Multi-brand retail outlet concept lifting up feminine entrepreneurs
It has been a lot more than 8 weeks since Evana Nasrin has opened an store named Mokam in a good shopping centre in Dhanmondi.
The 150-square-foot shop houses women's clothes, sarees, kurtas, jewellery, cosmetics and some food products. The items happen to be showcased in a manner that apparently gives a concept to a shopper that all the products are possessed by the store operator.
A curious look inside the store on the other hand tells a different story. The store, Mokam, has three makes owned by three females entrepreneurs.
They are available their products in a common space disregarding competition for customers' attention -- a relatively new phenomenon in the capital where commercial space is too expensive to bear for most small businesses and start-ups.
"This is good for small entrepreneurs like us. By sharing space, we are able to display our products and brands without the high expenditure had a need to open a store," explained Nasrin, owner of Evana's Crafts, among the three brands at Mokam at Anam Rangs Plaza at Dhanmondi, Dhaka.
It all started almost a year ago, when Nasrin found the right space to showcase her goods for further her organization.
But the monthly rent of Tk 50,000 was beyond her means. She approached two other women entrepreneurs to share the area and the expenses and they jumped in.
Today, the three share charges for the store predicated on the ratio of space they make use of.
"We, the tiny entrepreneurs, don't have enormous capital and opening a store requires a lot of investment that the majority of us cannot afford," said Shabnam Rose, owner of Shokher Gudam, another company that has shown sarees and hand-built jewellery in the space.
The prices of every square foot of commercial spaces are almost double that of residential spaces in lots of areas in the densely populated Dhaka, said a Farhaduzzaman, marketing in- charge of Eastern Housing.
A senior official of another realtor said the prices of commercial space begin from Tk 10,000 and go up to Tk 100,000 each square foot according to location.
"When we show space, it reduces our expense and risks. Everything becomes affordable for us," Rose said.
Irin Hoque Ivy, leader of a multi-brand shop Kayara, said it requires Tk 15-20 lakh to open a store in relatively popular looking areas in Dhaka in fact it is extremely hard for young business owners to arrange the capital.
Through her five outposts of Kayara, nearly 100 women entrepreneurs are displaying their goods, mostly clothing, jewellery, cosmetics and bags, on payment of lease, service charge for the space and other costs.
Sales persons sell items of all business owners, marking brands in sales receipts to keep records, and arises from sales are actually credited to the accounts of business owners towards the end of the month, she said.
Ivy signed up for this sort of store in 2016 in the capital's upmarket Banani neighbourhood with the administrative centre she got from her family group.
Some 22 women manner designers, including Ivy, put up their goods for display in the retail outlet under their respective brands.
Today, Kayara possesses five showrooms: four found in Dhaka and one found in Chattogram.
"That is a win-gain for both folks," said Ivy, who offers space to small entrepreneurs.
She said several women entrepreneurs who started with Kayara have gone to open their own stores later.
Anyone with the opportunity to make 40-50 clothing things can begin join a multi-brand retail outlet.
"The more multi-brand retailers there are, the extra the ladies entrepreneurs will be benefited," she stated, while calling for easier bank loans for female entrepreneurs.
Many women entrepreneurs are becoming loan defaulters for the substantial cost to do business, said Fahmida Khatun, executive director of Centre for Policy Dialogue.
Multi-brand stores may reduce the cost of business and enable many women entrepreneurs to achieve success as such store will help them compete and marketplace their products better on a competitive environment.
"This is best for customers too because they get yourself a number of makes in one store."
The government has a lot of territory and it can offer space to women entrepreneurs in groups at nominal rates, Khatun said.
Hasina Newaaz, vice-president of the Federation of Bangladesh Chambers of Commerce and Sector, demanded the government set up a market found in each district in order that women entrepreneurs may showcase their products.
Both Evana and Rose said Mokam has up to now been best for their business.
"The responses that we have seen have been beyond our targets. We did not have to inject money to bear the expenses of our store because the evening we opened," Evana stated.
Rose said she actually is reinvesting the proceeds of revenue to expanding her organization.
She said in addition they industry their products online.
"But physical occurrence of a store is usually very important to growth as only a certain community can be reached through internet marketing," Rose said.
Evana, who in addition has put her brand found in another multi-brand store in Rifles Square in Dhaka under the same strategy, said she programs to open even more branches of Mokam as space-sharing with other reduces her cost even though enabling her to expand her organization.
