rice business plan philippines

Bigasan Business 2023: How To Start, Capital, Profit (Plus, Tips To Succeed)

Rice has been a staple of the Filipino diet since time immemorial . Therefore, opening a bigasan business or a rice retail business in the Philippines can be a profitable venture for you if the conditions are right.

As with any other food business, there are two ways to make this happen. Either start your own rice retailing business or franchise an already-established brand .

Each has pros and cons, so you should weigh your options carefully before venturing into this type of business.

Let this short article be your guide.

Table of Contents

What is a bigasan or rice retail business.

A bigasan is a retail store that sells a variety of rice. In the Philippines, this is typically done through a simple storefront where bags of rice are opened as a display for customers. The name of the variety of rice and the corresponding price are shown on each bag.

Customers need only tell the store’s staff what variety and how much rice they buy. The staff will then put the requested amount in a bag and weigh it before the customer. After the customer pays for it, then the transaction is complete.

There are specialized rice businesses that sell only rice, but there are also retail outlets, such as sari-sari stores , that carry rice as part of their selection of products.

Bigasan Business at a Glance

How much capital you need to start a bigasan business depends on your business model. Capital investment may start from ₱50,000 (retailer) to ₱300,000 (franchise).

2. Customers

Residences, restaurants, hotels, and other establishments that sell rice meals.

3. Competitors

Usually, just other rice businesses. The supermarkets have a different client base since rice from supermarkets is usually at least 50% more expensive.

4. Who Is It For?

People who prefer to run a simple retail store with an already established market.

5. Pros & Cons

• Steady demand since Filipinos eat rice every day
• It requires minimal marketing because consumers are already familiar with the product
• Straightforward business with the potential to make a living out of it
• Rice is vulnerable to pest attacks, especially if stored improperly
• The quality of rice deteriorates after three months; it spoils easily
• Challenging to be different from competitors aside from the price

How Does a Bigasan or Rice Business Make Money?

Rice businesses typically buy their rice bags from a wholesaler. They then add a markup or “patong” to the cost of the rice. After that, they decide the price per kilogram to sell the rice to their customers. Whatever they earn from selling the rice becomes the income from the rice business.

Note that having a sizable margin is challenging unless you buy in bulk. That’s why it’s typical for a rice business to have a high capital requirement.

Where Can I Find a Rice Supplier?

If you are not getting a franchise, you must find a rice supplier yourself. This could be a wholesaler, a rice mill, or a farmer. You are more likely to know the best places to get rice if you search your area. However, here’s a quick list of well-known rice suppliers in the Philippines:

• DanJethro Grains by A&V Rice Mill – an independent rice mill in Mapandan, Pangasinan, operating since 1993.
• Wil-Lys Cereal Trading Corporation – located in Solana, Cagayan. They sell many varieties, including export-quality rice.
• JDL Nueva Ecija Rice Dealer – also known as Jorem Palay Buying Station, this supplier has been selling farm-fresh rice from Lupao, Nueva Ecija, for 30+ years.
• Primavera Rice Mills – selling quality rice for 46+ years now; among the top rice suppliers for restaurants and fast-food chains in Metro Manila. They are located in Guiguinto, Bulacan .
• RMR Rice Mill – is a popular wholesaler among rice retailers. They are located at Wakas Intercity, an agricultural bagsakan , in Bocaue, Bulacan.

If there is no viable rice supplier in your area, you may want to look for a franchise instead. Here’s a quick list of rice retail franchises you can contact:

• GRAINSMART – has more than 800 franchise branches nationwide. Aside from rice, they also have gas and water refilling business franchise packages. Their head office is located in Quezon City, Metro Manila.

Update: Bigasanko.com has been removed from the list due to an inactive social media page.

How To Start a Bigasan Business in the Philippines: 9 Steps

1. research your market and competitors.

You can’t expect to start a bigasan or rice retail business and succeed right away. You first need to know about your area’s potential customers and competitors.

Find out the typical kinds of rice people in your area buy. How much do they pay for it? If you do start a rice business, then can you also sell it at the same or a cheaper price?

Next, you need to learn any information you can about your competitors. How many are there, and where are they located? If there are too many rice retailers, you may want to rethink starting one yourself.

2. Choose a Location Frequented by Your Target Market

Find a location where it’s convenient for your customers to buy from you. Examples would be groceries or wet markets ( “palengkes” ) where people are already conditioned to buy rice.

You also have to ensure enough space to store and display the sacks of rice in your chosen location. It’s also ideal that you can keep the rice there safely so the product will be protected from heat, pests, and even floods.

3. Choose the Right Rice Supplier

With your research in hand, you now have to find a supplier for the rice typically bought in your area.

You have the option to:

• Find a wholesaler or rice mill that can deliver to your area
• Become a rice business franchisee

List all available suppliers and cultivate a long-term relationship with them. This way, you can avail of discounts when buying in bulk and provide your customers with a wide variety of rice.

Your goal is to get a price to remain competitive in your area. If you can find an excellent supplier, starting a rice retail business will be much cheaper than becoming a franchisee.

However, becoming a rice business franchisee has benefits that justify the additional cost. They already have an established way of getting a rice supply, so getting started’s much easier. You can also learn how to run a successful bigasan from them.

4. Secure a License From the National Food Authority (NFA)

Once confident that you can successfully run a rice retail business in your chosen area, you must start with government compliance .

The law states that the National Food Authority (NFA) must approve every corn or rice business in the Philippines, whether commercial or NFA rice/corn.

If you plan to open numerous outlets, you need one license for your primary/principal store. All other outlets will be considered as branches.

To get the license, go to the NFA office that has jurisdiction over where you plan to establish the rice business in the Philippines.

Get the application form from the licensing officer (LO).

Submit the accomplished form and pay the application fee of ₱100. The license fee varies depending on your capital.

5. Ensure That You Have the Required Equipment and Facility To Start the Rice Business

An NFA personnel will personally visit your store to check for the following:

• Calibrated weighing scale
• Price tags (the price of the rice per kilogram)
• White-painted rice boxes
• Signboard (45 cm wide and 75 in long) showing your business name, NFA control number, and the words “Licensed Grains Retailer” or “Wholesaler”
• Classification, variety, and grade of the rice grains you’re going to sell

Once approved, the NFA inspector will issue you a notice of inspection. Bring this with the official receipt and proof of compliance with deficiencies (if any) to the NFA office to get the license.

For franchisees of Grainsmart , you don’t need to file for a license because it’s already included in their packages. The downside is that you need to shell out higher capital to start the franchise business –a minimum of ₱298,000 for Grainsmart.

6. Register Your Business

Register the bigasan business with the Department of Trade and Industry (DTI) if you’ll operate it as a sole proprietorship or the  Securities and Exchange Commissions (SEC) for rice businesses run by a partnership or corporation.

You must also register with the BIR and get a business permit from your municipal or city hall. After that, your business registration is complete. Just note that you must file monthly, quarterly, and annual taxes . You also have to pay fees to your LGU quarterly or annually.

7. Set Up Your Bigasan & Store Your Rice Properly

Taking care of your rice starts from the supplier and ends only when your customers buy it. When transporting rice, separate it from other goods and make sure they’re all appropriately covered. 

Otherwise, prolonged sun exposure will cause the rice to lose moisture and shrink by up to 3%. The insufficient covering may also expose it to flying weevils ( bukbok ), especially if the transport vehicle passes by rice fields.

Once it arrives at your store, handle it with care. Don’t throw the rice bags, or the grains might break.

Keep the storage space clean and sanitized to prevent infestation of rats, molds, weevils ( bukbok ), and other pests.

Use the “first-in, first-out” inventory method to ensure that every sack of rice sold is high-quality and doesn’t exceed its shelf life. Remember, rice quality decreases significantly after three months. Any rice that spoils will dramatically impact the profitability of your rice business.

8. Promote Your Bigasan

You should know what’s essential for your customers when choosing a bigasan. Communicate that you can deliver that critical benefit.

You can be as creative as possible when promoting your bigasan locally and online. Talk to your neighbors—partner with other businesses. Join chat groups for the local community. 

There are many ways to promote a bigasan business. As long as your target customers are there, you should also promote there.

9. Be Strict With Your Inventory & Records

A common reason why a rice retail business might fail is because of poor inventory and record management. A few kilograms of lost or damaged rice can wipe out more than a day’s worth of your income.

So make sure to be very strict in taking care of your inventory. You should also record everything that goes in and out of your store. 

If you don’t know how to do your records correctly, you can use the template for the sari-sari store inventory and sales record provided here . It’s the same concept, but you only have to list down your rice’s different varieties, brands, and weights.

Tips & Warnings

• Set aside a regular budget for the rice supply. Some dealers won’t deliver rice to retailers unless they order a minimum amount of rice from them.
• Try to avoid selling any rice on credit, especially for residential clients. It might be unavoidable for business clients; however, deal only with reputable businesses. Bad debts can severely impact your operations.

Go back to the main article: Best Small Business Ideas in the Philippines with High Profit 

Written by Rod Michael Perez

in Business and Finance , Juander How

Last Updated June 4, 2023 09:21 PM

Rod Michael Perez

Rod Michael Perez is a freelance writer with over 7 years of experience in writing long-form articles, ad copy, and SEO content for local and foreign clients. He is also an aspiring startup founder and believes that the Philippines could be the next hub for startup culture. He takes care of his dog, a poodle-Shih Tzu hybrid, in his spare time.

Browse all articles written by Rod Michael Perez

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How to Start a Bigasan / Rice Retailing Business in Philippines

We, Filipinos, are big fans of rice. We could even go so far as to say that rice is one of the most important foods in our daily diet. It’s cheap, easy to cook and eating it with some meat or fish makes a complete meal. We love it so much that most, if not all, eat rice three times a day! This is a very good point as to why setting up a bigasan or rice retailing business in our country is a very profitable venture.

In this guide, we share with you the basics, steps, and some tips on how to set up and run a successful rice retailing business. Keep on reading to learn how to get started.

Table of Contents

What Is a Bigasan or Rice Retail Business?

A bigasan is a type of retail store that sells various types of rice. In the Philippines, this type of store is usually carried out in a simple storefront. The name of the different varieties and their corresponding prices are displayed on the bags.

In order to complete the transaction, customers must provide the store’s staff with the requested amount of rice. The staff will then weigh it and place it in a bag for the customer to pay for.

Although there are specialized stores that only sell rice, there are also other outlets that carry rice. These include sari-sari stores.

Bigasan Business Components

Of course, a bigasan, just like any other business, requires certain components to function. These components are interrelated and cannot be separated from each other. For example, the business needs to have a product or service to sell to customers. It also needs a place where its customers can purchase these items—a storefront or online store. Here are some of which you need to familiarize yourselves with:

The amount of capital you need to start a bigasan business depends on your business model. You can begin a retail operation with as little as PHP 50,000, while franchising may require an initial investment of up to PHP 300,000.

If you’re not yet sure which business model is ideal for you, don’t worry! We’ll also touch on that as we go along.

2. Customers

Bigasan customers include residences, restaurants, hotels, and other establishments that sell rice meals.

Finding customers for this kind of business is not that hard since you’re selling a food product, and in our country, rice meals are a staple.

But if you’re wondering what a good way to reach your customers and grow your business is to approach establishments that sell rice meals and propose a partnership. As an alternative, you can also go online and use social media to reach out to potential customers.

3. Competitors

Your competitors are other rice wholesalers. Supermarkets have a different client base since they sell rice at least 50% more expensive than you do.

Again, don’t be scared about the competition. You just have to find a place where there’s a strong market, but not enough suppliers. And from there, just ensure that you deliver high-quality products at a good price, and your business should thrive.

4. Who should start a Bigasan business?

A Bigasan business can be started by anyone who wants to be their own boss, but prefers a low-maintenance retail store with an established customer base. That, in itself, is a great advantage for anyone, especially OFWs, who are looking to start a business but are not quite sure about their choice of industry. Furthermore, Bigasan is also a good business for anyone who wants to provide for their family and earn a steady income without working long hours in an office.

Pros and Cons of this Business

There’s a steady demand for rice since most Filipinos eat rice every day. As such, you’ll have to do very little marketing to get customers. Rice is also one of the cheapest food items available in the country—meaning it can generate profits that can sustain your business!

On the other hand, rice is vulnerable to pests if stored improperly, and its quality deteriorates over time. It’s also difficult for rice sellers to differentiate themselves from competitors other than by offering lower prices.

That being said, there is no perfect business, but what’s important is that you find one that meets your needs and fits in with your lifestyle.

How Does a Bigasan or Rice Business Make Money?

When a rice business purchases its bags from a wholesaler, it adds a “patong” or a “markup” to the cost of the product. After that, the business decides on the price that it will sell to its customers. The profit from selling the rice goes to the rice business.

It is typically hard to have a large margin unless you buy in bulk. This is the reason why a rice business with a high capital requirement usually has difficulty operating.

As to how much you can earn from this business, this will depend on the type of rice you sell and how much you charge for it. The price is determined by the supply and demand in your area, as well as by the quality of your product.

What You Need to Get Started with Your Bigasan Business

So you’ve already looked into the pros and cons of this business and have decided to start your own rice business. What are the things you need to have? Take note of the following:

1. Secure an NFA License

To start a rice business, you need a National Food Authority (NFA) license. The law states that every rice business must be approved by the NFA first.

But don’t worry—you can get an NFA license by filling out an application form at the NFA office in your area, paying the P100 application fee and submitting it along with other requirements like a business plan and inventory list.

The NFA will review your application and approve or deny it within 30 days.

2. Register Your Business

Next, you’ll need to register your business. There are three types of entities you can register with: sole proprietorship, partnership or a corporation.

For sole proprietorships, register with the Department of Trade and Industry (DTI).

For partnerships and corporations, register with the Securities and Exchange Commission (SEC). You can find more information at those offices or online.

3. Pick a Good Location

One of the most important factors that you need to consider when it comes to starting a rice dealer business is the location. Having a bigasan business is very important, as it will allow you to attract many people who go to the market every day. You can also start a rice business in rural areas or downstream regions.

If there’s a high demand for rice, you can start a rice dealer business in a place where there’s a lot of demand. This can be done if you’re the only one selling at a certain area or street.

4. Invest In Proper Storage For Rice

Rice spoils quickly and will deteriorate within three months. The best way to prevent it from going bad is to use the “first-in, first-out” (FIFO) method, which ensures that sacks of rice are used in order from oldest to newest.

Pests like bukbok (weevils) are rice’s worst enemy. To prevent infestation, you should always clean and sanitize your storage area.

