Executive Summary
This business plan outlines the framework for establishing and operating a profitable supermarket in Nigeria. The supermarket industry is experiencing rapid growth due to urbanization, an expanding middle class, and changing consumer lifestyles. This plan highlights key strategies for providing quality products and exceptional customer service to gain a competitive edge.
Business Description
● Business Name: PrimeMart Supermarket
● Location: Lagos State, Nigeria
● Business Structure: Limited Liability Company
● Industry: Retail/Consumer Goods
● Products and Services:
○ Groceries: Fresh produce, packaged foods, and beverages.
○ Household essentials: Cleaning supplies, toiletries, and kitchenware.
○ Specialty items: Imported goods, organic products, and gourmet foods.
○ Additional services: In-store bakery, deli, and delivery options.
Objectives
1. To establish a supermarket that meets the daily needs of consumers within a 5km radius.
2. To achieve an average monthly revenue of NGN 10,000,000 within the first year.
3. To provide a one-stop shopping experience with over 10,000 product SKUs.
4. To expand into three additional locations within five years.
Market Analysis
● Industry Overview:
The supermarket sector in Nigeria is growing due to increasing
urbanization and a shift towards organized retail. Consumers value convenience,
variety, and quality.
● Target Market:
○ Urban households and working professionals.
○ Restaurants and small business owners.
○ Health-conscious consumers seeking organic or specialty products.
● Competitive Advantage:
○ Prime location in a high-traffic urban area.
○ Wide product assortment tailored to local tastes.
○ Competitive pricing and promotional offers.
SWOT Analysis
● Strengths:
○ Strong supplier relationships ensuring consistent stock levels.
○ Modern store layout and customer-centric services.
○ Experienced management team with retail expertise.
● Weaknesses:
○ High initial capital investment.
○ Dependence on reliable supply chains for imported goods.
● Opportunities:
○ Expansion into e-commerce and home delivery services.
○ Partnerships with local producers for exclusive products.
○ Introduction of private-label brands.
● Threats:
○ Intense competition from established supermarket chains.
○ Economic fluctuations affecting consumer purchasing power.
Operational Plan
1. Store Setup:
2. Supply Chain Management:
3. Staffing:
4. Marketing and Customer Engagement:
Marketing Strategy
● Branding: Position PrimeMart Supermarket as a premium yet affordable shopping
destination.
● Sales Channels:
○ In-store shopping experience tailored to customer convenience.
○ Online store for seamless ordering and home delivery.
● Promotions:
ETC…
Get our updated Supermarket Business Plan / Feasibility Study. To place an order, pay N15,000 to
GTBank (Guaranty Trust Bank)
Account Name – Uwadia Eyemeka
Account No – 0127561472
OR
OPAY
Account Name – Eyemeka Uwadia
Account NO. – 7036785443
After payment text your name, send a text of your e-mail address to 07036785443 and you’ll receive it.
Do you want to start a profitable supermarket business in Nigeria and you are looking for a feasibility study which would teach you all the important secrets and aspect of opening a supermarket in Nigeria.
We have done due diligence and evaluated all the basic requirements for starting a supermarket, we also have done analysis of the capital required to start a mini or large scale supermarket in Nigeria.
A good supermarket business plan has been put together as a guide on how to open and run a supermarket business in Nigeria.
This supermarket business plan in Nigeria has been recently updated by our professional business plan writers and can be used for Social Grant, Applications, Bank Loans, Proposal writing, Business Concept Note, Competitions etc. Starting a supermarket business can be very lucrative and as such needs a lot of strategic planning and implementation.
Many people usually confuses a supermarket with a provision store but there are different, a supermarket is usually bigger than a provision store.
To start and run a successful supermarket in Nigeria there some major things you must get, some requirements you must meet and lots of factors to consider. The first is getting a Supermarket business plan and feasibility study.
You must have a very good and detailed business plan before starting this business. This business plan will guide you, a business plan is usually like a roadmap and that is why its very important that you have one. You can call professionals to help you with a feasibility study of a supermarket business in Nigeria or you can place an order, we already have a detailed and professionally written supermarket business plan and feasibility study.
Get Your Supermarket Business Plan / Feasibility Study. To place an order, pay N15,000 to
GTBank (Guaranty Trust Bank)
Account Name – Uwadia Eyemeka
Account No – 0127561472
OR
OPAY
Account Name – Eyemeka Uwadia
Account NO. – 7036785443
After payment text your name, send a text of your e-mail address to 07036785443 and you’ll receive it.
As you may already know Supermarket or grocery stores account for the largest share of food store sales in Nigeria. statistically grocery stores accounted for 90% of the country’s food and beverage store sales, while supermarkets accounted for 95% of the total grocery store sales.
The food retail industry is a high-volume, low-margin business, with cutthroat competition from all quarters. It includes grocery stores and supermarkets, as well as convenience stores.
