Tips for Establishing a Supermarket Store in Nigeria

Tips for Establishing a Supermarket Sore in Nigeria

Supermarket business is a very lucrative business and its success depends on your knowledge of the type of products the people need so much and also the ability to manipulate prices and the risks involved in the business. Here is a breakdown of the
capital requirement for a successful supermarket business:

Stock                        -       N4,000,000.00

Cash at Hand              -           N50,000.00

Furniture                    -         N100,000.00

Generator                  -           N30,000.00

2 Years Rent               -         N160,000.00

Big Size deep freezer   -         N100,000.00

Refrigerator                -           N60,000.00

Lightening & Décor      -           N30,000.00

Miscellaneous              -           N50,000.00

                                        N4,580,000.00

Note: For Smaller Supermarkets, divide the capital requirement here by two.

Breakdown of Stock of Goods

·         Food Stuff: Dried- rice, beans, sachet wheat, semovita, poundo yam, spaghetti, Indomie, packaged garri etc.

·         Electronics: Phones and accessories, Television sets, laptops, DVD players, decoration lights, Dish and Decoders, smart cards, Audio Players, etc.

·         House hold Products: Flower vase, shoe bags, portable wardrobes, Art design, Wall Decoration, etc.

·         Cosmetics: Body lotions and creams, hair cream, powder, make-up kit, roll-on perfumes, etc.

·         Kitchen Wares: Plates, Cutleries, pots, Stoves, gas burners, dish washer, bread toaster, etc

·         Drinks: Assorted drinks, e.g. wines, fruit juice, soft drinks, beverages, energy drinks.

·         Seasonal Products: Christmas stuff: tree, flower, lights, design, clothing, toys.

·         Clothes: Men and women’s shirts, trousers, suits, jackets, underwear, neck ties, panties, bras, etc.

·         Toiletries: Soap, Toilet rolls, face towel, hand napkins, body towel, shampoo, antiseptics, sanitary pads.

·         Canned Foods: tomato paste, ice cream, sardines, Canned sauce.

·         Sports Equipment: Skipping rope, board games, trainers,  Dumbbells, bicycles etc.

·         Pet Supplies: Pet foods, soap, toys.

·         Foot wear: Male and Female shoes- loafers, boot, sandals, slippers.

·         Diary and Poultry Products: Milk, Assorted Meat, Eggs, Cheese.

·         Pharmaceuticals: drugs, syrups, injections, hand gloves, hydrogen peroxide, disinfectants.

·         Jewelries: Male and female jewelries: watches, ear rings, wrist chains, necklaces

·         Organic Foods: Fresh fruits and raw Vegetables. They should be well preserved to maintain their freshness.

·         Packaged Products: Bread, Assorted Biscuits.

·         Children Toys.

Food for Thought

o   Beat your competitors technically by selling at lower prices and not necessarily to your detriment.

o   Try and buy from the producers as much as possible.

o   Be careful of expiry dates. Sell goods before expiry dates.

o   Be friendly but avoid credits as much as possible to the neighborhood.

o    Be security conscious.

o   Always try to deposit cash (after every 5 hours for example) depending on sales.

o   Organize your supermarket (ORDER) into departments of good and products clearly.

o   Have shopping Carts.

o   Price tags on goods make purchase by customers very easy.

o   Make promotional offers.

o   Accept returned goods when customers complain.

o   DSTV and flat screen TV in the supermarket is good.

o   Soft music in the supermarket.

 

o   Location can make or break your business, choose the right one.

o   Buy goods from China and other African Countries without leaving your room here