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Provision Store Executive Summary
Business Plan on Provision Store Executive Summary
Business Plan on Provision Store Executive Summary
- Briefly introduce the provision store, including its name, location (Somolu, Lagos), and the type of products it will offer (basic food and non-food grocery items, household consumables, and potentially cooked food takeaways, bakery items, fresh produce, etc.).
- A concise statement outlining the store's purpose and commitment to its customers (e.g., providing high-quality groceries at competitive prices with excellent customer service).
- Outline specific, measurable, achievable, relevant, and time-bound (SMART) goals. Examples include:
- Achieving a certain level of monthly/annual sales.
- Establishing a loyal customer base.
- Expanding to a second location within a specific timeframe.
- Achieving a certain level of monthly/annual sales.
- Identify the specific customer segment(s) the store will focus on (e.g., residents of Somolu, low-income families, health-conscious individuals).
- Detail the range of products to be offered, emphasizing variety and quality. Consider including fresh produce, household essentials, and potentially ready-to-eat meals.
- Explain what makes the provision store stand out from competitors. This could be lower prices, unique product offerings, exceptional customer service, or a convenient location.
- Provide a brief overview of key financial data, such as projected revenue, expenses, and profitability. Highlight the store's potential for growth and sustainability.
- If seeking investment, clearly state the amount of funding needed and how it will be used (e.g., inventory, store setup, marketing).
- Briefly introduce the key personnel and their relevant experience in the grocery or retail industry.
Business Plan on Provision Store Executive Summary in Nigeria
A provision/grocery store business in the country is very profitable especially as our population is ever increasing. Many families in Nigeria buy provisions almost always and because the demand for grocery products is always on the rise, if you venture into this business, you stand a real chance of making it big.
This sample provisions store business plan in Nigeria can be used for government and non – government business grant applications, for bank loan applications, for writing business proposals, for writing business concept notes, for business grant applications, other competitions, and so on. The provisions store business plan is a really viable business idea, which will require a lot of information and planning to start. You will need the mentorship and backing of a sound business consultant in Nigeria like Jude Okon for the effective implementation of the business plan
BUSINESS DESCRIPTION OF THE PROVISIONS STORE BUSINESS PLAN IN NIGERIA
Business: PROVISIONS STORE
Industry: COMMERCE
NCS Mart is the convenience store of the twenty first century future, fulfilling a need that will continue to exist into the future( the need for speed)
NCS Mart will be the first fully automated twenty – four hour convenience store that is more like an enormous dispensing machine than the traditional provisions store
The company expects to capture the market share by becoming the low cost leader in the provisions store industry by significantly reducing one of the primary expenses which is labour. Through our completely automated shopping experience, customers will have the chance to shop for everyday items at reduced prices, thus undercutting competition. The possibility for expansion are excellent not only in the local area, but in the neighbouring communities as well
The company is a joint venture start up between the principals, Mr. Shola and his associates, and Mr. Martin
The Benefits of our Products and Services are;
Availability of several varieties of goods and products meeting the needs of a wide range of class of people
A 24- hour, 7 days a week service provision
Automated services
Excellent customer care services
Fair and modified prices
OUR PRODUCTS AND SERVICES
NCS Mart will sell the same products as other provision stores in the same packaging sizes, quality and quantity as other stores. This includes; magazines, soft drinks, fruit juices, hot and cold snacks, sport drinks, and a wide variety of grocery items such as canned foods, condiments, bread etc, cleaning supplies, pet supplies, paper products, toothpaste and a host of others
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KEYS TO SUCCESS
In order to survive and expand, NCS Mart must keep the following issues in mind;
We must attain a high level of visibility through the media, billboards and other advertising channels
We must establish rigid procedures for cost control and incentives for maintaining tight control
We must expend a significant amount on R&D in order to be able to offer better and greater products and services
OBJECTIVES OF THE PROVISIONS STORE BUSINESS PLAN IN NIGERIA
The objectives of the provision store business plan in Nigeria are as follows:
Achieve profitability by September year one
Earn approximately $200,000 in sales in our year three
Start up second store by year four
Achieve a net profit in year one, increasing in year two , by containing costs and meeting sales targets
GOALS FOR THE PROVISION STORE BUSINESS PLAN IN NIGERIA
PROVISION STORE BUSINESS PLAN IN NIGERIA
The goals that have been set for the provision store business plan in Nigeria are as follows:
To establish our brand in the hearts of our customers
To open new stores all over the country
To be among the first five provision stores in the whole of Africa
VISION FOR THE PROVISION STORE BUSINESS PLAN IN NIGERIA
Our vision for the provision store business plan in Nigeria is; to be a leading brand name and the biggest provision store in Nigeria.
MISSION FOR THE PROVISION STORE BUSINESS PLAN IN NIGERIA
Our mission for the provision store business plan in Nigeria is; To create a new and revolutionary distribution outlet that will significantly reduce prices for its customers and provide greater services with an equal level of quality. The company seeks to be first to market with this daring new idea so as to capture market share and create greater than average profits.
MANAGEMENT TEAM OF THE PROVISION STORE BUSINESS PLAN IN NIGERIA
The management team of the provision store business plan in Nigeria is made up of the following people;
Shola John: He is a co – founder and owner of the business. Mr. Shola has over thirty years of experience in the commerce industry, and has served in several international bodies as an expert in the field. He is an alumnus of the University of Ibadan
Martin Femi: He is a founding partner of the company. He, like his partner also has some thirty years of experience in the commerce industry. He has managed a leading convenience store in London for over twelve years now, and is set to launch his own mega provision store
Jude Okon: ( B.AGRIC, MBA, and PMP). He has over fifteen years of experience in business management, financial management of business and overall business growth and development. He is an alumnus of Enterprise Development Centre(EDC), of the Lagos Business School (LBS), Pan African University (PAU). He is our business development strategist and also a strategic partner of the companyBest online courses
We brought to the business:
Educational skill and practical experience in the commerce industry
The capacity to consistently deliver outstanding services
Quality processed and packaged products with a sound knowledge and good understanding of the market trend
Our staff brings operational, educational, promotional, technical and marketing skills to the business
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MANAGEMENT EXPERIENCE GAINED FOR THE PROVISION STORE BUSINESS PLAN IN NIGERIA
With over thirty years of experience in the commerce industry and through numerous exposures to the business and practical aspects of services , I have been able to master the technical requirements, financial management, staff recruitments, and the necessary organizational skills among other factors required to give us a good commendation from our customers. My managerial skill has also helped me in putting together a workforce for over two years and to coordinate the teamwork in most aspects of the company
I am the CEO of the company and I am going to oversee the day to day activities of the company
MATERIALS AND EQUIPMENTS REQUIRED FOR THE PROVISION STORE BUSINESS PLAN IN NIGERIA
The following materials and equipments are required for the provision store business plan in Nigeria:
Shopping hall, POS, electric power generator set, counting machines, refrigerators, company van, among others
COMPETITOR ANALYSIS FOR THE PROVISION STORE BUSINESS PLAN IN NIGERIA
We have a high level of patronage due to the following reasons:
Quality assured standards
Attention to detail
A wide variety of goods and products
Excellent customer care services
Fair and lowest possible prices
Our three main competitive advantages are:
A wide variety of goods and products
Excellent customer care service
Fair and lowest possible prices
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