Want to give the youth around you the right ammunition for constructing their future? In other words, want to start your own stationery business? Well, The challenges are paramount if you want to start any sort of business for that matter. But stationery is something which is used by every single household of the neighborhood so there would not ever be any shortage of demands. Things that might debar you from succeeding is Mr. X’s stationery shop which has been selling stationery for years and years now. Maybe his geometry boxes look better. Or maybe his pencils don’t break easily. Well, Jokes apart. What I mean is there is competition, and you need to stand out to make your business flourish. Let us look at a few factors to consider before starting a stationery business.
- Finding a good supplier is the first and foremost job. There are several factors to be considered while doing so. The main factors include price and quality. You should be able to get your material at a cheap rate without compromising on the quality of course. So you might have to test quite a few of them until you get the ideal one. It is also prudent to keep a supplier as a standby just in case one fails at the last moment. There are several renowned stationery suppliers in Malaysia to cater to this need of yours.
- You need to let people know what you have done, by that I mean the fact that you’ve set up a stationery shop. Marketing and targeting the right audience is a necessary task in making your business flourish. Social media and the internet are the best modern day platforms to market your business. You can set up small advertisements in coaching centers or junctions in your neighborhood as well.
- People should be able to see your shop in order to come and purchase anything. It won’t do good for your business if it is hidden somewhere and only a few people know about it. Main roads and road junctions where a lot of people pass by frequently are ideal places to set up your shop although acquiring some land in such places might be tedious.
- Lastly and most importantly, you need to have a proper and prudent plan of action or a business plan as they call it. Information related to profitability, equipment needs, budget, marketing goals, and projected income should be a must in your plan of action. Every great business started with an intelligent plan of action. You can also conduct detailed research in your area and fix your target audience before setting up a plan.
If your aim is to set up an online stationery store in Malaysia, you might chuck off the location factor and concentrate on the other three factors. Social Media marketing then becomes even more crucial as you can intelligently provide links and advertisements to promote your business.
This is the overall outline to initiate a business. It is quite a humungous job to make your business flourish but keeping these points in mind one can accomplish the job more easily than their counterparts.
