Sei sulla pagina 1di 48

Submitted by

KUNAL SOLANKI B.Com (Hons.) VI Sem.

Under the guidance of

Mrs. Himadri Srivastava

In partial fulfilment for the award of the degree

of

BACHELOR OF

COMMERCE (HONOURS)

the award of the degree of BACHELOR OF COMMERCE (HONOURS) Institute of professional education & research,

Institute of professional education & research, Bhopal

Affiliated to Barkatullah University, Bhopal

March 2019

ACKNOWELEDGEMENT

I would like to express my special thanks of gratitude to my teacher Ms. Himadri Srivastava as well as our HOD of commerce Dr. UPASHNA SHARMA who gave me the golden opportunity to do this wonderful project. Which also helped me in doing a lot of research I came to know about so many new things.

I am really thankful to them.

Secondly I would also like to thank my parents and friends who helped me a lot in finishing this within the limited time.

I am making this project not only for marks but to also increase my knowledge.

Thanks again to all who help me in this.

Thank you

Kunal Solanki

B.Com (Honours) VI Sem.

STUDENT DECLARATION

This is to certify that I have completed the Project titled "Sales & Marketing" under the guidance of “Mrs. Himadri Srivastava” in partial fulfilment of the requirement for the award of Bachelor of Commerce (Hons.) at Institute of Professional Education and Research, Bhopal. This is an original piece of work & I have not submitted it earlier elsewhere.

Date:

Signature:

Place:

Name: Kunal Solanki

Certificate of the Surveyed Institution

This is to certify that Mr. Kunal Solanki has visited our office/ Institution for his/her project work. During the project work his/her work and behavior was satisfactory.

Date: ………………

Place: ………………

Signature…………………

Name……………………

Designation………………

Office/Institution.…………. Seal: ……………………….

SADGURU KRIPA KIRANA & GENERAL STORE

Certificate of the Surveyed Institution

This is to certify that Mr. Kunal Solanki has visited our office/ Institution for his/her project work. During the project work his/her work and behavior was satisfactory.

Date: ………………

Place: ………………

Signatur:……………

Name:……………

Designation:……………

Office/Institution.:…… Seal: …………………….

Patel market H.No. 1 Misrod, Bhopal- 462026

PREFACE

A man without practical knowledge is just like a rough diamond. To shine like a real diamond

one must have practical exposure of what he has learned. For the management students, theoretical knowledge is just like a lock without a key, so practical knowledge is of utmost importance. It is quite true that the world outside: your home is many times quite different from what you have perceived. Similarly, it is possible that theoretical knowledge acquired in the classroom may differ from the practical knowledge As a Curriculum part of B.com

(Hons.) VI th

Sem. Course, I had completed my Project Report on

“RETAIL BUSINESS PLAN” In Sales & Marketing

As a curriculum of B.com (Hons.) VI th Sem. students The main objective of this project is to give hands-on experience of creating a detailed Business plan &what are the things include while making a Business Plan. It is my pleasure

to present this project work.

This Project has expanded my horizon of knowledge in practical as well as theoretical, which

is vital for B.com (Hons.) VI th level students. Only the basic understanding of the principles is

not sufficient but their application is also equally important.

CONTENT

ACKNOWLEDGEMENT

DECLARATION

CERTIFICATE BY ORGANIZATION

 

CERTIFICATE BY GUIDE

 

PREFACE

CHAPTER NO.

TITLE

PAGE NO

CHAPTER - I

INTRODUCTION

1-11

CHAPTER - II

COMPANY PROFILE

12-16

CHAPTER - III

NATURE OF JOB TRAINING

17-32

CHAPTER - IV

OUTCOME

33-37

CHAPTER - V

CONCLUSION

38

 

REFERENCES

39-40

CHAPTER – I INTRODUCTION

INTRODUCTION

The retail industry shows a constant positive demand especially for food and related products. Compared to other business activities this kind of business has low risks because of low required investments.

New forms of cost cutting and store optimization will help to set up a successful business. The return on this retail business has a growth rate of about 3% to5% per year. A company that provides additional service activities for the customers can be sure to have a high demand and a strong competitive advantage General Store is located in the Hoshangabad Road, located near Capital Mall, Bhopal, in the Famous area of the City.

