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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

More on Wholesale & Retail

Bigasan Business 2024: 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 May 3, 2024 11:34 AM

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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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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Rice Dealer Business: 10 Proven Strategies for a Success

In the highly competitive rice industry, it is crucial for rice dealers business to have effective strategies in place to ensure a successful business. With the right approach, rice dealers can not only survive but thrive in the market. This article will outline ten proven strategies that rice dealer business can implement to achieve success.

• 1.1 Establish Open Lines of Communication
• 1.2 Pay Suppliers on Time
• 1.3 Show Loyalty to Suppliers
• 1.4 Collaborate with Suppliers on Marketing Efforts
• 1.5 Provide Feedback to Suppliers
• 2.1 Conduct Market Research
• 2.2 Stay Updated on Consumer Preferences
• 2.3 Track Emerging Varieties
• 2.4 Monitor Changing Dietary Habits
• 2.5 Analyze Competitor Strategies
• 3 Develop a Strong Brand Identity
• 4 Optimize Inventory Management
• 5 Provide Excellent Customer Service
• 6 Embrace Technology and Automation
• 7 Diversify Product Offerings
• 8 Implement Effective Marketing Strategies
• 9 Monitor Key Performance Indicators (KPIs)
• 10 Stay Updated on Industry Regulations and Standards
• 11 Conclusion

Build Strong Relationships with Suppliers

One of the key factors in running a successful rice dealer business is establishing strong relationships with reliable suppliers. By working closely with suppliers, rice dealers can ensure a steady supply of high-quality rice at competitive prices. Regular communication, timely payments, and loyalty can help build trust and foster long-term partnerships with suppliers.

Establish Open Lines of Communication

Maintaining consistent communication with your suppliers will allow you to remain abreast of the latest industry developments, as well as availability and price information. This will assist you in making judgments based on accurate information and will assist you in planning your inventory properly.

Pay Suppliers on Time

It is essential that payments be made on time in order to keep up positive connections with one’s suppliers. Be sure you adhere to the stipulated payment periods and steer clear of any delays or defaults.

Show Loyalty to Suppliers

You may show your dedication to your vendors and earn their confidence by constantly purchasing your goods from the same vendors. This may result in preferential service, better pricing, and access to bargains that are not available to the general public.

Collaborate with Suppliers on Marketing Efforts

Collaborate with various suppliers to enhance sales of their goods by promoting such items. This may take the form of collaborative marketing initiatives, product demonstrations, or even chances for co-branding.

Provide Feedback to Suppliers

It is important to provide suppliers with helpful comments on the quality of their rice and any areas in which there is room for improvement. They will be able to improve their goods and your cooperation will be strengthened as a result.

Understand Market Demand and Trends

To succeed as a rice dealer, it is crucial to have a deep understanding of market demand and trends. By staying informed about consumer preferences, emerging varieties, and changing dietary habits, you can tailor your product offerings to meet the needs of your target market.

Conduct Market Research

Investing time and money in performing market research to determine the present demand for various varieties of rice as well as the demand expected in the future is a smart business move. This may include conducting surveys, participating in focus groups, or reviewing industry information.

Stay Updated on Consumer Preferences

Keep an eye on what your customers want, and make adjustments to your product line appropriately. For instance, if there is an increasing demand for organic or speciality rice, you would want to think about adding some of these alternatives to your inventory.

Track Emerging Varieties

Be sure to keep an eye on new strains of rice that are gaining traction in the market. Customers who are seeking for unusual choices may get interested in your business if you are one of the first to provide these different possibilities.

Monitor Changing Dietary Habits

As new dietary patterns emerge, you should adapt the products you sell so that you can satisfy the needs and desires of those who follow certain diets. Options for rice that are gluten-free, low in carbohydrates, or rich in fiber may be included here.

Analyze Competitor Strategies

Research your rivals in order to have an understanding of the product offers, pricing techniques, and marketing strategies that they use. This will assist you in identifying areas of opportunity in the market and differentiating your company.

Develop a Strong Brand Identity

A strong brand identity can set your rice dealer business apart from the competition and attract loyal customers. By developing a unique brand image and consistently delivering on your brand promise, you can build trust and establish a strong presence in the market.

• Define Your Brand Values

Determine the fundamental principles that your company stands for. This may include aspects such as the product’s quality, its capacity to be maintained over time, its cost, or its cultural legacy.

• Create a Memorable Logo and Visual Identity

Make an investment in a logo designed by a professional and work to build a consistent visual identity for your business that matches its ideals. Customers will have an easier time recognizing and recalling your brand as a result of this.

• Craft a Compelling Brand Story

Create a captivating narrative about the beginnings of your company, its goal, and its dedication to excellence. This has the potential to resonate with clients and establish a connection on an emotional level.

• Consistently Deliver on Your Brand Promise

Make it a point to check that each encounter with consumers matches the core values and promises of your brand. The key to success is maintaining consistency in product quality, customer service, and the entire experience.

• Build Brand Awareness through Marketing

Make an investment in marketing activities to raise awareness of your business and connect with a more diverse audience. This may involve social media campaigns, internet advertising, or relationships with people who have a lot of power.

Optimize Inventory Management

Efficient inventory management is crucial for a successful rice dealer business. By optimizing your inventory levels, you can minimize costs, reduce wastage, and ensure timely availability of products.

• Implement Inventory Tracking Systems

Utilize inventory tracking systems to monitor stock levels, track sales, and identify popular products. This will help you make data-driven decisions and avoid stockouts or overstocking.

• Forecast Demand Accurately

Analyze historical sales data, market trends, and seasonal fluctuations to forecast demand accurately. This will enable you to plan your inventory levels and procurement accordingly.

• Optimize Storage Space

Make the most of your storage space by organizing products efficiently and utilizing vertical storage solutions. This can help maximize capacity and streamline operations.

• Minimize Wastage

Implement proper storage and handling practices to minimize wastage due to spoilage or damage. Regularly inspect your inventory and rotate stock to ensure freshness.

• Establish Supplier Agreements

Negotiate favorable terms with suppliers, such as minimum order quantities or bulk discounts, to optimize procurement costs and minimize inventory holding costs.

Provide Excellent Customer Service

In the rice dealer industry, providing exceptional customer service is a critical distinction in order to stand out from the competition. You may create a loyal client base and develop good word-of-mouth if you provide individualized help to your customers, immediately answer their problems, and go above and beyond what is expected of you.

• Train Staff in Customer Service Skills

Providing outstanding service to customers requires your personnel to have exceptional abilities, which can be obtained via investing in training programs. This involves engaging in active listening, empathizing with others, working through problems, and communicating effectively.

• Offer Personalized Assistance

Spend some time getting to know the specific requirements and preferences of each individual consumer. Make specific suggestions and offer direction in order to assist customers in making educated judgments on their purchases.

• Address Customer Concerns Promptly

In a timely way, respond to any questions, concerns, or feedback that is provided by customers. Exhibit empathy for the consumer and take the initiative to fix any problems to the satisfaction of the customer.

• Go the Extra Mile

Exceed customer expectations by offering additional services or perks. This can include free samples, recipe suggestions, or special discounts for loyal customers.

• Encourage Customer Feedback

Regularly seek feedback from customers to understand their experience and identify areas for improvement. Use this feedback to enhance your customer service and overall business operations.

Embrace Technology and Automation

Incorporating technology and automation into your rice dealer business can streamline operations, improve efficiency, and enhance the overall customer experience. By leveraging digital tools and platforms, you can stay ahead of the competition and meet the evolving needs of your customers.

• Implement an Online Ordering System

Offer customers the convenience of ordering rice online through a user-friendly website or mobile app. This can simplify the purchasing process and attract tech-savvy customers.

• Utilize Inventory Management Software

Invest in inventory management software that integrates with your sales data and provides real-time insights. This can help automate inventory tracking, procurement, and reordering processes.

• Leverage Social Media for Marketing

Utilize social media platforms to promote your rice dealer business, engage with customers, and showcase your product offerings. This can help increase brand visibility and attract new customers.

• Explore E-commerce Platforms

Consider selling your rice products on popular e-commerce platforms to reach a wider audience and tap into the growing online market. This can open up new revenue streams for your business.

• Adopt Customer Relationship Management (CRM) Systems

Implement CRM systems to manage customer data, track interactions, and personalize marketing efforts. This can help you build stronger relationships with customers and drive repeat business.

Diversify Product Offerings

Expanding your product offerings beyond traditional rice varieties can attract a wider customer base and increase sales. By offering a diverse range of rice products, including specialty or value-added options, you can cater to different tastes and preferences.

• Introduce Specialty Rice Varieties

Explore unique and exotic rice varieties that are not commonly available. This can appeal to customers looking for premium or gourmet options.

