Computer Retail Store
Type: Retail
Key product/s for sale: Computers, laptops, computer accessories, peripherals.
Technology considerations: Point of sale (POS) system, inventory management software.
Market for the product/s: Urban areas, particularly near colleges, universities, and high-traffic locations.
Key inputs into the business: Computers, laptops, accessories (mice, keyboards, monitors), retail space, branding materials.
Product preparation process: Ensuring all computers and laptops are in working condition, organizing and displaying products attractively in the store.
Quality considerations: Offering reliable and high-quality computer products, providing warranty and after-sales support.
Cost of investment:
- Rent: Ksh 20,000 shelving is factored here.
- Licenses: Ksh 6,000 business permit and fire certificate( Cost depends on County)
- Stock: Ksh 400,000
- Branding: Ksh 20,000
- Insurance: Ksh 15,000
- Shop attendant: Ksh 20,000 optional
- Wi-Fi Connection: Ksh 5000 – 8000
Total: Ksh 481,000
Required operational infrastructure: Retail space, shelving/display units, POS system, internet connection.
Most suitable or viable location of the business: Urban areas with high foot traffic, near colleges, universities, or tech hubs.
Potential sources of investment capital: Personal savings, loans from financial institutions, partnerships, or investors.
Requirements for effective management: Efficient inventory management, customer service management, and staff training.
Role of mobile phone and ICT in the business: Utilizing mobile phones for communication with customers, and managing inventory through inventory management software.
Statutory regulations and licenses: Obtaining business licenses from County Government offices, and complying with regulations regarding the sale of electronic devices.
Pricing: Competitive pricing based on market research and competition analysis, offering occasional discounts and promotions.
Profitability: Estimated profit margin of 30%, potential monthly profit of Ksh 50,000 after deducting expenses.
Next steps to take: Secure necessary licenses and permits, finalize retail space setup and branding, stock inventory, hire and train shop attendants, implement marketing strategies, and monitor performance to ensure profitability and growth. Additionally, address challenges such as competition, demand fluctuations, and customer service to maximize profits.