sample rice retailing business plan

Rice Retail Store Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business Plans » Wholesale & Retail

Are you about starting a rice retail store? If YES, here is a complete sample rice retail store business plan template & feasibility report you can use for FREE .

Okay, so we have considered all the requirements for starting a rice retail store. We also took it further by analyzing and drafting a sample rice retail store marketing plan template backed up by actionable guerrilla marketing ideas for rice retail stores. So let’s proceed to the business planning section.

Why Start a Rice Retail Store?

There are businesses that someone with little schooling and no serious business background and training can start. One of such businesses is to open a rice retailing store. The major things you need to have in place to make success from this type of business is a good location, easy access to wholesale supply of quality rice and good customer service and accountability skills.

The truth is that if your rice shop is located in an area with good human and vehicular traffic, and you have quality and well – packaged rice in different sizes from different brands, you may not have to struggle to get people to visit your shop and make purchase.

So, if you have decided to open a rice retail store in your neighborhood, then you should ensure that you carry out feasibility studies and also market survey. This will enable you properly locate the business and then hit the ground running.

Below is a sample rice retail store business plan template that can help you to successfully write your own with little or no hassle.

A Sample Rice Retail Store Business Plan Template

1. industry overview.

As the name of the business implies, rice retailing stores basically retail processed and bagged rice. Rice retail stores primarily purchase rice from wholesalers and retail them directly to end consumers – customers.

The Rice Retail Stores industry, just like most businesses in the retailing industry, depends on strong consumer spending to spur the demand for industry products. Over the last half a decade, the economy has begun recovering from recessionary declines with both the Consumer Confidence Index and disposable income increasing.

Going forward, as the economy of the united states continues to recover and consumers are expected to loosen their discretionary budgets, the industry is anticipated to experience growth.

The Rice Retail Stores industry is indeed a major sector of the economy of the United States of America and they generate several billion dollars annually from loads of rice retail stores scattered all around the United States of America.

The industry is responsible for the employment of well thousands of people. It is important to state that there is no rice retail store in the United States of America that has a lion share of the available market. New entrant into the industry can favorably compete for the available market.

It is a fact that an estimated two-thirds of the United States’ gross domestic product (GDP) comes from the general retail industry of which the rice retail stores industry also contributes.  This is why the United States of America’s economy is measured with the yardstick of how well the retailing business is fairing in the U.S.

In essence, when there is an unstable economy, purchasing power drops and it impacts the retailing / rice retailing stores industry negatively which may result in the closure of some rice retail stores.

Over and above, the rice retail store industry is a profitable industry and it is open for any aspiring entrepreneur to come in and establish his or her business; you can choose to start on a small scale in a street corner or you can choose to start on a large scale with several outlets in key cities through the United States of America and Canada.

2. Executive Summary

Mercy Lurton Rice Store®, LLC is a standard and registered rice retail store business that will be located in one of the busiest streets in Charleston – West Virginia.

We have been able to lease a facility that is big enough to fit into the design of the kind of standard rice retail store that we intend launching and the facility is located in a corner piece property directly opposite the largest residential estate in Charleston – West Virginia.

Mercy Lurton Rice Store®, LLC will retail short-grain rice, medium-grain rice and long-grain rice (both in organic and non – organic form) et al from different brands from the United States and abroad. We are set to services a wide range of clientele in and around Charleston – West Virginia.

We are aware that there are several large and small chains of rice retail store outlets all around Charleston – West Virginia, which is why we spent time and resources to conduct a thorough feasibility studies and market survey so as to be well positioned to favorably compete with all our competitors.

We have an online – service option for our customers, and our outlet is well secured with various payments of options. Mercy Lurton Rice Store®, LLC will ensure that all our customers are given first class treatment whenever they visit our rice retail store.

We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large the numbers of our customers’ base may grow to. We will ensure that we get our customers involved in the selection of brands that will be on available in our store and also when making some business decisions.

Mercy Lurton Rice Store®, LLC will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.

We will ensure that we hold ourselves accountable to the highest standards by meeting our customers’ needs precisely and completely whenever they patronize our products. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our customers.

Mercy Lurton Rice Store®, LLC is a family business that is owned by Mercy Lurton and her immediate family members. Mercy Lurton has a B.Sc. in Business Administration, with well over 5 years of experience in the retailing stores industry, working for some of the leading brand in the United States.

Although the business is launching out with just one outlet in Charleston – West Virginia, but there is a plan to open other outlets all around major cities in the United States and Canada.

3. Our Products and Services

Mercy Lurton Rice Store®, LLC is in the rice retail stores industry to service a wide range of clients and of course to make profits, which is why we will ensure we go all the way to make available a wide range of well packaged rice from top rice production brands in the United States and other countries of the world.

We will ensure that we do all that is permitted by the law of the United States to achieve our aim and ambition of starting the business. Our product offerings are listed below;

• Retailing short-grain rice, medium-grain rice and long-grain rice (both in organic and non – organic form) from different rice production brands

4. Our Mission and Vision Statement

• Our vision is to become one of the leading brands in the rice retail stores industry in West Virginia and to establish a one stop rice retail store in Charleston – West Virginia and in other key cities in the United States of America and Canada.
• Our mission is to establish a world – class rice retail store business that will make available a wide range of well – bagged rice from top rice production brands at affordable prices to the residence of Charleston – West Virginia and other key cities in the United States of America and Canada where we intend opening of chains of rice retail stores and franchise.

Our Business Structure

Mercy Lurton Rice Store®, LLC do not intend to start a rice retail store business like the usual mom and pop business around the street corner; our intention of starting a rice retail store business is to build a standard and one stop rice retail store outlet in Charleston – West Virginia.

We will ensure that we hire people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stakeholders (the owners, workforce, and customers).

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of ten years or more. In view of that, we have decided to hire qualified and competent hands to occupy the following positions;

• Chief Executive Officer (Owner)
• Store Manager
• Human Resources and Admin Manager

Merchandize Manager

Sales and Marketing Manager

Information Technologist

• Accountants / Cashiers
• Sales Agents / Customer Services Executive

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

• Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
• Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for fixing prices and signing business deals
• Responsible for providing direction for the business
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization
• Reports to the board

Admin and HR Manager

• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
• Enhances department and organization reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments.
• Defines job positions for recruitment and managing interviewing process
• Carries out staff induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Oversees the smooth running of the daily office activities.

Store Manager:

• Responsible for managing the daily activities in the store
• Ensures that proper records of bags of rice are kept and warehouse does not run out of products
• Ensures that the store facility is in tip top shape and goods are properly arranged and easy to locate
• Interfaces with third – party suppliers (vendors)
• Controls rice distribution and supply inventory
• Supervises the workforce in the rice sales floor.
• Manages vendor relations, market visits, and the ongoing education and development of the organizations’ buying teams
• Helps to ensure consistent quality of well processed rice from different manufacturers are purchased and retailed in good price that will ensure we make good profit
• Responsible for planning sales, monitoring inventory, selecting the merchandise, and writing and pricing orders to vendors
• Ensures that the organization operates within stipulated budget.
• Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
• Models demographic information and analyze the volumes of transactional data generated by customer purchases
• Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
• Develops, executes and evaluates new plans for expanding increase sales
• Documents all customer contact and information
• Represent the company in strategic meetings
• Helps to increase sales and growth for the company
• Manages the organization website
• Handles ecommerce aspect of the business
• Responsible for installing and maintenance of computer software and hardware for the organization
• Manages logistics and supply chain software, Web servers, e-commerce software and POS (point of sale) systems
• Manages the organization’s CCTV
• Handles any other technological and IT related duties.

Accountant / Cashier:

• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensuring compliance with taxation legislation
• Handles all financial transactions for the organization
• Serves as internal auditor for the organization

Client Service Executive

• Ensures that all contacts with customers (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
• Through interaction with customers on the phone, uses every opportunity to build client’s interest in the company’s products and services
• Manages administrative duties assigned by the human resources and admin manager in an effective and timely manner
• Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to customers when they make enquiries (answer customer queries regarding the store and the merchandise)
• Finds out the customer’s needs, recommend, select and help locate the right merchandise, describe a product’s features and benefits.
• makes suggestions and encourage purchase of products
• Provides information about merchandise and delivery options
• Bags or packages purchases made
• Responsible for cleaning all the store facility at all times
• Ensures that toiletries and supplies don’t run out of stock
• Cleans both the interior and exterior of the store facility
• Handles any other duty as assigned by the store manager.

6. SWOT Analysis

Our intention to start just one outlet of our rice retail store in Charleston – West Virginia is to test run the business for a period of 2 to 5 years to know if we will invest more money, expand the business and then open other rice retail outlets all over major towns in West Virginia and key cities in the United States and Canada.

We are quite aware that there are several rice retail stores all over Charleston and even in the same location where we intend locating ours, which is why we are following the due process of establishing a business.

We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be welled equipped to confront our threats.

Mercy Lurton Rice Store®, LLC employed the services of an expert HR and Business Analyst with bias in retailing to help us conduct a thorough SWOT analysis and to help us create a Business model that will help us achieve our business goals and objectives. This is the summary of the SWOT analysis that was conducted for Mercy Lurton Rice Store®, LLC;

Our location, the business model we will be operating on (physical store and online store), varieties of payment options, wide range of well processed and well – bagged rice from different rice production companies from within the United States and other parts of the world and our excellent customer service culture will definitely count as a strong strength for Mercy Lurton Rice Store®, LLC.

So also our management team members are people who have what it takes to grow a business from startup to profitability with a record time.

A major weakness that may count against us is the fact that we are a new rice retail outlet and we don’t have the financial capacity to engage in the kind of publicity that we intend giving the business.

• Opportunities:

The fact that we are going to be operating our rice retail store in one of the busiest streets in Charleston – West Virginia provides us with unlimited opportunities to sell our rice to a large number of individuals and businesses (hotels and restaurants).

We have been able to conduct thorough feasibility studies and market survey and we know what our potential customers will be looking for when they visit our rice store outlets; we are well positioned to take on the opportunities that will come our way.

Just like any other business, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing / spending power. Another threat that may likely confront us is the arrival of a new rice retail outlet in same location where ours is located. So also, unfavorable government policies may also pose a threat for businesses such as ours.

7. MARKET ANALYSIS

• Market Trends

If you are conversant with the Rice Retail Stores Industry, you will quite agree that the changes in disposable income, consumer sentiment, and ever changing eating habits are major growth drivers for sales in this industry.

No doubt, a massive rise in consumer confidence has also contributed in helping the industry experience remarkable growth, but uneven performance in these drivers has led to slightly constrained revenue growth for the Rice Retail Stores industry.

So also, the rising demand for organic rice, as a result of increasing disposable income and consumer sentiment, will result in revenue growth.

Rice retail store business has been in existence for as long as human started trading goods, but one thing is certain, the rice retail store industry is still evolving. The introduction of technology and subsequently homed delivery options, online grocery cum rice retail store has indeed helped in reshaping the industry.

It is now a common phenomenon for rice retail stores and grocery outlets to leverage on technology to effectively predict consumer demand patterns and to strategically position their store to meet their needs; in essence, the use of technology helps retailers to maximize supply chain efficiencies. No doubt data collected from customers goes a long way to help rice retail stores and grocery stores serve them better.

8. Our Target Market

Possibly it will be safe to submit that the rice retail stores industry has the widest range of customers; almost everybody on planet earth consume rice; rice is indeed one of the most popular staple food in the world.

In view of that, we have positioned our rice retail store to service the residence of Charleston – West Virginia and every other location where franchise cum outlets of our rice retail stores will be located all over key cities in the United States of America and Canada.

We have conducted our market research and feasibility studies and we have ideas of what our target market would be expecting from us. We are in business to retail well processed and bagged rice from different rice production brands to the following groups of people and corporate organizations;

• Restaurants

Our competitive advantage

A close study of the rice retail stores industry reveals that the market has become much more intensely competitive over the last decade. As a matter of fact, you have to be highly creative, customer centric and proactive if you must survive in this industry.

We are aware of the stiffer competition and we are well prepared to compete favorably with other leading rice retail stores in Charleston – West Virginia and throughout the United States and Canada. Mercy Lurton Rice Store®, LLC is launching a standard one stop rice retail store that will indeed become the preferred choice of residence of Charleston – West Virginia and every other location where our outlets will be opened.

Our rice retail store is located in a corner piece property on a busy road directly opposite one of the largest residential estates in Charleston – West Virginia. We have enough parking spaces that can accommodate well over 10 cars per time.

One thing is certain; we will ensure that we have a wide range of well – processed and well bagged rice from leading rice production companies available in our store at all times. It will be difficult for customers to visit our rice store and not see the type of rice they are looking for.

One of our business goals is to make Mercy Lurton Rice Store®, LLC a one stop rice shop for both household and businesses (hotels and restaurants et al) our excellent customer service culture, online store, various payment options and highly secured facility will serve as a competitive advantage for us.

Lastly, our employees will be well taken care of, and their welfare package will be amongst the best within our category (startups rice retail stores) in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.

We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Mercy Lurton Rice Store®, LLC is in business to retail a wide range of well – processed and well – bagged rice from different rice production brands to the residence of Charleston – West Virginia. We are in the rice retail stores industry to

10. Sales Forecast

One thing is certain when it comes to rice retail stores, if your store is well stocked with well processed and well bagged rice from different rice production brands and centrally positioned, you will always attract customers cum sales and that will sure translate to increase in revenue generation for the business.

