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How To Start A Successful Supermarket Business In Nigeria

Entrepreneurs.ng
May 6, 2020

A supermarket is a place where you can get essential and non-essential commodities of all kinds. The supermarket business is not a new kind of business; it’s a lucrative but expensive business to start.

In a supermarket, you have different types of consumables, household equipment, and appliances that satisfy all kinds of clients.

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Basically, it is a place where the elites, middle, and the low-class visit to shop for their needs. Aside from the beautiful and serene environment that is common with some supermarkets, you also have a variety of options and can shop for all your needs in one place without moving from one place to the other.

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In a supermarket, goods are placed in a way that appeals to shoppers. Indeed, shopping from a supermarket has become a major part of billions of people in the world.

Are you interested in setting up a supermarket business? Tighten your seatbelt and come on this ride with me.

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Supermarket Business

A supermarket is a large retail shop where all kinds of groceries, household goods, and products are sold. Goods are organised into sections on shelves and aisles in a self-appealing manner for easy identification.

It is a self-service center where customers shop their choice of product, thereafter proceed to the cashier for costing and payment.

The supermarket is becoming the preferred place to shop in Nigeria because it’s seamless and you can find most of the things you need in a place at relatively affordable prices. Also, the flexible payment option is also enticing; you can pay electronically or with cash unlike in the traditional market in Nigeria.

This business is capital intensive, but profitable. The self-service style, where customers can serve themselves until they get to the counter for payment reduces the cost of labour in running the supermarket business.

Let’s take a look at the important steps you need to take to start a successful supermarket business in Nigeria.

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Steps To Starting A Supermarket Business In Nigeria

Although anyone can start a supermarket business, success is guaranteed when you follow some laid down steps. Every business has its unique peculiarities, therefore one has to be prepared and do due diligence before venturing into any kind of business.

I have highlighted the basic steps to take in starting the supermarket business to ensure success.

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Go from idea to starting your business in 30 days

Starting any business requires deliberate planning, capital and knowledge about the business. You can’t wake up from the blues and decide to start a supermarket. The chances of failing will be high.

First, conduct a feasibility study of the opportunities and threats in the business venture. This is usually done through your business plan. In the business plan, you will state the aims and objectives of the proposed business, capital required, modus operandi and the possible steps to improve profit. Also, the business plan, will give insights on the market, competitors, pricing, and help you draw up plans to beat the competition.

After conducting your feasibility study and writing your business plan, then, proceed to do a business registration with the Corporate Affairs Commission.

You can register as a sole proprietor or a limited liability company depending on your choice. This process can be a little difficult, that is why companies like ReDahlia exist. ReDahlia makes business registration seamless for businesses.

Next, is to ensure that you comply with your tax obligations. Pay tax to the appropriate authority and ensure to get the proper licenses and permits.

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The cost of starting the supermarket business

A supermarket business requires a huge amount of money. For instance, renting or building your store can be quite expensive in Nigeria and can require millions of naira depending on the location.

If you don’t have the capital and you really intend to venture into the business, you can seek funding with your business plan. You can approach banks for a loan or seek out investors that will invest in your business either as debt financing or in return for equity.

There are other ways you can raise capital for your business; through your personal saving or selling of an asset, through friends and family, using crowdfunding sites or even through cooperative societies.

There are different elements in the business that requires huge capital. You have to consider rent, the cost of furnishing and setting up the store, the cost of purchasing goods, deployment, and implementation of technology, cost of buying computers and equipment, the cost of running the business like salaries, etc. All of these require money and from our estimates, you will need around N3Million naira to set up a mini standard supermarket business. Bear in mind that this amount is dependent on your location in Nigeria.

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Location determines the success and failure of a supermarket business. You can’t possibly run a standard supermarket in a rural area, it is best for urban or suburban areas.

Consider locating your supermarket in a busy road, close to a junction, filling stations, or areas that is easily accessible to people. Also, setting up in an environment with a good power supply is ideal so as to minimize fuel expenses.

In addition, ensure you choose a location where the environment is clean and odor-free.

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Build A Store

Once the location has been sorted, the next is to erect the structure or rent a space. After that, you proceed to furnish the supermarket, arrange shelves and display items in a way that they can be seen easily.

Create different sections and categories, use tags or signboards for direction. The supermarket should be spacious for easy movement to avoid customers bumping into each other.

Also, you can place different items like female goods separately, males separately, etc. Related items can be arranged together with price tags.

For comfort, the store should have cooling systems (fans and AC) in different sections. Also for security, the store should be burglary proof and fire alarms should be installed in case of fire outbreak.

The layout of the store should be planned in a way that it’s easy to connect to other adjoining rooms and points like the warehouse, cash points, checkpoint, entry point, toilet, and kitchen (if you intend to bake).

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Except you are running a small shop, a supermarket business is not a business where you have to run to the market every day to stock up finished goods. It requires buying goods in large quantities and storing them so that sold out commodities can be replaced.

The warehouse houses reserve supply and can be at the back or side of the supermarket or in another corner of the building. It should be off bounds to non-staff members. And, it should be easily accessible for restocking goods.

The warehouse manager should take extra precaution in stacking the goods. Every item should be labeled and tagged. Fragile goods should be kept far from heavy items, eatables from non-eatables, non-perishable from perishable. The warehouse should be secured at all times.

Human Resource

Supermarket business is different from a local store where one person operates the day-to-day activities. Due to the sensitivity of the business, you need to hire experienced staff who are customer-centric and trustworthy. You can organise training and seminars for proper integration.

Some of the personnel you need to run a supermarket are;

General Managers – They oversee the smooth running of operations of the entire business, such as staff coordination and managing the facility.

Cashiers/Accountant – These people are always at the counter ready to process sales and receive payment. They must be tech-savvy, smart, and proactive.

Sales Personnel – They move goods from the warehouse, arrange them on the shelves for shoppers. Also, they guide buyers on where to locate items of different kinds.

Security Personnel – Security personnel ensures the safety of lives and property. They direct drivers where to park their cars and guide incoming customers on how to keep their properties.

Warehouse Manager – He/she managers the warehouse and ensure stocks are well taken.

Cleaners – Ensure the cleanliness of the entire buildings at all times

Drivers – Transport goods and services relating to the business.

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A comprehensive guide to start the supermarket business

Some Equipment Needed In The Supermarket Business

Generator: Air conditioner, counting machine, refrigerators, and bulbs need to be constantly working. Hence, standby gen is needed in case of a power outage.

Computer and automated cash register: It gives room for proper accounting and quick issuance of receipt.

Refrigerators: Can be as many as you can afford. It is for storing perishable items, drinks, yoghurt, chocolate, ice- cream e.t.c

Cart/Trolley/ shopping basket : To convey purchased items to the counter for payment.

Surveillance Camera : Depending on the size of your market, you might need to install a surveillance camera in every area. This will reduce the rate of pilfering rampant in stores and shops today

Also, install a good burglary system, to avoid burgling at noon and night.

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The supermarket owner should have different reliable sources for the products it sells. As long as you are not selling one particular item, it is important to create links with manufacturers, distributors, wholesalers, importers, and marketers of all kinds of goods.

It is also important to know when to restock, quantity to restock, and how to negotiate and get the best price. You can sell all kinds of product ranging from fresh, frozen, baked, cooked, home utensils, toys, home appliances, etc.

Some of the items you can sell include: cosmetics, biscuit/candies, stationaries, clothes, shoes, phones and accessories, pieces of jewelry, beverage, pharmaceutical items, cream, toiletries, flowers, decoration products, books, baby care products, e.t.c.

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Tools for Inventory

Using software that tracks your inventory will help you discover the fast selling goods, monitor every item that is sold, and the items that needs to be replaced. There are different tools that you can use to track your inventory like Inflow, Odoo etc.

You can use a computer fitted with a barcode scanner and inventory software to monitor your inventory. This way, items are automatically registered into the system just by scanning. Manually tracking your inventory can be tedious but it can be an alternative in case there is downtime with your software.

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Payment for all items are made at the counter. The counter is where people pay for items and receive a receipt. Each item sold must be scanned by the barcode scanner for the computer to process the transaction and update the inventory list.

At the counter, you can employ some marketing gimmicks by placing some irresistible offers at the checkpoint to boost sales. You can place cookies, chocolates, toys, etc, at the counter. This type of strategy works all the time; while a customer is waiting in the queue, they find themselves adding these items to their carts.

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Owing to the number of different supermarkets existing today, you can only stand out if you have a solid marketing and advertising strategy. Start your brand awareness within your vicinity. The people in your locality should know about the existence of your business.

Also, create customized cellophane bags to pack purchased goods with your business name, logo, and contact address visibly printed.

Design, print, and distribute flyers around your locality. Also, invest in billboard advertisements. Offer coupons, bonuses, and discounts. Additionally, it will help you stand out if you have an online department where people can shop online and their goods delivered to their doorstep.

Most importantly, ensure that you offer quality customer service and sell quality goods that are not spoilt or expired. If you sell expired goods, bad word of mouth will spread and customers will not return.

We have established that the supermarket business is a highly competitive but profitable if done right.

As with every business idea we discuss on this platform, success is not guaranteed by just starting the business. You need to put in the work, be determined, and run a structured business.

Success will not come in a flash, you have to persevere and tweak the business continuously. Also, you need a workable business model that we can help you prepare.

Goodluck. You are on your way to starting your supermarket business.

Do you run a supermarket business, we will like to read your insights in the comments.

As an entrepreneur, your business needs global visibility. Let’s write your business story in a way that resonates with your customers. Contact us today.

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Supermarket business plan in Nigeria Industry Overview:

Table of Contents

This is a Complete Guide to Setting Up a Supermarket in Nigeria:

A supermarket business is one of the most lucrative businesses in Nigeria an enthusiastic entrepreneur can venture into.

Most businesses in Nigeria require skills in market penetration but with this business the manufacturing companies have already done all the necessary marketing and exposure you’ll need, all that is needed is to find a suitable location.

When setting up a supermarket business in Nigeria you need to be confident about the product you are purchasing and its supply, you must be sure that the product is in high demand. You need to consider branded goods from well reputable companies like Coca Cola, Unilever, Nike etc. In fact, if someone knows your supermarket he/she will even speak highly of you based on his experience buying quality products through your store or your websites.

If you want to get more customers then for your supermarket business in Nigeria then you need to focus more on volume meaning you need to sell lots of stuff fast by reducing profit margin while increasing exposure sufficient enough so people buy everything quickly.

When you have loyal customers they will always come back to you for more and more in the future.

It’s a good idea when you start selling to also create an online presence example: listing all your products on Jumia, Konga, Jiji, Facebook marketplace, Instagram etc. Or you can have your own website to increase the visibility and exposure of your supermarket business in Nigeria and remember, don’t try to be greedy because if you overprice your product people will not buy.

Make sure you have a good price for your products. If it’s a quality product and you have a friendly price then your sales will be good. Price is a core factor in the supermarket business in Nigeria cause it creates trust, It’s not just your customers that will trust you, but also your suppliers too. If they see that you are trustworthy they will want to sell more goods to you. Remember, people like doing business with honest people because they know what they are going to get in return. You must be honest with suppliers because if not, then there is no point working with them at all so keep it fair and square.

Nigeria is a country with many grocery stores. Some are small and some are big.

Most Supermarkets in Nigeria deals in a variety of food supply, which can be raw or processed. We also have other supermarket niches such as clothing, electronics, and shoes.

The supermarket industry has been around for decades but has changed over time to meet the needs of residents. Supermarkets can be very expensive to set up due to the various equipment involved.

The company that owns the supermarket must also pay for things like electricity and water which can make it hard to keep the store running if they don’t get enough customers coming through the door every day.

Cost of Starting a Supermarket in Nigeria (Business Plan in Nigeria)

In our supermarket business plan, we examine the cost of opening a supermarket in Nigeria and what it entails.

Nigerian supermarkets are very expensive to open due to the high cost of rent, ongoing maintenance, and other factors. The average cost to open a supermarket in Nigeria can range from 1 million to as high as 20 million naira.

The main costs that must be taken into account when estimating the cost of opening a supermarket in Nigeria are land acquisition and construction costs etc. The actual cost required to build new stores will depend on many factors including size whether they should be spacious or whether they can fit at one end of the building with some type of storage area. In order for this total investment to justify itself, you need not only have an excellent design but also adequate infrastructure such as shelves, driveways etc. There’s needs no doubt that building three more buildings would add another multi-million naira worth of retail revenues each year even considering how much demand there is right now for grocery products in Nigeria (in terms of both consumer and government spending). With regard to logistics development alone grocery sales companies make Millions annually especially when they are around the luxurious residential area, like an estate.

Types of Products to sell in Supermarket In Nigeria

Here is a list of the top products for a supermarket business in Nigeria. The products are ranked according to the most popular and profitable.

Foodstuff (which can range from packaged consumables to raw food)
Tools (small and medium-sized equipment for all kinds of work)
Skincare products
Medications
Deodorant, perfume or body spray
Pesticides and insecticide
Interior design materials or fittings
Clothes and clothing accessories (like bags, shoes, belts etc)
Jewellery (wrists watch, rings etc)
Mobile phones and accessories
Computer and computer equipment

In most foreign countries supermarkets do sell a variety of goods and also offer some services but In Nigeria, we tend to niche down to a particular aspect in this industry, while doing your market research make sure you find out what sells best in that location, some locations can be food orientated while others might be clothing.

Does The Nigerian Government Offer Tax Deductions on Start-up Costs for Supermarkets?

The Nigerian government offers tax deductions on start-up costs for supermarkets. The Nigerian government has been trying to make Nigeria a more business-friendly economy by introducing tax deductions for start-ups. The deduction is available irrespective of the type of business and the amount invested in it. As a result, many entrepreneurs have started new successful businesses, which in turn has created jobs and increased economic activities in the country.

What Kind of Supermarket Business Plan in Nigeria Market Research Should you Conduct When Setting Up Your Own Supermarket Business In Nigeria?

In this section, we will discuss the importance of market research in your Supermarket business plan in Nigeria while setting up your own supermarket business in Nigeria.

Market research is a process of understanding the market and consumers.

It is important because it helps you to know what products people want and how they want them to be packaged. It also helps you to know how much people are willing to pay for these products. Market research can also help you understand consumer behaviour, which can be very helpful when deciding where to place your supermarket.

What kinds/products do Nigerian customers buy?

Above we talked about different products to stock your grocery business in Nigeria with.

But generally, there are four main types of products grocery stores in Nigeria purchase, they include

Ready-to-eat food (shopping),
Provision (Milo, Milk, Omo)
Ice packs & energy drinks etc.
Equipment (Toys, Brooms, Mop etc).

How to Market Your Supermarket Business in Nigeria Successfully

Marketing is a necessary part of any business. For supermarkets, the market is a little different. They have to not only advertise their products but also the grocery shopping experience.

Supermarkets have to make sure that they are providing an experience that is worth it for the customers. They need to offer quality food, affordable prices and convenience in order to attract more customers and keep them coming back.

A supermarket in Nigeria’s marketing strategy should focus on these two things:

What they want their customer base to be,
The Experience they want their customers to have when they step into the store.
Feeling they will have once they leave the store

If people are buying products from you then there must be a reason for that. Be sure to do proper research on what other companies are doing in your marketplace so that you can learn how to do things better than them. You should also study how they advertise their business too because most of them won’t tell you how they do things so it is up to you to find out how they do it. If you study your competitor’s business then you can learn from them and make your business better than theirs! I have learned a lot about my competitors by simply watching what they are doing and learning from them. By doing this I have been able to improve my business skills a lot to do it better than them.

Also, you need to know how much your competitors are charging for their products and if possible then try to find out how much their advertising costs too. If you are not sure of what it costs to advertise then ask other people who have done this before. Some people don’t want to share this information with you but if they won’t tell you then just ask someone else.

Table of content of Your Supermarket business plan in Nigeria:

Business structure and systems are built upon basic and organized and planned business.

In the supermarket business to counter competition, hostile external economic factors and customer needs, a successful venture should have laid down goals and objectives which lead them towards an effective, efficient and profitable route in a long run.

The importance of getting a supermarket business plan or for any type of business cannot be overemphasized.

Before you start to get a business plan from us you need to have a better understanding of the actual cost for the type of supermarket you’re about to start.

This is what your Supermarket business plan in Nigeria should contain:

Executive Summary
Description of Problem and Solution 2.1 Vision 2.2 Mission 2.3 Value Proposition 2.4 Business Objectives 2.5 Critical Success Factor 2.6 Current Status of Business 2.7 Legal Requirement 2.8 Contribution to Local and National Economy 2.9 Contribution to SDG
SWOT Analysis
Market Analysis
Competitive Analysis & Risk Analysis
Marketing Plan 6.1 Description of Product (S) or Service (S) 6.2 Potential challenges in the business industry 6.3 The Opportunity 6.4 Target Market 6.5 Marketing and Sale Strategy
Production Plan/Operational Plan 7.1 Description of the Location/Factory 7.2 Raw Materials/consumables 7.3 Production Equipment/Capital Expenses 7.4 Equipment/Depreciation Table 7.5 Pricing strategy 7.6 Record/Stock Control Process 7.7 Pre-operating Activities and Expenses

8.0 Organization Structure and Responsibilities

8.1 Salary Schedule

9.0 Financial Plan

9.1 Start-Up Capital Estimation (Expansion Capital Estimation)

9.2 Loan Details

9.3 Business Risk and Mitigating Factor

9.4 Financial Projections

9.5 Sales Forecast And Sales Assumption

9.6 Income Statement (P&L) Account

10. Conclusion

Please note that a bad business plan can ruin your business reputation and also cause loss in investment, so be very diligent while buying a business plan.

Be rest assured we provide great value for your money by making sure our business plans pass through rigorous steps before they are sold or given to a customer we make sure to provide you with accurate analysis and data set that directs your business decisions the right way.

