{"id":388,"date":"2020-12-17T10:15:45","date_gmt":"2020-12-17T10:15:45","guid":{"rendered":"https:\/\/swaritadvisors.com\/blog\/?p=388"},"modified":"2021-01-05T12:33:23","modified_gmt":"2021-01-05T12:33:23","slug":"start-a-retail-shop-in-india","status":"publish","type":"post","link":"https:\/\/swaritadvisors.com\/blog\/start-a-retail-shop-in-india\/","title":{"rendered":"Start a Retail Shop in India: Factors &#038; Licenses to Consider"},"content":{"rendered":"\n<p class=\"has-drop-cap\">The term \u201cRetail Business\u201d denotes the purchase of finished goods from the producers or manufacturers and selling them further to customers. Further, India ranks at the top position in the world in terms of retail and wholesale trade and contributes around 23% and 8% to India\u2019s total GDP (Gross Domestic Product) and employment, respectively. However, if an individual wants to start a retail shop in India, then, in that case, he\/she needs to first consider the factors involved and the licenses required.<\/p>\n\n\n\n<p>In this blog, we will discuss the\nfactors and licenses required to start a Retail Shop in India.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3abaf09cc5d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3abaf09cc5d\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/swaritadvisors.com\/blog\/start-a-retail-shop-in-india\/#Growth_of_Retail_Sector_in_India\" title=\"Growth\nof Retail Sector in India\">Growth\nof Retail Sector in India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/swaritadvisors.com\/blog\/start-a-retail-shop-in-india\/#Reasons_for_the_Growth_of_the_Indian_Retail_Sector\" title=\"Reasons for the Growth of the Indian Retail Sector\">Reasons for the Growth of the Indian Retail Sector<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/swaritadvisors.com\/blog\/start-a-retail-shop-in-india\/#Benefits_of_Starting_a_Retail_Shop_in_India\" title=\"Benefits of Starting a Retail Shop in India\">Benefits of Starting a Retail Shop in India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/swaritadvisors.com\/blog\/start-a-retail-shop-in-india\/#Different_Ideas_to_Start_a_Retail_Shop_in_India\" title=\"Different Ideas to\nStart a Retail Shop in India\">Different Ideas to\nStart a Retail Shop in India<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/swaritadvisors.com\/blog\/start-a-retail-shop-in-india\/#Grocery_Stores\" title=\"Grocery Stores\">Grocery Stores<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/swaritadvisors.com\/blog\/start-a-retail-shop-in-india\/#General_Merchandise_Stores\" title=\"General Merchandise\nStores\">General Merchandise\nStores<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/swaritadvisors.com\/blog\/start-a-retail-shop-in-india\/#Speciality_Stores\" title=\"Speciality\nStores\">Speciality\nStores<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/swaritadvisors.com\/blog\/start-a-retail-shop-in-india\/#Departmental_Stores\" title=\"Departmental Stores\">Departmental Stores<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/swaritadvisors.com\/blog\/start-a-retail-shop-in-india\/#Discount_Stores\" title=\"Discount\nStores\">Discount\nStores<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/swaritadvisors.com\/blog\/start-a-retail-shop-in-india\/#Mom_and_Pop_Store_Local_Kirana_Stores\" title=\"Mom and Pop Store\n(Local Kirana Stores)\">Mom and Pop Store\n(Local Kirana Stores)<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/swaritadvisors.com\/blog\/start-a-retail-shop-in-india\/#Top_Retail_Stores_in_India\" title=\"Top\nRetail Stores in India\">Top\nRetail Stores in India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/swaritadvisors.com\/blog\/start-a-retail-shop-in-india\/#Licenses_Required_to_Start_a_Retail_Shop_in_India\" title=\"Licenses Required to\nStart a Retail Shop in India\">Licenses Required to\nStart a Retail Shop in India<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/swaritadvisors.com\/blog\/start-a-retail-shop-in-india\/#Business_Registration\" title=\"Business Registration\">Business Registration<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/swaritadvisors.com\/blog\/start-a-retail-shop-in-india\/#Documents_required_for_obtaining_Private_Limited_Company_Registration\" title=\"Documents required for\nobtaining Private Limited Company Registration\">Documents required for\nobtaining Private Limited Company