We are well positioned to take on the available market in Charleston – West Virginia and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base.

We have been able to critically examine the rice retail stores industry and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to startups in Charleston – West Virginia.

Below is the sales projection for Mercy Lurton Rice Store®, LLC it is based on the location of our business and other factors as it relates to rice retail stores start – ups in the United States;

• First Fiscal Year-: $120,000
• Second Fiscal Year-: $450,000
• Third Fiscal Year-: $750,000

N.B : This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor retailing same shoe brands and customer care services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

Before choosing a location for Mercy Lurton Rice Store®, LLC, we conduct a thorough market survey and feasibility studies in order for us to be able to be able to penetrate the available market and become the preferred choice for residence of Charleston – West Virginia.

We have detailed information and data that we were able to utilize to structure our business to attract the numbers of customers we want to attract per time.

We hired experts who have good understanding of the rice retail stores industry to help us develop strategies that will help us achieve our business goal of winning a larger percentage of the available market in Charleston – West Virginia.

In other to continue to be in business and grow, we must continue to sell the well processed and well packaged rice that are available in our store which is why we will go all out to empower or sales and marketing team to deliver. In summary, Mercy Lurton Rice Store®, LLC will adopt the following sales and marketing approach to win customers over;

• Open our rice store in a grand style with a party for all
• Introduce our rice store by sending introductory letters alongside our brochure to hotels, restaurants, households and key stake holders in Charleston – West Virginia
• Ensure that we have a wide range of rice from different brands at all times.
• Make use of attractive hand bills to create awareness and also to give direction to our rice store
• Position our signage / flexi banners at strategic places around Charleston – West Virginia
• Position our greeters to welcome and direct potential customers
• Create a loyalty plan that will enable us reward our regular customers
• Engage on road shows within our neighborhood to create awareness for our rice store.
• List our business and products on yellow pages’ ads (local directories)
• Leverage on the internet to promote our business
• Engage in direct marketing and sales
• Encourage the use of Word of mouth marketing (referrals)

11. Publicity and Advertising Strategy

Despite the fact that our rice store is well located, we will still go ahead to intensify publicity for the business. We are going to explore all available means to promote our rice store.

Mercy Lurton Rice Store®, LLC has a long term plan of opening outlets in various locations all around West Virginia and key cities in the United States and Canada which is why we will deliberately build our brand to be well accepted in Charleston before venturing out.

As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand. Here are the platforms we intend leveraging on to promote and advertise Mercy Lurton Rice Store®, LLC;

• Place adverts on community based newspapers, radio stations and TV stations.
• Encourage the use of word of mouth publicity from our loyal customers
• Leverage on the internet and social media platforms like; YouTube, Instagram, Facebook, Twitter, LinkedIn, Snapchat, Badoo, Google+ and other platforms to promote our business.
• Ensure that our we position our banners and billboards in strategic positions all around Charleston – West Virginia
• Distribute our fliers and handbills in target areas in and around our neighborhood
• Contact corporate hotels, restaurants, households, landlord associations and schools by calling them up and informing them of Mercy Lurton Rice Store®, LLC and the products we sell
• Advertise our rice store business in our official website and employ strategies that will help us pull traffic to the site
• Brand all our official cars and trucks and ensure that all our staff members and management staff wears our branded shirt or cap at regular intervals.

12. Our Pricing Strategy

Aside from quality, pricing is one of the key factors that give leverage to rice stores, it is normal for consumers to go to places (rice retail outlets) where they can get well – processed and well – bagged rice at cheaper price.

We know we don’t have the capacity to compete with other bigger and well – established rice retail store, but we will ensure that the prices of all the brands of rice that are available in our rice store are competitive with what is obtainable amongst rice retail stores within our level and in our location.

• Payment Options

The payment policy adopted by Mercy Lurton Rice Store®, LLC is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Mercy Lurton Rice Store®, LLC will make available to her clients;

• Payment via bank transfer
• Payment with cash
• Payment via credit cards / Point of Sale Machines (POS Machines)
• Payment via online bank transfer
• Payment via check
• Payment via mobile money transfer
• Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for farm produces purchase without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for our rice.

13. Startup Expenditure (Budget)

In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting / leasing a big facility, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.

This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked.

As for the detailed cost analysis for starting a rice retail store business; it might differ in other countries due to the value of their money. These are the key areas where we will spend our start – up capital;

• The Total Fee for Registering the Business in the Unites States of America – $750.
• Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $3,300.
• Marketing promotion expenses for the grand opening of Mercy Lufton Rice Store®, LLC in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
• The cost for hiring Business Consultant – $2,500.
• The cost for insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $2,400.
• The cost for the payment of rent for 12 months at $1.76 per square feet in the total amount of $105,600.
• The cost for store remodeling (construction of racks and shelves) – $20,000.
• Other start-up expenses including stationery ( $500 ) and phone and utility deposits ( $2,500 ).
• Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $60,000
• The cost for Start-up inventory (stocking with a wide range of well – processed and well – bagged rice from different rice production brands) – $50,000
• The cost for counter area equipment – $9,500
• The cost for store equipment (cash register, security, ventilation, signage) – $13,750
• The cost of purchase and installation of CCTVs: $10,000
• The cost for the purchase of office furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al): $4,000.
• The cost of launching a Website: $600
• The cost for our opening party: $7,000
• Miscellaneous: $10,000

We would need an estimate of $250,000 to successfully set up our rice retail store in Charleston – West Virginia. Please note that this amount includes the salaries of all the staff for the first month of operation.

Generating Funds / Startup Capital for Mercy Lurton Rice Store®, LLC

Mercy Lurton Rice Store®, LLC is a private registered business that is solely owned and financed by Mercy Lurton and her immediate family members. They do not intend to welcome any external business partner which is why he has decided to restrict the sourcing of the start – up capital to 3 major sources.

These are the areas we intend generating our start – up capital;

• Generate part of the start – up capital from personal savings
• Source for soft loans from family members and friends
• Apply for loan from my Bank

N.B: We have been able to generate about $50,000 ( Personal savings $40,000 and soft loan from family members $10,000 ) and we are at the final stages of obtaining a loan facility of $200,000 from our bank. All the papers and document have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

14. Sustainability and Expansion Strategy

The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Mercy Lurton Rice Store®, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to retail our wide range of well – processed and well – packaged rice from different rice production brands a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.

Mercy Lurton Rice Store®, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of six years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List / Milestone

• Business Name Availability Check: Completed
• Business Registration: Completed
• Opening of Corporate Bank Accounts: Completed
• Securing Point of Sales (POS) Machines: Completed
• Opening Mobile Money Accounts: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Leasing of facility and remodeling the store: In Progress
• Conducting Feasibility Studies: Completed
• Generating capital from family members: Completed
• Applications for Loan from the bank: In Progress
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents and other relevant Legal Documents: In Progress
• Design of The Company’s Logo: Completed
• Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
• Recruitment of employees: In Progress
• Purchase of the Needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business both online and around the community: In Progress
• Health and Safety and Fire Safety Arrangement (License): Secured
• Opening party / launching party planning: In Progress
• Compilation of our list of rice brand that will be available in our store: Completed
• Establishing business relationship with wholesale rice suppliers: In Progress

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Rice Retailing Business Plan | Ultimate Guide In 2023

Rice consumption has shown a clear increase over the years. In the last years of 2021/2022, 520 million metric tons of rice was consumed globally. Rice being the celebrity of the food and beverage industry, is one of the most famous ventures since the ancient times and is all time in demand. As rice is a staple food, the rice retailer business provides a certain security to the investor or entrepreneur. In this article we will discuss what makes the rice retailer business a good idea and what are the few nitty-gritties that are needed, including marketing strategy for rice business, and developing an informed rice retailing business plan. Along with this we will understand what are the few pointers from a sample project proposal for rice retailing that you could incorporate in your rice business plan.

The agriculture sector is a vital part of the economy and is highly emphasized by the government. It is not only in a constant demand but also in high supply which works in the benefit of an entrepreneur in the rice retailer business. Being in this venture also has additional benefits as it is relatively easy to start and requires minimal investment. Thus, generating a good net profit for the retailer.

Also Read: How To Start A Land Clearing Business? 11 Steps {Ultimate Guide}

Table of Contents

Things to keep in mind before starting the business:

• Investment and resources : You should have enough collection of capital and resources that you need for your rice business.
• Acquire License : You would have to generate a government approved license that legitimizes your business and allows you to run your business smoothly.
• Gather Equipment : According to the rules of your license you would need proper equipment of a certain standard. Price tags, calibrated weights etc.
• Storage unit : One look out in the rice industries is the issue of storage, the rice tends to spoil in three months. Along with this the rice gets eaten by insects and bugs. You would need a well-structured storage unit and invest in disinfectants. Here you can take advice from other sample project proposal for rice retailing and also from your supplier.
• Determine your target market : You need to identify who your potential customers are. Are they households, restaurants, or small convenience stores? Knowing your target market will help you come up with a business plan and marketing strategy.
• Look for a reliable supplier : You would need to find a supplier who can provide you with good quality rice at a reasonable price. It’s important to build a good relationship with your supplier to ensure a steady supply of rice.
• Choose a strategic location : The rice retailing business should be located in an area where there is high foot traffic. A location near a market or a busy street is ideal.
• Set your prices : You should set your prices competitively. Do some research on the prices of rice in your area and make sure that your prices are reasonable.
• Promote your business : You need to get the word out about your rice retailing business. You can use flyers, social media, or even word of mouth to promote your business.

Before starting any venture, planning the above points is of key importance.

Also Read: How To Start A Custom Car Shop? {Ultimate Guide}

Here are few Steps that are needed to Develop a Concrete Rice Business Plan –

1. conduct market research and form marketing strategy for rice business –.

Conducting a Market research involves gauging of the rice market in your area. You are to understand the demand of different types of rice, the number of suppliers, the demographic of potential customers and a thorough knowledge about the competition. This is where the competition’s sample project proposal for rice retailing would come in handy and help you create a marketing strategy.

2. Create Business Objectives

Your rice business plan would need a clear set of objectives. Concise, achievable and smart objective and goals work as a guideline onto which further operations are done.

3. Target Market

The rice retailing business plan depends on identifying your target customers, including their demographics, their preferred location, monetary status and purchase habits. And finally incorporating them in marketing strategy for rice business.

4. Unique Selling Proposition (USP)

Create a strategy that sets you apart from your competitors and attracts customers. After developing a unique selling proposition showcase it in your rice business plan. In order to develop a well rounded USP you can use the competitor’s sample project proposal for rice retailing and stand apart from the crowd.

5. Pricing Strategy

One of the pointers of how you can price your rice products that leads to the most net profit is by using an already well researched pricing strategy. For example, D-Mart became a famous retail store in India by using Everyday Low Price Strategy – EDLP which worked for the Indian market and gained high profit.

6. Marketing Plan

Create a detailed advertising statement that markets and promotes your rice business to attract customers and promote customer loyalty. And make this a part of your marketing strategy for rice business.

7. Operation Plan

The rice business plan includes a step-by-step outline of daily activities that you would like to see in your business. Such as information on staff, daily changes in prices, inventory, maintenance of storage facility etc.

8. Financial Projects

Create balanced and realistic financial projects in your rice retailing business plan to assess your company’s workings. create accurate financial predictions that include predicted sales, expenses, and profits.

9. Organizing

And finally compile it all together to form a comprehensive rice business plan.

In conclusion, rice is in all time demand throughout the centuries. With right equipment, capital, license resources, and a full proof rice retailing business plan you can establish a successful venture.

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Starting a Profitable Rice Retailing Business: Your Ultimate Guide 

Disclosure: Small Business Philippines strives to provide relevant and accurate information in all its articles. However, some information in our articles may differ or might be outdated from what you can see or read directly from the establishments’ or businesses’ websites. Please get in touch with us directly for any discrepancies.

Starting your rice retailing business at the right time is crucial for success. Factors such as market demand, competition, and the availability of capital should be taken into account. This section will guide you in identifying the optimal time to launch your business.

Market Research

Business plan and financing, supplier and inventory management, store setup and equipment, pricing and promotion, customer service and engagement, examples and tips for a successful rice retailing business, key takeaways.

Choosing the right location for your rice retailing business is essential. Factors like proximity to target customers, accessibility, competition, and infrastructure should be considered. This section will provide insights on selecting the best location to maximize your business’s potential.

Step-by-Step Guide to Launching Your Rice Retailing Business

Conduct thorough market research to identify your target customers, understand their preferences, and analyze the competition. This step will help you develop effective strategies to attract and retain customers.

Create a comprehensive business plan that outlines your objectives, marketing strategies, operational processes, and financial projections. Determine the capital required and explore various financing options available to fund your rice retailing business.

Legal Requirements and Permits

Familiarize yourself with the legal requirements and permits necessary to operate a rice retailing business in the Philippines. This step will ensure compliance with regulations and avoid potential penalties.

Establish relationships with reliable rice suppliers and negotiate favorable terms. Develop an inventory management system to ensure adequate stock levels, minimize wastage, and maintain product freshness.