5. Prepare Your Capital

You must have money to start a business. The question is how much capital do you need? With a bigasan business, you can adjust your budget to cover your expenses.

You can spend as much money as you want, or start small with as little as you can. For instance, you can have a bigasan store for just P60,000.

Before you start a bigasan business, it’s important that you take into account the various expenses that will be involved in running it.

6. Source the right equipment

As we mentioned, rice can spoil easily and so you need to have a space where you can keep it. This is why the National Food Authority requires that all rice traders have an equipment such as weighing scale, rice boxes and signboard (45cm wide x 75cm long).

Price tags that show the price per kilogram of each variety are also needed so customers will know how much they have to pay for each kind before they buy it.

7. Find suppliers

Next, you need to find out where to buy your rice from. You can ask around or do your research on the internet. Then, try to negotiate with each supplier so that you can get the best deals for all of them. Select the best suppliers, but don’t neglect the others; you may need them later too.

8. Identify your target market

In addition to thinking about your location, you also need to consider who your target customers are. These are the people who will be the majority of your customers, so it’s important to get this step right. You could target people who frequent palengkes or even just your neighbors or those near your barangay. Then, you just need to market to them!

9. Offer deliveries, especially during the pandemic

One of the most important factors you should consider when it comes to your bigasan business is accessibility. Since the pandemic started, most people can’t go outside to buy rice. You can provide a delivery service similar to what a water refilling station does.

This offer is only good if an individual orders a 50-kilo bag or one cavan of rice. Otherwise, it would be too expensive for you. You can also charge a flat fee for delivery.

10. To Franchise or Not

Today, there are many types of businesses that offer franchises. These include hotels, fast food restaurants and grocery stores, among others.

For new business owners, franchises are a great way to get started since they already have brand recognition, products and marketing in place.

Retail or Wholesale Rice Selling

You can start a rice dealer business if you plan on selling the product. You can register with the DTI or SEC for a single proprietorship, a corporation, or a partnership. You can also join a cooperative to start a business.

To start a rice dealer business, you must secure a license from the NFA. This government agency makes sure that you have the necessary equipment, such as a storage area and calibrated weighing scales. You also need to produce a green signboard that has your name and the control number of the NFA. It must contain a seal and your license’s renewal every year.

The minimum investment that you need to make to start a rice dealer business is about PHP30,000. Since this is a staple food for Filipinos, potential buyers are already there. There are several rice dealership business tips that you can learn.

Tips for Starting Your Bigasan Business

Here are some tips to ensure that you’re not missing anything and your bigasan business is all set to go:

1. Make sure that your space is clean and tidy. This will make customers feel comfortable and safe when buying rice from you.

2. Have a good supply of bigas in case many buyers want to buy at the same time.

3. Learn how to properly pack the rice and make sure that it is tightly sealed.

4. Choose quality bigas so that you can earn good money from your customers

5. Make sure that your prices are reasonable so that buyers can afford them

6. Be polite, courteous and friendly when talking with customers. Do not be rude or appear uninterested when a customer asks questions about the rice or your business.

7. Test the quality of the rice before selling it by cooking some and tasting it. If there are any problems with the taste, do not sell it until you have addressed them.

8. Make sure that you have enough change for your customers.

9. Have a sign that says “Bigasan for Sale” outside of your stall so that customers will know where to find you

10. Do not sell too much of the rice to one customer because this could cause problems with other buyers who want to purchase some as well.

11. While transporting rice, make sure that you use good quality rice bags.

Frequently Asked Questions

1. is bigasan business profitable.

Rice is a staple food in our country, and it is a profitable business for retailers. There are various types of rice that people can choose from, such as long grained, aromatic, white, and glutinous. These are the preferred ones for daily meals, as well as native sweets.

2. How Much Capital Is Required To Start A Rice Business In The Philippines?

For franchises and retailers, the required capital is 50,000 and 250,000, respectively. This is for people who want to sell products that have an existing market.

3. How to boost your Bigasan business?

Small discounts can be a great boost to your bigasan business as your customers will most likely refer you to their friends. Also, some suppliers will require retailers to have a certain amount of rice in order to supply them.

4. What is the first in first out method?

One of the most important factors that you should consider when it comes to keeping your rice products fresh and high-quality is using the “first-in, first-out” method.

This method ensures that the rice doesn’t go beyond its shelf life. In addition, you should regularly clean and disinfect your storage area to prevent pests from wreaking their effects.

5. How to get discounts on rice?

You can make a list of the local rice suppliers in your area and connect with them. Having a good relationship with them will allow you to receive better prices.

6. Why is it important to put a portion of the budget for rice?

Having a portion of the budget allocated for rice can help prevent problems with suppliers.

7. What do you need to register a bigasan business with?

Individuals who are sole proprietors or are operating as a corporation or partnership are required to file documents with the DTI and SEC.

8. Why is offering a wide selection important for a bigasan business?

Providing a wide variety of products and services makes it easier for customers to do business with you.

Final Thoughts

Starting a bigasan business in the Philippines is a great way to become your own boss, build a profitable business, and make a positive impact in the community. It is an affordable way to get into business that has a long history of success in the country.

As a business, you can provide a valuable service to the people of the Philippines and become an important part of their lives. With the right marketing and business strategy, a bigasan business can be a successful and profitable venture. So why wait any longer? Start your own bigasan business today and make a difference in the lives of many.

We hope this guide has helped you better understand what a bigasan is, how it works in the Philippines, and why you should consider starting your own business. If you have any questions, please don’t hesitate to comment in the section below.

READ NEXT: How to Start a Business in the Philippines: Easy Tips from DTI

Start a Rice Business in the Philippines: 3 Options You Can Do

I’ll try not to bore you with overused facts. You already know how rice is to Filipinos and that’s probably why you’re looking into how to start a rice business in the Philippines. I caught up with Bryan Dizon, my brother-in-law, farmer extraordinaire, and owner of  Javenri Harvest Farm   (“Javenri”), and asked the questions you may have on rice production and selling in our country. Though I suspect the lessons here apply to other countries, too. 

Page Contents

The Rice Value Chain and Players

When we say rice business or  bigasan , the most common interpretation is that of a retailer or wholesaler. But there are several ways you can get into the industry. Here’s a list of your options as a business. We’ll also talk about the profit margins you might expect per business type. 

All of the succeeding data are from the  Philippine Statistics Authority  (PSA) as presented by the  Department of Agriculture  (DA) in their training for trainers. 

A lot of functions also overlap and may be carried out by a single player. For example, farmers may go directly to millers or even retailers. Skipping a few steps may mean more profit but also at the expense of more work. 

Growers or farmers

The value chain starts with the farmers or growers. In terms of profit per kilogram, they have the highest at Php4.33/kg.

Keep in mind though that this is over the course of the entire process. That’s until harvesting or about 3 months in total. We’re not even mentioning the labor-intensive nature of a grower’s business. 

Traders get the fresh unhusked rice ( palay ) and dry them ready for milling. As the middlemen between farmers and retailers, they’ve been given a bad rap for a few reasons (e.g., hoarding). But as long as farm-to-market roads are unavailable, traders have an important role to fill. 

Wholesalers and retailers

For people who want to start, the most popular rice business option is selling because it is a straightforward process. You look for a good location, apply for the relevant business permits and licenses ( BIR , DTI/SEC,  NFA ), buy the necessary equipment and assets, set up your management system, and so on.  

What high demand means to you as a business

The good news is, demand for rice in the Philippines is high. As a country, we’re consistently in the  Top 10 Rice Consumers in the World . Here’s the bad news: High demand doesn’t automatically imply large profits. 

That’s a common misconception prevalent in the industry. I got this quote from one of the top results in Google.

Sorry, but NO! This approach fails to see the other side of the same coin,  supply . If both supply and demand are high, then it’s a wash. There may even be billions or trillions of rice sacks demanded, but if supply is as widespread as demand, then that just means smaller margins for you, and potentially a losing business. 

Let’s get back to the dealership example in the quote. If it’s that easy to enter the market as a dealer, then you’re most likely going up against entrepreneurs who want the same pie. The low barriers to entry mean more players, and ultimately smaller profits per dealer (and occasionally losses).

The point here being profit margins are dictated by more than just demand . There’s supply, which is partly determined by barriers to entry, and there are other economic factors to consider. 

( Related: See Blue Ocean Strategy )

Understanding this is crucial when assessing the expected returns that follow. 

Expected returns per business type

The expected profits mentioned in the following texts are also from the PSA, presented by the DA. The margins per business model are also presented in this table. 

According to the dataset from the Philippine Statistics Authority: 1. Farmer (fresh palay) = 27.8% 2. Palay trader (dry palay) = 2.7% 3. Miller trader (milled rice) = 6.7% 4. Wholesaler (milled rice) = 1.6% 5. Retailer (milled rice) = 2.8%

Keep in mind that the returns are based on PSA’s sales and profit figures, and do not consider external economic and non-economic factors. That is, you may be getting less per kilogram as a trader, but also consider that it takes less effort and risk. When choosing a rice business type, capital, business plan complexity, and niche are also factors to think about. And of course, your risk tolerance and preferences should be taken into account.

Consider these tradeoffs when choosing a rice business model to pursue. 

( Related: 3 Easy Steps to Assess Business Viability )

Movement towards Mechanization 

In 2019, the Rice Tariffication law ( RA 11203 ) was signed, allocating Php10 billion per year towards the mechanization, training, credit, and other initiatives for the betterment of the Philippine rice industry. 

This has some implications for you as a business player in the rice industry. 

One example is the  potential for higher gains due to the mechanization , and lower overhead, of operations. This has been a contentious act though due to the lost jobs for farmers. But the idea, at least in economic theory, is they’ll eventually shift jobs to more productive uses. The change in work enhances the overall productivity of the economy. 

It’s a short-term problem with a long-term gain. 

Other aspects to take note of the excess tariff are financial assistance, land titling, crop insurance, farm diversification. The gist is this: We’re making strides to increase the competitiveness of the Philippine rice industry relative to our ASEAN neighbors.  Riding this wave as an entrepreneur might not be a bad idea. 

People wanting to start rice businesses in the Philippines should know that there are opportunities other than rice selling as retail or wholesale rice suppliers . Your 3 options are as a (1) grower/farmer, (2) trader, and (3) wholesaler/retailer.

PSA statistics are of great help, but keep in mind the economic tradeoffs per business model. Higher earnings usually come at the cost of more work and risks. 

If you’re interested in starting a rice business, or maybe want to ramp up your existing rice production through training sessions and consultations, you may get in touch with Bryan at Javenri’s Facebook page . Javenri Harvest Farm is a certified training school in the Farmer Field School in Rice Production, a TESDA-sponsored training program . 

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Starting a Profitable Rice Retailing Business: Your Ultimate Guide 

Disclosure: Small Business Philippines strives to provide relevant and accurate information in all its articles. However, some information in our articles may differ or might be outdated from what you can see or read directly from the establishments’ or businesses’ websites. Please get in touch with us directly for any discrepancies.

Starting your rice retailing business at the right time is crucial for success. Factors such as market demand, competition, and the availability of capital should be taken into account. This section will guide you in identifying the optimal time to launch your business.

Market Research

Business plan and financing, supplier and inventory management, store setup and equipment, pricing and promotion, customer service and engagement, examples and tips for a successful rice retailing business, key takeaways.

Choosing the right location for your rice retailing business is essential. Factors like proximity to target customers, accessibility, competition, and infrastructure should be considered. This section will provide insights on selecting the best location to maximize your business’s potential.

Step-by-Step Guide to Launching Your Rice Retailing Business

Conduct thorough market research to identify your target customers, understand their preferences, and analyze the competition. This step will help you develop effective strategies to attract and retain customers.

Create a comprehensive business plan that outlines your objectives, marketing strategies, operational processes, and financial projections. Determine the capital required and explore various financing options available to fund your rice retailing business.

Legal Requirements and Permits

Familiarize yourself with the legal requirements and permits necessary to operate a rice retailing business in the Philippines. This step will ensure compliance with regulations and avoid potential penalties.

Establish relationships with reliable rice suppliers and negotiate favorable terms. Develop an inventory management system to ensure adequate stock levels, minimize wastage, and maintain product freshness.

Design an appealing and functional store layout that enhances the shopping experience for your customers. Acquire the necessary equipment, such as weighing scales, storage containers, and display shelves, to facilitate smooth operations.

Determine competitive and profitable pricing strategies while considering factors such as market trends , production costs, and customer expectations. Implement effective marketing and promotional activities to generate awareness and drive sales.

Deliver exceptional customer service to build loyalty and attract repeat business. Implement customer engagement strategies like loyalty programs, feedback mechanisms, and personalized experiences to enhance customer satisfaction.

Example 1: The Story of Juan’s Rice Mart Explore the inspiring journey of Juan’s Rice Mart, a successful rice retailing business that started small but grew exponentially through strategic planning , exceptional customer service, and innovative marketing techniques.

Example 2: Leveraging Technology for Business Growth Discover how rice retailers are leveraging technology solutions such as online platforms, mobile apps, and social media marketing to expand their reach, attract new customers, and streamline operations.

Tips for Success:

• Build strong relationships with your customers and suppliers.
• Monitor market trends and adjust your offerings accordingly.
• Focus on product quality and consistently deliver fresh rice.
• Embrace digital marketing strategies to reach a wider audience.
• Continuously improve your operational processes for efficiency.
• Starting a rice retailing business in the Philippines can be a profitable venture due to the high demand for rice.
• Conduct thorough market research, develop a solid business plan, and secure the necessary permits and licenses.
• Choose a strategic location, establish reliable supplier relationships, and provide excellent customer service.
• Leverage technology and stay updated on industry trends to stay competitive.

Ready to start your rice retailing business in 2023? Follow the step-by-step guide , implement the proven tips, and unlock the potential of this lucrative industry. Begin your journey to success today!

Choosing a Business Location: Guide for Entrepreneurs

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Allan Martinez

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5 Important Tips for Starting a Rice Retailing Business (Bigasan)

Updated: April 15, 2023

In the Philippines where rice is eaten every day, starting a rice retailing business or bigasan makes a lot of sense. You have consumers who buy in great numbers and food establishments who order in bulk.

Thus, becoming a rice dealer or retailer can net you good profits because of its daily demand. And with a low starting capital of about P80,000 to P120,000 — it’s also an affordable business to start as well.

To help you succeed in this business, here are five important tips you should follow.

1. Get an NFA license first.

Your first priority when starting a rice retailing business would be to secure a license from the National Food Authority (NFA). They are the ones who will tell you if you are allowed to sell and distribute rice.

The NFA license can be procured at the nearest NFA office that has jurisdiction over the location of your business. You will be given an application form from a Licensing Officer (LO) after paying an application fee of P100.

