How to Start a Retail Supermarket

Everyone needs food in order to survive. And while many people have had to turn to restaurants and fast food in order to get food on the run, the retail supermarket industry is still thriving. People like to eat and they need to eat. However, getting into the retail supermarket business can be difficult, so here are some basic tips to get you started.

First of all, learn about the customers that you want to provide foods to. Are they looking for low prices or are they looking for a certain type of food – i.e. organic or local produce? Determining the kinds of customers you will cater to can help to limit the capital that you have to spend up front as well as the costs for buying products that you might not need. If you already have a location or area in mind, you might want to send out simple surveys to see what people are looking for and where they might like to see it. Include a discount coupon or some other freebie in order to get surveys returned to you – people like to be compensated for their time and their opinion.

Once you’ve determined the kind of supermarket that your customers want, you can begin to look at possible locations. People don’t like to drive too far for their food, so keeping stories in central locations is best, though you also don’t want to be somewhere that might cause traffic to become troublesome for locals as well. Look in the area to see where other popular retailers are. You might find that you can set up shop adjacent to them and help both locations out. If you have larger grocery chains in the vicinity, it can help to find a location that is at a distance so that locals can make their own choice, but that said, you will have to create some sort of incentive for them to choose you.

What’s the incentive for your customers? If you’re providing a particular product to your customers, that can be all the incentive that they need – in the beginning. Organic foods, for example, are a quite lucrative right now as people are more concerned about their health and eating right. However, these foods can be expensive to purchase, so you will want to research cheaper suppliers and farmers.

It can help to research and observe successful supermarkets in your area to see how they are creating profits for themselves. Look to see what kind of variety they offer, if they rotate their products or maintain the same items throughout the year. You may want to do everything completely differently as well, but it never hurts to see what’s working for someone else. You could also talk to other customers to see what else they’d like to see at popular stores in order to bring in their business to your own establishment.

Starting a retail supermarket requires capital to buy the space, products, and the employees to get everything running. But if you’ve secured your market and your products, you’re nearly ready to start cashing in on your ideas.

Copyright 2006 Jorge Olson

About The Author
Jorge Olson is a Business Consultant Entrepreneur. Visit his website for information on how to buy at the best Wholesale Prices for your Retail or Wholesale Business, or even how to go into business. Find free information at http://www.WholesaleTeacher.com.

Tips for Launching Your Own Business

This November marks my two-year anniversary of starting my own human resources consulting business. As I look back on the years, I am amazed at what I accomplished and learned. If you are thinking about starting a business, read on!

I always dreamed about having my own business, talked to friends about it, and imagined how it might be. But it was only after two people in my life gave me a push, that I started doing instead of dreaming. First, my former boss said to me, when we were both thinking about moving on, "I never looked for a job, I always went out and created my own." Given her advice, I hired a business coach to help me map out my next career steps. My coach saw my entrepreneurial spirit and encouraged me to start a business. So I moved from dreaming to doing.

The first few months of my business I spent setting up a legal structure, registering the business name, implementing an easy accounting system, setting up a business checking account, establishing a line of credit and obtaining business insurance. Each item was time consuming but not difficult. The more difficult work was writing my business plan and marketing plan. I talked to professional colleagues and volunteers at the Small Business Administration and SCORE, and read books on marketing. The process was slow because I was learning along the way, but I now use both business and marketing plans as daily road maps to guide my actions. One of the easier and fun parts of the first few months – for me, was working with a designer to create a logo, business cards, stationery, brochure and Web site.

I also started networking - an activity that never ceases. There are many organizations to join. The trick is figuring out which ones to choose. I finally decided on being involved with a half a dozen organizations, which can either bring me business or help me learn more about building my business or both.

One of the activities I worked on for months was my "elevator pitch," which is answering the question, "What do you do?" so the listener understands and is interested. Now when people ask, I say, "I have a human resources consulting firm. We help organizations choose and grow talented people. And we help individuals choose and grow great careers."

I also spent a lot of time creating processes to make my business run like a well-oiled machine. I have processes for making sales calls, following up, writing proposals and evaluating the results of the work I do.

In addition, two wonderful students contacted me this year, both of whom wanted to work with me as interns to learn my business and to help them with their careers. Having two interns adds supervisory and coaching time, but their ideas and enthusiasm has paid off. In fact, my business tag line, Know-how. Right now, came out of a meeting in which the three of us reviewed my marketing plan.

At a networking meeting, a colleague suggested that I consider joining the Women’s Business Development Center. After looking into it, I had my business certified as a women’s business enterprise. In addition to meeting other women business owners, I gained access to a member directory of businesses that are interested in doing business with women business owners.

For me, the biggest risk of starting my own business was financial. I went from a steady paycheck to a roller coaster ride of payments. Before starting my business, I sat down with my family and asked for their support to ride out the slow months. My husband and youngest child were supportive; my teenager who loves new clothes and CDs, etc, needed convincing. But since my teenager is just a few years away from college and making her own career decisions, I see my move as a way to show her how to live your dreams.

The rewards are significant. I am passionate about what I do. For all every business decision, I get to decide. My newfound freedom has unleashed my creative talents. And there is new meaning in what I do. My advice after my first year: If you are passionate about a business idea, knuckle down and go for it!

About The Author

Judith Lindenberger MBA has a distinguished career in human resources consulting and is recognized for her innovation and excellence. The Lindenberger Group, LLC provides results-oriented human resources consulting, organization development, customized training workshops and personal career training to help individuals and organizations improve their productivity and performance. The Lindenberger Group is a two-time recipient of The Athena Award for Excellence in Mentoring. Contact them at 609.730.1049 or info@lindenbergergroup.com or www.lindenbergergroup.com