• Offer Organic and Sustainable Rice

With the increasing demand for organic and sustainable products, consider adding organic or sustainably sourced rice to your inventory. This can attract environmentally conscious customers.

• Provide Value-Added Rice Products

Create value-added rice products such as rice flour, rice noodles, or rice-based snacks. This can diversify your product range and open up new revenue streams.

• Cater to Dietary Preferences

Offer rice options that cater to specific dietary preferences or requirements, such as gluten-free, low-carb, or high-fiber rice. This can attract health-conscious customers.

• Collaborate with Local Producers

Partner with local farmers or producers to offer unique rice varieties or specialty products. This can support local communities and differentiate your business.

Implement Effective Marketing Strategies

Effective marketing strategies are essential for promoting your rice dealer business and attracting customers. By utilizing a mix of traditional and digital marketing tactics, you can increase brand awareness, drive sales, and stay ahead of the competition.

• Develop a Comprehensive Marketing Plan

Create a detailed marketing plan that outlines your target audience, key messages, and marketing channels. This will help you stay focused and allocate resources effectively.

• Utilize Online Advertising

Invest in online advertising platforms such as Google Ads or social media ads to reach a wider audience. Target specific demographics or geographical areas to maximize the impact of your ads.

• Leverage Social Media Marketing

Utilize social media platforms to engage with customers, share product updates, and run targeted marketing campaigns. This can help build brand loyalty and generate word-of-mouth referrals.

• Collaborate with Influencers

Partner with influencers or bloggers in the food or lifestyle niche to promote your rice products. Their endorsement can help increase brand visibility and credibility.

• Participate in Local Events or Farmers Markets

Showcase your rice products at local events or farmers markets to connect with potential customers directly. Offer samples, discounts, or cooking demonstrations to attract attention.

Effective Marketing Strategies

Monitor Key Performance Indicators (KPIs)

Monitoring key performance indicators (KPIs) is essential for tracking the success of your rice dealer business and identifying areas for improvement. By regularly analyzing relevant metrics, you can make data-driven decisions and optimize your operations.

• Track Sales and Revenue

Monitor your sales and revenue on a regular basis to understand your business’s financial performance. Identify trends, seasonal fluctuations, or any areas of growth or decline.

• Measure Customer Satisfaction

Collect feedback from customers to measure their satisfaction levels. This can be done through surveys, online reviews, or direct interactions. Use this feedback to identify areas for improvement.

• Analyze Inventory Turnover

Calculate your inventory turnover ratio to assess how quickly you are selling your rice products. This can help optimize your inventory levels and avoid excess stock or stockouts.

• Monitor Marketing ROI

Track the return on investment (ROI) of your marketing efforts to evaluate their effectiveness. Analyze metrics such as website traffic, conversion rates, or social media engagement.

• Evaluate Supplier Performance

Regularly assess the performance of your suppliers based on factors such as product quality, delivery times, and pricing. This will help you identify any issues and make informed decisions regarding your supplier partnerships.

Stay Updated on Industry Regulations and Standards

Compliance with industry regulations and standards is crucial for the long-term success of your rice dealer business. By staying informed about food safety guidelines, labeling requirements, and import/export regulations, you can ensure legal compliance and maintain customer trust.

• Familiarize Yourself with Food Safety Guidelines

Stay updated on food safety guidelines and implement proper hygiene practices in your storage and handling processes. This includes regular cleaning, temperature control, and pest control measures.

• Understand Labeling Requirements

Ensure that your rice products comply with labeling requirements, including accurate product information, nutritional facts, and allergen declarations. This will help customers make informed purchasing decisions.

• Comply with Import/Export Regulations

If you are involved in importing or exporting rice, familiarize yourself with the relevant regulations and documentation requirements. This will help avoid any legal issues or delays in customs clearance.

• Stay Informed about Quality Standards

Keep up-to-date with quality standards for rice, both locally and internationally. This includes factors such as moisture content, grain size, and milling quality.

• Obtain Necessary Licenses and Certifications

Ensure that you have obtained all the necessary licenses and certifications required to operate a rice dealer business. This can include food handling permits, business registrations, or organic certifications..

By implementing these ten proven strategies, rice dealers can position themselves for success and beyond. Building strong relationships with suppliers, understanding market demand, developing a strong brand identity, optimizing inventory management, providing excellent customer service, embracing technology, diversifying product offerings, implementing effective marketing strategies, monitoring key performance indicators, and staying compliant with industry regulations are all essential components of a successful rice dealer business. By continuously adapting and evolving, rice dealers can thrive in the competitive market and meet the needs of their customers.

As an expert sale and marketing professional in the rice exporting industry in more than 5 years, I hope my knowledge can help rice exporters to grow their businesses and reach new markets. If you want to get the free consultation about Vietnamese rice, please feel free to contact me.

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How To Start Rice Retail Store Business [PLAN]

• by Olaoluwa
• December 13, 2022 August 28, 2024

RICE RETAILING BUSINESS STARTUP GUIDE

Rice is one of the most popular and highly consumed food in most countries of the world. Because of this, it is always in high demand. If you are looking for a lucrative business that you can start with low capital, you can consider the rice retailing business.

This article is going to provide all the essential information you need on starting a rice retailing business.

• Carry Out a Market Research

Don’t just assume that because rice is always in high demand, you will automatically make good sales and profits. Though it is undisputed that rice is a highly demanded food commodity but this does not mean that it sells well in every location. Many factors influence the demand for rice and how well it will sell.

While there are many places where rice is regularly eaten on a daily and there are also environments where rice is a luxury that is eaten occasionally.  This is why you need to carry out market research to determine where to locate your rice retailing business. Market research will also help you to identify and understand your potential customers and even your competitors.

So, before users start anything as regards the rice retailing business, the first thing you should do is to write a rice retailing business feasibility study report and develop comprehensive market research. Doing this will arm you with all the necessary information you need for the business. And this will help you make the right decisions and also save you from making unnecessary mistakes.

• Learn About the Business

“What do I need to learn about starting a rice retailing business for God’s sake? Is it not to go and buy rice from wholesalers and resell?” I know those are some of the questions running through your mind.

Well, let me tell you the truth, if you don’t want to take avoidable risks that can make your business run at loss, then you need to go and learn about the business from someone who is already doing it. I mean, do you know how to distinguish a bowl of good rice from a bad one? Do you know the right place to purchase quality rice at cheap prices?

You don’t have to waste time trying to figure this out all by yourself when you can always learn how to it right.  My advice to you is that you should look for one or two highly successful rice retailers and go and learn the nitty-gritty of the business from them.

• Find a Good Business Location

Like I mentioned earlier, it is the location of your rice retailing business that will determine whether you will sell very well or not. So, when you are finding a location for your business, make sure that location is where there is a high demand for rice. Also, make sure it is not too far from where you will be getting your rice supplies.

As soon as you get a location that is suitable for your rice retailing business, start promoting your business to people around. Intimate people about what you intend to sell so that they can become familiar with it.

• Write a Rice Retailing Business Plan

If you want your rice retailing business to go far, then you will need a business plan for it. A business plan will not only help you preempt the future and plan for it by setting clear goals, but it will also make it easy for you to pitch investors for your business and even apply for bank loans in case the need arises.

If you want to write your business plan by yourself, there are BUSINESS STARTUP GUIDEs and templates online that users can use as a guide on how to go about it.

• Register the Business

If you want your rice retailing business to be taken seriously, then you need to register the business. Registering your business will make it looks professional and people will not be reluctant to transact business without because they know your business has legal standing.

Also, it will make it easy for you to get contracts from corporate organizations and government agencies.

• Start the Business

If you do not have the required capital to start a rice retailing business, the first thing you should do is to source from capital either from your friends and family members or from the bank. After you have raised capital, you can then make a bulk purchase of rice of different varieties that your customers will like either from a wholesaler or directly from a rice farm.

You should also get all the other basic things you will need like storage facilities, measuring tools, etc. If you cannot handle the business single-handedly, then you can hire a few people to work with you.

• Promote the Business

Remember, your business cannot thrive if you are not making sales and you can’t make good sales if you don’t market your business. So, don’t sit still and assume that consumers will just start rushing to you. You need to do aggressive marketing and look for irresistible offers that will make people buy from you and become your loyal customers.

RICE RETAILING BUSINESS PLAN EXAMPLE

Here is how to start a rice retailer business.

A rice retail store business is a business that can be started by virtually anyone. You do not need any form of experience, good business or educational background to start and run a rice retail store.

One basic requirement for setting up a rice retail business  is the regular supply of rice and a good site for your business.

This article serves as a guide to how a rice retail store BUSINESS STARTUP GUIDE looks like. You will need it to effectively start your rice retail store business.