Once you’ve submitted the application form back to the LO, you will pay a license fee that depends on your capital and receive an official receipt from the cashier.

The last thing you need to do is prepare your equipment and facility to be inspected by NFA investigator and if approved, head back to the LO with your notice of inspection, official receipt and proof of compliance with deficiencies (if any).

After acquiring an NFA license, your next step is to register your business. A single proprietorship business must register with the Department of Trade and Industry (DTI), while a partnership and corporation must register with the Securities and Exchange Commissions (SEC).

Related topic: How to Register Your Business in the Philippines

2. Buy proper equipment

The NFA needs you to have the proper equipment for selling rice. You will need a calibrated weighing scale, white-painted rice boxes, and price tags that indicate the price of the rice per kilogram among other things.

Other requirements include the classification, variety, and grade of the rice grain whether it is NFA or otherwise.

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.

3. Choose a good location for your rice business.

The location you choose should have the right target market, has heavy foot and vehicle traffic. Study the habits of those who frequent buying rice in “palengkes” and groceries to gauge how you would approach the situation to your favor.

4. Invest on proper storage for your rice.

The downside of selling rice is that it can spoil easily, and its quality will deteriorate in three months. So implement a first-in, first-out inventory method to optimize the shelf life of your rice and maintain its quality.

Another thing you should take note are insects or bugs that eat rice, such as bukbok or grain weevils. Keep your storage area clean and sanitized. Ask tips from your rice supplier as well on how to prevent infestation.

5. Get to know your suppliers and prospective customers

List down all the rice suppliers you have nearby and develop good relations with them, this way you would be able to take discounts further down the road and even get referrals from them.

Having a wide variety of rice will make it easy for customers to choose to do with your business since they have a lot of options to buy from you.

While this may be easy, consider making deals with large-scale businesses such as hotels, resorts, restaurants and small-scale businesses such as carenderias. By providing discounts to businesses, they would likely be more loyal to you and maybe even refer to you if they have other clients interested in buying rice in bulk.

Contact Information for Business Licensing Authorities

Department of Trade & Industry Trade & Industry Building, 361 Senator Gil J. Puyat Avenue, Makati City, Metro Manila, Philippines 1200 Website: www.dti.gov.ph Email: [email protected] Facebook: www.facebook.com/DTI.Philippines Twitter: @DTIPhilippines MSME Assistance Hotline:(+632) 751-5096

National Food Authority Philippines North Avenue, Quezon City, Philippines Website: www.nfa.gov.ph Facebook: www.facebook.com/nfapublicaffairs Twitter: @bigas_nfa Mobile no.: 0906-436-3133

Security and Exchange Commission (Licensing Unit) G/F Secretariat Building, PICC Complex, Roxas Boulevard, Pasay City, 1307 Website: www.sec.gov.ph Email: [email protected] Fax no.: 818-7187

Do you have a rice retailing business? I’d like to hear additional tips so please share them below in the comments section. Thank you.

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20 comments

rice retailing business feasibility study. I need help for this.

Hi Mr. Villafuerte. what if it’s not a retailer? what will be the process if it is for those who wants to be a distributor? do they need to put up a store before hand or as it is a start up, can it be our house as the business location? Thank you in advance.

just have my nfa license. kindly let me know where to buy rice for me to sell? Thanks

I am planing to set up a startup rice business (500K to1M budget) in Philippines and need some guid. what is the best option retailing , whole selling or . distribution ?

thx Neminda

I want first to have seminar before I start bigasan business,who can be a speaker for this?

Which site or reference can we check for schedule of seminars about Rice Retail/Wholesale business? Thanks po

this coming harvest season, i will harvest 40 sacks of rice 50 kilos per sacks.. who wants to buy?

i need a seminar or feasibility study for start up rice retailing business. thank you

i am planning to put a bigasan business budget is 200k please give me tips and factor to consider before putting this business thank you

major rice distributor contact me if interested

I want first to have seminar before I start bigasan business, Which site or reference can we check for schedule of seminars about Rice Retail/Wholesale business? Thanks po

hie i am sriharsha manava i am planning to start a start up retailing and anything that use in our house and daily need if any one having idea can you please share with me . and i am planning for supermarket too. you can share….

I want to attend seminar for bigasan …any one who knows ?

I want to start rice retailing business but i don’t know where to start . Is there someone there can give me some advice pls. Badly needed. Thank you

Hi Sir / Ma’am, Good day! I’m planning a business as a rice retailer but also I need a seminar first .

Me tindahan po ako sarisari store pwefe po ba ako mgtinda ng bigas kht tig iisang sako lng ng tatlong klase ng bigas?

gusto ko po sana mag start ng bigasan sa aming brgy.uupa lng po ng pwesto.un nga lng po 50 k lng puhunan q ok po ba na panimulang capital un? thanks po.

HI SIr. I am planning to start rice business as a rice retailer / Wholesale business KIndly let me know.

Sir/Ma’am, Idea po sana kung saan pwede mag apply/register for rice retailing business seminar, love to be in this field po..salamat

gusto ko po magstart ng bigasan business para sa community namin . sa bahay na rin po namin ung location. gusto ko po makahanap ng supplier. ung sustainable po at reliable

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How to Start a Rice Retailing Business in the Philippines (Bigasan)

For a lot of Filipinos, there is always a need to make more money with what they have in the bank. Fortunately, you do not need to break the bank to gain a profitable venture. A simple way to make money is to establish a rice retailing business. Yes, rice is a staple commodity here in the Philippines. We can’t eat without rice in the table, and has always been a common foodstuff that people buy all the time.

Rice has many uses for Filipinos. It is used in different ways from cooking rice to making delicacies such as the bibingka or suman. If you are still doubtful that it would be a wise investment, think of it this way: there are many grocery stores and restaurants who buy rice by the bulk for daily operations.

With just an investment capital between P80,000 to P100,000 of operating capital, you don’t have to think about making a loan.

To get you started, here a couple of things you need to accomplish before you start your rice retailing business.

Acquire The Needed Requirements

Getting a National Food Authority (NFA) License

The first step in establishing your business is to acquire a NFA license. The NFA is the authority and judge in permitting you from the distribution and selling of rice. You can get your license at the nearest NFA office that has the jurisdiction in the location of the business.

An application from will be given to you by a Licensing Officer (LO), but only after paying an application fee of P100. Once the application is accomplished and returned to the LO, you need to pay a license fee, depending on the amount of capital you have. Afterwards, the cashier will give you a official receipt.

Once complete, and all the equipments and location is locked down, the facility will be inspected by an NFA inspector with a notice of inspection, your official respect, as well as a proof of compliance and a list of deficiencies, if any, in regards to the facility.

For a list of locations of the NFA, and the requirements needed, this will conveniently show you all of them .

Registering The Business

In case you are the sole proprietor of the business, you will need to register with the Department of Trade and Industry (DTI). If you have a business partner or want to establish a corporation, you will need to register with the Securities and Exchange Commissions (SEC).

Find The Best Location For Your Business

When looking for the proper site for establishing your rice retailing business, you need to think of your customers. Who are they? What is your target market? Usually, rice retailers have heavy foot-traffic as well as passed by many vehicles in the area.

Another tip is to observe people at groceries who frequently buy rice, and think how it presents an opportunity for you. Better yet, aim for those who buy their rice at “palengkes” to know what their buying behavior is to provide you an advantage.

Buy The Equipment You Need

When looking for equipment for long-term use, take note that the NFA is strict in that you need the proper stuff for selling rice. After all, this is food that is prone to being contaminated. Some basic equipment you need are the following:

• Rice boxes (choose the white-colored ones)
• Signboard (Aim for 45cm wide and 75cm in length)
• Price tags (Tells the price per kilogram)
• Weighing scaled (should be calibrated, no need to go for digital)

Along the ones listed above, you also need to know the variety, grade, and classification of the rice grain. The signboard should show your NFA control number, business name, the words “Wholesaler” or Licensed Grains Retailer”.

Know How To Store Rice Properly For Long-Term Selling

As most Filipinos know, leaving out rice in the sun will spoil it fast. The quality of your rice deteriorates usually in less than three months. Watch out for the insects that eat rice, such as the bukbok, or as they are named in English, Boll Weevils. Bukboks are attracted to the starchiness of rice, most of which it is made out of.

A quick way to prevent losing quality and maintaining the freshness of your rice is to frequently use the first-in, first-out inventory method to replace your stock.

Market Yourself To Future Customers And Suppliers

A good business is nothing without its suppliers or customers. Developing good relationships with suppliers might earn you a big discount for rice, saving you a lot of money and still profiting off your retailing business.

Make deals with the food industry such as restaurants and carenderias, by providing discounts. These ensures that they will gladly keep coming back to replenish their stocks of rice. Lastly, don’t neglect the single buyers, they are just as important as any running businesses that buy from you. A loyal customer is always a customer that will buy what you offer.

26 responses to “How to Start a Rice Retailing Business in the Philippines (Bigasan)”

Hello, my name is Donald. I am trying to open up a rice store in Manila for my filipina wife. Can you email me more details hiw to start? I mean, my wife is 100% pure filipina but she has no idea about Philippine much… I have a baby son from her. Currently I am working at South Korea and my wife stays at Philippine. I need her to learn how to operate business and how to survive. So I decided to open up a rice store. Of course start with small first. So email me every single details with your own opinions too. Thank you so much.

These nearby houses generally provide you with additional comps, better paytable possibilities plus a friendlier surroundings.

Hi. Can you please send me more details regarding the rice business. Thanks

I want to start a smallrice business. Can u help me pls. Thanks

Planning to start a rice business.. Please provide me guidlines a out this..thanks

I want to start a rice retailing business can you please provide to me more details

How can start business rice.i dont know how to start rice business. I hope magbigyan nyo po ako ng supplier.

Hi! We are a cooperative from Nueva Ecija (Rice Granary of Central Luzon) looking for a long-term buyer. We supply quality premium, regular and well-milled rice. If you are interested you can reach us by sending e-mail through [email protected] to further assist you or may contact us 0916-177-8391.

Hi miss paula. I’m looking for a rice supplier. And I’m interested to your cooperative. Do you have facebook account or page? Thank you

Hi pwede po ba Mag start ng bigasan 20k capital small store lang tnx sa makakasagot at help.. Hope mkabigay ng supplier dasma cavity area. 09354656445

Can you also send me details on how to start a rice retail business. Thanks

What are the requirements for starting rice business at home?

Hello po, just wanted to inquire about bigasan business with a minimum of 100k pesos budget. Is there any documentation needed and is it possible we can build a small area near to our home in Lipa Batangas? Thank you.

I’m planning to start up a rice business here in Isabela (northern Luzon area). I’ve never been into business and have no idea where to start.I would like to seek your help on how to do it.Thanks.

How many percent po ang patong per sacks?

Hi! We are specializing in exporting Vietnamese rice including many kinds such as ST24, Jamsmine, long grain white rice… Please contact me through: [email protected]

Hello, may I ask about bigasan business, can you send me the details regarding this business, pls.message or call me at 09215737993

Looking for good deal supplier for rice..

Hello I’m hazel and my boyfriend name merits and we don’t have child yet but planning,we would like to open a small rice business can you help us

Hello! Me and my siblings want to start a rice retailing business here in Nueva Ecija. Can you give us enough details on how to start that business? Thank you

Hi. Anyone here can guide me if how to start a rice business? What are the process to be done.

Help need naman po.gusto ko sanang mag start ng business na small bigasan store.hindi ko po alam kung paano magsimula at kung magkano ang daoat na maging kapital.sana po matulungan nyo po ako.thank you

I want to start a rice export business

I want to indulge on rice Business. Can you give me some advice?

How to start a rice business? What are the things that need to reconsider?

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Bigasan business – guide for starting a rice retailing business.

If you are looking for a business that will guarantee a rewarding profit today, it would be anything that has to do with food. And for us here in the Philippines, a rice retailing business would be an excellent one.

Almost every Filipino cannot stand a day without eating rice, not only because it is our staple food, but because meals seem to be incomplete without it. Even those who are going on a diet can hardly let go of rice, and would go for replacing white rice with brown or red.

This only goes to show that you can never go wrong when it comes to choosing this business, and if you want to know more information on how you can get it started on putting a rice business, read some tips down below.

1. Secure an NFA license . Before you can even start selling rice, you need to secure a license from NFA or the National Food Authority. The application fee is only 100 pesos and you can process it at the NFA nearest your business. You will also be required to pay for a license fee but that will depend on your capital.

2. Get your equipment and facility ready. Prior to approval, an NFA investigator will be checking on your equipment and facility, and as soon as you get approved, you will have to register your business. With the registration, you will be required to submit your business name, mayor’s permit or the business permit, BIR TIN and your application to NFA.

Read also:  How to Start a Car wash Business in Philippines

3. Make sure you have enough capital. The capital you will be needing for a rice business is approximately between 60,000 to 100,000 pesos for a start. You will also have to decide if this business is just going to be sole proprietorship or it is going to be a corporation. Other things that you will have to consider and decide for is the type of rice you will be selling based on your market, and location. You also have to look for the supplier for this type of rice in your area.

4. Invest on storage and equipment. Rice spoil in just a matter of a few months so you have to make sure you have the right storage and keep your area clean and sanitized all the time.

Don’t forget to have a concrete rice business plan if you want to succeed with this kind of business.

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How to setting up rice milling business in Philippines

Rice has been a staple of the Filipino diet since time immemorial.Therefore,setting up a rice milling business in the Philippines can be a smart move.Do you want to know the steps to setting up a rice milling business in Philippines? As with any other type of grain processing business, there are two ways to make this happen. Either start a rice milling shop to processing paddy for the farmer or build a rice milling plant to sell your own brand white rice.Each has its pros and cons so you should weigh your options carefully before venturing into this type of business.

Compared with build a rice milling plant, it will be much easily to build a rice milling factory

1. Find a good location

Choosing a good place is a very important start for opening a rice milling store

2.Obtain the necessary licenses and permits

No matter which kind of business , obtaining licenses and business permits is necessary.

3.Buy rice milling machine

The major equipment for a rice milling shop is the rice milling machine.

Small scale enterprise in the countryside might as well take a second look at a compact rice milling machine that can perform the functions of bigger models.This is the model 6LN15 from China .One very good reason why it can be profitable is that the mill has a high milling recovery rate of 68.1 percent. This means that for every 100 kilos of paddy milled, 68.1 kilos of polished rice is recovered.The rice milling machine has a cleaner machine ,husk machine, rice bran separator, rice milling machine,rice grader machine. The milled rice is therefore very clean.it can be operated by just one man.

