How to Start a Grocery Business in Egypt
Grocery store is one of the profitable businesses that improve people’s lives. Otherwise called supermarkets, grocery stores sell food and other household items including kitchen utensils, cleaning materials, self-care items, disposable items, etc.
It has a high yielding potential and is one of the most profitable ventures you can delve into. Grocery stores are very useful in the community and so, life could be very miserable without them around.
Starting a grocery store isn’t really difficult and doesn’t require any formal training. It requires diligence, ability to stay organized, honesty and common sense. No doubt, the business has proven again and again that it can easily survive in any part of the world as long as it is properly managed and situated at the right place.
Like every other business, starting a grocery store requires deliberate planning, capital and basic business skills. So, there is more to starting the business than just starting. If you want to start a grocery store in Egypt, you have found a perfect business idea. This simple guide will help you to take the next step after conceiving the business idea- starting the business.
How to start a grocery store in Egypt.
Follow these simple step to start a grocery store in Egypt:
Develop Your Business Plan
As an entrepreneur, the importance of a business plan cannot be overemphasized. Planning your business is the first step to take when starting any new business. A clear business plan will help define the specifics about your business. Such specifics include the business name, size, operational procedure etc. Knowing that there are many other grocery stores in Egypt, it is important that you make specific plans on how to make yours unique and significantly stand out from your competitors. You need to also consider your start up capital, how much and how long it would take you before you break even, you also need to identify your target market. All these are planning.
A business plan summarizes your business and it’s goals and clearly indicates the following: the executive summary, business overview, products and services, market analysis, marketing strategy, business structure, financial analysis and conclusion.
Get a Shop in a Good Location
The profitability of any business greatly depends on it’s location. Get a shop in an area with many people. The cost of renting a shop varies from place to place. You can get a shop from as low as 30,000EGP to as high as 300,000EGP. It is very important to consider electricity supply in your choice of location. Lack of electricity supply could increase the cost of running the business.
Get the Required Start-up Capital.
Starting a grocery store may require a lot of initial financial commitment. You will need to get a spacious place in a good location, furnish it, stock it with lots of goods, pay for operational permit, pay your employees. You will also need to purchase the necessary equipment such as tables, shelves, refrigerator, generating set, desktop, trolleys, baskets, etc. All these should be borne in the start up capital.
Stock Your Store
After the shop has been set, it is time to call your supplier to stock the supermarket with quality goods. Make sure the goods are of good quality and from a reliable supplier.
Get the Necessary Operational License.
Failure to acquire necessary permits and licenses can result in hefty fines. In some cases, your business might even be shut down. You should obtain the licenses and permits from the relevant authorities.
Get Business Insurance
Your business needs insurance in case of any eventuality. Insurance coverage ensures that your business operates safely and lawfully, and protects your business financial welling in the event of a covered loss.
Hire Competent People
You will need the services of other people in the supermarket. Employ people that are willing to work, teachable, trustworthy and have good interpersonal relationship. You can even get them trained so they can deliver the kind of services you require of them.
Start Selling and Promoting Your Supermarket.
Now that every necessary thing has been put in place, it is time to start selling. Be unique in your services and make people know you for the kind of services you are rendering. By doing this, you are building a name for yourself, your brand.