Supermarket (Grocery Store) Business

It is a well known fact that preparation is paramount in any venture one wants to get into and supermarket business is not left out of it.So if you make the appropriate plans and put them into action your supermarket business is sure to thrive, you will attract and retain your customers and get investors to invest in your business and your business will keep growing and growing, and of course no one says no to growth.

Bottom line is you need to have a business plan. The business plan will help you put everything in check and will give you a firm grip on what you are getting into and how to go about it. It is also needed for when you have to convince investors to invest in your business by showing how profitable it can be in a detailed form through your business plan. It can also be used for acquiring loans so you see it is really an importance piece of the puzzle.

1. Create a title page. This is very normal with most documents as that is what will give someone who just takes a first glance at the document an idea of what it is about.  This page has to be concise and straight to the point and does not require any decorations or embellishments. You may add a delicate frame if you must use a frame but it is really not necessary, the main purpose of this page is to make someone who takes a first glance at it to have an idea about the contents of the document.  On this page, what you have to put down are the name of the business or company, your name, and your contact details. Whether you will add another person’s name to this page or not depends on those who you want to give copies of the business plan to.  If you are giving copies to just those who are also involved in the business then there might not be any need to include their names. However, if you are writing the business plan to be given to companies or their representatives or investors who you are trying to get to invest in the enterprise then you need to put their details on the cover page preferably at the bottom of the page.

2. You have to show an overview of the business. You should not assume that investors or business partners are aware of everything that is required or everything that needs to be done for the business to thrive.  In fact you have to assume that they have no idea whatsoever on what is involved and provide an elaborate and detailed information about the nature and workings of the business venture.  You might be very surprised at the clarity you will provide a lot of people who you thought knew everything that had to be known about the business venture. Making an overview this way will also go a long way in convincing investors to invest in your business because it shows that you have really done your research and that you are very sure as well as confident about the success of the business. Investors really love this because it gives them a sort of guarantee that they are not wasting their money on a fruitless venture.  When you are done with the overview of the business then you start explaining your ideas and what you are bringing to the table that will guarantee success. Explain how you intend to deal with competition and what you’ll use as an edge over them (the competition).  Also explain your projections or how you see the venture growing and if you intend to open up branches in the long run explain how to intend to achieve this.  Do not leave any stone un-turned, put all your cards on the table because the more convinced the investors are, the better for you and your business venture. You will also need to explain how you intend to attract and keep customers and how to make sure the number of customers keep increasing all the while making enough profit, hitting the target and not going deficient.

3. After the overview you’ll then need to create a marketing analysis. You might ask is that not the overview is about? but here you are going a step further.  Like we said all your cards has to be on the table because you are trying to convince whoever you are taking the business plan to, to believe beyond reasonable doubt that your business idea is fail proof.  In the marketing analysis you are to create, you have to go into the details of why you believe that what you are offering the public will be in a very high demand and how the services you will provide will make your brand almost if not irresistible to your customer base. As you know a lot of factors can influence this so you have to explain how you plan on making the different market factors work in your favour. For example,  you can handle this by explaining why you chose the location and how it is a strategic move to ensure that you have visibility and accessibility. Then you talk about the population of the area to show that you are planning on catering for a large number of people which means a very large customer base. After this then you discuss on why you are very sure that the people that is the population in the area will not see your establishment as just another fixture but a place where they can go to and get what they need either for personal use, home use or office use. You also have to explain that the products you are selling are also what they will always come back for as what they are purchasing are things for daily use which means that the customers will always frequent your establishment and if you are able to attract them (the customers)  and keeping them then of course your business venture is sure to succeed.

