Supplement Store Business in India.

Blog by- Anant Singh

Supplements are meant to aid your diet and your fitness goals. People often
confuse supplements as diet replacement tool; you cannot be entirely dependent
on supplements for proper nourishment, growth and conditioning of the
physique. Excessive use of supplements may also lead to dangerous outcomes
which are not desirable at all.
With the exponential growth in the fitness industry, there is an exceptional
growth in Supplement store industry too! With this comes a great demand of
supplements and supplement store. Starting your own body building supplement
shop is a lucrative and profitable business. You need to assess on the products
that you will sell in your store as this can make and break your entire business.
Nowadays, we see a lot of supplement stores being opened day in day out and at
multiple locations in almost every city. Most of the gym-goers are supplement
consumers too. Thus, there is a lot of demand of all types of supplements like,
BCAAs, Protein Shakes, Glutamine, etc. Thus, one can see potential business in
the field of supplements.
Now, to open a supplement store, one has three options, namely- Taking a
franchise, Partnering up with the gym or opening a store by oneself.
 Opening a store by oneself
To open a store by oneself, one requires keeping a lot of check on various things
but the profits made are entirely yours too. Thus, it is a good business option. One
should numerous licenses from FSSAI.
The following licenses will, however, be required to start a business of
Healthcare products:
1. The most important license which the businessman needs to acquire is
the FSSAI license which governs all the food products sale in India. It is mandatory to obtain a food license if you are a manufacturer, trader,
own a restaurant or involved in any food-related business.
2. The businessman is then required to obtain a NOC from the center.
3. He should then apply for Form B.
4. The Registration of company with ROC – you could register LLP/ Private
Limited Company.
5.  He is then required to Apply for PAN in the name of the company.
6. The TDS to deduct tax at the source for the payments that are exceeding
the authorized limit.
7. Profession Tax both for the directors or the partners and the employees.
8. VAT or the  Service Tax depending on the business model, in case you hold
stock and if you also have listing services then both the licenses, will be
needed.
9. However, Selling of non-OTC products online is not permitted.
10. The trademark is required for the brand name in order to start your online
domain.
11. Online domain, SSL, and the related clearances – All of these kinds of
documents will be required for online site optimization, marketing, etc.

Now, after obtaining the license, one need to keep the business going. One
should keep a track of inventory. Take really good care of marketing and
promotion campaigns so that people know about your shop. One should be really
active on social media regarding business as there is an increase in online
shopping of products from various social media sites. One should also lists it’s
business on sites which provide details about different businesses like justdial and
sulekha. Moreover, one should list his/her shop on various e-commerce sites such
as flipkart, amazon, etc.
Bodybuilding products are the main key factor to make profits in this field.
Anyone who is going to be a part of this business or is a part should keep a good
stack of bodybuilding supplements always. One should also take a good amount
of time to make decisions regarding what supplements on needs to sell in their
shop. Moreover, one should always try to tie up with authentic and well reputed
manufacturers and distributors. Selling fake products, being a part of the gray market will earn oneself a bad name and numerous cases which may lead to
really undesired results. One should always research on the products, keep the
ones that are really demanded by the customers and are really effective.
To stand out from the crowd, one needs to put in tremendous efforts. For this,
the shop owner may provide the customers with a supplement plan, a
promotional discount, a system that puts in points in the account of customer on
purchasing products which can later be redeemed to get additional discounts, etc.
One needs to keep a tight check on products apart from supplements to provide
an edge to his/her shop. By this, I mean, energy drinks, energy bars, duffle bags,
etc. These are in great demand.
One should also keep a tight check on the location of the shop; shops in posh
areas are more likely to be successful. Moreover, shops with great lighting and
well presentation are likely to get more customers and make good profits.
Moving on, one should also keep a check on what products are sold fast and what
are the ones that are rarely or seasonally required. According to this self-
generated report, one must keep his/her products in the shop. This avoids the
wastage of products as well as keeps you in stock always. Thus, the gist is one
should have products all the time to generate profit and avoid wastage of
products.
Advertising plays a big role in this business. One needs to advertise a lot, they may
go to a gym and ask them to put up their banners, distribute their pamphlets and
advertise them. Another way of marketing is Instagram and Facebook advertising.
One can also pay some local fitness trainers, models or influencers to promote
their shop on social media.
One should always price their items according to the market. The pricing of the
product must be done in such a manner that it gives a competition to the other
supplement stores and simultaneously not hamper the profits of one’s own
supplement store.
Thus, maintaining a supplement store all by oneself is a tedious job but the
rewards are as cherishing too!

 

supplement-store

 Partnering up with a gym
The second and most desirable method to carry out this business is to partner up
with a gym. For this, one needs to apply at various gyms for partnership.
When the partnership is accepted, the person is provided with a space adjacent
to the gym or in the gym where he/she can store and sell supplements. The
benefit of this method is that one doesn’t need to promote his/her shop and the
appropriate supplements can be easily sold to the target audience. Moreover, the
list of supplements to be stacked in the store is given by the gym. So, there is no
need to maintain a track of supplements which are sold easily and those which
aren’t.
Though, some members may require additional supplements as recommended by
the gym; for them the shop owner can personally take special orders. The only
disadvantage of this method is that one does not get the entire hold of their profit
and in addition to paying commission; some gym may also require the shop
owner to pay the rent as well as electricity bill of their shop’s area.

 Taking a franchise
Taking a franchise of the bigger supplement stores is also an option. The
requirements are same as of operating the shop but there is some ease in
business.
First of all, one should meet the requirements of the supplement business
company. This generally includes an investment and an area of land. The only
advantage of this is that all the care of the product manufacturers and distributors
is taken care by the company. The disadvantage is that the person has to give
some amount of the profit made to the company.