This business plan is prepared to obtain Rs.1, 00,000 Sales turn over in the next financial year & also for the expansion of the store. We are seeking joint financing from our local Economic

Development Fund. India is the only country having the highest shop density in the world, with 11 outlets per 1000 people (12 million retail shops for about 209 million households). Rather we can see the democratic scenario in Indian Retail (because of a low level of centralization, low capital input and due to a good number of self-organized retail). Indian retail is dominated by a large number of small retailers consisting of the local shops, owner manned general stores, chemists, footwear shops, apparel shops, paan and beedi shops, hand- cart hawkers, pavement vendors, etc. which together make up the so- Called “unorganized retail” or traditional retail.

A strong focus of this business will be placed on the development of new and innovative strategies for the customers that deliver significant value. One central goal of the proposed business strategy is the development of its own identity. Such identity will create customer loyalty and help gain a competitive advantage Therefore, Store is planned to provide new &interesting services to the customer.

The General Store concept, as shown in our plan, has an excellent profitability level and growth rate. Our competitive edge, along with new retail techniques and technology, puts our store at the forefront of the retailing of perishable and non-perishable consumer goods. We are living in an age where unique grocery store environments are in great demand. The store will differ from the traditional grocery store because of its added personal touch.

India has an internet user’s base of about 475 million as of July 2018, about 40% of the population. Despite being the second-largest user base in world, only behind China (650 million, 48% of population), the penetration of e-commerce is low compared to markets like the United States (266 million, 84%), or France (54 M, 81%), but is growing at an unprecedented rate, adding around 6 million new entrants every month.

The industry consensus is that growth is at an inflection point. Only three percent of Indian retail is organized. Retailers of multiple brands can operate through a franchise or a cash-and- carry wholesale model.

Retail is India’s largest industry, accounting for over 10 percent of the country’s GDP and around eight percent of employment. Retail in India is at The crossroads. It has emerged as one of the most dynamic and fast paced industries with several players entering the market. That said, the heavy initial investments required making the break-even hard to achieve and many players have not tasted success to date. However, the future is promising; the market is growing, government policies are becoming more favourable and emerging technologies are facilitating operations.

Retailing in India is gradually inching its way to becoming the next boom industry. The whole concept of shopping has altered in terms of format and consumer buying behaviour, ushering in a revolution in shopping.

Modern retail has entered India as seen in sprawling shopping centres, multi-storeyed malls and huge complexes offer shopping, entertainment, and food all under one roof. The Indian retailing sector is at an inflection point where The growth of organized retail and growth in the consumption by Indians is going to adopt a higher growth trajectory.

The Indian population is witnessing a significant change in its demographics. A large young working population with a median age of 24 years, nuclear families in urban areas, along with increasing working-women population and emerging opportunities in the services sector are going to be the key growth drivers of the organized retail sector.

Initially, this was about Indian corporate houses rolling out malls and supermarkets, but with Wal-Mart coming into the Indian market, the era of the superstore is dawning. Unlike the Kirana stores that served us for decades, this new breed of retail chains is heavily dependent on IT.

Industry analysis of the Indian retail sector

Modern retailing has entered India in form of sprawling malls and huge complexes offering shopping, entertainment, leisure to the consumer as the retailers experiment with a variety of formats, from discount stores to supermarkets to hypermarkets to specialty chains. However, Kirana still continue to score over modern formats primarily due to the convenience factor

The organized segment typically comprises of a large number of retailers, greater enforcement of taxation

The organized segment typically comprises of a large number of retailers, greater enforcement of taxation mechanisms and better labor law monitoring system. It's no longer about just stocking and selling but about efficient supply chain management, developing vendor relationship quality customer service, efficient merchandising and timely promotional campaigns.

The modern retail formats are encouraging the development of well-established and efficient supply chains in each segment ensuring efficient movement of goods from farms to kitchens.

India's retail market is expected to increase by 60 percent to reach US$ 1.1 trillion by 2020, on the back of factors like rising incomes and lifestyle changes by the middle class and increased digital connectivity. Online retail sales are forecasted to grow at a rate of 31 percent year-on-year to reach US$ 32.70 billion in 2018.

India is expected to become the world's fastest growing e-commerce market, driven by robust investment in the sector and the rapid increase in the number of internet users. Various agencies have high expectations about the growth of Indian e-commerce markets. Luxury market of India is expected to grow to US$ 30 billion by the end of 2018 from US$ 23.8 billion 2017 supported by growing exposure of international brands amongst Indian

youth and higher purchasing power of the upper class in tier 2 and 3 cities, according to Assocham.

Government Initiatives

The Government of India has taken various initiatives to improve the retail industry in India. Some of them are listed below:

The Government of India may change the Foreign Direct Investment (FDI) rules in food processing, in a bid to permit e-commerce companies and foreign retailers to sell Made in India consumer products.