Starting a supermarket in Nigeria requires more than just knowing how to buy from wholesalers and retailing, you have to have the skill for knowing how to turn first time costumers to regular costumers.
Indeed Starting a business requires proper planning, startup capital and business/ human relation skills.. With this you can turn your supermarket business into a very profitable venture.
Supermarket Feasibility Study
If you are still asking what a supermarket is, according to the Oxford dictionary, a supermarket/grocery store is a large self-service store selling food and other goods. Definitely, it is products that are sold in supermarkets. If you have a passion for selling, that is, retailing other peoples product, then it is better you start up your own supermarket chain.
Important Factors before setting up a supermarket In Nigeria
How much capital Is Required To Start A Supermarket
Where can I get goods to stock my supermarket?
Suitable Location For Your supermarket?
How many items do I need?
Profitability of starting a Supermarket business and daily profit?
What commodities and products would I sell In My Supermarket
How would I arrange my shelf?
What machines do I need?
Factors to Consider Before Starting a Supermarket Business
Location
One of the major factors to consider in this line of business is LOCATION. Location is everything as far as this business is concerned. Where your supermarket is located plays a major role as to the success or failure of the business. There are some things you must consider when choosing a location for your supermarket.
Accessibility and Visibility
Setting up your supermarket where its visible and easily accessible very important because it means people will find it very easy to locate your shop. A place where lots of people walk pass and drive by is a strategic position.
Population
This is very important, a well populated area is good for the business because there is a high tendency that large number of people will be buying from you.
Competition
Competition is one major challenge of every business, you have competitors that wants to be on top of you and that you want to be on top of so its better you choose a location where you will not have any competition.
Commodities Suppliers
These are wholesale distributors, you need to find them and buy directly from them and also manufacturers of different commodities. You are at an advantage when you buy from wholesale distributors because you would buy at a lower price thereby keeping your expenses low, when you have developed a good relationship with them you can buy on credit and pay later.
Warehouse
You need to have a warehouse where you store your goods. It could be the same building or somewhere very close. It is not advisable to wait until your shop is almost empty before you restock it. Since this goods you are ordering are in bulk it may take a while before they are delivered to you so this is the reason you need to have a warehouse.
How much capital do I need to have to open a supermarket?
How much startup fund needed to start a supermarket in Nigeria? There is no specific answer to this question as it totally depends on your financial ability.
How should do I expect daily as net profit?
This is very important, you set a business goal, for instance, in three months time, I would make a profit of N15,000 naira. You work towards it.
What commodities and products would I sell In My Supermarket
Organic Food – Fresh fruits and raw vegetables
Cosmetics and beauty products – Hair cream, body lotions, make-up kits, powder, etc.
Hair Products – Hair extensions, hair relaxing creams, shaving lotions, etc.
Jewelries – Wrist chains, watches, earrings, necklaces, pendants, etc.
Clothes – Suits, jackets, shirts, underwear, sweaters , skirts, pajamas, etc.
Pharmaceutical Products – Condoms, hand gloves, Hydrogen peroxide, etc.
Kitchen Wares – Plates, cutleries, kitchen pots, pans, stoves, dish washers, gas burners, toasters, etc.
Toys: Kids toys especially cartoon characters
Canned Foods – Tomatoes, sardines, canned sauce, etc.
Diary & Poultry Products – Milk, meat, eggs, cheese, etc.
Drinks – Dry gin, wines, fruit juice, soft drinks.
Footwear (Male and Female) -Loafers, boots, sandals, slippers, etc.
Packaged chin chin – bread, assorted biscuits, etc.
Toiletries – Soap, Toilet rolls, Face towels, Hand napkins, and Shampoos.
Household Products – flower vases, shoe bags, portable wardrobes, etc.
Sports Equipment – Skipping rope, board games, running shoes, dumbbells, static bicycles, etc.
Electronics – Phones, television sets, laptops, Sound systems, etc.
Seasonal Products – Gifts for celebrations, Christmas, anniversaries, birthdays, etc.
Food Stuffs: Rice, beans, tin tomatoes, etc.
Pet Supplies – Pet food, Liquid soap for bathing them and Pet toys.
TABLE OF CONTENT
Executive Summary
Introduction
Business Description
Products and services
Competitive Advantage
Market Research
Competitor Analysis
Sales and Marketing Plan
Operational Plan
Business Risk
Management and Structure
Financial Plan and Projections.
Our Supermarket Business Plan and Feasibility Study in Nigeria can be used to access bank loans, proposal writing and grant applications. This business plan was complied after a thorough feasibility study on Supermarket business in Nigeria was done.
Supermarket Business Plan and Feasibility Study. To place an order, pay N15,000 to
GTBank (Guaranty Trust Bank)
Account Name – UWADIA EYEMEKA
Account No – 0127561472
OR
OPAY
Account Name – Eyemeka Uwadia
Account NO. – 7036785443
After payment text your name, send a text of your e-mail address to 07036785443 and you’ll receive it as soon as your payment is verified.