Supermarket business plan in Nigeria Conclusion:

Setting up your own successful supermarket is not an easy task. But if you are willing to put in the work needed, you will be able to reap all of the benefits that come with it The supermarket industry in Nigeria is booming and it is the second-largest employer in Nigeria. It has also been a key contributor to the growth of the Nigerian economy. The future of the supermarket industry in Nigeria is looking very bright as a result of its continued growth and success

The first thing in business aside all I’ve said is acquiring a business plan which sets a futuristic success plan and guidelines in achieving desired goals and objectives you have for your supermarket business.

You can get a supermarket business plan in Nigeria from us at NaijaCEO

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Micah Erumaka

About Micah Erumaka

Micah Erumaka is the Founder of LiaonCEM solutions which owns NaijaCEO. He is an Internet Entrepreneur and a content creator. After the failure of his first company at age 18 he started NaijaCEO to help entrepreneurs with the information they need in operating a successful business in Africa

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How to Start a Supermarket in Nigeria (2024)

by Mfonobong Daniel

When opening a supermarket for the first time in Nigeria, there are certain business strategies you need to know before you start. These strategies will ensure you start and own a profitable provision store without hassles. Read through to find out.

The entrepreneurism in today’s young people is very strong. Young Nigerians frequently think about low-investment business strategies. A significant portion of them are starting their businesses while they’re still attending school. If you’d like to open a practical business in Nigeria, there are several of possibilities to think about. Since you have the resources, you might want to consider opening a supermarket or convenience shop. The best places to buy household necessities, such as food, drinks, candy, cleaning supplies, and items for personal care, are supermarkets or grocery stores. They offer simple access to common home items. There is nothing left to do but get started if you are determined to open a supermarket or commercial shop.

TABLE OF CONTENTS

HOW TO START A SUPERMARKET BUSINESS IN NIGERIA

Here, we offer a 10-step plan to help you launch a supermarket venture in Nigeria and address any questions you might have.

STEP 1: DRAW UP A BUSINESS PLAN

You must have a business strategy before opening a supermarket, just like you would for any other venture. The fundamentals should be included in your supermarket business strategy. This involves making choices regarding, along with other things, regardless of wether you would prefer a physical shop or an online one, the kinds of products you plan to sell, the price of inventory, the prices of your products, competitive analysis, and financing. A business plan is essential for funding as well as for giving your company direction.

Whatever type of business you wish to launch, you will need a business plan to launch and operate it successfully. Therefore, be sure to set aside some time to reflect and create a solid business strategy that can serve as a roadmap for your enterprise.

STEP 2: CARRY OUT YOUR FEASIBILITY STUDIES

An essential part of any business is a feasibility study. You should conduct your preparatory work if you are sincere about wanting to open a supermarket with steady, high traffic. This can help you identify the best location for your store and the things that the neighborhood is most in need of. You will learn about a ton of additional elements from the study, which will aid in the planning and accomplishment of your business objectives.

STEP 3: REGISTER YOUR BUSINESS

Registration is the most fundamental prerequisite for every type of business. It is preferable to get your business straight from the start. Before letting the public into your supermarket, you should register your company and obtain all necessary permissions and licenses. It is crucial that you register your supermarket company in order to get your Taxpayer ID as well as all other documentation. These legal documents will let you operate where you’ve decided to set up your supermarket.

STEP 4: SEARCH FOR A SUITABLE LOCATION

It’s crucial to consider your supermarket’s location carefully. It determines how quickly and profitably your company may expand. It is crucial to place your supermarket in an area that is simple to get to. Consider placing it where there is a large parking lot and where there are few or no other supermarkets to compete with. Therefore, be sure to specify the type of facility you are looking for when speaking with your real estate agent. The fact is that if you choose a facility with less packing lots, you will benefit. The number of people who frequent your supermarket on a regular basis may be impacted by this.

STEP 5: SOURCE FOR SUPPLIERS OF COMMODITIES

You would have to look for producers and wholesalers of various goods. The advantage of operating a supermarket is that if you fill your shelves with a variety of items, you will give your customers a sufficient number of choices. Therefore, be careful not to restrict yourself to a single product brand. You would benefit from forging close ties with the companies that make the goods you plan to supply your shopping centre with.

STEP 6: ARRANGE AND ORGANIZE YOUR SHELVES

You can set up the store in your supermarket in a way that appeals to customers and makes it hard for them to resist buying anything. Just be sure to set up and structure your store in a way that allows for easy movement. You ought to simplify stock monitoring so that customers and staff members can determine when to restock.

STEP 7: EMPLOY RELIABLE STAFFS

Running a supermarket business by yourself is not advised. You would require at least one staff member to assist you. However, if you run a larger store, you’ll need to hire additional staff to help staff the night market. It is crucial to note that the grocery store industry needs dependable and honest staff. This would protect your company from needless financial damage. In essence, you would require a manager, cashiers, and security personnel.

STEP 8: SET UP AN AUTOMATED SYSTEM FOR YOUR CASHIERS

One of the simplest ways to safeguard against theft and vulnerabilities in your supermarket is to employ an automated system. This suggests that all of your cashiers should use a small company touch screen cash register. It is simpler to give clients receipts when a machine is computerized. Additionally, you can assist you with accurate accounting for every sales.

STEP 9: TRAIN YOUR EMPLOYEES

The fact that managing a supermarket could seem straightforward does not imply you shouldn’t spend money on employee training. In fact, when your staff isn’t trained in dealing with customers and communication skills, they can inadvertently drive some of your consumers away. It is crucial that you prepare your employees on how to deal with different customer types. Considering that all kinds of buyers would flock to your shops to buy.

STEP 10: CREATE AWARENESS ABOUT YOUR SUPERMARKET

When you are confident that you will open your supermarket, you can start informing people about it. Consider a marketing strategy. The success of a road show depends on awareness and word-of-mouth. Nevertheless, if you want to make a bigger impact, consider running ads in regional publications, distributing flyers, or even individually reaching out to potential clients. Create an inauguration so that more people are aware of it. To help offset the costs, think about obtaining a retail shop loan.

LIST OF ITEMS TO SELL IN A NIGERIAN SUPERMARKET

There are various supermarket stores in Nigeria that sell a wide variety of household and personal products. These range from food, household items, and personal care products. If you are looking for items to sell in your provision store, here are some of the items that you might find at a supermarket in Nigeria you might want to start selling:

Grocery items: Supermarkets in Nigeria typically sell a wide variety of grocery items, including rice, beans, grains, pasta, cooking oil, spices, and condiments. You can also find frozen and refrigerated products, such as meat, fish, and dairy products on the self for customers to buy.
Fresh produce: Many Nigerian supermarket business have a section devoted to fresh produce, where you can find a variety of fruits and vegetables, including locally grown produce as well as imported items.
Personal care products: Supermarkets often sell a range of personal care products, including shampoo, conditioner, soap, toothpaste, and other hygiene items. You can also find cosmetics, such as makeup and skin care products.
Household items: In addition to food and personal care products, Nigerian supermarkets often have a range of household items, such as cleaning supplies, laundry detergent, and paper products on display for sale.
Frozen and packaged food: You should find such in big chain supermarkets such as shoprite, Adide,etc. These stores, often have frozen food section where you can find a variety of frozen meals and snacks, such as pizza, chicken wings, and ice cream that customers love to buy. You can also find packaged snack foods, such as chips and cookies.
Alcohol and tobacco products: Some supermarkets sell a selection of alcoholic beverages, including beer, wine, and spirits. You may also be able to find tobacco products, such as cigarettes and chewing tobacco.
Health and wellness products: Many top supermarkets in Nigeria have a section where health and wellness products, including vitamins, supplements, and over-the-counter medications are displayed for sale.
Electronics and appliances: Some stores in Nigeria may also carry a selection of electronics and appliances, such as TVs, laptops, and smartphones.
Clothing and footwear: Some supermarkets in Nigeria may have a small selection of clothing and footwear, including basics such as socks and underwear.
Books and other non-food items: You may also be able to find a selection of books and other non-food items at a Nigerian provision store, such as stationery, gifts, and home decor.

Overall, the list of items sold at a supermarket in the country is quite diverse and can vary depending on the specific store. However, you can generally expect to find a wide variety of food, personal care products, household items, and more at a supermarket store in Nigeria.

You got it, then! The steps listed above are the ones you can count on to help you launch your supermarket business in Nigeria. With this, you ought to be able to quickly get it profitable. We wish you a successful business.

Mfonobong Daniel

Daniel is an Editor on Nigerian Infopedia who craves for writing, researching and also watching soccer.

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Best Way to Start a Provision or Grocery Store Business in Nigeria

How to Start a Grocery Store Business in Nigeria!

Are you contemplating starting a grocery store, mini supermarket, or a provision business in Nigeria? If yes, then you have come to the right place.

Opening a grocery store in Nigeria is a profitable business idea since the population is increasing, and the average person which makes up the bulk of the population needs to buy provisions on a regular basis.

It is, therefore, safe to say that the sale of provisions is a viable business option in Nigeria. However, you are not the only one that have an idea of just how lucrative it is. Some have ventured into the business without proper orientation with the business etiquette, only to get burned halfway into the business.

This, therefore, begs the question, how then can one successfully start a provision store business in spite of the competition and challenges that may arise?

Well, keep reading to find out how to set up, develop, manage, and nurture your investment in the grocery business in order to make good returns on your hard-earned money.

The purpose of this editorial is to get you acquainted with how to successfully start a provision business in Nigeria, how to survive the competition, and the various ways to mitigate risks. We will also be looking at the list of items in a provision store in Nigeria.

Steps to Start a Provision or Grocery Store Business in Nigeria

Below are the various steps one must take in order to establish a successful provision business in Nigeria.

Conduct a feasibility study
Develop a business plan
Obtain the start up capital
Choose the right location
Contact reliable suppliers
Set up a good pricing strategy
Stock your shop
Register your business
Promote your business

Now let’s delve into these steps in a more elaborate manner.

1. Conduct a Feasibility Study

It is very important to understand the intricacies or complexities of any business before venturing into it. In other words, you need to understand how this business works. To achieve this, one must conduct a feasibility study.

There are three levels through which one can enter the provision business in Nigeria. They are;

Provision business,
Grocery store or mini supermarket business, and
Supermarket business.

I. Provision Business

As the name implies, this type of business strictly deals with the sales of provisions alone. Hence, you wouldn’t sell perishables like fruits, meat, grains, and vegetables.

One can decide to become a retailer or a wholesaler. To become a retailer you’d need to negotiate with wholesalers who would provide you with inventories at discounted rates.

On the other hand, if you decide to become a wholesaler you would need to have a direct relationship with the producer.

II. Grocery Store or Mini Supermarket Business

A grocery store or mini supermarket business deals with the sales of dairy products, staple foodstuffs, meats, produce, and household supplies or provisions.

Simply put, a grocery store or mini supermarket business is a combination of provision business and the sales of fruits, meat, and foodstuffs.

This is usually done on a small or medium scale.

III. Supermarket Business

In simple terms, a supermarket business is a large scale business that deals with the sales of groceries. Shoprite is a good example of a supermarket business.

Understand Grocery Store Business

After selecting the type of provision business you wish to set up carefully examine the items you need to purchase and at what quantity. When several companies produce similar products, find out which company’s product sells the most. This will help you to determine buying preferences of consumers, product mix and the quantity to purchase.

Negotiate With Suppliers

If you intend to become a retailer, communicate with trustworthy wholesalers to help you identify fast selling products. Compare the responses of each wholesaler before drawing any conclusion. As you continue to read, you’ll find a list of items in a provision store in Nigeria.

Analyse the Competition

Assess the market discreetly to achieve success in this business. Spend some time to analyse your customer base and the level of competition in a particular area. While competition is good for business and customer satisfaction, unhealthy competition can paralyze your business before it even gets the chance to start.

Business Positioning

The location of your shop shouldn’t be saturated with several other businesses rendering the same services or selling the same product. Select the right place to set up your shop and meticulously choose the products you want to offer.

A business plan is only as good as the information used to construct it. And a feasibility study is the foundation or pillars of any business plan. Make sure you have deep knowledge of your potential customers and competitors before progressing to the next stage (drawing up a business plan).

Understand Your Target Market

Since a grocery store provides all the necessary requirements needed for running a household, your target market, therefore, is the entire neighbourhood surrounding your grocery shop.

You must choose the best location for your mini supermarket business, examine the potential of the location, and find the perfect customer mix for it in order to accurately evaluate your target market.

Observe your competitor and try to find out how your potential customers think of your competitor’s business, and what they feel the competitor isn’t doing right.

2. Draw Up a Business Plan

Like many businesses, you need a plan before venturing into the provision business in Nigeria. It is at this stage you clearly define the type of provision business you want to set up, how large you want it to be, and how do you intend to beat your potential competitors.

Developing a business plan puts you ahead of some people on this business because more than 30 percent of salespeople in this line of work ventured into it without a robust business plan.

Why You Should Develop a Business Plan

For instance, Mama Emeka and Sister Indomie did not draft an in-depth business plan before starting the provision business. This may contribute to the low returns they get from the business.

Even so, they have an edge over you because they’ve learned more about the business over time. They have made mistakes and tried a different approach to solve those mistakes.

They have witnessed a couple of trends and how these trends changed over time. This kind of knowledge can only be acquired on the job. This is often called knowledge due to iterations.

That said, you can make up for this gap in knowledge by using the information gotten from your assessment of the business, consumer’s behaviour, and target market to formulate a good business plan.

Things to Consider When Drawing up a Grocery Store Business Plan

Customers’ background,
Business location,
Living standards of potential customers,
Customers’ products preference,
When, how much, and how often of it they buy,
Customer retention: Having a good network of customers is a huge asset to this business.

It is often said that in business customers are the kings. This is very true for the provision store business because it is the customer’s demand that impacts all aspects of your provision store business.

How you choose to respond to this demand would determine the success or failure of the business. It is essential to draw up plans on how you intend to satisfy the wants of your customers.

Since this is a very low margin business, you need to make sure that there is no room for error while buying provision items. Make plans to periodically check your inventory to identify items that reside in your shop for more than a month. Subsequently, reduce the amount of that product when making a purchase.

3. Obtain the Start-up Capital

Upon progressing to this stage you must have done a market assessment and prepared a provision store business plan. Also, you must have drawn up a budget of how much you’d need to set up this business.

There are several factors that impact the provision store business start-up cost. You must put into consideration the location of the business, the size of the business, the number of employees you intend to hire (if any).

Small Scale Start-up Cost

It would cost you ₦75,000 to ₦150,000 to set up a small caravan for a provision store business stocked with the essentials. You would have to work as a sole trader because hiring a salesperson would increase your expenses.

Even so, getting a caravan would prove helpful as it would reduce or in some rare cases eliminate the cost of rent. That said, you might still have to pay a small token for the piece of land you currently occupy.

Medium Scale Start-up Cost

On the other hand, the cost of a basic provision shop (15 x 10 feet), fully stocked with inventories and furnished is about ₦350,000. This sum will increase if you add the cost to rent a shop. You would have to inquire about the cost of renting a shop in your location, as this cost varies from place to place.

Large Scale Start-up Cost

Furthermore, if you want to set up a modern mini supermarket with air conditioners and an industrial generator while hiring the services several salespersons in a metropolitan area, you would need about ₦50 million.

At this point, you may need to obtain a business loan from the banks, especially if it goes beyond your budget. Recently, it was discovered that Nigerian banks are more willing to give loans due to the current policy of CBN. However, you still have to meet up to the minimum requirements to become an eligible recipient.

Items in a Provision Shop

Books for inventory,
Wooden shelves or racks,
A table with drawers,
Shopping bags,
Carts (for a mini supermarket),
CCTV (for a mini supermarket).

How to Manage a Provision Shop

Maintain a proper account of the inventory and the products being sold;
Organise books of account;
Closely monitor the cash-flow, accounts, and stocks in your grocery shop.
Arrange products in an organised manner;
Use FIFI (first in, first out) method. Older commodities should be sold before newer ones.

4. Choose the Right Location

A good location is a critical aspect of your business. Search for an easily accessible location in the city centre or a busy place, with a good number of persons going to shop there. This would broaden your target audience.

However, if you anticipate that the competition may be too much for your business, you could strategically position your shop at a visible spot where customers can easily find you.

Furthermore, if you intend to open a mini supermarket, you would need to spend a huge amount of capital on an industrial generator, air-conditioners, management system, secret cameras, security, marketing, and advertising, etc. You would need to create a modern environment with the right product mix to attract and retain clients.

Moreover, the age group of persons that make up your customer base would influence your choice of products to stock your shop. The location of your shop would also affect the kind of goods you should buy.

5. Contact Reliable Suppliers

It is important to have a concrete arrangement with suppliers before progressing further. So contact different suppliers or wholesalers in order to find the best deal.

Patronise at least three suppliers for price comparison and to have good fallbacks in case a supplier disappoints you. A good network of suppliers is a huge asset to a lucrative provision business.

Note: Maintain a good relationship with your supplier so that you can enjoy some customer benefits (e.g. discounted prices and credit purchase).

6. Set Up a Good Pricing Strategy

Price is one of the essential variables in the marketing mix. According to Kotler and Armstrong, there are four general pricing techniques that businesses use to set an appropriate price for the products they sell and services rendered. They are;

Cost-based pricing,
Value-based pricing,
Value pricing, and
Competition-based pricing.

Your pricing approach is important because it influences the number of items a customer would buy and the probability to retain that customer. This would have a direct impact on the revenue and profit of your business.

Thus, it is important to set the right price for each product before you commence operations. An appropriate pricing technique will help a business to break even and cover overhead costs, thereby improving your net profit.

You can opt for one or more price approach, namely cost-based pricing or competition-based pricing.

Cost-Based Pricing

For a provision store business, cost-based pricing is a pricing method that uses the cost of purchasing a product, cost of transportation, and the cost of preservation to set the price of a product.

If you were a producer, the cost-based pricing technique will incorporate the cost of production, manufacturing, and distribution. Essentially, the aim of starting a business is to make a profit, this makes the cost-based pricing method a good place to start.