Registration<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/swaritadvisors.com\/blog\/start-a-retail-shop-in-india\/#GST_Registration\" title=\"GST\nRegistration\">GST\nRegistration<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/swaritadvisors.com\/blog\/start-a-retail-shop-in-india\/#Documents_required_for_obtaining_GST_Registration\" title=\"Documents required for\nobtaining GST Registration\">Documents required for\nobtaining GST Registration<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/swaritadvisors.com\/blog\/start-a-retail-shop-in-india\/#Shop_and_Establishment_License\" title=\"Shop and Establishment\nLicense\">Shop and Establishment\nLicense<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/swaritadvisors.com\/blog\/start-a-retail-shop-in-india\/#Documents_required_for_obtaining_Shop_License\" title=\"Documents required for\nobtaining Shop License\">Documents required for\nobtaining Shop License<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/swaritadvisors.com\/blog\/start-a-retail-shop-in-india\/#Factors_to_Consider_While_Drafting_Retail_Shop_Business_Plan\" title=\"Factors to Consider While Drafting Retail Shop Business Plan\">Factors to Consider While Drafting Retail Shop Business Plan<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/swaritadvisors.com\/blog\/start-a-retail-shop-in-india\/#Analysis_of_Suitable_Location\" title=\"Analysis of Suitable Location\n\">Analysis of Suitable Location\n<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/swaritadvisors.com\/blog\/start-a-retail-shop-in-india\/#Contact_Vendors\" title=\"Contact Vendors\">Contact Vendors<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/swaritadvisors.com\/blog\/start-a-retail-shop-in-india\/#Determine_In-house_Store_Policies\" title=\"Determine In-house\nStore Policies\">Determine In-house\nStore Policies<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/swaritadvisors.com\/blog\/start-a-retail-shop-in-india\/#Formulate_Marketing_Strategy\" title=\"Formulate Marketing\nStrategy\">Formulate Marketing\nStrategy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/swaritadvisors.com\/blog\/start-a-retail-shop-in-india\/#Hire_the_Right_Team\" title=\"Hire the Right Team\">Hire the Right Team<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/swaritadvisors.com\/blog\/start-a-retail-shop-in-india\/#Compliance_of_Legal_and_Financial_Formalities\" title=\"Compliance of Legal and\nFinancial Formalities\">Compliance of Legal and\nFinancial Formalities<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/swaritadvisors.com\/blog\/start-a-retail-shop-in-india\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Growth_of_Retail_Sector_in_India\"><\/span>Growth\nof Retail Sector in India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The Growth of the\nIndian Retail Sector can be summarised as:<\/p>\n\n\n\n<ol><li>According to an article published by <em>Live Mint<\/em> on <em>26.02.2020<\/em>, the <em>Indian Retail Market<\/em> is projected to reach the US $1.1 \u2013 1.3 trillion by the end of the year 2025, from the US $0.7 trillion in 2019, as the same is growing at a CAGR (Compound Annual Growth Rate) of 9 to 11%;<\/li><li>As per a report published by the Boston Consulting Group in association with the Retailer Association of India, the Indian Retail Sector is likely to exceed the trillion-dollar mark;<\/li><li>According to the report named \u201c<em>Retail Industry in India<\/em>\u201d, published by the <em>India Brand Equity Foundation <\/em>(IBEF) on <em>04.12.2020<\/em>, the Indian Retail Industry is projected to cross the US $1 trillion by the end of the year 2020;<\/li><li>As per the details provided by the <em>Department of Promotion of Industry &amp; Internal Trade<\/em> (<strong>DPIIT<sup><a href=\"https:\/\/dipp.gov.in\/\" class=\"text-primary\"><strong><em>[1]<\/em><\/strong><\/a><\/sup><\/strong>), the Indian Retail Sector has received an FDI (Foreign Direct Investment) of the <em>US $2.12 billion<\/em> during <em>April 2000 and March 2020<\/em>;<\/li><li>According to a report published by <em>Statista<\/em> on <em>16.10.2020<\/em>, the market size of the Indian Retail Sector is expected to reach the amount of the <em>US $1.7 trillion<\/em> by the end of the year <em>2026<\/em>, up from the US $950 billion in 2018;<\/li><li>As per a report named \u201c<em>India- The Top Retail Destination<\/em>\u201d, published by the <em>Invest