Kitchen accessories business in India business plan

by varun · Published October 19, 2020 · Updated December 24, 2021

India has come a long way from a traditional kitchen in the past to modern modular kitchens. With changing lifestyles and increasing disposable income, kitchen accessories business offers a lucrative opportunity for a first time entrepreneur. Kitchen accessories business is expected to grow at a CAGR of 21% per annum for next 5-10 years. in this article we would look into salient points related to this business. It is very important to know what works and what doesn’t works for kitchen accessories business in India. Let us have a detailed look –

Changing lifestyle – People are becoming more aspirational in recent times. An aesthetic kitchen has got aspirational value in modern home decoration. It has generated a new stream of revenue for this industry in India. Realty shows like master chef has also added to the latent demand for a great kitchen. Recently, Men have also taken large interest in cooking especially in metro cities.

On demand video – On demand videos websites like YouTube have also added to the same trend in a massive way. Now, one can easily follows his or her famous chef on YouTube and learn recipes of popular and exotic dishes on the go. Usually, these videos are made in modern kitchens with all the facilities. People watching these videos also get influenced and this creates another opportunity for a kitchen appliances business in India.

Quality – Anything that goes inside a kitchen must have a highest quality. It could be vegetables. flour or a kitchen accessories. A business involved in kitchen appliances should always vow to maintain a highest quality in its products. With ever improving technology in modern times, it is imperative for a kitchen accessories business to refresh its products on time to time basis.

Financial requirements for a kitchen accessories business in India

Let us have a look into financial requirements for starting this business-

Space – An ideal space for setting up this business would depend on business activity and output planned. But, a first time entrepreneur can eastly start a kitchen accessories business from a 200-300 Sq ft space.

Stock – This business can easily be started by having a stock of 5-10 Lakhs initially.

Other operational expenses – This would include expenses in manpower, electricity and furniture. A decent size business would require at least 2-3 manpower to take care of the business. Furnishing also needs to be of highest quality to attract maximum eye balls.

Kitchen accessories business requires two things to be ticked off for it to be successful. These are location and variety. If a store is located at an accessible location and product variety is good then no one can stop it from attracting customers. Good inter personal and sales skills would add to overall offering by a store.

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