Do you want to earn income but don’t have time to get employed? Owning a sari-sari store can be the option for you. There’s no need to leave your kids as you can start the business right in your home.
Consider some strategies and tips that can help you start and succeed in your venture.
While it is considerable to start your sari-sari store at your home, but it would be much better to consider other strategic locations such as near to schools, town plazas, busy streets and areas with good foot traffic.
- Business capital
Your starting capital or business fund is very important to consider. You can use your own money or borrow from local credit cooperative or lending institutions. Make sure not to borrow money that charges 20% interest. A startup capital of P10,000 can be sufficient to buy the basic commodities.
For your business to operate legally, make sure to secure all the permits and requirements mandated by the local ordinances. For easy processing of your business permit you’ll need cedula, barangay clearance, police clearance, TIN, SSS number, business name registration, Food Handler’s Seminar Certificate.
- Target customers
To attract more customers, make sure to provide convenience more than the products that you sell. Providing good customer service will make them come back or patronize your store.
- Merchandise
Sell merchandise that are top sellers on your location. If you’re on a residential area, most likely you’ll sell products needed for everyday use. Sell products viable to your location and ask your customers for items they want you to sell.
- Suppliers
To get the lower costs of items that you can sell, the best thing to do is to establish good relationship with suppliers. You can save a lot if you’ll buy merchandise directly from suppliers rather than buying them in supermarkets.
- Selling price
It’s not advisable to sell your merchandise at cheaper price. Instead, match your selling price with other stores in your area.
- Business accounting
Monitor your business transaction so that you’ll have idea about your expenses and revenue.
- Profits
It’s important to separate your personal money from your business’ income. As much as possible, you should save a fraction of the profits to sustain the growth of your business.
- Quality customer service
Providing quality customer service is one of the important factor for your sari-sari store to succeed.
