• This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn more.

Want to start a business need ur advice

Unlucky

Banrighted
Banrighted
#1
Hello guys so i was thinking about starting my business of retail selling of electrical appliances like switch,plugs , lights, fans , wires etc ( just a general idea) . We have our own shop but it is to a side of main market , capital is not a issue . And furthermore my brother is electrition himself but within 500m of our shop we have 3 other shops so competition is very much so . What u guys say?
 

ElementX

Braindead
Game Admin
#4
for starters, you can check what other stores do not have and you get that, custom stuff, you can maybe order it in bulks from aliexpress. offer cheap service of installing some of the products to your customers, many of them are old and can not find anyone to do it, offer them discount. Above all, be freaking polite, i will rather pay more than have some rude cow to deal with. Also, add stuff needed for water appliances, we all know water and electricity do not mix, but why not? you be the first! Advertise a lot. Funny thing about add space, use dumpsters, it's kinda bad for your image, but everybody needs to toss their garbage, and when ever someone has some problem, something got busted, that person will have to toss the broken part or what ever in trash, and he will need someone to repair his problem, he will be in hurry to do it and your number will be there, somewhere near the trash if it has a land post. I am not kidding you, i noticed ppl putting stickers on dumpsters, and that is the only place at least one person form one apartment needs to visit frequently. Create loyal customers, everybody needs an honest salesman who respects them. enable 24h repair service to them, create a good team that can repair most of the stuff around the house. and if all fails, open your storage area to gamblers and substance abusers.
 

redzYe

#4iS
Kickrighted
Warteam Member
Donator
#5
Well actually if you ask me, I would tell you not to do it. At least not in the location you have planned.

Within 500m, 3more shops which sell the same things.. This means only every 4th customer will be coming to you. Too much competition will result in a lot of price reduction which will be negative on your winnings.

I would rather suggest you to change the location or burn the other 3 shops.
 

GammaDeltaII

RiddleBox
Retired Admin
#7
Agree with @redzYe. Better think of something unique. Like with restaurants, you can have multiple, but not with the same menu obviously. Check out the competition, find out what's not there and "adapt the menu" to the needs of the locals. Try and find or create your own niche in the market (literally and figuratively :p).