SIRKAY98:
Very Lucrative .There is even one that is thriving now, sales of skin care products, i know a man that started this business and he is a millionaire now.

and to exact as you are planning to startup in yoruba land

for skin care just reduce it to bleaching cream ooo! no even waste your time with any other product it will not sale!!!

Shoprite nowadays is not the shoprite I do wish to buy from years back cos their goods are now expensive and not as cheap as it use to be when the owners were in Nigeria

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

You are probably a scammer or operating a mere shop

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

Do Ur feasibility studies well, else those big ones will come at crush u.

Even though you are going into a retail business, the business itself whether or not it’s profitable is dependent on so many many factors.

One thing about Nigeria is the only way to make insane money and easy money in Nigeria is to buy something, emphasis on any thing and sell it on for a profit.

This is how Alaba boys, dangote, computer village boys, ladipo boys, etc make and have made thier money till time immemorial.

Now going back to the question, supermarket is a good business but you haven’t mentioned where in Ibadan you have secured a premises to do your proposed business

I remmeber one popular supermarket opening at Felele junction challenge side that year and from the word get go even though it was right in front of a commercial back ( FCMB) and also right beside UBA bank, the supermarket didn’t last long and closed down why ?

Apparently it had to close cos the money it was spending on power including diesel was way too much than how much it was making

So your first issue one of the most underrated issue 1) how do you plan to deal with power supply

Also just to let you know there aren’t that many ways for a supermarket to run so well without a plan for electricity

Most supermarkets that I know and some cold rooms that ended up closing for business ended up closing because of this small ( but mighty ) problem of power generation

Apart from the location you are in and the expected footfall of the area you want to open your business in. Please if you don’t want to cry out of the business, make sure your feasibility study is complete on the type of light the area has ( nepa light ) and what’s your exact plan on running generators when there is no nepa


Your answer to the above paragraph would determine how profitable your supermarket business would be and vice versa

If it seems that even yourself you don’t know how you will power your supermarket 24-7 with light comfortably then please abort mission ASAP

One thing about business is you can’t run it with emotions or vibe, or it’s going to get better one day mentality. It won’t get better one day.

If you are extremely desperate to kinvest in something this year or something ( which sometimes is a real urge).

Go for a school businesses, it’s a slower type of business and it’s grows itself organically and school business is the only type of business in Nigeria that never closes down

Kind regards

Barrister Akinola Samuel Eluyefa
Business consultant and Solicitor ( Nigeria )

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

The igbos you love to hate are the one to give you a perfect answer and guide on this topic. Unfortunately, you fon shit for church

I was in the business for 10years before I left d country, the business can be lucrative but will depends on many factors but most importantly is location, building structure and having the right strategy I can't reveal to u now , it is a business strategy and it is not for free

Hmm

lebron7:

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

That is what God has helped me to do.

I am taking by grace Tru 100 experience.

Extremely profitable so long you can keep staff from stealing.

PoloG:
Please i need more comments

Basicend:


That is what God has helped me to do.

I am taking by grace Tru 100 experience.

Wow
That's reassuring
Thank God for you

How much did you start with though

remsonik:
Shoprite nowadays is not the shoprite I do wish to buy from years back cos their goods are now expensive and not as cheap as it use to be when the owners were in Nigeria

they finally discover that they can't be father Christmas forever

cheap good will kill them and send them out of business

they have far more overhead cost compare to your next neighbor store

Every business is lucrative to the untrained eye till you actually take the plunge and get knee deep in the day to day running of the business.
Is it lucrative? That answer is not dependent on location alone but the expertise of the owner of the business and how willing they are to learn.
Staff will make mistakes (I.e bill you for 3 items when you have 5 in your cart), they will invite their family and friends to shop only to generate half of what they pick as an invoice while security will just glance and tick the invoice.
Should we talk about products that expire,that is why I prefer cosmetics ,wine and alcohol ,cleaning and laundry . U are far safer with those categories,but some items stay so long on the shelf even in these categories that you can almost do thanksgiving the day you sell one.
The business as a concept in Nigeria is still in its infancy and trust me that in a few years there will be massive consolidation with the smaller brands dying out to make way for dominant regional players not exceeding 10 in number.

Ballmer:
Extremely profitable so long you can keep staff from stealing.