Government of India has allowed 100 percent Foreign Direct Investment (FDI) in the online retail of goods and services through the automatic route, thereby providing clarity on the existing businesses of e-commerce companies operating in India.

The Asia Pacific Expected to Witness the Fastest Growth Rate in Retail Industry

As rural and urban households witnessed a steady growth of disposable incomes, the spending power of the Chinese population has also increased dramatically and the retail market has matured into one of the largest and still growing consumer markets worldwide. It is highly competitive and diversified, and the market shares of the leading Chinese retail chains were receding over the past few years. In India, government policies, like FDI up to 100% allowed in single-brand retail and FDI up to 51% in multi-brand retail is further expected to fuel up the competition in the country’s retail market.

Moreover, the retail market in Japan boasts of 52,417 convenience stores and 240 department stores. It is driven by M&A’s and increased cross-border investment and international cooperation, which are presenting opportunities for

The country to develop local markets and gain benefits from production networks in Asia

Reasons to Purchase Retail Industry Report:

Current and future adoption outlook of Retail industry in the developed and emerging markets

Analysing various perspectives of the market with the help of Porter's five forces analysis

The type of store that is expected to dominate the market

Regions that are expected to witness the fastest growth during the forecast period

Identify the latest developments, market shares, and strategies employed by the major market players

2-month analyst support, along with the Market Estimate sheet.

Analysis of Customers

Customer Preference for Retail stores Ms. shubhkamna bhardela customer of sadguru Kripa Kirana & general store' she is Retailing consists of the sale of goods or merchandise from a very fixed location, such as a Department store, boutique or individual lots for direct consumption by the purchaser. Retailing may include subordinated services, such as delivery. Purchasers may individuals or businesses. In commerce, a “retailer" buys goods or products in large quantities from manufacturers or Importers, either directly or through a wholesaler, and then sells smaller quantities to the end- user. Retail establishments are often called shops or stores. Retail stores have a huge influence on the general public. It tells the consumers that only purchasing products makes you happy and therefore people compare each other on their belongings.

Key Terms- The main objective of the research paper is to help faculty members, staffs and doctoral students to Retailers are at the end of the supply chain. Manufacturing marketers see the

Retailing as part of their overall distribution strategy. The term "retailer" is also applied where a service provider Services the needs of a large number of individuals, such as a public utility, like power Shops may be on residential streets, shopping streets with few or no houses or in a shopping mall. Shopping streets may be for pedestrians only.

Sometimes a shopping street has a partial or full roof to protect customers from precipitation. Online retailing, a type of electronic commerce used for business-to-consumer transactions and mail order, are Individual items in small quantities to consumers who are general public or end-user customers. Retailers are at the end of the supply chain. Marketers see retailing as part of their overall distribution strategy

PROBLEM FOCUS

As the retail business scenario has changed since liberalization [1991], it is necessary to examine, to what extent consumers have adapted to this change and what factors influence their choice of organized retail outlets.

Further what items are preferred by these customers in these outlets also need to be identified, so as to enable the organized retail outlets to design their strategy

It speaks volumes about your business if you respond to online reviews. It shows people that you are paying attention and provide good customer service. This can encourage other people to leave a review because they know it will be read. Take the time to thank people for positive reviews. If someone leaves a negative review and you politely address the issue and rectify the situation for the consumer, it makes others feel more comfortable in doing business with you.

Classification of Retail Sector

Classification of Retail Sector

ANALYSIS OF RETAIL INDUSTRY

ANALYSIS OF RETAIL INDUSTRY

CHAPTER – II COMPANY PROFILE

COMPANY PROFILE

"Sadguru Kripa Kirana & General store''

.

Is a neighbourhood capital mall, which is located near shiv mandir Misrod this area is

Is a neighbourhood capital mall, which is located near shiv mandir Misrod this area is known as Misrod. Which is convenient for all people.

Obtain necessary funding.

Become an established community destination with a customer satisfaction

rate of 90% by the end of the next financial year.

Achieving Sales Turnover of Rs. 1, 00,000 per month next year.

Hiring 5 five new employees for the Store.

Repay debt from original financing by the end of the next three years.

utilizing the Marketing budget of Rs.50, 000 for the promotion of the Store.

Mission

The most fundamental philosophy of The Sadguru Kripa Kirana & General Store is the concern for people. The Store's primary objective is to create a new and revolutionary distribution outlet that will significantly reduce prices for its customers and provide greater services with an equal level of quality.