Business Name: George Grey Rice Retail Store

Executive Summary

Our Products and Services

• Vision Statement

Mission Statement

Business Structure

• Market Analysis

Sales and Marketing Strategy

• Financial Plan

Competitive Advantage

George Grey rice retail store is a rice retail store owned by a 45-year-old high school dropout, George Grey. It is a registered store and will be situated in downtown Los Angeles, California. We are looking to become one of the biggest rice retail stores in the United States. To make this happen, we have secured a facility that is large enough to help us achieve this.

At George Grey rice retail store, we are aware of the existing competition in the rice retail store business. As a result of the competition that exists in this business, we have carried out massive research to help us know what our customers need. With this, we will be able to give our customers exactly what they want.

We will also make sure that our customers get the best services whenever they come to purchase our goods. We intend to have a personal relationship with all our customers. This, we will achieve with the use of CRM software.

George Grey rice retail store is not in the rice retail business for fun. We are in this business to make a lot of profit.

We know that to make a lot of profit, we need to be able to please our customers. As a result of this, we will provide our customers with the best price from the most trusted rice production firms that are in the world.

The products that we will offer our clients include long-grain rice, short-grain rice, and medium grain rice.

All these will be available both in non-organic as well as organic form.

Vision Statement Our vision at George Grey rice retail store is to dominate the rice retail store industry. We have the vision to become one of the most sought after as well as successful rice retail stores in Los-Angeles California and the United States.

At George Grey rice retail store, our mission is to set-up a standard rice retail store business that will be able to meet the ever-increasing needs of our numerous potential customers. We intend to ensure that properly bagged rice and will be obtainable to our prospective customers for a price that they will easily afford.

We are also looking to grow from just having a single rice retail store in Los Angeles, California to having a chain of rice retail stores scattered across the United States.

We are looking to just set up a store that will be considered average. Our intention at George Grey rice retail store is to set up a business that will be a standard for other rice retail store business that will be set up after we get established. We know that becoming a force to reckon with in this business will not happen overnight. We are very intentional.

As a result of this, we will employ the services of only those that we are certain can function at the level we want to operate. We will ensure that our staff are qualified to work in rice retail stores and are also very customer-friendly.

Market Analysis Market Trend

The rice retail store industry is not new. However, it is constantly changing. At the moment, this industry is moving very rapidly from a manually powered industry to a technology-driven industry.

As a result of the advantages that technology has made available, home delivery, as well as online ordering, are now a major part of the rice retail store business.

We are new in the industry and we intend to get a foothold fast. To achieve this, we will carry out the following;

• Give discounts to our first set of customers as well as our regular customers
• We intend to have a strong online presence
• We will also place our handbills in public places

Our Target Market

Virtually everyone feeds on rice. This makes the market for the rice retail store business a very large one. We are not the only rice retail store in Los Angeles, California. Therefore, we do not intend to offer everyone our services.

After carrying out our research, we have come up with a target market that we know will suit our business. Those in our target market include;

• Restaurants

Financial Plan Source of Startup Capital

To get our rice retail store business started on the level that we intend, we will need $100,000. As it stands, we do not have all the money we need. We have been able to come up with 60% of the amount that is needed to set-up this business. The remaining amount will be gotten as a loan from the bank.

We are not ignorant of the high-level competition that exists in the rice retail store business. To stand out, we have chosen a location that will constantly keep us because of our customers. We are also looking to get the best rice brands from top rice packaging firms.

This is a rice retail store BUSINESS STARTUP GUIDE. This business is owned by George Grey and will be located in downtown Los Angeles, California.

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A Complete Guide To Marketing Strategy For Rice Business

Marketing a rice and rice products business can be a daunting task for new entrepreneurs. But with consumer demand on the rise, marketing skills are becoming increasingly important for rice and rice products business owners and managers.

As a business owner, it’s imperative to understand that your financial metrics are inextricably linked to your marketing capacity. Your marketing strategy is the most important aspect of your operation, particularly in an oversupplied market like rice and rice products. In fact, numerous business gurus credit marketing and advertising as the primary factors contributing to business success.

Effectively marketing your rice and rice products business is about more than simply advertising on television or radio or in the newspaper. Successful marketing emphasizes a comprehensive, integrated approach to marketing that incorporates many different marketing communications channels and strategies to reach your target audiences. Whether you are selling rice cakes or cutlets, marketing must be at the core of your business’s operational success.

The goal of any marketing campaign for rice and rice products business owners is to reach customers in their targeted market segments or niche, generate an interest in your product or service and eventually convert customers into paying patrons.

In this brief guide, we will explain how to develop a cohesive marketing strategy that will help increase profits in your rice and rice products business. We will also offer key marketing tips and advice for all types of rice and rice products business owners and managers. You will have to read on to find out about the important elements that form effective rice and rice products marketing strategy.

Rice And Rice Products Marketing And Commercialization Strategy

While there are numerous aspects to consider, your marketing and commercialization strategy will ultimately be built around identifying and strengthening your differentiators from other rice and rice products businesses. The strategy will take into account your product quality, pricing, distribution, reputation, marketing communications, value proposition and many other factors to help the market differentiate your rice and rice products business.

Fundamental to your marketing strategy will be to create an “angle” for your rice and rice products business. For example, you may want to claim that your instant rice is “the world’s healthiest instant rice.” Or that your line of wontons will be the best wontons in the world. You must create a promotional strategy that is unique and meaningful to your ideal audiences.

Another basic principle of the marketing strategy is to direct your promotional resources to the most effective outlets for your rice business. Which publications, websites, social media websites, blogs, Yahoo! groups, and other media are best qualified to reach your customers? The most efficient approach is to identify the top few outlets for your products and develop these media into powerful marketing channels to push your rice business.

You must also consider about your target markets, your competitors’ marketing strengths, and your own marketing strengths. This will help you identify marketing methods and tactics and make better marketing decisions.

The whole marketing process relies on the communication of a unique and relevant message that can be differentiated from the communications of other companies. The approach that you should take for your rice and rice products business is to develop a marketing strategy that can be precisely and easily communicated to your target audiences. You should be able to convey your message in no more than 175 words.

Differentiate Your Rice Business Strategy

The key to every marketing strategy is differentiation. Your rice business must have a competitive advantage that allows it to stand out from the crowded sea of competitors in your industry. There are many ways you can differentiate your rice business.

For example, if your rice business is only one of a few rice businesses catering to the growing health food market, you can emphasize the health benefits of your products. Or if you are marketing organic or fair trade rice products, you can emphasize the socially conscious nature of your rice business.

You may have to spend a lot of time and effort (and money) to effectively differentiate your rice business from your competitors. Identify all of your differentiators and distribute them in your marketing communications consistently throughout the different marketing mediums you are employing.

Marketing communications can include virtually any form of communication to a targeted audience that you are trying to sell something to or position yourself relative to your competition. Marketing communications include television, radio, print ads, direct mail, email blasts, billboards, paid search, banner ads, display ads, online videos, web pages, and presentations. Depending on your marketing strategy, you may choose to advertise in multiple media. This can be an effective and low cost method of advertising. But it will take some diligent measuring of the various mediums you have employed to determine which strategies are the most effective and which may have a negative effect on your rice business.

Without understanding some basic marketing terminology, your marketing strategy will be useless to you, regardless of how creative and effective your business plan may be. Some of the most basic marketing definitions that you must understand are the stages of the marketing mix:

A marketing mix is a tool that is used by businesses to organize and prioritize the elements of their marketing strategy. These processes are the marketing activities that define a business entity irrespective of its scale. A business may be small, medium or large, but the marketing mix will remain the same.

These are the components of the marketing mix:

The market mix also includes target market analysis, product development, product positioning, and distribution analysis as well. Market mix is composed of all the activities you must undertake to develop, produce, promote and distribute your products.

The most important thing you need to understand is that to create a successful marketing mix strategy, you must be able to characterize your target market and position your particular product or service to appeal to your target market.

• Quality Price
• Distribution Place

Strong product differentiation is essential for your marketing strategy and business success.You must be able to differentiate your rice and rice products business from the many competitors in your niche area and come up with a marketing strategy that is unique and innovative.

One method of achieving product differentiation is through new product development or line extension. As you establish your rice business, you may want to consider expanding your product line.

The other option is to introduce packaging and labeling variations. For example, Nestle has used the Dreyer’s ice cream brand to market different products, such as frozen beverages, ice cream bars, ice cream sandwiches, ice cream desserts, soy ice creams, soft serve frozen desserts, and sorbets.

The size of the package can also be a tool for product differentiation. For example, the large 64 ounce (1.89 liter) bottles of POM juice stand out in a convenience store cooler among the smaller bottles of fruit juices.