India (National Investment Promotion and Facilitation Agency)<\/em>, the Indian Retail Market has undergone a major change and has witnessed <em>incredible growth in the past ten years<\/em>. As a result, the overall retail market is set to <em>exceed the threshold of the US $1.75 trillion marks<\/em> by the <em>end of 2026<\/em> from the US $795 billion in 2017;<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Reasons_for_the_Growth_of_the_Indian_Retail_Sector\"><\/span>Reasons for the Growth of the Indian Retail Sector<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The reasons for the growth of the Indian Retail Sector are as follows:<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2020\/12\/Reasons-for-the-Growth-of-Indian-Retail-Sector.png\" alt=\"Indian Retail Sector growth factors\" class=\"wp-image-395\" width=\"532\" height=\"532\" srcset=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2020\/12\/Reasons-for-the-Growth-of-Indian-Retail-Sector.png 1000w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2020\/12\/Reasons-for-the-Growth-of-Indian-Retail-Sector-150x150.png 150w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2020\/12\/Reasons-for-the-Growth-of-Indian-Retail-Sector-300x300.png 300w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2020\/12\/Reasons-for-the-Growth-of-Indian-Retail-Sector-768x768.png 768w\" sizes=\"(max-width: 532px) 100vw, 532px\" \/><\/figure><\/div>\n\n\n\n<ol><li>Growth of Middle-Class Income Consumers;<\/li><li>Increase in the Count of Working Women;<\/li><li>Eliminates Intermediaries in Distribution Channel;<\/li><li>Possesses Potential to Reach Rural Number;<\/li><li>Entry of Large Business Tycoons;<\/li><li>Demand for Quality Products;<\/li><li>The entry of Foreign Retailers;<\/li><li>Advancement of Technology;<\/li><li>Rise in the Standard of Living;<\/li><li>The emergence of Consumerism;<\/li><li>Value for Money;<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Benefits_of_Starting_a_Retail_Shop_in_India\"><\/span>Benefits of Starting a Retail Shop in India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2020\/12\/Benefits-of-Starting-a-Retail-Shop-in-India-1024x325.png\" alt=\"Retail Shop benefits\" class=\"wp-image-391\" width=\"746\" height=\"237\" srcset=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2020\/12\/Benefits-of-Starting-a-Retail-Shop-in-India-1024x325.png 1024w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2020\/12\/Benefits-of-Starting-a-Retail-Shop-in-India-300x95.png 300w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2020\/12\/Benefits-of-Starting-a-Retail-Shop-in-India-768x244.png 768w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2020\/12\/Benefits-of-Starting-a-Retail-Shop-in-India.png 1184w\" sizes=\"(max-width: 746px) 100vw, 746px\" \/><\/figure><\/div>\n\n\n\n<p>The benefits to\nstart a Retail Shop in India are as follows:<\/p>\n\n\n\n<ol><li>Provides\nEasy Access to Market;<\/li><li>Requires\nMinimal Costs;<\/li><li>Possess\nEarly Growth Potential;<\/li><li>Widens\nMarket Reach;<\/li><li>Promotes\nConsumer Intelligence; <\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Different_Ideas_to_Start_a_Retail_Shop_in_India\"><\/span>Different Ideas to\nStart a Retail Shop in India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The different ideas to start a Retail Shop in India are as follows:<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2020\/12\/Different-Ideas-to-Start-a-Retail-Shop-in-India.png\" alt=\"Retail Shop different ideas\" class=\"wp-image-393\" width=\"547\" height=\"474\" srcset=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2020\/12\/Different-Ideas-to-Start-a-Retail-Shop-in-India.png 684w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2020\/12\/Different-Ideas-to-Start-a-Retail-Shop-in-India-300x261.png 300w\" sizes=\"(max-width: 547px) 100vw, 547px\" \/><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Grocery_Stores\"><\/span>Grocery Stores<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In India, one of the most popular types of retail business is Grocery Store. This type of business comprises of selling of a variety of food and non-food items, such as follows:<\/p>\n\n\n\n<ol><li>Cereal;<\/li><li>Meat;<\/li><li>Dairy Products;<\/li><li>Health;<\/li><li>Cleaning Products, etc.;<\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"General_Merchandise_Stores\"><\/span>General