And for us here in the Philippines, a rice retailing business would be an excellent one.
Do you need a sample rice retail store business plan template? If YES, then i advice nfa rice business plan read on. Rice is the most consumed staple food in the whole world. This shows that any rice related business anybody invests in; whether rice farming, rice hulling service, or wholesale distribution of rice will definite have a ready market for the product or services.
I will focus on rice distribution business in this article including why you need to start a distribution business and how to get started and become a big time wholesale distributor of rice. As a wholesale distributor, your duty is to serve as a distribution link from the rice farmers to the retailers.
Most retailers do not have the capital required to purchase in bulk quantities from the rice farmers. It is the wholesaler or distributor that will buy in large quantities and sell in smaller bulks to the retailers; so the service of a distributor is needed in order to get the rice to its needed locations.
With the rate rice is consumed around the world, getting retailers to supply to will not be a problem at all. This should preferably be a rice farm because as the wholesale distributor, you need to buy from a source where you can get the rice in very large quantity and at the cheapest possible rate, so that you can still make profits after spending for the logistics involved in getting the rice from the supplier to the retailers.
To become a wholesale distributor, you need to buy in very large quantity from the rice farmers and sell in smaller bits to the retailers; so starting a rice distribution business requires much capital. The only exception is if you have a mutual understanding and agreement with the farmers where they supply you the goods on credit sales, you sale to the retailers and pay them off as soon as you are done with the sales.
As the distributor, you may have to be in charge of transporting the rice from the rice farm to your warehouse or delivery to customers when orders are placed.
You may need to get few trucks to handle the distribution process or you can strike an agreement with a logistic company to take care of the transportation process. With these four factors in place you are now set to start your distribution business. The next subsection will be on how to start a rice distribution business.
This Series 3 study guide includes Series 3 practice test questions. Our Series 3 study guide contains easy-to-read essential summaries that highlight the key areas of the Series 3 test. Mometrix's Series 3 test study guide reviews the most important components of the Series 3 exam. Your "Rice Portal" to the Worldwide Rice Industry. RiceOnline is the premier web portal for the most comprehensive rice information from the worldwide rice industry. Planning to start a business by selling rice? You too can start a rice dealership by registering with the Department of Trade and Industry(DTI) for a single proprietorship, the Securities and Exchange Commissions(SEC) for a partnership or a corporation, or to the Cooperative Union of the Philippines if you are a member of a cooperative.
Carry out Feasibility Study -: In as much as any rice business have an available market, you still need to conduct a feasibility study on the demand of rice in your location. You need to find out if there are retailers who are available to buy your rice produce and how fast they sell out to consumers.
This will help you have an idea of the market you have in your location; though you are not subjected to a particular location as a distributor because you should be able to distribute fast and wide within and outside your country wherever there is demand for your produce.
You may be required to get some sort of license in order to operate as a wholesale distributor in some states. Find out the license and other legal formalities applicable to your state and get them.
When you get the produce, you can choose to repack them to become your own brand. The branding may involve packing the rice in personalized sacks. Promote Your Products to Retailers Around -: At this stage, you are done with the licensing, supply and branding, its time to find retailers and promote your product to them.
You can also offer to give some percentage discount for any distributor that will order a certain number of bags, or that can refer other distributors to buy from you.Lastly, you will need to put up a signboard that is 45 cm wide and 75 in length that shows the business name, the NFA control number, and the words “Licensed Grains Retailer” or “Wholesaler” to complete your legal requirements for selling rice.
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Lastly, you will need to put up a signboard that is 45 cm wide and 75 in length that shows the business name, the NFA control number, and the words “Licensed Grains Retailer” or “Wholesaler” to complete your legal requirements for selling rice.
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RiceOnline is the premier web portal for the most comprehensive rice information from the worldwide rice industry.