If you want to open a mini mart business in Cambodia, this short article may help you. Starting a small business can be a daunting task, but it can also be frustrating. Before starting, I would like to advise you as your advisor. Before thinking about investing, you should look at the retail stores near you, and you will see that some stores are selling well, some are not selling well, and some are closing. So, you have to study them first and find out why there are successful shops and why there are failed shops? The following is a brief description of the steps involved in opening a mini mart business:
1. Choose a business type
Cambodia is a country with great potential for both local and foreign investors. That is why the Royal Government of Cambodia has divided the types of companies to be transparent between the parties involved in order to avoid any problems during business operations. Types of businesses in Cambodia include sole proprietorships, co-ownership companies, limited liability private companies, public limited liability companies and subsidiaries, affiliates or representatives of foreign companies.
2. Name of your mart
Naming a business is easy, but naming it correctly is difficult. Here are five steps you can consider in naming your business:
- Choose a name that is easy to read and easy to remember.
- Avoid using duplicate name in existing market
- Use any name that has a meaning.
- Think of at least 5 names and choose the best one
- Make sure you are satisfied with the name you decide to take.
3. Identify products to be sold
You need to choose which products to sell in the store to sell. You should choose high quality products to build the reputation of your store. Once you have identified the items to be purchased, you need to consider product management. Managing inventory is now easy, you can go to a supplier of computerized inventory management software and it not only helps you not to lose the goods but also helps you to know which goods are almost out of stock and avoid when customers come to buy.
4. Create an Online Sales Website (Optional)
These days, sales have evolved to be more online, so if your store has more retail websites, it would be great for customers. When you want to have a retail website, you need to think about payment methods and shipping methods. Please be informed that having a website will help you a lot because you do not have to buy stock and cut many other costs.
5. Consult with a lawyer
As our website has written many descriptions regarding the importance of the legal field. Opening a small retail store, although most do not need to pay a lot of taxes or registration, but if you have a goal to expand it, you need to be legally prepared, even if you have not done it, at least Be prepared in advance by consulting a lawyer.
6. Think about providing a great customer experience
Some home stores or shops do not provide good customer service. So for you, you have to really think about this, even if you start small. You just have to be more discriminating with the help you render toward other people. Customers usually have a habit of going to a store and they do not want to go to a store he has never been to, so if the store he visits has good service, he will go every time there is a need to shop.
7. Write a business plan
Many large companies spend years researching and planning business operations, and some are born immediately after the founders of those companies come up with great ideas and have the ability to support them. They. But whether you start a small or large business and plan to start sooner or later, you must have a clear plan for the strength of the business and yourself. Your retail plan should include:
- Competitor analysis
- Management (working hours, discipline, opening hours, closing hours ..)
- Financial management
8. Select location
Location is really important, especially for shopping. You need to choose a location that has a lot of potential, such as areas with target customers, large parking lots, crowded places and easy to find. When you decide on a location, you should choose at least two good locations and then compare which one to take.
Related: Franchising a business in Cambodia?
9. Build and increase relationship with product owners
Because it is a new store in your store, you can rent space for any product owner who wants to sell their products in your store. This way, you do not have to spend a lot of money to buy stocks, which in Cambodia is mostly called consignment.
Marketing is an important factor in determining your income. Marketing includes branding, advertising and sales strategy. So you need to write an effective marketing plan and implement it as effectively as possible.
11. Recruiting talented staff
When you have a great project, but you pick the wrong people to do it, it will be in vain. So you have to recruit carefully and know what you need to know to come to work and whether it is important or not to avoid hiring people who do not have a job to earn money.
12. Soft Opening
Before you officially launch, you should run a test, because you can use that time to train staff to be more professional, and during this trial run, even if your staff make a lot of mistakes, it does not affect customers because customers Understand that it is just a test run and when testing there are always errors.
13. Official launch
Do not officially launch if there is still work to be done or not ready. There is nothing more frustrating or frustrating for a customer than when the staff is not focused. So you have to make sure that everything is ready during the test run and when it officially opens you will get higher results continuously.
You need to take care of your employees, such as food, health and pay a decent salary for their efforts, because if they are happy to work, they will focus on satisfying your customers and their income. You are also growing. Another thing is to make your customers walk away from your store happily, so they will come to buy more often.