What is IndiaBuys Store?
IndiaBuys Store is a physical store where the customers can walk in and buy anything they want from vast categories of products/services. This store can be setup by anyone in their own town/city/village in a franchise model.
Is there any stock/inventory in the store?
No, there is absolutely zero stock present in the store. However there are few sample products.
What is the buying process in the store?
Step 1: Customer walks into the store and asks for the product or service.
Step 2: Store assistant will explain various options and features available based on the requirement.
Step 3: Store assistant then shows the product on the large screens.
Step 4: Once confirmed by the customer, order is placed and the product is arrived in 3-4 days.
Step 5: Issues related to payments, deliveries, returns and exchanges will be taken care by the store.
How will the customer know about the concept?
Since there are no products in the store, it takes some time for the customer to understand and walk into the store. Creating awareness about the store is the primary duty of the manager. For this various marketing channels can be used.
What are the different services available?
Amazon, IB Pay, Medicine, Loans.
What is IB Pay?
IB pay is a product of IndiaBuys which offers the store various micro services to sell. These services include - Travel Tickets, Money Transfers, Bill Payments, AEPS, BBPS, Pan card application.
What is the revenue model for stores?
Store earns on every product that is sold from the store. Commission depends on the product category or type of service sold.
What are the things required to start a store?
Shop, Basic furniture, Computer/Laptop, Internet facility, Television.
What is the total investment needed?
Total investment required for the store setup is 1.25-1.5 lakh.
What are the shop requirements?
Shop should be in a business area. It is not mandatory to have it on the major road. Size of the shop should be 120-150 sft
Is franchise fee refundable?
No, it is a onetime fee for the IndiaBuys Franchise License and agreement for two years
How many stores can be opened in each town?
One store can be setup in each town/village. If the population of the town is more than 50000 then multiple stores can be opened. We issue one store for a population of 50000. Distance between 2 Ib stores is more than 2km