7 Steps to Promote Your Ayurvedic Retail Business: Plus a Guide to Starting an Ayurvedic Retail Shop”
Ayurveda originated in India more than five thousand years ago and has long been used in Indian medicine to treat a wide variety of ailments. The word Ayurveda is usually derived from the Sanskrit word Ayur. Which means life and Veda means knowledge. Ayurveda offers a holistic approach to human health and well-being. Which emphasizes the balance of mind, body and soul. On the other hand, considering the increasing trend towards Ayurveda among people, starting an Ayurvedic retail shop can be a good business option.
According to Ayurveda, each person is unique, and he or she is unique with physical and emotional characteristics. Which are known as their doshas, which are Vata, Pitta and Kapha. And each person has a unique combination of these doshas. Which determines their overall physical and mental constitution. Today’s run-of-the-mill life and poor lifestyle have also given rise to various diseases, due to which the importance of Ayurveda has increased a lot. After covid, the sale of Ayurvedic medicines in the Indian market is increasing very fast and in the last few years, the trend of people towards Ayurveda has increased a lot.
By adopting Ayurveda into your lifestyle, you can balance the doshas and promote good health. These include a number of herbal remedies including massage, yoga, meditation and dietary changes. Apart from this, some of the benefits of Ayurveda can be as follows. Like better digestion, better sleep, less stress and improvement in overall health etc. Ayurveda has also been found to be effective in treating a variety of health problems including arthritis, asthma, anxiety and depression.
If you are thinking of opening an Ayurvedic retail shop then this time will be good to make your business successful. Because, Ayurvedic products have higher margins as compared to other health and wellness products. Starting an Ayurvedic retail shop can be a great opportunity for you to build your brand and market your store for Ayurvedic products. And a well branded store helps in attracting customers. Due to which your business can get long term benefits. So let us see in this article what are the important investments we should keep in mind for opening an Ayurvedic retail shop.
Step 1: Research and Planning:
Market analysis:- You can get valuable information about Ayurvedic products from pharmacy and dispensary in your area. Which can help you survey local customers to determine the demand for Ayurvedic products. And can analyse sales data. Additionally, you can get an idea of the popularity of Ayurvedic products by looking at websites like Amazon, Flipkart, 1mg, and other e-commerce sites.
Competitor analysis:- You will need a business strategy plan and competitive analysis if you want your Ayurvedic retail shop to be successful. And, by identifying your competitors and understanding their offerings, you can target your customers. And you can launch your potential range of products in the market. Additionally, check their websites, social media profiles and online reviews of businesses that offer products or services similar to yours.
You can use market research to identify companies offering similar products or services in your Ayurvedic industry sector. For this, you can survey the Ayurvedic stores in your local area. Or, you can also use online research. Also, once you’ve identified your competition, analyze their offers. Look at their products, services, pricing and marketing strategies. And try to understand what sets them apart from other companies in your industry.
Identified Target audience:- You need to have an in-depth understanding of Ayurvedic products and services to determine your potential customers. And what is the pain point of your target customers, considering factors like their age, gender, income, location, interests and values we can launch products and services in the market according to their needs. Also, study your competitors and find out what kind of products they are launching in the market and how they are marketing them.
Choose The Right Product Selection for your store :- When opening an Ayurvedic retail shop, choosing the right, healthy products to sell can make your business a success. So determine your target customers what specific ailments they are looking for, whether they are looking for skincare or haircare products or are interested in natural supplements? Knowing your target market will help you select products that are in demand. Apart from offering you popular products, you can also choose from unique products that are not easily available anywhere else. This will help differentiate your store from the competition
Step 2: Create a Business Plan:
The right kind of business plan can prove beneficial for your shop, and it can also help your business stand out from other businesses. But for this you have to pay attention to some things in which you should know about your target market and along with this you have to launch the product range in the market as per the needs and preferences of your customers.
Nowadays is the internet age, so your potential customers can find you online as well. Therefore, you need to register your business on Google My Business so that your store can be recognized online to increase your sales, along with this you can also use Google Ads or Facebook. With the help of online ads, you can run your ads targeting a specific area and reach your target audience easily.
In the early days of starting your store, you can also distribute flyers of your ayurvedic shop, educating customers about your business and what type of medicines and services you are offering.