Some other products that companies have packaged to enhance their product differentiation are:

• The Nike shoe
• The Tropicana orange juice container incorporating a “pour spout”, much like a ketchup bottle
• The single serve cereal box
• The Le Creuset cast-iron “Dutch oven”
• The Hot Pockets brand microwavable frozen breakfast sandwiches

Some of the more common methods of product differentiation include:

• Formulation
• Brand extension (also known as brand stretching)
• Customer relationship management (CRM)
• Product line extension
• Product life cycle management
• Product life cycle

The “product” in the marketing mix is the actual good or service you are trying to sell to your target customers. A good product makes the marketing mix work more efficiently.

Almost every business has a product. A product can be an actual good or a service. In some cases, both goods and services can be products. A product can also be considered intangible. An example is a corporate trademark or logo. For example, the Segway people mover or the Swiffer household cleaning products.

A service can also be a product. For example, a haircut or a candy bar. The term product refers to the marketing mix element whether it is good or service.

Formulating an effective strategy for product development and differentiating your rice products can be very important to your business success. For example, the Lays potato chip brand has a wide array of established products as well as “innovative products” that allow it to compete effectively with the Frito-Lay and Ruffles brands.

Differentiated product offerings are important for a number of reasons. If you are competing in a crowded market with many competitors, you may want to cast your net as wide as possible to capture as many potential customers as possible.

Another reason why it is important to differentiate your products from those of your competitors is because a product that is not differentiated enough from its competition has the potential of becoming too commoditized. A lack of differentiation can indicate that a product is “same old, same old” and consumers with have no reason to consider purchasing the product.

With many of the same products on the marketplace, the supplier is in what marketing theorist Theodore Levitt referred to in 1960 as a “marketing conundrum.” In this situation, to sell any product at all, a seller must differentiate his products from his competitors’ products.

Differentiating Your Rice Business

Rice must be differentiated by variety.

Marketing Strategy for Rice Manufacturers

There are a number of effective ways that you can differentiate your rice products to appeal to your target market. One of the best ways to differentiate your rice products is through packaging. Packaging provides an opportunity to highlight the benefits of your rice products and demonstrate the social responsibility of your packaging materials. For example, as consumers become more health conscious, food-and-beverage companies have been responding with more nutritious foods. New products are appearing on grocery store shelves that provide high nutritional value and health benefits. One example is “smart snacks.” These are snacks that can be eaten in small amounts to control hunger, but are low in calories. An example of this is the new Lay’s “Light” potato chip strain from the consumer giant, PepsiCo. These less-calorie chips are being sold in small, individual serving bags. The small bags are great for people who may be watching their weight or who are concerned about their overall health and nutrition.

Another innovative packaging strategy is environmentally-friendly packaging. Nestle has recently introduced its new Nespresso coffee capsules. These capsules are made from recycled cellulose that is 100% recyclable. Working in partnership with a Swiss company, Nestle has developed a system that allows the capsules to be collected and recycled. The capsules are a substitute for the traditional metal coffee can. Coffee is grown, bought and sold using these combustible cans. This process can contaminate forests, creates mountains of waste, pollutes the air and is costly. The advantage of these capsules is that they make the process of recycling much easier and much more efficient.

Even though your products may not be completely new and unique, there may be changes in the way your rice is produced, formulated, processed, and packaged that allow you to call attention to certain facts about your product or service. You must be able to promote your unique product or service and emphasize those features that make your product more useful or beneficial than your competitors’ products.

If your product does not have special features, then you have to develop a way to communicate your product value proposition. Offer a product line extension or a line assortment. This should provide enough of a reason to get customers to try your particular product or service.

The more you can market your rice products as a unique product, the better your chances are of selling your produce. If your product or service is one-of-a-kind, then you want to stress those aspects of the product that are unique with respect to your competition.

Also, you can communicate your exceptional product value proposition in a way that links your business with the essence of what the consumer seeks from you.

Some of the information was provided by the great team over at Engineeringness .

• MarketingRice
• MarketingStrategy
• RiceBusiness

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How to Start a Rice Business in India – Kanakkupillai

• Post author: Kanakkupillai
• Post published: July 31, 2021
• Post category: Business Tips

Last Updated on June 1, 2023 by Kanakkupillai

Start a Rice Business in India

Rice, as a staple food, plays a vital role in the Indian diet . With a growing population and increasing demand for rice, starting a rice business in India can be a lucrative venture. This article will guide you through establishing and running a successful rice business.

India has a massive market for rice consumption, making it an attractive industry for entrepreneurs. The diverse culinary culture and regional preferences generate high demand for different rice varieties nationwide. Understanding the market dynamics and consumer preferences is crucial before venturing into the rice business.

Of course, any business feasibility study or the planning stage is always the first step to take. Ask yourself what kind of rice business you want: rice farming business , rice dealership business , rice mill business , and wholesale or retail rice selling business .

You will need a large parcel of land for the rice farming business . You will need an excellent irrigation system, the best seeds, fertilisers, effective pesticides, harvesters, seeders, and tractors for plowing the land. These are just the basic necessities of this kind of rice business for you to be able to start and eventually and hopefully sell after the harvest season.

The rice mill business is also a good rice business. You will need a huge barn or storage area for the product that will be milled, and that has been milled. You will also need to invest in a rice milling machine. Proper maintenance of the rice milling machine is very important in this kind of business.

Key Takeaways

• Obtain the necessary licenses and permits, including business registration and a food safety license (FSSAI), to start a rice business in India.
• Establish reliable channels to source high-quality paddy for your rice mill, such as partnering with local farmers or agricultural cooperatives.
• Consider packaging options like non-woven bags, jute bags, laminated pouches, or rice sacks to preserve the quality of your rice products.
• Explore opportunities for exporting rice from India by obtaining an Import-Export Code (IEC) and complying with the regulations of importing countries.
• Differentiate your rice brand through unique varieties, certifications, strong branding, value-added services, and effective marketing strategies.
• Pay attention to key factors that affect rice quality, such as paddy variety, cultivation practices, harvesting and drying techniques, and the milling process.
• Ensure proper storage conditions, including cool and dry environments, protection from moisture and pests, and airtight containers to maintain rice quality.
• Be prepared to overcome market competition, price fluctuations, and quality control through market research, pricing strategies, and strong relationships.
• Establishing a profitable rice business takes time and requires a strategic approach, operational efficiency, and a focus on delivering high-quality rice products.

Demand for Rice in India

India’s population heavily relies on rice as a primary source of nutrition . It is consumed in various forms, including boiled rice, biryani, pulao, and other rice-based dishes. The demand for rice remains consistently high throughout the year, creating a stable market for rice producers.

Different Rice Varieties and Their Popularity

India is known for its rich variety of rice. Basmati rice, Sona Masuri, and Pusa varieties are some of the popular choices among consumers. Each region has its preferred rice variety, and understanding the local market preferences is essential for a successful rice business.

Various factors are involved in choosing what rice will best suit your establishment’s needs. Take a look at these types of rice to determine which flavour profile, colour, length, and texture will work best for you.

Arborio: Arborio rice is a medium-grain rice that is wider and has a characteristic white dot at the centre of the grain.

Basmati: When cooked, basmati rice grains are long, dry, and separate. They impart a pleasant, nutty aroma and flavour to any dish.

Brown: Brown rice grains have a chewy texture when cooked. They impart a pleasant, slightly nutty flavour to any dish. The nutritious bran layers are left on brown rice to retain its natural goodness and tan colour.

Jasmine: Cultivated in Thailand, jasmine rice will bring an exotic flair and flavorful accent to any dish. It develops a pleasant jasmine aroma while it is cooking.

White: The starch composition of white long-grain rice has a slightly sticky consistency that’s useful in stuffing, casseroles, and stir-fry dishes.

Factors to Consider Before Starting a Rice Business

Several factors must be considered before diving into the rice business to ensure smooth operation and profitability.

• Analyzing Market Potential: Conduct thorough market research to evaluate your target market’s demand and potential competition. Identifying gaps and opportunities will help you position your rice business effectively.
• Identifying Target Customers: Determine your target customer bases, such as wholesalers, retailers, or direct consumers. Understanding their requirements and preferences will guide your business strategy and product offerings.
• Location and Land Requirements: Selecting the right location for your rice business is crucial. Access to paddy cultivation areas, transportation facilities, and suitable infrastructure for the rice mill are essential factors to consider.
• Procuring Equipment and Resources: Invest in the necessary machinery and equipment for the rice mill. This includes paddy separators, huskers, polishers, and packaging machines. Additionally, ensure a steady supply of paddy and other raw materials required for production.

Procedure to Start a Rice Business in India

The rice mill business is one of the best options to get the maximum out of it. Most manufacturing opportunities established by the milling business are cost-intensive and profitable. And the profit that you get from the rice mill business is relative. The modern rice mill project cost is quite high. You have consumers who buy in great numbers and food establishments who order in bulk. Thus, becoming a rice dealer or retailer can net you good profits because of its daily demand. And with a low starting capital of about P80,000 to P120,000, it’s also an affordable business.