Competition-Based Pricing

Competition-based pricing is a pricing technique that makes use of competitors’ prices as a basis to set the prices of the same or similar product. This strategy can be very useful when there are several competitors in the market selling similar products.

Mark-up and Profit Margin

Most conventional grocery stores usually have mark-ups of 5% to 33% or profit margins of 5% to 25%. This is dependent on the size of your provision shop business, the living standards of your neighbourhood and the level of competition.

7. Stock Your Shop

Your target market plays a huge role in determining the kind of product to purchase. If your shop is located in a wealthy neighbourhood, you can purchase premium or expensive products and set your pricing system accordingly.

That said, for shops in a humble environ, setting prices too high may lead to low turnover.

It is important to arrange all your products in a neat fashion. This gives your shop an appealing look and makes it easier for customers to find products. Think of your store as a tangible art show of goods.

Note: If you are on a tight budget it is best to acquire a small shop because getting a big one with few items in it would give off the impression that you’d likely not have what customers are looking for.

Provision Items List in Nigeria

Here is a list of items in a provision store or shop in Nigeria.

8. Register Your Business

To start a lucrative provision business in Nigeria, you will need to have your grocery store business registered with the Corporate Affairs Commission (CAC).

On June 29, 2020, the Corporate Affairs Commission (CAC) announced that business owners would no longer need to approach the Federal Inland Revenue Service (FIRS) for a tax identification number. Your business TIN along with Certificate of Incorporation will now be issued to you by the CAC.

9. Promote Your Business

In recent times, promoting your business is a matter of necessity rather than an extravagant effort. This would broaden your target market and make people aware of your business.

Advertisements and promotions are essential for any business, and for your provision shop to attract as much as customers. You can tell your family members, relatives, and friends about your venture since oral publicity is a good way to promote your business.

Use Billboards

You can even emplace a drive-by traffic neon signboard to attract customers. Also, attractive window displays could help to increase patronage to your provision store business.

Build Good Customer Relationship

It is imperative to have a good customer relationship, for a satisfied consumer is often the best way to advertise your quality, rates, and reliability.

When it comes to making a choice on what medium to advertise and how large it should you must put into perspective the size of your business and the type of market. This includes flyers, TV, social media campaigns, newspapers, websites, etc.

Create a Business Page

We have gotten to the era where businesses need an online page. With a business page or website provision shop owners can take orders from consumers and deliver products to the abode of consumers while offering an online payment option.

The Bottom Line

A provision shop is a profitable business opportunity in Nigeria. Nigerians are ready to spend money on commodities they need daily. To get the best out of this business invest in better infrastructure, technology, and address customers’ needs.

It is usually best to start this business on a small scale, then scale later on. This gives you some on the job knowledge about the business. Having some knowledge of how to run a provision store will contribute to your success in the business.

Zerofy Editorial

Zerofy Editorial is a team of writers determined to provide evergreen content to millions of readers worldwide.

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How To Start A Lucrative Supermarket Business In Nigeria: The Complete Guide

How To Start Supermarket Business in Nigeria or Africa: Complete Guide

A supermarket is a large store that offers varieties of items for sale, which are classified into sections for customers to pick for themselves. A supermarket is an advancement on the traditional grocery store, and it forms a major component of every major society. Today, supermarkets run into hundreds in every major town and city both in developed and developing countries. Besides making life easy for dwellers of the society with the various commodities offered, the supermarket business contributes significantly to the world economy.

As of 2019, the global supermarket business was valued at US$11.7 trillion with a projected CAGR of 5% from 2019 to 2027. At the moment, China has the highest grocery market in value of $1.595 billion and the potential to grow by 5.5% CAGR by 2023. The United States of America comes close to China in grocery value of $1.494 billion. Other countries with leading grocery revenues are India ($510), Japan ($459b) and Brazil ($328b).

Nigeria has one of the largest grocery stores in Sub-Saharan Africa. As of 2017, Nigeria recorded over $44.8b in revenues from supermarket and grocery retail, with the food retail segment comprising $33.6b of these revenues. From 2017 till date, lots of new supermarket chains have sprung up all across the country to cater to the growing population. Nigeria’s population now stands at about 200 million people and has been projected to double by 2050. While this might have its adverse consequences, it holds a large grocery market retails in the country. More so, the supermarket industry is estimated to grow at CAGR of almost 10% by 2027. The supermarket business is found predominantly in areas such as Lagos, Benin City, Rivers state, FCT, Kaduna, Kano and Ilorin.

From time to time, more supermarket chains spring up in one major city or the other, and this explains why Nigeria has the fastest grocery market growth rate in Africa. As a matter of fact, the growth rate isn’t dropping anytime soon due to the growing competition among major supermarket chains. However, the supermarket industry in Nigeria is still at its maiden stage and can expand significantly. This makes it a brilliant opportunity for any investor in any part of the country. If you’ve decided to set up a supermarket business in Nigeria or any other part of Africa, here is a step-by-step guide to help you.

See Also : How To Start A Lucrative Cocoa Farming Business In Nigeria: The Complete Guide

What Is A Supermarket?

A supermarket refers to a large brick-and-mortar store where various commodities and groceries are displayed for sale. It is a self-service hub of commodities where the buyer walks through the aisles of items already arranged with their price tags attached and picks whatever items they want before making payments at the cashier point. Supermarkets are not as big as hypermarkets, but they’re bigger and provide more commodities than traditional grocery stores found in corners and streets of Nigeria.

What Is A Supermarket Business?

Starting a supermarket business describes all the activities involved in stocking up wares and retailing them for daily consumers. Setting up one would cost nothing less than 1 million Naira. A full-fledged supermarket in Nigeria in major cities could cost as much as N5 million to N10 million or more, depending on the volumes of groceries offered. Most Nigerians now prefer shopping at a supermarket to the regular grocery shops and the reasons are not farfetched. Besides the security and convenience that supermarkets offer, they also give shoppers conducive modern environment where they can make all their bulk purchases at once and pay via means other than cash.

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Business Opportunities In Supermarket Business In Nigeria And Around The World

The supermarket business comes with several other job opportunities, including the following:

1). Cashier Services:

Every supermarket enlists the services of two or more cashiers, depending on its size. These slots are mostly reserved for young people with excellent business acumen to relate with customers and conduct transactions.

2). Delivery Services:

Delivery services related to supermarkets is in two folds. All traditional brick-and-mortar stores frequently stock their supermarkets with groceries and other household items from wholesale distributors. They require the services of delivery personnel. On the other hand, ultramodern supermarkets now create digital platforms for people who cannot be physically present at the store to make their purchases. With the aid of mobile applications, people can access virtual supermarkets and have their purchases delivered to them.

3). Cleaning And Janitorial Services:

As inconsequential as it seems, cleaning and maintenance is a key service required in traditional supermarkets. This, therefore, leaves opportunities for cleaners and janitors in the supermarket business all across the world.

4). Security:

Another essential service required for the successful operation of a supermarket is security. Besides keeping the security personnel employed, supermarkets also need the services of CCTV technicians and operators.

5). Café Operations:

Some supermarkets choose to spice things up by creating an added section for cafe services. This could also be a job opportunity for cafe operators.

Facts And Benefits Of Supermarkets

Supermarkets offer a variety of products and commodities, including foods and household items.
Supermarkets make it easy to do all your shopping at one spot.
Prices of commodities in supermarkets are relatively lower than prices elsewhere because supermarkets have a larger buying power since they buy directly from manufacturers.
Supermarkets operate on self-service, which makes it comfortable for customers because they buy without pressure.
China, USA, India, Japan and Brazil are countries with the highest revenues from the supermarket industry.
Supermarkets offer quality products from trusted manufacturers.
Customers are not compelled or deceived into picking items that they do not want.
Supermarkets are often located in busy areas.
In Nigeria, major cities and towns such as Port-Harcourt, Lagos state, Abuja, Benin City and Kaduna are some of the areas with the largest concentration of supermarkets.
Supermarket business gives no room for debts or credit.
Supermarkets do not involve needless haggling of prices of commodities.
A Netherlands policy holds that if there are four people in the checkout lane and the points are not open yet, you get your groceries for free.
In Rhode Island, it is prohibited for supermarkets to open on Thanksgiving.
In Europe, there are platforms for people to buy goods discarded from regular supermarkets. These platforms are called social supermarkets.
An average person spends 43 to 45 minutes at the supermarket on each visit.
People shop more on Saturdays than on other days.
About 25% of grocery income is made from the sales of processed sweets.
According to reports, if you go to the supermarket when you’re hungry, you’ll likely spend more money on items that contain calories.
On weekdays, people shop more within 4pm and 5pm.
Only 3% of shoppers buy groceries online.

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Types of supermarkets.

There are precisely no types of supermarkets. Supermarkets themselves are a type of stores which is often mistaken for other retail stores. As a matter of fact, there is very little difference between convenience stores and supermarkets. However, one can clearly tell a supermarket clearly from a drug store or a hypermarket. Meanwhile, people could choose to spice up their supermarkets by adding other related services such as a cafe.

Beyond this, supermarkets can be classified into two:

1). Traditional Supermarkets:

These are the regular supermarkets located at busy spots of towns and cities and require your physical presence to make your purchase.

2). Online Supermarkets:

Also known as e-supermarkets, online supermarkets are just gaining grounds in some parts of the developed world. As of now, only about 3% of shoppers prefer to use digital supermarket platforms.

How To Start A Lucrative Supermarket Business In Nigeria: Step-By-Step Guide

1). create a business plan:.

To start up a lucrative supermarket, you need a business plan that involves all the critical decisions and steps to take. Your business plan entails the size of your capital or how to generate the necessary capital. You also need to decide on what type of supermarket you intend to start. Since the common type is the traditional physical supermarket, you need to determine the size of your supermarket. After that, conduct a feasibility study on the success rate of a supermarket in the selected area.

2). Get a Business Site:

After securing the key factors such as capital, get a favourable business site for your supermarket. In some parts of Nigeria, plazas and large shops are commonly used. The most important factor is that the supermarket has to be situated in a busy area where the dwellers are at least middle-class people.

3). Set Up The Supermarket:

The next stage is to set up the supermarket with the required facilities, including cashier’s desk and chairs, shelves, security devices, labels, price tags, baskets and trolleys, etc.

4). Employ Staff:

After setting up the supermarket, it is now a good time to employ labour. A typical supermarket requires services of cashiers, security personnel, delivery personnel, a manager, drivers and janitors, etc.

5). Connect With Manufacturers And Wholesale Distributors And Stock Up:

You need to network with several categories of people in the grocery industry such as manufacturers, wholesale dealers and distributors, among others. Strike deals with manufacturing companies to get wares at favourable prices and stock up your supermarket with the items that your feasibility study revealed to be the common items needed in the area.

6). Register Your Business:

For smooth and undisturbed operation, you should register your business with the Corporate Affairs Commission.

7). Run Advertisements:

Apart from those who walk by the new supermarket, not many people would know that there’s a new supermarket in town. This is why you need different forms of adverts, depending on which ones you can afford or which is most applicable in your locale.

See Also: How To Start A Lucrative Frozen Shrimps And Prawns Business In Nigeria: The Complete Guide

Challenges Of Supermarket Business In Nigeria

High startup costs
Maintaining a supermarket business could be expensive and demanding.
Supermarkets are not available to people in small towns and villages.
Erratic power supply in most parts of Nigeria.
High risk of robbery attacks.
Distrust between supermarket owners and employees
Most commodities cannot be sold in bits.
Poor road network makes delivery difficult and expensive.
Difficulty in reaching across to manufacturers outside the country.
High shipping costs.
High costs of rents in major cities.

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To Sum It Up

A supermarket business contributes maximally to the economy of any society, and not just brings massive profits to the investors. The supermarket business in Nigeria can be a lucrative and profitable venture to start-up, due to its vast market demand and on your ability to build a wide sales network. If you’re looking for a lucrative business to venture into, the supermarket business in Nigeria is a great option to explore.

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What are your thoughts on how to start a supermarket business in Nigeria? Let me know by leaving a comment below.

Grocery Store Business Plan in Nigeria

Grocery Store Business and Financial Plan

Our Grocery Store Business Plan in Nigeria is well documented and can also be used for, but not limited to:

Grant Applications,
Bank Loans,
Proposal writing,
Business Concept Note,
Competitions e.t.c

Purpose of the Grocery Store Business Plan in Nigeria

Benefits of the grocery store business plan in nigeria.

The Grocery Store Business Plan in Nigeria is beneficial because

It helps in outlining the steps needed to achieve the business goals and ideas.
It helps to articulate strategy to stakeholders who support the business.

Importance of the Grocery Store Business Plan in Nigeria

The Grocery Store Business Plan in Nigeria is important because

It will assist you in making sound decision in the administration of the commercial enterprise which will make a contribution to the success of the business.
It will additionally gives distinctive statistics on all components of the business, outlining the business desires and the steps required to achieve them.

Content of the Grocery Store Business Plan in Nigeria

Executive Summary
Introduction
Business Description
Keys to Success
Products and Services
Market Analysis
Our Target Market
Pricing Strategy
Competitor Analysis
Sales and Marketing Plan
SWOT Analysis
PEST Analysis
Operational Plan
Management plan
Financial Plan and Projections
Financial Diagnostics

Download The Complete Grocery Store Business Plan in Nigeria

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How to Start a Supermarket Business in Nigeria (Supermarket Startup Secrets)

A supermarket business in Nigeria is a retail establishment that sells a wide range of products to customers, typically including groceries, household items, personal care products, and sometimes even electronics and clothing.

Supermarkets offer a convenient one-stop shopping experience where customers can find a variety of products under one roof.

Key characteristics that define a supermarket business in Nigeria are; Product variety, layout and organization, self-service, size and space, convenience, brands and choices, pricing and promotions, customer experience, and technology.

Starting a supermarket business in Nigeria can be a lucrative venture due to the country’s growing population and consumer demand for convenient shopping options.

However, it’s important to get the nitty-gritty of the business before delving into it. And that is why this article (how to start a supermarket business in Nigeria) was written especially for you.

How much will it cost to open a supermarket in nigeria.

It will cost a minimum of ₦3,400,000 to open a supermarket business in Nigeria. This cost widely varies due to factors such as the location, size of the store, the range of products you plan to offer, the quality of fixtures and equipment, and other operational considerations. However, below is an estimate of the common categories of expenses you will likely incur when starting a supermarket business in Nigeria:

Keep in mind that this starting cost will vary based on your specific circumstances. Before starting your supermarket business, it is mandatory to conduct thorough market research and create a detailed business plan that outlines all potential expenses to be incurred.

Additionally, seeking advice from industry experts and business advisors in Nigeria can help you get a more accurate estimate of the costs involved in opening a supermarket in your chosen location and desired scale of operation.

How to Start a Supermarket Business in Nigeria

Here are the step-by-step procedures to start a supermarket business in Nigeria:

Step 1. Choose Your Scale of Operation

The first and foremost action step to take before starting a supermarket business in Nigeria is to determine your scale of operation. Your scale of operation means the size of the supermarket you desire to start; which could be a Large or Small size supermarket depending on your capital investment.

Generally, the term “supermarket” itself implies a larger size and a more extensive selection of products compared to smaller grocery stores or convenience stores.

While a small supermarket is often referred to as a “neighborhood grocery store” or simply a “grocery store.” but still offers a variety of food and household products for customers in a local community. In some regions, you might also hear terms like “corner store,” “convenience store,” or “corner shop” used to describe the same smaller supermarket that caters to the immediate neighborhood’s needs. The term used to describe a small supermarket depends on the location and regional language preferences.

Step 2. Conduct a Market Research

As usual, this step involves gathering information and analyzing data to make informed decisions about your supermarket business strategy. The purpose of conducting thorough market research is to minimize risks and increase your chances of success.

Below are areas of focus that must be covered during the market research of your supermarket business;

1. Identify Your Target Market and Location:

Target Market: Determine the specific group of people who are most likely to become your customers. This involves understanding their demographics (age, gender, income level), psychographics (lifestyle, preferences, values), and buying behaviors (what they purchase, how often, etc.).
Location: Choose a suitable location for your supermarket. This involves evaluating the local area’s population density, foot traffic, nearby competitors, accessibility, and potential customer base. A prime location will help attract and retain customers.

2. Research the Demographics, Purchasing Behaviors, and Preferences:

Demographics: This includes information about the people who live in the area, such as age, gender, family size, and income. For example, if the area has a high proportion of families, you might want to focus on offering family-friendly products.
Purchasing Behaviors: Understand how often people shop, what products they buy, and their spending habits. This knowledge helps you stock products that are in demand and adjust your pricing strategies accordingly.
Preferences: Learn about consumer preferences, such as their preference for local products, organic items, or specific brands. This allows you to tailor your product selection to meet customer desires.

3. Study Your Competition:

Competitor Analysis: Research and analyze existing supermarkets and grocery stores in the area. Understand their strengths, weaknesses, and unique selling points.
Identify Gaps in the Market: Look for areas where your potential competitors might be falling short. These could be product categories they don’t offer, quality of service, pricing, or even customer experience.
Unique Value Proposition (UVP): Identify what will sets your supermarket apart from the competition and leverage on it/them. This could be a special product range, exceptional customer service, unique promotions, or any other aspect that gives you a competitive edge.

This knowledge will guide your decisions regarding inventory selection, pricing, marketing, and overall business positioning.

Step 3. Create a Business Plan

The next step that immediately follows after conducting a successful market research is the creation of a Business Plan.

A business plan is a detailed document that outlines the entire scope and strategy of your business.

Creating a comprehensive business plan is essential in helping you clarify your vision, understand your business’s potential challenges and opportunities, and ultimately provide a roadmap for achieving your goals.

In addition, a business plan plays a convincing crucial role if you’re seeking external funding or partnerships.

