Here it is! Tips for Success in Opening a Staple Food Stall with 5 Million Capital

In the midst of this ongoing pandemic, opening a food stall business might be an alternative for additional income for you. When viewed from the business risk, opening a food stall business is also suitable for those of you who are beginners in doing business. As a start, open a simple basic food stall with the required capital of no more than IDR 5 million as will be discussed in the following article.

This time, the BFI Finance team will provide tips so that starting a food stall business with a capital of 5 million can run smoothly and we provide a detailed range of costs required. Let's find out together!

Tips for Success in Opening a Staple Food Stall with 5 Million Capital

1. Determine the Place and Location of the Grocery Store

For starters, you don't need to occupy a large grocery store. You can use the vacant land in your house as a place to sell groceries. As the basic food business grows, you can think about expanding your area of ​​selling groceries. If you do not have vacant land as a place to sell, you can rent land or shop houses at affordable rental costs. Don't forget to consider the location of your food stall, whether it's a strategic area or not.

2. Making Details of Staple Food Stall Business Capital (Equipment and Products)

Make a breakdown of the basic food stall business capital into three parts, namely the cost of equipment and equipment and the cost of the basic food stall product.

What is taken into account in the cost of equipment and equipment is the procurement of shelves to put basic food materials, scales, tables, chairs, and others.

At least basic food stalls sell basic ingredients such as rice, eggs, oil, wheat flour, and others. These items can be considered as ingredients for basic food products.

The detailed range of costs required to open a basic food stall with a capital of 5 million is at the bottom.

3. Looking for a First-Hand Supplier

After you describe your product needs and business location, then you can choose a trusted supplier as your basic food product provider. The tip is to get a supplier firsthand. Getting a product supplier first-hand greatly reduces the cost of buying raw materials/products. Usually, when the product we want is in second or third hands, the price has gone up many times over. The slightest price difference can affect the purchasing power of customers.

In addition, you can also negotiate with suppliers regarding the system and payment period. You can apply for a payment system with a maturity of 7 or 14 days or according to mutual agreement. A number of suppliers also provide a point-of-sale system to a number of food stalls. The owner of the basic food stall will only pay for the goods if the supplier's goods are sold by the consumer. Everything can be negotiated with the supplier.

4. Perform Competitor Analysis

The number of players in the basic food industry is quite high. Because again, products sold through food stalls are a primary need. Then, one of the factors that determine the product is in demand is the price. Generally, the price difference between players in the basic food industry is not too high.

You can also consider holding promos to attract new customers and maintain customer loyalty. For example, buy 2 get 1 free or get a 50% discount on the second product purchase, and so on.

5. Make Neat Books

It is important to keep a regular and neat record of every expenditure and income of a basic food stall. If this is not paid attention to, it will have an impact on the allocation of other payment items such as bill payments to suppliers. In addition, neatness in keeping records is useful to avoid business or operational capital being used for personal purposes.

Details of the Cost of Opening a Basic Food Stall with a Capital of 5 Million

Below is the range of costs incurred as initial business capital to open a food stall:

Equipment and Equipment

Grocery Products

So the capital needed to open a basic food stall is Rp. 4,911,000.

Those are the tips and details of the costs needed to open a basic food stall with a capital of under 5 million. Of course, these costs can change according to your planned needs. If you need funds to open a food stall, you can apply for a loan through BFI Finance by guaranteeing the BPKB for motorbikes, cars, or house certificates. You can also have the opportunity to get cashback worth a maximum of Rp. 1,500,000 for every online loan application through the BFI Finance website. This promo lasts until the end of July 2022. Don't miss it! Other information and conditions related to loan applications through BFI Finance can be accessed at the link below.

Information on Application for BPKB Motor Guarantee Loans

Information on Application for Car BPKB Guarantee Loans

Information on Application for Home Certificate Guarantee Loans

So, are you ready for opening this food stall business?