Are planning on starting a supermarket business in Nigeria but you don’t know how to start? where to start from? the cost of starting a supermarket business in Nigeria? This article will guide you through.
Table Of Contents
What Is A Supermarket?
A supermarket is a big shop where house hold items and food items are sold in retail. Goods are usually properly organised in shelves with price tags in a way that easy identification is achieved. A super market is quite different from a regular market in that it entails an enclosed building.
Below are some of the items that can be sold in a supermarket :
- Canned food
- Skin care products
- Phone and accessories
- Frozen food
- Sanitary products
- Tooth brush
- Cooking utensils
- Diary products
- Bed sheets
How much does it cost to open a supermarket in Nigeria?
In Nigeria a medium size supermarket can cost between NGN5M to NGN10M ( $13850 to $27700 ) to set up, while a large-scale supermarket could cost above NGN10M to set up.
How To Start A Supermarket In Nigeria
Here are the important steps to take to set up your own supermarket:
1. Create a plan and a model – A model is a blue print, thus simply means that one should set up a blue print of what one really wants the business to look like. Size is an important factor, one can start as a small scale business and then improve to a large scale.
Also, Capital generation, business structures, Staffing and marketing method are important factors that has to be considered as well. This model should also include the feasibility study of the business you want to venture into and also contain SWOT (Strength, weakness, opportunity and threat) of your business.
2. Proceed to get required Capital – This highly depends on the size of the supermarket and the geographical area one plans to set it up in. One must not be under funded and over funded as well. In Nigeria a medium size supermarket can cost between #5M to #10M ( $13850 to $27700 ) to set up, while a large-scale supermarket could cost well above #10M to set up.
3. Get a good geographical location – one must get a good geographical location where the supermarket should be located. This is very important because it points to the number of customers one wants, obviously everyone wants alot of customers in order to make a substantial profit. The Super market should be located in such a way that it allows for easy access to customers.
4. Create and Erect the shelves – In a supermarket, items should be properly arranged in such a way that it allows for easy identification and Buying, and this requires the use of shelves. After getting a good geographical location, the next thing the entrepreneur looks out for is creating and erecting the shelves. Every item of same use must be put in same shelves regardless of the brand. One would get better sales if the goods are attractive and properly arranged in shelves.
Labeling one’s shelves is also very key, so that customers can easily identify where to certain items.
5. Ensure a good power supply system – One would need proper and constant power supply in the supermarket for customers to easily access the location of commodities. A good power supply system is also needed to keep so me items refrigerated. In Nigeria, there is no reliable power supply system and as such, one would need to get a generating set.
6. Stock the supermarket with goods – After ensuring there is a good power supply system, one will therefore need to stock the supermarket with essential goods.
7. Get competent Staffs– The number of staff one should employ depends on the size of the supermarket.
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