(Market Analysis/ Description/Overview)

Business plan on rice retailing

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.
According to (Guansi,2018) he had proposed project location, there are more than fifteen
establishments engaged in rice retailing and most of them are categorized under micro and small
business enterprises. The said establishments include those owners of sari – sari stores, mini –
groceries and consumer cooperatives. Although proposed business is quite relative with some of
the existing enterprises, marketing procedures and strategies carry a big difference.
In an analysis of Mercy Lurton Rice Store, LLC will generate income by selling retailing
short-grain rice, medium-grain rice and long-grain rice (both in organic and non – organic form)
from different rice production brands. They have been able to critically examine the rice retail
stores industry and have analyzed their chances in the industry and 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.
According to their statistics, the 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.
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 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.