The investor can install one in a community where small rice farmers produce quantities that the big rice processing complexes will not care to accept. the small rice farmers  can have their harvest milled and sell the same as commercial rice, they will significantly increase their income. Many farmers harvest 120 cavans of palay from one hectare. If they sell the palay at P17 per kilo, the gross income will be P102,000.

But if they have their harvest milled by 6LN15 paddy rice mill plant, they will get total of 3,900 kilos of polished rice. Because the rice is of high quality, that will sell at P42 per kilo and the gross value will be P163,000. The cost of milling is only P7,800 so there is an increase in income of P53,200 for farmers who have their paddy milled and sell the same as commercial rice.

Do you want to know how to get your own custom package rice product to sell? it’s much complicated to setting up rice milling plant in Philippines

1.Learn more information about rice milling business

Before taking a plunge into the rice milling business, it is important that you find any rice mill around you; look at the environment, have a feel of the processes involved in rice milling and meet with the owner or manager. Let them know that you are also planning to start the business and would need some mentoring.You should also find out the costs of starting the business as well the costs of running the business after launch. Find out the equipment and manpower required. Find out about the pitfalls and challenges that new entrants into the business will most likely face. And find out how to avoid the pitfalls and overcome the challenges.

2.Create a business plan

Developing a business plan for your rice milling business is very important, as it will guide you through the process of starting the business successfully and running it effectively afterwards. Your business plan will also come in handy when you approach investors or lenders to fund your business.Your business plan will detail your business’s goals and objectives, required startup and running costs, projected earnings over the first few years, required staff, your target market and a thorough analysis of that market, the competition, your marketing strategy and unique selling point, and your exit strategy.it’s an important step to for setting up rice milling business in Philippines.

3.Obtain the necessary licenses and permits

In virtually all parts of the world, obtaining licenses and business permits is a requirement for starting any business. However, the required licenses and permits vary between states and countries.So it’s better you visit the appropriate agency in your state or country to inquire about the licenses and permits you will need to obtain before you can start your rice milling business. Better yet, visit the agency’s website or contact a seasoned attorney to find out.

4.Find a good location

A good location is germane to the success of any business. The ideal location for your rice milling business is one that is easily assemble to trucks and other vehicles, since these will be used to transport rice to and from your mill.In addition, when choosing a location for your rice milling business, you must factor in the availability of electricity and other utilities you will need for the day-to-day running of your business.

5.Buy equipment

The major equipment in rice milling business is rice milling plant. This machine neatly de-husks raw rice to produce rice in its edible form.The rice milling plant you can import from countries like China, where the machines are usually manufactured and sold at relatively reduced prices.

6.Hire employees and start operations

You will need to hire other people to work with you. For example, you will need laborers who will offload raw rice and rice milling plant operators, depending on the capacity of machines in your rice milling plant.

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Rice Retailing Business Plan Tips To Jumpstart Your Entrepreneurship

The Philippines is a rice-eating country so selling the staple makes a lot of sense. However, before you can start opening the first store and making a profit, you need a sound rice retailing business plan . Don’t let the idea scares you as with a capital as low as PHP 80,000 and the high demand for rice, you can totally have your own store and make ends meet with it. 

To help you becoming a rice vendor, here Corner4men will give you five tips to start with: 

Swot Analysis Of Rice Retailing Business

The location should be taken into consideration when you start making your rice retailing business plan. Convenience counts when you sell rice so choose a place that is near where people live or work.  Remember to offer a wide range of payment options for your customers. 

As a new rice vendor, the lack of experience and capital are the two biggest hurdles you will have to overcome. 

Opportunities

Choosing a prime location provides you with the opportunity to sell to a large number of customers, individuals as well as businesses. 

A major threat you should consider when you make your rice retailing business plan is an economic downturn that can negatively affect spending power. Competition is another factor you should think about. 

If you want safety and certainty for your business, a lugaw franchise is a good idea to consider.

Get An NFA License 

When you have a plan, the next step is to get an NFA license to be able to do a rice retailing business in the Philippines. Visit the nearest office of the NFA that exercises jurisdiction over the location of your future rice business. You will have to submit an application form and pay a small amount fee of PHP 100. The license fee will depend on the scale of your capital and after you pay, you will get a receipt. 

NFA investigators will inspect your facility and equipment. After getting the approval, you will need to come back to the NFA office bringing the official receipt, proof of compliance with deficiencies, and notice of inspection. 

After getting the NFA license, you need to register the business. If yours is a single proprietorship business, visit the Department of Trade and Industry, while corporation and partnership have to be registered with the Securities and Exchange Commissions. 

Buy Proper Equipment

You need proper equipment before you can start selling and this should be in your rice retailing business plan. The must-haves are price tags, a calibrated weighing scale, and white rice boxes. 

Some other requirements are variety, grade, and classification of the rice. Last but not least, you need a 45x75 cm signboard with the business name, the terms ‘Wholesaler,’ or ‘Licensed Grains Retailer,’ and NFA control number. 

Choose A Location For Your Business 

Where your store locates matters and you should choose a place with heavy vehicle and foot traffic. Knowing the habits of those who usually buy rice at the location is important too. 

Build Proper Storage For Your Merchandise 

One of the most significant disadvantages of selling rice is that the merchandise spoils quickly and easily. In just three months, the quality of rice will deteriorates so you should take note in your rice retailing business plan that the first-in, first-out method is the way to go. 

Rice-eating bugs and insects are your enemy so keep an eye on them. Keep the storage clean and free of them. You can also ask your rice suppliers about how to avoid them. 

Maintain Good Relationships With Your Suppliers And Customers 

Maintain good relationships with your suppliers as you can get referrals or even discount from them. Customers move a wide range of choices because they like to think that they have options at hand. 

Individual and corporate customers are equally important. For the latter, discounts go a long way in keeping them loyal to you. 

Your rice retailing business plan should have a section dedicated for this as gaining a new customer is way harder than keeping one coming back. 

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Sample Rice Retail Store Business Plan

Rice retailing business plan sample.

Rice is one of the most popular and highly consumed food in most countries of the world. Because of this, it is always in high demand. If you are looking for a lucrative business that you can start with low capital, you can consider the rice retailing business.

This article is going to provide all the essential information you need on starting a rice retailing business.

• Carry Out a Market Research

Don’t just assume that because rice is always in high demand, you will automatically make good sales and profits. Though it is undisputed that rice is a highly demanded food commodity but this does not mean that it sells well in every location. Many factors influence the demand for rice and how well it will sell.

While there are many places where rice is regularly eaten on a daily and there are also environments where rice is a luxury that is eaten occasionally.  This is why you need to carry out market research to determine where to locate your rice retailing business. Market research will also help you to identify and understand your potential customers and even your competitors.

So, before users start anything as regards the rice retailing business, the first thing you should do is to write a rice retailing business feasibility study report and develop comprehensive market research. Doing this will arm you with all the necessary information you need for the business. And this will help you make the right decisions and also save you from making unnecessary mistakes.

• Learn About the Business

“What do I need to learn about starting a rice retailing business for God’s sake? Is it not to go and buy rice from wholesalers and resell?” I know those are some of the questions running through your mind.

Well, let me tell you the truth, if you don’t want to take avoidable risks that can make your business run at loss, then you need to go and learn about the business from someone who is already doing it. I mean, do you know how to distinguish a bowl of good rice from a bad one? Do you know the right place to purchase quality rice at cheap prices?

You don’t have to waste time trying to figure this out all by yourself when you can always learn how to it right.  My advice to you is that you should look for one or two highly successful rice retailers and go and learn the nitty-gritty of the business from them.

• Find a Good Business Location

Like I mentioned earlier, it is the location of your rice retailing business that will determine whether you will sell very well or not. So, when you are finding a location for your business, make sure that location is where there is a high demand for rice. Also, make sure it is not too far from where you will be getting your rice supplies.

As soon as you get a location that is suitable for your rice retailing business, start promoting your business to people around. Intimate people about what you intend to sell so that they can become familiar with it.

• Write a Rice Retailing Business Plan

If you want your rice retailing business to go far, then you will need a business plan for it. A business plan will not only help you preempt the future and plan for it by setting clear goals, but it will also make it easy for you to pitch investors for your business and even apply for bank loans in case the need arises.

If you want to write your business plan by yourself, there are business plan samples and templates online that users can use as a guide on how to go about it.

• Register the Business

If you want your rice retailing business to be taken seriously, then you need to register the business. Registering your business will make it looks professional and people will not be reluctant to transact business without because they know your business has legal standing.

Also, it will make it easy for you to get contracts from corporate organizations and government agencies.

• Start the Business

If you do not have the required capital to start a rice retailing business, the first thing you should do is to source from capital either from your friends and family members or from the bank. After you have raised capital, you can then make a bulk purchase of rice of different varieties that your customers will like either from a wholesaler or directly from a rice farm.

You should also get all the other basic things you will need like storage facilities, measuring tools, etc. If you cannot handle the business single-handedly, then you can hire a few people to work with you.

• Promote the Business

Remember, your business cannot thrive if you are not making sales and you can’t make good sales if you don’t market your business. So, don’t sit still and assume that consumers will just start rushing to you. You need to do aggressive marketing and look for irresistible offers that will make people buy from you and become your loyal customers.

RICE RETAILING BUSINESS PLAN EXAMPLE

Here is a sample business plan for starting a rice retailer business.

A rice retail store business is a business that can be started by virtually anyone. You do not need any form of experience, good business or educational background to start and run a rice retail store.

One basic requirement for setting up a rice retail business  is the regular supply of rice and a good site for your business.

This article serves as a guide to how a rice retail store business plan sample looks like. You will need it to effectively start your rice retail store business.

Business Name: George Grey Rice Retail Store

Executive Summary

Our Products and Services

• Vision Statement

Mission Statement

Business Structure

• Market Analysis

Sales and Marketing Strategy

• Financial Plan

Competitive Advantage

George Grey rice retail store is a rice retail store owned by a 45-year-old high school dropout, George Grey. It is a registered store and will be situated in downtown Los Angeles, California. We are looking to become one of the biggest rice retail stores in the United States. To make this happen, we have secured a facility that is large enough to help us achieve this.

At George Grey rice retail store, we are aware of the existing competition in the rice retail store business. As a result of the competition that exists in this business, we have carried out massive research to help us know what our customers need. With this, we will be able to give our customers exactly what they want.

We will also make sure that our customers get the best services whenever they come to purchase our goods. We intend to have a personal relationship with all our customers. This, we will achieve with the use of CRM software.

George Grey rice retail store is not in the rice retail business for fun. We are in this business to make a lot of profit.

We know that to make a lot of profit, we need to be able to please our customers. As a result of this, we will provide our customers with the best price from the most trusted rice production firms that are in the world.

The products that we will offer our clients include long-grain rice, short-grain rice, and medium grain rice.

All these will be available both in non-organic as well as organic form.

Vision Statement Our vision at George Grey rice retail store is to dominate the rice retail store industry. We have the vision to become one of the most sought after as well as successful rice retail stores in Los-Angeles California and the United States.

At George Grey rice retail store, our mission is to set-up a standard rice retail store business that will be able to meet the ever-increasing needs of our numerous potential customers. We intend to ensure that properly bagged rice and will be obtainable to our prospective customers for a price that they will easily afford.

We are also looking to grow from just having a single rice retail store in Los Angeles, California to having a chain of rice retail stores scattered across the United States.

We are looking to just set up a store that will be considered average. Our intention at George Grey rice retail store is to set up a business that will be a standard for other rice retail store business that will be set up after we get established. We know that becoming a force to reckon with in this business will not happen overnight. We are very intentional.

As a result of this, we will employ the services of only those that we are certain can function at the level we want to operate. We will ensure that our staff are qualified to work in rice retail stores and are also very customer-friendly.

Market Analysis Market Trend

The rice retail store industry is not new. However, it is constantly changing. At the moment, this industry is moving very rapidly from a manually powered industry to a technology-driven industry.

As a result of the advantages that technology has made available, home delivery, as well as online ordering, are now a major part of the rice retail store business.

We are new in the industry and we intend to get a foothold fast. To achieve this, we will carry out the following;

• Give discounts to our first set of customers as well as our regular customers
• We intend to have a strong online presence
• We will also place our handbills in public places

Our Target Market

Virtually everyone feeds on rice. This makes the market for the rice retail store business a very large one. We are not the only rice retail store in Los Angeles, California. Therefore, we do not intend to offer everyone our services.

After carrying out our research, we have come up with a target market that we know will suit our business. Those in our target market include;

• Restaurants

Financial Plan Source of Startup Capital

To get our rice retail store business started on the level that we intend, we will need $100,000. As it stands, we do not have all the money we need. We have been able to come up with 60% of the amount that is needed to set-up this business. The remaining amount will be gotten as a loan from the bank.

We are not ignorant of the high-level competition that exists in the rice retail store business. To stand out, we have chosen a location that will constantly keep us because of our customers. We are also looking to get the best rice brands from top rice packaging firms.

This is a rice retail store business plan sample. This business is owned by George Grey and will be located in downtown Los Angeles, California.

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Rice from Vietnam Rice V ietnam

Corpaco Ltd / SAIGON

Professional rice brokers   since 1990

[email protected]

(+84) 765 248 528

(+84) 933 914 065

WhatsApp / Viber / Zalo

• Jun 11, 2021

RICE BUSINESS IN PHILIPPINES

Check how to start a rice business in Philippines with high profit, with no loss.

Capital: Starts at Php 150,000 (retailer) to Php 450,000 (franchise).

Ideal for: Those who wish to sell tried-and-true products with a ready-made market.

Advantages:

Since Filipinos eat rice every day, there is a constant need.

Because people are already familiar with the product, minimal marketing is required.

Negative aspects:

Rice is susceptible to pest infestations, especially if stored incorrectly.

Rice quality degrades after three months and spoils rapidly.

Since time immemorial Rice has been a staple of the Filipino diet. Therefore, it can be a smart move to open a rice business in the Philippines .

There are two ways to make this happen, as with any other type of food business. You can either franchise an already established brand or start your own rice retailing business in philippines. We can help you with either of the cases.

Before venturing into this type of business you should weigh your options carefully as each business has its own pros and cons. We will guide you through the whole process.

Starting a rice selling business in the Philippines, where rice is a basic diet, is always a profitable investment. Start your rice selling business in philippines by buying bulk rice from RICE-VIETNAM.COM .

