How To Become A Seller At Myntra?
Starting your own business can be a task these days especially in the retail business. It is often the case that you don’t get the price you deserve. Sometimes the sales are not much for you to earn profits. Apart from this, you have to pay the setup cost, employee cost, store designing cost. Even before you begin, you feel burdened due to huge expenses. To get out of this whirlpool, selling on e-commerce portal is the best thing.
The experience of selling on e-commerce varies from portal to portal. Before making up your mind about any particular e-commerce, you need to check the eligibility. Every portal has different criteria for allowing sellers to sell on the portal.
What is Myntra?
Myntra is a high-end e-commerce portal selling a wide range of products like men’s wear, women’s wear, lifestyle products, home decor products, and other product categories. Myntra is a hub of major fashion brands selling their products slightly cheaper than what’s available in the market. It was started by Mukesh Bansal, Ashutosh Lalwani, and Vineet Saxena and the headquarter of this e-commerce giant is located in Banglore, Karnataka.
Myntra operates on a ‘Business to customer’ marketplace model. It basically means that it allows different business houses to operate within its portal. It allows various sellers to sell their products on its portal thus providing customers with numerous options. Myntra provides a platform for over 2,500 brands and houses over 5 lakh product.
Why Myntra is a suitable platform for sellers?
Myntra is suitable for sellers because it has flexible policies and extends a lot of benefits to the sellers. Mentioned below are the advantages Myntra gives to its sellers:
- Old inventory: you can sell your unsold stock on Myntra till it abides by the rules and regulations of Myntra.
- Minimum Returns: even if your sales are low, you will get your minimum returns as guaranteed by the Myntra.
- Negligible setup cost: overhead costs are minimal. You are not liable to pay to rent/land cost, store setup cost, employee cost, and other costs related to running a physical store while selling at Myntra.
- Extended reach: Myntra has millions of users across the country. So, if you are planning to sell your products at Myntra, you will have access to Myntra’s consumer base which probably will increase your sales.
- Complete autonomy: once you register yourself as a ‘seller’ on Myntra, you will have complete control over your product. You will be allowed to manage sales, your online store, your product catalogue, quantity and quality of your product.
- Fashion advice: once you are registered as a seller at Myntra, you have access to fashion trendsetters. These trendsetters help you with the design of your product. They help you balance your products by curating them according to the ongoing trends.
- Advertising and Marketing: as a seller, you are just supposed to sell your products and maintain quality. Myntra takes care of the social campaigning and marketing of your product. It also provides an in-depth analysis of the consumer behaviour and choices which helps in improving sales.
- A secure portal: you will be asked for your aadhaar number and PAN card to verify you as a seller. This to keep fraudulent sellers away from the e-commerce portal.
A step-by-step guide on how to become a seller at Myntra
To become a seller at Myntra, follow the steps given:
- First, you need to register yourself as a seller on Myntra. To do so, click on the link mentioned below:
You will see a screen similar to this on your computer screen-
- Click on ‘Register now’ option. It will lead you to the seller registration form. However, due to a large number of applications, they are not accepting applications currently. This service is down temporarily. Keeping check this portal for the latest updates.
- Fill the ‘seller registration form’ and submit it. Myntra will review your form, and if approved you will be moved to the second step.
- On the second step, you are liable to register your business legally. No individual sellers will be allowed to sell on Myntra. You should have registered business entity to be able to sell on Myntra.
- You can classify your business under three different legal entities i.e.-
- Private Limited Company
- Sole Proprietorship Firm
- Limited Liability Partnership
- Once you have registered your business as one of the above mentioned legal entities, it is time to provide some documents. You need to provide Myntra with the following documents:
- Your Tax Payer Identity (TIN)
- PAN card of your business entity
- Your current bank account with name and branch
- IFSC code of the branch
- ank account number
- Name of the account number
- Once Myntra, verifies all your documents, you will be registered as a seller and you can start selling your product.
- Make an online catalogue, list your products along with the prices, shipping charges and discounts if you are willing to give any.
- Once you have made all information live, buyers will be able to browse your products and buy accordingly.
- Check for the orders on your ‘seller dashboard’. Make your product available. Myntra has the responsibility to pick your product, pack it and deliver at the mentioned address.
Note: The rate of commission is decided by Myntra. It usually falls in the bracket of 45 to 50%. Myntra has the right to reject your product if it is defected or has a dent.
Payment and profit policy:
Myntra usually takes 10-15 days to compute your payments. The amount will be credited to your bank account which is registered with Myntra. Before crediting the amount, Myntra will deduct its commission and other liable charges.
After reading the blog, if you feel satisfied and convinced, then delay not and register yourself as a seller at Myntra and step towards making India beautiful every day.
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