Step 1: Register a Company

Let’s try and understand the types of business entity structures available in India. Below is the list of some of them:

Step2: Udyog Aadhaar MSME Registrations:

Micro Small and Medium Enterprises are classified into three different types, which are mentioned below:

• Micro Enterprises – In case a business sets 25 lacs rupees in a specific business in the manufacturing sector comes under Micro Enterprises.
• Small Enterprises  – Such industries are identified in case the investment is more than 25 lakhs and below five crores in the manufacturing sector. also in case the industry spends more than ten lakhs and less than two crores under the services sector comes under Small Enterprises.
• Medium Enterprises  – Such industries have investments of more than five crores, and below ten crores fall under the manufacturing sector in the case of more than two crores, and less than five crores under trade type services sector come under Small Enterprises.

Step 3 – Factory License: 

The transfer/handover of goods and services from one entity or person to another in exchange for money is known as Trade. Manufacturing a product in a prescribed manner is called manufacturing.

Step 4 – NOC from the pollution department:

Apply for ‘consent to operate’ and ‘consent to establish’ from the Pollution Control Board Acts 1958: Apply for the  Rice-Milling Industry (Regulation) Act, 1958 .

Step 5 – PFA and ESIC Registration:

If your rice mill plant has employees, you need to get PFA and ESIC registration for the employees according to labour law.

Step 6 – FSSAI License:

The rice mill plant is in the food industry. You need to apply for an FSSAI license . One of the necessary conditions after registering a business entity is to obtain Government License / Permit. In case you are into the food industry, e.g. hawker, itinerant vendor, temporary stall holder, food distributor in any religious or social gathering events except a caterer, or by any way related to manufacturing, transportation

Step 7 – GST Registration:

Obtain GST registration which is compulsory for every business after the GST rule is applied. Making it very easy to do business in India and make interstate sales without restrictions

• Limited compliance
• Higher exemptions for new businesses under the composition scheme
• Less tax liability
• Financial Inclusion in the long run
• Boost the country’s economy, thereby increasing opportunities for startups

Constructing or Leasing a Rice Mill

Choose between constructing a new rice mill or leasing an existing one, depending on your budget and long-term plans. Ensure the facility meets the necessary infrastructure requirements for smooth operations.

Installing Machinery and Equipment

Install the rice milling machinery and equipment properly, adhering to safety guidelines. Regular maintenance and calibration are essential to ensure optimal production.

Procuring Raw Materials and Production Process

The quality of raw materials and the milling process significantly impact the final product.

• Sourcing Paddy for Milling: Establish reliable channels for procuring high-quality paddy. Partnering with local farmers, agricultural cooperatives, or paddy traders can ensure a consistent supply.
• Parboiling and Milling Process: Implement efficient parboiling and milling processes to obtain superior quality rice. Proper soaking, steaming, drying, and polishing techniques contribute to the rice’s desired texture, aroma, and taste.
• Packaging and Storage: Invest in quality packaging materials to preserve the freshness and quality of the rice. Ensure proper storage conditions to prevent moisture and pest infestation.
• Marketing and Distribution: Developing a robust marketing and distribution strategy is crucial for the success of your rice business.
• Developing a Branding Strategy: Create a compelling brand identity for your rice products. Focus on highlighting your rice’s unique qualities and benefits, targeting your customer base’s specific needs and preferences.
• Establishing Distribution Channels: Identify and collaborate with wholesalers, retailers, or distributors who can help reach your target customers effectively. Establishing direct consumer channels through online platforms or local marketplaces can boost sales.
• Pricing and Promotion: Determine competitive pricing strategies that offer value to customers while ensuring profitability. Promote your rice business through various marketing channels, such as social media, advertisements, and participation in local food events.

Starting a rice business in India can be a rewarding endeavor. You can establish a successful and profitable rice business with proper planning, understanding market dynamics, and implementing efficient production and marketing strategies. The key lies in delivering high-quality rice products that cater to the diverse preferences of consumers.

• What are the essential licenses and permits required to start a rice business in India?

The essential licenses and permits required to start a rice business in India include business registration, a food safety license (FSSAI), and environmental clearances, if necessary.

• How can I find reliable suppliers for high-quality paddy?

You can find reliable suppliers for high-quality paddy by establishing connections with local farmers, participating in agricultural trade fairs, and networking with rice mill owners and industry professionals.

• Is having prior experience in the rice industry necessary to start a rice business?

While prior experience is not mandatory, having a basic understanding of the rice industry can be beneficial. Consider partnering with experienced professionals or consultants to guide you if you lack direct experience.

• What are the packaging options for rice products?

Packaging options for rice products include non-woven bags, jute bags, laminated pouches, and rice sacks.

• Can I export rice from India?

Yes, you can export rice from India by obtaining an Import-Export Code (IEC) from the Directorate General of Foreign Trade (DGFT) and fulfilling the regulations and requirements of the importing countries.

• How can I differentiate my rice brand from competitors in the market?

To differentiate your rice brand, focus on offering unique rice varieties, highlight quality through certifications, develop a strong brand identity, offer value-added services, and implement effective marketing campaigns.

• What are the key factors that affect the quality of rice?

Key factors affecting rice quality include the choice of paddy variety, cultivation practices, harvesting and drying techniques, and the milling process.

• How can I ensure the proper storage of rice to maintain its quality?

Proper rice storage can be ensured by keeping it in a cool and dry place, protecting it from moisture and pests, and using airtight containers or packaging.

• What are the potential challenges in the rice business, and how to overcome them?

Potential challenges in the rice business include market competition, fluctuating prices, and ensuring consistent quality. Overcoming these challenges requires effective market research, pricing strategies, quality control measures, and strong relationships with suppliers and customers.

• How long does it take to establish a profitable rice business in India?

The time it takes to establish a profitable rice business in India varies depending on various factors, including market conditions, business strategy, and operational efficiency. Establishing a strong presence and achieving sustainable profitability in the rice industry typically takes several years.

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5 Important Tips for Starting a Rice Retailing Business (Bigasan)

Updated: April 15, 2023

In the Philippines where rice is eaten every day, starting a rice retailing business or bigasan makes a lot of sense. You have consumers who buy in great numbers and food establishments who order in bulk.

Thus, becoming a rice dealer or retailer can net you good profits because of its daily demand. And with a low starting capital of about P80,000 to P120,000 — it’s also an affordable business to start as well.

To help you succeed in this business, here are five important tips you should follow.

1. Get an NFA license first.

Your first priority when starting a rice retailing business would be to secure a license from the National Food Authority (NFA). They are the ones who will tell you if you are allowed to sell and distribute rice.

The NFA license can be procured at the nearest NFA office that has jurisdiction over the location of your business. You will be given an application form from a Licensing Officer (LO) after paying an application fee of P100.

Once you’ve submitted the application form back to the LO, you will pay a license fee that depends on your capital and receive an official receipt from the cashier.

The last thing you need to do is prepare your equipment and facility to be inspected by NFA investigator and if approved, head back to the LO with your notice of inspection, official receipt and proof of compliance with deficiencies (if any).

After acquiring an NFA license, your next step is to register your business. A single proprietorship business must register with the Department of Trade and Industry (DTI), while a partnership and corporation must register with the Securities and Exchange Commissions (SEC).

Related topic: How to Register Your Business in the Philippines

2. Buy proper equipment

The NFA needs you to have the proper equipment for selling rice. You will need a calibrated weighing scale, white-painted rice boxes, and price tags that indicate the price of the rice per kilogram among other things.

Other requirements include the classification, variety, and grade of the rice grain whether it is NFA or otherwise.

Lastly, you will need to put up a signboard that is 45 cm wide and 75 in length that shows the business name, the NFA control number, and the words “Licensed Grains Retailer” or “Wholesaler” to complete your legal requirements for selling rice.

3. Choose a good location for your rice business.

The location you choose should have the right target market, has heavy foot and vehicle traffic. Study the habits of those who frequent buying rice in “palengkes” and groceries to gauge how you would approach the situation to your favor.

4. Invest on proper storage for your rice.

The downside of selling rice is that it can spoil easily, and its quality will deteriorate in three months. So implement a first-in, first-out inventory method to optimize the shelf life of your rice and maintain its quality.

Another thing you should take note are insects or bugs that eat rice, such as bukbok or grain weevils. Keep your storage area clean and sanitized. Ask tips from your rice supplier as well on how to prevent infestation.

5. Get to know your suppliers and prospective customers

List down all the rice suppliers you have nearby and develop good relations with them, this way you would be able to take discounts further down the road and even get referrals from them.

Having a wide variety of rice will make it easy for customers to choose to do with your business since they have a lot of options to buy from you.

While this may be easy, consider making deals with large-scale businesses such as hotels, resorts, restaurants and small-scale businesses such as carenderias. By providing discounts to businesses, they would likely be more loyal to you and maybe even refer to you if they have other clients interested in buying rice in bulk.