4. Next is a marketing plan. It is very obvious that supermarkets are majored on sales so you need to make it clear that you understand all there is to understand when it comes to marketing and sales and that you have all it takes to make sure that the sales do not diminish in any way. Here you should talk about how you intend to make your customers very happy with you and your establishment so much so that they will feel like they are betraying you or doing you a great disservice if they do not patronise you.  You might feel like we are talking so much about customer base but the truth is that they are a major determinant to the issue of whether your business will thrive or not.  After all you are not building a supermarket for your family members alone. In this stage you have to establish again that indeed situating your business venture in the place where you are situating it will not just be seen as a decoration by the populace of that area but rather they will see it as an establishment that has been situated to meet their needs.  Now don’t just stop there proceed to talk about how you intend to make them stay and how you plan on rewarding loyal customers. A loyalty card is a very good idea, and a system of discounts to old and new customers is also a very good idea. You also need to talk about how to handle pricing.  This is a very touchy subject as customers would want to have things cheaper and the owner of the business will want to maximise profit.  So you have to make your prices low enough to satisfy the customers and at the same time enough to give you profits.  How do you intend to achieve this, include this in your write up.  We earlier gave a suggestion on how this can be achieved and that is by you making your purchases in bulk and buying from manufacturers or wholesalers.  That way you buy them at cheap prices so when you fix your retail price it will not be so high for your customers and at the same time you will be making your profit. Cool right?  Bottom line is make sure that your customers are always very happy and satisfied with you.  Now you cannot have ideas on how to achieve this and not put it down in the business plan or not explain properly how it would work and expect your investors or whoever you are trying to convince to be a part of the business to understand what you are capable of. How is that possible, telepathy? Make sure your plans are very plain for all to see and comprehend. Least we forget, you also have to point out if you will be into retail and wholesale at the same time or one of them. More so, advertising is very important for the growth of every business.  You have to make sure that your business is engrained in as much people’s minds as possible. So you have to talk on how you plan to go about advertising and the mode of advertising that you feel will best get to your target market and why you believe so.

5. No man is an Island and you cannot pull off something of this magnitude all by yourself. You cannot be accepting payment,  bagging the purchases, issuing receipts, acting as security, cleaning, supervising and offering clarifications to customers who need them all by yourself. You need staff and the character and disposition of your employees to your customers goes a long way to say if they will return or not. So you have to be careful when hiring employees.  You have to make sure that they have proper orientation and training so that there can be a smooth running of the business venture.  So you have to show that you’ve got all these figured out.  Even members of your team that will not be in the supermarket everyday such as auditors, lawyers and other professionals has to know your beliefs and stand when it comes to your business. You also have to make sure that these professionals are really qualified and will not be a liability to the business.  You also need to put this down in detail that is how many professionals you have, their qualifications and how you intend to go about their remuneration, the number of your normal daily staff that will see to the day to day activities of your business and how much you’ll be paying them.

6. Next you have to create an operating plan. Here you will need to explain in detail, not missing any step or stage on how you will be transporting the goods from the people you are purchasing them from to your super market. All the equipment necessary for this must be mentioned, even how you preserve or store goods until they are needed or the ones displayed has depleted and needs to be replaced. You will also have to write down all the apparatus necessary to ensure that the goods are in their best until they get into the hands of the consumers. What we are talking about are things like refrigerators, deep freezers, aquariums for live fish, warehouses, and so on.  Now is not just the necessities to keep the goods in good condition but also the means of running them so you have to include generator, electricity bills,  gas etc.  All these cost money so they have to be written down so that the investors will have a clear view of what is involved.

7. Finally,  you have to create a financial plan. Here you’ll make a projection of  the profit your are going to make and the percentage that will go to your investors. A lot of people tend to make a lot of fabrications here with the hope of impressing the investors but this is of no use because sooner or later the investors and won’t give you the funds you require. You also have to be realistic because if you are not the investors might deem you as not being serious and would rather not be a part of your business. It is advised that for this stage you be as realistic as possible. Hire the services of a professional that will deliver an attractive yet realistic financial plan that will convince your investors that they won’t be making a mistake by investing in your business.

Now the hard part is done, you can then create a table of contents to make it easier for any one reading it to get to any information that is needed easily.

Hurry now, GET YOUR Supermarket Business Plan In Nigeria / Feasibility Study. To place an order, pay N10,000 to

GTBank (Guaranty Trust Bank)
Account Name – Chudi-Oji Chukwuka
Account No – 0044157183

After paying for your Supermarket Business Plan In Nigeria / Feasibility Study, send your email and payment details to 08060565721.

Owning a supermarket is a very good business idea. People will always need things like groceries, household appliances, fashion and makeup items amongst others and if you are within reach of course they’ll come for you.

But there are some factors that you have to consider before venturing into this business and that is what we are here to help you out with.

First off you have to really know what you want. Some people have it in mind to open a provision store and confuse it with owning a supermarket. A provision store and a supermarket are not the same thing and we’ll be showing the differences.

A supermarket is a very big space where one can buy practically most if not all of household appliances, food items,  clothing, tools, toys amongst others. A very distinctive feature of a supermarket is that it is usually very large so much more than a provision store.

Sometimes a supermarket can even take up an entire building. Another distinctive characteristic of a supermarket is that there is self-service. When we say self service what we are talking about is that that the customers are the ones who walk around the space and select whatever product they need from shelves.

