It is lucrative, but management is difficult. Even if you are using a POS software and barcode scanner, if you don't have responsible staff with character, you'll suffer huge setback

Lucrative if you have a very wide variety of goods and in a mid- high income location and your can do a nice store with good ambience..
Your profit also depends a lot on the spread you can make on goods you buy.
So you have to know wholesalers with the lowest prices and build the relationship so you can even begin to get spontaneous finance.
You wont even need to pay for goods, they supply you and your recoup funds from sales, remove your profit and then pay them after an agreed time, say 2 weeks..

Then a lot depends on good management,accounting and Inventor keeping and good staff, very important, if your inventory keeping and staff are bad, it'll ruin your business.
If you'll manage it yourself you have to be very hands on and give close marking.
If not employ a very sound accountant/ bookkeeper.

Very important;
Location
Variety of goods
Procurement/ good relationship with the wholesalers
Inventory keeping and accounting
Good staff
Store ambience

Any business is good
Just location
And do it to serve people not for profit

Supermarket/provision business is very lucrative but you have to be very discipline to be able to scale up..

Also try to look for a very strategic location so that you can roll up your capital fast..

I have observed that doing business now in Nigeria is far from passion..

Do a business thats fast in turn ups..even if it's qwaqwa..

lafiagi007:
Op why you no leave FTC to another person? Abi na you want help yourself?
Back to business, I believe it's very lucrative, not necessarily because there's large profit on the goods but for the fact that you have good turnover always, plus you'll get goods from companies and pay when you have.

get goods from companies and pay when... oga complete ur sentence jor.

It's quite lucrative when well managed. But it can be a problem if you don't have good knowledge of fast selling SKUs and always remember the issue of expiry!!

Paulyaweh:
Lucrative if you have a very wide variety of goods and in a mid- high income location and your can do a nice store with good ambience..
Your profit also depends a lot on the spread you can make on goods you buy.
So you have to know wholesalers with the lowest prices and build the relationship so you can even begin to get spontaneous finance.
You wont even need to pay for goods, they supply you and your recoup funds from sales, remove your profit and they pay them after an agreed time, say 2 weeks to one month

Then a lot depends on good accounting and Inventor keeping and good staff, very important if not if your inventory keeping and staff are bad, it'll ruin your business.
If you'll manage it yourself you have to be very hands on and give close marking.
If not employ a very sound accountant/ bookkeeper.

Very important;
Location
Variety of goods
Procurement/ good relationship with the wholesalers
Inventory keeping and accounting
Good staff
Store ambience

Hmmm, what do you think of drink business ?
How lucrative it is?

I mean in large quantities with budget of 1.5-3m.

Can you break it down ?

Soft drinks per pack specifically

The major challenge with supermarket business is inventory management.
There are so many varieties, quantities and flow , that it’s impossible to keep up with stock taking.
For example, you get new stock everyday. at the same time people are buying, a few are damaged, some stolen and others bad. You can’t account for all of these in a rotating manner. Not daily, not weekly. It is tedious to even do

For this reason, your workers will take advantage. When you have 2 or more workers, who do you hold responsible for missing items? Even, if they sell and don’t record the amount, how do find out immediately? A bar of chocolate removed from one box might be the profit for the two cartons. The profit margin is usually very little. More Profit it made by more turnovers.
Even when you find out that something is missing, maybe a month after, which of the employees would you know did it? How do you even know it wasn’t stolen (shoplifting).
Supermarket business only thrives when managed in the traditional way. Oga and his boys. The boys know there are dare consequences if any questionable move is made with money and stock.
Do it the standard accounting way, it collapses.

It is lucrative if you have good hands as staff.
If your staff are dubious, even if you are using the best POS software with the best scanner, you won't do well.

PoloG:
Greetings y'all..

Please i would like to know how lucrative is a supermarket business ...

How much would it cost to setup a standard one

And what is the ROI monthly/yearly ...

Location is ibadan

Wetin you need Na 2 odds

It's a good business

PoloG:
Greetings y'all..

Please i would like to know how lucrative is a supermarket business ...

How much would it cost to setup a standard one

And what is the ROI monthly/yearly ...

Location is ibadan

Very lucrative, forget all the posters who are telling you about saturation. People will always need daily need.

Is lucrative I must say I have two already one I. Ikeja and one in PH . Ias for Ibadan I can't tell. It depends,are u the owner of the warehouse or shop and land? Perhaps you may need at least 5 million for a start if u want it to look good more rich goes with 25M there about I started with 15m each.so location is another important thing and the Vendor where u buy it and the management because na them go send u back to village. Thanks

PoloG:
Greetings y'all..

Please i would like to know how lucrative is a supermarket business ...

