Review of 20 baht shop, one of the most popular businesses in Thailand.
In Thailand, 20 baht shops are considered one of the most popular shops, no matter where we go, we will see 20 baht shops, of course there will be many people. I want to try to open a 20 baht shop. So today we come to ask for a review of the business of the 20 baht shop.
Open a shop for 20 baht. How much investment do you need?
Nowadays, no matter what we do, we need money. And of course, opening a 20 baht shop requires a certain amount of investment money. The investment of the shop is 20 baht, mainly from the cost of buying products to stock in the store. The cost of building, decorating the shop and renting the place
- Cost of setting up a shop: in opening a shop or various shops Then we need to have the cost of construction or decoration. The cost of construction or decoration depends on the size of the place. We may see a small 20-baht shop to a 20-baht shop that is a warehouse or building. The cost of decorating a 20 baht shop that is not large may start from a few tens of thousands to hundreds of thousands.
- Buying necessary supplies and equipment in the store In the 20 baht store, there are many necessary equipment, whether it is a cash register. Product shelves, product labels, store management systems or other necessary equipment These devices are essential to the 20 baht shop very much. such as shelf Or like a cash register with these things will make the 20 baht shop more convenient. and make the store management systematic more regulation itself
- Buying products in stock, 20 baht stores need to buy a lot of products in stock in the store. And it is necessary to have products that cover many items because if customers or people who come to use the service need certain products There are not many people in our shop, so they may not come back to use the service for the second time, it's possible that the 20-baht shop needs to stock a lot of products. And of course, the cost of stocking depends on the size of the store. by small shop May have to invest from 50,000 baht to hundreds of thousands of baht, depending on the size and number of products that we want to stock.
- Location and rental fee of 20 baht shop is like many places. Necessary outlets are located in a good location. It's crowded because the 20 baht shop business focuses on selling a lot of products. Many locations already have a 20-baht shop, or many locations have expensive rental fees, so if anyone wants to make a 20-baht shop, it is necessary to think carefully about the location and the rent.
Choosing a location to open a 20 baht shop
In many businesses about selling products or services, if they have a good location, they will have an advantage. The 20 baht shop is the same, if the 20 baht shop business has a good location. 50% because the 20-baht shop business is one of the highly competitive businesses. and stores in better locations is often more advantageous making it in the long run Stores in unfavorable locations may have to close their stores.
What is a good location in a 20 baht shop?
This business is considered one of the businesses that has a very wide customer group or almost anyone can call it. It is the customer group of the 20 baht shop because many products are suitable for coming to buy in the 20 baht shop, and the 20 baht shop is also one of the shops that are easy to buy and sell well. Therefore, a good location for setting up a 20-baht shop must be located in a crowded community and easily accessible. Causing us to see 20 baht shops in many areas For example, in front of Tesco Lotus. according to rows of buildings near the market or in the community If there is a parking space in front of the store, whether it is a car or a motorcycle, it will be even better.
One of the important issues in choosing a location for a 20 baht shop is whether there are competitors in the area or not. If near the location we want, there is already a 20 baht shop. This is considered one of the hardest to open in that area. because if he was in a better location It will be difficult for us to open and compete with him, and the shop that has opened before has a high probability that people in that area will be regular customers. Opening a 20-baht shop near a competitor with a better location It is considered inappropriate.
stocking products in the store 20 baht
In the investment of a 20 baht shop, it is necessary to stock a lot of products, with each product having different costs and profits. Many products have both good and bad sales. But in general, 20 baht stores need to stock many items. because if the service user comes to find products in our store If the product is not found, there is a possibility that the customer may not return to our shop again.
For example, if the customer want to buy scissors And our shop is not for sale. Customers may go to other stores, which will cause us to lose our current and potential customers in the future as well. Causing many items that are not popular with the general public, but those who run a 20-baht shop business may need to stock some of the products as well.
Cost of goods and profit of the store 20 baht
The cost of goods in a 20 baht store will be in the range of about 10-15 baht, depending on the product. And in general, when buying products in stock in the store Often buy in bulk, resulting in a special price, with a 20 baht shop earning profit per piece of product sold in the price range of 5-10 baht.
