millions of dollars lol.
but trust me , this is a business that I want to establish but sorry to say that I have none.
Topic: How much is good to start a supermarket? (Read 141 times)
It's depends how you want but you can start a mini supermarket with 2m depending on the location and how determined you are to succeed as an entrepreneur you need to plan yourself very well..
You need to work on the
1 Location
2 Time
3 Who is working with you
4 Security of the location..
You need to work on the
1 Location
2 Time
3 Who is working with you
4 Security of the location..
There are lot of factors to be considered if truly you want to start a supermarket, first i don't know the country of your residence but i believe our currencies may not have the same values. To start you need a space (renting and bigger space house or shops) this depends on the kind of supermarket you want to open.
I think using google i have some quick search about forms of supermarket we have:
To start each of these depending on the amount you may have, with my local currency you are expected to start with at least N5,000,000 which is about $6,748 and above depending on your location of the city where you live.
I think using google i have some quick search about forms of supermarket we have:
Quote
Neighborhood grocery.
Convenience store.
Delicatessen.
Greengrocer.
Ethnic market.
Health food store.
Milk bar.
Convenience store.
Delicatessen.
Greengrocer.
Ethnic market.
Health food store.
Milk bar.
To start each of these depending on the amount you may have, with my local currency you are expected to start with at least N5,000,000 which is about $6,748 and above depending on your location of the city where you live.
First things first, what will be the most challenging part is to secure a space at your preferred location; seeing a space can be very challenging, especially in a developing environment.
Another challenging thing is when you start up Capita. There is a saying, "Cut your coat according to your size." Your desire to own a supper market is good, but those desires should be shaped based on what you have at hand. Your shop space should also match your assets and budget.
Like you said, "security is very important for a business start-up." You should always mind where you site your business because starting a business today and getting robbed the next day is really something that can shut down a business and kill the owners. It's expensive to own a shop in developed areas, but I assure you they are safer because of the security personnel that might have been put in place based on the exposure the place has.
Your budget Capital should be based on the size of the supermarket you plan on opening, and it should also be based on your economy's situation, your country's currency, etc. You can start with a rented space and not build a shop from the start.
Another challenging thing is when you start up Capita. There is a saying, "Cut your coat according to your size." Your desire to own a supper market is good, but those desires should be shaped based on what you have at hand. Your shop space should also match your assets and budget.
Like you said, "security is very important for a business start-up." You should always mind where you site your business because starting a business today and getting robbed the next day is really something that can shut down a business and kill the owners. It's expensive to own a shop in developed areas, but I assure you they are safer because of the security personnel that might have been put in place based on the exposure the place has.
Your budget Capital should be based on the size of the supermarket you plan on opening, and it should also be based on your economy's situation, your country's currency, etc. You can start with a rented space and not build a shop from the start.
Because some of the forum members have never started this kind of business and others not in business at all, there is a chance to get answers purely based on reasoning. You should read through most of the responses and find a link between them, so you can have an answer to hold on to, if it is also possible, seek professional advice.
All this will cost you some money, because starting up a business is always very expensive.
Draw a budget and list out all the things needed to start the business, do a proper market survey.
If someone wants to start a supermarket business as economics graduates and has passion to own a supermarket business, what amount will advise the person to kick start up?
There is no fixed amount but you need enough capital depending on the size of supermarket you want to own, to get a good space at a good secure location, do some nice interior work and get all the things needed for the new business before stocking up the supermarket. You need to get legal documents for your new business also.All this will cost you some money, because starting up a business is always very expensive.
Draw a budget and list out all the things needed to start the business, do a proper market survey.
Make your research based on where you are located, you may spend just $10000 to open a supermarket in a country, but spend five times more to open the same supermarket in another country.
-snip-
Another thing is how you want the super market to be, you want it to be small, medium, big or very big. The bigger it is the more you may spend.
Off course, cost of building a super market depends on many aspects. We can not certain how it will cost before determining specific criteria. -snip-
Another thing is how you want the super market to be, you want it to be small, medium, big or very big. The bigger it is the more you may spend.
Beside that, building new brand of super market is more rigid than buying a super market franchise. For the example, you can be easier to buy "7-eleven" franchise than starting a retail shop from zero.