Contact Information for Business Licensing Authorities

Department of Trade & Industry Trade & Industry Building, 361 Senator Gil J. Puyat Avenue, Makati City, Metro Manila, Philippines 1200 Website: www.dti.gov.ph Email: [email protected] Facebook: www.facebook.com/DTI.Philippines Twitter: @DTIPhilippines MSME Assistance Hotline:(+632) 751-5096

National Food Authority Philippines North Avenue, Quezon City, Philippines Website: www.nfa.gov.ph Facebook: www.facebook.com/nfapublicaffairs Twitter: @bigas_nfa Mobile no.: 0906-436-3133

Security and Exchange Commission (Licensing Unit) G/F Secretariat Building, PICC Complex, Roxas Boulevard, Pasay City, 1307 Website: www.sec.gov.ph Email: [email protected] Fax no.: 818-7187

Do you have a rice retailing business? I’d like to hear additional tips so please share them below in the comments section. Thank you.

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20 comments

rice retailing business feasibility study. I need help for this.

Hi Mr. Villafuerte. what if it’s not a retailer? what will be the process if it is for those who wants to be a distributor? do they need to put up a store before hand or as it is a start up, can it be our house as the business location? Thank you in advance.

just have my nfa license. kindly let me know where to buy rice for me to sell? Thanks

I am planing to set up a startup rice business (500K to1M budget) in Philippines and need some guid. what is the best option retailing , whole selling or . distribution ?

thx Neminda

I want first to have seminar before I start bigasan business,who can be a speaker for this?

Which site or reference can we check for schedule of seminars about Rice Retail/Wholesale business? Thanks po

this coming harvest season, i will harvest 40 sacks of rice 50 kilos per sacks.. who wants to buy?

i need a seminar or feasibility study for start up rice retailing business. thank you

i am planning to put a bigasan business budget is 200k please give me tips and factor to consider before putting this business thank you

major rice distributor contact me if interested

I want first to have seminar before I start bigasan business, Which site or reference can we check for schedule of seminars about Rice Retail/Wholesale business? Thanks po

hie i am sriharsha manava i am planning to start a start up retailing and anything that use in our house and daily need if any one having idea can you please share with me . and i am planning for supermarket too. you can share….

I want to attend seminar for bigasan …any one who knows ?

I want to start rice retailing business but i don’t know where to start . Is there someone there can give me some advice pls. Badly needed. Thank you

Hi Sir / Ma’am, Good day! I’m planning a business as a rice retailer but also I need a seminar first .

Me tindahan po ako sarisari store pwefe po ba ako mgtinda ng bigas kht tig iisang sako lng ng tatlong klase ng bigas?

gusto ko po sana mag start ng bigasan sa aming brgy.uupa lng po ng pwesto.un nga lng po 50 k lng puhunan q ok po ba na panimulang capital un? thanks po.

HI SIr. I am planning to start rice business as a rice retailer / Wholesale business KIndly let me know.

Sir/Ma’am, Idea po sana kung saan pwede mag apply/register for rice retailing business seminar, love to be in this field po..salamat

gusto ko po magstart ng bigasan business para sa community namin . sa bahay na rin po namin ung location. gusto ko po makahanap ng supplier. ung sustainable po at reliable

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Guide to Starting a Bigasan Business

A “bigasan” is a rice retailer in the Philippines, and starting a bigasan business involves setting up a store that sells rice and potentially other staple products. This article will cover the steps involved in starting a bigasan business, such as registering the business, securing a location, and obtaining permits and licenses. It will also discuss the potential challenges and rewards of starting a bigasan business and tips and best practices for running a successful bigasan store.

Table of Contents

The market for bigasan businesses

Supply and demand.

Rice is a staple food in the Philippines, and demand for rice has traditionally been strong. The Philippines is the world’s eighth-largest rice producer, and rice is a major agricultural product in the country. According to the Philippine Statistics Authority, the average Filipino consumes around 120 pounds of rice annually, and rice consumption has remained relatively stable in recent years.

In addition, there has been a growing trend towards specialty rice varieties, such as glutinous or black rice. These types of rice are traditionally used in desserts or special dishes, but they are becoming more popular as ingredients in everyday meals. This trend has created opportunities for bigasan businesses to offer a wider range of rice products and cater to changing consumer preferences.

Overall, the demand for rice in the Philippines remains strong, but it is evolving in some ways. Bigasan businesses must be aware of these changes and adapt their product offerings accordingly to remain competitive.

In terms of pricing, bigasan businesses typically offer competitive prices for their products. Because they are small, family-owned operations, bigasan stores have lower overhead costs than larger chain stores, and they can offer their products at competitive prices. In addition, many bigasan stores offer bulk discounts or other promotions to attract customers and drive sales.

Competition

In addition, bigasan businesses also face competition from larger chain stores, such as supermarkets or big-box stores, that offer a wider range of products and services. These stores may be able to offer lower prices on some products due to their economies of scale, and they may also offer additional services, such as in-store bakeries or delis, that are not available at bigasan stores.

Overall, competition in the bigasan market is strong, and bigasan businesses must be strategic to succeed. This may involve differentiating their product offerings, offering competitive pricing, and providing excellent customer service to build a loyal customer base.

Starting a bigasan business

In terms of costs, starting a bigasan business can be relatively affordable, but it still requires some upfront investment. The main costs associated with starting a bigasan business include rent or property costs, utilities, and inventory. Rent or property costs will depend on the location and size of the store, and utilities such as electricity and water will need to be paid regularly. Inventory costs will vary depending on the types of products the bigasan store offers, but they can be significant, as the store will need to stock a wide range of rice products and potentially other staple goods.

Potential challenges of starting a bigasan business include managing cash flow and sourcing high-quality rice at a competitive price. Managing cash flow can be difficult for small businesses, and it is important for bigasan businesses to carefully track their income and expenses to stay afloat. In terms of sourcing rice, bigasan businesses need to find reliable suppliers to provide high-quality rice at a competitive price. This can be challenging, as the rice market is competitive, and bigasan businesses must carefully balance the need for good value with the need for high-quality products.

Running a successful bigasan business

In terms of inventory and pricing, bigasan businesses must carefully manage their stock to avoid spoilage and ensure they have the right products to meet customer demand. This may involve keeping track of inventory levels and ordering new products as needed, as well as setting prices that are competitive but still allow the business to generate a profit.

In terms of expansion, there are several potential ways that a bigasan business could grow. One possibility is to open additional locations, which would allow the business to reach new customers and increase its sales. Another option is to offer online sales or delivery services, which could expand the business’s customer base and provide additional revenue streams. Overall, there are many opportunities for growth and expansion in the bigasan market, and successful businesses can capitalize on these opportunities to continue to grow and thrive.

To run a successful bigasan business, it is important to focus on providing good customer service, offering a wide variety of products, and maintaining clean and organized store premises. Managing inventory and pricing can also be key to success. There are many opportunities for growth and expansion, such as opening additional locations or offering online sales or delivery services.

Overall, aspiring bigasan entrepreneurs need to be prepared to face the challenges and capitalize on the opportunities to succeed. Some final thoughts and recommendations for aspiring bigasan entrepreneurs include:

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How to Write a Business Plan for Rice Farming: Key Steps to Success

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Embarking on a rice farming venture requires meticulous planning and preparation. Before crafting your business plan, it's essential to address a comprehensive 9-step checklist that lays the groundwork for your success. From conducting market research to establishing strategic partnerships, this guide will equip you with the insights and strategies needed to cultivate a thriving rice farming operation.

Steps Prior To Business Plan Writing

Conduct Market Research on Rice Consumption Trends

Before embarking on your rice farming business venture, it is crucial to conduct thorough market research to understand the current and future trends in rice consumption. This information will help you make informed decisions about the type of rice varieties to cultivate, the target market segments, and the overall feasibility of your business plan.

According to the United States Department of Agriculture (USDA) , the per capita rice consumption in the United States has remained relatively stable over the past decade, hovering around 26 pounds per year . However, the demand for specialty and premium rice varieties, such as organic, heirloom, and aromatic rice, has been on the rise, driven by the growing health-conscious consumer base.

• Analyze the demographic and geographic patterns of rice consumption in your target market to identify potential growth opportunities.
• Investigate the emerging trends in the rice industry, such as the popularity of whole-grain and gluten-free rice products, to align your business strategy accordingly.
• Gather insights from industry reports, market research firms, and trade associations to stay informed about the latest developments in the rice farming and distribution landscape.

Additionally, it is crucial to understand the competitive landscape in your local and regional markets. Analyze the pricing, product offerings, and marketing strategies of existing rice farmers and distributors to identify potential gaps or opportunities that your business can capitalize on. This information will help you position your rice products effectively and develop a unique value proposition for your target customers.