Of course, the best selling products May get a profit of 5 baht per piece, but some products that do not sell well may have a profit of 10 baht per piece. 1 of the products that sell well, but earn a profit of about 4 – 5 baht per piece, with products such as rat poison or mothballs, we may find them at a price of less than 10 baht per piece, which will make us profit more than 10 per piece. baht
At present, the average profit of a 20-baht shop is about 20-30% of sales, so if any 20-baht shop has sales of about 100,000 baht, the profit will drop to about 20-30%. 20,000-30,000 baht, which sales 100,000 baht per month. I have to sell about 100-200 items per day, which is not an easy amount for a store located in a poor location. And the amount is not difficult for a store located in a good location.
Finding a source to buy products from the 20 baht shop
In the business of a 20 baht shop, you can find many sources to buy products, whether it is a wholesale store in various places. Franchise about 20 baht stores or various websites that wholesale products. Many places have different pros and cons.
1. a wholesale store near the house
If we buy products from wholesale stores near home to stock There may be advantages that can be done easily and less problems, but the products that are strong trends or products. may not have the product we want The price also varies according to the wholesale stores near the house as well.
2. Franchise about the shop 20 baht
Nowadays, there are many franchises related to 20 baht shops. Which many franchises also wholesale products to various 20 baht stores as well, with franchises also having a complete range of products Whether it's a trendy product or an off-trend product, but the price may be cheaper or more expensive than outside, depending on the franchise. and may also have various conditions To order more as well
3. Wholesale website
Ordering from a wholesale website is also a good option as we can find almost anything from many wholesale websites. And the price can also be easily compared. But nowadays, there are many websites that deliver products that are not up to standard or that do not deliver as we want. Causing us to find a reliable website Both the order from the website still has a delivery fee and the more we order, we still have to pay a lot of shipping.
Advantages of the 20 baht shop
- Inexpensive products Products in a 20-baht shop are often priced at 20 baht, making it possible for buyers or users to buy in bulk and also easily buy them.
- Easy to start, a 20 baht shop is one of the businesses that are easy to start.
- Products can be stored for a long time. Most of the products of 20 baht stores can be stored for a long time because they are often utensils and equipment.
- Twenty-Baht Shop's Target Group Normally, a Twenty-Baht Shop will have a very wide target group, almost covering all groups because many items can be found easily at a Twenty-Baht Shop.
Disadvantage of 20 baht shop
Many items are not sold out. Products that are in stock may not be sold because they are out of date or are not popular. These products, if ordered or stocked continuously for a long time, may be one of the points that cause the capital to sink. For example, a mobile phone case that is outdated. Until causing many entrepreneurs to come out and say that the profit of the 20 baht shop is the product that cannot be sold (meaning that there is no profit, only the remaining products)
Poor quality Due to the low cost, many items of the 20 baht shop are not of good quality. Causing many people to say that the products from the 20 baht shop are not of good quality. But these are people's opinions, so many people choose not to use products from the 20 baht shop.
The problem of stocking products Many business people may have to face the problem of stocking products because some products may not be sold or do not sell well. But together, many products may sell well until they are not in stock. Making the problem of stocking products is also one of the problems of 20 baht stores.
Checking and stocking products of the shop 20 baht
- In trading, checking goods and stocking goods is one of the important things. Because checking the product will allow us to know which product is the best selling product. Which product is the product that doesn't sell well? And how many products do we have left? The problem of many 20-baht stores is not checking stock. Because we do not know how many products we have left.
2. In the 20 baht shop, it is always necessary to order products. But ordering a lot of products that we have left may not be a good thing. And in fact, sales, whether at convenience stores or retail stores, are always met with people who love petty things. Sometimes we may not know how many lost products we have, and the stock check also helps us to check if we have a broken product.
3. Allowing the customer to receive the damaged product may be more detrimental than if we discard the product because People who come to buy products in 20 baht stores tend to be regular customers who visit often. If they receive damaged or problematic products, we may lose regular customers.
Checklist of making a successful 20 baht shop
1. The shop is in a good location with a lot of people passing by.
2. Customers who come to have a parking lot, whether it's a car or a motorcycle.
3. Products have a wide variety to cover. Customers don't go back empty-handed.
4. There are various promotions that help attract customers.
5. Products and shelves are always full.
6. Have good service, take care of customers.
7. Always update trends products that do not go out of style
8. The shop is known by local people.
9. Decorate the shop well. tidy
10. Always check the stock of products.
11. Collect information on products that sell well and products that do not sell well.
12. Check what local people want.