The Store seeks to be first to market with this daring new idea so as to capture market share and create greater than average profits. Stores philosophy of concern for people gives our General Store the drive to be a good corporate citizen.

Store believe that they have a responsibility to be a good neighbor in maintaining their property in first-class condition and by making the appearance of their plant, facilities, equipment, and grounds as attractive as possible, making them an asset to the communities that support their store.

Company Summary:

General Store is a premier regional grocery retailer based in Bhopal City. It is doing business for more than 2 years and Sadguru Kripa Kirana & General Store do sales more than 130 private label and national brand products to more than 90 independently owned products.

Company History:

In 2016 Mr. Pankaj Solanki was build-up or forming a small store named Sadguru Kripa Kirana & General Store. It is a neighborhood store and in 2018 he was expanded his business & make a big store. The store has is a convenient place. The store has more than 80 national and domestic brands.

The sales revenue at the store is 1, 00,000 from last two years after getting this much of sales revenue now the owner is thinking to take the franchise of multinational brands. Owner is thinking to take franchise of, Johnson& Johnson, etc.

Company Ownership:

The Sadguru Kripa Kirana & General Store is a Sole Proprietorship. Currently, it has been owned and operated by Mr. Pankaj Solanki and His Father.

Location:

The store was located at the ideal storage location for the operation. The store is located at Near Shiv Mandir Patel Market Shop no.1 Misrod, Bhopal. The store is only selling grocery products. The Store is fulfilled all the customer need and at Prime Location at Misrod, Bhopal.

the customer need and at Prime Location at Misrod, Bhopal . Hours of Operation : Store

Hours of Operation:

Store hours will be 7 days a week from 08:00 A.M. until 09:00 P.M. Online payment options accepted like paytm, Phonepe, Google pay, etc.

A food stamp policy along with other policies will be in place.

Start-up Summary:

Start-up costs will be financed through a combination of owner investment, short-term loans, and long-term borrowing. The start-up chart shows the distribution of financing. About Store Products.

The Sadguru Kripa Kirana & general store sell the products as other convenience stores in the same packaging sizes, quality, and quantity as other stores. This includes Spices, Soft drinks, Snacks, Tea, Coffee, Hair oil, Ghee, Pulses, Oil, Cheese, Paneer, Ketchup, Ready to cook Products. & Sugar, Pulses, Spices, Butter, Oil, Cheese, Paneer, Ketchup, Ready to cook products, Moong flour (green), Moong flour (white), Cornflour, Cream of rice/ Ravaidly flour, Laddu besan, Chapatti flour, Shoji fine, Rajagra flour, Singodaflour, Maida flour, Bajra flour, Wheat flour, Jowar flour, Handwa flour, Mathia flour, Dhokla flour, Kodri flour, Amchur powder, Black pepper powder, Black salt powder, Cardamom powder, Chilly crushed, Chilly powder Gondal, Chilli powder Kashmiri, Chilly powder reshampatti, Chilly white powder, Cinnamon powder, Cloves powder, Coriander powder, Coriander-cumin powder.

CHAPTER – III NATURE OF JOB

CHAPTER – III NATURE OF JOB

NATURE OF JOB

Sales Associates are most commonly found working for retailers who sell clothing, jewellery, office supplies, and sporting goods. Alternative titles for this role are Retail Sales Associate, Sales Floor Associate, and Retail Salesperson.

As a Sales Associates I have learnt to greet customers on arrival then assist the customer with any questions they have about the purchase they want to make. I often help the customer with returns, refunds, and resolve common complaints.

As the public face of the company the Sales Associate is responsible for dealing with any and all customer questions about the products and services the company offers. A Sales Associate is expected to be continuously updating their knowledge of the company products, services,

and policies.

 

Sales Associate Duties and Responsibilities At retail:

 

Sales Associate Responsibilities:

 

Greeting customers, responding to questions, improving engagement with merchandise and providing outstanding customer service.

Operating cash registers, managing financial transactions, and balancing drawers.

Achieving established goals.

Directing customers to merchandise within the store.

Increasing in store sales.

Superior product knowledge.

Maintaining an orderly appearance throughout the sales floor.

Introducing promotions and opportunities to customers.

Cross-selling products to increase purchase amounts.

To the duration of my work as a post of sales associate that meets the company's needs, I think about the duties of a sales associate and add the sales associate skills and duties I’d like to have. I have improve my skills and develop them to work there as a sales associate.

