How To Start A Supermarket Business In Nigeria
It is no longer a secret that you need a business plan for a supermarket or a well written feasibility study that is up to date like our 2019 supermarket business plan PDF/Doc. In a country like Nigeria where you have loads of people willing to buy what you have to sell as long as it is affordable, you will have buyers to patronise you.
In our previous post on supermarket business, we outlined that for any business to be successful in Nigeria, you at least need to make adequate plans. This plan will help you in setting up this business. You also get to know your target customers, you can as well device a means where you get to retain your customers at all times.
When planning on how to start a supermarket business in Nigeria, the first thing you should know is that the supermarket business is a customer based service, it deals more on customer service than another other type of customer engagement. And adequately preparing for this will get you closer to your target goal.
A search for supermarket business on nairaland, you get to see a collection of adverts on how to start a supermarket business in Nigeria. Know this; preparation is paramount in this line of business, not just supermarket business only, but any other type of business venture. Since money will be invested into this, the idea is to make appropriate plans and afterwards, go ahead in by putting what you have written into action.
A supermarket business plan in Nigeria will help you to know the appropriate steps to take in order to attract as well as retain customers who patronise your. With the business plan, you also stand a chance of attracting investors who may be willing to invest or partner with you in your business, this will of cause be an avenue for growth.
At the end of the day, a supermarket business plan in Nigeria is all you need to get your business going, our focus has been on how to start a supermarket business in Nigeria, in continuation we will review a few things we think you will need for business to thrive.
How To Start A Supermarket Business In Nigeria
How do you start your own supermarket business today? Here are questions Nigerians are asking and below are a few things you should put into your business plan;
- Have a picture of mini/supermarket in Nigeria should be – You can only achieve this by visiting other mini or small supermarket around your vicinity. In our business plan, there is a portion where we talked about knowing your competition. This will actually help you to understand as well as know the things you should be doing. Know how to set up etc.
- Have a mini supermarket product & price list – Here is another item you need to add to your business plan, having a pricelist that is not so different from other supermarket will help you keep your customers, especially those customers who like to compare price and product list. I have a friend who practically does this, he will first of all check Eastern shop, then he’ll drive to Roban stores and see if the prices match, when not satisfied, he’ll head to either Ogbete Main market or ShopRite for the price of the same item. Maybe you don’t know, people actually have time for these things.
- How much You will need to start a provision store – This is purely dependent on your ability and also the capital at hand. The fund at your disposal is the only factor that can decide for you the size of your shop, some started with N50,000, other N100,000, there are those whose start up capital is N1,000,000 and other 5,000,000. You cannot compare the stock in a supermarket of N5,000,000 with any of the other supermarket that started with N50,000, N100,000, N1,000,000.
Most times the profitability of a business is dependent on the capital invested and also on how the business has been managed so far.
Factors To Look Out When Starting Your Supermarket
If you want to know how profitable provision store is, you at least need to know those factor that can help you grow the business into a profitable venture, here are a few of them below;
- Location
- Shop space
- Rent
- Warehouse etc
In conclusion, a business plan helps to seek measures on how you can start your Supermarket Business In Nigeria and also as started in our previous post, it can also be used get investors into investing into your business venture, since they will be seeing your financial projection and a detail on Nigeria how your business growth has be planned.
To get the full manual go to the post on Supermarket Business Plan In Nigeria PDF Feasibility Study.
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