The world is rapidly moving towards E-Commerce business thus giving a great scope to prosper for the online grocery business. With the busy schedule and fast-moving lifestyle, people are getting very less time for shopping and marketing. That is why the online market in India and world has rapidly shown a huge percentage of growth. So if you are looking for any e-commerce related business idea, then grocery delivery service is a great option.
Market Potentiality of Online Grocery Business
There are no alternatives of required household groceries. You will need it on daily basis and if you can provide a service of delivering the goods at the doorstep, then it will become a boon for the users.
However, with the availability of small vendors and grocery stores in every corner of the country, the competition in the market is a bit high. But it is a completely new venture as there are very few competitions in the online grocery business. The demand and the customer base needs to be created with efficient marketing and promotion of the services. The market is huge for online grocery business and the success will completely depend on your efficient management.
Points to Consider Before Starting Online Grocery Business
The online grocery business is a very fresh and new business venture. Thus if you can succeed in this, you can have a monopoly business. But every business comes with great risk and likewise as the concept of the online grocery business is new, there will be many things which will be completely unknown to you. So below are the few points that you should consider before you start online grocery store: –
- Start from small: As it is a new business scope, it is suggested to begin on a small scale. Start with few staffs, small services or offerings, restricted service area. After some time, when the business earns the goodwill and brand name, you can easily increase the same.
- Area of Service: The online grocery business is most likely to prosper in posh areas. So, choose your area of business carefully. Do a proper research for selecting the location. There are many areas where there are high society flats and complexes but very fewer shops and no option other than malls. Those are perfect areas, to begin with.
- Storage: If you provide service of perishable items like milk, fruits, vegetables and others, then you need to a have a proper storage facility for the same. You need to have proper place to store your items. The location of the storage all needs to be in close proximity to the location where you will be providing the services.
- Hiring of Staffs: You will need delivery boys to deliver the items. Take proper interview and do complete backgrounds check before hiring. The staffs that you are hiring should have complete knowledge of the location and ways.
- Suppliers: Get the items from reputed and known suppliers. As you need to buy products in bulks, so find out if there is any credit facility or not. The authenticity of the supplier is a must as your complete brand reputation will depend on the products you sell.
These are the few things that you need to consider before starting the online grocery business. The most important factor for the success of this business is promotion and online presence. So you need to give extra attention to that. The same is discussed below: –
- Create a Website: Get in touch with some good digital marketing company in your location and create a user-friendly website. A website is a must in the online grocery business as people will be shopping through your website only. Along with the creation, you also need to do a regular update on the same like the change of prices or inclusion and exclusion of items. You may need to hire a professional for the same job.
- Create App: Almost the whole world is running with Smartphone. So, you also have to create a free app for your online store that will be compatible in all kind of Smartphone’s platform.
- Promotion: As the online grocery business is a new concept, thus it needs a relatively high rate of promotion. Ads in newspaper, magazine, posters, billboards, television, radio etc are a great way to market your business. The digital marketing company will also help you in this regard along with the creation of the website.
Steps to Start an Online Grocery Business
- Business Plan: Craft a perfect business plan about how you are planning to run the online grocery business successfully and what are the steps that you are planning to take to grow the business to the next level. A well-crafted business plan will also help you to get financial assistance from banks.
- Research: As it is a new business venture and there is very few existing online grocery business, you need to work very hard on the research step. Find out the potential market scope and place to start the same along with the different pros and cons of the same.
- Investment: Starting an online grocery store will require a relatively higher amount of investment. The required amount will depend on the scale of the business you are starting. With your research, you can make an estimate of the same. With the help of the business plan, you can get loans from banks but you also need to have some amount of liquid cash with you.
Taking legal permission will not be a big issue in this if all of your documents are in place. The online grocery store is definitely the gateway to the new era of marketing and you can make it huge with your skills and hard work.