If you’re thinking of opening a supermarket and you’re wondering how to open a supermarket franchise in India, this article will give you some important information.
Such a venture requires a significant initial investment because it involves many intricate details. Therefore, if these things are not addressed at the outset, they cause a lot of issues in the succeeding steps, and at that point, there is no turning back. Therefore, it is wise to think about these options before making a wise decision on how to handle these minor issues that, if left unattended, could develop into larger issues in the future.
To be on the safer side, you can also contact industry experts to assist you with the initial design and setup, such as supermarket franchise consultants like 7heven.
In this article, we will discuss 10 provisional aspects that need to be acknowledged in the procedure of starting a new grocery store franchise in India:
1. Business Plan
In a business model, we attempt to predict how a company will bring in money and turn a profit. Due to product similarity, it can be challenging to develop a USP for a grocery or supermarket firm. Existing supermarkets and grocers are able to carve out a place for themselves because of their services and intangible assets.
Big brands invest more in construction, infrastructure, and technology to improve the customer experience and offer value. Successful companies in this market are able to attract and keep clients, increasing the potential for revenue creation and profits through these indirect niche-building and value-adding initiatives.
2. Location of the supermarket
Determine the location of your supermarket as the next crucial factor in your retail business plan. This is a crucial choice since, once made, you won’t be able to move your store if locational circumstances force footfall to be lower than anticipated. Therefore, this is a strategic choice that will have long-term effects.
The majority of experts that help with supermarket franchises in India, advise that stores should preferably be situated so that residents can easily access them.
3. Finalization of Store Layout
An integral part of a grocery store franchise is the store layout. The layout of the store has a significant impact on the profit per square foot, a crucial indicator of profitability in the retail sector. These days, there are a lot of designers for grocery stores who can assist companies with the shop layout so they may make the best use of the available space to increase profits by stocking a wider variety of goods across all categories. Since you cannot alter your store’s layout every week, this is likewise a one-time choice.
4. Branding matters the most
Branding is more than just a great tagline, a cool website, or a bright logo. In a nutshell, it is an experience. The overall goal of this branding procedure is to give your customers an experience that makes them want to return and, over time, develop into devoted customers.
Everything in your supermarket must represent this special experience, and shoppers must sense it. Your supermarket franchise in India will be put to the test with this.
5. Efficient Manpower
According to a proverb or school of thought, skilled and contented workers produce happy consumers, who in turn generate greater sales and satisfied shareholders.
Your staff is crucial to the success of your grocery store franchise plan since they are the ones who represent your firm to the clients and upon whom nearly everything depends. Keeping a skilled, happy, and motivated team is therefore essential for your brand and business.
6. Purchasing and Merchandising
The product categories you want to keep in your supermarket franchise in India should be considered when arranging your merchandise. Demand and supply are two important aspects that will determine this. Offering products and product brands that are constantly in demand is a good idea.
Here, it’s important to evaluate customer demand. The merchandise plans and priorities must be well-known to the procurement department. If not, they will need to be informed each time, which could slow down the purchasing process and cost you sales.
7. SOPs
Employees in all departments will only be able to perform their tasks when they are completely aware of their roles and responsibilities. How then, can we all have such clarity? SOPs are the response. For each operation or activity, SOP serves as an operational road map.
An SOP outlines the methodical process to carry out a specific task or operation. Plans and documentation for SOPs are required. Subjectivity and uncertainty are removed. Additionally, it facilitates monitoring, supervision, and improvisation.
Every department, including finance, human resources, store operations, merchandising, purchasing, inventories, etc., should have SOPs.
8. Software for managing grocery stores
Managing a supermarket franchise in India is very different from running a small shop. It involves a number of operations and business procedures that must run simultaneously to move the wheels of the entire company.
A proper business software program can reduce complicated company procedures to a matter of a few clicks and a few inputs by being tailored to meet particular business objectives and the resulting operational requirements.
These software programs gather the information that users from around the organization feed into the system, centrally store it, and enable other process owners to access the pertinent information for additional departmental decision-making.
9. Marketing Strategy
Marketing starts with a concept. The goal of this concept is to produce something useful, something that could meet a need or address a problem. The rest follows naturally from this concept. “What value are we serving?” is the marketing query for a supermarket franchise in India.
People don’t just go to the grocery store to buy things; they want a full, satisfying experience, from the first advertisement to pulling out of the parking spot after finishing their shopping. But it’s important to think about why customers choose one supermarket over another.
10. Launch preparation
The reverse countdown for takeoff has started at this point. It involves much more than just cutting a ribbon and inviting loved ones to attend. A new supermarket franchise in India wishes to witness their clients’ joy and pleasure as they try something new for the first time on this particular day.
A little bit of planning and marketing is required for the launch program. Here, it’s important to generate real community buzz for the promotion.
Conclusion
A grocery store franchise opening can be challenging. However, some careful planning and a knowledgeable supermarket franchise consultancy like 7 heven can help you sort out the process.
Work ethic is priceless. We should begin even early in building a strong team since it is essential. We only made an effort to address ten crucial factors. Because your plans need to support your business idea, read them and rephrase them.