10 Steps to start E-commerce Business in India

10 Steps to start E-commerce Business in India10 Steps to start E-commerce Business in India

Online business has been growing year on year. In India, it is growing at a slower pace compared to other countries in the world. While there are several online business players in different fields, the space is just filled with few thousand of e-commerce sites. If you are internet savvy, you can start e-commerce business in India and create online store to make money.

10 steps to start e-commerce business in India

1) Building your online store

Building an online store is not that easy. You can buy a website domain name and hosting package which would cost you less than $ 110 (< Rs 7000) per annum. This process may take just 5 minutes time. However building an online e-commerce store would be little tough. While you may use less costlier softwares, it may not cater your requirement. Hence once you decide what you want to sell on your e-commerce business, you should approach web designers and start working on creating e-commerce site that best works for your business. There are several ready made software’s for e-commerce sites, but they have several limitations. The cost of building e-commerce site would depend on your requirement and would start from $ 2,000. However, buying a software package would not be sufficient. You may need to maintain this online store regularly and some cost would be involved.

Also Read: Step-By-Step Process on creating a website

2) Build your site which is mobile friendly

Due to 3G and 4G coming into picture, no doubt, majority of future business is going to work on mobile. You need to ensure that your e-commerce site would work better on mobiles. This could be one time cost, but any customization would cost you on going basis.

3) Secured payment gateway

Customers need to make payment for the purchases done at your online store. Hence you need secured payment gateway. Generally your bank would offer you such payment gateway. However, you can also consider third parties payment gateways to have more control on your transactions. You should note that such transactions done through bank or third party involves transactions cost.

4) Indicate your Terms and Conditions clearly

When you are making sales on your online store, you should indicate terms and conditions of the product which you are selling. It may be related to the product or payment or refund policy etc. This would help you to clearly state these things to customers instead of going into legal issues at later point of time.

5) Organize your products

You need to organize your products in the online catalog in the manner which is easily noticeable by customers. If your customers need to spend lot of time to search the products what they need, growing your business would be difficult.

6) Good customer support

Many business fail as they do not have good customer support. In case customer had a query or need clarification before or after sale, he would prefer to talk to customer support. If you do not have good customer support, growing your business would be difficult.

7) Don’t talk about profits in initial months or years

Once you start your e-commerce business, you should reduce your profits in initial months or years of starting. This would help you in getting more customers as you are selling at less cost.

8) Ask feedback after your sell

When you sell the products online, customers may or may not give their feedback. It is always good to ask feedback so that it would give the pulse of the customer.

9) Improve on the negative feedbacks from customer

When customer is not happy, you should review his feedback and check for any improvements. This way you would not such problem with other customers. Over a period of time, you would sell products with good customer support and the negative feedbacks would reduce.

Also read: Photo Mugs and Plates Business-Creative small business idea

10) Marketing strategies

While your business is online, you may require adopting specific marketing strategies to grow your business. You can create a Facebook and Twitter pages. You can go and advertise on Facebook with lesser costs so that such online stores would be visible to many internet users.

Starting an e-commerce online store is one of the best small business ideas for those who are tech savvy or who want to take advantage of growing technology and sell products online.

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How to start a courier business

How to start a courier businessHow to start a courier business

If you do not have good education or you want to have a family run business, you can choose starting a courier business. You can start courier business on your own or you can consider taking franchise. Franchise option would be better option so that you need not require a big set-up to start such business.

How to start a courier business

What parcels you want to delivery: You need to choose whether you want to deliver small packages or envelopes only or whether you want to choose large cargo services delivery too. There are several other services like sensitive cargoes, medical and chemicals cargo deliveries, perishable goods delivery etc. Based on the services, your overall business set-up would depend. Large cargo services would give good earnings.

Also read: 10 Hobbies that can be converted in business to make money

Scope of your services: You need to select whether you want to cater for domestic or international services. If you select Franchise method, you need not worry as major courier franchise would cater services across the globe. You would require less investment if you select franchise method and you can increase your scope of you services internationally.

Price chart: If you are doing your own courier servicing, you may need to fix price chart on your own. It would depend on the distance. On the other side if you opt for Franchise, they would provide indicative price chart.

Location: Chose a location which is near to offices or which is reachable to general public.

Tie-up with small business or companies: You can tie-up with small business or companies to deliver the envelopes and cargo services pertaining to them.

Final thought: Don’t expect that you can make decent money out of this courier business service. Starting a courier business, would provide to normal revenues over a period of time. This would be a good part-time business who wants to spend few hours in a day especially in the second half of the day to earn some money.

Readers, I would like to have your feedback and suggestions about this article. You can leave a comment in below comments section.