ABOUT US - RICE-VIETNAM.COM

We are a Rice Broker Company based in Vietnam and we supply great quality Vietnam Rice all across the globe. We have different kinds of rice with us which cater to the different needs of the people. We are connected to various suppliers as well as companies and we have been in business for many years. We are partners with rice bag manufacturers and they provide us with hardy and unbreakable rice bags which help us transport the rice to different countries.

We are online brokers and always ready to help you by guiding you through the rice retailing business and how to go about with your journey. You can contact us to know more about anything relating to the rice business and we’ll clear all your doubts. Easily start your rice retailing business in the philippines by joining hands with RICE-VIETNAM.COM .

WHY DO YOU NEED OUR HELP?

Setting up a rice business in Philippines can be quite a challenging task considering the extremely challenging environment there. There are a lot of things to consider before you dive into this business. A proper strategy should be made so that your business thrives.

We have a thorough knowledge on rice business in Philippines. Be it a rice retailer business in Philippines or a rice dealership business in Philippines or establishing a rice franchise in Philippines , we can help you through it all.

THINGS TO REMEMBER WHEN SETTING UP A RICE BUSINESS IN PHILIPPINES

Filipinos eat rice every day so there will be a steady demand for rice. There will also be a need to sell the right kind of product that the customers will be willing to buy. Rice from Vietnam will help you a lot when setting up the business in Philippines as you will gain customer loyalty pretty much instantly by selling this rice.

Consumers are already familiar with the product. A different marketing strategy should be applied since customers are already familiar with the product. They will be willing to invest in your product when you offer good quality rice to them, you must gain their trust. We will help you set up your business by guiding you through the whole process.

Since it is a very competitive market for Bigasan rice business in Philippines, there have emerged many rice companies in Philippines. But you don’t have anything to worry about as we are in contact with many rice companies in Philippines and we will help you set up your own rice company in Philippines.

Want to become a rice dealer business in philippines?

Contact us now, read the rice dealer business opportunity and eligibility .

8 CRUCIAL STEPS TO FOLLOW WHEN STARTING A BIGASAN RICE BUSINESS IN PHILIPPINES

1. secure license from the national food authority (nfa).

Every rice business in the Philippine must be approved by NFA. You need one license for your main/principal store if you’re planning to open numerous outlets. All those other outlets will be considered as branches. Go to the NFA office that has jurisdiction over the place where you’re planning to establish the rice business in the Philippines to get the license.

2. ENSURE THAT YOU HAVE THE FACILITY TO START THE RICE BUSINESS IN THE PHILIPPINES AND ALL THE REQUIRED EQUIPMENT

When the NFA personnel will personally visit your store, they will check for the following:

Calibrated weighing scale.

Price tags (the price of the rice per kilogram).

White-painted rice boxes.

Signboard (45 cm wide and 75 in long) showing your business name, NFA control number, and the words “Licensed Grains Retailer” or “Wholesaler.”

Classification, variety, and grade of the rice grains you’re going to sell.

Once approved, the NFA inspector will issue you a notice of inspection. Bring this together with the official receipt and proof of compliance with deficiencies (if any) to the NFA office to get the license.

3. REGISTER YOUR BUSINESS

Register your business with the Department of Trade and Industry (DTI) if you’ll operate it alone and Securities and Exchange Commission (SEC) in case you are opting for rice businesses operated by a partnership or corporation.

4. CHOOSE A LOCATION FREQUENTED BY YOUR TARGET MARKET.

Choose a location where people are already conditioned to buy rice. Some great examples would be groceries or wet markets (“palengkes”).

You can contact us to know more about these intricacies. We will be delighted to help you set up your rice business in Philippines.

5. HAVE ENOUGH SPACE TO STORE THE SACKS OF RICE.

To prevent infestation of rats, molds, weevils (bukbok) and other pests keep the storage space clean and sanitized

To ensure every sack of rice sold is high-quality and doesn’t go beyond its shelf life Use the “first-in, first-out” inventory method.

6. KEEP ASIDE A REGULAR BUDGET FOR THE RICE SUPPLY.

Setting a different budget scheme for the supply of rice is very essential. Contact us to know more about how to set up a budget. We will give you honest guidance.

7. PARTNER WITH A RELIABLE RICE SUPPLIER OR RICE MILL.

We are a team of professional brokers and our chain of supply is worldwide. Give your people a new taste with the Vietnamese rice and your sales will keep growing. We are in contact with the best suppliers and dealers and companies selling rice worldwide. We will help you set up your rice business in Philippines ( Bigasan ).

8. WHILE TRANSPORTING RICE, MAKE SURE THAT YOU USE GOOD QUALITY RICE BAGS .

Transporting the rice in good bags is very essential to maintain their quality and showcase your professionalism.

The rice will lose moisture and shrink size by up to 3%, due to prolonged sun exposure. if the transport vehicle passes by rice fields on the way to Manila and there is insufficient covering , it may also expose the rice to flying weevils (bukbok).

We at Rice Vietnam are partnered with the best manufacturers of rice bags - CPC-VIETNAM and transport all our rice in those unbreakable protective bags to ensure that the flavor of our land remains intact.

Follow the above important tips for starting a rice retailing business in philippines. There are many benefits of rice retailing business ( Bigasan ). Have any queries related to the rice business in the Philippines contact us.

You are one call away to setting up your Rice Business in Philippines. We only deal with bulk rice buyers who are very serious in Starting a Rice Retailer Business in the Philippines . Contact Us now!

OUR PROMISE - RICE-VIETNAM

Rice Vietnam serves only the pure and the best to its buyers. We respect your investment and can promise you honesty and good quality in all our products. We are ready to help you with any doubts regarding the rice business. Only businessmen and businesswomen who can buy our merchandise and become our long-term business partners are needed. We will sell our rice at a discount and in bulk 200MT minimum quantity.

Please review our eligibility requirements for the rice business ( Bigasan ) before applying to work with us.

Email us your LOI (letter of intent) & requirements

WhatsApp Message us your LOI (letter of intent) & requirements

WHATSAPP NO.

(+84) 70 340 1976

RICE VIETNAM OFFICE Details:

My HANG or David SEN

RICE-VIETNAM

Office Address: SCREC TOWER

L/C /13 04 Truong Sa / Q12 / District 3

HO CHI MINH City

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How to start rice mill business in Philippines?

Rice is a major priority crop in Philippines. Domestic rice consumption has been witnessing an upward trend over the years, due to elevating population growth. Rice has become a major part of the diet among consumers, and is used in many cuisines in restaurants and at home as well owing to its convenience in preparation and palatable recipes.

RICE MILLING

Milling is a crucial step in post-production of rice.The milling business may be a wise move.The basic objective of a rice milling system is to remove the husk and the bran layers, and produce an edible, white rice kernel that is sufficiently milled and free of impurities like stones, sand, husks, etc. If you are looking for profitable business to do, rice mill business can be a good option.If you don’t have enough capital to start a modern rice mill, You can start small and then grow into a full standard rice mill plant .A small rice mill can also be profitable. The small rice mill production line has a paddy cleaner machine,husk separator, rice bran separator, rice mill, an adjustable polisher and a rice grader machine. The milled rice is therefore very clean.Being compact, the machine can be installed in a place as small as 9 square meters. And it can be operated by just one man.

Do you want to know the setup steps of a large rice milling business in the Philippines ?

1. learn more about rice milling business.

Before getting into the rice milling business, it’s important to find any rice milling machine around you; look at the environment, understand rice milling and meet with the owner or manager. Let them know that you also plan to start a business and need some guidance. You should also find out the cost of starting your business, business operating costs after startup. Find equipment and manpower required. Understand the pitfalls and challenges that new entrants will most easily encounter Possible face. And figure out how to avoid pitfalls and overcome challenges.

2.Choose location

Choice of location has a big role to plan in the success of a rice mill business. First things, an easily accessible and well-connected land space is needed.Essentially, a rice mill business should be located very close to where rice is grown. Proximity to raw materials (crop fields) and marketplace is an added advantage, since it helps in cutting down the transportation charges.You also need consider the factor in the availability of electricity and other utilities you will need for the day-to-day running of your business.

3.Register your business

In fact,obtaining licenses and operating permits are start any business all over the world.However, the required permits and permits vary from state to state. country / region. If you don’t know which legal structure is best for you, you should contact an accountant or an attorney.

4.Buy Needed Equipment

Your major investment will be land and equipment. It is better to go for modern rice milling machine. New machine is also better than used machine.The rice milling plant you can import from countries like China, where the machines are usually manufactured and sold at relatively reduced prices.

5.Factory Design

Ensuring adequate water and electricity supply: Quintessential supplies like water and electricity are a must for setting up any factory, let alone rice mills. All the machines run on electricity and water helps in regulating the production of rice at various stages throughout the process. Hence, incessant supply of both the supplies should be ensured beforehand.

6.Hire Employees And Start Operations

You will need to hire other people to work with you. For example, you will need laborers who will offload raw rice and rice milling plant operators, depending on the capacity of machines in your rice milling plant.

In conclusion, rice milling business is very profitable and sustainable. It has a low capital requirement and the technical know-how is not complicated.To know the exact cost for setting up a rice milling business, please do not hesitate to come Zeno Farm Machinery, we will guide you everything from the cost of setting up a rice mill production line to the layout designing, installation of rice mill and machinery.

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The Thrifty Pinay

Finance | Business | Empowering Women To Learn, Earn & Be Financially-Independent

How to Start a Siomai Business in the Philippines

By Ameena Rey-Franc

How to Start a Siomai Business in the Philippines:

Siomai is one of Asia’s most popular snack options. Before being hailed as a kanto -favorite appetizer in the Philippines, the origins of Siomai predate even before Magellan stepped foot in the country. Shaomai, as the Chinese describe it, originated in Inner Mongolia somewhere between the Ming (1368–1644) and Qing dynasties (1644-1912) of China. It reached the land of the rising sun where the Japanese called the steamed ball of meaty goodness Shumai . Until it reached the Philippines and became the siomai we all know and love.

With centuries building up to siomai’s popularity, it’s no wonder Pinoys are itching to get a bite whenever they see a vendor. If you’re interested but wondering how to start a siomai business in the Philippines, you came to the right place.

Is a Siomai Business profitable in the Philippines?

Before delving into the steps, it’s important to know if siomai is a good business, to begin with. When talking about siomai’s profitability, we have to look at the context surrounding it. Street food is an unceasingly popular business in the Philippines despite countless cautionary warnings from health bodies . Street food vendors rarely get zeroed out as long as there are students, office workers around, and bystanders around. It’s typically the usual suspects when talking about street food: fishball, kikiam, squid ball, kwek kwek, and siomai. 

If you’re an aspiring entrepreneur on a budget, a siomai business is a perfect start. Why? Well, it’s simple but highly profitable. Heard of that broke couple turned rich thanks to their siomai business that grosses 50,000 daily? Siomai businesses require low capital but they’re capable of earning large profits. Always remember, as long as people eat, a food business will never run out of customers.

Here are the necessary steps when Starting a Siomai Business in the Philippines

1. Do some market research

Siomai businesses are great. But there’s a caveat to the success story I mentioned earlier. They first started with fishball, kikiam, and banana cue. Newsflash, all those start-ups failed. The reason is simple, they didn’t do initial market research . The siomai business they put up was a hit and miss . They lucked out with siomai that’s why they made a fortune. 

When starting a business, the last thing you want is to establish something that’s bound to fail. Sadly, many startups suffer the same fate. The success of your business relies on good market research to warrant the business’s potential. Siomai is a good business , no doubt. But does your potential market share the same proclivity for siomai as you do, or are you simply and blindly holding on to a hope that they are?

To get you started, here are some queries you might want to answer first for a siomai business in the Philippines:

• Who are your target consumers?

Siomai is popular among office workers, students, internet cafe addicts, and bystanders. Is your location swarming with those people? Are they keen to eat quick siomai snacks over other options?

• What are your target audience’s spending habits?

Do customers go out of their way to have some good siomai meals? Do they prefer siomai with sticks or with rice? Do prospects prefer meals delivered?

• What does the market look like?

Will you sell in the city or the suburbs? Do you need a physical store, a stall, or are made-to-order meals acceptable enough?

• Who are your competitors?

Are there existing siomai sellers in your locality? Is competing with them a good idea? What value proposition can you offer to make their suki choose your solutions instead? 

2. Prepare your capital

Capital is another reason why comprehensive market research is imperative when starting a siomai business in the Philippines. Think about it. If you require a physical store to etch your siomai brand in the locality, you’ll need more money to start with. The capital you’ll be using is the gasoline that’ll keep the business running. You’ll use it for funding the materials, expenses, and overhead. If you want a smoother launch, you need to calculate your startup costs . Doing so will also help you estimate your profitability and growth potential. This is where your market research is for.

Let me give you an example. Say, your market investigation reveals that made-to-order meals are better compared to setting up a physical stall. You will require less capital to start than having to shell out more funds for a stall that wouldn’t significantly sell better. Again, your business is anchored on good market research.

• Related Post: 14 Time-tested Tips for Online Selling in the Philippines

3. Plan and prepare everything

Information and data are used for one thing: to make the right decisions. With market research backing your decision-making process, you are likely to make the right choices and minimize errors.

For example, if setting up a stall is a better direction than made-to-order meals, there are things you need to be aware of:

• First, your location. The location you choose should be strategic, where you can maximize impressions and conversions.
• Second, physical stores can’t get away without a DTI business permit . Make sure you have your business registered.
• Third, assess your operational costs or overhead. There’s more to business than your cost of goods sold, you’ll have utility bills, rent, and possibly labor costs that can sweep you off your feet.

Don’t be hasty to jump on the business seat. Plan everything first otherwise your “siomai” might turn to “oh my!”

4. Buy the equipment needed

Once you’ve got your gameplan fully furnished, then, only then, do you buy your equipment and ingredients. Here is a simple list to help you out:

• Food steamer
• Paper containers
• Sauce dispenser 
• Acrylic plastic juicer

Ingredients:

• Ready-made siomai (unless you plan on making your own)
• Garlic flakes

Gulaman? Yes, that is, if you’re willing to offer some refreshing palamig to your suki which is an added income stream. Check out this gulaman recipe here .

5. Find suppliers

Selling siomai in the Philippines is quite straightforward. The ingredients and equipment you need are not difficult to find. If you live anywhere in the Metro, you can easily scour Divisoria to find all things you need at a bargain. If not, you can always visit your local supermarket or wet markets to buy them.

If you want to get all things you need from the comfort of your home, there are online marketplaces to buy your things. Shops like NegosyoNow sells both food and non-food items like packaging materials. While stores like MK Kitchen may sell the kitchen supplies you need for the siomai business. Otherwise, you can seek popular siomai chains instead that provide all the things you need after your initial payment.

