Business Plan: Minimarket, Minisuper or Convenience Store

The MiniMarket, or convenience stores are businesses dedicated to the sale of products for immediate consumption regularly located in the vicinity of residential or executive areas.

Its main product lines are beverages, snacks, groceries, cigarettes, cleaning products, and some over-the-counter medications.

Its main characteristic is that the customer enters the business in self-service mode. These stores are usually excellent and very profitable businesses if they are planned, managed and strategically located.

Vision
Being in the area the best option for quick purchases at the best price, variety and with the best service.

Mission
Always provide fresh products, at the best price and in an orderly and pleasant place.

General Objective of the Project
Assembly and operation of a minimarket, minisuper or miscellaneous business according to the market analysis and feasibility of the investment.

Market study
A detailed evaluation of the offer must be made, obtaining for this, the information related to: how many similar businesses exist in the surroundings of the area, what prices they are offering, schedules, quality of customer service and assortment of the product they handle.

Once you have all the information, you can perform a SWOT that allows you to compare the strengths and weaknesses of your potential competitors in order to visualize areas of opportunity to enter the market.

Local Location
This is a determining aspect for the success of a minimarket business since it must be located in a place with high traffic of people without the cost of it preventing you from obtaining a profit and managing a controlled growth.

Some important characteristics that your premises should have are:

  • Close to residential, school and executive areas.
  • Parking and parking area for the convenience of your customers
  • Warehouse area with access by suppliers.
  • You must have separate restrooms for customers and employees.
  • The area of ​​the premises must be in accordance with its objectives: 200-300m2 for Mini Super, 100-200m2 for a convenience store and 50-100m2 for a store or miscellaneous.

Business Functions and Personnel

For optimal operation, the following responsibilities must be defined and delegated:

  • Hiring and supervision of staff
  • Sales, Marketing and Marketing Manager
  • Cleaning staff
  • Cashier
  • Helpers
  • General Accountant / Administrator

Equipment and Furniture

A minimarket requires different types of furniture, the main ones being the following:

  • Shelves and shelves
  • Display cases
  • Refrigeration and freezer equipment
  • Cash register or point of sale (POS)
  • Bathroom scales
  • Sausage slicers
  • Baskets
  • Supermarket trolleys
  • Fire extinguishers
  • Counter
  • Illuminated signs
  • Tables and chairs for food consumption on site (optional)
  • Microwave oven
  • Coffee maker
  • Cookware
  • Security camera circuit

Of course, the investment budget should be prepared considering this furniture according to the business size that you want to mount.

Some coffee and soda suppliers contemplate within their distribution mechanisms, the concession of coolers and cappuccino machines at no cost and that can be excellent alternatives with the only requirement that you meet a certain minimum sale.

Services
The concept of convenience stores has grown and now it is common to find other services that you can incorporate into your business in addition to the traditional sale of groceries, such as:

  • Public telephony
  • Internet
  • Fast food sale
  • Newspaper sale
  • Home delivery
  • ATM

Investment

Depending on the projected size of the business we are talking about a initial investment between US $ 5,000 and US $ 25,000, an amount that is directly related to the image of the business, the quality of the equipment to be acquired and the number of personnel to be hired.

Advertising Support
A very convenient suggestion is to support yourself with your suppliers with whom you can negotiate to provide you with advertising support, whether it be painting the premises, signage, freezers, awnings and promotion of the business through audio and promotional souvenirs.

How to Minimize Costs
Remember that a fundamental principle for the success of your business As important as selling is knowing how to buy. So, especially in retail businesses, it’s important to minimize product costs as much as possible in order to compete and get better profits. So I recommend you to quote and attend supply centers or shopping clubs where you can get the best prices as a wholesaler.

Key Factors for Business Success

  • Keep a place always clean
  • Speed ​​and excellence in customer service
  • Clean, tidy and labeled product on your shelves
  • A good inventory system to maintain assortment
  • Respect sanitary and hygiene standards
  • Long hours and weekend service

Business Image

Part of the success is also an excellent corporate image and for this you must dedicate some time to choose a good name for your business as well as a slogan and a logo that together convey the idea of ​​a pleasant place to buy and that includes the characteristics and benefits mentioned above.

Legalization and Records
Finally, it is extremely important to comply with all the requirements and standards for opening your business that regularly have to do with: commercial license, tax registration in the property, health license (if you sell food), municipal license, etc.

For all this, it is advisable to consult with the corresponding agencies in your city such as the Mercantile Registry, the SAT and public health where they will indicate the requirements and specific documentation that you have to present for the respective licenses.

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