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Start-ups – Policybazaar.com-Selling insurance policies-Rs 50 Crore Revenue in 5 years

Start-up's - Policybazaar.com-Selling insurance policies-Rs 50 Crore Revenue in 5 yearsStart-ups – Policybazaar.com-Selling insurance policies-Rs 50 Crore Revenue in 5 years

Policybazaar.com is a webportal which works as web aggregator, technology and marketing company and sells insurance policies. In 2008 when this company was started, not many insurance companies have come forward to go through policybazaar.com. In the last 5 years it gained good reputation and now policybazaar.com sells thousands of policies every month. The credit goes to promoter Yashish Dahiya.

How Policybaazar.com was started?

Dahiya’s father was cheated by insurance agents. Every 3 years, his insurance agent used to approach his father and ask him to take new insurance policies which are insurance-cum-investment products. Such products charge huge charges in initial period of policy term. Due to this an individuals would to get lesser than what they invested. Insurance agents never sold health insurance, health insurance and motor insurance which are the main requirements for individuals. Instead they used to sell insurance-cum-investment products to get good commissions for 1 to 3 years timeframe.

How Policybazaar is helping ?

Agents used to fill forms and mis-sell wrong policies to individuals.

Policybazaar would provide information about all major insurance products and compare such products for an individual based on his age and risk coverage requirement. In such case, an individual would know the risks involved and premiums to be paid. Currently 30% of policies sold by Policybazaar.com are term insurance, health insurance and motor insurance products.

How the company is doing in terms of financials?

Policybazaar.com was started in 2008. It made revenue of Rs 3 Lakhs in first year. In 2012-13, it made revenue of Rs 50 Crores. In 2013-14, it aims to do Rs 75 Crores turnover and Rs 100 Crores turnover by 2014-15.

It has started its operations with capital of Rs 80 Lakhs in 2008. In 2008, Info Edge has invested Rs 20 Crores. In 2011, Intel Cap has invested Rs 30 Crores in this company. Such funding has helped Policybazaar.com to grow their business.

What are the challenges faced?

Due to slowdown, it diversified its business model to credit cards and loans also. This accounts to 8% of the total revenues. Total visitors to the web portal were 4 Mn per month which got reduced to 1 Mn per month now. This is due to the fact that they closed traffic from indirect channels as they were not adding value to their business. They were just viewers with no conversions. With such strategy, they were able to increase the conversion rate.

Currently 85% of business comes from e-commerce and policy selling. Indians aren’t comfortable in buying products online. This is the major challenge which still exists.

Policybazaar.com is helping individuals in taking right insurance policies. Due to this several individuals are believing Policybazaar.com.

Readers, I would like to have your feedback and suggestions about this article. You can leave a comment in below comments section.

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How to start a pharmacy business in India

How to start a pharmacy business in IndiaHow to start a pharmacy business in India

Pharmacies have good demand in India. If you can know the basics of Pharmacy and medicines, you can start such business and earn decent money. This is a good profitability business in India. Pharmacies sell medications to individuals and medical supplies to hospitals. These days they are part of hospital structure so that they can be acted as immediate supporters to patients.

Also read: How to start an advertising business in India

Various types of Pharmacies which you can open

There are several ways where you can open a pharmacy business.

1) Buy existing pharmacy: If you do not want to start from scratch, you can buy existing pharmacy shop. While you need not incur any costs for set-up, it provides an opportunity to get immediate profits from day one. However, you may need to do renovation and take care of licensing requirements before you start such business.

2) Open a franchise pharmacy Shoppe: This is another method of starting a pharmacy business in India. Instead of doing everything from scratch, you can open a franchise business in India, your franchisor would help you in getting necessary license, helps you in setting-up pharmacy business and provide you ample training to start a pharmacy business. This is good way if you think you cannot do it on your own and look for mentors.

3) Staring an independent pharmacy shop: If you would like to be independent, you can start an independent pharmacy shop. However you need to take care of everything from scratch and open such pharmacy shop. If you still want to take the pain, you can do it to get good profits.

How to start a pharmacy business in India

a) License requirements: You need to have license pharmacist during working hours of the pharmacy. In India, generally, medical shop / pharmacy shop owners would use a licensed pharmacist name and run the business as it requires specific qualification to get such license.

b) Start-up costs: Prepare a plan on how much the start-up costs would be. You need to consider setting-up cost for pharmacy, furniture, lease charges, monthly rental, and pharmacy costs, medical equipments cost, salaries of staff etc. This would give clear indication about the budget you need to allocate to start such business.

c) Location: Select location where there is good walking traffic. This would help you to let people know about your pharmacy shop. A commercial place with good traffic can bring more customers to your pharmacy shop.

d) Organizing properly is a key: If you go to some pharmacy shops, they are very organized that any medicine you ask they would be able to pick-up in few seconds and are able to close the transaction. But some pharmacy shops would take several minutes to figure out where the pharmacies are. This is due to the fact that former pharmacies are well organized in placing the medicines at right place and able to provide them quickly. Which one you want to choose?

e) Value added services: Apart from medicines and medical equipments, you can also place beauty related products or soaps which would help you to get more customers. Though your primary products may not be such products, but people would come often to purchase them along with medicines.

