License and registration for opening a gift store

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Buy items for the gift store
You should bring all the products for your gift store from big cities because there you get all the gift products at very cheap prices.

In every city, there is a special place which is very famous for buying such gifts from where such things can be bought at cheap prices like Chandni Chowk Bazaar, Sadar Bazaar in Delhi, Chowk Bazaar in Prayagraj in Uttar Pradesh, Craft Bazaar in Mumbai. If you buy these products from such places, you get them at a very good price, due to which you get more margin by selling them.

However, if you want, you can also order these products online. Apart from all this, you can contact any wholesaler and order them. Buying these items in bulk is cheaper.

Cost to open a gift store
If you want to start a gift store business on a small scale, then you can start this business with a capital of up to one lakh which includes rent of your shop, gift items worth 50 to 60 thousand, marketing of your business etc. However, if you want to open a gift store on a large scale, then you will also need more space for it.

If you take the place yourself, then it can cost you bahamas whatsapp data 5 to 6 lakhs where you will also have to get some interior designing done for the shop. Apart from this, when you start the business on a large scale, you also have to hire one or two employees to manage it well.

In such a situation, it can cost 9 to 10 lakh rupees to open a gift store on a large scale, whereas on a small scale you can start it with very little investment. However, if your investment is less, then to collect funds, you can take advantage of the scheme run by the government and take a loan from the bank.

When you open your gift store on a small scale, you do not need any license or permission for it, but if your annual income is more than 9 lakhs, then you will have to get GST registration.

Apart from this, you can know about the required license from your local authority as different states have different rules. Also, you should register your business under MSME so that you can easily avail the benefits of government schemes.

Also read: How to earn money by renting out your house?

Packaging Arrangements in Gift Store Business
When you open a gift store, you will also have to arrange for packaging because people often get the gift packed along with buying it. In such a situation, if you want, you can charge separately for packaging. But you will have to do the packaging well and attractively because most customers pay a lot of attention to the packaging of the product.