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Appliance Store Business Loan

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It is a good choice to start a business in India selling appliances. Indeed it is one business that has constant demand all through the year. People across the country require the appliance to make their living. Irrespective of their economic condition they purchase appliances. Therefore you can plan to start a business with minimum investment. We will provide you with a business loan for appliances and help you grow your profits.

Bit of statistics about appliance business in India

TechSci Research has submitted a report stating that there will be 25% growth in Indian Kitchen Appliance business by 2019.


Statista report confirms that the appliance business has a revenue-generating potential of US$1678m. There are more than 182.9m users to purchase appliances. CAGR 2019 -2013 annual growth of revenue from appliance business will be 13.9%.

Not only in India but across the globe there is a growing need for appliances with an estimated annual growth of 3.8 percent. You can even capitalize on this market by starting an online store.

Given these details, we can see promising growth in the appliance business in India.

Points to consider starting an appliance business

  • Understand the market before you think of investing in the business. Choose an area where you will have demand for the items. This depends on your investment amount. If you want to start with less investment, then opt a city where people requires your service. Therefore thorough the market study is the key for a successful business.
  • Then decide on your funding options. How much you can afford to? Whom will you contact for a business loan? What is the total amount required for setting up the shop, purchasing appliances, maintaining the shop, etc? Brainstorm all these facts.
  • Further, analyze the tax features and other legal requirements to set up the store.
  • Now, make a plan keeping all options in mind.
  • Finally, approach us and we can provide you with a business loan for appliances up to one crore and help you nurture your dream.

Few Ideas for your appliance business

Yes, we cannot deny the fact that there is a need for appliance stores across India. But you must be aware of the competition as well. Reliance Digital is adding 100 stores across 40 cities in India and will compete with the Tata’s Croma that has 130 stores. Not only these giants are in the market but there are several small scale players making a profit. This means you need to make things different to flourish your business. Do not panic and that is not difficult. We will give you a few inspiring ideas to stand unique in the appliance business.

  • Go Online

With the minimum investment, you can start an online store. You need a storehouse to keep your things. But there is no need for a lavish showroom and instead, you can get a website designed and capture images of the appliances to be sold. You can provide offers like free home delivery, EMI payment, etc. Have a vehicle and send the things to the purchaser residence which will save their time and money. Going online is one best option which many customers love to utilize. Look for places where online presence is less and start your service there to get more business.

  • Go Green

Think differently and try selling home appliances that are environment-friendly. For instance, you can check out energy-efficient ovens, water filters, washers, etc. For example, the refrigerators and air conditioners are causing harm to the ozone layer. You can look for coolant fluids that are free of CFCs and HFCs. It is understood that these appliances may be costlier than the normal ones but there are people who consider buying this for the wellbeing of the nation. You can be one among the few business owners to take this initiative to start a go green appliance store.

 

  • Go Smart

It all started with the millennial who look for all smart products. Not only smartphones but everywhere this smart concept is getting applied. So go for a business which can provide a smart solution for all appliances. This will certainly be a niche market and the demand also will be less initially. But if you can invest in this type of products, then you can skyrocket your business.

Eligibility Criteria

Once you understand all the above points we are sure that you are ready to apply for a business loan. At this juncture, we would like to let you know the eligibility criteria to start a business in India as per the Indian constitution.

  • You must be older than 21 and must not exceed 65 to apply for a loan
  • Plan for a business that can yield a minimum of 2 LPA as returns
  • Your business should have made a profit during the last one-year bare minimum

Documents Required for Appliance Store Business Loan 

  • Identity proof
  • Address proof
  • PAN Card
  • Minimum of six months bank statement
  • ITR filed for at least 2 years
  • Debt obligation details if any
  • Cash flow statements
  • Recent passport size photograph
  • Appliance shop permit

Charges on the business loan

We can discuss the rates and charges of your loan based on the following criteria as a case to case basis.

  • CIBIL Score
  • Net worth
  • Cash flow
  • Working capital
  • Sum required and duration
  • Inventory ratio
  • Foreclosure charges
  • Commitment and prepayment rates

Best features of FlexiLoans

  • We offer business loan to set up an appliance store in more than 100 cities in India. You can choose the city and we will arrange for funding. For your reference, places like Guntur, Vasai, Surajpur, Nagpur are some of the cities where you will have great earning potential from the appliance business.
  • You can stay assured of our loan process which is very simple and no paperwork required. All you need to do is to fill our online form and upload mandatory proof documents.
  • Wait for not more than 48 hours to know the status of your loan application.
  • We do not demand any collaterals and our process is transparent. There is no hidden clause in any manner.
  • Also, you can understand the interest calculation using our simple EMI calculator. It is straightforward and you need not get baffled about the amount you need to repay.
  • You can plan for a business and discuss with us to get maximum credit amount of one crore.

With all these highlighting features we are customer friendly and will guide you in each step to make your business a great success.

Click here to apply for a business loan today.  


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