In general, a good supermarket business plan must cover these areas;

Business Goals
Target Market
Competitive Analysis
Marketing Strategies
Financial Projections
Operational Plan
SWOT Analysis
Risk Assessment and Mitigation
Exit Strategy (Optional)

Step 4. Legal and Regulatory Requirements

This step focuses on meeting the legal obligations and governmental regulations set by the government of Nigeria to all those who desire to operate a supermarket business in Nigeria. The primary purpose of these requirements is to ensure that your business operates legally, ethically, and in compliance with the laws of the country.

Here are the major requirements to be met by everyone who desires to start a supermarket business in Nigeria;

1. Business Registration with the Corporate Affairs Commission (CAC) in Nigeria:

The Corporate Affairs Commission (CAC) is the government agency responsible for registering businesses in Nigeria . Registering your business with the CAC establishes your business as a legal entity. You’ll need to provide details about your business, such as its name, structure, ownership, and address. This step formalizes your business and provides you with legal recognition.

2. Obtain Necessary Licenses and Permits:

Different licenses and permits may be required depending on the nature of your supermarket business and your location. These may include:

Business Permit Trade License Tax Identification Number (TIN) Health and Safety Permits

3. Other Relevant Regulations:

Consumer Protection Regulations Rights: (such as accurate pricing, product quality, and fair business practices).
Labor Laws, and
Environmental Regulations

Failure to comply with these requirements will lead to legal penalties, fines, and even closure of your business. It’s essential to thoroughly research additional requirements that apply to your specific location, and consult with legal experts if needed, to ensure full compliance with all applicable laws and regulations.

Step 5. Location Selection, and Store Setup and Design

Location selection focuses on choosing the perfect physical location where your supermarket will be situated.

As easy as it may be to comprehend, know that the success of your business can be greatly influenced by the location you choose.

In choosing the right location for your supermarket business, these key elements must be factored into your decision-making process;

The location must be strategic and accessible
It must command high foot traffic
It should have proximity to residential areas, schools, offices, and public transport

While store setup and design involve planning and arranging the physical layout of your store to optimize customer experience and product visibility. A good supermarket store setup and design should include;

Supermarket layout for easy navigation and product display
Quality fixtures for shelving, refrigeration units, lighting, and signage

These two attributes (Location selection, and store setup and design) have a direct impact on customer experience and the entire success of your supermarket business in Nigeria.

Step 6. Choose a Business Model

Selecting a suitable business model is a crucial step in starting a supermarket business. The business model defines how you will operate, generate revenue, and provide value to customers. There are different types of supermarket business models, each with its own advantages and considerations. Here are a few common types of business models :

Conventional Supermarket: This is the traditional model where customers come to the physical store to shop for a wide range of groceries and household items. This model requires a physical store, inventory management, and a focus on in-store customer experience.
Discount Supermarket: This model focuses on offering products at lower prices by emphasizing cost-cutting measures. It attracts price-conscious customers looking for deals and discounts.
Specialty Supermarket: Specializing in a particular niche, such as organic products, gourmet foods, health and wellness items, or ethnic foods, will differentiate your supermarket and attract a specific target audience.
Online Supermarket: Operating exclusively or predominantly online, this model involves taking orders through a website or app and delivering products to customers’ doorsteps. It requires a robust e-commerce platform and efficient logistics.
Hypermarket: A hypermarket is a larger version of a supermarket that offers a wide variety of products, including groceries, clothing, electronics, and more, often in a single location.
Warehouse Club: Similar to a membership-based business model, warehouse clubs offer products at discounted prices to members who pay an annual fee. The focus is on bulk purchases.
Community Co-op: This model involves community members collectively owning and operating the supermarket. It foster a sense of community involvement and decision-making.

Factors such as your target market, location, available resources, competitive landscape, and market trends are what will determine the kind of business model that best suits your supermarket.

And lastly, it is important to align your chosen business model with your business goals and market research findings.

Know more about choosing the right business model f or your Supermarket business in Nigeria.

Step 7. Inventory and Suppliers

This step is all about managing the products you stock, ensuring a consistent supply from trusted suppliers, and implementing effective inventory management practices.

Below are ways to effectively and efficiently manage your inventory and suppliers;

1. Source Products from Reliable Suppliers and Negotiate Favorable Terms

Supplier Selection: Choose suppliers that only provide quality products, consistent delivery, and competitive pricing. Research and establish relationships with reputable suppliers in various product categories.
Diverse Range of Products: Stock a wide variety of products to cater to different customer needs. This could include groceries, fresh produce, household items, personal care products, cleaning supplies, snacks, and more.
Negotiate Terms: Negotiate with suppliers to secure favorable terms, such as bulk discounts, payment terms, and delivery schedules. Building strong relationships with suppliers can lead to better deals.

2. Maintain Optimal Inventory Levels and Implement an Effective Inventory Management System:

Optimal Inventory Levels: Balancing supply and demand is critical. Overstocking can tie up capital and lead to product wastage. While understocking can result in lost sales and dissatisfied customers. Determine the appropriate stock levels for each product category.
Inventory Management System: Use technology to manage your inventory efficiently. Implement a point-of-sale (POS) system with inventory tracking features. This helps you monitor sales trends, track stock levels, and reorder products as needed.
Reorder Points: Set up reorder points for each product to trigger reordering when stock reaches a certain level. This ensures that you restock before items run out.
Stock Rotation: Practice First-In-First-Out (FIFO) stock rotation to prevent products from becoming expired or outdated. Arrange products so that older stock is sold before newer stock.

Keep in mind; Efficient inventory management ensures that you have the right products available when customers want to buy them. While astablishing a reliable relationship with suppliers helps you secure quality products on favorable terms. Ultimately, they both contribute to your supermarket’s success.

Step 8. Technology and POS Systems

Integrating modern technology into the operations of your supermarket business will enhance efficiency, accuracy, and customer experience of your supermarket business. Point-of-sale (POS) systems play a key role in managing sales, inventory, and customer transactions.

In other to successfully incorporate this modern technology these are elements that must be included;

Sales Tracking: Technology allows you to track sales data in real-time. This data can be used to analyze which products are selling well, identify trends, and make informed decisions about your product offerings.
Point-of-Sale (POS) System: A POS system is a software and hardware solution that handles customer transactions, sales records, and inventory updates. It streamlines the checkout process and provides accurate real-time data.
Barcode Scanners: Barcode scanners read product barcodes quickly and accurately, simplifying the checkout process. They also link to your inventory system, ensuring that each sale is accurately recorded.
Thermal Receipt Printers: These printers generate clear and high-quality receipts for customers. Receipts include information about purchased items, prices, and payment methods.
Other Necessary Equipment: Depending on your business needs, you might also need equipment like cash drawers, payment terminals, touchscreen displays, and customer displays.

The implementation of technology and POS systems brings several benefits such as:

Faster and more accurate transactions at checkout.
Improved inventory management and reduced stockouts.
Detailed sales reports for informed decision-making.
Enhanced customer experience through quicker transactions and accurate receipts.

Tip: Choosing the right technology and equipment requires research and planning.

Step 9. Staffing and Training

Building a skilled and motivated team for your supermarket business and ensuring they have the knowledge and skills necessary to provide excellent customer service and efficiently manage store operations is paramount in the supermarket business.

Some of the ways effective staffing and training contribute to the success of your supermarket are;

Improved customer satisfaction through friendly and knowledgeable staff.
Smooth and efficient store operations.
Reduced errors in transactions and inventory management.
Increased employee morale and motivation, leading to better job performance.

That being said, below are the must staffs that every supermarket must have;

Stock Clerks
Shelf Attendants
Store Managers

While tha training of the staffs should focus on; Customer service, product knowledge, and store operations:

Tips; When hiring, look for candidates with relevant experience, strong interpersonal skills, and a genuine interest in customer service.

Regular feedback from employees and recognition of employees by name can also boost employee engagement and loyalty.

Step 10. Security and Safety

You have to implement measures to protect both your customers and staff while also safeguarding your inventory and assets. -That is the essence of the security and safety measures.

The Security Measures include:

CCTV Cameras: Closed-circuit television (CCTV) cameras should be strategically placed throughout the store to monitor activity. They deter theft, vandalism, and other unauthorized activities. CCTV footage can also be used for investigations if incidents occur.
Alarm Systems: Alarm systems include intrusion alarms, motion detectors, and door/window sensors. These systems alert you and the security personnel in case of unauthorized access or break-ins.
Security Personnel: Employing trained security personnel also helps prevent theft and maintain a safe shopping environment. They can monitor the store, check receipts at exits, and respond to security incidents.

Implementing security and safety measures offers several benefits such as:

Crime Deterrence: Visible security measures discourage criminal activities, protecting your business and its stakeholders.
Loss Prevention: Preventing theft and shrinkage helps maintain profitability.
Enhanced Customer Confidence: A secure environment creates a positive impression on customers, making them more likely to return.
Employee Well-being: Security measures also ensure the safety of your employees, contributing to their job satisfaction and morale.

Security Tip: When designing your security strategy, consider factors such as the layout of your store, high-risk areas, and the number of security personnel needed.

Step 11. Secure Funding

Due to the extensive processes involved in starting a supermarket business in Nigeria, it’s possible that your budgeted capital might prove insufficient for your anticipated expenditures, even after thorough business plan research. Occasionally, the projected costs in your business plan could be lower than the actual expenses incurred. The primary factor contributing to this miscalculation is inflation.

Should you find yourself in a situation where you realize that your available capital falls short of the required amount to establish your supermarket business in Nigeria, seeking additional funding becomes a prudent and strategic decision.

Below are funding options to explore;

Personal Savings
Crowdfunding

Don’t just accept any funding option rather choose the funding option that aligns with your financial situation, business goals, and risk appetite.

It’s advisable to consult financial experts and consider seeking professional advice before finalizing and making an external funding decision.

How to Get Loan From UBA Bank
Federal Government Loans for Small Business in Nigeria
How to Get a Loan to Start a Business from the Government
How to Get a Loan to Start a Business in 11 Steps

Step 12. Marketing and Promotion

Marketing and promotion of your supermarket business in Nigeria is all about strategies and activities you should undertake to promote your supermarket business, attract customers, and build brand awareness. This is crucial for creating a strong customer base and ensuring the success of your business.

Mainly, effective marketing and promotion strategies help your supermarket stand out in a competitive market.

Here are effective strategies used to market and promote supermarket business in Nigeria;

Creating a Brand Identity: Such as your store’s name, logo, colors, and overall visual style.
Utilize Online Presence to reach a wider audience.
Utilize Local Advertising Channels: Such as newspapers, radio, and community bulletin boards to reach your local audience.
Digital Marketing : Online advertising tools like Google Ads to target potential customers searching for products you offer.
Influencer Marketing: Collaborate with local influencers who align with your brand to reach their followers and gain credibility.
Promotions Strategies: Offer limited-time discounts, buy-one-get-one (BOGO) deals, bundle offers, or free samples to entice customers to visit your supermarket.
Loyalty Programs: Implement a loyalty program that rewards frequent shoppers with discounts, exclusive offers, or points redeemable for future purchases. This encourages customer loyalty and repeat visits.
Special Offers: Plan seasonal or themed promotions to keep customers interested and engaged throughout the year. This could include holiday sales, back-to-school offers, or summer discounts.

Just so you know, marketing and promotional strategy are more effective when you first understand (that is know) your target audience.

By Continuously monitoring and adapting your marketing strategies based on customer feedback and changing market trends you can ensure ongoing success.

KEY RESOURCES:

How to Start a Business in Nigeria in 9 Easy Steps
The Complete Guide: How much does it Cost to Start a Business?
The Ultimate Guide: How to Start a Business in 11 Simple Steps
How to Register a Business Name in Nigeria in 7 Easy Steps
How to Write a Business Plan
32 Most Profitable Business in Nigeria
How to Start a Ecommerce Business
How to Start a Mini Importation Business in Nigeria (EASY GUIDE)

Final thoughts on starting a supermarket business in Nigeria

Starting a supermarket business in Nigeria requires careful planning, thorough research, and strategic execution. From determining your scale of operation to securing funding and implementing effective marketing strategies, they all play a crucial role in the overall success of your business.

In addition to the aforementioned steps; Maintaining a customer-focused approach will establish you a thriving supermarket business that meets the needs of your local community, attracts a loyal customer base, and contributes positively to the Nigerian retail industry.

Remember, adaptability and continuous improvement are key as you navigate the dynamic and competitive supermarket business landscape in Nigeria.

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Are supermarkets a good investment?

Supermarkets is a good investment under the right circumstances, but like any business venture, they come with their own set of opportunities and challenges. Whether a supermarket is a good investment for you depends on various factors, including your business acumen, market conditions, location, competition, and the strategies you implement.

What is the most profitable supermarket?

These are the currently most profitable supermarkets in Nigeria: Shoprite, Grand Square, CCD Superstores, Park ‘n’ Shop, SPAR Nigeria, Ebeano Supermarket, Hubmart, Addide Supermarket, Market Square, Justrite Superstore, Philhallmark Supermarket, and Mallmart Supermarket.

What is bigger than a supermarket?

A hypermarket is generally considered to be larger than a standard supermarket. A hypermarket is a type of retail establishment that combines elements of a supermarket and a department store. It offers a vast range of products, including groceries, clothing, electronics, household items, appliances, and more, all under one roof.

Are small supermarkets profitable?

Yes, small supermarkets is profitable if they are well-planned, managed efficiently, and cater to the needs of their target market. The profitability of a small supermarket mainly depends on various factors, including location, quality product selection, pricing strategies, customer service, and operational efficiency.

Is it hard to run a supermarket?

Yes it is hard to run a supermarket business. But the rewards and satisfaction of serving the community and building a profitable business outweigh the difficulties of running a supermarket business.

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Business Idea

9 How To Start A Grocery Business

March 20, 2024

Grocery Business : Here, i will be discussing with you how To Start A Grocery Business In Nigeria.

Grocery stores are the small provision shops (primarily run by Igbo Traders) where you buy beverages and other provision items in your area.

They are very useful, so much that life could be miserable in a community where there is none.

Do you know how to start Grocery store business in Nigeria?

Starting a grocery store in Nigeria is very simple.

I will explain the process in this article but before then let’s look at the benefit of grocery stores in most parts of Nigerian communities. Read more…

WHAT YOU NEED TO START A GROCERY BUSINESS IN NIGERIA

1. grocery business: a shop..

Rent a shop in good area.

Any place many people are living is a good location.

The size of shop you shop depends of the amount of money in your hands and how big you wants to start.

Be selective and try to get decent one in a strategic location.

Shops are not too costly in the neighborhoods, N60,000 to N100,000 will get you a decent single shop.

If you are going for double shop as some people prefers, you budget N120,000 to N200,000.

Having paid for the shop, you furnish it to taste. Furnishing includes

3. Grocery Business: Store Self.

There are diverse kinds of store self,

Some are made of woods other are made of aluminum, while some are made of iron.

The wooden is the favored and the most generally utilized.

Furthermore, you have diverse sorts of wooden self.

Some are neatly complete with finished materials while other are swiftly done.

Your decision matters in such manner.

4. Grocery Business: Tables.

Probably maybe a couple tables might be alright relying upon the measure of your shop.

The most essential is the clerk’s table.

You may do extra maybe a couple tables for product show.

See related: Top 50 Store Management Business

5. grocery business: painting..

You have to paint your shop with astounding paint.

At the point when a shop is all around painted and floor tires settled.

It averts ants, creepy crawlies, and rodent from invaliding your grocery store.

6. Grocery Business: Installation of lights.

light is critical in a business premises.

It helps you rapidly observe where the products are during the evening and rapidly connect for them.

At the point when a shop is all around lit up, it draws in more clients.

7. Grocery Business: Air conditioner.

Air conditioner helps preserve your goods and keep some unwanted invaders away.

Customers are more at peace shopping in a grocery shop that is made conducive with AC.

So, try and install at least one.

8. Grocery Business: Iceboxes.

Refrigerator is an unquestionable requirement in a grocery shop to keep your sodas and juices cool.

Nowadays, nobody purchases beverages and juices that are not icy.

In a situation that you plan to offer beverages, juices, and unadulterated water, you should get a fridge.

Must see: 42 Wholesale and Distributor Business Plans

9. grocery business: stock your shop with goods..

With all these set up, the following and last stride is to continue to the market

And purchase your merchandise.

The discount costs are settled in wherever where the grocery things are sold.

In discount however a few merchants offers a few things somewhat higher.

Or lower, the costs are generally the same.

You can get the arrangement wholesalers in most real markets in Nigeria.

After you have set up your shop,

You will get supply from makers of a few merchandise who more often than not go from boulevards to avenues providing shops.

That is all it takes to begin this business.

Or, you want us to help you set up this business, kindly contact us.

Otherwise, Please check out these other business ideas you can do

Ekemini Ekpo

Ekemini Ekpo began writing professionally in 2012. Till date, this stylish Nigerian writer and a graduate of Computer Engineering based in Uyo has horned laudable strides in Article/Blog Contents Development and Management. Creative writings, Article Re-writings, Blog/Website Post Developments, ghost/guest writings as well as proofreadings & editings are his specialties. He also handles technical papers such as Term papers, Book Reviews, Seminars, Proposals, Projects and Mini-projects, e-zine, story developents etc. He has worked as an independent author, as well as collaboratively in the production of so many jobs.

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How To Start A Supermarket In Nigeria

Despite the ups and downs of the economy, people will always continue to buy food and other necessities. A supermarket is one of the most popular nationwide business ideas of the past few years. Here is how to start a supermarket business in Nigeria .

Start a successful business in Nigeria with Jiji

1. Create a supermarket business plan

When starting a supermarket, business plan is the first and most crucial step of the process. A grocery store business plan allows you to create a detailed guide to starting and managing your business.

Writing a business plan on your own may be difficult, but luckily there are plenty of professional business plan writers that can help. At this stage you also need to conduct a feasibility study – in other words, investigate whether your business will be profitable under the current circumstances.

2. Become official

So how to start a supermarket in Nigeria the 100% legal way? The key is to register your business with the officials. Your supermarket needs to obtain all necessary permits and licences well before it opens the door for the first customers.