Also read: How to start an awesome book store

f) Marketing strategies: While you may not require major advertising and marketing strategies, you should keep giving some samples to regular customers which would increase the mouth advertising. Many pharmacies are offering discounts up to 10% of pharmacy costs, hence providing such offers would help you to get more and more customers.

Readers, I would like to have your feedback and suggestions about this article. You can leave a comment in below comments section.

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A K Enterprises – Office Automation Products-started with Rs 26,000 seed capital

AK Enterprises-Office Automation Products​-started with Rs 26,000 seed capital AK Enterprises-Office Automation Products​-started with Rs 26,000 seed capital

Many of us think that to start a small business, we would need good qualification and large seed capital. What if I would tell you that you can still be successful in starting a business, you don’t need any qualification and require small amount as seed capital. Anand from AK Enterprises has proved this to be true. Start up success story of AK Enterprises depicts on how you can start a company with a small seed capital of Rs 26,000 (USD < 500)

Also read: Start-up success story – Madrat Games – Educational board games

About Anand Kolwankar

Anand Kolwankar comes from a low middle class family. To support his family financially, he stopped his education after higher matriculation and started working. He worked in several small companies and large companies like Panasonic, Siemens etc. His 15 years of career with such companies has taught him about marketing tactics. He decided that if he has to start a business, he should choose marketing domain as he got vast experience in that area. He decided that he should start his business in Aug, 2009. However he does not have seed capital. So he decided to continue his job for one more month, so that he can get one month salary of Rs 26,000 which can be used as seed capital for his new business.

How he started AK Enterprises?

With the support of his wife who was doing a job, with seed capital of Rs 26,000, he started AK enterprises in Sep, 2009. He hired 12 employees to run the business. AK Enterprises offers wide range of office automation projects which provides automatic doors, biometric systems, burglar alarms, CCTV cameras, fire alarm, time attendance systems, safers, lockers, metal detectors and baggage scanners etc.

Cost optimization

Since he had small seed capital of Rs 26,000, he decided to run his business from home. His networking has bought him more business. More than 50 customers were happy for their sales after service. After 6 months he felt that he should shift to formal office environment. He opened office in Borivali, Mumbai and started hiring engineers and marketing team.

What are the challenges faced?

Working capital was the main challenge. They need to pay timely payments to dealers who supplied all equipments. However customers took between 60 to 90 days time to make payments. Managing with dealers was a big challenge. Once there was a thought to shut down the business. But slowly they were able to manage the financial crunch.

What are the future plans of AK Enterprises?

Currently, AK Enterprises is having more than 20 employees who are engineers and marketing team. Company have made a turnover of Rs 50 Lakhs (around USD 85,000) up to Jun-2013. In this financial year, AK Enterprises expects a turnover of Rs 1.3 Crores with their expansion plans. They want to expand in pan-India. However they would like to go at little slower pace due to capital issues.

Also read: Start-up success story-Zicom -Security Solutions

Let us wish AK Enterprises to achieve their targets and provide innovative services to the users.

Readers, I would like to have your feedback and suggestions about this article. You can leave a comment in below comments section.

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Team – Allbusinessideas.com

Start-up success stories-Gupshup-Mobile social messaging service

Start-up success stories-Gupshup-Mobile social messaging serviceStart-up success stories-Gupshup-Mobile social messaging service

Can you invest Crores of rupees in a business and wait for years to be successful without earning any money. Do you have the guts to do that? Beerud Sheth has done it. The kingdom he built is expected to cross Rs 100 Crores in this financial year (FY 2013-14).

Who is Beerud Sheth?

Beerud Sheth is the founder of Gupshup.me which provides mobile social messaging service. Beerud Sheth is a computer science graduate from IIT, Mumbai from 1990 batch. After completing his engineering graduation, he moved to Boston, US to do master degree. Sheth believes that to do business, one should have to gain experience and should have funding. With this aim, he joined Merrill Lynch and worked for 5 years. After gaining some experience, he quit the company.

