How to Set-Up a Sari-Sari Store in the Philippines.
Our family is well known for handling a Sari-Sari Store in our Province. It was actually my training ground. It is where I learned most of my skills (Negotiation, Vendor Management, Inventory and Financial Management).
Every business has its own plan and strategy. You may be wondering do you really need to write a business plan and strategy? For me Yes, at first this will act as your guide. Just read the article below for you to know what would be your plan and own strategy.
Let’s decide how much would be your capital at the end of this article.
Must haves of a Sari-Sari Store.
Drinks and Beverages include Soft-drinks, Ready to Drink Juices and Sports or Energy Drinks.
Display Rack Items include Canned Goods, Condiments and Food Preparation Items plus Toiletries also Manually Packed Items (Rice, Sugar, Charcoals, Cooking Oil and Etc.).
Hanged Items such as Powder Juices, Retail Junk Foods, Powder Detergent Soaps and Fabric, Conditioners, Shampoo and Bar Soap Sachets, Instant Powder Drinks (Coffee, Chocolate, Milk, Cereal Etc.)Seasonings Sachets (Chicken Cubes, Seasoning Powder and Etc.).
Transparent Close Lid Items are Candies & Chocolates, Biscuits and Brownies, Cigarettes & Lighters, Noodles Pack and Cup Noodles.
A) Emergency and Optional Items B) Candles C) School Supplies D) No need prescription medicines
E) Mosquito Coils or Repellant Lotions F) Loading
One strategy in a small neighbourhood, most likely your customers would buy basic needs which you can choose from the items above.
You need to do when opening up your sari-sari store is the ASSETS that you’ll have in your store, for example, the display rack. Either you buy it or built and customize a new one.
The computer for POS is not an option but it could be a great help determining your inventory. You may also need a metal rod ideal for Hanged Items. Also, should reserve a small amount for minor construction or painting and some interior designing.
You are almost there putting up a business requiring a permit from the government. If your asset is below 300,000 to operate then you fall under the BMBE or barangay micro business enterprise. You need to inquire this at the barangay where your business will be located.
Let’s Name Your Business.
The business registered name could be the same as your brand name. You can have a different brand name for your business registered name.
For example, Marco’s Sari-Sari Store as your brand displayed outside the store however it is not available business name in DTI. The DTI will suggest using Marco’s Grocery Store.
Initial Computation (Example Breakdown)
Display Rack : 1,200.00
Metal Rod: 150.00
Paint with Labor 800.00
Drinks and Beverage: 500.00
Display Items: 2000.00
Hanged Items: 1500.00
Close Lid Items 1500.00
Loading Initial Bal. 1000.00
Having a successful sari-sari store starts with the word discipline. If you are just opening a sari-sari store to suffice your daily needs then most likely your sari-sari store will close in just a few months.
You as an owner needs to pay in order for you to know what exactly you earned for the day. In operating this kind of business you need to practice to put a 15% interest on top of the suggested retail price. This will help you or automatically identify how much is your earnings in a day or in a week.
In the end, always put your goal in mind and that goal is to earn money. Having said that I believe you already have a plan and strategy in mind.