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A PROJECT ON
ENTERPRINERSHIP DEVELOPMENT
CCA1008 – A1
Evaluation of Retail Shop
(With Reference from Vellore)
Bachelor of Commerce
By:
PRAVEEN KUMAR S (15BCC0015)
KARTHIKEYAN C R (15BCC0043)
RAHMATUHULLA H (15BCC0069)
MANISHANKAR R (15BCC0088)
Under the supervision and guidance of
Dr. MUTHUMEENAKSHI
Assistant professor
School of Sciences and Languages (SSL)
May - 2016
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INDEX
NO TITTLE PAGENO
1. CHAPTER I 4 – 8
1. Introduction 4
a. What is retail shop 4
b. Definition of retailer 4
c. Brief about retail shop 5
2. Objectives of the retail business 5
3. Objectives 7
4. Methodization 7
5. Questionnaires 7
6. Indicators for term work 7
7. Identifying high-level risk, be sure to consider the following risk attributes 8
2 CHAPTER II 10 – 28
1. Analysis and interpretation 9
2. Findings and Conclusion 27
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List of Table Charts
TABLENO TITTLE PAGE
NO
1 Type of business 9
2 Whether this business is started by your ancestor 10
3 Numbers of year you doing this business 11
4 Initial investment for your business 12
5 Any other business 13
6 Selection of business 14
7 Numbers of members in your family 15
8 Type of profit 16
9 Management of the his family by earning profit from his business 17
10 The nature of this business 18
11 No. of customers you are handling per day 19
12 Having any new method to develop the business 20
13 Types of new method 21
14 Credit customer facility 22
15 No. of days that the shops offering to creditors 23
16 Are you facing any obstacles in this business 24
17 Types of obstacles business mans are facing 25
18 Any idea of opening new branch 26Chapter I
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INTRODUCTION AND RESEARCH DESIGN
What is retail shop?
A store that sell smaller quantities of products or services to the general public. A business that operates as a retail outlet will typically buy goods directly from manufacturers or wholesale suppliers at a volume discount and will then mark them up in price for sale to end consumers.
Definition of retailer:
A business or person that sells goods to the consumer, as opposed to a wholesaler or supplier, who normally sell their goods to another business.
Our project is about retail shops and we are collecting information’s in retail shops in Vellore and we are dividing the business in to sole trader and partnership and we are asking type of business and also we take the information that how many years they are been in that business and we ask the number of family members and profits of the business it may be monthly profit or daily profit and we ask the person profits is able to manage the family or not.
And also we get the information about the number of customers they are handling per day and we ask whether the person having credit customer or not and if they say yes we ask the person how many days they are giving credits to the customer.
And we ask why that person select the business whether he has own interest or family business. We also get the information about the motive of the business because the business have profit motive and also service motive we ask person whether he have any new method to improve the business if they say yes we collect the ideas of the new method and also we get the information about what are the obstacles they are having in the business and finally we ask the person whether he have any idea to open a new branch these all the information’s we get from the retail shops
Brief about retail shops
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Retail is the process of selling consumer goods or services to customers through multiple channels of distribution to earn a profit. Demand is created through diverse target markets and promotional tactics, satisfying consumers' wants and needs through a lean supply chain. In the 2000s, an increasing amount of retailing is done online using electronic payment and delivery via a courier or postal. Retailing includes subordinated services, such as delivery. The term "retailer" is also applied where a service provider services the small orders of a large number of individuals, rather than large orders of a small number of wholesale, corporate or government clientele.
Shops may be on residential streets, streets with few or no houses, or in a shopping mall. Streets may be for pedestrians only. Sometimes a shopping street has a partial or full roof to create a more comfortable shopping environment protecting customers from various types of weather conditions such as extreme temperatures, winds or precipitation. Online retailing, a type of electronic commerce used for business-to-consumer transactions and mail order, are forms of non-shop retailing.
Shopping generally refers to the act of buying products. Sometimes this is done to obtain final goods including necessities such as food and clothing; sometimes it is done as a recreational activity. Recreational shopping often involves window shopping (just looking, not buying) and browsing and does not always result in a purchase.