Merchandise\nStores<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The\nterm \u201cGeneral Merchandise Stores\u201d denotes the large-format grocery stores that\nare involved in selling a variety of items, such as follows:<\/p>\n\n\n\n<ol><li>Clothing;<\/li><li>Furniture;<\/li><li>Sporting Goods;<\/li><li>Kitchenware, etc., <\/li><\/ol>\n\n\n\n<p>Example: Big Bazaar, TATA, Croma<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Speciality_Stores\"><\/span>Speciality\nStores<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>As the name suggests, the term \u201cSpecialty Stores\u201d means a store that is\nspecialized in a particular product or item. That means it will not sell\nanything other than the range of products of a particular brand. <\/p>\n\n\n\n<p>Example: Reebok Merchandise at Reebok Store<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Departmental_Stores\"><\/span>Departmental Stores<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The\nterm \u201cDepartmental Stores\u201d denotes a setup that provides a variety of products\nto the consumers under one roof. That means it acts as the one stop destination\nfor meeting all the shopping needs. The term variety of products includes the\nfollowing:<\/p>\n\n\n\n<ol><li>Electronic Appliances;<\/li><li>Apparels;<\/li><li>Jewellery;<\/li><li>Toiletries;<\/li><li>Cosmetics;<\/li><li>Footwear;<\/li><li>Sportswear;<\/li><li>Toys;<\/li><li>Books;<\/li><li>CDs, DVDs;<\/li><\/ol>\n\n\n\n<p>Example:\nShoppers Stop and Pantaloons<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Discount_Stores\"><\/span>Discount\nStores<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The term Discount Stores also refer to the stores that offer\na large range of products and items to the consumers but at a discounted rate. However,\nthere are chances that the quality offered for the products in discount stores\nmight be a little inferior or low-grade as compared to the department stores.<\/p>\n\n\n\n<p>Example:\nVishal Mega Mart<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Mom_and_Pop_Store_Local_Kirana_Stores\"><\/span>Mom and Pop Store\n(Local Kirana Stores)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The term \u201cMom and Pop Stores\u201d denotes the small stores run by the local vendors in nearby locality and neighbourhood to cater to all the daily needs of the consumers residing in the vicinity. However, it shall be considerate to note that theses retail stores do not offer any high-end or luxurious products.&nbsp; <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Top_Retail_Stores_in_India\"><\/span>Top\nRetail Stores in India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The top retail\nstores in India are as follows:<\/p>\n\n\n\n<ol><li>Infiniti\nRetail Ltd;<\/li><li>V-mart\nRetail Ltd;<\/li><li>Trent\nLimited;<\/li><li>Shoppers\nStop;<\/li><li>Aditya\nBirla Fashion and Retail Limited;<\/li><li>Avenue\nSupermarts Limited;<\/li><li>Future\nRetail Limited;<\/li><li>Reliance\nRetail Limited;<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Licenses_Required_to_Start_a_Retail_Shop_in_India\"><\/span>Licenses Required to\nStart a Retail Shop in India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The licenses required to start a Retail Shop in India are as follows:<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2020\/12\/Licenses-Required-to-Start-a-Retail-Shop-in-India-heading.png\" alt=\"Retail Shop Licenses Required\" class=\"wp-image-392\" width=\"567\" height=\"273\" srcset=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2020\/12\/Licenses-Required-to-Start-a-Retail-Shop-in-India-heading.png 1000w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2020\/12\/Licenses-Required-to-Start-a-Retail-Shop-in-India-heading-300x145.png 300w\" sizes=\"(max-width: 567px) 100vw, 567px\" \/><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Business_Registration\"><\/span>Business Registration<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>If an individual wants to start a Retail Shop in India, he\/she must go for obtaining <strong><a class=\"text-primary\" href=\"https:\/\/swaritadvisors.com\/private-limited-company-registration\">Private Limited Company Registration<\/a><\/strong>. The reason behind the same is that a retail business involves huge annual business turnovers than service-based businesses.