You need to have Liquid Capital around = 50.000 USD - 150.000 USD (Depending on where countries do you live) to start this business. This is the requirement =
Reference = https://www.franchisegator.com/franchises/7-eleven/
I want to know, what scale you want to open a supermarket, small, medium, or large? I never opened a supermarket, but I did open a small grocery store for my wife to sell, and as far as I remember, it cost me about $5,000 and $3,000 to keep the business afloat for months. But I think the grocery store will be very different from the supermarket scale, meaning you need a lot of money to start a business.
If you're a recent economics student, it's risky to use a large sum of money to start a business, unless your family is well-off.
If you're a recent economics student, it's risky to use a large sum of money to start a business, unless your family is well-off.
If someone wants to start a supermarket business as economics graduates and has passion to own a supermarket business, what amount will advise the person to kick start up? Or what do you think are the most challenges to own a supermarket business?
A person who only wants to open a supermarket for business in his life I think does not necessarily have to be an economics graduate although it would look great if an economics graduate was able to open such a business in his youth. And for the biggest challenge in this case is competition between supermarkets and also the basic capital to start is also not small, although I have never doubted everyone's ability in any case.Quote
Mostly scared of insecurities about it because I have always observed cases of robbery in superstores but this is not a challenge to worried about then what amount will be considered for the business? Let me hear your opinion
Robbery that you have seen in several superstores is a very common view in my opinion because if you are afraid of it happening when you open the supermarket you are running, you can prepare something to ward off them (such as sharp weapons for example), or (learn science defend yourself in order to catch the robbers who enter your supermarket). But if you are not at all worried about that, it means you just have to make sure of a strategic place in an urban area that is most visited by everyone so that your first sale results can be a little bigger than what you expected and also don't forget to make sure about security. which is better there (where you open a supermarket) because wherever someone is, security is the main thing that must be seen by him for the smooth running of business in the long term
Starting a supershop require a big amount of money the capital for start up is not specific but all I know is it is necessary to start with a huge amount because at first you might experience loss and also gain and remember people always patronise a place that is well organised and neat so it demands for a supershop were people get there daily needs to be well organised and placed in other
If you want to start a supermarket, you can spend more money. Because if you start a supermarket by spending more money then you can be very profitable. If you want, you can launch it at the supermarket share.
Supermarket is one of business which have a high asset turnover rate, so you're need to start with huge amount money and only take small profit, because this business is focus to sell as much as you can rather than looking to make big profit for sell one product.
Any business has a risk of being targeted by robbery or criminal, so you shouldn't to worry about this matter, just try to raise your security level.
If you don't have a lot money, it's better to sell your own created product than looking to sell a same product like the other competitors.
Any business has a risk of being targeted by robbery or criminal, so you shouldn't to worry about this matter, just try to raise your security level.
If you don't have a lot money, it's better to sell your own created product than looking to sell a same product like the other competitors.
Before even stepping on thinking about costs, several surveys need to be carried out including feasibility and potential customers. Anyone would be considered stupid if they built a supermarket in a low-density residential area.
If someone is a graduate of economics, then the best advice is an analysis of his academic skills rather than the advice of random people on the internet.
If someone is a graduate of economics, then the best advice is an analysis of his academic skills rather than the advice of random people on the internet.
If someone wants to start a supermarket business as economics graduates and has passion to own a supermarket business, what amount will advise the person to kick start up? Or what do you think are the most challenges to own a supermarket business?
Mostly scared of insecurities about it because I have always observed cases of robbery in superstores but this is not a challenge to worried about then what amount will be considered for the business? Let me hear your opinion
Mostly scared of insecurities about it because I have always observed cases of robbery in superstores but this is not a challenge to worried about then what amount will be considered for the business? Let me hear your opinion
Building a supermarket requires high management and negotiation skills. A strategic location is not enough, because many supermarkets are closed, even in strategic locations. Management must be able to see the market and negotiate with suppliers to be able to get the best price to increase profit on their sales. They also have to be able to manage the business to keep it running, that can be through marketing or improving service to customers by providing various or quality rewards and products. Issues regarding stock, cash flow, and other expenses also need attention - don't let sales increase but the profit you get isn't worth the expenses. And if a supermarket has a large area of land with quite a lot of visitors, renting out part of the area/shelves to third parties is also quite good. Besides the supermarket getting a rental fee every month, it can also increase its credibility.
If someone wants to start a supermarket business as economics graduates and has passion to own a supermarket business, what amount will advise the person to kick start up? Or what do you think are the most challenges to own a supermarket business?
