Every Filipino at least once in his lifetime had the earliest experience of running errands to the “tindahan” for “suka” (vinegar) or “toyo” (soy sauce) when “Nanay” is cooking food. The sari-sari store has been part of every Filipino household and more often than not, in the Philippines, you will definitely find one just around the corner near your home.
Neighborhood stores or sari-sari stores are very popular because you can buy a few pieces of what you need whereas in grocery stores and supermarkets, you should buy by the pack. And sometimes, you can’t choose what you want in the pack.
Here are some helpful tips on how to start a sari- sari with small capital;
1. Decide the location of your sari-sari store. It is very common for returning OFWs and present OFWs to have their sari-sari store built within their homes or very near so it can be managed easily. It should be easily spotted by consumers.
2. You don’t need to spend so much in building your sari-sari store. You may just make some adjustments in your present home to make some space for your store.
3. Choose a trusted family member to help you manage the store. Someone who will take care of the store and its earnings.
4. You may start with non-perishable goods, the usual goods offered in sari-sari store. You may also include some common school and office supplies that are necessary for students, including cellphone load.
5. Find reliable and trusted suppliers. You can compare prices and choose the lowest price and most reliable service.
6. Give reasonable prices on your goods so that customers will come to your store more often.
7. Be updated with the latest prices from other stores and groceries.
8. As your business progresses, observe which good are saleable and which are not.
9. As much as possible discourage credit or “Pa-utang” most especially for those people who have no intention of paying soon.
10. For profits from the sari- sari store, put them in a separate bank account. Use the money strictly as revolving capital only. In this way, you will not lose having mobilization funds.
Although the tips above on how to start a sari-sari store seems easy to follow, but the facts is, it requires a lot of hardwork and patience to make it happen and remain in operation.