3. Find the right facility

With a supermarket, the size of your facility matters as much as the location. If you’re not absolutely confident you can find the right place to start a supermarket, you can hire a real estate agent to help you.

Typically, the location of a supermarket must meet three criteria:

It should be situated in a popular location with plenty of foot traffic, houses, and business spots.
It needs to be located far enough from other supermarkets and provision stores to not face stiff competition.
It should have a big parking lot to easily accommodate large number of buyers who arrive by cars.

4. Look for suppliers

When planning how to start a mini supermarket , pay special attention to choosing the suppliers: the diversity and quality of the products you sell will determine the success of your business. The most common supermarket items list includes the following goods:

Fresh food stuff;
Frozen food stuff;
Toiletries;
Household items;
Baby care items;
Pet care items;
Beauty products;
Kitchen supplies;
Clothing and accessories.

Depending on the location of your supermarket, you can also add specific categories of goods to the list of items your supermarket carries. For example, if your store is located near schools or business centres, you can make a profit from selling stationery.

5. Organize the shelves

One of the most important things to know when learning how to start a supermarket is that the way you arrange your shelves and the goods on the shelves can have a huge impact on your sales. There are plenty of marketing researches regarding the correct placement of shelves that you need to study!

6. Hire and train your stuff

Unlike a small provision store, a supermarket cannot function with just 2 or 3 employees. At the very least, you will need cashiers, salespeople to arrange the goods on the shelves and restock them when needed, a store manager, and security. Additionally, you will need a cleaner and possibly an accountant.

7. Advertise your supermarket

When you are finally ready to launch your new supermarket, there is nothing more hurtful than opening its doors for the first time and only getting a few customers per hour.

To avoid this situation, make sure to raise awareness of your new supermarket before you launch it. You can use flyers, newspaper advertising, or announce the opening on the internet. Then your job is to do everything right, and if the customers like your business, the word-of-mouth marketing will keep your business afloat for years.

Launch your successful business with the Jiji app

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My name is Inna. I am a content writer with an English and literature background. As a mother of a 4-year old son, I love learning about children’s health and development, as well as finding new interesting toys and activities for my little one. I am also in love with all things tech and always keep my finger on the pulse of new smartphone and gadget releases. Another big passion of mine is beauty and makeup – every day I read about new trends in skin care and makeup and always look forward to trying them. Plus, I love pop culture, travelling, crafts, and anything that can make our daily life more thrilling!

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How To Start Supermarket Business in Nigeria or Africa: Complete Guide

How To Start A Lucrative Supermarket Business In Nigeria or Africa: Complete Guide | Image: Pixabay

See Also : How To Start A Lucrative Cocoa Farming Business In Nigeria: The Complete Guide

What Is A Supermarket?

What Is A Supermarket Business?

See Also : How To Start A Lucrative Egg Hatchery Business In Nigeria: The Complete Guide

Business Opportunities In Supermarket Business In Nigeria And Around The World

The supermarket business comes with several other job opportunities, including the following:

1). Cashier Services:

2). Delivery Services:

3). Cleaning And Janitorial Services:

4). Security:

5). Café Operations:

Some supermarkets choose to spice things up by creating an added section for cafe services. This could also be a job opportunity for cafe operators.

Facts And Benefits Of Supermarkets

Supermarkets offer a variety of products and commodities, including foods and household items.
Supermarkets make it easy to do all your shopping at one spot.
Prices of commodities in supermarkets are relatively lower than prices elsewhere because supermarkets have a larger buying power since they buy directly from manufacturers.
Supermarkets operate on self-service, which makes it comfortable for customers because they buy without pressure.
China, USA, India, Japan and Brazil are countries with the highest revenues from the supermarket industry.
Supermarkets offer quality products from trusted manufacturers.
Customers are not compelled or deceived into picking items that they do not want.
Supermarkets are often located in busy areas.
In Nigeria, major cities and towns such as Port-Harcourt, Lagos state, Abuja, Benin City and Kaduna are some of the areas with the largest concentration of supermarkets.
Supermarket business gives no room for debts or credit.
Supermarkets do not involve needless haggling of prices of commodities.
A Netherlands policy holds that if there are four people in the checkout lane and the points are not open yet, you get your groceries for free.
In Rhode Island, it is prohibited for supermarkets to open on Thanksgiving.
In Europe, there are platforms for people to buy goods discarded from regular supermarkets. These platforms are called social supermarkets.
An average person spends 43 to 45 minutes at the supermarket on each visit.
People shop more on Saturdays than on other days.
About 25% of grocery income is made from the sales of processed sweets.
According to reports, if you go to the supermarket when you’re hungry, you’ll likely spend more money on items that contain calories.
On weekdays, people shop more within 4pm and 5pm.
Only 3% of shoppers buy groceries online.

See Also : How To Start A Lucrative Shea Cake Business in Nigeria: The Complete Guide

Types Of Supermarkets

Beyond this, supermarkets can be classified into two:

1). Traditional Supermarkets:

These are the regular supermarkets located at busy spots of towns and cities and require your physical presence to make your purchase.

2). Online Supermarkets:

Also known as e-supermarkets, online supermarkets are just gaining grounds in some parts of the developed world. As of now, only about 3% of shoppers prefer to use digital supermarket platforms.

How To Start A Lucrative Supermarket Business In Nigeria: Step-By-Step Guide

1). create a business plan:.

2). Get a Business Site:

3). Set Up The Supermarket:

The next stage is to set up the supermarket with the required facilities, including cashier’s desk and chairs, shelves, security devices, labels, price tags, baskets and trolleys, etc.

4). Employ Staff:

5). Connect With Manufacturers And Wholesale Distributors And Stock Up:

6). Register Your Business:

For smooth and undisturbed operation, you should register your business with the Corporate Affairs Commission.

7). Run Advertisements:

See Also: How To Start A Lucrative Frozen Shrimps And Prawns Business In Nigeria: The Complete Guide

Challenges Of Supermarket Business In Nigeria

High startup costs
Maintaining a supermarket business could be expensive and demanding.
Supermarkets are not available to people in small towns and villages.
Erratic power supply in most parts of Nigeria.
High risk of robbery attacks.
Distrust between supermarket owners and employees
Most commodities cannot be sold in bits.
Poor road network makes delivery difficult and expensive.
Difficulty in reaching across to manufacturers outside the country.
High shipping costs.
High costs of rents in major cities.

See Also: How To Start A Lucrative Sesame Cake Production Business In Nigeria: The Complete Guide

To Sum It Up

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Supermarket Business Plan (PDF, Excel, Word)

Description.

Executive summary
Company overview
Products and services
Operation plan
Market and industry overview
Sales & marketing plan
Financial plan
Risk management plan
Potential funding sources

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Sample Supermarket Business Plan in Nigeria PDF & DOC (DOWNLOAD)

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Sample Supermarket Business Plan in Nigeria PDF & DOC (DOWNLOAD)

EXECUTIVE SUMMARY

Nigeria has an estimated population of over 198 million individuals. This population is expected to rise to 250 million by 2050. Every business minded individual knows that a rise in population means improved income.

Read: Get your Supermarket Business Plan in Nigeria

It is not surprising to find supermarkets in almost every alley and street in major cities within the country. The only differentiating factor among these supermarkets being the size and number of commodities sold. These factors are usually dependent on the amount of capital at the disposal of the entrepreneur. Most Nigerians, especially those living in metropolitan cities, visit supermarkets for their daily needs. These supermarkets have in stock different kinds of materials ranging from food products to laundry materials and beauty care products amongst others.

Lagos undoubtedly accounts for the highest number of supermarkets in the country. This should not be surprising considering the high population of the State. Lagos State is the most populous State in Nigeria with an estimated population of almost 20 million inhabitants. According to studies carried out by Accenture, Nigeria has attracted top supermarket franchises in the world like Walmart and Shoprite. The study presents that Nigerian citizens will be spending about 13.9 trillion Naira on non-durable goods by 2020.

Supermarkets are usually run by the entrepreneur who started the venture or sometimes leased out to be run by other individuals. In Nigeria most supermarkets sell a couple of products which are out of the regular supermarket stock like medicines, electrical supplies, clothing materials, etc. Statistics show that Lagos has the highest number of supermarkets in the country. Regardless of this statistics it is evident that the population of the city far outweighs the number of supermarkets. There is still a huge chasm between the number of supermarkets and the population of the city. This shows that there is a major need for more supermarkets to set up in different parts of the metropolitan city.

Our supermarket is committed to satisfy customers by way of providing a wide scope of high quality and competitively priced products as well as excellent customer service. To achieve this we need an initial capital outlay of #7,700,000.

OVERVIEW OF THE SUPERMARKET INDUSTRY IN NIGERIA

When the name Nigeria is mentioned anywhere in the world, the thought of oil boom and petrodollars floods minds. Asides the oil present in the country, a major resource in Nigeria is the constantly growing population. Presently the country is the most populous black nation boasting of a population of 198 million individuals. This population is expected to rise to 250 million by 2050. Every business minded individual knows that a rise in population means improved income.

The last two decades has seen a rise in supermarkets stocking foreign products but certain government policies and a growing desire for locally made products has caused supermarkets to focus more on Nigerian made products. These supermarkets are beginning to procure processed foods from Nigerian companies that get their raw materials from local farmers. This simply implies that slowly but steadily the Nigerian retail industry is growing to become a major part of the country’s economy. An evidence of this is the consistent rise of stores in different parts of the country. Definitely the market is not in Lagos alone as some will think.

Several factors have contributed to the rise of retail stores, otherwise known as supermarkets in Lagos and indeed Nigeria. One of the major factors is the inflow of young people seeking work and business opportunities in big cities. These young people run to these cities in search of the mythical “greener pastures” and have no choice than to depend on these supermarkets for their daily needs.

Before pressing on it is expedient to quickly discuss what a supermarket is, how the idea came about, characteristics and a few other info in brief.

What is a supermarket?

A supermarket, according to Wikipedia, is a self-service shop which offers a wide variety of products such as food, electrical products and other household needs which are organized in aisles. Another school of thought sees a supermarket as a large scale retail institution, usually larger than a simple grocery store, which specializes in convenience and necessary goods. A supermarket is usually a departmentalized store which is separated into four departments. These departments usually include but are not restricted to the following:

Self-service grocery
Meat produce
Dairy products
Other household needs.

A brief history of supermarkets

Supermarkets originated in the United States of America just after the Great Depression which occurred in the 1930s. Originally supermarkets were established by independent merchants who dealt majorly in food produce. Most of the food produce in those days were fresh, bought from farmers and sold off almost immediately. The major characteristic which differentiated these stores from regular grocery stores was the absence of sales personnel. All they had was a receptionist who collected payment for goods purchased.

Also Read: How to Start a Supermarket Successfully (Plus Business Plan)

The products were arranged in shelves separated by aisles to allow for customers to walk through and pick up their desired products. Most supermarkets were equipped with baskets or trolleys to be used by the customer for ease of movement of the products from the shelves to the receptionist’s desk. Once the customers are done with picking the commodities from the shelves, they proceed to the payment point where the receptionist weighs the goods or views the price tag attached. This singular reason gave supermarkets the reputation of self-service stores since the customers serve themselves and make payment when they are done.

Several supermarket models have been developed from this initial model and they have grown the retail store industry to be one of the most lucrative in the world.

Characteristics of supermarkets

They are usually located in major shopping centers in busy parts of a city. These shopping centers are usually equipped with large parking spaces. This is not to say that smaller supermarkets are do not exist especially in small cities. As stated earlier the size of the supermarket is usually dependent on the capital outlay of the entrepreneur.
Supermarkets do not offer any credit, rather they run on a cash and carry basis.
There are usually no selling counters or selling attendants to assist customers. Customers have to serve themselves till they need to pay.
Supermarkets are usually stocked with a wide variety of products both food and non-food inclined. The most popular commodities stocked by supermarkets are canned foods, meat and dairy products, bakery items, vegetables and other household necessities.
They are usually large. They might not start that way but with consistency and proper management measures, they grow to become a very useful channel of distribution for manufacturers.
Since no sales attendants are not employed, the supermarkets usually have a low sales overhead.
Products are usually stored on racks or shelves for easy access by customers. The shelves are arranged in aisles for easy traffic within the store.
It is among the leading retail methods in Nigeria today.
Contrary to what most people think, purchasing commodities in supermarkets is quite cheaper than what is obtainable outside.

Advantages of supermarkets

There are several advantages of supermarkets both to the entrepreneur and the customers. Enumerated below are a few of the most observable advantages:

There is usually a large turnover due to the number of products that they have in store.
They usually have low overheads, majorly sales overheads. Overheads are usually the expenditure that cannot be traced or easily identified. This advantage is based on the principle of operation which eliminates the sales persons.
Prices are usually low for the customers but the supermarkets enjoy huge profits due to rapid turnover.
Supermarkets are always situated in very accessible areas. This makes it easy for customers to make purchases with ease.
Entrepreneurs enjoy economies of large scale operation.
The buyer has freedom to decide what products to buy without fear of coercion or interference from sale persons.

Disadvantages of supermarkets

Just as there are several advantages of supermarkets, there are also quite a few disadvantages. These apply to both the buyer and the seller.

Supermarkets usually require large premises and huge capital for optimal operation.
Customers may not enjoy demonstration of the use of certain products by sales persons. Such products are usually not stocked by supermarkets.

Factors to consider in starting a supermarket

There are several factors that the entrepreneur needs to consider before setting up a supermarket. A few of the key factors will be discussed briefly below:

Location . The location is where the supermarket will be sited. It is no news that the location of a business will determine to a large extent the success of any business. A supermarket will need to be sited in a place with above average human traffic. The more people can see the supermarket, the better the chances of making sales. The supermarket should also be set in an accessible area. More accessibility means more sales and thus more profit.
A warehouse . It is important to get a small warehouse where goods can be stored before they are placed on the shelves for purchase. This is necessary to ensure that the store does not go out of stock.
Shelves . This is one of the major characteristics of supermarkets. The shelves are important for ease of access buy customers. The goods are displayed on the shelves and the shelves are labeled accordingly. It is always important to label the shelves so the customers know where to find what and how much each product costs.
Getting your products . Seek out reliable suppliers for each product. The products must be gotten at the best prices in the market and the supplier must provide them when needed. The major products sold in Nigerian supermarkets are:
Wear accessories such as sunglasses and watches
Notebooks and stationary
Food stuff (fresh)
Food stuff (frozen)
Household items
Electronics and appliances
Kitchen supplies
Fashion and beauty products
Simple tools such as scissors

This business plan is incomplete. To get the complete sample supermarket business plan in Nigeria PDF today, pay N10, 000:

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How To Start a Grocery Store Business In Nigeria

Table of Contents

Introduction.

Starting a grocery store business in Nigeria can be a lucrative venture, given the high demand for food and household items.

With a population of over 200 million people, there is a constant need for groceries, and this creates an opportunity for entrepreneurs to provide these essential goods to their communities.

However, starting a grocery store business requires careful planning, research, and understanding of the local market to ensure success.

In Nigeria , the grocery store industry is highly competitive, and as such, new entrants need to develop a unique selling proposition that sets them apart from the rest.

This could be by offering a wider range of products, providing home delivery services, or creating a loyalty program for customers.

To start a successful grocery store business , you need to identify your target market, choose a suitable location, and develop a sound business plan that outlines your goals, financial projections, and marketing strategies.

It is also essential to comply with all regulatory requirements and obtain the necessary permits and licenses from relevant government agencies.

These include registering your business with the Corporate Affairs Commission (CAC), obtaining a tax identification number (TIN), and meeting health and safety standards set by the National Agency for Food and Drug Administration and Control (NAFDAC).

In summary, starting a grocery store business in Nigeria requires thorough planning, an understanding of the local market, and compliance with regulatory requirements.

With the right strategy, hard work, and determination, you can build a successful grocery store that provides value to your community and generates significant profits for your business .

What is a Grocery Store?

A grocery store business is a retail establishment that sells food and household items to consumers.

These stores typically offer a wide variety of products, including fresh produce, meats, dairy products, packaged and canned goods, and other everyday essentials such as cleaning supplies and toiletries.

Grocery stores can be found in various formats, including supermarkets, neighbourhood markets, speciality stores, and online stores.

They may also offer additional services such as home delivery, in-store bakery and deli, and loyalty programs.

The primary goal of a grocery store is to provide consumers with convenient access to essential items while offering competitive prices and high-quality products.

To succeed in the grocery store business , entrepreneurs must have a good understanding of the local market, and their target customers’ needs, and preferences.

They must also stay up-to-date with trends in the industry and continually adapt their product offerings to meet changing consumer demands.

Grocery stores play a crucial role in communities, providing essential items to households and contributing to the local economy.

Why Should I start a Grocery Store Business In Nigeria?

Starting a grocery store business in Nigeria can be a profitable venture with many benefits. With a growing population and an increasing demand for food products, there is a constant need for grocery stores to provide basic household items. Here are some of the benefits of starting a grocery store business in Nigeria :

1. High Demand for Food Products.

The demand for food products is constant, and as such, the grocery store business in Nigeria is always in demand.

Nigerians need groceries to feed their families, and this demand creates a constant flow of customers to the grocery store.

2. Potential for High-Profit Margins.

The profit margin in the grocery store business can be high, especially if the business is well-managed. Groceries are daily necessities, and as such, customers are willing to pay a premium for quality products.

With good pricing strategies and efficient inventory management, a grocery store business can be very profitable.

3. Opportunity for Growth and Expansion.

Starting a grocery store business in Nigeria can provide an opportunity for growth and expansion. Once the business is established, the owner can consider opening additional stores in other locations or expanding the product range to include other household items.

4. Job Creation.

Starting a grocery store business in Nigeria can create job opportunities. The store will require staff to help with running the business , such as cashiers, sales associates, and possibly a manager. By providing employment opportunities, the business can contribute to the economic growth of the community.

5. Contributing to the Local Economy.

Starting a grocery store business in Nigeria can also contribute to the local economy. By sourcing products locally, the business can support local farmers and suppliers.

