The product needs to be selected on the basis of the spending power that the locality and the audience holds. You, as an entrepreneur can make these optimistic factors as a motivation to start a supermarket business. All these are purely due to the expected comfort level of the consumers and the change in standards of living.
Operational plan —includes shelf management, procurement and inventory management, supplier management, housekeeping, maintenance, etc. The findings of the survey will be crucial for the project management team to understand customer needs and wants and develop appropriate project and marketing plans.
If the annual turnover of your grocery store is less than 20 lakhs, it may or may not register itself under GST. When you plan on starting a business you must be sure about what you are dealing with, what you will be facing and how to last in the market.
If you think you can manage finance for a huge sized super market, then you can confidently invest a crore rupee. There are supermarkets every 5 kilometers or even less on a street and every residential area or a township owns a supermarket.
Keeping this in mind, multiple modes of payment being implemented would be appreciated. The product then needs to be placed in an optimal position to ensure maximum revenue generation.
Banking and Payment 1.