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Documents_required_for_obtaining_Private_Limited_Company_Registration\"><\/span>Documents required for\nobtaining Private Limited Company Registration<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>The basic\ndocuments required to acquire Private Limited Company Registration are as\nfollows:<\/p>\n\n\n\n<ol><li>Identity\nProof;<\/li><li>Address\nProof;<\/li><li>Registered\nOffice Address Proof;<\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"GST_Registration\"><\/span>GST\nRegistration<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Out of all the licenses required to start a retail shop in India, another significant one is the <strong><a href=\"https:\/\/swaritadvisors.com\/gst-registration\" class=\"text-primary\">GST Registration<\/a><\/strong>. The proposed owner requires to apply for registration under GST if the aggregate business turnover exceeds the threshold of Rs 40 lakhs and Rs 20 lakhs in the special states.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Documents_required_for_obtaining_GST_Registration\"><\/span>Documents required for\nobtaining GST Registration<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>The documents\nrequired for obtaining GST Registration are as follows:<\/p>\n\n\n\n<ol><li>Proof\nof Business Registration;<\/li><li>Address\nProof of the Registered Office;<\/li><li>Identity\nProof of the Shop Owner;<\/li><li>Address\nProof of the Shop Owner;<\/li><li>Details\nof the Business Current Bank Account;<\/li><li>PAN\nCard details;<\/li><li>Lease\nAgreement or Rental Agreement;<\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Shop_and_Establishment_License\"><\/span>Shop and Establishment\nLicense<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The main reason behind the need for <strong><a href=\"https:\/\/swaritadvisors.com\/shop-establishment-license\" class=\"text-primary\">Shop License<\/a><\/strong> or the Shop and Establishment License is to defend and protect the rights and interests of the workers employed.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Documents_required_for_obtaining_Shop_License\"><\/span>Documents required for\nobtaining Shop License<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>The documents\nrequired for obtaining Shop and Establishment are as follows:<\/p>\n\n\n\n<ol><li>PAN\nCard details;<\/li><li>Identity\nProof of the owner;<\/li><li>Address\nproof of the Owner;<\/li><li>Details\nof the Employees employed;<\/li><li>Postcard\nPhoto of the Retail Shop;<\/li><li>Address\nProof of the Premise used as Retail Shop;<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Factors_to_Consider_While_Drafting_Retail_Shop_Business_Plan\"><\/span>Factors to Consider While Drafting Retail Shop Business Plan<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2020\/12\/Factors-to-Consider-While-Drafting-Retail-Shop-Business-Plan-heading.png\" alt=\"Factors to Consider While Drafting Retail Shop\" class=\"wp-image-394\" width=\"533\" height=\"533\" srcset=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2020\/12\/Factors-to-Consider-While-Drafting-Retail-Shop-Business-Plan-heading.png 1000w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2020\/12\/Factors-to-Consider-While-Drafting-Retail-Shop-Business-Plan-heading-150x150.png 150w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2020\/12\/Factors-to-Consider-While-Drafting-Retail-Shop-Business-Plan-heading-300x300.png 300w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2020\/12\/Factors-to-Consider-While-Drafting-Retail-Shop-Business-Plan-heading-768x768.png 768w\" sizes=\"(max-width: 533px) 100vw, 533px\" \/><\/figure><\/div>\n\n\n\n<p>If an individual wants to start a Retail Shop in India, the factors he\/she need to consider while drafting the Retail Shop Business Plan are as follows:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Analysis_of_Suitable_Location\"><\/span>Analysis of Suitable Location\n<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The proposed owner of the retail shop needs to choose a location that suits its customer requirement. <\/p>\n\n\n\n<p>For Example: if the owner wants to sell edibles, stationery items, and basic ration, then, in that case, he\/she requires to select a location that is near to schools, colleges, localities, residential societies, street markets, etc.