RETAIL STORE OPERATIONS

In larger retail businesses, some of the functions may fall outside of what they call their operations department. For example, they may have departments for finance and/or accounting, marketing, human resources, and IT. Sometimes those departments exist at the corporate level but less so at individual stores, where more jobs may fall under operations. At smaller stores, nearly every position may fall under operations. It all depends on the definitions of the individual business. For the purposes of this article, we’ll take the widest view of retail operations as a field.

Retail can fall under goods or services. Some stores are both. A retail clothing store is mostly goods. A dry-cleaner offers a service. A tire store sells both a product (tires) and service (installation).

Traditionally, the term store meant a brick-and-mortar store, but increasingly people blur the distinction, even referring to online stores. The term retail clearly applies to both physical stores and

online operations. Each year, more and more sales are made online as consumer habits continue to change, and as the nature of competition changes.

The next six sections provide a more detailed overview of responsibilities that may fall under the field of retail store operations:

Design

Customer Service

Cash, Fraud, and Internal Controls

Product Inventory

Administration

Store Management

STORE DESIGN RESPONSIBILITIES

Design and aesthetics are a major part of the shopping experience. Design is both art and science, often using data to help make choices, such as product display and placement. Here are aspects of design that fall under retail operations .

Store location: As the adage goes, location, location, location. Visibility and customer traffic patterns play a key role in a store’s success. People will travel off the beaten path for something special, but it’s generally harder to build that business.

Store design and layout: The store’s exterior and interior design sets the tone for the shopping experience. Design can signal a clean, well-organized but relatively spartan discount store (think Target), a well-stocked, industrial looking warehouse (Home Depot or Lowe’s) or an upscale, well-appointed department store (Nordstrom’s) or clothing boutique (Anthropologie). Another consideration is the display layout. Racks, shelves, or displays can be arranged straight, at angles, or in a geometric pattern to create visual interest in

addition to organization. Similarly, traffic patterns for customers can be gridded, almost like streets, looping or curving, or more free flowing. Changes in these patterns can affect what customers see and what they purchase.

Creating departments within a store: This is important for item findability in a store, as well as for delivering tailored customer service. By creating speciality areas, such as jewellery, shoes, sporting goods, and housewares, retail professionals create “stores within stores” and have specialty employees who are better able to serve customers.

Visual merchandising and display: Create attractive displays of products to set a tone and an expectation. Sometimes, you aren’t just selling a product - you’re selling an experience. A pleasing display of merchandise sends a message to the would-be buyer, and so does a sloppy, unkempt table. Even the height at which items are placed can make a big difference. Some professionals use a retail planogram, a type of diagram, to detail the placement of items in a store.

Store atmosphere: Lighting, music, and consistent overall store maintenance create a pleasant atmosphere that makes customers want to shop there. Unpleasant factors like clutter, odors, inadequate air conditioning, or unserviced restrooms can turn off customers. At the best stores, employees strive to create a pleasant atmosphere that helps to define the brand.

Signage: Posting signs, both outside and inside, help to direct customers and make them aware of products, services, and offers. Without good signage, a store can be difficult to navigate, and customers might not see what store managers want them to see.

Store space management: Avoid clutter and disorganization by managing space well in the store. Make items easily accessible and use out-of-the-way space for storage.

CUSTOMER SERVICE FUNCTIONS

Much of a store’s success depends on customer service - how it treats its customers. Customers may not always be right, but they’re always the customer, representing a potential sale and potential review. With excellent customer service, stores can increase their competitiveness, and even make up for shortfalls in other areas, such as convenience or pricing. Positive, personalized customer service can help the little guys compete against the big guys, and it can help brick-and-mortar stores compete against online operations. However, online operations have been increasingly good at providing remote customer service, with services such as convenient returns. The best-run stores comprehensively train their employees on how to treat customers and provide superior service to keep them coming back.

CASH, FRAUD, AND INTERNAL CONTROL FUNCTIONS

Stores need to carefully define, implement, and monitor these areas of their operations, as they directly impact the bottom line.

Handling cash and credit: Good cash and credit handling requires both good people and a good system to track everything, quickly discover discrepancies, and keep the store’s finances and inventory on accurate, solid footing. Today’s technology often comes in the form of a point of sale (POS) system that can handle not only daily sales, but also customer management and inventory. This can make it much easier to track and reconcile each day’s sales with the cash and credit showing in the system. Still, some stores may compare POS statistics with manual counting or cross-checking. They also might do surprise counts of cash or inventory during the day, especially if problems have been occurring. It all depends on the size and complexity of the retail operation. In any case, it’s critical that a store maintain accurate figures with cash, credit, and inventory.

