One of the lucrative business you can ever engage in and make a big profit (although it may look unbelievable) is a provision store business which is a retail outlet that sales goods such as food items and others consumers goods. The business is a kind that you need to buy in bulk or small quantity from a wholesaler and you sell to the final consumer or you can be a wholesaler selling to retailers all depending on your capital and business strategies. In order to start the business you need to consider the following;
1. Research and Business Planning
One of the paramount tools for business strategies is research. You can start any business without making inquiries. Provision store business is not an exemption. Before you start the business you need to take some research work such as;
• How the business look like, like the step you have taken in surfing internet for it.
• What, where, whom and how to sell
• competitiveness in your area
• The price and associated retail price, so you will know whether it will be profitable.
After the research, You plan based on your discovery by drafting your business plan and decide how big you want your shop to be and capital involved.
2. Getting a Shop and Accessories
The next step is to get your shops in a place that you will have high profitability. Then construct your shop and equip it.
3. Purchasing Goods
After getting shop, you need to fill your shop with goods and commodity that your target consumer can patronize. Goods such as;
• food items
• cosmetics like soaps, body creams etc
• bags and packages
• Recharge card
• books and stationary
• cooking ingredients etc
In conclusion, as we know that capital is the possibility factor for the reality of a dream business. To start a provision store in Nigeria, if you have even less than ₦10,000 you can start in small scale but the bigger the capital the larger the business. With ₦100,000 you can start as a wholesale.
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