How do you keep staff from stealing? Mostly. It’s practically impossible.
A Supermarket is not the type business you as the owner can come and eye ball to figure out that something is missing.
Even the sale record, would only tell you what was sold but not what was stolen ( by staff and shoppers)
Have you tried counting the number of peak milk, three crown, cowbell, Dano, you have let on shelf and try to tally it with the books, it would take a whole day. You have not even dugout the Freezer and candy container to count.

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

Supermarket Business is very lucrative and has good profit margin

Presently I work as a remote inventory auditor with 2 big supermarket in Lagos and I do physical auditing once in a month.

The problem with this business is how to manage your inventory to cut cost, spoilage, theft and this is the job of inventory auditor/control officer.

Lastly and very important the location must be where sales will move. Most of your supplier will supply your LPO and you pay them later like 2 weeks and above it depend on your agreement with them. If the business/sales is moving fast banks are ready to loan you money for expansion to meet demand and most banks use your inventory as collateral.


Wish you luck

The business is overated,it depends on your location. If not ,go for wholesale of a particular area, toiletries or provisions etc

sonnie10:


How do you keep staff from stealing? Mostly. It’s practically impossible.
A Supermarket is not the type business you as the owner can come and eye ball to figure out that something is missing.
Even the sale record, would only tell you what was sold but not what was stolen ( by staff and shoppers)
Have you tried counting the number of peak milk, three crown, cowbell, Dano, you have let on shelf and try to tally it with the books, it would take a whole day. You have not even dugout the Freezer and candy container to count.

To stop/minimize stealing in supermarket is very possible cause that's what am doing presently as Inventory auditor and I give solution to every problem found in my report.

Nigerians will flock into same business till it casts, from cat fish to events center to logistics(bike) to uber. Now supermarket don dey everywhere. Cost of electricity alone for operation ehn. No profits

Tunedey0001:



Supermarket Business is very lucrative and has good profit margin

Presently I work as a remote inventory auditor with 2 big supermarket in Lagos and I do physical auditing once in a month.

The problem with this business is how to manage your inventory to cut cost, spoilage, theft and this is the job of inventory auditor/control officer.

Lastly and very important the location must be where sales will move. Most of your supplier will supply your LPO and you pay them later like 2 weeks and above it depend on your agreement with them. If the business/sales is moving fast banks are ready to loan you money for expansion to meet demand and most banks use your inventory as collateral.


Wish you luck

Sir, I am eager to learn. When you go for physical inventory audit, how do you count the number of trebor, Tom Tom, butter scots, bubble gum, cowbell sachets, milo sachet, pure water, hacks, all biscuits and all chocolate etc in a rotating stock?

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

it's more to it than meets the eye. Firstly you need to know the product range especially moving products ....

The supermarket business is only going to get bigger as the generation that likes the open air market concept age and die out.
Next we will have specialty stores e.g a soft furnishing and home accessories store instead of the guys at tejuosho pulling you to look through their curtains album or a self build building materials store instead of the chaos at muslin or orile.
The UK is so small and has thousands of the main supermarket brands. I never noticed any other supermarket apart from my local kwiksave till well into my teens only to find out kwiksave was very small in the scheme of things where big boys like Tesco and Sainsburys were.
In conclusion,it is the wild wild west now,but not for long. Order is coming to that industry and only the big boys will survive.

Tunedey0001:



To stop/minimize stealing in supermarket is very possible cause that's what am doing presently as Inventory auditor and I give solution to every problem found in my report.

In any viable supermarket, there are over 100k varieties of goods at a given time. If you have for example a pack of Bic ball pen, there are 50 pieces in it, how do know immediately when one or two is missing?

Bbgbs23:
Erosion deh Anambra. No forget.

I guess you were born around 2005 to 2010
Because you have a Childish Mentality

PoloG:


Location is ibadan

Thank God
I won’t mind getting employed

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

Start am first, divide you capital in two, in ten years you are still looking for it.

kushe:
Every business is lucrative to the untrained eye till you actually take the plunge and get knee deep in the day to day running of the business.
Is it lucrative? That answer is not dependent on location alone but the expertise of the owner of the business and how willing they are to learn.
Staff will make mistakes (I.e bill you for 3 items when you have 5 in your cart), they will invite their family and friends to shop only to generate half of what they pick as an invoice while security will just glance and tick the invoice.
Should we talk about products that expire,that is why I prefer cosmetics ,wine and alcohol ,cleaning and laundry . U are far safer with those categories,but some items stay so long on the shelf even in these categories that you can almost do thanksgiving the day you sell one.
The business as a concept in Nigeria is still in its infancy and trust me that in a few years there will be massive consolidation with the smaller brands dying out to make way for dominant regional players not exceeding 10 in number.

