10 Steps to Start a New Supermarket / Grocery Store

1. 10 Steps to Start a New Supermarket / Grocery Store

2. Index • Business Model • Location • Store Layout • Branding • Employees • Merchandising and Purchase • SOPs • Grocery Store management software • Marketing Plan • Launch Preparation

3. 1.Business Model Steps to build a business model:- • Figure out how a business is going to generate revenue and make profits. • Enhance the customer experienceand create value-addition • Attract and retain customers leading to increased scope for revenue generation and profits. • Store space/ideal area for a supermarket • Decide investment budget • Consider return on investment (RoI) • Study Break-even point analysis

4. 2.Location Things to consider while deciding the location:- • Study locational factors • Decide residentialareas or commercialareas • Identify areas with maximum footfall • Identify areas where there are no existing stores

5. 3.Store Layout Things to consider while finalizing the Store layout • Concept of the profit per square feet • Reaching grocery store design consultants • Generate higher returns by stocking more and more products • Prevention of losses due to pilferage and lack of proper storing features • Appropriate display and storing specifications

6. 4.Branding Importance of Branding:- • Providing an experience to your customers • Creates loyal customers • Creates unique experience Things to consider in Branding:- • Interiorsof your stores or the packaging quality • Customer interaction while billing • Unique experience for the customers such that they leave your supermarket with a delightful experience every time.

7. 5.Employees Things to consider while hiring Employees:- • Acquiring skilled and happy employees as they lead to happy customers • Creating presenters of company to the customers  • Maintaining a qualified, content, and motivated workforce • Defining important factors such as yourorganization structure, job design, job analysis, manpower planning, roles and responsibilities, training and development, salary structuring,

8. 6.Merchandising and Purchase Things to consider while Merchandising and Purchase • Covering the product categories • Study of demand and supply • Deciding products and product brands • Understanding margins offered by the manufacturers and distributors • Purchase department with knowledge of merchandising plans and priorities

9. 7.SOPs Significance of SOPs • Defining crystal clear duties and responsibilities • Creating operational roadmap for each operation or activity • Defining step-by-step approach to carry out a particular task or operation • Make supervision, monitoring and improvisations easier

10. 8.Grocery Store management software Significance of Using a Software • Trimming the operational costs of a business in long run • Making business processes and operations that need to run in a synchronized manner • Accessing the relevant data for decision-making • Automating operations for more accuracy of information, and speedy decision-making

11. 9.Marketing Plan Significance of Planning • Creating something of value, something that could solve a problem or fulfil a need • Creating identification for brand • Providing value for money • Reaching more and more customers

12. 10.Launch Preparation Launching or Day 0 (“Zero”) Checklist • Planning and marketing of the launch • Creating a promotional buzz at the locality level • Launching special offers for day zero

13. Summary • Nuances that are involved in starting such a venture which demands a huge investment • It is prudent to contemplate these measures and then take a judicious call about how to go • Experts advice helps to tackle these small issues which can pose bigger problems at a later stage, if not dealt today. • Business consultants or specialists like supermarket setup consultants to help you with the initial design and setup • We at YRC are having experts with awareness of the industry’s latest trends, knowledge of changing customers’ tastes and preferences and competitiveness in the industry. • For more information visit www.yourretailcoach.com