Usually a cart or basket is provided for those who want to buy a lot of things and when they are done selecting all that they need then they make their way to the cashier where they’ll pay for what they purchased, get a receipt and have all the purchases bagged before they can leave the supermarket.

This is not obtainable in a provision store as you either point at what you need or you tell whoever is attending to you what you need and it will be gotten for you then you make your payment.  There is usually no self service option in a provision store.

The fact that self service is allowed in supermarkets is a very intentional and strategic move. The items are arranged in very attractive manners and you are seeing them all as you walk down the different sections so most times you’ll see yourself buying more than you had in mind to buy when you walked into the supermarket.

As everything is arranged so well in clear bright lights and look so appealing and attractive, you impulsively pick things out of the shelf and cart them away to the cashier to make payments.

We have no doubt that you now fully understand what a supermarket is and if you want to go ahead and start a supermarket business then you are at the right place.

We will take you step by step on all important information and requirements one has to be fully aware of before venturing into the supermarket business.

If you want to make the most out of your supermarket business and make a lot of gain then pay critical attention to all that we have to say.

Supermarket Business Plan / Feasibility Studies

The first thing you have to do is to write a Business Plan.

This is a necessity. Before you venture into any sort of business you have to know exactly what you are getting into and amass as much information as you can about the business otherwise you won’t make the most of your investment.

The saying that knowledge is power comes very much to play here.  You have to be armed to the teeth and that is what a business plan will do for you.

The business plan will help you to  know what you are getting into and how you can go about it and even point out some areas regarding the business that you may have overlooked or deemed to not be important.

It is important to note that a business plan is not something that should be rushed.  You have to take your time in conducting your research and no information is too little as you have to take everything into perspective so as not to miss out in any way.

You have to conduct a thorough feasibility study, compare goods and their prices, know what will sell out fast and what will not, know what to stock up more and which products to stock less etc. You can do this personally but if you don’t feel up to it then

                                                                                                  .

The next step to take is to register your business.

Some people do not consider this important but it is.  Your Supermarket business should be fully registered with the Corporate Affairs Commission in Nigeria. It gives you priority over your business name and makes your business recognised.  It also makes you aware of any other license or requirement for which you are mandated by law to have so that you can handle them and begin your business to avoid any sort of disturbance or interference later on when your business is up and running. If you need a lawyer who will help you with the business registration process, call us at 08060565721.

Another very important factor to consider is the location.

The location of your business is one of the fundamental factors that will determine whether your business will succeed or not so you have to be very careful when deciding on it. We will point out some of the factors you have to be aware of when deciding on the location of your super market.

One of the necessary things to consider is Population. You have to ensure that the place where you are going to set up the supermarket  has a large population after all who will you sell to if no body comes to buy from you.  So you have to find a place where there is a large or substantial population so that you will have a large customer base.

You also have to consider accessibility and Visibility. Now this is very important because if you are not visible and easily accessible then you will not get a lot of customers because people will not stress themselves to locate you when they can easily get what they need elsewhere.

To achieve this you have to take note of the area.  It is best to pick an area that is very busy and has a lot of activities, that is an area where people pass a lot for different purposes. You could also consider an area with a bus Park or a public transport terminal because it means that a lot of people will always be in the area. It might not be any of the instances that has been mentioned but the bottom line is to position yourself in a place where a lot of people will see you because if they can’t see you then they won’t patronise you. A major junction can suffice or even a busy street, bottom line is be visible and accessible.

Another factor to put into consideration is the Zoning Policy. Some people go ahead and have some establishments in areas where they are not allowed because of zoning policies. It wouldn’t be wise to spend time,  energy and money in establishing your supermarket and then discover that you can’t operate because you did not make proper enquires about the zoning policy. Knowing this before but establishing your supermarket can save you a lot of stress and in the long run you’ll eventually end up spending more money or loosing out entirely.

You cannot afford to close your eyes to Competition, not ever. If you loose your guard then you will find yourself at the bottom of the food chain in no time.  You have to take note of competition from the start of the supermarket and continuously. If you see that the competition is too stiff in the area you can either decide on the factor that will give you an edge over others or that will keep you on top.  You can also opt to look for another location where competition is not so stiff.

Part of your initial costs will also include rent for the space that you want to use. You cannot just put off knowing how much you should pay for the rent till the last minute.  You should know ahead of time so that you can also be in a better position to check out other places and the cost and finally settle for something that you have the funds for.  It is very important to know that the cost of real estate varies from place to place so you do not expect to see everything in the same range at the same cost. These are factors you have to put into consideration when making plans regarding a space and rent to pay for it. You also need to decide if you are going to pay for long term or you’ll just pay for a year.  It all depends on the size of your pocket.