OBJECTIVES OF RETAIL BUSINESS:
Customer Satisfaction :
Retailers know that satisfied customers are loyal customers. Consequently, retailers must develop strategies intended to build relationships that result in customers returning to make more purchases.
Acquiring the Right Products:
A customer will only be satisfied if they can purchase the right products to satisfy their needs. Since a large Percentage of retailers do not manufacture their own products, they must seek suppliers who will supply products demanded by customers. Thus, an important objective for retailers is to identify the products customers will demand, and negotiate with suppliers to obtain these products.
Product presentation:
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Once obtained, products must be presented or merchandised to customers in a way that generates interest. Retail merchandising often requires hiring creative people who understand and can relate to the market.
Traffic Building:
Like any marketer, retailer’s must- use promotional methods to build customer interest. For retailers a key measure of interest is the number of people visiting a retail location or website. Building “traffic” is accomplished with a variety of promotional techniques such as advertising, including local newspapers or Internet, specialized promotional activities, such as coupons.
Layout:
For store-based retailers, a store’s physical layout is an important component in creating a retail experience that will attract customers. The physical layout is more than just deciding in what part of store to locate products. For many retailers designing the right shopping atmosphere (e.g., objects, light, and sound) can add to the appeal of a store. Layout is also important in the online world where site navigation and usability may be deciding factors in whether a retail website is successful.
Location:
Where to physically locate a retail store may help or hinder tore traffic. Well placed stores with high visibility and easy access, while possibly commanding higher land usage fees, may hold significantly more value than lower cost sites that yield less traffic. Understanding the trade-off between costs and benefits of locations is an important retail decision.
Keeping Pace With Technology:
Technology has invaded all areas of retailing including customer knowledge (e.g., customer relationship management software), product movement (e.g., use of RFID tags for tacking), point-of-purchase (e.g., scanners, kiosks, self-serve checkout), web technologies (e.g., online shopping carts, purchase recommendations) and many more.
OBJECTIVES OF THE STUDY:
1. To know the financial position of the retail shops in Vellore town.
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2. To analyse the investment details of the retail shops in Vellore town.3. To identify the barriers of the retail shops in Vellore town.
Methodisation:
In today’s business environment, two factors have become common: change and complexity. The nature of business has incorporated these factors into our everyday lives. We work in an environment of constant change and increasing complexity, and must be competitive, productive, customer-focused, and profitable.
A project has boundaries, so its extent is defined. A project is a one-time effort, usually requiring finite resources. There are distinct start and end dates for projects. You know when you have reached the end of the project.
Questionnaires:
Questionnaires are often used to assess the current situation. The main objective is fact gathering; the subject matter does not need verbal explanation
and immediate feedback. Opinions must be gathered from a large group of persons. Time and resources for interviewing are not available.
Indicators for Teamwork
The task to be performed requires the participation of several team members to produce a deliverable and reach consensus.
The task to be performed is a logical extension of previous activities, such as a user workshop or interviews.
The task to be performed needs the skills of several persons.
Methodology:
Data collection: Through questionnaire Primary data were collected.
Sample size: The data were collected from twenty respondents who are residing at Vellore town.
Statistical Tools: Using percentage analysis with the help of charts and diagrams, the results were represented.
When identifying high-level risks, be sure to consider the following risk attributes:
Budget
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Schedule Items Performance Development Technology User Attributes Business Change Cost or Financial Vendor or Contractor Human Resources Politics Acts of God Requirements
The project team will determine what types of resources are needed and how much of each one are needed to complete the activities. The duration of any task is usually influenced by the amount of resources assigned to it. Members of the project team may have been involved in a similar project and may have direct experience with task durations. Finalize material and produce presentation material packets along with any other needed materials like charts, bar diagram etc.
Chapter – 2
ANALYSIS AND INTERPRETATION
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In this chapter the researcher analyzed the collected data and interpreted. The results are depicted here.
Table 2. 1
Type of business
Type of Business No. of business
Sole trader 9
Partnership 11
Sole trader Partnership
9
11
Type of Business
Diagram – 2. 1
Explanation:-
Hence this table2.1 and diagram2.1 shows that in this analysis there is more are partnership firm business.
