How To Start A Mini Supermarket In Nigeria- Mini supermarket is one of the thriving business in Nigeria. Majority of the items sold in supermarkets are what people use/ buy on a daily basis . With the current CBN money policy, there is going to be higher increase in patronage by people of supermarkets in the coming months. In this post, we would show you what is needed to start a mini supermarket in Nigeria.
How To Start A Mini Supermarket In Nigeria
#1 Do Feasibility studies
In starting a mini supermarket in Nigeria, you need to do some thorough research. Some of which include:
- What can I sell?
- What commodities are fast moving?
- How do I source for suppliers/ distributors for goods
- What are the market prices of goods?
- What is the profitability of running a super market in Nigeria
- Are there competitors around my proposed location. If yes, how can I edge them out.
#2 Have a business plan
After carrying out a thorough feasibility , the next step is to come up with a business plan for your mini supermarket in Nigeria. Your business plan should contain:
- Aims and objectives
- Plans
- Strategies
- Costing
- Budget
- Marketing
- Strategies
- Employees
- Profitability, etc.
#3 Raise funds
You need some good start up funds for your mini supermarket in Nigeria. You will need some good funds for:
- Getting a location
- Constructing a store
- Buy and stock your store
- Construct/ rent a warehouse
- Pay staff salaries for the first few months
- Get necessary equipment/ tools/ furnishings for your store
There are ways you can source for funds:
- Personal savings
- Gifts from family and friends
- Soft loan
- Bank loan
- Partnership
- Investors
#4 Get a name for mini supermarket and register it
Another critical step in starting out a mini supermarket in Nigeria is to get a unique name for it. After obtaining a unique , you should go ahead and register it with CAC. This is highly important. You also need to get the necessary licenses and permits for operating a mini supermarket in Nigeria.
#5 Be strategic in your location
In getting a location for your mini supermarket in Nigeria, you must be strategic. Choose an area where there is a dense cluster of people; whether living , working or passing through daily. Junctions, bustops are instances of juicy locations. You also want to ensure that you siting your store has good road networks.
This is because a sizeable portion of your customers are car owners. So if you site your mini supermarket in an area with a bad road network, you will be at a great disadvantage.
#6 What do you want to sell?
You need to decide on what you would be selling in your mini supermarket. Some of the common things sold in a mini supermarket include groceries, foodstuffs, pastries, bread, etc. You should stock products/ brands that are fast-selling. Don’t just store up what will rust on your shelves.
#7 Find Suppliers/ Distributors
After deciding the commodities you will be selling, you need to find distributors/ suppliers. As much as possible, source for these goods from cheap sources (of course quality), the cheaper you get these commodities , the greater your profit margin.
#8 Build and structure your store
After obtaining a location for your mini supermarket in Nigeria, you need to build and structure your supermarket building. You need to furnish with shelves that you would display your commodities. Remember you need to also build a warehouse where you store the extra commodities that are not displayed.
#9 Procure your goods in bulk
Now that your building is ready and furnished with different kinds of shelves, its time to procure your goods from suppliers. Go with the list already made and start stocking. Arrange the items on the shelves in such a way that it would be easy for customers to locate them. Don’t forget to put price tags on them.
Top Supermarkets In Nigeria
#1 Shoprite
It is one of the best supermarket in Nigeria. The mart with multiple branches in strategic places around the country is known for selling quality goods at low price. The shop is not just one of the best in Nigeria but also in Africa as a whole. It is one shopping mall that you get a variety of food products, home appliances at the lowest prices. Also in stock at shoprite include exotic wines, freshly baked bread, fresh fruits and vegetables. The mart which started out in Lagos in 2005 now has over 25 stores in 8 states in Nigeria including FCT, Abuja.
#2 Spar
It is another outstanding supermarket . The supermarket is well known for its wide range of products at affordable prices. Spar has outlets in major cities in Nigeria like Lagos, Abuja, Port Harcourt, Calabar and Enugu.
#3 Addide
Addide is worth mention among outstanding supermarket in Nigeria. It started out in 2008 in Lagos. The mart sells grocery items such as cosmetics, alcoholic and non-alcoholic drinks, etc. The company has stores in several locations in Lagos.
#4 Hubmart
This outstanding supermarket not only sell grocery items , it has some other departments that run alongside e.g Hubcafe ( a relaxation carter), Hub deli (restaurant, sells delicious meals), hubcare (for customer’s health and care. The mart has excellent customer service with stores in different part of Lagos.
#5 Justrite
It is one of the biggest supermarket in Nigeria. The mart sells quality products at pocket-friendly prices. The mart has outlets in strategic areas all over Lagos and some other southwestern states.
#6 Jendol superstores
Jendol , a leading superstore in Lagos Nigeria is headquartered in Egbeda with branches in some other parts of Lagos. The store sells groceries, freshly baked- bread, ice-cream, beauty and sanitary items. Commodities are of high quality and sold at affordable prices.
#7 Prince Ebeano
Prince Ebeano is one of the outstanding supermarket in Nigeria. It has outlets in Abuja and Lagos. The store sells toiletries, groceries, toys , food and condiments, wines and alcohols, drinks, toys, etc. They offer both walk-in-store and online shopping.
Conclusion
A mini supermarket in Nigeria is lucrative business. Once you have the funds, get a strategic location, get trusted employees and apply some marketing strategies, your business will surely thrive.
Frequently Asked Questions
How profitable is a mini supermarket in Nigeria?
The business of mini supermarket in Nigeria is a profitable one . Most of the commodities sold in a supermarket are what people need and use daily. Once you can be sited in a good location and your prices are good, you would have enough patronage that would translate into maximum profits for you.
What do supermarkets do to enhance success?
Some of the things supermarkets do to enhance success is to monitor consumer behavior, they study trends. And these guide their decision when restocking.
How do I attract customers to my mini supermarket
- Host events at your mini supermarket location
- Offer door-to-door delivery
- Create fliers and distribute in areas close to your mini supermarket
- Offers discount and promotional sales
How do I manage a mini supermarket?
- You should know what your customers need, their preferences and prejudices
- Offer discounts, promotions and coupons
- Use the best storage methods
- Use the best/ effective inventory method
- You should engage enough staffs during your business/ rush hours to avoid unnecessary long queues in your mini supermarket.
- Use modern technology
What strategies can be used to increases sales in a mini supermarket?
- Know your customer , their preferences and give them just that way.
- Train your sales persons to interact with customers and offer support where necessary.
- As much as possible, reduce waiting times at the counter
- Create combo bundles: assemble products together and try to sell at discounted prices. This will make customers buy more.
- Always be open to feedback from customers.
- Regularly update your customers with offers, promos, etc.
References
- www. nigerianfinder. com- 10 Best Supermarkets in Nigeria
- www. atlanticride. com- 20 Best Supermarket in Nigeria
- www. gofrugal. com- How to increase sales in Supermarket / retail grocery store?
- www. yourstory. com- How to successfully run a supermarket business
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