6. Price your products right

The cornerstone of every successful food business is not ONLY the quality of the product but also the price. All things being equal, Filipinos will normally gravitate toward the most affordable option. If you have a competitor, you may want to double down on the quality and pricing strategy. That will ensure you corner the market for your siomai business.

A popular pricing strategy you may want to try is the cost-plus pricing strategy . Basically, your products should account for all operational expenses and overhead costs associated with selling the siomai. This way, all your markup will be allocated towards profits. Needless to say, be reasonable with your profit margin.

• Related Post: How to Compute & Price Food Products (w/ example) Philippines

7. Marketing is key

In this age of the internet, more than half of the population is engaged in social media . The only way to dominate your industry is by getting a leg-up on your competition. Take advantage of facebook’s free platform to promote your business to friends and colleagues. You can also use the messaging app to reach out and seek people who are keen to try out your food products. If you plan on opening a physical store, register your siomai shop to Google My Business. This will ensure that you stay ahead of your competition through local SEO .

If you’re looking for a full list on how to promote and market your siomai business effectively, check out our guide on 20 Ways to Promote & Market Your Business in the Philippines .

Best Siomai Suppliers in the Philippines

If you’re looking for the best suppliers to get siomai ingredients and equipment, on-site visitation is always the best course of action. However, if it can’t be helped, here are some online resources you can visit. Always make sure to legit check these suppliers to avoid getting scammed.

Kitchen equipment suppliers

• NegoPinoy Trading
• IBCOM Kitchen Equipment
• Catering Depot Philippines
• MJD Industries, Inc.

Siomai suppliers:

• ACM Frozen Food Products Suppliers
• Great Food Solutions
• Maco’s Meat Products Direct Supplier
• Princess & Stacey’s Frozen Food Supplier

Packaging suppliers

• Binondo Street
• Packaging Depot Manila
• Grand Champ Packaging

Best Siomai Franchises in the Philippines

Below are some of the best siomai franchises you can reach out to if you plan on setting up your own siomai business in the Philippines. Make sure to read reviews and check references before fully committing to fully assess what you’re getting into.

• Master Siomai

Phone Number: 287095288

Website: http://www.mastersiomai.com/  

• Siomai King

Email: [email protected]  

Phone number: 0923 604 8805

Website: https://jcfranchiseinternational.com/  

• Ideal Siomai

Email: [email protected]  

Phone number: 0935 336 2107

• Siomai House Bernabest

Email: [email protected]

Phone number: 287096237

Website: https://www.siomai.house/  

• Dimsum Factory

Phone number: 284424884

Website: http://shop.dimsumfactory.ph/  

Siomai business is one of the best low-cost, high-profit startups you can put up in the Philippines. However, there are many overlying layers that you need to accomplish first before startup. Furthermore, you if you plan to try selling other frozen food, check out our article on How to Start a Frozen Food Business in the Philippines . We hope this article helped you if you plan on starting your own siomai business in the Philippines.

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Rice Processing Mill Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business Plans » Agriculture Sector » Agro Processing

Are you about starting a rice processing company? If YES, here is a complete sample rice mill business plan template & feasibility report you can use for FREE .

Agro-processing business is one very profitable business any entrepreneur can go into. If you intend starting a rice mill production business, then you must be sure of making a huge loads of money within a very short period of time. This is because rice is one of the most popular foods today in the world; this is why this business would be very profitable for you. Below is a sample rice mill production business plan for your use;

A Sample Rice Processing Mill Business Plan Template

1. industry overview.

Rice milling is a very important process in post-production, as this is when the husk and bran layers are removed to then produce edible white rice that free of impurities. However, milling of the rice is usually dependent on the preference of the customers, which would invariably affect how many milling processes the rice would have to go through.

Rice milling businesses have grown over the years in the united states of America  and this is due to the fact that rice is the staple food of most countries of the world, and is eaten almost every day and especially during special occasions. Fortunately, since there hasn’t been any alternative to rice, this is a business that would continue to boom for a long time.

Even though most of the rice consumed in some countries is imported, however in the United States of America, it is a different ball game. There is large rice farms where rice is harvested locally, thereby ensuring that the rice can be milled locally.

The milling production is one that can help in employing several hands that would help boost the economy and also help increase the per capita income of those employed as well as their dependants. Even though this is a profitable business to go into, it is also very competitive as more entrepreneurs are seeing the benefit this sort of business poses as a worthwhile investment.

2. Executive Summary

Trice Rice Mill Production is a business that is legally registered and licensed operating in Idaho. We were duly registered in the United States of America and have also carried out all the local requirements needed from us here in Idaho.

The services offered by our company include milling of rice depending on the specification of the individual client. We cater largely to producers and sometimes wholesalers because they know what the market needs are. Other products and services that are offered by us include the sale of the rice hull, bran layers, rice germ as well as fine broken which are all by products gotten from milling the rice. We also provide storage facilities as well.

Due to the fact that the market is not only profitable but competitive as well, we strive to always give quality service to our customers, this we do by listening to their requirements and also passing along advices and tips that might best make them become better, while also listening for suggestions to improve our business as well.

Our rice mill production business premises are in a location that is convenient for our customers to get to as well as our employees as well.

We constantly seek for ways, by which our services can be improved, from our milling machines and storage facilities to our customer services and even our price rates. We also do not compromise on integrity as we adhere strictly to the company’s corporate culture at Trice Rice Mill Production Ltd.

In increasing our customer retention, we are fully aware of the importance of loyal customers and how they help grow the bottom line of a business. We have several strategies in place for our loyal customers especially those who help refer new customers to Trice Rice Milling Production Ltd.

Our customers will also be constantly informed of changes carried out as well as receive tips from us as we plan on seriously engaging them through our website and social media platforms, even as we intend to deploy customer management software that will help ensure that our customer database is up to standard.

Trice Rice Mill Production Ltd is owned and managed by two people, Mr. Godwin Kublo and Mr. Bull John with vast knowledge in this industry and who are partners in the business. Financing the business will be done by the two partners, with loans sourced from lending institutions and private investors. Both partners will be actively involved in the day to day running of the business.

While Mr. Godwin Kublo has a Masters’ Degree in Business and a Project Management Certification; Mr. Bull John has a degree in Agricultural Economics and an MBA.  Both have a cumulative business experience that spans over 25 years in the industry, and this will help bring the needed experience required to run this business.

3. Our Products and Services

Trice Rice Mill Production Ltd is a company that has a standard license and is also fully registered, and like every other business out there its aim is to minimize cost while maximizing profit and output. Asides, rice milling, it will also seek to engage in other services. The products and services that will be made available to customers include;

• Milling Rice
• Sale of Milled Rice By-products
• Storage Facilities
• Transport Facilities

4. Our Mission and Vision Statement

• Our vision is to become the foremost rice milling production plant in states that have rice farms.
• Our mission is to ensure that we deploy the best milling machines in ensuring that our customers get the best service from us.
• We also intend to provide the best customer service so that our customers not only come back, but refer new clients to us as well, thereby giving us an edge over our competitors.

Our Busin ess Structure

Trice Rice Mill Production Ltd intends to become a well known brand nationally, which means we not only intend to be well known in Idaho State but also beyond the environs of the state. This will be achieved through our various strategies aimed at ensuring we achieve that claim.

We know how important our customers are, and so while we develop other important strategies aimed at moving the company forward, we will put our customers first by ensuring that we provide a quality customer service that is second to none.

Aside from promptly attending to the complaints and enquiries of our customers, we intend to use the best CRM software that will help in providing this quality service. While treating our external customers is topmost, we intend to also give a high priority to our internal customers, such as our employees and stakeholders, for we know how important having dedicated employees with the right attitude is.

We intend to ensure that our employees in all our locations understand our corporate culture as well as our vision and objectives. We intend to employ those with the right skill set and understanding of our policies into these positions;

• Managing Directors
• Rice Mill Production Manager
• Floor Supervisor
• Accountant/Cashier
• Admin and Human Resource Manager
• Quality Inspector
• Machine Operators
• Store Manager
• Machine Maintenance Workers
• Truck Driver
• Security Guard

5. Job Roles and Responsibilities

Managing Directors (Owners):

• See to the day-to-day management of the business, which includes direction, supervision and human resource issues; while carefully contributing to the interest of the business.
• Responsible for ensuring that contracts with business partners and clients are negotiated in favor of the business.
• Ensuring that the agreements and obligations of the duly monitored and fulfilled according to the practice of the business
• Responsible in ensuring that bills, payroll taxes and salaries are paid accordingly
• Responsible in ensuring the company remains afloat with a healthy bottom line
• Investment of cash assets that are short-term in nature with low credit loss risk
• Responsible in ensuring that the financial affairs as well as the accounts of the company are up-to-date and accurate.
• Responsible for the creation of company policies, structure, vision, goals and objectives as well as company culture
• Draft strategies that would move the company forward and also remove or modify strategies that aren’t working well

Rice Mill Production Manager:

• Oversees the staff and ensure that they follow company guidelines and policies
• Responsible for leaves and vacations
• Responsible for resolving complaints and issuing off queries
• Reports directly to the managing directors especially in matters that are above his jurisdiction
• Responsible for ensuring that the mill runs efficiently
• Comprehends directives from the Managing Directors and translate them to those below him as well as staff
• Evaluate employees based on their performance and progress from time to time and now those bound for promotion
• Ensure that quality control is maintained
• Ensure that the services are meeting up to customer needs and requirements

Floor Supervisor:

• Responsible for maintaining the production areas
• Coordination of daily operations on the floor of the mill by allocating tasks
• Supervises mill workers and also responsible for their performance.
• Ensures that the mill production machines are in good working conditions, and reporting maintenance issue to the appropriate department
• Ensures that production operations are performed in accordance with laid down standard of the company
• Assists Manager with training requirements
• Complies with the mill security, as well as ensure that all regulations such as fire and health are strictly adhered to

Accountant/Cashier:

• Responsible for ensuring that invoices are booked into the right account
• Responsible for reconciliation of both cash and bank statements by month end
• Ensures on-time payment of all invoices
• Ensures that cash is kept in a safe place and know the minimum and maximum level
• Carries out accounting operations that relate to cash handling
• Ensures that the correct taxes are deducted and paid

Admin and Human Resource Manager:

• Responsible for the recruitment, selection, training and development of employee
• Carries out regular performance appraisals on employees
• Responsible for employee welfare
• Responsible for employee retention and so drafts strategies that would ensure that retention is high while also working hand in hand with the Manager
• Ensure that employees remain motivated by influencing internal and external incentives
• Maintain proper and accurate personnel files

Quality Inspector:

• Responsible for final inspection
• Corrects whatever faults are found during the milling process and ensuring that the customer has a better finished product according to the stated requirements
• Works with manager and floor supervisor to ensure that the customers are satisfied always

Machine Operators:

• Prepares the machine before each procedure
• Runs the machine according to standard production procedures
• Responsible for troubleshooting light tasks such as machine breakdown that might occur during production
• Responsible for cleaning the machines and ensuring that they are recalibrated for the next task
• Ensures optimum efficiency of machine by monitoring the machine during procedure
• Ensures that regular maintenance is carried out
• Provides relevant information regarding machine to floor supervisor

Store Manager:

• Carries out store operational requirements
• Responsible for store staff by disciplining, coaching, monitoring as well as appraising work ethics
• Works hand in hand with the Manager
• Ensures that store is well ventilated and clean

Machine Maintenance Workers:

• Carries out thorough cleaning of machines and its parts
• Dismantles machines for effective repairs
• Reassemble machine after repair work has been carried out
• Works hand in hand with floor supervisor
• Replace or change machine parts

Truck Driver:

• Responsible for loading and unloading of truck
• Ensures truck is kept clean at all times
• Carries out light maintenance work on truck routinely
• Works hand in hand with Manager especially when enroute a location

Security Guard:

• Ensures the facility is secure at all times
• Scrutinizes incoming and outgoing vehicles
• Submits security report regularly

6. SWOT Analysis

A rice mill production business is a capital and labor intensive business, and so would require huge sums to start up. Our awareness of this fact has created in us a resolve to ensure that the business becomes profitable and breaks even in its second or third year.

This is where our experience comes to bear and separates us from newbie entrepreneurs that have no knowledge of the business.

We know how necessary carrying out a SWOT analysis is for any business and while we would attempt to do these ourselves, we also have gotten input from an expert consultant on certain trends. The SWOT analysis that we conducted with input from an external consultant for our Trice Rice Mill Business in Idaho is as follows;

Trice Rice Mill Production Ltd is strategically located close to several large rice farms in Idaho, State; the location is regarded as strength because of the convenience to several strategic customers.

Other strengths of Trice Rice Mill Production Ltd include the offering of additional but related services such as storage facilities, sale of milled rice by-products as well as transport facilities for customers. We also consider our excellent and prompt customer service to be a strength as it offers us a competitive advantage.

Our perceived weakness stems from the fact that we seem to be operating regionally, as it could take a while for us to be seen as a national business instead of a regional business.

• Opportunities:

Without an iota of doubt there are loads of opportunities in Idaho. The market is a very big one and we would also have the opportunity to market our good to other parts of the United States of America as well as other parts of the world. Our nearness to the big market will be of great advantage while also work   critically at converting potential consumers to actual clients.

There are several threats that face every business and this is the downturn of the economy as well as the arrival of close competitors to the market.

7. MARKET ANALYSIS

• Market Trends

The fact that more rice farms are springing up locally has seen more rice mills spring up all over the country to be able to meet the demands of the rice farm owners. This has made the business become more competitive as rice mills strive to leverage on every competitive advantage chief of which is offering additional but related services as well as continually improving on its customer service.

Another trend is to open more storage facilities across different locations, this way customers that are far from the mills do not have to worry about having their products stored so far away. This is a competitive edge over most rice mill production businesses.

8. Our Target Market

In carrying out a thorough research, we were able to site our business in Idaho due to the various rice farms in the state. The location also brings us in close proximity to other states within the region where there are several rice farms as well.

The location will be of immense benefit to rice farm owners as well as wholesalers who get their unmilled rice from other regions; thereby allowing them to quickly cater to the teeming customers that abide.

Our Competitive Advantage

From thorough research and due to the profit viability of this business, several rice mill production businesses have sprung up not only in Idaho but in other regions that are close to offer a stiff competition as well. Idaho has various rice milling production plants as well as several others in other states that are close to it.

Our research did not however look into what sort of completion we were likely to have but also what their weaknesses were so that we could come up with strategies that would ensure we have competitive advantage over them and become the go-to rice mill production plant for our target customers.

