Do you have a flair for supermarkets? do you want to Start A Profitable Supermarket Business? can you convince almost anyone to buy anything? then you might want to go into a big retailing business in a proper way.
Over time, it has been proven that retail stores or convenience stores are one business that can stand the test of time anywhere in the world. Certain products are major necessities of life by which men survive, just as food is a major necessity of life man can’t go without it, these products come in different forms, of such products you will agree with me that the sale of such product is sure to attract buyers thus making supermarket business a lucrative investment.
A supermarket is a large purchase store where goods and products of all kinds are sold. Are you employed, an employer, an employee looking to make extra money, or a job seeker, a graduate, or an investor looking for a profitable business to invest in? Do you have a passion for buying and retailing various products then I will compel you to invest in this lucrative business of supermarket stores?
Items to Sell in a SuperMarket
Supermarket stores sell every day (weekdays and weekends), it’s not a seasonal business, it sells not minding the economic status at that time(either positive or negative), it sells even when there is a strike, even when governments are yet to pay, imagine a supermarket that sells:
provisions, laundry products, cooking utensils, and spices, bakery products, wears, toiletries, makeups (for the ladies:- body cream, hair cream, sprays, body spray, eye pencils, lipsticks, etc) for the men (spray, perfumes, creams, etc), etc and you have a meeting and you need to look good, but you discover you don’t have a starch( laundry product) your toothpaste have just finished, and so is your spray among other things, the solution I know will be to storm the nearby supermarket to get those things.
Who Can Start a Supermarket Business
Anyone can start this business. Now as a mother, it’s visiting day and you need to go visit your ward in school, you need to buy provisions. Now you’re not the only one living in that neighborhood thousands are and all need either a product or one of the entire products in the supermarket as it’s of necessity.
Starting this business is not as easy as it sounds. To be very candid, no business is easy to start. A lot of businesses need good management skills, good capital, planning, strategizing, location, and so on. One of the advantages of this business is, you can actually sell it to investors later on and make a profitable gain from it– if you are able to grow it into a successful venture.
Let’s now quickly see what you must do to get started on owning a supermarket business.
How Much Does Supermarket Make Every Day?
No doubt the profit in some goods is N5, some N30, and some N500, now the number of people that bought from the supermarket is 500 that day.
For just one goods/product say that with profit margin of N5, i.e. 5*500= N2500, for that of N30, i.e. 30*500= 15,000 for that of 500, i.e. 500*500= 250,000 that day.
Summation will be 2500+15,000+250,000=267,500 perday.
This is just a rough sketch as it is not only three goods in stock. I want you to see how lucrative this business is. It has been proven over and over again that supermarkets or convenience stores are and had remained one of the businesses that are 100% sure to survive in any town, city, state, country, or continent in fact in any part of the world provided that people live and commune that geographical area.
Starting up a business is not that easy but with the right information one is sure to attain success and of such business is the business of supermarket stores. A startup can be a mini scale, or large scale depending on capital but whichever scale profit is guaranteed. In this article, we won’t just discuss how lucrative it is to start up a supermarket business but will also discuss the steps required to start-up and attain success.
How To Start A Profitable Supermarket Business
1. CARRY OUT A MARKET SURVEY
Firstly, to Start A Profitable Supermarket Business you have to get all information there is. it will be in your best interest to first carry out a market survey. The market survey will ensure that you know vital areas concerning the business. Things like, your competitors, suitable location to site the supermarket, will also ensure that you get familiar with all the products that are in demand in the marketplace.
2. GET A BUSINESS PLAN
A business plan is like the blue-chip in a business, a valuable asset in any business. As long as you want to go into a serious business, you need to get a business plan because through your business plan, you will be able to decide how to run your business in an effective and efficient way. Your market survey also can serve as a supporting unit to guide you along when writing your business plan.
3. RENT A SPACIOUS PROPERTY
Before renting any property, there are certain factors that you need to consider. Like, space, price, location – it is important that you site your supermarket in a busy area people can easily access and also in a place where it is little or no competition in the same line of business. Read Also: How to Start a Cosmetics Retail Business
4. OBTAIN A BUSINESS LICENSE
Right from the start, it is wise to legalize your supermarket business and this can only be done by having it register under a sole proprietorship or a partnership with the relevant government agencies. When you are able to secure your business licenses, you can then get your Tax identification card and open a business account to operate fully as a legal entity.
5. FIND SUPPLIERS
In this stage, you would need to find and get in contact with the manufacturers of the different kinds of beverages you will be selling in your supermarket. It is better to get direct supplies from manufacturers or even wholesalers, that way you can easily sell at very affordable prices to customers.
6. HIRE DEDICATED WORKERS
This kind of business is not a business that can be run by one person, you need to employ at least one or two persons to help you run it. When hiring, make sure he or she is honest and will be dedicated to the business. So basically for a start, you will need to hire a cashier and a sales representative for your supermarket business. supermarket
7. INSTALL MODERN PAYMENT SYSTEM
We are in the 21st century, so you need to fully equip your business to today’s standard of operation. Get an automated machine and a POS
(point of sale) machine for non-cash payments. Having these machines will ensure smooth payment transactions and also ensure proper recording of sales.
8. ADVERTISE YOUR SUPERMARKET
Once you have everything in place, the next thing to do is to start creating awareness for your supermarket. Start by advertising in the local television station in your town, radio station as well, and other media outlets. You can also print and distribute fliers to people within and outside your business location. There you have it. All eight steps to follow properly and begin that journey to financial freedom.
GET A BUSINESS PLAN/ FEASIBILITY REPORT
The importance of a business plan can never be overemphasized as it exposes the entire possible lope hole, how to avoid them also including feasibility reports. I have right from the beginning made our loyal readers understand its importance for no matter the business you want to invest into, so far its call a business you emphatically need a business plan to effectively start-up and management if success is required. A good business plan contributes to 70% of the success of a business so a business plan can either say success or the opposite.
Take your time now to write a comprehensive business plan/feasibility report on how to Start A Profitable Supermarket Business covering all areas necessary, the business plan should be self-explanatory, realistic, and achievable. Perhaps you don’t know how to go about it well you can also get a detailed business plan and feasibility report of the supermarket business in Nigeria prepared to buy our team of experts and researchers. This business plan is prepared based on current research, consultation, and market surveys. This eBook will be made available to you in an eBook format (pdf) which can be sent to you via email. The eBook discusses the necessary information as:-
- How to start (first thing first)
- Capital requirement (for mini scale and large scale).
- How to choose the appropriate location (things to consider before settling for a particular place)
- The hiring of employees( how to employee workers)
- Sourcing for goods (how to get what you will sell) suggested suppliers included.
- How to market your business
- List of commodities and products to sell (all of them)
- Shelves ( how to arrange and organize shelves)
- Required machines ( installation of machines for cashiers)
- How to educate your employees for effective work
- Feasibility report
- Conclusion and licensing.
Read Also: How to Start a Profitable Cybercafe Business
All this and many more are address in the eBook with other information needed to help you start A Profitable Supermarket Business and attain success is contained therein.
Remember you are not the only one reading this so not the only one interested in starting up this business so act now and save yourself the stress of regrets in the future when you see how successful those that read this article with you have become. To get experts compiled eBook containing all the information required to get you started ORDER NOW contact us
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