If you have a knack for retailing various products, then you should consider starting your own supermarket business. It has been proven over and over again that supermarkets; groceries store or convenience store as it is popularly called in some countries is one of the businesses that can easily survive in any part of the world as long as it is situated in place where people live and work.
No doubt starting any business is not as easy as it sounds. Starting a business requires deliberate planning, capital and business skills. Depending on the vision you have for your supermarket business, you can start it on a small scale (mom and pop level) or on a larger scale. The good thing about establishing a standard supermarket is that, if you are successful in building your brand, you can easily sell your franchise to investors and that will translate to more money for you.
Now, if you are serious about starting a business that may afford you the opportunity to deal in various products (commodities), then you should consider this sure – fire tips that can help you start your own grocery store business from the scratch and build it to profitability within record time.
1. Write Your Business Plan
No matter the kind of business you want to start, as long as it is called a business, you would need a business plan to effectively start and manage the business. So, ensure that you take out time to sit back and draft a good business plan that can serve as a guide for your business. In case you don’t have the skills required to come up with a good business plan, then you can hire a consultant to help you write it.
Must Read: How To Write A Good Business Plan
From the onset, it is better that you get it right with your business, and getting it right means you should register your business and get every required permission and license before opening your grocery store to the public. It is important that you register your supermarket business so as to enable you to obtain your Tax Payer’s ID and all other details that will enable you operate in the community you chose to establish your supermarket.
3. Carry out Your Feasibility Studies
If you truly want to start a supermarket that would enjoy continuous high patronage, then you should carry out your feasibility studies to enable you know the ideal place to situate your supermarket, the goods that are in high demand in the community, and loads of other factors that will help you plan and achieve your business goals.
4. Shop for a Suitable Facility
The location you chose to situate your grocery store determines how fast and successful your business may grow. It is important to locate your supermarket in a place that can easily be accessed, in place that have ample parking lot, and in place where you would have to compete with fewer or no other supermarket. Hence, when discussing with your real estate agent, make sure you clearly state the kind of facility you are looking for. The truth is that if you get a facility that has a fewer packing lot, it might likely affect the number of customers that visit your supermarket per time.
5. Source for Commodities Suppliers
You would need to source for manufacturers and wholesale distributors of commodities. The good thing about grocery store business is that if you stock your shelve with varieties, you would provide enough options for your customers. Therefore, ensure that you do not limit yourself to just a brand of a product. It would pay you to establish direct relationship with the manufacturers of the products you intend stocking your supermarket with.
6. Arrange and Organize Your Shelves
There are ways you could arrange the shelves in your supermarket that would make it tempting and irresistible for shoppers. Just make sure to arrange and organize your supermarket in such a way that would make it easier for shoppers, and also for your employees to monitor stocks and know when to re – stock.
7. Employ Reliable Staffs
A supermarket business is not a kind of business that you can run alone; you would need at least a staff to work with you. But if you operate a bigger supermarket, then you must hire enough staffs that can help you man the supper market. It is important to state that grocery store business requires reliable and honest employees if you must guide against unnecessary loss of money. Basically, you would need a manager, cashiers and security men or woman.
8. Install Automated Machine for Your Cashiers
One of the easiest ways of blocking loopholes and stealing in your supermarket is to install automated machine for all your cashiers. With an automated machine, it becomes easier to issue receipts to customers and also help your with proper accounting of all sales.
9. Train Your Employees
The fact that running a supermarket may appear simple doesn’t mean that you should not invest in the training of your employees. As a matter of fact, if your employees aren’t trained in customer’s service and interpersonal skills, they may ignorantly chase some of your customers away. It is important that you train your staffs on how to handle various categories of customers. Because you would have all sort of people that will come to shop in your grocery store.
10. Create Awareness about Your Supermarket
If you have put all things in place for your supermarket business, then the next thing to do is to officially open your business to the public. You might have to go on a road show to inform the community of your new supermarket in their neighborhood, or you might adopt print and electronic media to advertise your business. Part of what you and your employees should also do is to print and distribute fliers and handbills that promote your grocery store in your neighborhood.
There you have it, the 10 sure – fire steps that can help you start your supermarket business and build it to profitability within a record time.