In addition, the business can generate revenue that will be spent locally, contributing to the growth of the local economy.

6. Providing Convenience to Customers.

By starting a grocery store business in Nigeria , you can provide convenience to customers. With a well-stocked store, customers can get all the groceries they need in one location. This will save them time and effort in going to multiple stores to get their groceries.

7. Supporting the Health and Wellness of the Community.

By providing fresh and healthy food products, a grocery store business in Nigeria can support the health and wellness of the community.

With increasing awareness about the importance of healthy eating, there is a growing demand for fresh and organic products. A grocery store that provides such products can contribute to the health of the community.

How do I start a Grocery Store Business In Nigeria?

Starting a grocery store business in Nigeria can be a profitable venture if done correctly. With a growing population and an increasing demand for food products, there is a constant need for grocery stores to provide basic household items.

However, starting a grocery store in Nigeria requires careful planning and execution to ensure success.

Here are some steps to follow when starting a grocery store business in Nigeria :

1. Conduct Market Research.

The first step in starting a grocery store is to conduct market research. This will involve identifying the target market, competition, and demand for the products you want to sell.

You should also consider the location and accessibility of the store, as well as the type of products that will appeal to customers in the area.

2. Develop a Business Plan.

After conducting market research, the next step is to develop a business plan. This will include your mission and vision, target market, products to sell, pricing strategy, and marketing plan.

Your business plan should also include a financial projection that outlines the initial investment required, expected revenue, and profit margins.

3. Register the Business.

Before starting a grocery store, it is important to register the business with the Corporate Affairs Commission (CAC) in Nigeria . This will give the business a legal standing and protect it from any legal issues that may arise.

4. Secure a Location.

The location of your grocery store is critical to the success of your business . Look for a location that is easily accessible and visible to customers.

You should also consider the size of the store, as well as the availability of parking space for customers.

5. Source for Suppliers.

After securing a location, the next step is to source for suppliers. You will need to identify reliable suppliers who can provide you with the products you need at a reasonable cost. You can source for suppliers from local markets, wholesalers, or manufacturers.

6. Stock the Store.

Once you have secured suppliers, you can start stocking the store. It is important to have a variety of products that will appeal to different customers.

You can also consider adding complementary products such as toiletries, cleaning supplies, and other household items.

7. Hire Staff.

You will need to hire staff to help with running the store. This will include cashiers, sales associates, and possibly a manager.

When hiring staff, consider their level of experience, skills, and attitude towards customer service.

8. Market the Store.

Finally, you will need to market the store to attract customers. This can be done through traditional advertising methods such as flyers and posters, as well as through social media and other digital marketing channels. You can also consider offering promotions and discounts to attract customers.

Conclusion.

Starting a grocery store business in Nigeria can be a rewarding venture with many benefits. With a constant demand for food products, high-profit margins, potential for growth, job creation, and support for the local economy, a grocery store business can be a valuable addition to any community.

Finally, Starting a grocery store business in Nigeria requires careful planning and execution. By following these steps, you can set up a successful grocery store that meets the needs of customers in your area.

What do you think?

Written by Udemezue John

Hello, I'm Udemezue John, a web developer and digital marketer with a passion for financial literacy.

I have always been drawn to the intersection of technology and business, and I believe that the internet offers endless opportunities for entrepreneurs and individuals alike to improve their financial well-being.

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How To Start Provision/Grocery Store Business In Nigeria (2024)

by Ezeh Emmanuella

This post is about how to start a profitable provision store business, also known as a grocery store, in Nigeria currently in this year 2024. If you have ever thought of starting a provision/grocery store business or a mini supermarket in the country and you do not know how to go about starting it, do not worry as we have written this article just for you. Do kindly read through this post in order to digest all the valuable information that you will need to set up your provision store.

How To Start Provision Store Business In Nigeria

A provision or grocery store business in Nigeria is very lucrative especially as our population is ever increasing. Many families in Nigeria buy provisions almost always and because the demand for grocery products is always on the rise, if you venture into this business, you stand a real chance of making it big.

You must however, ensure to properly understand how the provision business works before you start up your own business in this line and since you are not the only one with this business idea, you should do well to get the right orientation of the business to know its ins and outs, as well as its merits and demerits in order to be fully and properly prepared for your journey into the grocery business industry.

As we continue, we will provide you with useful information on how you can successfully start up your provision or grocery store business in Nigeria irrespective of the competition and challenges that you may encounter along the way. We will also provide you with a comprehensive list of items that are needed in order to start up a provision store in Nigeria.

HOW TO START PROVISION/GROCERY STORE BUSINESS IN NIGERIA 2024: STEP BY STEP PROCESSES

The following are the step by step guide on how to start up a provision or grocery store business in Nigeria this 2024:

CONDUCT A FEASIBILITY STUDY FOR YOUR PROVISION STORE BUSINESS

Conducting a feasibility study for your provision store/grocery business is very important as it allows you to understand in detail the nature of the business before starting it. Understanding how the business works is very fundamental to your success when you finally venture into it.

If you are only focused on the provision store business, it means that your focus will be strictly the sales of provisions alone without adding perishable goods like fruits, meat, grains, vegetables, etc, to your stock. As a provision store business person, you can either become a wholesaler or a retailer but many of the people doing this business are retailers who sell directly to the final consumers. In order to become a retailer you will need to discuss with wholesalers who will supply you with your goods at discounted rates.

If you however, decide to become a wholesaler of provision products, you will need to directly contact the producers of your goods in order to negotiate and strike up an agreement on how your goods should be supplied and what days they should be supplied in very large quantities at a price that sits well with you and the producers.

Also, you may decide to take your provision store business to a higher level by making it a grocery store or mini supermarket business. As a grocery store or mini supermarket owner, you have added dairy products, staple foodstuffs, meats, produce, etc to the sales of your provisions or household supplies.

You can also decide to go all out and become a large scale supermarket business owner like the likes of Shoprite , Prince Ebeano Supermarket , Addide , SPAR , CCD , to mention but a few.

After deciding upon the type of provision store business you want to run, you will need to also decide on the items to purchase in order to stock up your shop and at a particular quantity so as to allow space for other items as well.

Endeavour to look out for products that are self selling and stock up your shop with them. Irrespective of how many companies produce similar products, go for the one that sells the most, and buy other similar products in lower quantities in order for you to understand consumer behaviour and the buying preferences of your customers better. This will help you to understand what quantities to purchase for your provision store business in the future.

Are you going into this business as a retailer? Then you should find yourself some trusted wholesalers that will help you identify fast/self selling consumer goods. Ensure that you listen attentively to the responses of the wholesalers concerning particular products and compare each response so as to make up your mind on which product you will purchase to get your provision store business up and ready.

You should also take out time to study your competitors and their activities in order to be well placed to succeed in this provision store business in Nigeria. This will help you decide on the dos and don’ts of your business and it can go a long way to help with your customer retention.

DRAW UP A BUSINESS PLAN FOR YOUR PROVISION/GROCERY STORE BUSINESS

You should make sure to draw up a good business plan that will help you succeed in the provision/grocery store business in the long term. This is what a good feasibility study does; it helps you with the necessary information that will help you shape up your business plan and set you up for success. Make certain that you really have a good understanding of your potential customers and competitors before proceeding to draw up a business plan.

Have a good understanding of your target market because as a provision/grocery store business owner, you will be providing your services to the entire neighborhood in your area. They are your target market, so make sure that people of all ages are factored into your plan before you commence your business. You must have done your homework in this provision business before drawing up your business plan.

Your business plan helps you to clearly define what aspect of provision business you want venture into, the size of the business, and how do you intend to compete favourably with those that have gone into the business before you.

In the business plan for your provision store business, you should consider the following:

Your customers’ background
Your provision/grocery store business location
The standard of living of your potential customers
The products that your potential customers love to consume
How often they buy these products
Lastly, you should devise a plan on how to retain your customers when you eventually venture into the business.

Your customers preferences largely determine what type of products you should stock up for your provision business. Do not stock products you feel they will get used to, you may be setting yourself up for failure; make sure you study your customer behaviour and how often they purchase a particular product and endeavour to stock your shop with those products. This is very important for your business and it can never be overemphasized.

Also make plans to periodically check your inventory so as to identify the products that have been in your shop for more than one month. This will help you reduce the number of that particular product when next you are making a purchase to stock up your shop.

MAKE AVAILABLE THE CAPITAL NEEDED FOR YOUR PROVISION STORE BUSINESS

The next stage after conducting your feasibility studies and drawing up your business plan is to make ready your capital for your provision store business. This should serve as your budget for starting up this business. Certain factors determine the amount of capital needed to start your provision store business in Nigeria such as the location of the business, the size of the business, the number of employees you intend to hire if any.

If you intend to start up a small scale provision store, the capital required for this is anything between ₦100,000 – ₦200,000 or more, depending on the cost of setting up a kiosk, and the type of consumer goods you want to stock in it. Owning a kiosk is a good way to avoid paying rent but you may need to part with a small fee in order to set up your kiosk on the piece of land that you’re occupying.

The capital for medium scale provision store business can cost from anything between ₦350,000 – ₦500,000 or more if you are renting a shop and stocking it up with the necessary goods required to start up your grocery store. Keep in mind that the cost of renting a shop varies from place to place.

Large scale provision stores such as a mini supermarket require large capitals and you will need between ₦15 million – ₦20 million or more to fully establish your business. If you are hiring workers and putting in place heavy duty generators to power your business, you will need to spend more. Taking a loan from the bank which you’re confident of paying back within the agreed period is advised.

The following are some of the items needed to start up a provision/grocery store in Nigeria

Books for inventory
Wooden shelves
A table or tables with drawers
Shopping bags
Carts (if you own a mini supermarket)
CCTV cameras (for a mini supermarket)
Your consumer goods (The reason you’re setting up the provision business in the first place).

FIND A GOOD LOCATION FOR YOUR PROVISION STORE BUSINESS

Where you locate your shop also matters and as a wise person, you should not go and site your provision/grocery store business next to several other shops in your area that are doing the same business. You may lose badly before even starting and this is because many of the people who started the business in an area saturated with the same services as yours all have their customers.

You cannot compete with them, therefore it is advisable to look for a good place where you will be visible enough to be seen as the leading figure in your line of business. A good location is a very important for your business. You can locate your shop at strategic places in the city centre or a busy place such as a market where a good number of people go to shop there. This will increase your customer base significantly.

FIND CREDIBLE AND RELIABLE SUPPLIERS FOR YOUR PROVISION STORE BUSINESS

It is very important to find the right suppliers for your business. Credible and reliable wholesalers that can supply you at good rates are the people you should be looking out for. You should have at least three credible suppliers so that if for any reason whatsoever, one fails to supply, you can fall on the other two and your business will not be negatively impacted. A great relationship with your suppliers can help you enjoy great benefits in the long term like discounted prices, credit purchase and some incentives at year ends.

STOCK UP YOUR PROVISION/GROCERY STORE

Your target market, their consumer behaviour and the location of the business all determine what you stock up your provision store with. Whatever the case, ensure that you find the right balance so as not to run at a loss.

Provision items that you can stock up your shop with include the following:

Laundry Items

Cold water starch
Spray starch, etc.
Toilet soap
Liquid soap
Tissue paper
Toilet cleaners
Facial cream
Deodorant, etc.

Drinks and Beverages

Soft drinks

Household Items

Light bulbs
Insecticides
Mosquito repellent
Shoe polish
Air freshener, etc.
Cheese, etc.
Chicken pie
Sausage rolls, etc.

Seasoning and Spices

Culinary spices such as cinnamon, paprika, aleppo hot pepper, chili pepper, ground or coarsely chopped pepper, cumin, tumeric, garlic, saffron, cloves, and ginger.
Cooking herbs such as basil, oregano, marjoram, parsley, rosemary, thyme and dill.
Wet blends such as vinegar, ketchup, mustard, tomato paste, etc.

Stationery Items

Razor blade
Cardboard paper
Graph books, etc.

REGISTER YOUR PROVISION STORE BUSINESS

Register your grocery store business with the Corporate Affairs Commission (CAC) of Nigeria in order to be recognized as genuine. You can refer to the link provided to know how to register a business name in Nigeria .

ADVERTISE YOUR PROVISION STORE BUSINESS

Advertising your business through the right channels available can project it farther than your imaginations. Do not stay quiet about your provision/grocery store business but take advantage of the various advertising channels to get across to your potential customers. This is a very important step and should never be ignored.

Because Nigerians purchase household items almost always, this makes provision store business a very lucrative business. Ensure to invest properly in your business if you want to see results and try as much as possible to understand all the basic steps required for establishing a grocery store business before you decide to put your money in it.

As always, our articles are for informational purposes only and they serve as a guide. This information is not absolute and we advise that you take out time to go and make your findings before venturing into provision store business in Nigeria.

Ezeh Emmanuella

Ezeh Emmanuella is an information enthusiast and the Editor of Nigerian Search Guide. She loves to answer search queries on everything Nigeria. She is also the brain behind Ellacious Designs, an emerging fashion brand in Nigeria today.

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August 1, 2022

by Ezeh Emmanuella · Published August 1, 2022 · Last modified December 28, 2023

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Very nice, I really found the information very helpful.. thanks a lot for this write up.

I really found this helpful. I’m a student seeking to be financially independent and as well working towards the establishment of his goals.

God will continue to give you wisdom and understanding thanks very much you’re the best..🥰🥰

I really found this helpful 🙏

WOW!I really found this article so helpful, I’m grateful to God I came across it and I appreciate the writer so much, God bless you real good.

This is really helpful 🙏🙏

Its so helpful and educative. Thanks so much for this information.

I found the right information about how to start provision store business in Nigeria that I was looking for, thanks to the writer for this priceless information. God bless you and more wisdom!

Thank you so much, I’ve learnt a lot.

Really found this very helpful, thank you for listing the items to start with.

Very educative, may God bless the writer.

Thank you so much for this write-up but would have loved for wholesale provision store/grocery business in Nigeria to be talked about more because that’s what I want to venture into. Thank you again.

God bless you o especially for listing the items to start with, I love this information, more wisdom.

Surely mercy of God will follow you,this is really helpful thanks.

Thanks, I really appreciate the above listed items that help me to start the business afresh and the guideline to follow, Almighty God will continue to increase your knowledge and wisdom in Jesus name.

Thanks and God bless you, I really found help from this.

I’m really impressed. It is so useful, thanks.

I’m very glad to read through this article, I never knew there is something like this on the internet. May God bless the author, This is truly helpful.

wow, thanks for this content. this is really going to help me in establishing my foodstuff/grocery business.

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Download Grocery Store Business Plan in Nigeria with Financial Analysis

Looking for a comprehensive Grocery store business plan in Nigeria? Download this template for your startup or existing grocery shop business for your grants, CBN, BOI, NIRSAL application requirements.

This business plan is solely for Imam’s Grocery Store which is located at Yaba, Lagos, Nigeria. You can use this and edit it to suit your business. Read to the very end.

Executive Summary Imam’s Grocery Store is located at Yaba, Lagos, Nigeria. Aiming to meet the needs of every household – whatever that might be- from food items to toiletries to electrical items etc. It is a registered business with a great structure especially created to accommodate the everyday man. We have done our researches and feasibility studies so that we can know how well to serve our clientele. Though we are out to make profits, our priority remains that we exceed our clientele’s expectation at every touchpoint.

Products and Services: We are out to make profits via increasing sales on a steady. Yet, we would work at meeting and satisfying the needs of the residents of Yaba by providing them with the brands they want for any item of their choice – varieties, premium and quality services are very important to us. We make available every kind of product needed in the running of a home.

Some of the products we will provide for the residents of Yaba include:  Food  Drinks – Non- alcoholic and Alcoholic  Drugs etc

Vision Statement: We intend to be the one-stop store for grocery item as well as have a store at major cities in every state in Nigeria.

Mission Statement:

We aim to be that grocery store that will meet every grocery needs of the resident of Yaba, Lagos. We would offer quality and affordable products at all times. We are looking to sell our franchise after been in operation for 15 years.

Business Structure: With the goal to be the one-stop for all grocery items, we do not item to run Imam’s Grocery Store like a normal store. Our vision would therefore only permit us to hire hardworking individuals who possess integrity and selflessness – people who would attend to every customer like they are the only customer. In return, they would work in a friendly work environment and earn well.

Market Analysis:

Grocery store industry has been in existence for such a long time. Still, it has experienced changes with time and technology. Technology has simplified its operations and helped to meet the needs of its customers. As part of its strategies to acquire new customers, grocery stores have clearance sales where items are sold at a far cheaper price.

Sales and Marketing Strategy : Grocery store industry is one of the easiest industries to get into. This has greatly foster competition. To acquire new customers and make a lasting impression worthy of referral on them, practical strategies need to be built. Ours include:

 Price slashes to our first set of customers  Publicity – handbills will be pasted at public areas such as gyms, libraries, hospitals etc  Online media – we would leverage greatly on the internet to acquire new customers

Target Market: Everyone needs a thing or the other from a grocery store. However, not everyone’s need can be met. Hence, we have mapped out our market from the vast target audience the grocery store industry has. Our target market is:  Tourists/ Visitors  Students  Households  Expectant Mothers  Nursing Mothers

Financial Plan:

Source of Startup Capital

We need N500, 000 to start up Imam’s Grocery Store. We have 80% of the capital. We are looking to get a loan from the bank for the rest.

Competitive Advantage The grocery store industry is known for its vast competition. We are fully aware of this. This is why we have a large car garage in our store to accommodate about 120 vehicles at a time. We would also provide our customers with brand and product varieties. This would ensure they will have options as they shop and do not hurry or bother about their car while at it.

How To Download The Grocery Store Business Plan Template PDF (with 3 years’ financial analysis)

Above is a part of the Grocery shop business plan template in Nigerian. In case you need the complete business plan, follow the procedures to download it.

