Experience, Secrets of Super Profit Mini Supermarket Business
“Is it profitable to open a mini supermarket?” or “How much capital does a mini supermarket business need?” . That is the question that many of you have inboxed to Malu’s fanpage , hoping to be answered.
In recent years, many individuals and units have been very successful when choosing to focus on investing in this field. However, in fact, opening a mini supermarket is not easy. Just like in other fields, when you first enter a business, you may not know where to start, what to prepare and what to note, etc.
If you are interested in the mini supermarket model but don’t know where to start, this article will provide you with more information on the steps of creating a mini supermarket business plan.
How is the mini supermarket business market going?
Currently, the mini supermarket model is a new form of shopping that is favored by many consumers. Instead of choosing to buy goods and food at grocery stores or in markets, consumers choose to go to mini supermarkets for convenience in terms of time and cost savings.
Moreover, the products in the mini supermarket have listed prices, clear origins, and quality assurance, so they gain the trust of customers.
But competitors in the mini supermarket business are not few. Looking around, you can see big guys like Vinmart or Kmart. Especially when the convenience store model also shares the same products and customers with the mini supermarket model. In other words, you will have to fight more with opponents like Circle K, Shop & Go, 7Eleven…
To answer the question “Is the mini supermarket business profitable?” sure yes. If there is no profit, the big guys have all “put on their hats and left”. However, profit or not, more or less profit depends on your business plan, your market experience…
Because everyone admits one thing: “If business was easy, it wouldn’t be your turn to make money”. So, please refer to Malu’s experience of opening a mini supermarket below.
The 6-step process to open an effective mini supermarket
Step 1: Choose the appropriate mini supermarket model
Currently, on the market, there are three most popular mini supermarket business models that consumers often encounter are:
Mini-market model for domestic popular consumer goods.
Mini supermarket model sells 60% of common goods, 40% of imported goods.
Mini supermarket model sells 40% of common goods, 60% of imported goods.
Each model has its own advantages and disadvantages that we cannot judge which model gives the best performance. Choosing a business model depends largely on market research and the capital you have. So any model can be right for you.
Determining the assessed business model is extremely important and is the first step you need to do to open an effective mini supermarket. This decision is also a factor influencing the next steps. Therefore, you should spend a lot of time researching and researching before choosing.
Without capital you will not be able to execute any business plan. Capital is an extremely important thing that every business owner must think about. Each business model has its own characteristics that determine the available capital.
Therefore, after choosing a business model, you need to determine the capital structure suitable for that model. This is not subjective because miscalculation of investment capital is one of the main causes of business failure .
You must have for yourself a detailed plan, in which you plan all the costs you will invest. With the opening of a mini supermarket, you need to have basic expenses such as: The cost of renting space, the cost of investing in goods, the cost of decoration, the cost of hiring staff, the cost of installing equipment equipment, and a few other costs incurred.
Step 3: Choose a suitable location to open a mini supermarket
Mini supermarkets often sell essential products, serving the needs of each family, so potential customers are everywhere. However, in order to invest in a mini supermarket to get the best profit, choosing the right location is a top important factor.
The experience of opening a mini supermarket is that it is necessary to choose densely populated places, right on major streets, the more convenient it is. You can also choose to open a mini supermarket on small roads, but make sure that the traffic is not too difficult, and it is an easy-to-see and easy-to-find location.
In addition, you should not choose locations that already have a dense density of other mini supermarkets to minimize the level of competition.
The second thing to note about the business location is the premises. From practical experience, we recommend that you open a mini supermarket with a guaranteed space of models and standards to be able to arrange goods neatly.
Normally, a mini supermarket with an area from 70 m2 to 120 m2 is enough. Do not use premises that are too small or too large. Note to design an extra space for parking to ensure safety when customers come to your mini supermarket.
Step 4: Find a reliable source
The source of goods is a factor that directly affects your capital and revenue. Therefore, this step needs to be invested correctly and thoroughly by you.
In the early stages of opening a store, you should contact distributors, manufacturers or wholesalers directly. This way you will be offered wholesale prices, receive direct price incentives, advertising programs, promotions.