One of our competitive advantages is in ensuring that we are strategically located. Our production plant is not only located close to good roads, making it easier for our customers to reach us, but our storage facilities which are spread all over also located in strategic points enabling us to not only attract but retain customers as well.

Another competitive advantage we have is the vast combined experience of the owners who have not only brought this in to bear on the business but have also given them an edge in being proactive in the market by ensuring that unique solutions are given for every challenge and obstacle that arise during the course of running the business.

Asides, from offering additional but related services; we tend to employ the only the best hands to help run the business, but also employees that understand the vision and philosophies of our business and know how this translates to offering the best service to our customers. We intend to ensure that the working conditions for our employees are the envy of other employees from our competitors.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Like every other business, Trice Rice Mill Production was established with the intention of making profit, in the agro-allied industry.

This means that generation of income via several sources is our top priority, and this would be done via our main service as well as other additional but related services that we would be offering as well. We intend to generate income by offering the following services listed below;

• Rice Milling
• Sale of milled rice by-products such as rice hull, bran layers, rice germ and fine broken
• Transport facilities
• Storage facilities

10. Sales Forecast

The forecast for our sales will largely be hinged on where we are located and this we intend to achieve by being located in an area that is centrally located and easily accessible so as to easily attract more customers especially potential ones. We know that having more customers translates to an increase in generation of revenue.

Asides having a good location, we intend to ensure that our machines and other facilities especially that of storage is not only up to standard but also continually reviewed and inspected by our internal inspectors so that our customers can continue to have faith in our business.

In critically analyzing the agro-allied and processing industry, and after several researches and feasibility study, we have confidently come up with a sales forecast that we feel isn’t extravagant and will moderately serve as a model for us and our stakeholders.

Our several years of experience were brought to bear in the sales projection as we were entitled to several information that is not necessarily available to greenhorn entrepreneurs. Below are the sales projection for Trice Rice Mill Production limited that is based on several factors that relates to small and medium scale enterprises in major countries in the world;

• First Fiscal Year-: $ 240,000 Dollars
• Second Fiscal Year-: $ 450,000 Dollars
• Third Fiscal Year-: $ 750,000 Dollars

The projection done above is strictly based on all factors being equal such as stable economic growth and lack of strong competitors offering same services and products with same location. Our sales forecast is averagely moderate and stakeholders must be warned that depending on how factors change, projections might increase or decrease.

• Marketing Strategy and Sales Strategy

Our marketing strategy would be hinged on providing standard milling production services as well as additional but related services to our customers. We intend to cultivate a loyal customer base where we not only increase our customer retention but also attract new customers to patronize our services.

We intend to use our loyal customers to get new customers by deploying a referral system that would see the customer get a discount or recognition in return for referring new customers to us.

Other strategies we intend to adopt is in ensuring that we engage existing and potential customers on our social media platforms, and also from time to time give out tips and suggestions that will ensure that the businesses of our clients improve.

We also intend to engage in massive publicity through our website as well as other forums that are agro related so as to garner more customers. Some of the marketing and sales strategies that we will adopt include;

• Introduce our business officially to rice farmers and large dealers in the rice business both in Idaho and the immediate environs by meeting personally with them and telling them of the benefits they stand to gain in using our services
• Ensure we open as many storage facilities as possible spread across several strategic locations
• Make use of our official website in promoting our rice mill by deploying SEO to ensure that it tops the online search for potential customers
• Make use of our social media platforms such as LinkedIn, Facebook and Twitter to promote our brand
• Ensure that our rice mill is advertised on radio, television and even in local and national newspapers
• Meeting and exceeding the expectations of our clients and through this improving the performance of our brand.
• Ensuring there is a consistency in customer experience in all our locations
• Use attractive billboards and banners to ensure that potential customers are aware of our services
• Create awareness by passing out handbills and fliers and pasting same in strategic areas
• Ensure that we deploy the direct marketing approach
• Make use of word of mouth marketing to increase awareness of our existence and invariably our products and services

11. Publicity and Advertising Strategy

We know how important publicity is for any serious business that intends to not only make profit but become a well known brand in the industry as well. To this effect, we have several strategies in place that is aimed at increasing the awareness of our rice mill production company in the minds of our customers.

We intend to use conventional and non-conventional means of promoting Trice Rice Mill Production Ltd. We know how important it is for our immediate customers to accept our rice mill and then ensure it is the preferred go-to mill for their rice products.

We know that a good standing in the location where we are based, will invariably affect our other branches that will be in other regions positively.

While we intend to carry out some of the publicity strategies ourselves, we realize that to be able to fully put in our best efforts into the business, we would likely hire a consultant that would help us come up with and deploy the strategies that have been deemed effective.

Some of the publicity and advertising strategies that we intend to deploy for our Trice Rice Mill Production Ltd include;

• Create awareness amongst rice farmers by visiting rice farms
• Using our social media platforms – such as Facebook, LinkedIn and other agro forums – to educate the public on the benefit of milled rice and the various stages involved
• Engage in community related programs especially those that would target the youths
• Distribute our fliers in target areas and paste our handbills in conspicuous strategic locations
• Place adverts in local and national newspapers, radio stations, and also on television
• Make use of bulk messaging platform to create awareness
• Carry out Facebook targeted advert so that we are able to reach the right customers
• Ensure that we place billboards in and around strategic points in Onitsha

12. Our Pricing Strategy

We know our important getting the right pricing structure is at Trice Rice Mill Production Ltd. We intend to ensure that there are several pricing packages based on the requirements of our customers and their budget as well.

Our pricing rates will not be done in isolation, as we would check what is being offered by our nearest competitors and ensure that we peg our prices around what is obtainable especially if the pricing is fair, this way we would not unnecessarily create a price war.

Finally, our pricing will also take into account what our cost of production as well as overhead is; this is so that we do not run the business at a loss. We however, would strive to ensure that we minimize cost to the lowest level.

• Payment Options

We intend to adopt a payment policy that will cater to all the classes of customers that will patronize us at Trice Rice Mill Production Ltd. We intend to make sure that our payment options abide by all the financial rules and regulations of the county where we would be operating from.

Listed below are the payment options that Trice Rice Mill Production Ltd will make available to its customers;

• Cash payment
• Point of Sale (POS) Machine payment option
• Payment via bank transfer
• Payment via check
• Payment via online bank transfer

The banks with whom we have partnered with for our rice mill production business is one that will ensure that customers have a smooth time during payment without unnecessary stress. Our bank accounts will be available on request.

Those that wish to make payments online will need to fill out a contact form that will specify their request and invariably what they would need to pay. Those who would pay offline would need to physically visit our location to obtain a payment voucher which is based on what the requirements of the customer are, as payment differs according to the needs of the customer.

13. Startup Expenditure (Budget)

The cost in starting up any business is usually dependent on the size and scale of the business in question. If you intend to start up a small scale business whose size is small in terms of employees and size of facility, your start-up expenditure cannot then be compared to those who intend to start on a large scale, having a large facility and several machines and also employing several hands.

This invariably means that your start-up budget will depend exactly on what you intend to achieve with your business and the vision you had in mind as regards the business.

Even though the standard milling machine used in rice milling production businesses is basically the same, having more than one of the machine will see your cost tripling. However, costs of the machine and tools to be used are usually the same with few cost difference in-between which would depend on where the machine would be coming in from (foreign country) or locally.

This does not mean that you cannot get the machine for fairly used from other rice mill production plants; however, ensure that the machine is in a good condition so that you don’t end up spending more to fix it up. Regardless of all the above listed factors, there are several basic requirements that you would need to fulfill if you intend to start your own rice mill production business;

• Business registration and incorporation fees – $750 Dollars
• Obtaining licenses and permits – $1,300 Dollars
• Insurance (equipment, vehicle, and workers’ compensation as well as general liability) – $105,600 Dollars
• Marketing, promotion and publicity expenses for at least six months – $70,000 Dollars
• Rent and renovation of facility for operation and storage facilities for at least one year – $200,000
• Cost of hiring a publicity consultant – $2500 Dollars
• Operational cost for the first three months which would include employee salaries and payment of bills – $10,000 Dollars
• Start-up inventory – $13,750 Dollars
• Other start-up expenses (POS Machines, utilities, and stationeries) – $10,000 Dollars
• Purchase of truck for use in operation – $50,000
• Purchase of furniture and gadgets (computers, printers, photocopiers) for administrative section – $25,000 Dollars
• Cost of store equipment (security, ventilation, racks) – $600 Dollars
• Cost of launching a secure website – $7,000 Dollars
• Miscellaneous (signage, business cards) – $10,000 Dollars

From the above requirements, an estimate of $305,900 Dollars would be needed in order to successfully set up a standard rice mill production plant in Idaho State. The amount includes the salaries of all employees for the first three months of operations.

Generating Funding/Startup Capital for Trice Rice Mills

We have the sufficient experience to know how important finance is to any business either profit or non-profit. Without finance, an idea remains an idea, and every entrepreneur worth his salt knows that to make an idea become a reality, funds have to be sourced for.

Trice Rice Mill Production Limited is a business owned by two partners with several years of cognate business experience and while it might seem ideal to use funds from their pockets, they would rather intend to lend a huge amount of the equity instead.

Some of the major areas where they intend to source for loans include;

• Generating a certain amount from personal savings
• Applying for loan from a commercial bank
• Approaching willing investors

Part of the equity that has been generated by us for the rice mill production business,  amounts to 200,000 Dollars- and  100,000 each gotten from our personal savings. We intend to source the remaining 200, 000 Dollars from commercial banks or from any willing investor.

14. Sustainability and Expansion Strategy

We do not intend to start a company that will die off anytime soon, and so we have several sustainability strategies in place to ensure that our business lasts as long as we want it to. Our sustainability strategy is in ensuring that the right corporate structure and foundation are in place as this will provide a guide to what we intend to achieve.

We know that happy employees lead to more growth and productivity of any business and so we will ensure that the welfare of our employees remain paramount. We intend to ensure that employees are rewarded based on performance and we also intend to share a certain amount of profit with our management team.

We also intend to ensure that our customer retention strategy is high as we know that our bottom line can only remain healthy if our loyal customers are retained at a 90% rate. Asides, our customers, we also intend to ensure we invest in the business continually, and moderate our expansion so that we do not grow and spiral out of control.

Once the above factors are put in place, we are sure to be able to not only sustain and grow our business effortlessly but also expand the business as at when due.

Check List/Milestone

• Business Name Availability Check:>Completed
• Business Registration: Completed
• Opening of Corporate Bank Accounts: Completed
• Securing Point of Sales (POS) Machines: Completed
• Opening Mobile Money Accounts: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Leasing of a facility and renovating the facility as well: In Progress
• Conducting feasibility studies: Completed
• Generating capital from family members: Completed
• Applications for Loan from the bank: In Progress
• writing of business plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents and other relevant Legal Documents: In Progress
• Design of The Company’s Logo: Completed
• Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
• Recruitment of employees: In Progress
• Purchase of the Needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business both online and around the community: In Progress
• Health and Safety and Fire Safety Arrangement (License): Secured
• Opening party / launching party planning: In Progress
• Establishing business relationship with vendors – wholesale suppliers / merchants of cooking gas: In Progress
• Purchase of delivery truck: Completed

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PH expected to cut down rice imports on weaker El Niño

Imported rice from Vietnam being unloaded in Surigao City port. —FILE PHOTO

With domestic production able to meet the slight increase in consumption due to a weaker El Niño, the Philippines may still reduce its imported rice purchases.

In a report, the US Department of Agriculture’s (USDA) Foreign Agricultural Service said the country could import 4 million metric tons (MT) of rice this year instead of the previous projection of 4.1 million MT as “domestic production will cover the slight increase in demand.”

The USDA’s import projection is relatively flat as “the weakened El Niño forecast will support improved growing conditions for the wet season rice crop resulting in stable import demand.”

It also said the minimum access volume or tariff rate quota for rice imports, set at 350,000 MT, was rendered “largely irrelevant” since at least 90 percent of imported rice comes from Southeast Asian countries.

All rice imports are subject to the tariff rate of 35 percent until end-2024, per Executive Order No. 50 signed by President Marcos in December last year.

The country imported 793,753.49 MT of rice as of March 7, based on data from the Bureau of Plant Industry. Vietnam, as in the previous years, accounted for the majority of the supply with 431,846.72 MT, followed by Thailand with 210,127.38 MT.

In 2023, the volume of rice that entered the Philippines totaled 3.6 million MT, lower than 3.8 million MT last year.

The USDA pegged rice production at 12.125 million MT, citing the latest forecast that El Niño could weaken by April and May, along with the government’s program to support the rice sector and the increased usage of fertilizer and hybrid seeds.

The government, through the Department of Agriculture (DA), funneled P30.8 billion in funding this year to 2.3 million rice farmers nationwide. The allocation was higher than the P15.8 billion the DA received in 2022.Meanwhile, the USDA estimated local consumption to rise in line with population growth.

“Global wheat prices have stabilized, but there was no measurable shift from rice to bread over the past year as both staples experienced inflation,” it added.

The Philippines produced a total of 20.06 million MT of rice in 2023, up by 1.5 percent, according to the Philippine Statistics Authority. It surpassed the previous record output of 19.96 million MT in 2021. —Jordeene B. Lagare INQ

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Home » Sample Business Plans » Wholesale & Retail

How to Write a Rice Retail Store Business Plan [Sample Template]

Are you about starting a rice retail store? If YES, here is a complete sample rice retail store business plan template & feasibility report you can use for FREE . Okay, so we have considered all the requirements for starting a rice retail store. We also took it further by analyzing and drafting a sample rice retail store marketing plan template backed up by actionable guerrilla marketing ideas for rice retail stores. So let’s proceed to the business planning section.

Why Start a Rice Retail Store?

There are businesses that someone with little schooling and no serious business background and training can start. One of such businesses is to open a rice retailing store. The major things you need to have in place to make success from this type of business is a good location, easy access to wholesale supply of quality rice and good customer service and accountability skills.

The truth is that if your rice shop is located in an area with good human and vehicular traffic, and you have quality and well – packaged rice in different sizes from different brands, you may not have to struggle to get people to visit your shop and make purchase.

So, if you have decided to open a rice retail store in your neighborhood, then you should ensure that you carry out feasibility studies and also market survey. This will enable you properly locate the business and then hit the ground running. Below is a sample rice retail store business plan template that can help you to successfully write your own with little or no hassle.

A Sample Rice Retail Store Business Plan Template

1. industry overview.

As the name of the business implies, rice retailing stores basically retail processed and bagged rice. Rice retail stores primarily purchase rice from wholesalers and retail them directly to end consumers – customers.