Pay the sum of N5000 ( Five thousand naira only) to the account detail below: Bank: GTBank Name: Oyewole Abidemi (I am putting my name and not our company account so you know we are real people and you can trust us) Ac/No: 0238933625 Type: Saving

Thereafter, send us your email address through text message to +234 701 754 2853 . The text must contain the title of the business plan you want and also your email address. Immediately after the confirmation of your payment, we will send the Grocery shop business plan in Nigeria to your email address where you can easily download it

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It is available and you can get it if you follow the prompt

Grocery Store Business Plan Template

Written by Dave Lavinsky

Business Plan Outline

Grocery Store Business Plan Home
1. Executive Summary
2. Company Overview
3. Industry Analysis
4. Customer Analysis
5. Competitive Analysis
6. Marketing Plan
7. Operations Plan
8. Management Team
9. Financial Plan

Start Your Grocery Store Plan Here

You’ve come to the right place to create your grocery store business plan.

We have helped over 10,000 entrepreneurs and business owners create business plans and many have used them to start or grow their grocery stores.

Business Plan Sample for a Grocery Store

Below are links to each section of your grocery store business plan template:

Next Section: Executive Summary >

Grocery Store Business Plan FAQs

What is a grocery business plan.

A grocery business plan is a plan to start and/or grow your grocery business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your grocery business plan using our Grocery Business Plan Template here .

What Are the Main Types of Grocery Businesses?

A grocery store can either be small scale or large scale. Small format groceries are usually small, family-run stores like a neighborhood store, convenience store, or health food store. Large scale groceries, on the other hand, are supermarkets that offer a wider variety of products and goods sold.

What Are the Main Sources of Revenues and Expenses for a Grocery Business?

The primary source of revenue for grocery stores is its food, beverage and alcohol sales.

The key expenses for grocery businesses are wages, rent or mortgage, cost of products sold, and utilities. Among the other expenses are insurance, equipment maintenance, and marketing.

How Do You Get Funding for Your Grocery Business Plan?

Grocery stores are typically funded through small business loans, personal savings, credit card financing and angel investors. Inventory financing is also common for part of their funding needs.

What are the Steps To Start a Grocery Store?

Starting a grocery store business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Grocery Store Business Plan - The first step in starting a business is to create a detailed grocery store business plan that outlines all aspects of the venture. This should include market research on the grocery store industry, potential target market size, as well as information about the services or products you will offer, pricing strategies and a detailed financial forecast.

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your grocery store . This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your grocery store business is in compliance with local laws.

3. Register Your Grocery Store Business - Once you have chosen a legal structure, the next step is to register your business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.

4. Identify Financing Options - It’s likely that you’ll need some capital to cover your startup costs and launch your grocery store , so take some time to identify what financing options are available such as a business loan from a bank, investor funding, grants, or crowdfunding platforms.

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.

7. Acquire Necessary Grocery Store Equipment & Supplies - In order to start your business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your store . Marketing strategies includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.

Learn more about how to start a successful grocery store business:

How to Open a Grocery Store Business

Where Can I Get a Grocery Store Business Plan PDF?

You can download our free grocery store business plan template PDF here . This is a sample grocery store business plan template you can use in PDF format.

Business Plan Hub

Supermarket Business Plan in Nigeria

August 4, 2020 by admin 9 Comments

Supermarket Business Plan in Nigeria- You want to go into Supermarket Business in Nigeria but you don’t know how to go about it then you are in the right place in this article we are going to tell you how you can start a Successful Supermarket Business in Nigeria all you have to do is follow all that is written here and I guarantee you your supermarket business will be lucrative.

Supermarket Business is a lucrative business in Nigeria at the moment so if you are interested in starting a Supermarket Business in Nigeria this is a great opportunity for you. Supermarket business is a profitable business in Nigeria. If you are about to start the business do not believe you know it all, take my advice because many have gone through that part and fall on the way side that’s why I’m advising you to get our Supermarket Business Plan, the feasibility report on our Supermarket Business Plan will help unlock a lot of important secrets on how to go about your supermarket business and aspects of opening a supermarket in Nigeria

Our expert has done a due thoroughness and have evaluated all the basic requirement needed to start a supermarket business either a mini Supermarket Business or multi large Supermarket Business in Nigeria, we have also carried out the financial analysis of the capital requirement that will enable you start either a mini Supermarket Business in Nigeria or large scale Supermarket Business in Nigeria

We made some research and have evaluated all the basic requirement needed to start a Supermarket, it could be a mini supermarket or multi large supermarket Business in Nigeria we got you covered, we also made so research regarding the financial analysis of the capital requirement that will enable you start either a mini supermarket Business in Nigeria or a multi large supermarket Business in Nigeria

If you are wondering how much do i need to start a provision store in Nigeria all you need to do is get yourself supermarket business plan and all your questions will be answer.

Get our other business plan in Nigeria

Bakery In Nigeria Latest Edition feasibility studies proposal
Cosmetics In Nigeria Latest Edition Feasibility
Sachet Pure Water In Nigeria pdf
Restaurant In Nigeria/ Latest Edition feasibility studies proposal

Supermarket Business Plan In Nigeria has been put together by expert after carrying out series of research and done a due thoroughness to be able to provide guidance on how to one canopen and run a supermarket business in Nigeria. Please note that this business plan has been recently updated. Because it is recently updated you can use the business plan to apply for GRANTS APPLICATION, APPLICATION FOR BANK LOANS, WRITING A PROPOSAL, CREATE A BUSINESS CONCEPT NOTE etc.

Supermarket business in Nigeria is among one of the biggest and most lucrative business at the moment and for as such we have put together all you need, the strategic Planning and implementation of steps to start Supermarket Business in Nigeria.

How To Get Our Supermarket Business Plan in Nigeria

If you are ready to get Supermarket Business Plan in Nigeria Latest Edition you just need to follow the below information and you will get it TO GET Supermarket BUSINESS PLAN IN NIGERIA LATEST EDITION and Financial analysis and feasibility Study manual. Place Order Now, pay N10,000 to

Account Name- Oliver Uwadia

Account No- 3094192129

Supermarket business Plan In Nigeria Latest Edition feasibility studies proposal

After payment text your name, your e-mail address and bank teller number or your transfer reference number to 08107015636 and A Copy of our Supermarket Business PLAN NIGERIA /FEASIBILITY STUDY PDF will be send to your email.

SUPERMARKET BUSINESS PLAN IN NIGERIA TABLE OF CONTENT

Executive Summary

Introduction

Business Description

Products and services

Competitive Advantage

Market Research

Competitor Analysis

Sales and Marketing Plan

Operational Plan

Business Risk

Management and Structure

Financial Plan and Projections.

Business Plan for a Supermarket in Nigeria. For a new business enterprise to break into Nigeria business circle is very hard, especially when proper planning is not in place for proper takeoff. Before going into any kind of business in Nigeria there are some available factor you need to consider.

These factors include the following;

Controllable Uncontrollable

Controllable factors –

When we talk controllable we mean things that you can controll, things you can do for your business sure as the state where the business will be sited, location within the state, the potential markets for the business, capital to begin and sustain the business before the business starts making profits and many others

Uncontrollable factors – while uncontrollable are things that are beyond your doing. These factors should also be put into consideration, factors like government policies, laws governing the business, climate and many others.

Before you can start a business in Nigeria, any kind of business sure as supermarket business, preparation is important in order to ensure your supermarket business becomes a success in Nigeria.

A business becomes successful when it attracts customers, customers who will always return for more services customers who will bookmark your business. When you have steady customers it simply implies that your supermarket business will stay alive when it retains it’s customers while attracting new ones.

Before you go into any kind of business you need to understand how it works before attempting to start up. And that’s why you need a Business Plan. The many people usually asked is that how will a business plan help me in setting up my Supermarket business in Nigeria? the answer to that question begins with knowing what a plan is in the first place and then adding business to the plan

Important Factors before setting up a supermarket In Nigeria.

How much capital Is Required To Start A Supermarket Where can I get goods to stock my supermarket?
Suitable Location For Your supermarket?
How many Items do I need?
profitability Of Starting a Supermarket Business and daily profit?What commodities and products would I sell In My Supermarket?
How would I arrange my shelf?
What machines do I need?
How much capital do I need to have to open a supermarket?
How much startup fund needed to start a supermarket in Nigeria?

There is no specific answer to this question as it totally depends on your financial ability.

What commodities and products would I sell In My Supermarket

Organic Food – Fresh fruits and raw vegetables Cosmetics and beauty products – Hair cream, body lotions, make-up kits, powder, etc. Hair Products – Hair extensions, hair relaxing creams, shaving lotions, etc. Jewelries – Wrist chains, watches, earrings, necklaces, pendants, etc. Clothes – Suits, jackets, shirts, underwear, sweaters , skirts, pajamas, etc.  Pharmaceutical Products – Condoms, hand gloves, Hydrogen peroxide, etc. Kitchen Wares– Plates, cutleries, kitchen pots, pans, stoves, dish washers, gas burners, toasters, etc. Toys: Kids toys especially cartoon characters Canned Foods – Tomatoes, sardines, canned sauce, etc. Diary & Poultry Products – Milk, meat, eggs, cheese, etc. Drinks -Dry gin, wines, fruit juice, soft drinks. Footwear (Male and Female) -Loafers, boots, sandals, slippers, etc. Packaged chin chin – bread, assorted biscuits, etc. Toiletries – Soaps, Toilet rolls, Face towels, Hand napkins, and Shampoos. Household Products – flower vases, shoe bags, portable wardrobes, etc. Sports Equipment – Skipping rope, board games, running shoes, dumbbells, static bicycles, etc. Electronics – Phones, television sets, laptops, DVD players, etc. Seasonal Products – Gifts for celebrations, Christmas, anniversaries, birthdays, etc. Food Stuffs: Rice, beans, tin tomatoes, etc. Pet Supplies – Pet food, Liquid soaps for bathing them and Pet toys.

OTHER BUSINESS PLAN IN NIGERIA WITH RECENT UPDATE

Snail Farming Business Plan In Nigeria PDF
Cosmetics Business Plan In Nigeria Latest Edition Feasibility
Haulage Business Plan In Nigeria Feasibility Study PDF
Logistics Business Plan In Nigeria Feasibility Study PDF
Pharmacy Business Plan In Nigeria Latest Edition Feasibility Studies PDF
Nursery & Primary School Business Plan In Nigeria Feasibility Study PDF
Nylon and Polythene Bag Production Business Plan in Nigeria PDF
Goat Farming Business Plan In Nigeria Latest Edition And A Feasibility Study
Catfish Business Plan In Nigeria pdf
Sachet Pure Water Business Plan In Nigeria pdf
How To Get The Best Business Location
Communications in Business Organisation
Mail Room Procedures
Staff Administration
Record Administration
Office-Planning And Layout Introduction
Method Of Payment And Imprest System
The Co-Operative Society (Movement)
The Separation Of Investment And Management
Development Of Company
Partnership In Business
How to Start Export Business in Nigeria
The Sole Proprietorship
Introduction To Business
Restaurant Business Plan In Nigeria/ Latest Edition feasibility studies proposal
How to Make Money Online in Nigeria 2020
Top 14 Business Ideas In Nigeria 2020
Top 10 Most Lucrative Businesses In Nigeria 2020
How To Start Kerosene Business In Nigeria Latest Edition feasibility studies proposal
Ushering Business Plan in Nigeria 2020
Steps On How To Grow Your Business In Nigeria
Poultry Farming Business Plan In Nigeria
Shoe Making Business Plan In Nigeria 2020
Paint Production Business Plan In Nigeria Latest Feasibility Study 2020
Pig Farming Business Plan In Nigeria
Rice Farming Business Plan in Nigeria
How To Start Goat Farming In Nigeria/ Feasibility Study
How To Start Catfish Farming in Nigeria/ Feasibility Report
How to Start Poultry Farming in Nigeria/ Feasibility Study
How To Register A Company In Nigeria 2020
How To Become A Recharge Card Distributor In Nigeria/ Feasibility Study

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Kroger, Albertsons — still hoping to merge — agree to sell more stores to satisfy regulators

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Supermarket chains Kroger and Albertsons said Monday they will sell more of their stores in an effort to quell the federal government’s concerns about their proposed merger.

The companies now plan to sell 579 Kroger and Albertsons stores in markets where they overlap to C&S Wholesale Grocers, a New Hampshire grocery supplier and operator, for $2.9 billion. Under the initial divestiture plan , announced in September, C&S had planned to purchase 413 stores for $1.9 billion.

It’s unclear if the new plan will satisfy regulators. In February, the U.S. Federal Trade Commission sued to block the $24.6 billion merger between the grocery giants, saying the lack of competition would lead to higher grocery prices and lower wages for workers.

The FTC also said the initial plan to divest 413 stores to C&S was “inadequate” and would give C&S a hodgepodge of unconnected stores and brands, leaving it ill-equipped to compete with a combined Kroger and Albertsons.

Under the updated plan, Kroger would sell its Haggen banner to C&S. C&S would also license the Albertsons banner in California and Wyoming and the Safeway banner in Arizona and Colorado. C&S would also get access to some private-label brands in the stores. Under the proposal, C&S would keep all of the stores open and honor any labor agreements.

FILE - Georgia Power Co.'s Plant Vogtle nuclear power plant is shown, Jan. 20, 2023, in Waynesboro, Ga. Georgia Power announced on Monday, April 29, 2024 that the second new reactor has achieved commercial operation, marking the completion of the first two nuclear reactors built from scratch in the United States in decades. (AP Photo/John Bazemore, file)

“We are confident this expanded divestiture package will provide the stores, supporting assets and expert operators needed to ensure these stores continue to successfully serve their communities for many generations to come,” C&S CEO Eric Winn said in a statement.

Kroger and Albertsons announced their planned merger in October 2022. The companies say it’s necessary so they can better compete with Walmart, Amazon and other big rivals.

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Kroger proposes selling southern Delaware stores to satisfy antitrust issues with Albertsons buyout

Kroger appears ready to sell off supermarkets in Coastal Delaware, which it operates under the Harris-Teeter banner, as it works to acquire Acme-Safeway owner Albertsons.

Supermarket News reported that this week, the grocery giant proposed a revised plan that it believes will address federal antitrust concerns .

Under the plan, Kroger would sell 166 additional stores to C&S, a grocery wholesaler that owns several dozen supermarkets and has a distribution center west of Newark in North East, MD. The stores would be located primarily in markets where Albertsons and Kroger stores pose monopoly concerns.

Harris-Teeter operates two stores in the southern Sussex County beach area and Albertsons has Acme and Safeway stores in Lewes-Rehoboth. Harris-Teeter previously sold off an underperforming store in Sussex, and over the years, Albertsons has closed Safeway and Acme stores in Dover and northern Delaware.

Acme was able to slow its long-running loss of market share several years ago when it acquired former Pathmark locations. It continues to update stores but faces growing competition that includes Aldi, Grocery Outlet, Wegmans, and Lidl.

Earlier, Sussex County was part of an antitrust settlement that led to the owner Ahold – the Netherlands-based Giant supermarket operator that acquired Food Lion – selling off southern Delaware stores to regional grocer Weis.

Supermarket News reported that federal regulators are skeptical of Kroger’s spin-offs. They cite C&S’s lack of experience operating a large supermarket chain, even with access to Kroger-Albertsons private label brands.

The Biden Administration’s antitrust unit has opposed the Kroger-Albertsons merger claiming the combination would create a monopoly. Kroger may be betting that a new administration would OK the deal.

Kroger says combining with Albertsons would provide more competition for Walmart, which now accounts for a large chunk of the nation’s supermarket business.

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'Deeply unhappy' grocery shoppers plan to boycott Loblaw-owned stores in May

A boycott targeting Loblaw is gaining momentum online, with what could be thousands of shoppers taking their money elsewhere in May.

It's the latest sign of Canadians' mounting frustration with the major grocers, which have been under political and public scrutiny for rising food prices and profits.

“We don't want to struggle anymore,” said Emily Johnson, a mental health and addictions worker in Milton, Ont., and one of the boycott's organizers.

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Johnson and others started organizing the boycott after a Reddit group she created gained thousands of followers looking for a place to complain about Loblaw and other grocers.

The page, r/loblawsisoutofcontrol , now has about 56,000 members. While there's no way of knowing how many will participate in the boycott, the page is full of posts from people who say they plan to, or have already started. There's also a list of demands to Loblaw from the boycott organizers that includes signing a grocery code of conduct and committing to affordable pricing.

The primary aim is to have a financial impact on Loblaw, Johnson said, the biggest of the Canadian grocers. But she also hopes the boycott educates people and gets the attention of government.

Mississauga resident and community advocate Rahul Mehta was already trying to cut back on shopping at Loblaw-owned stores, and plans to fully boycott the company come May.

He hopes the boycott drives shoppers not to other large grocers, but to local, independent stores.

“I think we could potentially see a resurgence in ... interest in learning and demanding real choices, not just Metro versus Loblaws,” he said.

Consumers increasingly feel powerless about the lack of choice they have, especially in smaller communities, said Monica LaBarge, an assistant professor at Queen's University studying food access and consumer well-being.

“It's unlikely that Loblaws is going to change ... its fundamental business model as a consequence of a boycott,” said LaBarge.

But that doesn't mean the company isn't taking notice, she added, saying the grocer recently walked back a controversial change to its discounts on products nearing their best-before date after public outcry.

Loblaw president and CEO Per Bank says the company is paying attention to customers and sees them trying to mitigate inflation by seeking out sales, buying more private-label products and shopping at discount stores.

The grocer is responding to these shifting behaviours through new promotions and expanding its discount footprint, he said in an interview.

Loblaw has to keep looking for ways to provide value to keep people coming back, he said: “We don't have a contract with our customers. They can choose to shop elsewhere tomorrow, if they don't like the offer that we're giving.”

Bank says he takes customer complaints personally, and if customers aren't happy, “that's something I want to fix.” He added that if one customer really dislikes Loblaw, “that's one too many.”

The boycott's effect on the company might not be immediate, but could build up over time if people's habits change, said LaBarge.