In addition, there can also be a commitment on the form of delivery, the form of payment, the commitment to return the goods, the commitment to the quality of the product. After contacting the manufacturing company directly, they will provide you with the phone number of the contact person for the regional distribution agents and staff will be on site.
Besides, you can also import goods at wholesale markets. In the North can be mentioned: Northern Wholesale Market (Long Bien sewing door), Southern Wholesale Market (Den Lu), Dong Xuan market, La Phu market, Tho Tang market (Vinh Phuc). In the South, there are Tan Binh market, An Dong market, Kim Bien market, Ba Chieu market, …. These are all addresses that provide large consumer goods at good wholesale prices.
In addition, finding more sources of imported goods is also a smart choice to both meet the needs of consumers and diversify the items in the supermarket.
If you intend to import goods from abroad, you can order at major e-commerce sites or order through intermediary suppliers. Some prominent e-commerce channels that you should know such as: Ebay, Amazon (USA), Tmall, Alibaba (China), Gmarket (Korea), …
Step 5: Display goods effectively
Did you know that the way you arrange your goods has an impact on increasing sales for your business? In a sufficient area of the mini supermarket, in addition to arranging goods neatly and beautifully. Store owners should also pay attention to buyer behavior.
If you pay attention, you will see that every person entering the supermarket will bring back large bags of goods, but not all products are what they originally wanted to buy. The reason for this behavior is that the way the supermarket’s goods are arranged has an impact on customer psychology.
Here are a few tips on how to effectively organize your mini supermarket that Malu will share with you.
1. Convenience items should be placed near the checkout counter: Buyers will have to stop here to wait for the staff to pay, so they have time to pay attention to the items displayed around. Or after paying, customers can have a little extra change, they often buy some convenient items such as chewing gum, lollipops, etc.
2. Promotional items should be displayed eye-catching and in front of the aisle: This seems to be the best way to attract customers’ attention from the moment they walk in. At the same time, it also distracts customers from the original purpose, making them quickly attracted to other products.
3. The essential items are kept in the same: At that time, the buyer is forced to go deep inside the supermarket, skim through a lot of shelves to find the necessary items. And so, most customers will have to “conveniently” add a few more items to their cart.
4. Children’s products placed under low shelves: This arrangement helps children also be able to choose and ask their parents to buy their favorite products.
5. Sort related products next to each other: The division and arrangement of related products next to each other not only helps you manage goods easier, but also helps customers shop more conveniently. When customers intend to buy a certain product, they often think of other similar products, so the rate of them buying more is very high.
That is an extremely effective way to lead the shopping psychology of customers that most people who open a mini supermarket apply.
Step 6: Make a marketing plan for your mini supermarket
The market competition is increasingly fierce. Customers have more choices about where to buy, about goods, and about prices among mini-marts. Building a Marketing plan and implementing customer services is the lifeline for your mini supermarket to grow and retain customers.
Marketing activities that support sales that you can perform include:
1. Accumulate points, give gifts by week, month
After each purchase at your mini supermarket, customers can receive loyalty cards.
When the number of points that customers accumulate is enough value as specified by you, they will be exchanged for gifts or discount cards, membership cards to receive incentives for the next orders.
2. Discounts and discounts for loyal customers
The psychology of customers is very fond of when paying and receiving notifications of discounts and discounts. Whether the amount is small or large, the person receiving the discount will also feel different and prioritized.
Establishing good and lasting relationships with customers in any business is crucial to your success.
3. Opening online ordering and purchasing services to increase convenience for customers
In the current information technology era, online shopping is no longer strange to anyone. So why not take advantage of that opportunity to promote and increase your brand awareness. Simply, you can set up a fanpage, Facebook group, Zalo, Instagram, …
If you invest more, you build your own sales website with quick and convenient ordering and payment functions. Either way will bring great results, so don’t forget to develop the online market.
Above are the secrets of opening a super profitable mini supermarket that Malu has accumulated from practice to share with you. Hope this article has partly answered your questions and helped you. Good luck!