Design an appealing and functional store layout that enhances the shopping experience for your customers. Acquire the necessary equipment, such as weighing scales, storage containers, and display shelves, to facilitate smooth operations.

Determine competitive and profitable pricing strategies while considering factors such as market trends , production costs, and customer expectations. Implement effective marketing and promotional activities to generate awareness and drive sales.

Deliver exceptional customer service to build loyalty and attract repeat business. Implement customer engagement strategies like loyalty programs, feedback mechanisms, and personalized experiences to enhance customer satisfaction.

Example 1: The Story of Juan’s Rice Mart Explore the inspiring journey of Juan’s Rice Mart, a successful rice retailing business that started small but grew exponentially through strategic planning , exceptional customer service, and innovative marketing techniques.

Example 2: Leveraging Technology for Business Growth Discover how rice retailers are leveraging technology solutions such as online platforms, mobile apps, and social media marketing to expand their reach, attract new customers, and streamline operations.

Tips for Success:

• Build strong relationships with your customers and suppliers.
• Monitor market trends and adjust your offerings accordingly.
• Focus on product quality and consistently deliver fresh rice.
• Embrace digital marketing strategies to reach a wider audience.
• Continuously improve your operational processes for efficiency.
• Starting a rice retailing business in the Philippines can be a profitable venture due to the high demand for rice.
• Conduct thorough market research, develop a solid business plan, and secure the necessary permits and licenses.
• Choose a strategic location, establish reliable supplier relationships, and provide excellent customer service.
• Leverage technology and stay updated on industry trends to stay competitive.

Ready to start your rice retailing business in 2023? Follow the step-by-step guide , implement the proven tips, and unlock the potential of this lucrative industry. Begin your journey to success today!

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Sample Business Plan for Rice Retailing PDF Free Download Presented by BizMove

Watch This Video Before Starting Your Rice Retail Business Plan PDF!

Checklist for Starting a Rice Retail Business: Essential Ingredients for Success

If you are thinking about going into business, it is imperative that you watch this video first! it will take you by the hand and walk you through each and every phase of starting a business. It features all the essential aspects you must consider BEFORE you start a Rice Retail business. This will allow you to predict problems before they happen and keep you from losing your shirt on dog business ideas. Ignore it at your own peril!

For more insightful videos visit our Small Business and Management Skills YouTube Chanel .

Here’s Your Free Sample Business Plan for Rice Retailing PDF

Free book for you: how to start a business from scratch (pdf).

Copy the following link to your browser and save the file to your PC:

https://www.bizmove.com/free-pdf-download/how-to-start-a-business.pdf

To repair your credit, start making your payments on time. Work on reducing credit card debt and try to keep the balances below thirty percent of the total in the future. Paying your cards on time prevents additional late payment fees and builds a positive history. The longer you can maintain a positive payment history, the higher your score will get.

The better your credit score is the better rates you are going to get from your insurance company. Pay your bills on time each month and your credit score will raise. Reduce the amount of money that you owe on your credit accounts and it will go up even more and your premiums will go down.

If you are looking to sign up for a credit repair service, make sure that you are not too hasty and you look up information on the company you are dealing with. Also keep in mind that most credit repair companies that are legitimate will only ask you to pay after they solve your issues.

Pay for a credit monitoring service. These services will take a fee from you to report to you monthly on the activity on your credit, ways that you can improve your score, and also will alert you to any potential errors or omissions. If you are trying to rebuild your credit, these services can be very helpful.

Start by paying off smaller debts that are showing on your credit report. Start with debts you can pay in one installment or that are lower than other debts. This way you can rid yourself of some bills and eliminate some of the accounts that show on your credit report.

To improve the way you look to creditors, open a savings account. When creditors can see that you have a savings account, they're more likely to trust you to be able to repay your debts. Having a savings account also shows creditors that you're committed to saving money, not just to spending it.

If you're considering using a credit repair company, think again. The Federal Trade Commission recommends avoiding these companies, as many of them make promises on which they won't deliver -- and it costs money to use them, too. Repairing your credit on your own will take time, but it's also less expensive and more likely to be successful. Repairing your credit on your own will also help you understand and use your own finances wisely.

Lower the limits on your credit cards. By doing this, you will be less inclined to use them as often as you normally would. You will also be able to get them paid off in a timely manner by doing this because you won't be spending as much on them.

To repair bad credit, make sure you pay at least the minimum balance on your credit cards each month. It is always best to pay your balance in full, but sometimes this is not possible. Paying the minimum balance shows companies that you are at least trying to repay what was loaned to you.

A great way to repair your credit fast is to use the existing laws to your advantage. There is a law that says anyone who requests information regarding proof of the items that are on your credit report, the credit bureaus have 30 days to respond. If they do not respond within 30 days with proof of that item being a valid debt, then it will get removed from your report.

When deciding to repair your credit, get a copy of your credit report from all three major credit bureaus, TransUnion, Experian and EquiFax. These reports will show you where you stand with each debtor you have worked with. Once you know what is wrong, you can start working to fix it.

Your interest rate will be lower if you have a good credit score. This will help you afford your payments, and get out of debt quickly. Obtaining the best possible interest rate saves you money, and helps you maintain your credit score.

Try credit counseling instead of bankruptcy. Sometimes it is unavoidable, but in many instances, having someone to help you sort out your debt and make a viable plan for repayment can make all the difference you need. They can help you to avoid something as serious as a foreclosure or a bankruptcy.

Make sure you receive a physical contract from all credit collection agencies. The agreement should spell out exactly how much you owe, the payment arrangements, and if they are charging any additional fees. Be very wary if the company is hesitant to provide you a contract. There are unscrupulous firms out there who will take your money without actually closing your account.

If you notice a mistake in your credit report, you can make the corrections yourself. You will need to contact the major credit-reporting agencies and ask for assistance. This is pretty straight forward and there is no fee to do this. There are also publications that offer credit history self-help, as well.

If you use an online credit repair service, be sure to take the time to read all of the fine print that is in the agreement. Do not just skim any agreement just to get through the process or you may find that you have a pile of fees added up when you finalize the process.

Even though it is impossible to legally erase negative information from a credit report that is both accurate and up-to-date, the law does permit you to ask for an investigation of your credit file if you dispute some data as being either incomplete or inaccurate. Even though some people choose to hire a company to aid with this process, it is a free service if you are doing it yourself.

Not many crooks roam the roads of the nation's cities. Many spend their Time in the production plants of organizations. There, disguised as fair citizens, they shoplift and pilfer whatever comes to hand, frequently tampering with records to cover their thefts. To stop pilferage, an owner-manager must recognize that some employees Cannot be reliable and make all employees aware he or she's taking measures to outlast dishonest personnel. Such steps include setting up a system of loss prevention (apparatus and procedures), administering the system , and auditing it frequently to discourage dishonest employees who try to bypass the system. To steal or not to steal? That's the question facing workers in plants. Many workers answer that question almost unconsciously. They view items lying around and pick them up for their own use. They slip small hand tools in their pockets. Or they dip into the bin for A fistful of bolts and nuts or snip off a couple of feet of wire for a home repair job. However, not all employees who pilfer are nickel-and-dime burglars. Some are Professionals who carry off tens of thousands of dollars worth of equipment and materials. One reason behind pilferage is lost trust. Many owner-managers of small Companies feel near their workers. Some regard their employees as partners. All these owner-managers trust their people with keys, a secure combination, cash, and records. Thus, these employees have the tools which a thief or embezzler Needs to get a successful crime. Regrettably, some of the"trusted" employees in many small businesses Are bigger spouses than their supervisors expect. Unless you are taking active steps to prevent loss from in-plant pilferage, some are probably attempting to steal your business, little by little, right from under your nose. Few indeed are the companies where unethical workers are not busily at work. Usually, these workers are protected by management's indifference or ineptitude since they steal a bit, steal a whole lot, but nevertheless, steal the profit, and the business itself. Among the initial steps in preventing shoplifting and pilferage is for the Owner-manager to inspect the trust he or she places in workers. Is it blind trust that grew from close friendships? Or is it trust that is built on an accountability that reduces chances for thefts? Along with misplacing trust, it is easy for an owner-manager to create An environment where dishonesty takes root and thrives. Simply relax your bookkeeping and inventory control processes. Nothing deters would-be thieves such as the understanding that inventory is so tightly controlled that stolen merchandise will be missed quickly. And what about the plant where its common practice for a near relative or Just two of their boss to assist themselves from the stockroom without signing up for the things they take? Shortly such a plant becomes a place where inventory shrinkage soars as employees get the message that record keeping is loose and controls are lax. In a production plant, Zero materials and no finished products should be Taken without a requisition or a elimination record being made. Exceptions? Absolutely none. Likewise the owner-manager who does not exercise tight control over Invoices, purchase orders, removals (for instance, for resources, materials, and finished goods), and credits is asking for embezzlement, fraud, and unbridled theft. Crooked office workers and production and maintenance personnel dream about sloppily preserved records and un-watched inventory. Why make their fantasies come true? One shipping platform employee's dream came true for the tune of $30,000 - The total amount of goods he stole from his company. When captured, he stated,"It was so simple, I truly didn't think anyone cared." Let folks know you care. Be aware of the stress that you place on loss-prevention. This stage has to be driven home again and again. With every restatement Of It - whether by a security test, a change of locks, the testing of alarms, a systems audit, or a note on the bulletin board - you can be sure that you're affecting that moment of decision when an employee is confronted with all the choice-to slip or not to steal. Also high on the list of invitations to theft is random physical Safety. Owner-managers that are casual about issuing keys, locking doors, and changing locks are, in effect, inviting the dishonest employee to the plant or office after work. But smart key control and installation of timelocks and alarms are ways of serving notice to crooked workers to play it directly. Sometimes profits go from the window - literally. By Way of Example, one Distributor caught"trusted" workers lowering TV sets and tape recorders from a third-story warehouse window to confederates below. Unfortunately they were not caught until they had milked their manager of tens of thousands of dollars worth of merchandise. But more frequently, the industrial burglar employs a door rather than a window. And The doors a plant has, the more paths of thieving it offers. The plant that is designed for maximum security will have a minimum number Of active doors along with a supervisor or shield, if justified, stationed near each doorway. Moreover, a supervisor should be present when materials or finished goods have been received or sent and when trash is being eliminated. So long as a door remains open, a responsible employee, a supervisor, or a protector should be there. Central station alarm systems should be utilized to shield a plant later hours. Their purpose is to record door openings and closings and also to investigate unexpected openings. Timelocks will also be designed to record all openings. A record of door openings could be important because the unethical employee Is often a specialist at"busting out" (concealing and leaving the plant after closing hours). If your plant is not shielded against break-out, you can be hurt badly since this method of operation makes it possible for a thief to operate pretty much at their own speed. After-hours thieves put out of commission that the alert system that works Attractively against break-in. They can often leave by doors equipped with snap-type locks-doors that do not need keys in the insides. Quickly and easily, they can pass products outside and then snap doors shut behind them. Thus, they leave no evidence. A movement sensor, electric eye, or central station alarm will deter such thieves. You can also dissuade break-outs with locks that require keys on both Sides, provided that fire regulations do not prohibit such locks. When goods, Materials, or cash are missing and signs of forced entry is lacking, start To search immediately for the interior thief, the dishonest employee.

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Bigasan Business 2023: How To Start, Capital, Profit (Plus, Tips To Succeed)

Rice has been a staple of the Filipino diet since time immemorial . Therefore, opening a bigasan business or a rice retail business in the Philippines can be a profitable venture for you if the conditions are right.

As with any other food business, there are two ways to make this happen. Either start your own rice retailing business or franchise an already-established brand .

Each has pros and cons, so you should weigh your options carefully before venturing into this type of business.

Let this short article be your guide.

Table of Contents

What is a bigasan or rice retail business.

A bigasan is a retail store that sells a variety of rice. In the Philippines, this is typically done through a simple storefront where bags of rice are opened as a display for customers. The name of the variety of rice and the corresponding price are shown on each bag.

Customers need only tell the store’s staff what variety and how much rice they buy. The staff will then put the requested amount in a bag and weigh it before the customer. After the customer pays for it, then the transaction is complete.

There are specialized rice businesses that sell only rice, but there are also retail outlets, such as sari-sari stores , that carry rice as part of their selection of products.

Bigasan Business at a Glance

How much capital you need to start a bigasan business depends on your business model. Capital investment may start from ₱50,000 (retailer) to ₱300,000 (franchise).

2. Customers

Residences, restaurants, hotels, and other establishments that sell rice meals.

3. Competitors

Usually, just other rice businesses. The supermarkets have a different client base since rice from supermarkets is usually at least 50% more expensive.

4. Who Is It For?

People who prefer to run a simple retail store with an already established market.

5. Pros & Cons

• Steady demand since Filipinos eat rice every day
• It requires minimal marketing because consumers are already familiar with the product
• Straightforward business with the potential to make a living out of it
• Rice is vulnerable to pest attacks, especially if stored improperly
• The quality of rice deteriorates after three months; it spoils easily
• Challenging to be different from competitors aside from the price

How Does a Bigasan or Rice Business Make Money?

Rice businesses typically buy their rice bags from a wholesaler. They then add a markup or “patong” to the cost of the rice. After that, they decide the price per kilogram to sell the rice to their customers. Whatever they earn from selling the rice becomes the income from the rice business.