By conducting comprehensive market research, you can make data-driven decisions that will increase the likelihood of your rice farming business's success. Investing time and resources into understanding the market trends and consumer preferences will provide a solid foundation for your business plan and help you navigate the dynamic rice industry with confidence.

Identify Suitable Land for Rice Farming Operations

Selecting the right land is a crucial first step in establishing a successful rice farming business. The location and characteristics of the land can significantly impact the viability, productivity, and profitability of your rice cultivation operations. As you embark on your rice farming venture, it is essential to carefully evaluate and identify the most suitable land for your needs.

When assessing potential rice farming land, there are several key factors to consider:

• Soil Quality: Rice thrives in nutrient-rich, clay-based soils with good water retention capabilities. Conduct a thorough soil analysis to ensure the land meets the specific requirements for rice cultivation, such as a pH range of 5.5 to 7.0 and adequate organic matter content.
• Water Availability: Rice farming is a water-intensive process, and reliable access to a consistent water supply is essential. Evaluate the proximity to water sources, such as rivers, lakes, or irrigation systems, and assess the feasibility of establishing an efficient irrigation system.
• Topography: Gently sloping or flat terrain is ideal for rice farming, as it allows for efficient water management and cultivation practices. Avoid land with steep inclines or uneven surfaces, which can hinder mechanized farming operations and increase the risk of erosion.
• Climate Suitability: Rice cultivation requires a warm, humid climate with moderate temperatures and consistent rainfall patterns. Assess the local climate conditions, including average temperatures, precipitation levels, and the potential impact of seasonal variations or extreme weather events.
• Land Ownership and Legal Considerations: Ensure that the land you intend to use for rice farming is legally available for agricultural purposes and that you have the necessary land ownership or leasing rights to operate on the property.
• Consider the proximity of the land to key infrastructure, such as roads, transportation hubs, and processing facilities, to minimize logistics and transportation costs.
• Explore government programs or subsidies that may be available for rice farming operations, as these can help offset the initial investment and ongoing operational expenses.
• Engage with local agricultural authorities, extension services, or experienced rice farmers in the area to gain insights and recommendations on the most suitable land for your rice farming business.

By carefully evaluating these factors and identifying the most suitable land for your rice farming operations, you can lay the foundation for a successful and sustainable business. The right land selection will enable you to optimize your cultivation practices, maximize productivity, and position your rice products to meet the evolving market demands.

Assess Soil Quality and Water Availability for Cultivation

Establishing a successful rice farming operation requires a thorough assessment of the land's soil quality and water availability. These factors are crucial in determining the suitability of the site for rice cultivation and ensuring the long-term sustainability of the business.

To assess the soil quality, it is essential to conduct soil testing and analysis. This process will provide valuable insights into the soil's pH levels, nutrient composition, and overall fertility. Ideally, the soil should have a pH range of 5.5 to 6.5 , which is optimal for rice growth. Additionally, the soil should be rich in organic matter and essential nutrients such as nitrogen, phosphorus, and potassium.

• Consider conducting a comprehensive soil survey to identify any potential soil-related challenges, such as salinization or waterlogging, which could impact rice cultivation.
• Explore the possibility of amending the soil through the addition of organic matter or other amendments to improve its fertility and suitability for rice farming.

Alongside soil quality, the availability and reliability of water resources are critical for successful rice farming. Rice is a water-intensive crop, requiring approximately 3,000 to 5,000 liters of water per kilogram of rice produced . Assess the water sources, such as rivers, lakes, or groundwater, and ensure that they can provide a consistent and sufficient supply of water throughout the growing season.

Additionally, consider the water management infrastructure, including irrigation systems, drainage channels, and water storage facilities. Ensure that these systems are in place or can be developed to effectively manage water resources and prevent issues like flooding or water scarcity.

• Explore the feasibility of implementing water-efficient irrigation techniques, such as drip or sprinkler systems, to optimize water usage and minimize waste.
• Investigate the availability of government subsidies or incentives for the development of water infrastructure and water-saving technologies for rice farming operations.

By thoroughly assessing the soil quality and water availability, you can make informed decisions about the suitability of the land for rice farming and develop a sustainable cultivation plan that maximizes productivity and profitability. This comprehensive approach will help ensure the long-term success of your rice farming business.

Determine Required Infrastructure and Equipment Investments

Establishing a successful rice farming operation requires significant investments in infrastructure and equipment. These investments will play a crucial role in determining the productivity, efficiency, and long-term sustainability of your rice farming business.

One of the primary considerations is the selection of appropriate land for rice cultivation. The land should have suitable soil quality, access to reliable water sources, and the necessary topographical features to support rice farming. According to the Food and Agriculture Organization (FAO), the ideal soil pH for rice farming ranges from 5.5 to 7.0, with a clay or clay-loam texture that retains moisture effectively.

• Conduct a thorough soil analysis to assess the nutrient composition, pH levels, and drainage capabilities of the land before making any investments.
• Explore opportunities to access government-owned or leased land that may be suitable for rice farming, as this can help reduce initial capital expenditures.

In terms of infrastructure, rice farming typically requires the construction of irrigation systems, drainage channels, and storage facilities. Investing in a reliable irrigation system can increase rice yields by up to 30% , according to a study by the International Rice Research Institute (IRRI). Additionally, proper storage facilities are essential to protect the harvested rice from pests, moisture, and spoilage.

When it comes to equipment, rice farming operations often require specialized machinery, such as tractors, tillers, harvesters, and threshers. The average cost of a basic rice farming equipment package, including a tractor, cultivator, and harvester, can range from $50,000 to $100,000 , depending on the size and complexity of the operation. It is essential to carefully research and evaluate the available equipment options to ensure they are compatible with the specific requirements of your rice farming venture.

• Consider leasing or renting equipment, especially during the initial stages, to minimize upfront capital investments and maintain flexibility as your operation grows.
• Explore opportunities for shared ownership or cooperative use of equipment with other local rice farmers to reduce individual costs and maximize utilization.

In addition to the physical infrastructure and equipment, it is crucial to invest in appropriate storage and processing facilities to ensure the quality and freshness of the rice. Proper drying, milling, and packaging can increase the shelf life of rice by up to 6 months , according to a study by the IRRI. These investments can help you maintain a consistent supply and meet the evolving demands of your target market.

Explore Government Subsidies and Incentives for Rice Farming

One of the key considerations in developing a successful business plan for rice farming is understanding the available government subsidies and incentives. Rice farming can be a capital-intensive endeavor, and accessing financial support from government programs can significantly improve the viability and profitability of your operations.

In many countries, governments offer a range of subsidies and incentives to encourage and support the growth of the agricultural sector, including the rice industry. These programs can provide farmers with direct financial assistance, tax credits, low-interest loans, and other forms of aid to help offset the costs of land acquisition, infrastructure development, equipment purchases, and ongoing operational expenses.

To explore the government subsidies and incentives applicable to your rice farming business, it is essential to research the policies and programs in your local and national jurisdictions. Some common examples of rice farming-related subsidies and incentives include:

• Direct Payments: Governments may offer direct cash payments to rice farmers based on factors such as acreage, production volumes, or adherence to sustainable farming practices.
• Crop Insurance Programs: Many countries have crop insurance schemes that provide financial protection to farmers against natural disasters, weather-related events, and other risks that can impact rice yields.
• Infrastructure Grants: Governments may provide grants or low-interest loans to help rice farmers invest in critical infrastructure, such as irrigation systems, storage facilities, and processing equipment.
• Research and Development Funding: Governments often support research and development initiatives aimed at improving rice cultivation techniques, developing new rice varieties, and enhancing overall productivity and sustainability.
• Tax Incentives: Certain tax credits, deductions, or exemptions may be available to rice farmers to encourage investment, expansion, or the adoption of eco-friendly farming practices.
• Stay up-to-date with the latest government policies and programs that may impact your rice farming business, as these can change over time.
• Collaborate with industry associations, agricultural extension services, or government agencies to identify and apply for relevant subsidies and incentives.
• Carefully evaluate the eligibility criteria, application process, and reporting requirements associated with each government program to ensure compliance and maximize the benefits.

By proactively exploring and leveraging government subsidies and incentives, you can enhance the financial viability of your rice farming business and increase your chances of success in the highly competitive agricultural market.

Analyze competition and differentiate your rice products

In the highly competitive rice farming industry, it's crucial to analyze your competition and find ways to differentiate your products. By understanding the market landscape and the unique value you can offer, you'll be able to position your Golden Harvest Rice Co. as a premium and sought-after brand.

Start by researching the major rice producers in your target market. Analyze their product offerings, pricing, marketing strategies, and any unique selling points. Identify the gaps in the market that your rice products can fill. Perhaps there's a demand for organic, non-GMO rice varieties, or a need for specialty rice types like aromatic or heirloom strains.