Table 2. 2
Weather this business is started by your ancestor
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Ancestor Business Your idea
Yes 12
No 8
60%
40%
Your idea
YesNo
Diagram – 2. 2
Explanation:-
This table 2. 2 and diagram 2. 2 shows that there are many business are where started by their ancestor where it shows that there are 12 members are continued with their family business and other 60% that means 8 members are started there owe business.
Table 2. 3
Numbers of year you doing this business
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No. of Years Years
Less than 10 Years 10
10-20 Years 7
More than 20 Years 3
Less than 10 Years
10-20 Years
More than 20 Years
0 1 2 3 4 5 6 7 8 9 10
10
7
3
Years
Diagram – 2. 3
Explanation:-
This table 2.3 and diagram 2.3 shows that there are few peoples are more experience in their business there are many members are under 10 years of experience
Table 2. 4
Initial investment for your business
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Initial Investment Amount
less than 1 Lakh 8
1 - 2 Lakh 9
More than 2 lakh 3
40%
45%
15%
Amount
less than 1 Lakh
1 - 2 Lakh
More than 2 lakh
Diagram 2. 4
Explanation:-
This table 2.4 and diagram 2.4 clearly shows that there are more people are invested more than 2 lakh and some are also invested less than 1 lakh. It shows that the people will invest according to the financial back ground.
Table 2. 5
Any other business
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Other Business No. of
Yes 4
No 16
Yes No0
2
4
6
8
10
12
14
16
4
16Other Business
Diagram 2. 5
Explanation:-
Hence this table 2. 5 and diagram 2. 5 shows that many members are not doing the additional business. Where some people are doing their additional business for his financial.
Table 2. 6
Selection of business
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Types Selection of Business
Own Interest 11
Family Business 9
Own Intrest 55%
Family Business45%
Selection of Business
Diagram 2. 6
Explanation:-
Hence this table 2.6 and diagram 2.6 shows that there are many people started their business according to their own interest but also the family businesses are continuing.
Table 2. 7
Numbers of members in your family
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Types Number of members in their family
1 to 5 16
5 to 10 4
More than 10 0
1 to 5 5 to 10 More than 1002468
10121416 16
40
Number of members in there family
Diagram 2. 7
Explanation:-
Hence this table 2.7 and diagram 2.7 shows that this business man are mostly small and middle family only and they are not big family back ground.
Table 2. 8
Type of profit
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Type of profit No. of types
Monthly profit 13
Daily profit 7
Monthly profit 65%
Daily profit 35%
No. of types
Diagram 2. 8
Explanation:-
According to this analysis there are many business are during their profit according to the monthly bases. This is clearly explained by this table 2. 8 and diagram 2.8.
Table 2. 9
Management of the his family by earning profit from his business
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Profit Management to their family No. of
Yes 16
No 4
No. of
0 2 4 6 8 10 12 14 16 18
16
4
Profit Management to there family
No Yes
Diagram 2. 9
Explanation:-
This table 2.9 and diagram 2.9 explain that there are able to manage their family by doing their business even though there are some people are count able to manage their family by doing one business so this people are doing there additional business.
Table 2. 10
The nature of this business
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Types Nature of the Business
Service 3
Product 17
Service Product
3
17
Nature of the Business
Diagram 2.10
Explanation:-
According to this analysis the business are done in the process of product method only that is clearly shows by the table 2.10 and diagram 2.10.
Table 2.11
No. of customers you are handling per day
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No. of customer handling per day No. of customer handling per day
Less than 30 9
30 to 50 11
More than 50 5
36%
44%
20%
No. of customer handling per day
Less than 30
30 to 50
More than 50
Diagram 2. 11
Explanation:-
Hence this table 2.11 and diagram 2.11 shows that there are more shops are handling the customers 30 to 50. There is some shop where handling the customers more than 50. Similarly there is a shop handling the customer less than 30 also.
Table 2. 12
Having any new method to develop the business
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New Method No. of
Yes 14
No 6
0
2
4
6
8
10
12
14
16
14
6
New Method
Yes No
Diagram 2. 12
Explanation:-
Hence this table 2.12 and diagram 2.12 shows that the many are having the own interest to develop their business.