Note that having a sizable margin is challenging unless you buy in bulk. That’s why it’s typical for a rice business to have a high capital requirement.

Where Can I Find a Rice Supplier?

If you are not getting a franchise, you must find a rice supplier yourself. This could be a wholesaler, a rice mill, or a farmer. You are more likely to know the best places to get rice if you search your area. However, here’s a quick list of well-known rice suppliers in the Philippines:

• DanJethro Grains by A&V Rice Mill – an independent rice mill in Mapandan, Pangasinan, operating since 1993.
• Wil-Lys Cereal Trading Corporation – located in Solana, Cagayan. They sell many varieties, including export-quality rice.
• JDL Nueva Ecija Rice Dealer – also known as Jorem Palay Buying Station, this supplier has been selling farm-fresh rice from Lupao, Nueva Ecija, for 30+ years.
• Primavera Rice Mills – selling quality rice for 46+ years now; among the top rice suppliers for restaurants and fast-food chains in Metro Manila. They are located in Guiguinto, Bulacan .
• RMR Rice Mill – is a popular wholesaler among rice retailers. They are located at Wakas Intercity, an agricultural bagsakan , in Bocaue, Bulacan.

If there is no viable rice supplier in your area, you may want to look for a franchise instead. Here’s a quick list of rice retail franchises you can contact:

• GRAINSMART – has more than 800 franchise branches nationwide. Aside from rice, they also have gas and water refilling business franchise packages. Their head office is located in Quezon City, Metro Manila.

Update: Bigasanko.com has been removed from the list due to an inactive social media page.

How To Start a Bigasan Business in the Philippines: 9 Steps

1. research your market and competitors.

You can’t expect to start a bigasan or rice retail business and succeed right away. You first need to know about your area’s potential customers and competitors.

Find out the typical kinds of rice people in your area buy. How much do they pay for it? If you do start a rice business, then can you also sell it at the same or a cheaper price?

Next, you need to learn any information you can about your competitors. How many are there, and where are they located? If there are too many rice retailers, you may want to rethink starting one yourself.

2. Choose a Location Frequented by Your Target Market

Find a location where it’s convenient for your customers to buy from you. Examples would be groceries or wet markets ( “palengkes” ) where people are already conditioned to buy rice.

You also have to ensure enough space to store and display the sacks of rice in your chosen location. It’s also ideal that you can keep the rice there safely so the product will be protected from heat, pests, and even floods.

3. Choose the Right Rice Supplier

With your research in hand, you now have to find a supplier for the rice typically bought in your area.

You have the option to:

• Find a wholesaler or rice mill that can deliver to your area
• Become a rice business franchisee

List all available suppliers and cultivate a long-term relationship with them. This way, you can avail of discounts when buying in bulk and provide your customers with a wide variety of rice.

Your goal is to get a price to remain competitive in your area. If you can find an excellent supplier, starting a rice retail business will be much cheaper than becoming a franchisee.

However, becoming a rice business franchisee has benefits that justify the additional cost. They already have an established way of getting a rice supply, so getting started’s much easier. You can also learn how to run a successful bigasan from them.

4. Secure a License From the National Food Authority (NFA)

Once confident that you can successfully run a rice retail business in your chosen area, you must start with government compliance .

The law states that the National Food Authority (NFA) must approve every corn or rice business in the Philippines, whether commercial or NFA rice/corn.

If you plan to open numerous outlets, you need one license for your primary/principal store. All other outlets will be considered as branches.

To get the license, go to the NFA office that has jurisdiction over where you plan to establish the rice business in the Philippines.

Get the application form from the licensing officer (LO).

Submit the accomplished form and pay the application fee of ₱100. The license fee varies depending on your capital.

5. Ensure That You Have the Required Equipment and Facility To Start the Rice Business

An NFA personnel will personally visit your store to check for the following:

• Calibrated weighing scale
• Price tags (the price of the rice per kilogram)
• White-painted rice boxes
• Signboard (45 cm wide and 75 in long) showing your business name, NFA control number, and the words “Licensed Grains Retailer” or “Wholesaler”
• Classification, variety, and grade of the rice grains you’re going to sell

Once approved, the NFA inspector will issue you a notice of inspection. Bring this with the official receipt and proof of compliance with deficiencies (if any) to the NFA office to get the license.

For franchisees of Grainsmart , you don’t need to file for a license because it’s already included in their packages. The downside is that you need to shell out higher capital to start the franchise business –a minimum of ₱298,000 for Grainsmart.

6. Register Your Business

Register the bigasan business with the Department of Trade and Industry (DTI) if you’ll operate it as a sole proprietorship or the  Securities and Exchange Commissions (SEC) for rice businesses run by a partnership or corporation.

You must also register with the BIR and get a business permit from your municipal or city hall. After that, your business registration is complete. Just note that you must file monthly, quarterly, and annual taxes . You also have to pay fees to your LGU quarterly or annually.

7. Set Up Your Bigasan & Store Your Rice Properly

Taking care of your rice starts from the supplier and ends only when your customers buy it. When transporting rice, separate it from other goods and make sure they’re all appropriately covered. 

Otherwise, prolonged sun exposure will cause the rice to lose moisture and shrink by up to 3%. The insufficient covering may also expose it to flying weevils ( bukbok ), especially if the transport vehicle passes by rice fields.

Once it arrives at your store, handle it with care. Don’t throw the rice bags, or the grains might break.

Keep the storage space clean and sanitized to prevent infestation of rats, molds, weevils ( bukbok ), and other pests.

Use the “first-in, first-out” inventory method to ensure that every sack of rice sold is high-quality and doesn’t exceed its shelf life. Remember, rice quality decreases significantly after three months. Any rice that spoils will dramatically impact the profitability of your rice business.

8. Promote Your Bigasan

You should know what’s essential for your customers when choosing a bigasan. Communicate that you can deliver that critical benefit.

You can be as creative as possible when promoting your bigasan locally and online. Talk to your neighbors—partner with other businesses. Join chat groups for the local community. 

There are many ways to promote a bigasan business. As long as your target customers are there, you should also promote there.

9. Be Strict With Your Inventory & Records

A common reason why a rice retail business might fail is because of poor inventory and record management. A few kilograms of lost or damaged rice can wipe out more than a day’s worth of your income.

So make sure to be very strict in taking care of your inventory. You should also record everything that goes in and out of your store. 

If you don’t know how to do your records correctly, you can use the template for the sari-sari store inventory and sales record provided here . It’s the same concept, but you only have to list down your rice’s different varieties, brands, and weights.

Tips & Warnings

• Set aside a regular budget for the rice supply. Some dealers won’t deliver rice to retailers unless they order a minimum amount of rice from them.
• Try to avoid selling any rice on credit, especially for residential clients. It might be unavoidable for business clients; however, deal only with reputable businesses. Bad debts can severely impact your operations.

Go back to the main article: Best Small Business Ideas in the Philippines with High Profit 

Written by Rod Michael Perez

in Business and Finance , Juander How

Last Updated June 4, 2023 09:21 PM

Rod Michael Perez

Rod Michael Perez is a freelance writer with over 7 years of experience in writing long-form articles, ad copy, and SEO content for local and foreign clients. He is also an aspiring startup founder and believes that the Philippines could be the next hub for startup culture. He takes care of his dog, a poodle-Shih Tzu hybrid, in his spare time.

Browse all articles written by Rod Michael Perez

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How To Write a Marketing Plan for Rice Business (FREE Template)

• 18 August 2023
• Learn Business

Are you looking to start a rice business but haven’t crafted a marketing plan yet?

Well then, you are in the right place, my friend.

In today’s competitive business landscape, a well-crafted marketing plan for rice business serves as the compass guiding your business toward success. The rice industry, while deeply rooted in tradition, is not immune to the demands of modern marketing strategies.

In this comprehensive guide, I will embark on a journey through the intricacies of developing a winning marketing plan for rice business.

Why Do You Need a Marketing Plan For Your Business?

Key players and competitors in the rice industry, analyzing needs and pain points, identifying market gaps, growth potential, packaging and labeling considerations, discounts, promotions, and value-added offers, partnerships with distributors and retailers, influencer collaborations and user-generated content, implementation timeline, regular review and adjustments, what is a marketing plan in food industry.

You might have first asked the question: What is a marketing plan?

A food marketing plan comprises a series of methods and steps designed to efficiently promote and sell food items to the consumer market. This strategy offers guidance to food business proprietors on effectively positioning their products within the competitive food industry. Given the intense competition in the food sector, developing a robust food marketing plan becomes vital for sustained success.

What is The Marketing Strategy of Rice?

Your rice business is more than just a store; it’s a gateway to nourishment and culture. As you venture into the rice retail sector, the importance of a strategic marketing plan cannot be overstated. This guide is your roadmap to cultivating a robust marketing strategy that not only enhances your rice business’s visibility but also propels it to new heights in terms of sales, customer engagement, and brand loyalty. This is important to understand when making a marketing plan for rice business.

A marketing plan is essential for businesses as it provides a roadmap to achieve goals efficiently. It aligns efforts, targets the right audience, and differentiates from competitors. By managing budgets, adapting strategies, and measuring results, businesses optimize resources and drive growth.

Ultimately, a well-structured marketing plan guides focused actions, maximizes profitability and builds lasting customer relationships.

Market Research and Analysis

Understanding the rice industry.

Before diving into your marketing strategy, it’s essential to grasp the current trends and dynamics of the rice industry. Let’s take a closer look:

Global and Local Rice Market Trends

The worldwide consumption of rice has seen a steady incline, reaching a staggering 485 million metric tons in 2022. This phenomenon is fueled by population growth, dietary shifts, and increasing cultural diversity. However, the rice market is not monolithic; preferences vary across geographical boundaries.

Different Types of Rice and Their Demand Patterns

Different types of rice like long-grain, medium-grain, and aromatic have unique flavors and uses. Understanding your local market’s preferences is crucial to match your products with their tastes.

Identifying key players and competitors in the rice industry is essential to understand the market landscape before you draw a marketing plan for rice business. Global corporations and local businesses alike contribute to the competitive nature of the rice market. Analyzing their strategies can provide valuable insights into best practices and potential differentiators for your rice business.

Target Audience Identification

Your customers are the heart of your rice business; understanding them is crucial:

Defining Your Ideal Customers

Delve into the demographics, behaviors, and psychographics of your potential customers. Are you catering to health-conscious millennials, multicultural families, or gourmet chefs seeking premium rice?

Audience Segmentation

Segmentation is the key to effective marketing. By dividing your target audience into distinct groups, you can tailor your strategies to resonate with each segment’s unique needs and aspirations.

Empathy is the cornerstone of successful marketing. Identify the pain points and aspirations of your customers—whether it’s the desire for convenience, affordability, or culinary excellence—and address them in your offerings. This is crucial when making a marketing plan for rice business.

• Convenience : Busy individuals and families may seek quick-cooking rice options for weeknight dinners.
• Quality and Nutrition : Health-conscious consumers will appreciate information about the nutritional value of different rice varieties.
• Cultural Preferences : Some segments might have cultural preferences for specific rice types, which you can cater to.

Competitor Analysis

Gaining an edge in the rice market requires a comprehensive evaluation of your competitors:

SWOT Analysis of Competitors

By conducting a detailed SWOT ( S trengths, W eaknesses, O pportunities, and T hreats) analysis, you can identify avenues to differentiate your rice business and capitalize on untapped opportunities.

• Strengths : What are your competitors doing exceptionally well? Is it their branding, product variety, or customer engagement? Analyze the strength in their marketing plan for rice business.
• Weaknesses : Are there any gaps in their offerings or areas where they are struggling? These could be opportunities for your rice business.
• Opportunities : Are there emerging trends in the rice market that your competitors haven’t fully capitalized on?
• Threats : What external factors could impact your competitors’ businesses? How can you navigate these challenges more effectively?

By analyzing your competitors, you can pinpoint gaps in the market that your products can fill. For instance:

• If competitors are focusing mainly on staple rice varieties, you might consider introducing gourmet or rare rice types.
• If certain competitors lack a strong online presence, this could be an opportunity to leverage e-commerce platforms.

Setting Clear Marketing Objectives

Before you embark on any marketing activities and setting up a marketing plan for rice business, define your goals using the SMART framework:

SMART Goals

S pecific, M easurable, A chievable, R elevant, and T ime-Bound

Your marketing goals should be specific enough to provide clarity, measurable to track progress, achievable given your resources, relevant to your overall business strategy, and time-bound to instill a sense of urgency. You have to keep these SMART goals in mind when making your marketing plan for rice business.

• Specific : Clearly define what you want to achieve. Instead of saying “increase sales,” specify “increase online sales of premium rice varieties by 15% within the next three months.”
• Measurable : Establish metrics to track your progress. Use tools like Google Analytics to monitor website traffic, conversion rates, and other relevant data.
• Achievable : Ensure that your goals are realistic and attainable within your resources and timeframe.
• Relevant : Align your goals with your overall business strategy. For instance, if you’re focusing on premium rice products, your goals should reflect this positioning.
• Time-Bound : Set a specific deadline for achieving each goal. This creates a sense of urgency and helps you stay focused on execution.

Example of what a SMART-Goal looks like:

“Increase brand awareness by 20% within the next six months through targeted social media campaigns, resulting in a 15% rise in website traffic and a 10% increase in social media engagement.”