Shoplifting and fraud prevention: Stores devote significant resources (both people and technology) to deter shoplifting and fraud. Some keep it behind the scenes so as not to interrupt the customer experience. Others may be more upfront, as in the case of having a guard at a jewellery store entrance. Security cameras, monitoring, and product scanners are also common. Losses from shoplifting and fraud can be significant, including by organized rings and scams, so stores need to be vigilant and find problems quickly if they do occur.

Internal controls: Stores develop and maintain internal controls, or standard operating procedures, to prevent problems with cash handling, credit, shoplifting, and fraud. These controls help to prevent money or inventory theft. They include cross-checks such as deposit slips for cash and a well-defined set of authorized functions, so that only a certain level of employees have access to certain items or parts of the store. It’s also vital to have different levels of employees sign off on others’ work, so no one employee can operate in secret. Without these controls, a store could be at the mercy of theft or fraud by employees, customers, or suppliers.

Safety and security: Stores try to ensure that their employees and customers are safe. They may use security guards and security camera monitoring. Police calls to stores can be common, depending on the store’s practices. With liability issues, some stores are quicker nowadays to turn matters over to the police.

PRODUCT INVENTORY RESPONSIBILITIES

For a store to succeed, it needs to have the products to satisfy its customers. This is the fourth area of retail operations stores do their best to balance supply and demand for products in a constant cycle of selling and restocking. If a product doesn’t move well, it is replaced with something that does. If a product does sell well, the store increases its inventory. It may sound simple, but the quirks of supply and demand can make inventory management difficult. Problems in the supply chain can make it hard to get hold of desired products. A sudden shift in demand, such as a new product making an older one less attractive, can catch a store by surprise. These functions fall under inventory management:

Ordering merchandise: Buyers place orders for products, trying to anticipate the demands of customers. They’re trying to get the right products in the right quantities at the right time. To be efficient and cost-conscious, they don’t want to order too much. In an automated system, the inventory needs are forecasted, so stock replenishment is automated. Another factor to consider is the merchandise mix. Stores want to ensure that the customer has

a variety of products, sizes, colors, and other features to choose from, at appropriate price points.

Receiving stock: Stores receive shipments from suppliers and distributors. They

carefully track and record it all, and make sure it’s handled properly and is in good condition.

Using an inventory system: The three main types are perpetual inventory, physical

inventory, and combined. With perpetual inventory, the counts are updated upon each sale. This is what happens with today’s computerized POS systems. With physical inventory accounting, the business physically counts its inventory. With a combined system, both methods are used, where the physical count provides a cross-check of the computerized system.

Pricing: Stores set the prices and mark the products either physically on the product or in

the computer via the product’s barcode, or both ways. Price reductions are based on supply and demand, season, promotions, and other factors.

Merchandise handling: This includes stocking shelves and displays, moving items for customers, and shipping items to customers. Managing the supply chain: Operations people manage relationships with suppliers, distributors and other vendors, and keep products coming to the store for retail sale to customers. Problems can arise in the supply chain, which can result in bottlenecks, backorders, or quality issues, and store operations people handle the.

RETAILADMINISTRATION RESPONSIBILITIES These functions fall under administration, the fifth major area of operations.

Managing the premises: Maintain the store in good working order. Make sure

customers aren’t turned off by inadequate facilities or poor maintenance. Like a home, a store requires consistent care and attention. Customers may judge you based on a littered parking lot, insufficient air conditioning, or dirty restrooms.

Training of employees: Employee training is essential, especially given the frequent turnover in retail jobs. Employees must be trained in customer service and store procedures, such as cash handling and internal controls.

Managing of promotions and events: Stores rely on promotions and sales to drive additional business.

Data management and use of technology: This includes streamlining store

operations with POS systems, barcoding, and use of a customer relationship management (CRM) platform. With smart use of customer data, stores can guide

Targeted customers toward sales and offers, build their loyalty, and improve customer service to them - while increasing the store’s bottom line. Stores can also use data to root out bottlenecks and discrepancies, thereby increasing efficiency and timeliness.

