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My father’s grocery store changed face after quitting a high-paying job, now he earns 5 million rupees from the start

New Delhi. It is said that time keeps changing and with the passage of time you have to introduce many changes in yourself. Sanjay Agarwal and his son, who live in Saharanpur, Uttar Pradesh, have followed this closely. About 14 years ago, in 2006, Sanjay Aggarwal decided to expand his grocery store from 10X20 square feet to 1,500 square feet. But, even after this update, his business did not experience much growth. Sanjay’s son, Vaibhav Aggarwal, noticed that his father could not make enough profit or take the business further even after so much hard work. Losses, lack of capital, and underinvestment continued to undermine his business. Seeing this struggle of his father, Vaibhav, 31, helped himself. Apart from this, Vaibhav has rejuvenated more than 100 grocery stores in a dozen cities today. Thus began his start-up: The Grocery Store Company. In the last two years, he earned income of around Rs 5 crore from this startup.

Vaibhav says that his father was the only earner in the household and that he used to run a grocery store by the name of ‘Kamla Store’ in Saharanpur. After completing engineering in 2013, Vaibhav worked with his father in the shop for a few months and then started working at a multinational company in Mysore through an on-campus placement. His experience in the Mysore retail market turned out to be completely new to him. Vaibhav, who lives here for work, discovered that there are smart stores here. These stores have very different product mixes and chain systems.

He left the multinational company and got a job with a salary of 10 thousand rupees.
After shopping at these stores, he came up with the idea of ​​how he could improve his father’s store. After knowing about these stores for about a year and after some deliberation, Vaibhav resigned from his job. In 2014, he became a sales manager at a retail company in Saharanpur with a salary of Rs 10,000. Vaibhav says that during this time he understood everything from retail logistics to how his product mix changes with location and distance. They found that the product mix changes every 1 kilometer. There is even a difference between presentation and packaging. After seeing all this, many kinds of business ideas began to come to Vaibhav’s mind, but he was in no mood to leave his work once again.

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The specifics of the retail store learned from studies and work experience.
There was a boom in the startup industry in 2014-15 but they didn’t have any specific information about it. To understand the concept, he decided to do his MBA in Delhi. Here, with the help of scholars and professors, he helped shape the idea of ​​his. She was able to know about the grocery retail market and many other matters related to the unorganized sector. After completing her master’s degree, in 2017 she started working at a FMCG company in Delhi. From this work, she got information about the retail market in 6 states including Punjab, Haryana, Uttar Pradesh. She understood every detail of the product flow and prepared reports.

First rejuvenation of the father’s shop
Within a year, Vaibhav decided to leave this job and change his father’s grocery store. For 2018 they made a lot of changes in this store. He changed the way products are stored in this store, developed software to collect information on product sales and inventory management. He removed from the store those products that were causing losses due to low sales and kept all the products in the store in such a way as to attract the attention of the customers. In this way he increased the number of clients and his spending capacity.

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Changed the fate of 100 stores in small towns.
This change reached people in his store through word of mouth. Thus, a person after seeing his store requested to change his store in the same way. After putting a little more emphasis on digital marketing, a few more people demanded that he change his store. Thus, Vaibhav launched his startup. Vaibhav says that as of January 2021, he changed the image of more than 100 stores in about 12 cities. Most of these are from Tier II and Tier III cities. Speaking from his experience, he says that people in the grocery business are ready to make changes, but they don’t get such services through which they can get guidance. Most of the grocery stores come from the time of the grandfather or the father. They have not changed with the times and the changing market.

This startup is also working to build a new store.
Vaibhav startup not only works to bring about changes to the old store but also helps to build a new store from scratch. With the help of this startup, customers also have the facility to take some products. In addition to fees, they charge Rs 1,000 per month at each store for software and analytics. The analytical report is issued every 15 days so that the merchant can make the necessary changes in his store. In addition to managing inventory, it also helps drive business.

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What is the biggest challenge of this startup?
In fiscal year 2019-20, this startup generated revenue of Rs 1 crore. It is estimated to rise to Rs 5 crore by March 2020-21. Vaibhav further explains that the most difficult part of his business is how to prepare customers for the changes in his stores. They have to give information about the gains from making this change. Aside from this, customers also have to be explained about spending on this. This start-up has changed many shops between Rs 7 lakh and Rs 30 lakh. It takes them from 6 months to 1 year.

Tags: business news in hindi, indian startups, start idea, success story


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