Table 2. 13
Types of new method
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New Method No. of
New Technology 6
New Package 7
Server Over Everything 1
New Technology
New Package
Server Over Everything
0 1 2 3 4 5 6 7
6
7
1
New Method
Diagram 2. 13
Explanation:-
This table 2.13 and diagram 2.13shows the more members are very interested in doing the improvement in their pack ageing and new technology they are more interesting in developing their business in that way.
Table 2. 14
Credit customer facility
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Having any credit customer No. of
Yes 12
No 8
60%
40%
Having any credit customer
Yes
No
Diagram 2. 14
Explanation:-
This table 2.14 and diagram 2.14 cleanly explain that there are any members are having their credit customers this shows that the customers also liking the shops that where credit is giving.
Table 2. 15
No. of days that the shops offering to creditors
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Days No. of Days that to be Offered
Less than 2 Months 7
2 to 5 months 4
More than 5 Months 1
Less than 2 Months 2 to 5 months More than 5 Months 0
1
2
3
4
5
6
77
4
1
No. of Days that to be Offered
Diagram 2. 15
Explanation:-
This table2.15 and diagram2.15 shows that all shops are giving credit but they are not giving more time to repay they are allowing less than 2 months for repaying there credit.
Table 2. 16
Are you facing any obstacles in this business
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Any Obstacles of Business No. of
Yes 18
No 2
90%
10%
Any Obstacles of Business
Yes No
Diagram 2 16
Explanation:-
According to this table 2. 16 and diagram 2. 16 tells that there are 90% of business mans are facing many problem in their business and they are ready to facing it also.
Table 2. 17
Types of obstacles business mans are facing
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Types Obstacles of Business
Lack of Finance 8
Lack of co-operative 9
Pathological Problems 1
Lack of Finance Lack of co-operative Pathological Problems0
1
2
3
4
5
6
7
8
9
10
Obstacles of Business
Diagram 2. 17
Explanation:-
Hence this table 2. 17 and diagram 2.17 shows that the many business people are facing lack of co-operative and next is lack of finance. This two only they are facing more.
Table 2. 18
Any idea of opening new branch
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Idea of New Branch No. of
Yes 13
No 7
No. of 0
2
4
6
8
10
12
14
Idea of New Branch
Yes No
Diagram 2. 18
Explanation:-
According to this table 2. 18 and diagram 2.18 shows that many are liking to open a new branch because of some obstacles that was lacked.
Findings:
According the researchers analysis the results found many things that are shown below: Researchers had taken 20 retail shops in and around Vellore In that researchers had taken 11 partnership shops and 9 sole trader shops
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There are many business are where started by their ancestor where it shows that there are 12 members are continued with their family business and other 60% that means 8 members are started there owe business.
There are few peoples are more experience in their business there are many members are under 10 years of experience
There are more people are invested more than 2 lakh and some are also invested less than 1 lakh. It shows that the people will invest according to the financial back ground.
That many members are not doing the additional business. Where some people are doing their additional business for his financial.
There are many people started their business according to their own interest but also the family business are continuing.
This business man are mostly small and middle family only and they are not big family back ground.
According to this analysis there are many business are during their profit according to the monthly bases.
There are able to manage their family by doing their business even though there are some people are count able to manage their family by doing one business so this people are doing there additional business.
The business are done in the process of product method There are more shops are handling the customers 30 to 50. There is some shop where
handling the customers more than 50. Similarly there is a shop handling the customer less than 30 also.
That the many are having the own interest to develop their business. The more members are very interested in doing the improvement in their pack ageing and
new technology they are more interesting in developing their business in that way. There are any members are having their credit customers this shows that the customers
also liking the shops that where credit is giving. That all shops are giving credit but they are not giving more time to repay they are
allowing less than 2 months for repaying there credit. There are 90% of business mans are facing many problem in their business and they are
ready to facing it also. The many business people are facing lack of co-operative and next is lack of finance.
This two only they are facing more. That many are liking to open a new branch because of some obstacles that was lacked.
Conclusion:
The retails shops are working well in Vellore town. They are earning a good amount of profit. But the barrier is to expansion of business it requires some legal formalities and they felt difficult in management if it is expanded at large level. Other things are favour for them to survive in the market.
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