Do you want to know how to start a mini supermarket in Nigeria?. Then keep on reading.
Supermarkets seemingly deliver the best of consumables of all kinds and categories, ranging from foods to drinks, fruits, snacks, etc.
A vast majority of supermarkets in Nigeria also trade on other domestic wares like body creams, cosmetics, and a few different likes.
The elites frequent these places more often than not. Still, then the lower class like myself also runs into these establishments once in a while, either when I’ve got a visitor to impress or when I have enough money for luxury. Lol.
Besides, it is a beautiful facility; it’s also a very profitable establishment when you have active customers and professional management.
Supermarkets are by far one of the successful setups in cities when managed rightfully and wisely.
So then, I understand you are interested in starting up a mini-supermarket in Nigeria; let’s build on that. Now quite many people really do not understand practically the difference between a supermarket and a mini-mart.
As the name implies, a supermarket is a retail shop running on self-service with the sales availability of Household items and consumables.
On the other hand, a mini-mart is a lesser form of a supermarket that isn’t as much equipped as a supermarket but has almost the same service format as a supermarket.
Let’s discuss four necessary steps to take while embarking on starting a mini supermarket in Nigeria.
1… FIND OUT HOW MUCH CAPITAL YOU WOULD REQUIRE
My research reveals that between 2000 and 2002, a minimum of 1 million Naira is enough to lunch you a good supermarket if you’re planning to start up small.
With the present economic crisis and the soaring costs of items and services on the National chart, you should be looking at twice that amount or 1.5 million Naira to be able to lunch it as a system that would begin to yield returns almost immediately.
You’ll need to inquire from people in the system already, my estimate may be slightly exaggerated, but to be on the safer side, you should go with that.
Ask around from dealers and take the mean or average starting capital you learnt from your survey.
Never neglect this step if you are keen on how to start a mini supermarket in Nigeria.
2… CREATE A PRACTICAL BUDGET
with the idea of the supposed starting capital you might need, you should proceed to create a personal budget which may necessarily not be a photocopy of someone’s past budget; this is why it should be a practical budget. It should be a budget that is directly applicable to you.
Perhaps you could have something like this for planning a starting capital of 1 million nairas.
Shop Rentage——- N250, 000 (2 years renting depending on your location, though)
Stocking————– N400, 000
Auxiliary Generator N50,000
Miscellaneous——- N150,000 This is an efficient one.
3… FIND A GOOD LOCATION
The location of your intending supermarket has much bearing on the survival and growth of your business. A bad or not suitable location is most likely to nullify your efforts.
Please search for a crowded place with activities or people but definitely not one with too many such establishments in it already as competition would be very high and almost intolerable.
Ethically, no one loves an uncomfortable environment or shops in a quite distant place from the nearest busy avenue.
So ensure to locate a comfy and very easily accessible place, this is even more important than finance!
4… DECIDE ON SPECIFIC GOODS OR GENERAL MERCHANDISE
Here comes the decision to make on what to trade on.
It is more prominent and beneficial to trade on general merchandise, which has almost all the necessary and wanted stock because most people prefer to shop in a place where they can easily get all their wanted items in bulk and not run in and out of multiple stores shopping malls.
However, if your capital is low, you might choose to build on a particular category of goods. You perhaps packaged food and consumables, meat, ice cream, yoghurt, etc.
Certain commodity types are always wanted, which are apparent to you and me. Still, you may also need to carry out a little market research for hidden items in high and consistent demand since you are new in the area and do not know too much already.
Also, do not forget to get the best stock from the best suppliers if you would not be visiting the market yourself.
These steps above summarise what you need to know on stirabout a mini supermarket in Nigeria.
If you need a bankable business plan on mini-supermarket, don’t hesitate to contact us on WhatsApp via https://wa.me/+2349012957163.