This is it. Do not always be distracted by the number of people that flock such places. Lots of stuff stay on the shelves for eons on end. In addition to all that have been listed, different tax/scam officers will be trying to bilk you, staff/your own relatives will be doing their own, what about the rats that deal with the juice, beverages, chopables- even tissue papers and what not? Have all the glass cabinets you want, they must be stakeholders in that shop.

Mum used to have one and you would look at it and love the lights and shine, but it wasn't like that. The good thing was that she resolved to just do it for the exercise it was making her do and we weren't paying rent. Location was excellent, as several businesses and churches were around and this helped us streamline what exactly was moving and it was just drinks, soft oo- pepsi, coke, not even the wines, at the end of the day for us. Overtime, the supermarket slowly turned to drinks shop and we were better for it.

So if I were to advise anybody to start a buy and sell biz now, I will advise that they do a coca-cola depot and be disciplined enough to not squander all the profits that will keep the biz afloat....Simple. Because the returns be like blood money. People will always drink coke.

Dialpad:
Lol
That business is saturated, you need proper management to be successful.

Unless you have a solid Unique selling point, it may just be like many of the others .... struggling.

Please do not be deceived by the number of people you see on the que, cost of running such a business is not EASY.

What of pharmacy?

adonainana:
Even though you are going into a retail business, the business itself whether or not it’s profitable is dependent on so many many factors.

One thing about Nigeria is the only way to make insane money and easy money in Nigeria is to buy something, emphasis on any thing and sell it on for a profit.

This is how Alaba boys, dangote, computer village boys, ladipo boys, etc make and have made thier money till time immemorial.

Now going back to the question, supermarket is a good business but you haven’t mentioned where in Ibadan you have secured a premises to do your proposed business

I remmeber one popular supermarket opening at Felele junction challenge side that year and from the word get go even though it was right in front of a commercial back ( FCMB) and also right beside UBA bank, the supermarket didn’t last long and closed down why ?

Apparently it had to close cos the money it was spending on power including diesel was way too much than how much it was making

So your first issue one of the most underrated issue 1) how do you plan to deal with power supply

Also just to let you know there aren’t that many ways for a supermarket to run so well without a plan for electricity

Most supermarkets that I know and some cold rooms that ended up closing for business ended up closing because of this small ( but mighty ) problem of power generation

Apart from the location you are in and the expected footfall of the area you want to open your business in. Please if you don’t want to cry out of the business, make sure your feasibility study is complete on the type of light the area has ( nepa light ) and what’s your exact plan on running generators when there is no nepa


Your answer to the above paragraph would determine how profitable your supermarket business would be and vice versa

If it seems that even yourself you don’t know how you will power your supermarket 24-7 with light comfortably then please abort mission ASAP

One thing about business is you can’t run it with emotions or vibe, or it’s going to get better one day mentality. It won’t get better one day.

If you are extremely desperate to kinvest in something this year or something ( which sometimes is a real urge).

Go for a school businesses, it’s a slower type of business and it’s grows itself organically and school business is the only type of business in Nigeria that never closes down

Kind regards

Barrister Akinola Samuel Eluyefa
Business consultant and Solicitor ( Nigeria )

Thank you sir for the expository mentorship

sonnie10:

In any viable supermarket, there are over 100k varieties of goods at a given time. If you have for example a pack of Bic ball pen, there are 50 pieces in it, how do know immediately when one or two is missing?

You can't know immediately but with how this is solve is that most prone items are always at the cashier counter

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

Its a lucrative business . you can venture into it

sonnie10:

Sir, I am eager to learn. When you go for physical inventory audit, how do you count the number of trebor, Tom Tom, butter scots, bubble gum, cowbell sachets, milo sachet, pure water, hacks, all biscuits and all chocolate etc in a rotating stock?

Each pack as number of PCs in a seal the open ones are kept with cashier like Tom Tom, bubble gum etc

And for the cowbell, Milo chocolate and biscuit all this will be empty on the shelf per cartons, the merchandiser that arrange it most report any damage immediately or if one of the roll is not complete due to factory error this can be return to vendor.


Now how I carry out inventory on this smaller items is cycle counting them by category using serial number.