OPERATIONS MANAGEMENT AT RETAILS MANAGEMENT

The final area of operations responsibility is store operations management. The store manager is responsible for keeping daily operations functioning smoothly and managing employees. It’s a challenging role in a challenging environment. The store manager reports to regional or corporate managers, or an owner, and may have to follow broad strategies or directives from them. But within the environment of the store, the store manager is the boss and is often responsible for all aspects of its performance, including its finances. Other areas of responsibility may include :

Hiring, firing, training, and managing of employees

Forecasting sales and budgeting

Oversight of inventory and loss prevention

Oversight of all internal controls, such as for cash handling

All aspects of customer service

Internal and external communication

Legal compliance

STANDARD OPERATING PROCEDURES AND CHECKLISTS FOR STORE OPERATIONS

To run smoothly and efficiently, stores should define their daily, weekly, and monthly processes in written standard operating procedures. These procedures can be paired with checklists to ensure they are being carried out properly, by the correct people at the correct time. Virtually every operations function detailed in this article should have a written procedure compiled into an operations manual to ensure uniformity and consistency

General Store Opening and Closing

Employees assigned to open should arrive early to prepare the store for its opening to the public.

The store should be opened to the public on time, indicated with signs or lights as appropriate.

Employees should begin preparing at a designated time for the store to close. This typically includes cleaning and other preparation for opening the next day.

The store alerts customers at a specified time, such as thirty minutes before and again ten minutes before, that the store will be closing. Staff may pull gates, change the lighting or perform other steps to alert customers.

All cash is counted, reconciled, checked by a manager, and locked. All keys go to the person in charge of that. The procedure should define in detail how important matters like this are carried out.

Opening and closing work is subject to inspection by someone responsible for that, as appropriate.

Cash Management

Front-end cash procedures ensure proper handling at the POS. This includes how and when to take cash to the back office, and how to reconcile cash and credit against sales.

Back-office cash procedures are usually a bigger-picture accounting function, making sure the store is on track and carrying out its internal controls to prevent loss and pilferage. They catch cashier mistakes or possible fraud.

Cash refunds to customers should be consistent with store policy. Sometimes a store may choose to only give a credit on a credit card, or store credit. This is all important to decide as part of cash handling and customer service.

Merchandise Handling

Product shipments should be received in a set procedure to ensure everything arrives in good condition and in the proper quantity.

Route products in an efficient manner to the proper location in the store, either to the shelves, storage, or holding area.

Enter products in the inventory system for tracking.

Return damaged goods according to standard operating procedures.

Customer Service

Help customers in a way that befits the brand (this can be spelled out in written procedures).

Accept and route customer complaints to the proper person for response and resolution.

Do home delivery of large items on a certain schedule.

Special orders may be possible to get items not regularly stocked.

DAILY STORE CHECKLISTS

Running a store efficiently and smoothly requires a disciplined approach. These checklists show the range of things customers might judge in a store and what staff can do to make sure daily operations run smoothly.

Store Cleaning Checklist

Clear the parking lot of debris and sweep the sidewalk each morning. Don’t leave empty boxes of trash outside as a customer’s first impression.

Clean your windows and glass doors of smudges. Make sure your window display looks good each morning.

When you turn on the lights, replace any burned-out ones promptly.

Clean, sweep, or vacuum your store floors at closing time.

Empty all trash receptacles as needed, plus at closing.

Throughout the day, straighten up the merchandise displays. Don’t leave unfolded clothes or disorganized shelves.

Promptly clean up any spills or breakage.

Keep all checkout areas spotless and uncluttered.

Don’t leave empty boxes in the aisles any longer than necessary when restocking.

Promptly attend to any unpleasant odors.

Periodically do a bigger cleaning, such as a spring cleaning.

Daily Store Opening Checklist

Arrive early to prepare the store for opening to the public.

Disable any alarm system and turn on lights.

Prepare the registers or POS system for the day. Check cash levels.

Walk the store and do any necessary straightening, cleaning, or decluttering.

Take note of any items not completed properly at the previous night’s closing.

Adjust the air conditioning or heat for customer comfort.

Sweep the sidewalk and shake out any mats. If you have a parking lot, toss out any debris from the previous night.

At opening, unlock the front door or gates and turn on any signs that alert the public that you’re open.

Daily Store Closing Checklist

Start closing procedures at a certain time, or when the person in charge says it’s OK. Don’t rush customers out long before the advertised closing time.

Announce to customers that you’re closing soon. You also might lock the doors to new customers at a particular time.

When the last customers leave, signal that you’re closed with appropriate signage.

Walk the store and do any necessary straightening, cleaning, or decluttering. The opening people depend on this being done properly.

Restock shelves at this time, or as needed, but don’t interrupt customers unnecessarily.

Make sure all shelves, racks, and displays are properly filled and arranged. Customers often don’t put things back correctly.

Empty all trash receptacles and discard boxes and packing materials left in storage areas.