Step 3: Create attractive store design and layout:
If your budget is a little higher, you can try to make your Ayurvedic retail store attractive. In this you can consider using natural materials and colors to evoke the essence of Ayurveda. So that your customers can get more attracted towards your store.
Step 4: Choose The Source of Investment To Start Ayurvedic Retail Shop:
As far as possible to open an Ayurvedic retail shop it will depend on your location, in which area you are going to open the shop, is your shop rented or own will your product selection remain? How much product range do you want to add to your store in the beginning? Are you ready to spend money on marketing as well?
Now let’s talk about investment, do you want to invest your own money to open your ayurvedic store or you can borrow your family or friends, apart from this you can raise money from fund raising program run by some government as under the Startup India scheme. https://www.startupindia.gov.in/ By the way, nowadays many banks are also supporting small business, you can also go to them for bank loan etc.
Step 5: Legal Considerations For Ayurvedic Retail Shop:
Here we will talk about some important aspects of registering an Ayurvedic shop, depending on how you want to register your Ayurvedic retail shop Are you thinking of registering a Sole Proprietorship firm? Or you are looking to register your firm as a Private Limited. If you are in partnership with someone, your firm can also be registered in partnership.
Well we want to tell for your information that a Sole Proprietorship firm does not require any business registration. To open an Ayurvedic medicine shop in India, you need to register for Value Added Tax (VAT) under the Tax Registration Rules. Apart from this, you can also take other licenses to open your Ayurvedic retail shop, which include
Ayurvedic Drug License: Which is issued by the State Drug Control Department
Goods and Services Tax (GST) Registration: Required to pay taxes
FSSAI License: If you want to sell food products then you will need food license
Step 6: Choose a Location For Ayurvedic Retail Shop:
You can choose the location according to your business to open an Ayurvedic retail shop, it depends on the minimum number of products you are starting. Generally, a small Ayurvedic retail shop may be between 250 to 500 square feet, while a large store may be around 1000 square feet or more. This will depend on how much space you have in your store to stock the products. And how much space do you need for the customer’s seating area.
You should design the layout of the Ayurvedic retail shop in such a way that your customers can find the medicine products easily. Place your products on shelves or in display cases at eye level for easy access. This will make it easier for the customers to view and access the products.
Make the entrance of your Ayurvedic store welcoming and attractive to attract customers and provide a comfortable seating area for customers to relax and wait for consultation
Step 7: Build Relationships with local wholesaler or manufacturing company
It would not be wrong to say that running an Ayurvedic retail shop can be challenging. If you want to pursue the business opportunity, you will need to do a little research and development. For this you can consult a businessman, doctor or independent pharmacist. And, get more advice in your area on how you can make your business profitable.
You will find thousands of Ayurvedic manufacturing companies on the internet, from where you can easily get the products for your shop, as well as you can also contact the local wholesaler of your area. also make a good relationship with the doctor or clinic in your nearby area, tie-up with them, it will help a lot in growing your store business.
Step 8: Market Your Ayurvedic Retail Shop
Try to identify your potential customers and prioritize targeted marketing campaigns by understanding their needs and preferences. And, develop a unique selling proposition. This will help you to know what sets your Ayurvedic retail shop apart from other similar businesses in the market. Whether it’s the high quality of your products or your personalized customer service.
Strive to develop a strong brand identity. This can help identify the values and personality of your Ayurvedic retail outlet, which will set you apart from your competitors and increase customer confidence in the products.
In today’s digital age, having an online presence for your business is of utmost importance. Social media is a great way to connect with your potential customers and showcase your products. Through platforms like Facebook, Instagram and Twitter, you can share pictures of products, give tips and advice to your customers. and can talk to them. And you can also sell Ayurvedic medicines online through your website.
Conclusion
Ayurveda is a very old traditional medical system in the Indian system of medicine. Which plays an overall role towards human health welfare. Therefore, in today’s era, Ayurveda is rapidly gaining popularity in many countries including India. An Ayurvedic retail outlet can be a great business opportunity, as it allows you to provide your customers with effective Ayurvedic treatments for their healthcare products. However, to start an Ayurvedic retail shop, you need to prepare a business plan by identifying the needs of your customers and doing market research.