SEC-S20W1 | My Business Ideas | Ivorywhite Groceries and more

Welcome to my blog! I am glad to take part in this contest and excited to share my business ideas with dear friends and steemians. I am @udyliciouz a teacher and a business woman. Please see my article worthy of your time to read and leave useful tips and feedback.

Selfie in the shop

Question 1- Are you planning to start a business or already in business?

I am already in business and the business I am currently running now was not my first choice of business. The business that was my first choice was selling of fabrics and fragrances alongside my teaching job. I have been dealing with these two business for more than a year now. I usually go out buy fabrics and frangrances to my house and advertise it online and also to the people that I meet offline. I usually get a lot of patronised from it and I thought of opening a physical shop where I will merge this two products and sell. The change in business was as a result of not seeing a shop in a good location. I searched for shop in a location where the business will sell very well for over 6 months but was unsuccessful, I later changed my mind to selling of groceries where it moves in almost all locations because it is what people buy everyday and people cannot do without foodstuffs and and necessities.

Since this business is what sells in my area, I had no doubt starting it and believing that it is going to grow up if well managed and I can say that the business is growing day by day with God's grace and blessings, we are moving higher and higher.

Question 2- Keeping in mind that you can start your business alone or on a partnership basis, what is your idea of your business model?

As an entrepreneur who already had started a grocery business, my idea of business model is as follows;

Business Name: Ivorywhite Groceries and more

Mission and vision: Home of high quality groceries and foodstuffs at affordable prices, with good measurements and exceptional customer service and community involvement.

Major and Key Components of my business:

★ Physical Store: I have rented a convenient store for where I stay for customers and sell for walk in customers.
★Online store: I have a social media platform where I market my goods and any one who is interested chooses the ones him or her like and I will send it to that person irrespective of his or her Location in my country of residence.
★ Supply Chain: I have establish relationships
with wholesalers who supplies me goods in large quantities and some and with local farmers who usually deliver their eggs to me in the shops and well as drinks and table water producers.

★ Product available: I focus on products that is consumed on a daily basis and other essentials goods.

★ Pricing Strategy: I operate on competitive pricing making sure my goods are affordable
with regular promotions and weekly loyalty programs for customers who patronised more for the week.
★ Marketing Strategy: Like I mentioned earlier, I always advertise my product on line and on my social media handle. I also markets my goods to friends and neighbours making sure I reach as many customers as possible.

★ Business operation: At the moment I manage the business alone and I have plans to hire staff in the future as the business grows.
★ Financial management: I monitor the sales, expenses and profits closely, with a goal of expanding and having another location of mine operating the same business.

Planning for Growth :

1. I have plans to expand product offering n my shop by gradually adding more items to the available products.

2. I will like to increase how i market my business online by reaching out to as many social media as possible.

3. I am planning to hired an experienced person that will assist in the running and operation of business.

4. I will like to explore new locations for the business for the purpose of growth.

Question 3- Keeping in mind partnership businesses have both advantages and disadvantages, what is your idea of your business model?

As a solo entrepreneur that I am, my idea of a business model for my one person grocery business is like this;

Name of Business : Ivorywhite Groceries and more

Mission and Vision statement: Provider of convenient and high quality groceries foe people in my locality and beyond.

Key and main Components for the business:

1. I have rented a shop where there is high traffic so that I can have more patronage.
2. I choose high quality products for my customers and that always makes them to stop by again and again.
3. At the moment, I dont have staff to minimise labour cost but when the business grow bigger and bigger, I will higher one.
4. I am also planning to create a basic website for my business where people will have to login
   and place orders not untill I posted them.
5. I sell my goods at a good and affordable prices.
6. I am planning to create flyers to distribute to local buyers.
7. I am gradually adding more products based on customers demands.

Question 4- You are in a business now and doing well; let's know what your plans are and what efforts you are making to expand your business for the long term. Will you do it on your own or hire professionals?

Well as a successful grocery business owner I have a lot of long-term plans plans for my business and these includes;

Expanding the business :

1.Currently I am planning to open another shop on a high traffic locations.

1. Create a a delivery services for my online customers without me having to be involved in the delivery processes.
2. Planning to Collaborate with local farmers and producers where I can get fresh foods, veggies and eggs from them in a larger quantities.
3. I will higher experience storekeeper who will be available in the shop at all times while I go on other aspects of the business.
4. Since I am looking at expansions and hiring workers, I will create an inventory management software and payment records that will keep track of all the sales in the store.
5. I will work hard to develop a brand identity and target big customers.
6. I will have to partner with accounting firm to help in the management of funds.

With the above plans I have and working hard to execute them, I strongly believe my business will past a test of time and be successful with many branches of Ivorywhite Groceries and more.

I am inviting @manuelhooks, @eliany and @goodybest to participate in this engagement challenge contest.