Close out all registers or the POS system. Count the cash and reconcile it and credit payments with sales. Do all necessary cross-checks based on your internal controls.

Based on your procedures, you might take some cash to another spot, such as the back office, for later deposit.

procedures, you might take some cash to another spot, such as the back office, for later

CHAPTER – IV OUTCOME

OUTCOME

STRATEGY OF RETAILS BUSIENESS PLAN

Grocery stores serve a wide variety of food products, household goods, and medicinal products to local areas. Although most grocery stores rely on strikingly similar business models and product offerings, specialty retailers can differentiate their stores through target marketing and unique service offerings. A marketing plan for a grocery store can provide the guidance a startup entrepreneur needs to fill a lucrative niche in the local grocery industry. In Sadgruru Kripa Kirana & general store, We Begin with a marketing plan with a comprehensive overview of conditions in the local marketplace. Define our target market in terms of demographics, psychographics, behaviouristic and geographic considerations. Two examples of grocery store target markets could be "households earning over 5, 00,000 Rs. -10, 00,000 Rs. Year who prefer organic products.

MARKETING STRATEGIES

Place the main emphasis of your marketing plan on the strategies section, where we will lay

out your specific plans for advertising, sales promotions, public relations, pricing, and

customer service. Combine these marketing disciplines to leverage your store's strengths,

nullify or avoid its weaknesses, take advantage of opportunities and nullify or avoid threats.

If the SWOT analysis reveals that the Business has a very low-cost structure and there are no

other discount grocery chains in the area, consider a comprehensive strategy that includes

advertisements focusing on lower prices and in-store sales to attract value-seekers.

Reducing customer service levels can allow you to lower consumer prices even further, but a small business always has to be careful not to reduce customer service so much as to drive customers away. Rather than eliminating customer service indiscriminately, create innovative ways to provide excellent service with fewer employees and streamlined processes

MARKETING BUDGET

In the store I learned that if the marketing plans off with a budget regulating all expenses required by our marketing strategies. we may decide to start with a budget before developing our strategies to give our self-clear boundaries to work within, or we may decide to create a budget after developing our strategies; regardless, calculate the total cost of implementation and revise our marketing strategies as necessary to work within the financial means.

OPERATION PLAN

Along with the Action and Monitoring Plans the Operational Plan is the third Part of the completed Strategic Plan. It defines how we will operate in practice to implement our action and monitoring plans – what our capacity needs are how we will engage resources,

how we will deal with risks, and how we will ensure the sustainability of the project's achievements. An Operational Plan does not normally exist as one single standalone plan; rather the key components are integrated with the other parts of the overall Strategic Plan.

STAFFING PLAN

When it comes to finding and hiring talent for a retail store, chances are everyone soon realizes that competing with the big-box retailers is no easy task. To deal with the frustration of not being able to find to deal with the frustration of not being able to find enough candidates with existing tactics, consider the advice of customer service There are a few things to address in the retail job description, including

Daily duties and responsibilities

Personality traits

Physical requirements

Qualifications or experience level

FINANCIAL PLAN

1. Growth will be moderate; cash flows steadily.

2. Marketing costs will remain below 15% of sales.

3. The Business will invest residual profits into financial markets and not company

expansion (unless absolutely necessary).

4. Future cash investments will use NOV projections to achieve maximum return with

limited risk.

In Business We predict costs will go down in the next three years. We will

In Business We predict costs will go down in the next three years. We will be able to find what has worked well for us and concentrate on those beneficial methods. Normally in store the business with negative profits through the first two years. We will avoid that kind of

operating loss by knowing

our target markets.

CHAPTER – V CONCLUSION

Conclusion

Over the last few years, the store Sadguru Kripa Kirana & general store has become one of the fastest growing sectors in Bhopal City. The organized retail, however, is at a very nascent stage though attempts are being made to increase its proportion to15-25%by the year 2016 bringing in a huge opportunity for prospective players.

Competitors of similar Business has entered the city in form of other Grocery store and huge complexes offering shopping, entertainment, leisure to the consumer as the retailers experiment with a variety of formats, from discount stores to supermarkets to hypermarkets to specialty chains. However, kiranas still continue to score over modern formats primarily due to the convenience factor.

It is true that India is moving towards to become a developed country. Retail sector plays a very crucial role in it. With the help of the report, we know about the retail sector in India & how to make a business plan for a firm& what is the planning & Strategies required for

making their effective. It opens our horizon about business planning. This is a very good experience of my to making a report of ‘’SADGURU KRIPA KIRANA & GENERAL STORE’’.