First venture eLancer

Sheth along with one of his friend, has started his first venture eLancer which is a keyword combination from electronic and Freelancer. eLancer provides platform for freelancers to show their talent. This California based company has become world’s largest market place for online services for freelancers.

What inspired Sheth to start Gupshup

Aspiring to do something more, Sheth has observed the mobile phone boom in 2004. He wanted to start his new venture something around mobile phones. People were depending too much on SMS. What if a social messaging happens through mobile phone? This thought has created an idea in Sheth mind to start Gupshup.

What exactly Gupshup.me does?

Users can share content with other users and also view information about banking, stocks, mutual funds etc.  Gupshup would check geographical user’s behavior on what they are viewing and sharing so that the data can be used and shared with companies where they can do targeted advertising. Gupshup would gather this data from their database about users, by upfront declaring in terms and conditions so that the data is legally used. Gupshup is formed in 2005 with initial seed capital of Rs 5 Crores.

How Beerud Sheth got funding for Gupshup?

Beerud has used his savings, sourced funds from family members, friends and other investors to the tune of Rs 5 Crores. These funds have been used to hire employees and to develop software for Gupshup.

What are the challenges faced?

This is a new idea and was not tested in India. There are high chances that it would fail. It is a high risk venture. However, Sheth has not concerned about this. He started this venture. After one month of starting the business he got only 1,000 users. Within 18 months, the users increased to 30,000. There was no revenue for more than one year. More money required to grow the business. Gupshup got additional funding of $ 10 Mn (Rs 50 Crores) from a group of investors. Sheth feel that every entrepreneur should factor such time lag before they get revenues. The revenues started flowing and it made revenue of Rs 5 Crores in 2008-09.

Currently Gupshup has 150 employees with 6 Crore users. It also caters the needs of 500 brands of companies and 25,000 small business owners. Sheth expects that Gupshup would do a turnover of Rs 100 Crores in the financial year 2013-14.

Let us wish Gupshup team to achieve their targets and provide innovative services to the users.

Readers, I would like to have your feedback and suggestions about this article. You can leave a comment in below comments section.

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How to start your own interior designing business

How to start your own interior designing businessHow to start your own interior designing business

Interior designer creates visually appealing interior environment through furnishing and decors. If you like creativity, you can choose this as a start-up business idea. In this article, we would detail about how to start your own interior designer business.

Future of Interior designing business

Interior designing business is growing year on year. It is estimated that interior designing business would grow to $ 40 Bn by 2015 across the world. You can choose growing countries like India and China for your interior designing business as there are several middle class families who are still aspiring to have their “dream home”.

Also read: How to start advertising agency in India

How to start your own interior designing business

Education: You can do professional degree in interior designing which would add value to your interior designing business.  In US, you need to have interior designing qualification from National Council of interior designing to start such profession or business.

Prior experience is preferred: You may start your own interior designing business from scratch. However it would be good idea to work with an interior designing company to get good knowledge and have relationship with people before you start such business. These would let you know how the business runs, what are the price chart, what would be profits etc.

Do enough homework: Does your locality or community support interior designing? Is there enough market in your area? Who are the competitors and is there any potential for such business in future. Once you do some homework towards these points, you would be able to assess how your business would run.

Type of design: You should design whether you want to do residential properties interior designing or for commercial properties. While residential interior designing volume would be low, the profit margins would be very high. On the other hand, commercial interior designing volume is extremely high, but profit margins would be very low. This is due to the fact that there is heavy competition in commercial space.

Choose a location:  Decide whether you want to do this business from home or at rented office. If you want to rent an office, you should check for location which is easily commutable to general public. You need to consider the cost of rent for such office.

Prepare business plan: Prepare your business plan on how much it would cost you for office premises (if any), marketing materials, business promotion expenses etc. Assume that you would not get any revenue for first 6 months. Prepare your plan which indicates by when you would be break-even (no profit, no loss). This would give clear idea about what you would be the profits.

Building relationships: Build your relationships with Architects, builders, contractors, realtors so that your existence is known to them which would help in getting new orders. Register yourself with chamber of commerce, builder associations and interior design associations. This would help you to meet other interior designers occasionally to know the latest developments in interior designing business. Subscribe to interior designer magazines, online forums etc. to know the latest happenings in the world.

Also read: How to start a dance school or dance academy

Marketing your interior designing business: Create collaterals, brochures etc. and prepare your marketing plan. Initially start advertising in news papers and relevant magazines. Try to get at least 2-3 interior designing orders. Prove yourself. Word of mouth advertising is the best advertising which comes free of cost.

There is a good potential for interior designing business in growing countries like India, China and Malaysia.

Readers, I would like to have your feedback and suggestion about this article. You can leave a comment in below comments section.

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