LoPryZ, a SEN initiative, is a chain of small stores targeted to reach the home buyers. LoPryZ strores will eventually have most products that are available in a typical middle class super market with one major difference. These products are packed small and have a low price tag. LoPryZ differs from the regular kirana store as it only sells packed products, nothing loose. LoPryZ is offered in 3 segments to enable the connectivity and market linkages between farmer producers, cottage industries and small scale manufacturers and the end consumers. These are:
LoPryZ Home stores are the point of direct connect with the home/ family buyers and take the form of LoPryZ Home-mini – Small commercial store: A small room, can house a great variety of products, allowing people to pick and choose, just like a super market. A branded store – sharing the LoPryZ customer trust. Reaching to a minimum of 1000 families or more.
LoPryZ Home-micro – Verandah store: Your balcony outside your house can be converted into a store and an income generator. A branded store attached to the nearest LoPryZ mini store with a customer base of 100-200 families.
LoPryZ Home-nano – Bandi store – A market on the move. A designed trolley with a whole lot of products. Take the market to where the customer is. Can reach upto 500 families or more.
LoPryZ Ecosystem – All LoPryZ products are safely and hygienically packed and selected to be of good quality. The stores are run by carefully selected individuals as a livelihood mechanism. These stores have a valid registration at the LoPryZ website and can place orders. The ordered items are delivered directly or to the nearest LoPryZ mini store.
LoPryZ Enablers understands that the small entrepreneur will need hand-holding and support. A series of training programs have been organized and are available for registered mentors to download and use. LoPryZ appoints mentors as follows:
Individual mentors: Usually graduate women or a retired government employee.
Institutional mentors: NGOs, whether societies or trusts.
These mentors guide the small entrepreneur in
- Teach the basic principles of retailing.
- Using technology to place orders and manage inventory.
- Review accounting, so they are not short-changed.
- Ensuring customer retention.
- How to grow their business
- Living life and doing business with dignity
- Inventory control
Train the trainer, programs are available and it is recommended that mentors guide the small entrepreneur in a team rather than individually. This is ideal to mentor through an SHG empowered woman member.
LoPryZ believes that mentoring is critical to the success of these small entrepreneurs and the mentors receive incentives through a revenue share. This also encourages mentors to get returns for their time invested and instills a sense of responsibility. Some mentors choose to reinvest their earnings as a Sponsor.
LoPryZ also invites sponsors for working with mentors and small entrepreneurs. The sponsorship is in the form of an interest free loan to the small entrepreneur which is rotated. The amounts can vary from Rs 5,000 to Rs 50,000. While it is important to the small entrepreneur to get support to get started, but not a donation, without responsibility.
- One store Sponsor – Rs.5,000
- Two store Sponsor – Rs.10,000
- Five store Sponsor – Rs 25,000
- One Bandi Sponsor – Rs.8,000
- Mini store Sponsor – Rs.50,000
The sponsors will get an annual update as to the small entrepreneurs and how they are faring. LoPryZ encourages Sponsors to spend time with their small entrepreneurs and mentors and buy some of their needs from these stores to motivate these store owners. LoPryZ through SEN also helps small entrepreneurs to avail of loans from public sector banks along with guidance how to manage the cost of funds in a responsible manner. This is done on a case-by-case basis.