If you are looking for a business idea which is not affected by the ups and downs of the economy, then school and office supplies business is the perfect choice for the same. Like food business, the school and office supply business also get never or very less affected due to market recession or economic imbalance. The need stationery are always in there in schools and offices, thus it is a safe and profitable business idea to venture into.
Market Potentiality of School and Office Supplies Business
The market potentiality of this business is huge in our country. Being a rapidly developing country, there are new offices and schools getting started in every now and then. Whatever, the market situation may be, the schools and offices will have the constant demand of stationeries like the pens, pencils, staplers, copies papers, envelopes, ink, paper clips, refill cartridges etc. Thus making the school and office supplies business a recession free business idea which has a huge and constant demand in the market.
Advantages of Starting a School and Office Supplies Business
Recession Free: –
Whatever the market condition may be, the demand of stationeries by the schools and offices will always be there in the market. Thus, you can a constant sale over the year which you can easily grow with your management schools.
With the increasing numbers of schools and offices in India, the market for different stationeries items has increased a lot in past few decades. Thus, the demand for the different stationary items has also increased a lot.
Non-Perishable Stock: –
The stock in the school and office supplies business usually doesn’t come with expiry date. Most of the items in this business are non perishable and can be kept in stock for a longer period of time without the danger of getting spoiled or damaged in compare to other businesses.
Disadvantages of Starting a School and Office Supplies Business
Growth of E-Commerce Business: –
With the rapid development of online market, most of the offices and schools are opting to order their requirement of stationary online. It saves time for physical visit to shop and can also compare the offered prices by just sitting at a single place.
Being a great and profitable business idea, there is a huge competition in market for the school and office supplies business.
A business idea is always comprised with both pros and cons. Before starting the business, you need to do a thorough research about the same and find out the different aspects of the business. This will help you to plan your steps to use the pros for the benefit of the business and take necessary measures to counter the cons.
Steps to Start a School and Office Supplies Business
Arrangement of Capital: –
The requirement of capital will depend upon the scale of your business. You can get financial assistance from bank by submitting a well-crafted business plan.
Registration of Business: –
You also need to register your business as per your country or state law.
Take all the necessary steps to market your business, so that every potential customer knows about your existence.
Points to Consider for a Successful School and Office Supplies Business
Urban and metro cities are the best location for starting a school and office supply store. In cities, there are more schools and offices in compare to rural areas thus the business opportunity is higher in cities. However, operating from cities, you can also cover your nearby urban areas if you want to.
For running a business successfully, you need to possess a lot of skills. Firstly, you need to have a great negotiation skill to get the best profit margin from your sales and build a good relationship with your customer. Over that, you also need to maintain your inventory and plan necessary steps to grow your business.
To cope up with the competitive market, you need to take advanced steps to have a successful business. Below is the few modern technique which you can use: –
- CCTV Camera: – You will need to stock a huge volume of stationary in your store. There is a huge risk of items getting stolen if you have hired labors as most of the items will be small and easy to pick. Thus, CCTV cameras are a great option to restrict the same.
- Software to Maintain Stocks: – It is quite impossible to manually maintain the record of the items you are purchasing and selling. Thus, use of software will ease the job for you and also help in calculating your earned profit.
- Design a Website: – Designing a website will help you to have an online presence of your business. This will also allow your customers to place their orders online and give your business a greater access to customers.
These are the basic steps that you need to take to run your school and office supplies business successfully. Along with this, there are a lot of other things which you can implement to have a successful run in the business. Those you need to find out with you regular experience in running the business and your individual skills.