The Hindu Business Line : A primer for setting up retail business in Kerala

But that has not prevented die-hard optimists from having a go at pies in the sky, only to land with a thud on terra firma fashioned by ground realities.

This is what seems to have prompted the Thiruvananthapuram-based Institute for Enterprise Culture and Entrepreneurship Development (IECED) to think differently and conjure up a guide on how best to do the choicest best - the business of running a retail shop.

Mr Sebastian Mathew, Chairman, IECED, says the book is intended as a primer on getting started with what he describes as the easiest option for the uninitiated.

Observing some basic caution could help avoid pitfalls galore, he says in the book, titled Engane Oru Kada Thudangam? Vijayipikkam? (How to launch and make a success of a retail shop?).

According to Mr Mathew, there are over 10 lakh traders in the State and thousands launch themselves into the business every year. But a majority of them fail, with adverse implications for their finances.

For starters, the book discusses the various aspects to be taken into account while exploring the scope for setting up a retail shop in a neighbourhood. The book goes on to develop a `break even' model for the business, much in the lines of what a regular industry needs to have in place.

By substituting the values specific to one's own circumstances, the model enables the small entrepreneur to put a target for sales turnover and plan things accordingly.

This chapter also discusses the procedures to be followed and formalities completed for securing a bank loan for retail trade.

The second chapter discusses aspects relating to selection of premises, furnishing, stocking goods and maintenance of accounts. It also mentions several practical tips to avoid pitfalls that a new retailer is likely to fall into.

The next chapter goes on to discuss aspects relating to customer service, selection and training of sales people as well as selling strategies.

The book also features over 30 illustrations that go to make things clearer in graphic detail.

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