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Contact_Vendors\"><\/span>Contact Vendors<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Another\nsignificant factor is to contact vendors and suppliers of products and items. Further,\nit is always suggested to go for the ones who offer quality products at a reasonable\nand affordable price. Also, it is advised to make an association with local and\nsmall vendors to have a relation with them as well.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Determine_In-house_Store_Policies\"><\/span>Determine In-house\nStore Policies<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Formulating\nthe right in-house store policies acts as the base or foundation store for a\nsuccessful retail business. Further, this factor will help the owner in\nmanaging the day to day affairs of the staff hired, daily operations, together\nwith warehousing and staffing.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Formulate_Marketing_Strategy\"><\/span>Formulate Marketing\nStrategy<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The term \u201cMarketing Strategy\u201d denotes the way from which a business can reach to its proposed audience in an easy and hassle-free manner. Therefore, figuring out the appropriate channels for publicity and advertisement plays a significant part in spreading awareness pertaining to the brand and products.<\/p>\n\n\n\n<p>Further,\nthe best way to market a business is to create social media accounts on\ndifferent platforms available, such as Twitter, Facebook, Pinterest, LinkedIn,\nInstagram, etc., together with creating the company\u2019s own website.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Hire_the_Right_Team\"><\/span>Hire the Right Team<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>As it is a proven fact that no one can run an entire business on his\/ her own, therefore, hiring the right team of professionals or employees plays a crucial part. Further, it is advised to every proposed retail shop owner to properly train his\/her employees after hiring them so that they are able to handle all the future customer related issues.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Compliance_of_Legal_and_Financial_Formalities\"><\/span>Compliance of Legal and\nFinancial Formalities<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Every business, whether a retail shop or not, becomes\nfull-fledged in nature only after completing all the required financial and\nlegal compliance. Therefore, a business plan must handle both the financial and\nlegal aspects of the said business. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In a nutshell, if an individual wants to start a retail shop in India, then, in that case, he\/she requires to firstly narrow down his\/her target audience. After that, the proposed owner needs to decide on the factors, such as, types of goods that he\/she wants to sell, perfect location, required cost, growth aspect, hiring of staff, marketing strategy, and last but not the least, the legal and financial requirements.<\/p>\n\n\n\n<p>After ticking\noff all the requirements and factors to consider, just plan a grand opening,\nand start your retail business operation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The term \u201cRetail Business\u201d denotes the purchase of finished goods from the producers or manufacturers and selling them further to customers. Further, India ranks at the top position in the world in terms of retail and wholesale trade and contributes around 23% and 8% to India\u2019s total GDP (Gross Domestic Product) and employment, respectively. However, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":397,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[101],"acf":[],"_links":{"self":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/388"}],"collection":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/comments?post=388"}],"version-history":[{"count":9,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/388\/revisions"}],"predecessor-version":[{"id":928,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/388\/revisions\/928"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/media\/397"}],"wp:attachment":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/media?parent=388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/categories?post=388"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/tags?post=388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}