Rs 70 Lakh Yearly Profit In Grocery Biz — Reddit Post Sparks Heated Debate | Economy News
New Delhi: A Reddit user sparked a heated discussion on the social media platform after sharing a post that claimed that a small grocery store in his neighbourhood earns a profit of approximately Rs 70 lakh per year. The post shared on the StartUpIndia subreddit has since garnered several comments with many wondering whether the kirana shop’s huge profit is possible and others saying that one can make that kind of money.
Kirana stores are small local shops that sell household items. Residents in smaller cities and towns usually buy their household items from the local kirana stores.
‘The Reddit post on grocery store biz earning Rs 70 lakh profit’
In the Reddit post, the user said that a kirana shop in his locality makes Rs 70 lakh profit in a year. “So there is a kiranawala near my area. He has a almost 300 sqft shop. It’s a main road and he owns the shop. He sells all kind of household cooking material from rice, pulses and what not. His son and my cousin is a friend and he told that his father earns almost 70 lakh a profit in a year,” the post read.
“I initially used to think that kiranawala does not earn much because now everything is online like zepto and Instamart but I was wrong. Such small businesses are earning so much,” the person added.
‘Netizens react on Reddit post on grocery store biz earning Rs 70 lakh profit’
The post shared by the user has garnered several comments with many saying that earning that much money is unrealistic and others saying that it is quite possible.
“Not possible. 70 lakhs might be the amount of sales,” wrote one user.
“Possible buddy, i know a kirana store owner, his turnover is around 5 cr a year,” wrote another user.
“A kirana shop near my house has turn around 50 lakhs .. but shopkeeper opens shop 10 am exactly closes shop at 12. Goes to buy bulk veggies at 3am. I think these guys deserve it,” commented a user.
Another user said, “Even photo copy shops can earn a a lot. Especially if they are located nearto govt. buildings.”
“70 lac is easy , annually means close to 6 lacs a month margins are anywhere between 5-15 % plus location matters and convenience to people around !!” said another user.
One user said, “No bro. Impossible. Then everyone would move to this business right? It’s one without any entry barriers.”
“Obviously. I think everyone should do business before startup or entrepreneurship. I’m certain the total number of startups will fall drastically,” commented one user.