• Conduct a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis to gain a comprehensive understanding of your competitive position.
• Attend industry events, trade shows, or networking sessions to stay up-to-date on the latest trends and innovations in the rice farming sector.

Once you have a clear understanding of your competition, focus on developing a unique value proposition for your rice products. This could involve highlighting your commitment to sustainable farming practices, emphasizing the superior quality and taste of your rice, or offering a wider variety of specialty rice types.

To further differentiate your products, consider investing in branding and packaging. Create a visually appealing and memorable brand identity that resonates with your target customers. Utilize premium packaging materials, such as eco-friendly bags or jars, to convey the high-quality and artisanal nature of your rice.

Additionally, explore opportunities to collaborate with local chefs, food bloggers, or influencers to showcase the versatility and culinary applications of your rice. This can help build brand awareness and position your products as the preferred choice for discerning consumers.

By thoroughly analyzing the competition and developing a clear strategy to differentiate your rice products, you'll be well-positioned to capture a larger share of the market and establish Golden Harvest Rice Co. as a trusted and respected brand in the rice farming industry.

Establish relationships with potential suppliers and distributors

Establishing strong relationships with reliable suppliers and distributors is a crucial step in building a successful rice farming business. These partnerships can provide access to essential resources, secure distribution channels, and enhance the overall efficiency of your operations.

One of the key considerations when identifying potential suppliers is the quality and consistency of the rice seeds or seedlings. Seek out suppliers who can offer high-yielding, non-GMO, and disease-resistant rice varieties that align with your brand's commitment to sustainability and product excellence. According to industry reports, using premium quality rice seeds can increase yields by up to 20% compared to lower-grade alternatives.

In addition to seed suppliers, you'll need to establish relationships with providers of essential farming equipment, such as tractors, harvesters, and irrigation systems. Research shows that investing in modern, energy-efficient farming equipment can reduce operational costs by up to 15%. Seek out suppliers who can offer competitive pricing, reliable maintenance, and flexible financing options to support your capital expenditures.

• Conduct thorough due diligence on potential suppliers to ensure they align with your quality standards and business ethics.
• Negotiate favorable terms, such as volume discounts or extended payment schedules, to optimize your supply chain costs.
• Explore the possibility of establishing long-term, strategic partnerships with key suppliers to secure consistent access to critical resources.

Turning to the distribution side, it's essential to identify and cultivate relationships with reliable wholesalers, retailers, and online marketplaces that can effectively reach your target customers. Research indicates that businesses that leverage a multi-channel distribution strategy can increase their sales by up to 30% compared to those relying on a single sales channel.

When evaluating potential distribution partners, consider factors such as their market reach, customer base, logistics capabilities, and alignment with your brand values. Establish clear communication channels, negotiate favorable terms, and work collaboratively to ensure the seamless flow of your rice products to the end consumers.

Develop a Sustainable Cultivation and Harvesting Plan

Establishing a sustainable cultivation and harvesting plan is crucial for the long-term success of your rice farming business. This plan should outline the eco-friendly practices you will implement to ensure the efficient and responsible use of resources, while also maximizing your crop yields and quality.

One of the key aspects of sustainable rice farming is the selection of appropriate rice varieties. Research has shown that non-GMO and heritage rice cultivars not only have a lower environmental impact but also tend to be more flavorful and nutritious . By opting for these varieties, you can differentiate your products and cater to the growing demand for premium, health-conscious rice options among your target customers.

• Consider implementing organic or regenerative farming techniques, such as crop rotation, cover cropping, and reduced tillage, to improve soil health and reduce the need for synthetic fertilizers and pesticides.
• Explore the use of precision agriculture technologies, like GPS-guided equipment and soil moisture sensors, to optimize water and nutrient management, thereby enhancing resource efficiency and minimizing waste.

Effective water management is another crucial component of sustainable rice cultivation. Rice is a water-intensive crop, requiring an average of 2,500 liters of water to produce 1 kilogram of rice . To reduce your water footprint, consider implementing water-saving irrigation techniques, such as alternate wetting and drying (AWD) or the system of rice intensification (SRI).

Lastly, your harvesting and post-harvesting practices should be designed to minimize crop losses and ensure the quality and freshness of your rice products. Invest in high-quality harvesting equipment and implement proper drying, storage, and transportation methods to maintain the integrity of your rice . This will not only help you minimize waste but also enable you to deliver a consistently superior product to your customers.

By developing a comprehensive and sustainable cultivation and harvesting plan, you can position your rice farming business as a leader in the industry, committed to environmental stewardship and the production of premium, high-quality rice.

Outline a Marketing Strategy to Reach Target Customers

Developing an effective marketing strategy is crucial for the success of Golden Harvest Rice Co. in reaching its target audience and establishing a strong brand presence in the market. By leveraging a multi-channel approach, the company can effectively communicate its unique value proposition and connect with health-conscious consumers and food enthusiasts who seek premium rice varieties.

One key aspect of the marketing strategy is to focus on direct-to-consumer channels, such as an e-commerce platform and farmers' markets. This will allow Golden Harvest Rice Co. to build a direct relationship with its customers, gather valuable feedback, and ensure a consistent brand experience. According to industry data, 62% of consumers prefer to purchase specialty food products directly from the producer , highlighting the importance of this sales channel.

In addition to direct-to-consumer efforts, the company will explore strategic partnerships with local restaurants and specialty food retailers. By aligning with establishments that share a similar commitment to quality and sustainability, Golden Harvest Rice Co. can effectively reach its target audience and position its products as a premium choice. Research shows that 85% of consumers are willing to pay more for products that support local businesses , further emphasizing the potential of this marketing approach.

• Leverage social media platforms to showcase the company's sustainable farming practices and transparent sourcing, building a loyal following among health-conscious consumers.
• Participate in local food festivals and events to connect with the community, raise brand awareness, and gather valuable customer insights.
• Develop a comprehensive content marketing strategy, including recipe guides, educational blog posts, and video tutorials, to position the company as a trusted authority in the rice farming industry.

To further enhance the marketing strategy, Golden Harvest Rice Co. will explore opportunities to leverage government subsidies and incentives for eco-friendly agricultural practices. By highlighting its commitment to sustainable farming and emphasizing the environmental benefits of its products, the company can differentiate itself in the market and appeal to the growing segment of conscious consumers.

By implementing a multi-faceted marketing approach, Golden Harvest Rice Co. can effectively reach its target customers, build brand loyalty, and position its premium rice products as the preferred choice for health-conscious consumers and food enthusiasts.

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Bigasan business – guide for starting a rice retailing business.

If you are looking for a business that will guarantee a rewarding profit today, it would be anything that has to do with food. And for us here in the Philippines, a rice retailing business would be an excellent one.

Almost every Filipino cannot stand a day without eating rice, not only because it is our staple food, but because meals seem to be incomplete without it. Even those who are going on a diet can hardly let go of rice, and would go for replacing white rice with brown or red.

This only goes to show that you can never go wrong when it comes to choosing this business, and if you want to know more information on how you can get it started on putting a rice business, read some tips down below.

1. Secure an NFA license . Before you can even start selling rice, you need to secure a license from NFA or the National Food Authority. The application fee is only 100 pesos and you can process it at the NFA nearest your business. You will also be required to pay for a license fee but that will depend on your capital.

2. Get your equipment and facility ready. Prior to approval, an NFA investigator will be checking on your equipment and facility, and as soon as you get approved, you will have to register your business. With the registration, you will be required to submit your business name, mayor’s permit or the business permit, BIR TIN and your application to NFA.

Read also:  How to Start a Car wash Business in Philippines

3. Make sure you have enough capital. The capital you will be needing for a rice business is approximately between 60,000 to 100,000 pesos for a start. You will also have to decide if this business is just going to be sole proprietorship or it is going to be a corporation. Other things that you will have to consider and decide for is the type of rice you will be selling based on your market, and location. You also have to look for the supplier for this type of rice in your area.

4. Invest on storage and equipment. Rice spoil in just a matter of a few months so you have to make sure you have the right storage and keep your area clean and sanitized all the time.

Don’t forget to have a concrete rice business plan if you want to succeed with this kind of business.

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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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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.

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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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List of Rice cake shops in Omsk

Number of rice cake shops in omsk with email address, phone number, geocoded address,social media profiles and other key details for download., number of rice cake shops.

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How many Rice cake shops are there in Omsk ?

There are a total of 197 Rice cake shops in Omsk as of August 15, 2024 .

Number of Rice cake shops in Omsk with Phone Number

Number of Rice cake shops in Omsk with Email

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Data of Rice cake shops in Omsk with/without Website

Download the list of Rice cake shops in Omsk as of August 15, 2024 with and without website information.

Number of Rice cake shops in Omsk with website

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List of Rice cake shops in Omsk By Ratings

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