“That's where the financial impact is,” she said. “It's that consistent loss of consumers over time, because they're very hard to get back once they're gone.”

LaBarge said she thinks the grocers don't fully understand “how deeply unhappy their customers are,” and the risk that poses to their reputations.

Some boycott participants were once loyal Loblaw customers, like Willi Fleerakkers, who plans to forgo not only Loblaw, but also Metro and Empire stores in May.

“I've already switched (to) getting my vegetables and fruit from my local family store,” Fleerakkers said.

She isn't sure the boycott will significantly hit Loblaw's bottom line, but thinks it could affect their reputation.

The latest on inflation in Canada

For Ann de Sequeira, the boycott has already begun.

The impetus was Loblaw's move to reduce its discount level on food nearing its expiry date, she said.

De Sequeira, a Torontonian who posts about food on TikTok, said she's doing a “soft” boycott of the other two big Canadian grocers but has pretty much entirely cut Loblaw out of her life, cancelling her PC Financial Mastercard and moving her prescriptions from Shoppers Drug Mart.

Loblaw walking back its discount change showed de Sequeira that if consumers “make a stink about something that's loud enough, they have to take action,” she said.

Bank acknowledged that Loblaw's reputation has taken a hit since pre-pandemic times, and said it's something the company is looking to rebuild.

He argued it's easier for customers to “point fingers” at grocers like Loblaw than at other players in the supply chain or global factors leading to higher prices.

“Everybody knows Loblaws. Everybody knows our chairman (Galen Weston),” he said.

“We are (a) much, much easier target, and we need to live with that and that's fine.”

Some people are unsure about the boycott -- some aren't sure it will work, while for others, boycotting Loblaw-owned stores is easier said than done.

Both are the case for Halifax resident Tempa Hull. The two closest grocery stores to Hull are a Loblaws and a Sobeys, and she doesn't have a car. But she knows others have even less choice.

“Most people don't have the choice, time or money to do this,” she said.

She and her husband are going to try to participate, at least partially. Though they can't buy everything they need elsewhere, they plan to reduce their shopping at Loblaws.

“What I think this planned boycott is ultimately going to demonstrate is that they have us by the throat. That we're unable to boycott them because they simply own too many things that we need in order to live and function in society,” said Hull.

“And that right there, if anything, should be the big red flag to government that they need to get serious about fixing the problem.”

This report by The Canadian Press was first published April 29, 2024.

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Amazon’s new grocery delivery subscription offers big savings to Prime members and EBT customers

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Today, we are excited to launch a grocery delivery subscription benefit to Prime members and customers using EBT (Electronic Benefit Transfer) in over 3,500 cities and towns across the U.S.

At $9.99 per month for Prime members, this subscription—which pays for itself after just one delivery order per month—offers unlimited grocery delivery on orders over $35 across Amazon Fresh, Whole Foods Market, and a variety of local grocery and specialty retailers on Amazon.com, and even more convenient delivery and pickup options. Customers with a registered EBT card can experience the same grocery subscription benefits without a Prime membership at just $4.99 per month. A free 30-day trial is available so customers can see how this grocery delivery subscription works for them.

For one low, monthly fee, customers can shop national name brands and delicious organic and natural foods as often as they need, when they need it. The subscription includes one-hour delivery windows at no extra cost where available, unlimited 30-minute pickup on orders of any size, priority access to Recurring Reservations for a weekly grocery order, as well as unlimited delivery on $35+ orders from local grocery and specialty retailers like Cardenas Markets, Save Mart, Bartell Drugs, Rite Aid, Pet Food Express, and Mission Wine & Spirits.

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For customers who prefer to purchase their groceries more regularly—whether ordering delivery or pickup—this new grocery benefit will save them even more time and money on our vast selection of nearly 100,000 grocery items. Here are the details:

For $9.99 per month, Prime members in more than 3,500 cities and towns across the U.S. have access to unlimited grocery delivery on orders over $35 from Whole Foods Market, Amazon Fresh, and the variety of local grocery and specialty retailers available on Amazon.com. Prime members who subscribe to the new grocery delivery subscription benefit will also continue to enjoy exclusive savings in Amazon Fresh and Whole Foods Market stores —on top of all the other savings, convenience, and entertainment that come with Prime—in one single membership.
As part of Amazon's work to help low-income customers more affordably shop for groceries, customers with a registered EBT card can receive a discounted subscription fee of $4.99 per month to receive the grocery delivery subscription without a Prime membership.
Subscribers will also have access to unlimited delivery for orders over $35 from local grocery and specialty retailers like Cardenas Markets, Save Mart, Bartell Drugs, Rite Aid, Pet Food Express, Mission Wine & Spirits, and more where available.
Grocery delivery subscribers receive convenient delivery and pickup time slots for grocery orders from Whole Foods Market and Amazon Fresh. This includes one-hour delivery windows at no extra cost where available, unlimited 30-minute pickup on orders of any size, and priority access to Recurring Reservations for their weekly grocery order.
The subscription pays for itself in as little as one delivery order per month from Whole Foods Market, or one delivery order per month from Amazon Fresh for under $50.

We piloted our grocery subscription with Prime members in Columbus, Ohio; Denver, Colorado; and Sacramento, California, in late 2023. In a recent survey of grocery subscribers from the pilot, more than 85% of respondents shared that they are extremely or very satisfied with the unlimited free delivery benefit. Some of the top reasons customers shared for staying a subscriber following the trial were saving money on delivery fees, and the service making their grocery shopping experience more convenient. One customer shared, “My Whole Foods orders are truly excellent. They always do an amazing job with fresh produce and meat, and with selecting substitutions when necessary. This has made a huge impact on my satisfaction with Whole Foods grocery delivery and is the #1 reason I choose it over other delivery services.”

An image of an Amazon Echo Show in a kitchen.

Prime members and customers with a registered EBT card can learn more about how Amazon is making grocery shopping easier, faster, and more affordable through the grocery subscription benefit, and sign up here .

Prime members who shop at Amazon Fresh and Whole Foods Market can also score exclusive deals both online and in-store. Eligible Prime members can earn unlimited 5% back on their purchases when using their Prime Visa online at Amazon.com, or when shopping online or in-store at Amazon Fresh and Whole Foods Market.

Amazon is continually innovating to build a best-in-class grocery shopping experience, whether in store or online, grounded in the values Amazon is known for: price, selection, and convenience. With our portfolio of stores, including Whole Foods Market, Amazon Fresh, and Amazon Go, we offer a broad range of brands and shopping options for all customers—with extra benefits for Prime members. In addition to our own stores, we partner with grocery and specialty retailers globally, enabling customers to order delivery from their favorite stores through Amazon’s website.

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IMAGES

Supermarket Business Plan In Nigeria 2020/ Feasibility Study by ogumka
Supermarket business plan in Nigeria
GROCERY STORE BUSINESS PLAN IN NIGERIA
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Supermarket Business Plan In Nigeria 2020 DOC • Nigeria Business Plan
Supermarket Business Plan in Nigeria

VIDEO

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COMMENTS

How To Start A Successful Supermarket Business In Nigeria
All of these require money and from our estimates, you will need around N3Million naira to set up a mini standard supermarket business. Bear in mind that this amount is dependent on your location in Nigeria. See Also: Top Legal Documents Every Entrepreneur And Start-Up Should Have.
Supermarket business plan in Nigeria
Watch on. In our supermarket business plan, we examine the cost of opening a supermarket in Nigeria and what it entails. Nigerian supermarkets are very expensive to open due to the high cost of rent, ongoing maintenance, and other factors. The average cost to open a supermarket in Nigeria can range from 1 million to as high as 20 million naira.
How to Start a Supermarket in Nigeria (2024)
HOW TO START A SUPERMARKET BUSINESS IN NIGERIA. STEP 1: DRAW UP A BUSINESS PLAN. STEP 2: CARRY OUT YOUR FEASIBILITY STUDIES. STEP 3: REGISTER YOUR BUSINESS. STEP 4: SEARCH FOR A SUITABLE LOCATION. STEP 5: SOURCE FOR SUPPLIERS OF COMMODITIES. STEP 6: ARRANGE AND ORGANIZE YOUR SHELVES. STEP 7: EMPLOY RELIABLE STAFFS.
Best Way to Start a Provision or Grocery Store Business in Nigeria
Steps to Start a Provision or Grocery Store Business in Nigeria. Below are the various steps one must take in order to establish a successful provision business in Nigeria. Conduct a feasibility study. Develop a business plan. Obtain the start up capital. Choose the right location. Contact reliable suppliers.
How To Start A Lucrative Supermarket Business In Nigeria: The Complete
Nigeria has one of the largest grocery stores in Sub-Saharan Africa. As of 2017, Nigeria recorded over $44.8b in revenues from supermarket and grocery retail, with the food retail segment comprising $33.6b of these revenues. ... If you need a professional and affordable business plan service, StartupTipsDaily's MBA standard professional ...
Grocery Store Business Plan in Nigeria
Importance of the Grocery Store Business Plan in Nigeria. The Grocery Store Business Plan in Nigeria is important because. It will assist you in making sound decision in the administration of the commercial enterprise which will make a contribution to the success of the business. It will additionally gives distinctive statistics on all ...
Supermarket Business Plan in Nigeria
Register Your Business. You should register your Supermarket business with the Corporate Affairs Commission in Nigeria. And also get every required license and permission before you open your doors to the public. If you need a lawyer who will help you with the business registration process, call us at 07033378184.
How to Start a Supermarket Business in Nigeria (Supermarket Startup
Here are the step-by-step procedures to start a supermarket business in Nigeria: Step 1. Choose Your Scale of Operation. The first and foremost action step to take before starting a supermarket business in Nigeria is to determine your scale of operation. Your scale of operation means the size of the supermarket you desire to start; which could ...
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how To Start A Grocery Business In Nigeria. how to start a grocery store in india; Licence for Running a Grocery Business: mini grocery store business plan; opening a grocery store in a small town; owning a small grocery store; small grocery shop business plan; small grocery store business plan; Starting an Offline Grocery Business
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Here is how to start a supermarket business in Nigeria. Start a successful business in Nigeria with Jiji. 1. Create a supermarket business plan. When starting a supermarket, business plan is the first and most crucial step of the process. A grocery store business plan allows you to create a detailed guide to starting and managing your business.
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How To Start A Lucrative Supermarket Business In Nigeria: Step-By-Step Guide 1). Create A Business Plan: To start up a lucrative supermarket, you need a business plan that involves all the critical decisions and steps to take. Your business plan entails the size of your capital or how to generate the necessary capital.
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Description. This business plan provides a blueprint for how to start and manage your Supermarket business. Our detailed research and analysis, including interviews with entrepreneurs and stakeholders, will ensure that you plan your future business for success. A business plan is used for various purposes including to (a) Raise funding from ...
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Here are some steps to follow when starting a grocery store business in Nigeria: 1. Conduct Market Research. The first step in starting a grocery store is to conduct market research. This will involve identifying the target market, competition, and demand for the products you want to sell.
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Having a business plan. There are several important steps you must take before starting a grocery provision store business in Nigeria. First, you must register your business with the Corporate Affairs Commission and obtain a Certificate of Incorporation. Secondly, you must promote your store and widen your target market.
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Large scale provision stores such as a mini supermarket require large capitals and you will need between ₦15 million - ₦20 million or more to fully establish your business. If you are hiring workers and putting in place heavy duty generators to power your business, you will need to spend more.
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Super Market Business Plan In Nigeria - Free download as Word Doc (.doc / .docx), PDF File (.pdf), Text File (.txt) or read online for free. Get Your Supermarket Business Plan In Nigeria here
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Cost of Operation of Groceries and Provision Store Business Plan In Nigeria. Our current cost of operation is about 2.5 million. This includes the cost of setting up our facility, cost of some goods available in the store, employee's salary, cost of POS machines, etc.
GROCERY STORE BUSINESS PLAN IN NIGERIA
Objectives for Grocery Store Business Plan in Nigeria. To achieve profitability by August in the first year. Earn approximately #30,000,000 in sales by the third year. To start paying dividends by year 3. To have opened five (5) new distribution outlets in the fourth year.
Download Grocery Store Business Plan in Nigeria with Financial Analysis
How To Download The Grocery Store Business Plan Template PDF (with 3 years' financial analysis) Above is a part of the Grocery shop business plan template in Nigerian. In case you need the complete business plan, follow the procedures to download it. Pay the sum of N5000 (Five thousand naira only) to the account detail below: Bank: GTBank.
Grocery Store Business Plan Template (2024)
Starting a grocery store business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.. 1. Develop A Grocery Store Business Plan - The first step in starting a business is to create a detailed grocery store business plan that outlines all aspects of the venture.
Supermarket Business Plan in Nigeria
After payment text your name, your e-mail address and bank teller number or your transfer reference number to 08107015636 and A Copy of our Supermarket Business PLAN NIGERIA /FEASIBILITY STUDY PDF will be send to your email. SUPERMARKET BUSINESS PLAN IN NIGERIA TABLE OF CONTENT. Executive Summary. Introduction.
The Kroger Co.
The Kroger Co. (NYSE: KR) and Albertsons Companies Inc. (NYSE: ACI) announced today that they have amended their definitive agreement with CS Wholesale Grocers, LLC (CS) for the sale of assets in connection with their proposed merger previously announced on October 14, 2022. This amended package modifies and builds on the initial divestiture package that was announced on September 8, 2023.
Kroger, Albertsons
The companies now plan to sell 579 Kroger and Albertsons stores in markets where they overlap to C&S Wholesale Grocers, a New Hampshire grocery supplier and operator, for $2.9 billion. Under the initial divestiture plan, announced in September, C&S had planned to purchase 413 stores for $1.9 billion.
Kroger proposes selling southern Delaware stores to satisfy antitrust
Supermarket News reported that this week, the grocery giant proposed a revised plan that it believes will address federal antitrust concerns. Under the plan, Kroger would sell 166 additional stores to C&S, a grocery wholesaler that owns several dozen supermarkets and has a distribution center west of Newark in North East, MD.
Loblaws boycott planned for May across Canada
The two closest grocery stores to Hull are a Loblaws and a Sobeys, and she doesn't have a car. But she knows others have even less choice. "Most people don't have the choice, time or money to do ...
Discount grocer Aldi is winning the inflation era
The company is investing $9 billion to open 800 new stores in the U.S. as part of a five-year expansion plan. ... Fund next-gen business journalism with $10 a month. Support Us. Search.
GROCERY STORE BUSINESS PLAN IN NIGERIA
This sample Grocery Store Business Plan in Nigeria can be used for Grant Applications, Bank Loans, Proposal writing, Business Concept Note, Competitions etc. Grocery Store Business Plan is a lucrative business that needs a lot of strategic Planning to start and a business coach like Dayo Adetiloye to help you start the Implementation.
Grocery store anchors 'aggressive' economic revitalization plan in this
Ed Hightower points toward a planned new development on Tuesday, April 23, 2024, in Venice. The city of Venice plans to add a new grocery store, healthcare facility, affordable homes, and a new ...
Amazon grocery delivery subscription for Prime members, EBT customers
For $9.99 per month, Prime members in more than 3,500 cities and towns across the U.S. have access to unlimited grocery delivery on orders over $35 from Whole Foods Market, Amazon Fresh, and the variety of local grocery and specialty retailers available on Amazon.com. Prime members who subscribe to the new grocery delivery subscription benefit ...

How To Start A Successful Supermarket Business In Nigeria

Supermarket Business

Steps To Starting A Supermarket Business In Nigeria

Build A Store

Human Resource

Some Equipment Needed In The Supermarket Business

Tools for Inventory

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Supermarket business plan in Nigeria Industry Overview:

Cost of Starting a Supermarket in Nigeria (Business Plan in Nigeria)

Types of Products to sell in Supermarket In Nigeria

Does The Nigerian Government Offer Tax Deductions on Start-up Costs for Supermarkets?

What Kind of Supermarket Business Plan in Nigeria Market Research Should you Conduct When Setting Up Your Own Supermarket Business In Nigeria?

What kinds/products do Nigerian customers buy?

How to Market Your Supermarket Business in Nigeria Successfully

Table of content of Your Supermarket business plan in Nigeria:

Supermarket business plan in Nigeria Conclusion:

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HOW TO START A SUPERMARKET BUSINESS IN NIGERIA

STEP 1: DRAW UP A BUSINESS PLAN

STEP 2: CARRY OUT YOUR FEASIBILITY STUDIES

STEP 3: REGISTER YOUR BUSINESS

STEP 4: SEARCH FOR A SUITABLE LOCATION

STEP 5: SOURCE FOR SUPPLIERS OF COMMODITIES

STEP 6: ARRANGE AND ORGANIZE YOUR SHELVES

STEP 7: EMPLOY RELIABLE STAFFS

STEP 8: SET UP AN AUTOMATED SYSTEM FOR YOUR CASHIERS

STEP 9: TRAIN YOUR EMPLOYEES

STEP 10: CREATE AWARENESS ABOUT YOUR SUPERMARKET

LIST OF ITEMS TO SELL IN A NIGERIAN SUPERMARKET

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Best Way to Start a Provision or Grocery Store Business in Nigeria

How to Start a Grocery Store Business in Nigeria!

Steps to Start a Provision or Grocery Store Business in Nigeria

1. Conduct a Feasibility Study

I. Provision Business

II. Grocery Store or Mini Supermarket Business

III. Supermarket Business

Understand Grocery Store Business

Negotiate With Suppliers

Analyse the Competition

Business Positioning

Understand Your Target Market

2. Draw Up a Business Plan

Why You Should Develop a Business Plan

Things to Consider When Drawing up a Grocery Store Business Plan

3. Obtain the Start-up Capital

Small Scale Start-up Cost

Medium Scale Start-up Cost

Large Scale Start-up Cost

Items in a Provision Shop

How to Manage a Provision Shop

4. Choose the Right Location

5. Contact Reliable Suppliers

6. Set Up a Good Pricing Strategy

Cost-Based Pricing

Competition-Based Pricing