Sales Projections

Forecasting your sales based on historical data and market trends is critical for estimating your rice business’s growth potential:

Estimating Market Share

Conduct a detailed analysis of your competitors’ market shares and evaluate your rice business’s potential to capture a portion of this market, and add this to your marketing plan for rice business.

Examine internal and external factors, such as shifting consumer preferences and emerging market trends, to project your business’s growth potential over the next year.

• Internal Factors : Are you planning to introduce new rice varieties? Expand into new markets? These factors can significantly impact your growth potential.
• External Factors : Stay informed about macroeconomic trends, consumer behavior shifts, and technological advancements that could influence the rice industry.

Crafting a Strategic Marketing Plan

Now, let’s dive deeper into the strategic components of your marketing plan for rice business:

Product and Branding Strategy

Strategies to keep in mind and use within your marketing plan for rice business.

Unique Selling Points (USPs) of Your Rice Products

To differentiate your rice products, emphasize their unique qualities. Whether it’s sustainably sourced, locally grown, or infused with exotic flavors, highlighting these USPs can set your offerings apart.

• If you source your rice from local farms, emphasize the “farm-to-table” aspect of your products.
• If you offer a range of exotic rice varieties, educate consumers about their distinctive flavors and origins.

Developing a Compelling Brand Identity

When making a marketing plan for rice business, you need to understand that a strong brand identity is your rice business’s face to the world. Define your brand’s personality, values, and messaging to create a consistent and resonant customer experience.

• Logo : Create a logo that resonates with your target audience. If your rice business focuses on health and sustainability, your logo should reflect these values.
• Color Palette : Choose colors that evoke the desired emotions. For example, earthy tones can convey a sense of naturalness and authenticity.
• Brand Voice : Define the tone and language you’ll use in your marketing materials. Are you formal, friendly, or playful? Consistency is key.

Your packaging is a tactile representation of your brand. Opt for packaging that not only protects your rice but also conveys essential information and reflects your brand’s aesthetics.

• Sustainability : If eco-friendliness is one of your brand values, use packaging materials that are recyclable or biodegradable.
• Storytelling : Share the story behind your rice products on the packaging. Highlight the journey from the farm to the consumer’s plate.

Pricing Strategy

Pricing is a delicate balancing act between profitability and customer value and a key factor inside your marketing plan for rice business:

Competitive and Profitable Pricing

Study your competitors’ pricing strategies to position your rice products competitively while ensuring a healthy profit margin.

• Costs : Calculate the production, packaging, and distribution costs for each rice variety.
• Perceived Value : How do consumers perceive the value of your rice products compared to competitors?
• Price Elasticity : How sensitive are consumers to changes in price? Conduct pricing experiments to find the sweet spot.

Consider seasonal promotions, bundle deals, or loyalty programs to incentivize purchases and foster repeat business, such as:

• Limited-Time Offers : Create a sense of urgency with time-limited promotions, like “Weekend Special: 10% off Jasmine Rice.”
• Bundle Deals : Bundle complementary rice varieties or pair rice with other cooking essentials for added value.

This will keep the customers happy and boost your business, so include it within your marketing plan for rice business

Distribution Channels

Your distribution strategy in your marketing plan for rice business, can significantly impact your rice business’s reach and accessibility:

Wholesale, Retail, and Online Distribution

Evaluate the pros and cons of each distribution channel to determine the best fit for your rice products.

• Wholesale : Partner with local grocery stores, restaurants, and food cooperatives to distribute your rice products in bulk.
• Retail : Consider opening your own brick-and-mortar store if you want to provide a direct shopping experience for customers.
• Online : Set up an e-commerce website to reach a wider audience and offer the convenience of online ordering.

Create a list of all the pros and cons and include it in your marketing plan for rice business.

Forge partnerships with distributors and retailers aligned with your brand values to amplify your market presence.

• Local Partnerships : Collaborate with local food markets and health stores to feature your rice products in their stores.
• Online Retailers : Partner with established online retailers and marketplaces to expand your digital footprint.

Partnerships can really boost your credibility of your brand’s name. Don’t forget this vital strategy in your marketing plan for rice business.

Promotional Strategies

You have to effectively promote your rice business as it is key to driving customer engagement and sales. This is a crucial step for your marketing plan for rice business.

Digital Marketing Tactics

Leverage digital platforms to connect with your target audience. Engage in search engine optimization (SEO) to improve your website’s visibility, share compelling content, and execute targeted social media campaigns. Note it down in your marketing plan for rice business.

• SEO-Optimized Content : Create informative blog posts and articles about the nutritional benefits of different rice types and cooking tips.
• Social Media Campaigns : Showcase visually appealing images of your rice dishes and engage with followers through cooking tutorials and contests.
• Email Marketing : Send out regular newsletters featuring recipes, promotions, and updates about your rice products.

Traditional Marketing Approaches

Traditional marketing methods still hold value. Make use of these advantages and participate in local events, collaborate with community organizations, and consider print ads in relevant publications. This is an underrated strategy when making a marketing plan for rice business

Leverage the power of social media influencers to showcase your rice products in unique ways. Encourage your satisfied customers to share their experiences and recipes through user-generated content.

• Influencer Partnerships : Collaborate with food bloggers and influencers to create engaging content featuring your rice products.
• User-Generated Content Campaigns : Encourage your customers to share their culinary creations using your rice products on social media. Create a unique hashtag to track user-generated content.

Note it down in your marketing plan for rice business.

Budget Allocation and Implementation

Strategic allocation of resources ensures the effective execution of your marketing plan for rice business:

Budget Planning

Allocate your budget based on the anticipated returns from each marketing initiative. Consider factors such as advertising costs, campaign expenses, and personnel salaries.

• Marketing Channels : Allocate funds to different marketing channels based on their potential impact and ROI. For example, allocate more budget to digital marketing if you’re seeing higher engagement and conversions there.
• Advertising : Determine how much you’ll spend on online ads, social media promotions, and traditional advertising.

A well-structured timeline ensures the seamless execution of your marketing plan for rice business activities. Assign responsibilities, set deadlines, and monitor progress regularly.

Monitoring and Measuring Success

Your marketing efforts are not complete without continuous monitoring and assessment:

Key Performance Indicators (KPIs)

Track metrics like website traffic, conversion rates, social media engagement, and customer feedback. Analyze these KPIs to gauge the effectiveness of your marketing plan for rice business strategies.

Periodically review your marketing plan for rice business to identify areas for improvement. Be agile in adapting your strategies based on changing market conditions and customer preferences.

In the dynamic rice market, a well-crafted marketing plan for rice business is your secret ingredient to thriving. By conducting thorough market research, setting SMART goals, and implementing strategic marketing tactics, your rice business can transcend competition and make its mark. Remember, successful marketing is an ongoing journey of innovation, adaptation, and customer-centricity. Embrace these principles and watch your rice business flourish and reap the rewards of a thoughtfully designed marketing strategy.

Make – time – for – your – marketing plan for rice business.

The profitability of rice farming hinges on methods, costs, and market prices. While multiple factors influence potential profits, certain tips can help boost earnings. Rice farmers hold significant profit potential, influenced by factors like land choice and product quality. Moreover, potential market subsidies can aid in sustaining rice farming operations.

– Bulk Sales: Rice is often sold in bulk quantities, typically in large bags or containers, catering to consumers who prefer purchasing larger amounts at once, such as restaurants, caterers, or food processors. – Packaged Brands: Many rice varieties are packaged and branded, making them convenient for individual consumers. These packaged options come in various sizes, offering portion-controlled choices for households. – Specialty and Organic Markets: Rice is also sold in specialty and organic markets, catering to consumers seeking specific rice varieties, such as organic, exotic, or high-quality options that may not be available in standard grocery stores. These markets often emphasize unique flavors, sourcing practices, or cultural preferences.

This strategy offers guidance to food business proprietors on effectively positioning their products within the competitive food industry. Given the intense competition in the food sector, developing a robust food marketing plan becomes vital for sustained success.

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Michiel Cleuvenberghe

Hi there, I'm Michiel Cleuvenberghe, the chief editor of moneygrindmind.com I'm a professional private accountant since 2015, and I want to train you to become a professional in your finances as well!

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Rice Business Marketing Plan Template

• Great for beginners
• Ready-to-use, fully customizable Subcategory
• Get started in seconds

Are you a rice milling company looking to take your brand to the next level? Look no further than ClickUp's Rice Business Marketing Plan Template! This comprehensive template is designed to help you effectively promote your products, target specific customer segments, and grow your customer base. With this template, you can create strategic partnerships with distributors, implement effective pricing strategies, and utilize various marketing channels to showcase the quality, diversity, and sustainability of your rice offerings. Don't miss out on the opportunity to elevate your brand and reach new heights in the rice business. Get started with ClickUp's Rice Business Marketing Plan Template today!

Benefits of Rice Business Marketing Plan Template

When utilizing the Rice Business Marketing Plan Template, you can reap the following benefits:

• Streamline your marketing efforts to effectively promote your rice products
• Target specific customer segments to maximize your marketing ROI
• Create strategic partnerships with distributors to expand your reach and distribution network
• Implement effective pricing strategies to stay competitive in the market
• Utilize various marketing channels to showcase the quality, diversity, and sustainability of your rice offerings
• Increase brand awareness and grow your customer base through a well-developed marketing plan.

Main Elements of Rice Business Marketing Plan Template

ClickUp's Rice Business Marketing Plan template is the perfect tool to streamline your marketing efforts and achieve your business goals. Here are the main elements of this template:

Custom Statuses: Keep track of the progress of your marketing tasks with 6 different statuses, including Cancelled, Complete, In Progress, Needs Input, Planned, and To Do.

Custom Fields: Utilize 6 custom fields such as Quarter, Task Type, Impact, Progress, Percent Completion, and Effort to add specific details to your marketing plan and monitor the progress of each task.

Custom Views: Access 5 different views to gain insights and manage your marketing plan effectively. Use the Key Results view to track the key metrics and outcomes of your marketing efforts, the Timeline view to visualize your marketing tasks over time, the Getting Started Guide view to get a step-by-step guide on how to use the template, the Objectives view to set and manage your marketing objectives, and the Progress Board view to monitor the progress of your tasks in a visual board format.

Collaboration and Tracking: Collaborate seamlessly with your marketing team by assigning tasks, setting due dates, and adding comments. Track the progress of your marketing plan and ensure its successful implementation.

With ClickUp's Rice Business Marketing Plan template, you can create a comprehensive marketing strategy, track your progress, and achieve outstanding results for your business.

How to Use Marketing Plan for Rice Business

If you're looking to create an effective marketing plan for your rice business, follow these four steps using the Rice Business Marketing Plan Template in ClickUp:

1. Define your target audience

Identify who your ideal customers are for your rice products. Consider demographics such as age, location, income level, and lifestyle. Understanding your target audience will help you tailor your marketing efforts to reach the right people.

Use custom fields in ClickUp to categorize and segment your target audience based on their specific characteristics.

2. Set clear marketing goals

Establish specific, measurable, achievable, relevant, and time-bound (SMART) goals for your rice business. For example, you may want to increase sales by a certain percentage, expand into new markets, or improve brand awareness. Setting clear goals will guide your marketing strategies and help you track your progress.

Utilize Goals in ClickUp to set and track your marketing objectives, ensuring that everyone on your team is aligned with the same goals.

3. Develop marketing strategies

Based on your target audience and goals, determine the best marketing strategies to reach and engage potential customers. Consider utilizing a mix of digital marketing channels such as social media advertising, content marketing, influencer partnerships, and email marketing. Additionally, explore traditional marketing methods like print ads, radio, or TV commercials, if they align with your target audience.

Use the Board view in ClickUp to create cards for each marketing strategy and track the progress of each campaign.

4. Implement and analyze

Once you've developed your marketing strategies, it's time to put them into action. Execute your campaigns across various channels and monitor their performance closely. Track key metrics such as website traffic, conversion rates, social media engagement, and sales. Analyze the data to identify what's working and what needs improvement.

Utilize Dashboards in ClickUp to visualize and analyze your marketing data, allowing you to make data-driven decisions to optimize your campaigns.

By following these steps and leveraging the Rice Business Marketing Plan Template in ClickUp, you'll be able to create a comprehensive marketing plan that drives growth and success for your rice business.

Get Started with ClickUp’s Rice Business Marketing Plan Template

Rice milling companies can use this Marketing Plan Template to effectively promote their products and grow their customer base.

First, hit "Add Template" to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you'd like this template applied.

Next, invite relevant members or guests to your Workspace to start collaborating.

Now you can take advantage of the full potential of this template to create a comprehensive marketing plan:

• Use the Key Results View to track and measure the success of your marketing campaigns
• The Timeline View will help you plan out the timeline for each marketing initiative and ensure timely execution
• Refer to the Getting Started Guide View for an overview of the marketing plan and how to get started
• Utilize the Objectives View to set clear and measurable marketing objectives
• Use the Progress Board View to visualize the progress of each marketing activity and identify areas that need attention
• Organize tasks into six different statuses: Cancelled, Complete, In Progress, Needs Input, Planned, To Do, to keep track of progress
• Update statuses as you progress through tasks to keep stakeholders informed of progress
• Monitor and analyze tasks to ensure maximum productivity and achieve marketing goals

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Rice Retailing Business Plan Tips To Jumpstart Your Entrepreneurship

The Philippines is a rice-eating country so selling the staple makes a lot of sense. However, before you can start opening the first store and making a profit, you need a sound rice retailing business plan . Don’t let the idea scares you as with a capital as low as PHP 80,000 and the high demand for rice, you can totally have your own store and make ends meet with it. 

