. Conduct market research
There are a few things you should be aware of and take into account before you contemplate getting into the shawarma industry. They include:
- The location: Selecting a somewhat busy location for your shawarma company is crucial. The best location will be one with plenty of foot traffic. It may be a popular grocery store, church, school, or bar, or it might be a business district with plenty of offices. If possible, find somewhere that there is no competition nearby.
- Target market: To whom are you selling shawarmas? Before you start up, you should think about your target market since it will tell you precisely where you need to be. It is not feasible for you to open shawarma stand in a low-income or rural location since not everyone can afford the luxury of purchasing shawarma. It is important to think about the sort of customers you want to serve and make sure they are either locals or employed in the region where you want to start your business. Your target market’s ability to purchase is a must for your success, so identify them and make sure they can.
- Your competitors: Since the shawarma industry is so profitable, there are a lot of individuals in it; thus, these people are your competition. You must research their companies to find out what they are doing well and poorly so that you may emulate them in your enterprise and remain competitive. This implies that to determine how to best enhance your service and product, you will need to go to your rivals’ booths and purchase or sample their shawarmas. You will sell more if your goods and services are of higher quality. Entering the market with a product that surpasses the best available at the moment is the main goal.
- Capital: You will need to invest a considerable amount when starting a shawarma business. You will need to pay for the location, equipment, ingredients, and any employee you may have. Around ₦300,000 to ₦1,000,000 to start your business.
- Selling price and profit: Shawarma is very profitable. You will get at least double your investment in ingredients when you sell. The key is setting your price similar to the prices of your competitors and making sure yours is of a higher quality.