Mostly scared of insecurities about it because I have always observed cases of robbery in superstores but this is not a challenge to worried about then what amount will be considered for the business? Let me hear your opinion
Mostly scared of insecurities about it because I have always observed cases of robbery in superstores but this is not a challenge to worried about then what amount will be considered for the business? Let me hear your opinion
Depends. On the country you live in, city you live in, the street you live in, the size of the shop... How much is good? Well, it depends on lots of stuff. The biggest question is, why would you want to own a business like that? Why super market at all? If you want to do retail, you can sell anything you want... Why are you interested in the supermarket business? Why don't you sell basic jewelry for example? You can rent a smaller shop (smoller rent too) and your customers will be mostly girls. I think you should take this into consideration.
If someone wants to start a supermarket business as economics graduates and has passion to own a supermarket business, what amount will advise the person to kick start up? Or what do you think are the most challenges to own a supermarket business?
Mostly scared of insecurities about it because I have always observed cases of robbery in superstores but this is not a challenge to worried about then what amount will be considered for the business? Let me hear your opinion
Building a supermarket will have country-specific and location-specific costs. the culture, product price and VAT are not the same in all countries. so you can never match the same calculation for all countries. But if you want to do a small supermarket it will cost you at least $100k. And building a high quality supermarket can take hundreds of times that amount. Supermarkets are not like ten normal stores anymore. So the cost here is definitely high. So you must have a high budget to build a supermarket. Otherwise you will not be able to realize your supermarket dream. in this case, if your budget is low, you can jointly make a supermarket with a few partners.Mostly scared of insecurities about it because I have always observed cases of robbery in superstores but this is not a challenge to worried about then what amount will be considered for the business? Let me hear your opinion
If someone wants to start a supermarket business as economics graduates and has passion to own a supermarket business, what amount will advise the person to kick start up? Or what do you think are the most challenges to own a supermarket business?
Mostly scared of insecurities about it because I have always observed cases of robbery in superstores but this is not a challenge to worried about then what amount will be considered for the business? Let me hear your opinion
Mostly scared of insecurities about it because I have always observed cases of robbery in superstores but this is not a challenge to worried about then what amount will be considered for the business? Let me hear your opinion
You are adding "super" in front of it to make it seem better. You're just on about starting a normal retail shop with a much smaller retail footprint than a supermarket or super store. Supermarkets did spawn from these smaller shop experiences many decades ago, but it is very expensive to run such a large store - you need lots of stock (some of which will be food with an expiry date), security, staff to do lots of jobs and a logistics chain to resupply. $10k will get you absolutely nowhere in places like the EU or USA, at best 3 months rent and taxes (most property agents will want to sell a year lease minimum)
This largely depends on you, your style, your plan and the country of residence. However, I would advise you to carefully define what you mean by the 'Super'market as many might mistake it for just a minimart or small grocery store.
For me, you much be rich before you can put a standard supermarket in place, and even if you are not so rich, you much have been far beyond an average person that perhaps has access to loans as well.
This is not so tasking if money is available, but be sure that to inquire and learn all the rudiments about it, they will help you so much.
For me, you much be rich before you can put a standard supermarket in place, and even if you are not so rich, you much have been far beyond an average person that perhaps has access to loans as well.
This is not so tasking if money is available, but be sure that to inquire and learn all the rudiments about it, they will help you so much.
Make your research based on where you are located, you may spend just $10000 to open a supermarket in a country, but spend five times more to open the same supermarket in another country.
Another thing is if you want to buy a land and build your supermarket or you want to rent a shop for it. Buying land and building your own supermarket will make it more cost.
Another thing is how you want the super market to be, you want it to be small, medium, big or very big. The bigger it is the more you may spend.
Another thing is if you want to buy a land and build your supermarket or you want to rent a shop for it. Buying land and building your own supermarket will make it more cost.
Another thing is how you want the super market to be, you want it to be small, medium, big or very big. The bigger it is the more you may spend.
If someone wants to start a supermarket business as economics graduates and has passion to own a supermarket business, what amount will advise the person to kick start up? Or what do you think are the most challenges to own a supermarket business?
Mostly scared of insecurities about it because I have always observed cases of robbery in superstores but this is not a challenge to worried about then what amount will be considered for the business? Let me hear your opinion
Mostly scared of insecurities about it because I have always observed cases of robbery in superstores but this is not a challenge to worried about then what amount will be considered for the business? Let me hear your opinion
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