HOW TO START A SUCCESSFUL HARDWARE STORE IN INDIA
Having food and shelter are the most basic needs for survival. We work hard every day to get food and we save money to build our houses. Since the income of the middle class is increasing their ability to spend more is increased and as a result, the dream of many to have their own house is getting fulfilled. When we think of making our homes, we try to put the best we can afford to make it look beautiful and there are many options available too. Hardware items are one such option that is a must to build a house. Hardware items are most necessary, as they are used in almost all areas such as plumbing, machinery, household, gardening, manufacturing, cobbler, carpenter, and electrical with a variety of items such as PVC pipes, taps, paints, hand pump, nut, bolts, pots, broom, wiper, lock, bulb and lights, wires, color, drums, knife, bottle, jars, plastic, rubber, thread, rope, etc. The list is very long and their importance is unmatched. Setting up a hardware store business is easy and is very profitable as the demand for hardware items is never going down, because of this, many investors are attracted to this business.
Let’s have a look at how you can start a successful hardware store business in India;
Create a Plan
Decide what will be your reach. If you want just an offline store or want to accompany it with an online site? Make a plan for what is going to be the size of your business at first. The growth will only follow if you thrive in the market and hardware store business needs investment and time as you can’t expect that all your products will be sold in a day. There will be days when you sell no hardware items or on others, you may sell plenty of them. One should always be ready for bad days.
Decide on products
There are a huge variety and types of hardware items that are available in the market. They are based on a niche where they are to be used. They may be gardening tools, or paints, cement, appliances, and equipment like a hammer, screw bolt, and whatnot. The hardware store business will expand and the list can always increase but decide first what is your introductory range and how influential it is for the local public and will it get enough attention.
Rent or Buy a Shop in Good Location
Internet is available to most of us and nowadays a lot of people are shifting to online mode for buying hardware items. Keeping that in mind, starting your hardware store business in a familiar locality where people know you would work the best. The online purchase doesn’t feel familiar to a lot of people and so your shop can be a good option for them as they know you and would expect a certain level of compassion and help from your end. You will need a place big enough for your ceramic tile shop. A 20*20sq ft place should be ideal to start with. But make sure you have a godown or extra storage space where you keep your product in bulk.
Display and Infrastructure
The infrastructure of a hardware store business is pretty basic. You’ll need a counter and a few shelves to display your product. Along with basic lighting, use extra lights such as LEDs and fairy lights in each compartment. The placement of hardware items should be according to variety and types such as those for floors should be displayed separately. You will have to research what are the demands of your customers while they look for hardware items and so that you can recommend them wisely as to what hardware items they can buy. You can also put chairs or couch for your customers for their comfort. It will make your small place a bit fancier.
License and Permit
To set up any shop in India you need to take certain permits such as a Business License, Resale Certificate, Business Name Registration or DBA Certificate, Certificate of Occupancy, Federal Tax ID, etc. Make sure you have done your homework and have finished all the paperwork beforehand and have kept them handy and be ready to take rounds to government offices before setting up.
Choose the right Distributor
Make sure you have a distributor who can easily make you available which the supply whenever you demand them and have access to the trendy hardware items. If you want to run a good hardware store business, you should know that customers should not go empty-handed just because you did not have the product they needed, available on that day.
Setting up any business at home requires a strong local connection and communication so that the business can propagate but with the rise in the use of e-commerce, things have become a lot easier. Make a website for your Hardware store business and set delivery boundaries according to yourself. Arrange your products in different categories and use various models and tools which are available online to make your website catchier and more attractive.
Social Media presence and Marketing
Social Media is used by almost everyone around the globe. It is almost certain that at least one person in a household must be using any social media platform. Putting up pages on Facebook and Instagram and asking youth in youth in the locality to share it amongst friends, developing a strong SEO, and investing in marketing offline can bring great audience attraction to your hardware store business. Putting up ads with discounts and amazing offers are always a plus. Along with online, spending on offline methods to propagate business is necessary. Go old school and hand our pamphlet whenever a customer arrives. Since you have an offline store and most customers will save your number for future reference, you can invest in WhatsApp Business and use its marketing tools to propagate your business. It is convenient to use and digitally provides a personal touch as the medium is one-to-one messaging which has become one of the best provisions of converting prospects to customers. Remember to greet them nicely and make them feel important.
Starting any business takes a good amount of planning. If you want your ceramic tile business to succeed, understand the risks that come with entrepreneurship. It often takes a few years to get a business off the ground even with the best-laid business plan and advanced marketing. To open a hardware store business, one should be ready to work hard and show a lot of perseverance and determination. All businesses have good and bad days but it depends on the owner how they react to it. All the best!