your kitchen store. A large size kitchen store caters to a wide range of products and subcategories. Here we put a brief list for your ready reference.
Kitchen Appliances: In this segment, the most common items are the mixer, grinder, juicer, microwave, kitchen chimney, food processor, etc.
Cooking Essentials: Some of the most popular products are frying pans, gas stoves, pressure cookers, tawas, kadais, etc.
Tableware: In this category, most trending items are dinner sets, casseroles, glasses, bowls, mugs, cutlery, crockery items, etc.
Storage: Storage items are the essential commodities for the kitchen Some of the popular items are jars, containers, thermos, water bottles, lunch boxes racks, and holders.
Kitchen Tools: These are comparatively low-valued items. Some of the essential kitchen tools are choppers, graters, slicers, knives, spatulas, etc.
Bakeware: Some of the most popular bakeware items are bakeware molds, tins, baking tools, etc.
So you can start a full-fledged store with the entire range of products. Otherwise, you can start a small kitchen store with a single or two segments of items.
4. Setup the Kitchen Store
It is advisable to ask an experienced interior professional for designing and crafting a floor plan. You must have specific areas for displaying the products, cash counter, storage, etc.
If you want to give your clients a comfortable shopping experience, then you must pay attention to the interior.
Additionally, you must do both in-store and outdoor branding. Create good signage for the outer wall of your store.
Apart from the kitchen items, you will need to procure office stationeries, computers, printers, and POS (point of sale) software. Retail management software is a must for getting a smooth store operation.
5. Calculate the Cost of Starting Kitchen Supplies Store
The two broad cost categories in starting a kitchen shop are retail space costs and procuring inventories. The retail space cost will vary depending on the location and the floor space.
However, as per inventory is concerned, one can start kitchen supplies with an investment of Rs. 5 lac onwards. The larger the stocks, the more will be startup investment. In addition, you need to invest in hiring and salaries of manpower.
6. Hire Employees
Employees play a vital role in the retail business. According to the store size, you will need to hire experienced staff. If you are starting a large store, then you have to keep department wise sales executives on the floor.
7. Promote Your Kitchen Store Business
A kitchenware retail store demands both offline and online promotion. Additionally, you must do some outdoor advertising and sales promotion activities.
In India, kitchenware items are also considered value-based gift items. So you must keep the product range accordingly.
You must have a business website. If possible turn your website into an online store. So that customers can check the stock online and they can put orders. It will definitely help you in enhancing the sale.
Promote the products on social media. Make your business localized online. Promote the new arrivals to your existing clients.
Also, there are a lot of ways to promote this business. However, you must promote your kitchen store business according to your product range and target audience.