This article is ideal for women who are looking forward to becoming an entrepreneur, an ideal thought for business for women. Read the article.
Introduction to store for women
The goal of this blog is to come up with a unique retail business plan for feminine hygiene products. We will evaluate how we can start a store for women a retail business that will deal with hygiene category online and offline. This is an incredibly unique idea and in India not yet tried, we will know the problem statement and understand it from sociopsychological point of view.
Keep reading the article on business for women, I am sure you will find this interesting. Moreover, if you want more information just drop me an email, I promise to get back in a week or two.
The value of feminine hygiene products in India was at INR 33 Bn in 2020 and is expected to expand at a compound annual growth rate of 17% till 2025 period, and will be valued at INR 70.20 Bn.
The market is ever-growing even with the most skewed sex ratio as the female population size contributes 48%. The other catalyst to this growth is growing female literacy and increasing hygiene consciousness.
Problem statement (Why do I think selling feminine hygiene products has a good prospect?)
In India, women’s hygiene needs are a completely different game in terms of reach and preferred method of delivery, which demands a different approach than the way it is today. For feminine hygiene products, fast delivery while maintaining adequate privacy is still lacking in the Indian market.
Concept of store for women (business plan for feminine hygiene products)
I am proposing a simple solution to this problem in our society through a rational and sustainable business model. The objective is to cater to the women with hygiene solutions in a way that will enable them to maintain personal hygiene the way they want.
A retail business that will sell female hygiene product category only. The business will have multiple small facility centers spread across the city, so that the stores can sell to nearby households. The business will also sell online, every store will deliver up to five kilometers periphery within an hour time or less. The facility centers should be small and cost-effective, primarily the business should target to put up stores in the residential areas.
The purpose is to establish a “neighborhood store” kind of store so that company can leverage branding and awareness. So, the idea is to create a multi-brand female hygiene product store that will operate in off and online mode.
Example for store for women
Suppose you are a working woman, just before getting ready for office you notice that the stock of sanitary napkins is not enough and you might need more during the day at the office. In such a situation, you want the product to reach you somehow without delaying your office.
Or you are a housewife, and suddenly feel that the stock of sanitary napkins is not high, and you may need more during the day, you need it immediately and you do not want to go to a store where the shopkeeper is a man, or the store is far from your home. Now, you know that ABC company has a store very nearer to you and the store is run by females, also, they deliver at home within an hour.
Check home based business ideas here.
Check online business ideas here.
Check small business ideas here.
Demand Factors for store for women (feminine hygiene products)
In the introduction itself, I have explained how the Feminine Hygiene market is growing, and in addition, you are bringing a tangible solution to women’s emotional needs in terms of purchasing behavior which lacks in the Indian market. So, if the business can communicate this unique selling proposition successfully to the segment it will respond very positively and will create an immense growth opportunity.
Revenue Model (feminine hygiene products)
Each store for women will have both Offline and Online modes of business and get strategic tie-up with a shop-on-shop, franchisee model, and marketplace listing.
Investment required to start a store for women for feminine hygiene products
This business can be started with a small investment but to begin with needs to restrict operations within a small demography. With one facility center or a small store (100 SqFt) in a residential area as a neighborhood store will cost a minimum of Rs 10 Lakhs.
- Store: Keep budget of 3 Lakhs including advance, and interior
- Online app: Keep budget of 1 Lakh
- Stocks**: Keep budget of 3 lakhs
- Working capital: 2 Lakhs (Equal to 6 months’ Salary for two lady executives, store rent, electricity, etc.)
- Licensing and permits: Rs 50 thousand
- Billing machine and other gadgets %s 50 thousand
Scale-up
You can scale it up anytime, and it will remain ever-growing. But please create some entry barriers. Consult with any good business consultant for marketing and scale-up. You can write to me even.
Best of Luck!
