PROVISION STORES: PROS AND CONS

There is a lot more to operating a provision store, aside from the fact that they are found everywhere, are easy to start, and are highly profitable. This post aims to dive deeply into the pros and cons of operating a provision store business.

The Pros of Operating A Provision Store Business

You Have Full Control

As a provision store owner, you are your own boss, you have no superior except yourself. You have full control of the business, you set down rules and regulations, decide on modes of operations, choose the opening and closing hours, etc.

Meet Daily Needs

Provision Stores are priceless because they provide the daily necessities and products required by their customers. Since it's important to eat, bathe, look good, and be presentable at every time, the majority of what is needed to achieve this is provided by these provision stores /supermarkets.

They Are Easy To Start & Highly Profitable

Provision stores are very easy to start with a small amount of money. When you're starting small, stock goods that are needed by your customers only and those with long shelf life. You can make mini neighborhood research to know the major items to buy in your store, Also take proper note of all items customers come to request often.

Since it's highly lucrative, & profitable you grow very fast. Please note that to achieve unhindered growth, you have to be punctual, disciplined, sociable, and provide your customer with excellent experiences each time they visit your store Treat all your customers well, your rapport with them will determine whether they will come again. Use your discretion to give discounts when and where necessary.

The Cons of Operating A Provision Store Business

They Are Highly Competitive

The provision stores are highly competitive because they are easy to start, lucrative, and are found everywhere. You will need to implement several competitive strategies to pull ahead of your competitors by:

1) being able to explore new opportunities,

2) being flexible in your pricing

3) being loyal to your customers with better products and services

4) going for what your customers desire to pay for, etc.

Requires Other Source of Power Supply

You need a steady power supply in addition to a standby generator or a solar system, for a provision store to thrive well & for the store to be well-lighted all the time to showcase everything you have in the store and for customers' ease of movement around the store. More so, a steady power supply keeps all the drinks chilled and ready for sale.

Requires Your Time & Energy

The provision store business requires lots of your time, attention, and energy. You need time to take inventory, calculate and fix your prices and update prices whenever there is a change in the price of an item. You will need to run several errands & perform multiple tasks for your business e.g. take a constant check for expired products, and rearrange and dust off items/shelves.

Requires Dedicated and Hardworking Staff

As the business grows, there will be a need to get staff to help out in some of the daily physical activities of the business. The attributes of the staff you employ will either make or mar the business. Go for dedicated, hardworking, loyal, and social staff.

Theft & Pilfering

There's a need for you to fortify your store against unnoticed theft and pilfering by some touts that disguise themselves as customers. You can mount burglar proofs to prevent break-ins by robbers. If you're the only one managing, you'll not be able to go around with each of your customers every time they are picking items for purchase, as such you will need to install surveillance security cameras at some strategic places.

If you have any questions pertaining to this topic or the steps discussed, don't hesitate to drop them in the comment box below. We will be glad to help you.

For your business promo, check out our list of DG Business Ideas for Newbies services and campaign options.

For further information contact us through this Email: dgcollections75@gmail.com