In today’s time, electronic items have become the needs of the people, and it is increasing day by day. Therefore, India has become the second-largest country to demand them. During the Diwali season, the sale of these products is very high. If you are going to start this business, then during Diwali you can get a lot of profit from it. In this article, we are going to give you information about this business. Let us know in detail about the business.
Demand for electronic shop business
As we told you that today many people buy electronic items. These electronic items are items that are needed by the rich family, as well as people of middle-class family use it a lot. This is because many items in electronic items are such that are very useful in our everyday life. People like fan, TV, fridge, washing machine etc. all these things are used. If there is a lot of employment in the field of electronics, the demand for electronic shop business is also very high in the market.
What are the electronics products?
Talking about electronic products, there are many such products which are required all the time, some of them are as follows –
- mobile,
- Laptop,
- computer,
- Fridge,
- fan,
- TV
- Cooler,
- Washing machines,
- AC etc. and now.
All these products are made by different companies, which you can earn money by selling in your electronic shop.
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How to start an electronic shop business?
Before starting an electronic shop business, you should get information about this business. Because this business is itself a growing business. You have to invest lakhs of rupees in it. Therefore it is necessary that you do thorough research of how much demand is there for this business around you, how much you will get by investing in it, etc. To get information about this, you can also work in an electronic shop in the beginning, or if you have an electronic shop of someone you know, you can also get this information from them.
Required Space for Electronic Shop Business
When you have a strategy to start your business, then it is the turn to choose a place where your electronic items can be sold well. For this, you can choose an area with a large market where a large number of people are present. There are many customers who go to the big market to buy any item. Therefore, in such an area, this business can give you good profits. While choosing a place for this business, one thing you have to take care of is that your shop should be a little big so that there is no problem in visiting the goods. For this, you may need at least 1000 square feet of space.
License required for electronic shop business
In an electronic shop business, you have to follow certain legal procedures, such as –
- You have to choose a great name for your shop.
- GST registration has to be done.
- The shop will have to be registered under the local authority.
- You have to apply for a trade license.
- A current account has to be opened in the bank in the name of your business.
- If you are taking agency of a company, then you will also have to complete the paperwork of the deal done with it.
- Apart from this, it is also necessary to take BIS license and ISO license.
Companies making electronic items
Electronic items are manufactured by many companies. Some of which are as follows –
- LG
- Samsung
- Sony
- Siska
- Panasonic
- Whirlpool
These are all such companies which are famous not only in our country but all over the world. You can keep electronic items of these companies in your shop. You will get more profit from this. If you want, you can also take the agency of any one company.
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Where to buy goods in the electronic shop business?
For electronic shop business, you have to buy electronic items, for which you can move towards the wholesale market. Because there are many dealers who deal with electronic items. You will get information about this on the internet, you can contact them and buy goods.
The total cost incurred in the electronic shop business
This business will cost you in lakhs because the price of electronic items is slightly higher. You will need to invest at least 10 to 12 lakh rupees after mixing all the goods in your shop, rent of the place, electricity connection, and the salary of at least 2 staff etc.
Profit in Electronic Shop Business
If you talk about the profit from this business, then tell you that if you have sold TV, fridge etc. then you get 20 to 30% profit in it. Apart from this, in other items like mobiles, laptops, etc. you get 10 to 20 percent profit. If your customer gives you money in installments, you can benefit more from it. Let us tell you that if you are willing to earn more profit, then you should also bring different schemes for your customers from time to time. Which can attract the customer.
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Risk in Electronic Shop Business
Talking about the risk of this business, the risk is less in it. Just you have to keep in mind that you should check all your electronics items from time to time because if a product goes bad, it will disturb the customer as well as you.
In this way, you do the business of electronic shop this Diwali and get a chance to earn not only millions but crores.