To help you becoming a rice vendor, here Corner4men will give you five tips to start with: 

Swot Analysis Of Rice Retailing Business

The location should be taken into consideration when you start making your rice retailing business plan. Convenience counts when you sell rice so choose a place that is near where people live or work.  Remember to offer a wide range of payment options for your customers. 

As a new rice vendor, the lack of experience and capital are the two biggest hurdles you will have to overcome. 

Opportunities

Choosing a prime location provides you with the opportunity to sell to a large number of customers, individuals as well as businesses. 

A major threat you should consider when you make your rice retailing business plan is an economic downturn that can negatively affect spending power. Competition is another factor you should think about. 

If you want safety and certainty for your business, a lugaw franchise is a good idea to consider.

Get An NFA License 

When you have a plan, the next step is to get an NFA license to be able to do a rice retailing business in the Philippines. Visit the nearest office of the NFA that exercises jurisdiction over the location of your future rice business. You will have to submit an application form and pay a small amount fee of PHP 100. The license fee will depend on the scale of your capital and after you pay, you will get a receipt. 

NFA investigators will inspect your facility and equipment. After getting the approval, you will need to come back to the NFA office bringing the official receipt, proof of compliance with deficiencies, and notice of inspection. 

After getting the NFA license, you need to register the business. If yours is a single proprietorship business, visit the Department of Trade and Industry, while corporation and partnership have to be registered with the Securities and Exchange Commissions. 

Buy Proper Equipment

You need proper equipment before you can start selling and this should be in your rice retailing business plan. The must-haves are price tags, a calibrated weighing scale, and white rice boxes. 

Some other requirements are variety, grade, and classification of the rice. Last but not least, you need a 45x75 cm signboard with the business name, the terms ‘Wholesaler,’ or ‘Licensed Grains Retailer,’ and NFA control number. 

Choose A Location For Your Business 

Where your store locates matters and you should choose a place with heavy vehicle and foot traffic. Knowing the habits of those who usually buy rice at the location is important too. 

Build Proper Storage For Your Merchandise 

One of the most significant disadvantages of selling rice is that the merchandise spoils quickly and easily. In just three months, the quality of rice will deteriorates so you should take note in your rice retailing business plan that the first-in, first-out method is the way to go. 

Rice-eating bugs and insects are your enemy so keep an eye on them. Keep the storage clean and free of them. You can also ask your rice suppliers about how to avoid them. 

Maintain Good Relationships With Your Suppliers And Customers 

Maintain good relationships with your suppliers as you can get referrals or even discount from them. Customers move a wide range of choices because they like to think that they have options at hand. 

Individual and corporate customers are equally important. For the latter, discounts go a long way in keeping them loyal to you. 

Your rice retailing business plan should have a section dedicated for this as gaining a new customer is way harder than keeping one coming back. 

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Sample Rice Farming Business Plan

Rice farming business plan sample.

Rice is a staple food across several countries around the world. This makes it a very important area of investment among investors.

With different varieties to choose from, investors have taken advantage of the popularity of this crop to grow their investments.

However, despite the interests and the investments committed to this business, a lot of entrepreneurs have failed to grow their investments.

This might not be unconnected with the absence of a business plan. The business plan provides the needed framework from which to implement sound business strategies. It is in the light of this that this rice farming business plan sample is written.

The presence of this (business plan) provides the entrepreneur with a clear line of action to take or implement leading to the growth and success of his/her rice farming business.

Here is a sample business plan for starting a rice farm.

Table of Contents

Executive Summary

Products and Services

Vision Statement

Mission Statement

Competitive Advantage

Target Market

Sales Projection

• Sources of Revenue

Publicity and Advert Strategies

Payment Channels

To be located in Arkansas, Roushney’s Rice Farm is a rice farm that will be specialized mainly on commercial rice farming.

Apart from the commercial cultivation of rice, our business interests will also include a rice mill where the produced rice will be processed and well packaged for domestic and international consumption. The export of our product will commence 5 years into our business operations.

Our sole product will be the production of rice on a commercial scale. Apart from the commercial cultivation of rice, other services we offer include rice processing for other farms and also the packaging of this product for domestic consumption and in the nearest future (5 years), the international market.

Our vision at Roushney’s Rice Farm is to be among the top 5 rice brands in America within 7 years of commencement of business operations.

Our mission is to commercially produce and process rice under the best conditions while maintaining the highest standards of quality recommended by the relevant regulatory bodies.

Also, with the help of an effective marketing department, we will be involved in aggressive marketing aimed at ensuring our product is consumed in every city in the United States, thereby gaining a substantial market share.

Our competitive advantage is the world-class marketing department established at Roushney’s. This department is manned by experts in marketing with years of experience in the agro-industry. With the vital contribution they will make, our rice farming business will be propelled into the big league within the shortest possible time.

Also, this rice farming business will have a highly motivated workforce that will be regularly given incentives to get the best from them. In addition to this, a work-friendly environment will be provided to enhance productivity.

With the large market for rice both domestically and internationally, our target scope is considerably wide. Apart from those along the rice value chain we will be targeting domestic consumers that include households, eateries, hotels, schools and also export these to rice consuming countries across the world.

We have come up with a 3 year projected sales from research conducted. The results show promising growth for our sales. This uses current economic realities. It, however, discounts unforeseen factors such as sudden inflation and natural disasters. The chart below summarizes the findings of the research conducted on our sales projection;

• First Year $290,000
• Second Year $510,000
• Third Year $880,500

Source of Revenue

Our source of revenue generation will come from our income-generating activities which include the commercial cultivation of rice, in addition to the processing of the same which will be sold to the open market consisting of both domestic and international.

Led by a strong marketing department, we will be using the latest tools in promoting our products and services. This is aimed at ensuring that more consumers know about the services we offer. By adopting efficient and effective publicity and advert strategies, our customer base will grow significantly within a relatively short time.

Our payment channels are robust and aimed at capturing the unique payment needs of our clients. It includes varied payment options that consist of the use of POS machines, the acceptance of cash deposits, payment through bank draft, mobile money, and the receipt of cheques among other options that may come up. This is done so our clients will pay for our products with ease, without being frustrated due to the shortage of payment options.

This business plan sample has made available a rice farming business plan sample, targeting specifically entrepreneurs with little to no experience in writing a good business plan. This sample provides the necessary guidance, and although it can be used as a guideline, the contents should solely consist of the farmers/entrepreneur’s unique business realities.

READ: STARTING A RICE RETAILING BUSINESS

With a compelling and well-written business plan, you are sure to attract the necessary funding for your business, in addition to having the right framework that will guide your business to avoid common pitfalls that come with a lack of having a good business plan.

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How to Start a Bigasan / Rice Retailing Business in Philippines

We, Filipinos, are big fans of rice. We could even go so far as to say that rice is one of the most important foods in our daily diet. It’s cheap, easy to cook and eating it with some meat or fish makes a complete meal. We love it so much that most, if not all, eat rice three times a day! This is a very good point as to why setting up a bigasan or rice retailing business in our country is a very profitable venture.

In this guide, we share with you the basics, steps, and some tips on how to set up and run a successful rice retailing business. Keep on reading to learn how to get started.

Table of Contents

What Is a Bigasan or Rice Retail Business?

A bigasan is a type of retail store that sells various types of rice. In the Philippines, this type of store is usually carried out in a simple storefront. The name of the different varieties and their corresponding prices are displayed on the bags.

In order to complete the transaction, customers must provide the store’s staff with the requested amount of rice. The staff will then weigh it and place it in a bag for the customer to pay for.

Although there are specialized stores that only sell rice, there are also other outlets that carry rice. These include sari-sari stores.

Bigasan Business Components

Of course, a bigasan, just like any other business, requires certain components to function. These components are interrelated and cannot be separated from each other. For example, the business needs to have a product or service to sell to customers. It also needs a place where its customers can purchase these items—a storefront or online store. Here are some of which you need to familiarize yourselves with:

The amount of capital you need to start a bigasan business depends on your business model. You can begin a retail operation with as little as PHP 50,000, while franchising may require an initial investment of up to PHP 300,000.

If you’re not yet sure which business model is ideal for you, don’t worry! We’ll also touch on that as we go along.

2. Customers

Bigasan customers include residences, restaurants, hotels, and other establishments that sell rice meals.

Finding customers for this kind of business is not that hard since you’re selling a food product, and in our country, rice meals are a staple.

But if you’re wondering what a good way to reach your customers and grow your business is to approach establishments that sell rice meals and propose a partnership. As an alternative, you can also go online and use social media to reach out to potential customers.

3. Competitors

Your competitors are other rice wholesalers. Supermarkets have a different client base since they sell rice at least 50% more expensive than you do.

Again, don’t be scared about the competition. You just have to find a place where there’s a strong market, but not enough suppliers. And from there, just ensure that you deliver high-quality products at a good price, and your business should thrive.

4. Who should start a Bigasan business?

A Bigasan business can be started by anyone who wants to be their own boss, but prefers a low-maintenance retail store with an established customer base. That, in itself, is a great advantage for anyone, especially OFWs, who are looking to start a business but are not quite sure about their choice of industry. Furthermore, Bigasan is also a good business for anyone who wants to provide for their family and earn a steady income without working long hours in an office.

Pros and Cons of this Business

There’s a steady demand for rice since most Filipinos eat rice every day. As such, you’ll have to do very little marketing to get customers. Rice is also one of the cheapest food items available in the country—meaning it can generate profits that can sustain your business!

On the other hand, rice is vulnerable to pests if stored improperly, and its quality deteriorates over time. It’s also difficult for rice sellers to differentiate themselves from competitors other than by offering lower prices.

That being said, there is no perfect business, but what’s important is that you find one that meets your needs and fits in with your lifestyle.

How Does a Bigasan or Rice Business Make Money?

When a rice business purchases its bags from a wholesaler, it adds a “patong” or a “markup” to the cost of the product. After that, the business decides on the price that it will sell to its customers. The profit from selling the rice goes to the rice business.

It is typically hard to have a large margin unless you buy in bulk. This is the reason why a rice business with a high capital requirement usually has difficulty operating.

As to how much you can earn from this business, this will depend on the type of rice you sell and how much you charge for it. The price is determined by the supply and demand in your area, as well as by the quality of your product.

What You Need to Get Started with Your Bigasan Business

So you’ve already looked into the pros and cons of this business and have decided to start your own rice business. What are the things you need to have? Take note of the following:

1. Secure an NFA License

To start a rice business, you need a National Food Authority (NFA) license. The law states that every rice business must be approved by the NFA first.

But don’t worry—you can get an NFA license by filling out an application form at the NFA office in your area, paying the P100 application fee and submitting it along with other requirements like a business plan and inventory list.

The NFA will review your application and approve or deny it within 30 days.

2. Register Your Business

Next, you’ll need to register your business. There are three types of entities you can register with: sole proprietorship, partnership or a corporation.

For sole proprietorships, register with the Department of Trade and Industry (DTI).

For partnerships and corporations, register with the Securities and Exchange Commission (SEC). You can find more information at those offices or online.

3. Pick a Good Location

One of the most important factors that you need to consider when it comes to starting a rice dealer business is the location. Having a bigasan business is very important, as it will allow you to attract many people who go to the market every day. You can also start a rice business in rural areas or downstream regions.

If there’s a high demand for rice, you can start a rice dealer business in a place where there’s a lot of demand. This can be done if you’re the only one selling at a certain area or street.

4. Invest In Proper Storage For Rice

Rice spoils quickly and will deteriorate within three months. The best way to prevent it from going bad is to use the “first-in, first-out” (FIFO) method, which ensures that sacks of rice are used in order from oldest to newest.

Pests like bukbok (weevils) are rice’s worst enemy. To prevent infestation, you should always clean and sanitize your storage area.

5. Prepare Your Capital

You must have money to start a business. The question is how much capital do you need? With a bigasan business, you can adjust your budget to cover your expenses.

You can spend as much money as you want, or start small with as little as you can. For instance, you can have a bigasan store for just P60,000.

Before you start a bigasan business, it’s important that you take into account the various expenses that will be involved in running it.

6. Source the right equipment

As we mentioned, rice can spoil easily and so you need to have a space where you can keep it. This is why the National Food Authority requires that all rice traders have an equipment such as weighing scale, rice boxes and signboard (45cm wide x 75cm long).

Price tags that show the price per kilogram of each variety are also needed so customers will know how much they have to pay for each kind before they buy it.

7. Find suppliers

Next, you need to find out where to buy your rice from. You can ask around or do your research on the internet. Then, try to negotiate with each supplier so that you can get the best deals for all of them. Select the best suppliers, but don’t neglect the others; you may need them later too.

8. Identify your target market

In addition to thinking about your location, you also need to consider who your target customers are. These are the people who will be the majority of your customers, so it’s important to get this step right. You could target people who frequent palengkes or even just your neighbors or those near your barangay. Then, you just need to market to them!