How much would it cost to setup a standard one

And what is the ROI monthly/yearly ...

Location is ibadan

Be patient. It is not lucrative right now till Tinuunbu returns PETER OBI/AHMED DATTI stolen mandate

PoloG:
Greetings y'all..

Please i would like to know how lucrative is a supermarket business ...

How much would it cost to setup a standard one

And what is the ROI monthly/yearly ...

Location is ibadan

If you want the granular details in terms of investment and returns, you may have to engage a consultant for a proper analysis. Truth is this will lucrative although monies won't be made in huge margins but mostly on turnover. You have to watch out for pilfering too.

Is game shop for unprivileged children who can't afford PS 4 or 5 profitable?




Op let do this one.

Nigerians we got be smart, what if the person behind this moniker is not actually from where you think He hails from but an impostor trying to jam two heads?
Sometimes I marvel at how a smart generation is easily deceived by old school generation politicians

Macmoni:

It’s unfortunate people like you I regret sharing my country with why on earth will you drag bigotry to the topic did you see anything about politics or division on this topic?
You people are the main bigots insulting other people just like that, from your moniker one can tell you’re just a local cultist, you people should face your problems and live us off your gutter mouths
Shameless people

Spacw booked.will be back to drop my cimment

GaybigBoy:
Is lucrative I must say I have two already one I. Ikeja and one in PH . Ias for Ibadan I can't tell. It depends,are u the owner of the warehouse or shop and land? Perhaps you may need at least 5 million for a start if u want it to look good more rich goes with 25M there about I started with 15m each.so location is another important thing and the Vendor where u buy it and the management because na them go send u back to village. Thanks

He is not asking about shops or kiosks. And I am not fighting you either.

Hmm, it could be lucrative if done right. To be sucessful, you have to be in location where you make fast sales. The profit margin is quite small and competitive so turnover is king, hence location. I know this because my mama is involved in the business. Personally I doubt she makes money out of the place, just on electricity she spend 30k daily to power freezers, fridges etc. Theft nko? One of her staff 10 years ago earning 25k back then had over 400k in one of her accounts! You also have to pay staff.
Some of my igbo brodas are sucessful in it partly because their staff cost is reduced as it is "omoboy" levels they do.
What about expired stuff? Items you will buy for lots of money will expire on the shelf. Those rodents will eat etc.
Personally, I think the new business model by pioneered by shoprite is the way to go. That model is when you provide a reasonable sized facility, producers of goods and importers then bring their goods to your supermarket. They place their staff to market, clean their product. What you do as the supermarket owner is maintain the facility, ie security, rent, Nepa etc. You provide the teller, cashiers etc. You keep your margin ie profit and remit the rest to suppliers.
This case, you have no issues with expired, damaged goods etc. I think it is called merchandising or so.
That is the sucessful plan chains like justrite, blenco, next stores, the current owners of shoprite, ebeano etc are all using. Most of the goods in their store are not theirs.
Anyway, best of luck.

GaybigBoy:
Is lucrative I must say I have two already one I. Ikeja and one in PH . Ias for Ibadan I can't tell. It depends,are u the owner of the warehouse or shop and land? Perhaps you may need at least 5 million for a start if u want it to look good more rich goes with 25M there about I started with 15m each.so location is another important thing and the Vendor where u buy it and the management because na them go send u back to village. Thanks

Impressive.

Basicend:


Why don't u save urself the huge costs of overhead, facility leasehold, utilities, excessive salaries etc. . By strategically buying many items and do e-commerce.

Get on major e-commerce platforms. . Build it own site and create traffic diversions Tru pop-ups and so on.

Get a good and secured warehouse with planned logistics. By time u engage 4 platforms and organically build ur system. . You Will quietly become rich. .

Sounds good on paper but I don't think it's that easy

Extremely lucrative

Y118:
na Ogun go kill u last..

You are starving but still had the energy to lay curses. You just gave yourself away.

PoloG:
Greetings y'all..

Please i would like to know how lucrative is a supermarket business ...

How much would it cost to setup a standard one

And what is the ROI monthly/yearly ...

Location is ibadan

Ibadan and supermarkets . Everywhere you go supermarkets

This gentleman is asking of also the cost to set it up and all most of you guys are interested in is very good business, location, this and that ush. Haba naw

PoloG:
Greetings y'all..

Please i would like to know how lucrative is a supermarket business ...

How much would it cost to setup a standard one

And what is the ROI monthly/yearly ...

Location is ibadan

If you are in lagos I would ve taking you to someone who is doing very well on that line of business . He has like 3 of big supermarket ...only those in that line of business can help your question ...one thing I know is that is a very stressful business that requires more hands...it most be sited on a strategy location where security is paramount .