You will need to consider a warehouse or a parking store because you will be making your purchases in bulk and not all of them can be on display at the same time so you’ll need a place where you can keep them and when the ones you have displayed have finished or diminished then you can bring them out. It is also better to have this space because you might run out of products and not be able to get another supply as soon as you would need them so it is better to have more and this more can be stored in the warehouse. Most times the warehouse or parking store is either in the same building or it will be close by so that it can be easily reached whenever there is need for it. This is very necessary because if customers come and don’t get what they are looking for then they will get it elsewhere and gradually they’ll stop coming to your establishment all together.

You also need to have a steady line of suppliers.  It is best to make your purchases directly from manufacturers or from wholesale distributors. This is because you will be able to buy your products at very cheap rates and you’ll make reasonable profit without selling to your clients at exorbitant rates.  You must not have just one supplier for a particular product because you need to have as many brands as possible of a particular product so that your customers can have a variety of products to choose from and they’ll be comfortable making their choices based on the quality of the brand, quantity and price. You also have to be careful on how you stock up perishable goods seeing that they get spoilt easily.  If you must stock them up in large quantities then you have to ensure that you have a steady power supply and that you’re refrigerators are equal to the task.

Some of the products you can stock up are Organic Food which includes Fresh fruits and raw vegetables.

Cosmetics which includes Hair cream, body lotions, make-up kits, etc.

Hair Products which includes Hair extensions, hair relaxing creams, shaving lotions, amongst others.

Jewelries which includes Wrist watches, ear rings, necklaces, pendants, etc.

Clothes which includes Suits, jackets, shirts, underwear, sweaters , skirts, pajamas, etc.

Pharmaceutical Products which include Condoms, hand gloves, Hydrogen peroxide, first aid kits.

Kitchen Wares which includes Plates, cutleries, kitchen pots, pans, stoves, dish washers, gas burners, toasters, etc.

Toys

Canned Foods. There are a lot of canned foods that can be found in the market and they include – Canned Tomatoes, Sardines, canned sauce, canned beans amongst others.

Diary & Poultry Products. These include Milk, meat, eggs, cheese, etc.

Drinks which include Dry gin, wines, fruit juice, soft drinks etc

Footwear for both Male and Female which includes Loafers, boots, sandals, slippers, etc.

Packaged Products such as bread, assorted biscuits, etc.

Toiletries which includes Soaps, Toilet rolls, Face towels, Hand napkins, Shampoos etc.

Household Products such as flower vases, shoe bags, portable wardrobes, etc.

Sports Equipment which include Skipping rope, board games, running shoes, dumbbells, static bicycles, etc.

Electronics such as Phones, television sets, laptops, DVD players, amongst others.

Seasonal Products such as Gifts for celebrations, Christmas, anniversaries, birthdays, etc.

Food Stuffs such as Yam, Rice, beans, plantain, semovita,  flour etc.

Pet Supplies which includes Pet food, Pet toys etc.

Now having enough products and in different brands is a good thing but you have to arrange them in such a way that they have aesthetic value and appear attractive to the eyes.  Moreso you should take care in arranging them in such a way that customers will find it easy to locate what they need. Products that go together should be arranged alongside each other and so forth.  For instance baby wipes and diapers should be arranged close to each other.

There should be a steady source of electricity and if power supply is epileptic in the area then you need to get an alternative source of power.  A supermarket has to be always bright. You can’t fit your supermarket with coloured lights otherwise customers might find it difficult to see what they need to buy. Also you need power constantly to power your Air conditioners, refrigerators and other electronic gadgets that contribute to the smooth running of the business.

You equally have to install an Automated Machine for Your Cashiers. This makes payment and the issuing of receipts way much easier. It equally aids in properly monitoring funds to avoid theft or misappropriation.

Finally, your business will not thrive if you do not have well trained staff and if your customer care is poor.  Your employees have to be made to understand that the customer is very important and should be treated as such. A good customer care goes a long way in retaining customers.

Hurry now, GET YOUR Supermarket Business Plan In Nigeria / Feasibility Study PDF/Word. To place an order, pay N10,000 to

GTBank (Guaranty Trust Bank)
Account Name – Chudi-Oji Chukwuka
Account No – 0044157183

After paying for your Supermarket Business PlanIn Nigeria / Feasibility Study, send your email and payment details to 08060565721.

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