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Baqar Iftikhar

Baqar Iftikhar Naqvi  | Answer  |Ask -

Start-up Mentor - Answered on Jan 25, 2023

Baqar Iftikhar Naqvi is the founder and CEO of Upriver Ecommerce, an online sales accelerator firm and can guide entrepreneurs on how to make their firms grow.He holds a BTech in textile technology from the Central Textile Institute and has a master's degree in marketing and merchandising from the National Institute of Fashion Technology.He has 23 years of experience in the consumer products and retail industry.... more
Asked by Anonymous - Jan 25, 2023Hindi
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Career

Hello Sir I am a working professional and would like to start a small boutique in Mumbai. My investment would be around Rs 15 lakhs. What is the process to set up a small apparel shop? What people should I hire? Pls guide

Ans: Hi, You would need a tailor/ person who can measure and do fittings for the customer. Apart from that you may need 1-2 sales and billing people. In terms of processes, you need to detail what all key activities will be done at the store and define the standard processes for the same. Some important ones are - Store management- which includes store opening & closing, daily operations, customer management, billing, cash management etc. Also you need to have an inventory management and reconciliation process.
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Asked by Anonymous - Apr 11, 2024Hindi
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How to take retail business in readymade Garments on line step by step advice required
Ans: Starting an online retail business in ready-made garments can be an exciting venture. Here's a step-by-step guide to help you get started: You should begin by researching the online retail market for ready-made garments then identify your target audience, competitors, popular trends, and potential demand for your products. Use this information to refine your business idea and develop a unique selling proposition (USP). Outline your business objectives, target market, product range, pricing strategy, marketing plan, and financial projections in a comprehensive business plan. This will serve as a roadmap for your online retail venture and help you secure financing if needed. Register your business with the appropriate authorities and obtain any necessary licenses or permits to operate an online retail business. Ensure compliance with local regulations related to e-commerce, taxation, and consumer protection laws.

Source high-quality ready-made garments from reliable suppliers or manufacturers. Establish relationships with wholesalers, distributors, or fashion designers to ensure a consistent supply of inventory for your online store. Choose an e-commerce platform to host your online store. Popular options include Shopify, WooCommerce, BigCommerce etc. Select a platform that aligns with your budget, technical expertise, and customization needs. Design and develop your online store using the chosen e-commerce platform. Customize the website layout, colors, fonts, and navigation to create a visually appealing and user-friendly shopping experience for your customers. Ensure that your website is mobile-responsive for seamless browsing on smartphones and tablets. Create detailed product listings for each item in your inventory. Include high-quality images, accurate descriptions, sizing charts, and pricing information to help customers make informed purchasing decisions.

Organize your products into categories and subcategories for easy navigation. Set up secure payment processing for your online store by integrating payment gateways such as PayPal, Stripe, or Square. Offer multiple payment options to accommodate customer preferences and ensure a smooth checkout process. Determine your shipping strategy, including shipping rates, delivery methods, and shipping zones. Partner with reliable shipping carriers or fulfillment centers to handle order fulfillment, packaging, and shipping logistics. Provide tracking information to customers for order transparency and peace of mind. Develop a comprehensive marketing plan to attract customers to your online store. Utilize digital marketing channels such as social media, email marketing, search engine optimization (SEO), and pay-per-click (PPC) advertising to increase visibility and drive traffic to your website. Consider offering promotions, discounts, and loyalty programs to incentivize purchases and foster customer loyalty. Prioritize excellent customer service to build trust and credibility with your customers. Provide multiple channels for customer support, such as email, live chat, and phone support. Respond promptly to inquiries, address customer concerns, and strive to exceed customer expectations at every touchpoint. Monitor your website performance and track key metrics such as website traffic, conversion rates, and sales revenue using analytics tools like Google Analytics. Use this data to identify areas for improvement, optimize your website for better performance, and make data-driven decisions to grow your online retail business.

Launching and growing a successful online retail business in ready-made garments requires dedication, perseverance, and continuous innovation. Stay adaptable, keep up with industry trends, and always prioritize the needs and preferences of your customers to build a thriving online brand. Best of luck! Feel free to contact me on Rediff Gurus if you need further assistance or help.

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Insurance, Stocks, MF, PF Expert - Answered on Dec 03, 2024

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What happens when a Mutual Fund company shuts down / gets sold off?
Ans: Hello;

If a mutual fund company gets sold or fails, the process is prescribed by SEBI:

In case MF company is Sold,
The new fund house may:
1. Continue the scheme with a new name and management.

2. Merge the scheme with similar funds and offer investors the option to exit without any exit load.

In case MF company shuts down,
The fund house will:
1. Pay out investors based on the fund's last recorded Net Asset Value (NAV) and the number of units the investor holds, after deducting expenses.

2. If the company is not in a position to do so then SEBI may liquidate the funds assets and distribute the proceeds to unit holders.

It is also pertinent to note that mutual fund regulation in India is one of the most stringent and hence best, from investor's point of view, globally.

This is not just in theory. We have seen how the Franklin Templeton abrupt closure of debt funds was handled with surgical precision, by SEBI, with no loss to unitholders.


Skin in the game regulation mandates that 20% salary of key mutual fund personnel and fund managers is paid in terms of units of their funds with a 3 year lock-in.

The stocks and bonds purchased by the AMC for the fund are held by a custodian, appointed by the trust that administers the fund.

The trust engages into a investment management agreement with the AMC for managing the fund as per their mandate and within regulatory guidelines.

Registrar and Transfer Agents handle the investor registration,kyc, maintaining records, providing account and tax statements etc.

Happy Investing;
X: @mars_invest

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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