9. Offer deliveries, especially during the pandemic

One of the most important factors you should consider when it comes to your bigasan business is accessibility. Since the pandemic started, most people can’t go outside to buy rice. You can provide a delivery service similar to what a water refilling station does.

This offer is only good if an individual orders a 50-kilo bag or one cavan of rice. Otherwise, it would be too expensive for you. You can also charge a flat fee for delivery.

10. To Franchise or Not

Today, there are many types of businesses that offer franchises. These include hotels, fast food restaurants and grocery stores, among others.

For new business owners, franchises are a great way to get started since they already have brand recognition, products and marketing in place.

Retail or Wholesale Rice Selling

You can start a rice dealer business if you plan on selling the product. You can register with the DTI or SEC for a single proprietorship, a corporation, or a partnership. You can also join a cooperative to start a business.

To start a rice dealer business, you must secure a license from the NFA. This government agency makes sure that you have the necessary equipment, such as a storage area and calibrated weighing scales. You also need to produce a green signboard that has your name and the control number of the NFA. It must contain a seal and your license’s renewal every year.

The minimum investment that you need to make to start a rice dealer business is about PHP30,000. Since this is a staple food for Filipinos, potential buyers are already there. There are several rice dealership business tips that you can learn.

Tips for Starting Your Bigasan Business

Here are some tips to ensure that you’re not missing anything and your bigasan business is all set to go:

1. Make sure that your space is clean and tidy. This will make customers feel comfortable and safe when buying rice from you.

2. Have a good supply of bigas in case many buyers want to buy at the same time.

3. Learn how to properly pack the rice and make sure that it is tightly sealed.

4. Choose quality bigas so that you can earn good money from your customers

5. Make sure that your prices are reasonable so that buyers can afford them

6. Be polite, courteous and friendly when talking with customers. Do not be rude or appear uninterested when a customer asks questions about the rice or your business.

7. Test the quality of the rice before selling it by cooking some and tasting it. If there are any problems with the taste, do not sell it until you have addressed them.

8. Make sure that you have enough change for your customers.

9. Have a sign that says “Bigasan for Sale” outside of your stall so that customers will know where to find you

10. Do not sell too much of the rice to one customer because this could cause problems with other buyers who want to purchase some as well.

11. While transporting rice, make sure that you use good quality rice bags.

Frequently Asked Questions

1. is bigasan business profitable.

Rice is a staple food in our country, and it is a profitable business for retailers. There are various types of rice that people can choose from, such as long grained, aromatic, white, and glutinous. These are the preferred ones for daily meals, as well as native sweets.

2. How Much Capital Is Required To Start A Rice Business In The Philippines?

For franchises and retailers, the required capital is 50,000 and 250,000, respectively. This is for people who want to sell products that have an existing market.

3. How to boost your Bigasan business?

Small discounts can be a great boost to your bigasan business as your customers will most likely refer you to their friends. Also, some suppliers will require retailers to have a certain amount of rice in order to supply them.

4. What is the first in first out method?

One of the most important factors that you should consider when it comes to keeping your rice products fresh and high-quality is using the “first-in, first-out” method.

This method ensures that the rice doesn’t go beyond its shelf life. In addition, you should regularly clean and disinfect your storage area to prevent pests from wreaking their effects.

5. How to get discounts on rice?

You can make a list of the local rice suppliers in your area and connect with them. Having a good relationship with them will allow you to receive better prices.

6. Why is it important to put a portion of the budget for rice?

Having a portion of the budget allocated for rice can help prevent problems with suppliers.

7. What do you need to register a bigasan business with?

Individuals who are sole proprietors or are operating as a corporation or partnership are required to file documents with the DTI and SEC.

8. Why is offering a wide selection important for a bigasan business?

Providing a wide variety of products and services makes it easier for customers to do business with you.

Final Thoughts

Starting a bigasan business in the Philippines is a great way to become your own boss, build a profitable business, and make a positive impact in the community. It is an affordable way to get into business that has a long history of success in the country.

As a business, you can provide a valuable service to the people of the Philippines and become an important part of their lives. With the right marketing and business strategy, a bigasan business can be a successful and profitable venture. So why wait any longer? Start your own bigasan business today and make a difference in the lives of many.

We hope this guide has helped you better understand what a bigasan is, how it works in the Philippines, and why you should consider starting your own business. If you have any questions, please don’t hesitate to comment in the section below.

READ NEXT: How to Start a Business in the Philippines: Easy Tips from DTI

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• Business Plan

Rice Retailing and Distribution Business Plan in Nigeria

Rice Retailing and Distribution Business and Financial Plan

Our Rice Retailing and Distribution Business Plan in Nigeria is well documented and can also be used for, but not limited to:

• Grant Applications,
• Bank Loans,
• Proposal writing,
• Business Concept Note,
• Competitions e.t.c

Purpose of the Rice Retailing and Distribution Business Plan in Nigeria

The Rice Retailing and Distribution Business Plan in Nigeria will be of great use:

• To formulate a strategy for starting and growing the business or existing business by identifying where the business is going and how to get there.
• To test the viability of the business idea and maximize its opportunities.
• To Obtain funding and achieve business goals and success. e.t.c

Benefits of the Rice Retailing and Distribution Business Plan in Nigeria

The Rice Retailing and Distribution Business Plan in Nigeria in beneficial because

• It helps in outlining the steps needed to achieve the business goals and ideas.
• It helps to articulate strategy to stakeholders who support the business.

Importance of the Rice Retailing and Distribution Business Plan in Nigeria

The Rice Retailing and Distribution Business Plan in Nigeria is important because

• It will assist you in making sound decision in the administration of the commercial enterprise which will make a contribution to the success of the business.
• It will additionally gives distinctive statistics on all components of the business, outlining the business desires and the steps required to achieve them.

Content of the Rice Retailing and Distribution Business Plan in Nigeria

• Executive Summary
• Introduction
• Business Description
• Keys to Success
• Products and Services
• Market Analysis
• Our Target Market
• Pricing Strategy
• Competitor Analysis
• Sales and Marketing Plan
• SWOT Analysis
• PEST Analysis
• Operational Plan
• Management plan
• Financial Plan and Projections
• Financial Diagnostics

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Great writeup! THis is so insightful and helpful. Thank you, Dayo!

Great article on Rice Business I love it. Thanks for sharing.

Thanks Wisdom

This looks good, I am a Nigerian living in Uganda. I like your structure so far. Maybe we can do something together in East Africa.

we will be glad to work together. you can send us email on [email protected]

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Home » Sample Business Plans » Wholesale & Retail

How to Write a Rice Retail Store Business Plan [Sample Template]

Are you about starting a rice retail store? If YES, here is a complete sample rice retail store business plan template & feasibility report you can use for FREE . Okay, so we have considered all the requirements for starting a rice retail store. We also took it further by analyzing and drafting a sample rice retail store marketing plan template backed up by actionable guerrilla marketing ideas for rice retail stores. So let’s proceed to the business planning section.

Why Start a Rice Retail Store?

There are businesses that someone with little schooling and no serious business background and training can start. One of such businesses is to open a rice retailing store. The major things you need to have in place to make success from this type of business is a good location, easy access to wholesale supply of quality rice and good customer service and accountability skills.

The truth is that if your rice shop is located in an area with good human and vehicular traffic, and you have quality and well – packaged rice in different sizes from different brands, you may not have to struggle to get people to visit your shop and make purchase.

So, if you have decided to open a rice retail store in your neighborhood, then you should ensure that you carry out feasibility studies and also market survey. This will enable you properly locate the business and then hit the ground running. Below is a sample rice retail store business plan template that can help you to successfully write your own with little or no hassle.

A Sample Rice Retail Store Business Plan Template

1. industry overview.

As the name of the business implies, rice retailing stores basically retail processed and bagged rice. Rice retail stores primarily purchase rice from wholesalers and retail them directly to end consumers – customers.

The Rice Retail Stores industry, just like most businesses in the retailing industry, depends on strong consumer spending to spur the demand for industry products. Over the last half a decade, the economy has begun recovering from recessionary declines with both the Consumer Confidence Index and disposable income increasing.

Going forward, as the economy of the united states continues to recover and consumers are expected to loosen their discretionary budgets, the industry is anticipated to experience growth.

The Rice Retail Stores industry is indeed a major sector of the economy of the United States of America and they generate several billion dollars annually from loads of rice retail stores scattered all around the United States of America.

The industry is responsible for the employment of well thousands of people. It is important to state that there is no rice retail store in the United States of America that has a lion share of the available market. New entrant into the industry can favorably compete for the available market.

It is a fact that an estimated two-thirds of the United States’ gross domestic product (GDP) comes from the general retail industry of which the rice retail stores industry also contributes.  This is why the United States of America’s economy is measured with the yardstick of how well the retailing business is fairing in the U.S.

In essence, when there is an unstable economy, purchasing power drops and it impacts the retailing / rice retailing stores industry negatively which may result in the closure of some rice retail stores.

Over and above, the rice retail store industry is a profitable industry and it is open for any aspiring entrepreneur to come in and establish his or her business; you can choose to start on a small scale in a street corner or you can choose to start on a large scale with several outlets in key cities through the United States of America and Canada.

2. Executive Summary

Mercy Lurton Rice Store®, LLC is a standard and registered rice retail store business that will be located in one of the busiest streets in Charleston – West Virginia. We have been able to lease a facility that is big enough to fit into the design of the kind of standard rice retail store that we intend launching and the facility is located in a corner piece property directly opposite the largest residential estate in Charleston – West Virginia.

Mercy Lurton Rice Store®, LLC will retail short-grain rice, medium-grain rice and long-grain rice (both in organic and non – organic form) et al from different brands from the United States and abroad. We are set to services a wide range of clientele in and around Charleston – West Virginia.

We are aware that there are several large and small chains of rice retail store outlets all around Charleston – West Virginia, which is why we spent time and resources to conduct a thorough feasibility studies and market survey so as to be well positioned to favorably compete with all our competitors. We have an online – service option for our customers, and our outlet is well secured with various payments of options.

Mercy Lurton Rice Store®, LLC will ensure that all our customers are given first class treatment whenever they visit our rice retail store. We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large the numbers of our customers’ base may grow to.

We will ensure that we get our customers involved in the selection of brands that will be on available in our store and also when making some business decisions.

Mercy Lurton Rice Store®, LLC will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.

We will ensure that we hold ourselves accountable to the highest standards by meeting our customers’ needs precisely and completely whenever they patronize our products. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our customers.

Mercy Lurton Rice Store®, LLC is a family business that is owned by Mercy Lurton and her immediate family members. Mercy Lurton has a B.Sc. in Business Administration, with well over 5 years of experience in the retailing stores industry, working for some of the leading brand in the United States. Although the business is launching out with just one outlet in Charleston – West Virginia, but there is a plan to open other outlets all around major cities in the United States and Canada.

3. Our Products and Services

Mercy Lurton Rice Store®, LLC is in the rice retail stores industry to service a wide range of clients and of course to make profits, which is why we will ensure we go all the way to make available a wide range of well packaged rice from top rice production brands in the United States and other countries of the world.

We will ensure that we do all that is permitted by the law of the United States to achieve our aim and ambition of starting the business. Our product offerings are listed below;

• Retailing short-grain rice, medium-grain rice and long-grain rice (both in organic and non – organic form) from different rice production brands

4. Our Mission and Vision Statement

• Our vision is to become one of the leading brands in the rice retail stores industry in West Virginia and to establish a one stop rice retail store in Charleston – West Virginia and in other key cities in the United States of America and Canada.
• Our mission is to establish a world – class rice retail store business that will make available a wide range of well – bagged rice from top rice production brands at affordable prices to the residence of Charleston – West Virginia and other key cities in the United States of America and Canada where we intend opening of chains of rice retail stores and franchise.

Our Business Structure

Mercy Lurton Rice Store®, LLC do not intend to start a rice retail store business like the usual mom and pop business around the street corner; our intention of starting a rice retail store business is to build a standard and one stop rice retail store outlet in Charleston – West Virginia.

We will ensure that we hire people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers). As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of ten years or more.

In view of that, we have decided to hire qualified and competent hands to occupy the following positions;

• Chief Executive Officer (Owner)
• Store Manager
• Human Resources and Admin Manager

Merchandize Manager

Sales and Marketing Manager

Information Technologist

• Accountants / Cashiers
• Sales Agents / Customer Services Executive

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

• Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
• Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for fixing prices and signing business deals
• Responsible for providing direction for the business
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization
• Reports to the board

Admin and HR Manager

• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
• Enhances department and organization reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments.
• Defines job positions for recruitment and managing interviewing process
• Carries out staff induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Oversees the smooth running of the daily office activities.

