Stationery business does not end at pens and notebooks, the wide variety of products will shock you. Also, the fact that a stationery shop has increased demand in spite of evolution in the digital industry.
The major contributors in this industry is introduction of new products such as magic colour pens, all in one pens, cardboard sheets and much more.
The never-ending products call for a decision to identify which variety of products you want to sell. But before moving on to making a decision, you must acquire basic understanding of a stationery shop set up.
Contents
Learn from the guide
Market Understanding
Stationery shop will provide with abundant opportunities. You will need to understand the market by exploring all the market niches.
We have listed all those market niches for you.
Students
Students are great market. You require product variety that suits the need of the students. In accordance with this market, you will require to understand the market demand of the products.
Offices
Corporate businesses have a lot of paper work that will call for different kind of products in offices. Some examples are paper pressers, high quality pens and notepads. Office will require different type of products.
Hospitals
Stationery products are also used in hospitals by way of paper for medicines and reports. You need to keep these products for continuous supply as these are required highly.
NGOs
Most of the NGOs work for children to provide them basic stationery. This call for great use of stationery shops. It is a profitable market as products are ordered in bulk.
Libraries
If you have books accompanied with stationery products then it is most recommended to work for a library’s need. It is also profitable if you provide them books that are cheap.
Government Institutions
Most of the government institutions require abundant amount of stationery products. You can target this market specifically to enjoy high profits.
Business Structure
Basically traditional stationery business have only one option to start a shop. But now a days you have other methods to earn money by a stationery business.
Here is a list available options to explore.
Online store
You can start an online store, it will attract large number of customers. As customers are demanding products online. Also, you will have to give proper delivery service if you go for online option.
Home based business
You can even start home-based stationery business, it is easy and convenient form of earning money. You can start selling at your locality and then expand it by increasing your product variety.
Storefront
Stationery stores are the traditional way of earning money. Due to high demand and large customer market it is earning profits till now. You can too become successful, if you are focusing in particular market.
Product Niche
Various kinds of products are offered in a stationery shop. After understanding the market, it is mandatory that you start identifying which kind of products you will offer.
We have listed out all kinds of products for you.
Art inventory
Art material form a huge variety of products that are required continuously. You need to provide every new thing available in the market to cope up with the demand. Art supplies mostly get new products in every season.
School raw material
Stationery raw material used in schools are widely demanded. You can provide school supplies and cover the demand. It will give you good profits.
Craft supplies
Craft supplies are different from art supplies. You must know these differences to target potential customers.
Specialty supplies
Some stationery shops provide specialty supplies such as computer inks, pen stores, and many more. You can become one if you find customers in your area.
General supplies
General stationery shops are a mix of all kinds of supplies that is mostly found in the market. If you are focusing on a general supply store then you should make sure to have appropriate quantity of products.
Legal Requirement
Starting a business requires a legal requirements to be fulfilled prior to start trading goods. Here is a list that you can go through or directly apply online.
GST Registration
You will need to pay taxes on goods that you are selling. To pay those taxes gst registration is must.
Shop and establishment act
A shop requires to be registered from shop and establishment act. This act is specifically for store owners.
Trade license
Trade license will give you permit to start trading your products through a store.
Leasing agreement
If your shop is leased then rent agreement is required. It will be also required to register tour business.
Website domain
If you are starting an online store then you need to purchase domain for your website. Buy one from here.
Ideal location
The location of your business creates a major impact on the sales. You need to consider various factors while deciding a location Consider these factors:
Parking space
You must have enough space for parking so that your customers can buy conveniently from your place.
Visibility
Your location should be visible to the customers because most of the shops are forgotten by customers due to their position.
Reachability
Are you reachable to your customers? If not then you must change your location. It may be possible that you are the only shop in your area but if customers are living far away then it is not fruitful for your business.
Sourcing of Inventory
Your raw material will differentiate your services from your competitors. Hence it is mandatory to choose suppliers carefully.
Consider these points while choosing them.
Cost of raw material
Whether your supplier is providing you inventory at best price? This question should be answered before choosing a supplier. Compare prices from various suppliers to choose one.
Quality of products
Don’t compromise the quality of products for the low prices. If your products are not providing quality then customers will shift to other competitors.
Availability
Your supplier must be able to provide products even when at the time of shortage. If not then you must have a supplier for emergency situations.
Bulk orders
Does your supplier provide products in bulk? If not then may be you need to find someone else. Bulk orders saves on cost so business prefer on these orders.
Marketing
Before starting a business, it is really beneficial to start its marketing. You get an edge from the competitors as customers get attracted through marketing.
Here are some strategies
Host an event
You can host an event that showcases the variety of products that you offer. Also you can organize stalls in the various events happening in your city. It helps to create presence of your business.
Collaborations
You can collaborate with various government organisations or NGOs that usually orders in bulk. That way you can enjoy high profits.
Conclusion
We hope that you found this article helpful. Stationery shops are increasing their demand by introducing new things in the market.
If you are coping up with the demand and seriously focused on the quality of the products then customers will be naturally attracted.
Here is a TIP# Get to know your customers and ask them for feedback to improve your services.
