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Expanding your sari-sari store is a huge step in your negosyo journey. Branching out to a larger market requires strategy, additional resources, and funding. Growing your business or investing in a new venture always comes with a certain amount of risk, but with proper planning, your business expansion could be a game-changer for you and your revenue. As a trusted negosyo partner, Condura aims to help small business owners by sharing information on how to manage their business and teaching the correct strategies to ensure that their expansion will not lead to disappointments and frustrations. Using the income from your sari-sari store and putting it towards a new business venture is a valuable investment that, if managed properly, can be a sustainable source of profit for you.
If you do decide to grow your sari-sari store, start small and don’t jump on a massive expansion right away. Try adding a few things on your inventory first like selling prepaid electronic load or seasonal items like ice candy during the summer and school items sometime in May before classes start in June. If your sari-sari store is located in a town plaza or near a bus or jeepney terminal, selling umbrellas or slippers during the rainy season can be a great way to pull in more sales.
If you want to grow your store into a convenience store-type or a mini-grocery, make sure that you have the space to do so or scout a bigger location and do some research on the new place if there are similar types of stores nearby or is there a large volume of foot traffic within the area?
If you want to offer new services and target different customers, try investing in other small businesses. For instance, if you are located in a residential area or a subdivision, investing in a water refilling station to cater to residents could be a great way of expanding your business. If you are located near a school, hospital, church, the famed carinderia is a viable option. Just like sari-sari stores, carinderias are also a staple in the Filipino culture. One business that witnessed an increasing boom over recent years is coin laundry shops. Another option is to go the technology route and apply for your store to accept utility payments like Meralco, Maynilad, or Manila Water. Apply to become an accredited remittance partner if you have a margin of customers that are spouses or family members of OFWs and are usually getting inward remittances. Remember that people tend to pay for the convenience of your services so make sure that you also prioritize customer experience when expanding your business.
Who says that you have to abandon your sari-sari store once you’ve expanded your negosyo journey? Filipino consumers love one-stop-shops and if you can offer a variety of products and services then it’s a win-win situation for you and your customers. If you went ahead with your carinderia business, try selling some food items in your carinderia like chips, or soft drinks, and canned juices. If you like to bake, try selling your baked goods as well. Putting up a small sari-sari store within your coin laundry shop is a good way to earn because coin laundry shop customers are left with no choice but to stick around and wait for their laundry. Try selling chips and coffee so waiting customers can eat something while doing laundry. Offering free Wi-Fi can also drive your customers to your laundry shop because this means that your customers can multitask— check social media, read or watch videos while doing laundry. A sari-sari store is a good source of income especially for housewives and small business owners. If managed well, it can bring in a significant amount of profit that can be used for expansion. So before you expand drastically, measure what works for you, and refine your approach as you go.
A growing business would eventually beg the question if you need to upgrade your appliances. The simple answer is yes. With business expansion comes the need for bigger storage and a more durable refrigerator to store your merchandise. Condura recognizes that a refrigerator is a valuable investment for any small business owner and their Negosyo Pro line offers a variety of ref and freezers that suit your business and is energy efficient. The Negosyo Inverter Pro for example is perfect for sari-sari store owners that plan to sell seasonal items like ice cream and ice candy during the summer. It can fit up to 20 ice cream tubs and can store more soft drinks and juices with bigger bottle racks. The Negosyo No Frost Inverter Pro is also another option with its two-rack freezer for more storage. If you want to sell Christmas staples like hamon and keso de bola, this ref is a good fit for you. Condura prides itself on a 10-year warranty on refrigerator compressors, a 3-year warranty on inverters, and a 1-year warranty on parts and services. Carinderia owners might want to check the Negosyo Pro Beverage Cooler for your soft drinks, bottled water, and canned juices to display in your carinderia. This cooler comes with a lock and key system, which makes it a reliable choice for business owners. It also has an auto-defrost system and a power cool system. It can store up to 336 soda cans and has more wire shelves for a more organized display. There are many ways for you to expand your sari-sari store business. You just have to take your time to do some research on what is feasible and manageable for you. Take the time to consider all factors and weigh pros and cons for your negosyo before you decide on expanding your business.