Store Manager:

• Responsible for managing the daily activities in the store
• Ensures that proper records of bags of rice are kept and warehouse does not run out of products
• Ensures that the store facility is in tip top shape and goods are properly arranged and easy to locate
• Interfaces with third – party suppliers (vendors)
• Controls rice distribution and supply inventory
• Supervises the workforce in the rice sales floor.
• Manages vendor relations, market visits, and the ongoing education and development of the organizations’ buying teams
• Helps to ensure consistent quality of well processed rice from different manufacturers are purchased and retailed in good price that will ensure we make good profit
• Responsible for planning sales, monitoring inventory, selecting the merchandise, and writing and pricing orders to vendors
• Ensures that the organization operates within stipulated budget.
• Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
• Models demographic information and analyze the volumes of transactional data generated by customer purchases
• Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
• Develops, executes and evaluates new plans for expanding increase sales
• Documents all customer contact and information
• Represent the company in strategic meetings
• Helps to increase sales and growth for the company
• Manages the organization website
• Handles ecommerce aspect of the business
• Responsible for installing and maintenance of computer software and hardware for the organization
• Manages logistics and supply chain software, Web servers, e-commerce software and POS (point of sale) systems
• Manages the organization’s CCTV
• Handles any other technological and IT related duties.

Accountant / Cashier:

• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensuring compliance with taxation legislation
• Handles all financial transactions for the organization
• Serves as internal auditor for the organization

Client Service Executive

• Ensures that all contacts with customers (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
• Through interaction with customers on the phone, uses every opportunity to build client’s interest in the company’s products and services
• Manages administrative duties assigned by the human resources and admin manager in an effective and timely manner
• Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to customers when they make enquiries (answer customer queries regarding the store and the merchandise)
• Finds out the customer’s needs, recommend, select and help locate the right merchandise, describe a product’s features and benefits.
• makes suggestions and encourage purchase of products
• Provides information about merchandise and delivery options
• Bags or packages purchases made
• Responsible for cleaning all the store facility at all times
• Ensures that toiletries and supplies don’t run out of stock
• Cleans both the interior and exterior of the store facility
• Handles any other duty as assigned by the store manager.

6. SWOT Analysis

Our intention to start just one outlet of our rice retail store in Charleston – West Virginia is to test run the business for a period of 2 to 5 years to know if we will invest more money, expand the business and then open other rice retail outlets all over major towns in West Virginia and key cities in the United States and Canada.

We are quite aware that there are several rice retail stores all over Charleston and even in the same location where we intend locating ours, which is why we are following the due process of establishing a business.

We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be welled equipped to confront our threats.

Mercy Lurton Rice Store®, LLC employed the services of an expert HR and Business Analyst with bias in retailing to help us conduct a thorough SWOT analysis and to help us create a Business model that will help us achieve our business goals and objectives. This is the summary of the SWOT analysis that was conducted for Mercy Lurton Rice Store®, LLC;

Our location, the business model we will be operating on (physical store and online store), varieties of payment options, wide range of well processed and well – bagged rice from different rice production companies from within the United States and other parts of the world and our excellent customer service culture will definitely count as a strong strength for Mercy Lurton Rice Store®, LLC.

So also our management team members are people who have what it takes to grow a business from start – up to profitability with a record time.

A major weakness that may count against us is the fact that we are a new rice retail outlet and we don’t have the financial capacity to engage in the kind of publicity that we intend giving the business.

• Opportunities:

The fact that we are going to be operating our rice retail store in one of the busiest streets in Charleston – West Virginia provides us with unlimited opportunities to sell our rice to a large number of individuals and businesses (hotels and restaurants).

We have been able to conduct thorough feasibility studies and market survey and we know what our potential customers will be looking for when they visit our rice store outlets; we are well positioned to take on the opportunities that will come our way.

Just like any other business, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing / spending power. Another threat that may likely confront us is the arrival of a new rice retail outlet in same location where ours is located. So also, unfavorable government policies may also pose a threat for businesses such as ours.

7. MARKET ANALYSIS

• Market Trends

If you are conversant with the Rice Retail Stores Industry, you will quite agree that the changes in disposable income, consumer sentiment, and ever changing eating habits are major growth drivers for sales in this industry.

No doubt, a massive rise in consumer confidence has also contributed in helping the industry experience remarkable growth, but uneven performance in these drivers has led to slightly constrained revenue growth for the Rice Retail Stores industry. So also, the rising demand for organic rice, as a result of increasing disposable income and consumer sentiment, will result in revenue growth.

Rice retail store business has been in existence for as long as human started trading goods, but one thing is certain, the rice retail store industry is still evolving. The introduction of technology and subsequently homed delivery options, online grocery cum rice retail store has indeed helped in reshaping the industry.

It is now a common phenomenon for rice retail stores and grocery outlets to leverage on technology to effectively predict consumer demand patterns and to strategically position their store to meet their needs; in essence, the use of technology helps retailers to maximize supply chain efficiencies. No doubt data collected from customers goes a long way to help rice retail stores and grocery stores serve them better.

8. Our Target Market

Possibly it will be safe to submit that the rice retail stores industry has the widest range of customers; almost everybody on planet earth consume rice; rice is indeed one of the most popular staple food in the world.

In view of that, we have positioned our rice retail store to service the residence of Charleston – West Virginia and every other location where franchise cum outlets of our rice retail stores will be located all over key cities in the United States of America and Canada.

We have conducted our market research and feasibility studies and we have ideas of what our target market would be expecting from us. We are in business to retail well processed and bagged rice from different rice production brands to the following groups of people and corporate organizations;

• Restaurants

Our competitive advantage

A close study of the rice retail stores industry reveals that the market has become much more intensely competitive over the last decade. As a matter of fact, you have to be highly creative, customer centric and proactive if you must survive in this industry. We are aware of the stiffer competition and we are well prepared to compete favorably with other leading rice retail stores in Charleston – West Virginia and throughout the United States and Canada.

Mercy Lurton Rice Store®, LLC is launching a standard one stop rice retail store that will indeed become the preferred choice of residence of Charleston – West Virginia and every other location where our outlets will be opened.

Our rice retail store is located in a corner piece property on a busy road directly opposite one of the largest residential estates in Charleston – West Virginia. We have enough parking spaces that can accommodate well over 10 cars per time.

One thing is certain; we will ensure that we have a wide range of well – processed and well bagged rice from leading rice production companies available in our store at all times. It will be difficult for customers to visit our rice store and not see the type of rice they are looking for.

One of our business goals is to make Mercy Lurton Rice Store®, LLC a one stop rice shop for both household and businesses (hotels and restaurants et al) our excellent customer service culture, online store, various payment options and highly secured facility will serve as a competitive advantage for us.

Lastly, our employees will be well taken care of, and their welfare package will be amongst the best within our category (startups rice retail stores) in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives. We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Mercy Lurton Rice Store®, LLC is in business to retail a wide range of well – processed and well – bagged rice from different rice production brands to the residence of Charleston – West Virginia. We are in the rice retail stores industry to

10. Sales Forecast

One thing is certain when it comes to rice retail stores, if your store is well stocked with well processed and well bagged rice from different rice production brands and centrally positioned, you will always attract customers cum sales and that will sure translate to increase in revenue generation for the business.

We are well positioned to take on the available market in Charleston – West Virginia and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base.

We have been able to critically examine the rice retail stores industry and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to startups in Charleston – West Virginia.

Below is the sales projection for Mercy Lurton Rice Store®, LLC it is based on the location of our business and other factors as it relates to rice retail stores start – ups in the United States;

• First Fiscal Year-: $120,000
• Second Fiscal Year-: $450,000
• Third Fiscal Year-: $750,000

N.B : This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor retailing same shoe brands and customer care services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

Before choosing a location for Mercy Lurton Rice Store®, LLC, we conduct a thorough market survey and feasibility studies in order for us to be able to be able to penetrate the available market and become the preferred choice for residence of Charleston – West Virginia. We have detailed information and data that we were able to utilize to structure our business to attract the numbers of customers we want to attract per time.

• Open our rice store in a grand style with a party for all
• Introduce our rice store by sending introductory letters alongside our brochure to hotels, restaurants, households and key stake holders in Charleston – West Virginia
• Ensure that we have a wide range of rice from different brands at all times.
• Make use of attractive hand bills to create awareness and also to give direction to our rice store
• Position our signage / flexi banners at strategic places around Charleston – West Virginia
• Position our greeters to welcome and direct potential customers
• Create a loyalty plan that will enable us reward our regular customers
• Engage on road shows within our neighborhood to create awareness for our rice store.
• List our business and products on yellow pages’ ads (local directories)
• Leverage on the internet to promote our business
• Engage in direct marketing and sales
• Encourage the use of Word of mouth marketing (referrals)

11. Publicity and Advertising Strategy

Despite the fact that our rice store is well located, we will still go ahead to intensify publicity for the business. We are going to explore all available means to promote our rice store.

Mercy Lurton Rice Store®, LLC has a long term plan of opening outlets in various locations all around West Virginia and key cities in the United States and Canada which is why we will deliberately build our brand to be well accepted in Charleston before venturing out.

As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand. Here are the platforms we intend leveraging on to promote and advertise Mercy Lurton Rice Store®, LLC;

• Place adverts on community based newspapers, radio stations and TV stations.
• Encourage the use of word of mouth publicity from our loyal customers
• Leverage on the internet and social media platforms like; YouTube, Instagram, Facebook, Twitter, LinkedIn, Snapchat, Badoo, Google+ and other platforms to promote our business.
• Ensure that our we position our banners and billboards in strategic positions all around Charleston – West Virginia
• Distribute our fliers and handbills in target areas in and around our neighborhood
• Contact corporate hotels, restaurants, households, landlord associations and schools by calling them up and informing them of Mercy Lurton Rice Store®, LLC and the products we sell
• Advertise our rice store business in our official website and employ strategies that will help us pull traffic to the site
• Brand all our official cars and trucks and ensure that all our staff members and management staff wears our branded shirt or cap at regular intervals.

12. Our Pricing Strategy

Aside from quality, pricing is one of the key factors that give leverage to rice stores, it is normal for consumers to go to places (rice retail outlets) where they can get well – processed and well – bagged rice at cheaper price.

We know we don’t have the capacity to compete with other bigger and well – established rice retail store, but we will ensure that the prices of all the brands of rice that are available in our rice store are competitive with what is obtainable amongst rice retail stores within our level and in our location.

• Payment Options

The payment policy adopted by Mercy Lurton Rice Store®, LLC is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Mercy Lurton Rice Store®, LLC will make available to her clients;

• Payment via bank transfer
• Payment with cash
• Payment via credit cards / Point of Sale Machines (POS Machines)
• Payment via online bank transfer
• Payment via check
• Payment via mobile money transfer
• Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for farm produces purchase without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for our rice.

13. Startup Expenditure (Budget)

In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting / leasing a big facility, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.

This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked.

As for the detailed cost analysis for starting a rice retail store business; it might differ in other countries due to the value of their money. These are the key areas where we will spend our start – up capital;

• The Total Fee for Registering the Business in the Unites States of America – $750.
• Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $3,300.
• Marketing promotion expenses for the grand opening of Mercy Lufton Rice Store®, LLC in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
• The cost for hiring Business Consultant – $2,500.
• The cost for insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $2,400.
• The cost for the payment of rent for 12 months at $1.76 per square feet in the total amount of $105,600.
• The cost for store remodeling (construction of racks and shelves) – $20,000.
• Other start-up expenses including stationery ( $500 ) and phone and utility deposits ( $2,500 ).
• Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $60,000
• The cost for Start-up inventory (stocking with a wide range of well – processed and well – bagged rice from different rice production brands) – $50,000
• The cost for counter area equipment – $9,500
• The cost for store equipment (cash register, security, ventilation, signage) – $13,750
• The cost of purchase and installation of CCTVs: $10,000
• The cost for the purchase of office furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al): $4,000.
• The cost of launching a Website: $600
• The cost for our opening party: $7,000
• Miscellaneous: $10,000

We would need an estimate of $250,000 to successfully set up our rice retail store in Charleston – West Virginia. Please note that this amount includes the salaries of all the staff for the first month of operation.

Generating Funds / Startup Capital for Mercy Lurton Rice Store®, LLC

Mercy Lurton Rice Store®, LLC is a private registered business that is solely owned and financed by Mercy Lurton and her immediate family members. They do not intend to welcome any external business partner which is why he has decided to restrict the sourcing of the start – up capital to 3 major sources.

These are the areas we intend generating our start – up capital;

• Generate part of the start – up capital from personal savings
• Source for soft loans from family members and friends
• Apply for loan from my Bank

N.B: We have been able to generate about $50,000 ( Personal savings $40,000 and soft loan from family members $10,000 ) and we are at the final stages of obtaining a loan facility of $200,000 from our bank. All the papers and document have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

14. Sustainability and Expansion Strategy

The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Mercy Lurton Rice Store®, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to retail our wide range of well – processed and well – packaged rice from different rice production brands a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.

Mercy Lurton Rice Store®, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of six years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List / Milestone

• Business Name Availability Check: Completed
• Business Registration: Completed
• Opening of Corporate Bank Accounts: Completed
• Securing Point of Sales (POS) Machines: Completed
• Opening Mobile Money Accounts: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Leasing of facility and remodeling the store: In Progress
• Conducting Feasibility Studies: Completed
• Generating capital from family members: Completed
• Applications for Loan from the bank: In Progress
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents and other relevant Legal Documents: In Progress
• Design of The Company’s Logo: Completed
• Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
• Recruitment of employees: In Progress
• Purchase of the Needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business both online and around the community: In Progress
• Health and Safety and Fire Safety Arrangement (License): Secured
• Opening party / launching party planning: In Progress
• Compilation of our list of rice brand that will be available in our store: Completed
• Establishing business relationship with wholesale rice suppliers: In Progress

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