How To Start A Provision Store Business In Nigeria: All You Need To Know. Provision store business is very profitable but very easy to set up. You can start with any amount on some provision items that sales fast
A provision store is one that is very lucrative when started as a business because its goods are basically the items we use in our everyday lives hence, there are always customers available.
Are you trying to start up a provision store business? Are you confused on the step to take? Look no more for solutions as we have compiled everything you need to know about starting up a provision store business in Nigeria in this article. Let us explore together!
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What is a provision store?
A provision store is a retail shop or store that basically sells food items which might be fresh or preserved as well as some household items. A provision store is often used interchangeably with a grocery store or shop.
Where can I find a provision store?
A provision store can be found anywhere regardless of it being a village or city. This is one good thing about the business as location is not so much an issue.
What are the things sold in a provision store?
There are so many things that can be sold in a provision store which ranges from food items to household materials. Some of them are:
- Canned food
- Frozen food
- Food stuffs
- Pots etc.
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Is provision store business only for only women?
No, gone are those days when provision store business was considered as business for only women. It has recently been considered as a business for both male and female because of the Involvement of men nowadays, it can be done by anyone.
What are the things I need to do to set up my own provision store?
When starting up a provision store, there are some things you should consider as well as put in place which are:
- Get a location or a shop
- Paint and install tiles or carpet
- Make provision for shelves
- Make tables available
- Install a refrigerator
- Fill you store up with goods
- Make provision for a register
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GET A LOCATION OR A SHOP
We all know that provision stores can be found anywhere hence, it is very easy to spot a location for your customers but, the type of provision shop you want to set up will determine your location. For instance, you might want to set up a small provision store, then you can consider getting a location that is not so busy but if you want to set up a large provision store, you should get a location where many people would easily locate and access it.
PAINT AND INSTALL TILES OR CARPET
The next step you will need to take is to beautify your provision shop by painting and either tiling the floor or making use of carpet. The main aim of doing this is to attract your customers to your beautiful store and feel comfortable as well.
For me, I would prefer going to buy grocery at a more beautiful grocery store than a less beautiful one.
MAKE PROVISION FOR SHELVES
After you have been able to beautify your store, you should then make provision for shelves. Shelves are important because it will serve as the instrument you would use to display the items that you sell.
Again, setting up shelves is not just enough as you would as need to label the shelves properly for easy identification or reach of the items you sell.
MAKE TABLES AVAILABLE
Do not just stop at making shelves for your store as you would need one or two tables depending on how large you want the store to be, so as to help the store attendant and also to display some of the products.
INSTALL A REFRIGERATOR
People do not like to buy drinks or water that is not cool because of the sun we experience in this part of the world. Thus, the need for you to get a refrigerator. The type of refrigerator that is best advised is a see through or a transparent refrigerator. This is because it will help the customers see what you have in the refrigerator without having to open it to check.
FILL YOUR STORE UP WITH GOODS
This is the most important part of the business as you cannot not have the store set up without goods. So, if you have taken all the steps above then you can proceed to stock your store up with relevant goods.
Relevant goods here mean goods that customers always demand for. If you stuck your shop up with irrelevant goods, it might take longer time to sell and can also cause you to run into debt or make loss.
If you are confused on what goods you should sell and should not sell, you can conduct a market survey as well as talk to someone who has been in the business for a long time.
MAKE PROVISION FOR A REGISTER
You do not just stop at stocking up your store, it is important that you also make provision for register. The whole idea of this is that you will need to track the happenings in the store as well as the goods you have bought.
The importance of tracking cannot be over emphasized as it is needed to know if you have made a profit or a loss at the end of the day.
What are the challenges I might likely face in this business?
There are loads of challenges that you might face in this business however, they are not things that cannot be managed. Some of them are:
- High completion rate with other stores
- Understanding your customers’ demands
- Managing and taking track of your business to avoid making losses
- Cost of labour
- Erratic power supply
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I have carefully put this information together to assist you if you have problems trying to set up your provision store business. Be rest assured that you are good to go if you have taken heed to these tips. I really hope this information was helpful to you. Cheers!