Online Business is Doing a Lot of Harm to Retail Business

Like Mine – Says Amit Shah, Owner of Optical Shops in

Mumbai
JULY 23, 2018

Insights
1. Unlike what is commonly thought, running a retail business can provide good
work-life balance and excitement. It all depends on your attitude.
 2. It is easy to start in this profession if you are from a business family or taking over a
family-run business. However, if you’re establishing something of your own, I
strongly recommend that you work for another business for some time.
3. If you want a challenge in the retail business, establish two very different businesses
(shops). That will help you diversify your risks as well as keep you challenged.
4. The online business is killing businesses like ours by undercutting prices. This is not
sustainable for them; however, they have got millions of dollars to spend,
somewhere!
5. I’m not overburdened by my work even though I run 5 businesses. I handle those
businesses during my time at the shop itself.

Personal Details
Name – Amit Shah
Profession – Owner of “Vintrex Optics”, Mumbai
Gender – Male
Age – 52 years
City – Mumbai
Industry – Retail Business (Optical)

Where were you born and raised?

I was born and raised in Mumbai. I completed my schooling, pursued higher education and
established a career in this city itself. I was born into a joint family. My father was a
chartered accountant and my mother, a homemaker.

Who would you say, had a remarkable influence on you growing

up and how?
Growing up, I’d say my mother had a pre-eminent influence on me. She helped me realize
my dreams and pushed me to strive for them. She always saw me as a businessman, and
here I am, now!
Please give us a summary of your career.
I’ve always been self-employed. About 33 years ago, I established a business called
“​Vintrex Optics​”, a spectacle shop. This retail business now serves as a foundation for the
other business that I’ve started up in the recent years.
Even though this is my principal focus, I’ve set-up 4–5 companies that each specializes in
umpteen things like construction, reinsurance, exports & imports, etc.

Which institutes, according to you, are the best for pursuing this
career?
So, opticians/ businessmen don’t really have to study anything in particular.
I pursued ​B.Com​., a three-year course, and set up this business consequently. You can
also pursue your ​B.B.A​/​B.M.S​ since these courses familiarise you with the basics of
business.

What is the expenditure associated with the education/training of

this profession, approximately?
If you’re pursuing your ​B.Com/B.BA/B.M.S​, you’ll incur an expenditure of about 1–3 lakhs
INR collectively, depending on the college you’re attending and the course you’re opting for.

How does one manage to enter this field?

Honestly, if you come from a family that has its roots in this business, it becomes easy to
start working in this field.
However, if you’re establishing something of your own, it’s imperative to start working with
another business, at least for a while. This is an important learning process that helps you
understand the business. Once you’ve got the hang of it, you can go ahead and set up
something of your own.

What is the range of remuneration one can expect when starting

out his own retail business?
When starting out, one can expect to earn INR 30,000–40,000 per month. That is
approximately INR 3–4 lakhs per annum.
As time goes by, one should be able to increase their income by 10–15% every year. That
is, by 50% every five years. This should be their goal.

Describe your work, please.

I reach my shop at about 10 in the morning. I supervise the working of the business, check
if my employees are doing what’s expected of them, handle customers, etc.
Like I mentioned before, I’ve set up different businesses, so I usually attend to that work in
the office, too.
I spend about 10–12 hours at my shop and work from Monday to Saturday.
This sums up my everyday regime.

In your opinion, what are some benefits that would encourage an

individual to start a retail business?
1. Family time isn’t an issue. I spend quality time with them on weekends.
2. I’m not overburdened by my work even though I’ve got 4–5 businesses to look after.
So, it’s really a person’s attitude towards their work, you could say.
3. I sort out a lot of my other responsibilities during my time at the shop itself.
4. The optical business of mine is a base for other business opportunities, hence the
existence of my other companies.

Can you mention a few challenges that you would want someone
to be aware of if they’re considering to start a retail business?
1. Today, the online market is doing a lot of harm to our retail business because their
reach and prices are very competitive. They have a wider reach which puts
businesses like ours in a difficult position.
2. You need to come up with innovative ideas to compete and attract customers,
especially if you are just starting out.
 3. You need to keep your equipment (optician) updated and constantly be on the
lookout for better marketing opportunities.

What are some relevant trends/skills/technologies that are

currently commanding a premium in your job profile?
You ought to possess marketing and communication skills in a business like this. Your
customers should be your priority. They determine the success of your business at the end
of the day.
Your skills are within you. Manifest it.

What kind of a person, do you think, would be content in this

field?
I think you should be able to understand your temperament, as I implied above. It’s all about
your communication skills, really. Be patient, persistent and don’t lose your temper. It’ll
scare away and disappoint potential clients and customers.

Given another choice, what would you do differently as far as

your professional selections are concerned?
No, I’m extremely content with my professional selections. I’m passionate about my
business. Also, I have my other businesses, each specializing in different fields; hence, life
never gets monotonous.
I plan on continuing this business of mine for a long time.

What advice would you offer to students or professionals who

are just starting their journey on a path similar to yours?
Where there’s honesty, there’s success. If you start indulging in unethical ways of making
money, you might not only harm your business but yourself as a whole. Hence, be honest,
have faith and remain transparent. You will surely thrive.

Contributing Writer - ​Urvi Shah

Liked this article? You may also like to check out ​our conversation with
Prakash Patel​ (Owner of a garment shop in Mumbai)

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