The Rice Retail Stores industry, just like most businesses in the retailing industry, depends on strong consumer spending to spur the demand for industry products. Over the last half a decade, the economy has begun recovering from recessionary declines with both the Consumer Confidence Index and disposable income increasing.

Going forward, as the economy of the united states continues to recover and consumers are expected to loosen their discretionary budgets, the industry is anticipated to experience growth.

The Rice Retail Stores industry is indeed a major sector of the economy of the United States of America and they generate several billion dollars annually from loads of rice retail stores scattered all around the United States of America.

The industry is responsible for the employment of well thousands of people. It is important to state that there is no rice retail store in the United States of America that has a lion share of the available market. New entrant into the industry can favorably compete for the available market.

It is a fact that an estimated two-thirds of the United States’ gross domestic product (GDP) comes from the general retail industry of which the rice retail stores industry also contributes.  This is why the United States of America’s economy is measured with the yardstick of how well the retailing business is fairing in the U.S.

In essence, when there is an unstable economy, purchasing power drops and it impacts the retailing / rice retailing stores industry negatively which may result in the closure of some rice retail stores.

Over and above, the rice retail store industry is a profitable industry and it is open for any aspiring entrepreneur to come in and establish his or her business; you can choose to start on a small scale in a street corner or you can choose to start on a large scale with several outlets in key cities through the United States of America and Canada.

2. Executive Summary

Mercy Lurton Rice Store®, LLC is a standard and registered rice retail store business that will be located in one of the busiest streets in Charleston – West Virginia. We have been able to lease a facility that is big enough to fit into the design of the kind of standard rice retail store that we intend launching and the facility is located in a corner piece property directly opposite the largest residential estate in Charleston – West Virginia.

Mercy Lurton Rice Store®, LLC will retail short-grain rice, medium-grain rice and long-grain rice (both in organic and non – organic form) et al from different brands from the United States and abroad. We are set to services a wide range of clientele in and around Charleston – West Virginia.

We are aware that there are several large and small chains of rice retail store outlets all around Charleston – West Virginia, which is why we spent time and resources to conduct a thorough feasibility studies and market survey so as to be well positioned to favorably compete with all our competitors. We have an online – service option for our customers, and our outlet is well secured with various payments of options.

Mercy Lurton Rice Store®, LLC will ensure that all our customers are given first class treatment whenever they visit our rice retail store. We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large the numbers of our customers’ base may grow to.

We will ensure that we get our customers involved in the selection of brands that will be on available in our store and also when making some business decisions.

Mercy Lurton Rice Store®, LLC will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.

We will ensure that we hold ourselves accountable to the highest standards by meeting our customers’ needs precisely and completely whenever they patronize our products. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our customers.

Mercy Lurton Rice Store®, LLC is a family business that is owned by Mercy Lurton and her immediate family members. Mercy Lurton has a B.Sc. in Business Administration, with well over 5 years of experience in the retailing stores industry, working for some of the leading brand in the United States. Although the business is launching out with just one outlet in Charleston – West Virginia, but there is a plan to open other outlets all around major cities in the United States and Canada.

3. Our Products and Services

Mercy Lurton Rice Store®, LLC is in the rice retail stores industry to service a wide range of clients and of course to make profits, which is why we will ensure we go all the way to make available a wide range of well packaged rice from top rice production brands in the United States and other countries of the world.

We will ensure that we do all that is permitted by the law of the United States to achieve our aim and ambition of starting the business. Our product offerings are listed below;

• Retailing short-grain rice, medium-grain rice and long-grain rice (both in organic and non – organic form) from different rice production brands

4. Our Mission and Vision Statement

• Our vision is to become one of the leading brands in the rice retail stores industry in West Virginia and to establish a one stop rice retail store in Charleston – West Virginia and in other key cities in the United States of America and Canada.
• Our mission is to establish a world – class rice retail store business that will make available a wide range of well – bagged rice from top rice production brands at affordable prices to the residence of Charleston – West Virginia and other key cities in the United States of America and Canada where we intend opening of chains of rice retail stores and franchise.

Our Business Structure

Mercy Lurton Rice Store®, LLC do not intend to start a rice retail store business like the usual mom and pop business around the street corner; our intention of starting a rice retail store business is to build a standard and one stop rice retail store outlet in Charleston – West Virginia.

We will ensure that we hire people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers). As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of ten years or more.

In view of that, we have decided to hire qualified and competent hands to occupy the following positions;

• Chief Executive Officer (Owner)
• Store Manager
• Human Resources and Admin Manager

Merchandize Manager

Sales and Marketing Manager

Information Technologist

• Accountants / Cashiers
• Sales Agents / Customer Services Executive

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

• Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
• Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for fixing prices and signing business deals
• Responsible for providing direction for the business
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization
• Reports to the board

Admin and HR Manager

• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
• Enhances department and organization reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments.
• Defines job positions for recruitment and managing interviewing process
• Carries out staff induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Oversees the smooth running of the daily office activities.

Store Manager:

• Responsible for managing the daily activities in the store
• Ensures that proper records of bags of rice are kept and warehouse does not run out of products
• Ensures that the store facility is in tip top shape and goods are properly arranged and easy to locate
• Interfaces with third – party suppliers (vendors)
• Controls rice distribution and supply inventory
• Supervises the workforce in the rice sales floor.
• Manages vendor relations, market visits, and the ongoing education and development of the organizations’ buying teams
• Helps to ensure consistent quality of well processed rice from different manufacturers are purchased and retailed in good price that will ensure we make good profit
• Responsible for planning sales, monitoring inventory, selecting the merchandise, and writing and pricing orders to vendors
• Ensures that the organization operates within stipulated budget.
• Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
• Models demographic information and analyze the volumes of transactional data generated by customer purchases
• Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
• Develops, executes and evaluates new plans for expanding increase sales
• Documents all customer contact and information
• Represent the company in strategic meetings
• Helps to increase sales and growth for the company
• Manages the organization website
• Handles ecommerce aspect of the business
• Responsible for installing and maintenance of computer software and hardware for the organization
• Manages logistics and supply chain software, Web servers, e-commerce software and POS (point of sale) systems
• Manages the organization’s CCTV
• Handles any other technological and IT related duties.

Accountant / Cashier:

• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensuring compliance with taxation legislation
• Handles all financial transactions for the organization
• Serves as internal auditor for the organization

Client Service Executive

• Ensures that all contacts with customers (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
• Through interaction with customers on the phone, uses every opportunity to build client’s interest in the company’s products and services
• Manages administrative duties assigned by the human resources and admin manager in an effective and timely manner
• Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to customers when they make enquiries (answer customer queries regarding the store and the merchandise)
• Finds out the customer’s needs, recommend, select and help locate the right merchandise, describe a product’s features and benefits.
• makes suggestions and encourage purchase of products
• Provides information about merchandise and delivery options
• Bags or packages purchases made
• Responsible for cleaning all the store facility at all times
• Ensures that toiletries and supplies don’t run out of stock
• Cleans both the interior and exterior of the store facility
• Handles any other duty as assigned by the store manager.

6. SWOT Analysis

Our intention to start just one outlet of our rice retail store in Charleston – West Virginia is to test run the business for a period of 2 to 5 years to know if we will invest more money, expand the business and then open other rice retail outlets all over major towns in West Virginia and key cities in the United States and Canada.

We are quite aware that there are several rice retail stores all over Charleston and even in the same location where we intend locating ours, which is why we are following the due process of establishing a business.

We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be welled equipped to confront our threats.

Mercy Lurton Rice Store®, LLC employed the services of an expert HR and Business Analyst with bias in retailing to help us conduct a thorough SWOT analysis and to help us create a Business model that will help us achieve our business goals and objectives. This is the summary of the SWOT analysis that was conducted for Mercy Lurton Rice Store®, LLC;

Our location, the business model we will be operating on (physical store and online store), varieties of payment options, wide range of well processed and well – bagged rice from different rice production companies from within the United States and other parts of the world and our excellent customer service culture will definitely count as a strong strength for Mercy Lurton Rice Store®, LLC.

So also our management team members are people who have what it takes to grow a business from start – up to profitability with a record time.

A major weakness that may count against us is the fact that we are a new rice retail outlet and we don’t have the financial capacity to engage in the kind of publicity that we intend giving the business.

• Opportunities:

The fact that we are going to be operating our rice retail store in one of the busiest streets in Charleston – West Virginia provides us with unlimited opportunities to sell our rice to a large number of individuals and businesses (hotels and restaurants).

We have been able to conduct thorough feasibility studies and market survey and we know what our potential customers will be looking for when they visit our rice store outlets; we are well positioned to take on the opportunities that will come our way.

Just like any other business, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing / spending power. Another threat that may likely confront us is the arrival of a new rice retail outlet in same location where ours is located. So also, unfavorable government policies may also pose a threat for businesses such as ours.

7. MARKET ANALYSIS

• Market Trends

If you are conversant with the Rice Retail Stores Industry, you will quite agree that the changes in disposable income, consumer sentiment, and ever changing eating habits are major growth drivers for sales in this industry.

No doubt, a massive rise in consumer confidence has also contributed in helping the industry experience remarkable growth, but uneven performance in these drivers has led to slightly constrained revenue growth for the Rice Retail Stores industry. So also, the rising demand for organic rice, as a result of increasing disposable income and consumer sentiment, will result in revenue growth.

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 cum 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.

8. Our Target Market

Possibly it will be safe to submit that the rice retail stores industry has the widest range of customers; almost everybody on planet earth consume rice; rice is indeed one of the most popular staple food in the world.

In view of that, we have positioned our rice retail store to service the residence of Charleston – West Virginia and every other location where franchise cum outlets of our rice retail stores will be located all over key cities in the United States of America and Canada.

We have conducted our market research and feasibility studies and we have ideas of what our target market would be expecting from us. We are in business to retail well processed and bagged rice from different rice production brands to the following groups of people and corporate organizations;

• Restaurants

Our competitive advantage

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 in Charleston – West Virginia and throughout the United States and Canada.

Mercy Lurton Rice Store®, LLC is launching a standard one stop rice retail store that will indeed become the preferred choice of residence of Charleston – West Virginia and every other location where our outlets will be opened.

Our rice retail store is located in a corner piece property on a busy road directly opposite one of the largest residential estates in Charleston – West Virginia. We have enough parking spaces that can accommodate well over 10 cars per time.

One thing is certain; we will ensure that we have a wide range of well – processed and well bagged rice from leading rice production companies available in our store at all times. It will be difficult for customers to visit our rice store and not see the type of rice they are looking for.

One of our business goals is to make Mercy Lurton Rice Store®, LLC a one stop rice shop for both household and businesses (hotels and restaurants et al) our excellent customer service culture, online store, various payment options and highly secured facility will serve as a competitive advantage for us.

Lastly, our employees will be well taken care of, and their welfare package will be amongst the best within our category (startups rice retail stores) in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives. We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Mercy Lurton Rice Store®, LLC is in business to retail a wide range of well – processed and well – bagged rice from different rice production brands to the residence of Charleston – West Virginia. We are in the rice retail stores industry to

10. Sales Forecast

One thing is certain when it comes to rice retail stores, if your store is well stocked with well processed and well bagged rice from different rice production brands and centrally positioned, you will always attract customers cum sales and that will sure translate to increase in revenue generation for the business.

We are well positioned to take on the available market in Charleston – West Virginia and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base.

We have been able to critically examine the rice retail stores industry and we have analyzed our chances in the industry and we 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.

Below is the sales projection for Mercy Lurton Rice Store®, LLC it is based on the location of our business and other factors as it relates to rice retail stores start – ups in the United States;

• 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. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

Before choosing a location for Mercy Lurton Rice Store®, LLC, we conduct a thorough market survey and feasibility studies in order for us to be able to be able to penetrate the available market and become the preferred choice for residence of Charleston – West Virginia. We have detailed information and data that we were able to utilize to structure our business to attract the numbers of customers we want to attract per time.

• Open our rice store in a grand style with a party for all
• Introduce our rice store by sending introductory letters alongside our brochure to hotels, restaurants, households and key stake holders in Charleston – West Virginia
• Ensure that we have a wide range of rice from different brands at all times.
• Make use of attractive hand bills to create awareness and also to give direction to our rice store
• Position our signage / flexi banners at strategic places around Charleston – West Virginia
• Position our greeters to welcome and direct potential customers
• Create a loyalty plan that will enable us reward our regular customers
• Engage on road shows within our neighborhood to create awareness for our rice store.
• List our business and products on yellow pages’ ads (local directories)
• Leverage on the internet to promote our business
• Engage in direct marketing and sales
• Encourage the use of Word of mouth marketing (referrals)

11. Publicity and Advertising Strategy

Despite the fact that our rice store is well located, we will still go ahead to intensify publicity for the business. We are going to explore all available means to promote our rice store.

Mercy Lurton Rice Store®, LLC has a long term plan of opening outlets in various locations all around West Virginia and key cities in the United States and Canada which is why we will deliberately build our brand to be well accepted in Charleston before venturing out.

As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand. Here are the platforms we intend leveraging on to promote and advertise Mercy Lurton Rice Store®, LLC;

• Place adverts on community based newspapers, radio stations and TV stations.
• Encourage the use of word of mouth publicity from our loyal customers
• Leverage on the internet and social media platforms like; YouTube, Instagram, Facebook, Twitter, LinkedIn, Snapchat, Badoo, Google+ and other platforms to promote our business.
• Ensure that our we position our banners and billboards in strategic positions all around Charleston – West Virginia
• Distribute our fliers and handbills in target areas in and around our neighborhood
• Contact corporate hotels, restaurants, households, landlord associations and schools by calling them up and informing them of Mercy Lurton Rice Store®, LLC and the products we sell
• Advertise our rice store business in our official website and employ strategies that will help us pull traffic to the site
• Brand all our official cars and trucks and ensure that all our staff members and management staff wears our branded shirt or cap at regular intervals.

12. Our Pricing Strategy

Aside from quality, pricing is one of the key factors that give leverage to rice stores, it is normal for consumers to go to places (rice retail outlets) where they can get well – processed and well – bagged rice at cheaper price.

We know we don’t have the capacity to compete with other bigger and well – established rice retail store, but we will ensure that the prices of all the brands of rice that are available in our rice store are competitive with what is obtainable amongst rice retail stores within our level and in our location.

• Payment Options

The payment policy adopted by Mercy Lurton Rice Store®, LLC is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Mercy Lurton Rice Store®, LLC will make available to her clients;

• Payment via bank transfer
• Payment with cash
• Payment via credit cards / Point of Sale Machines (POS Machines)
• Payment via online bank transfer
• Payment via check
• Payment via mobile money transfer
• Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for farm produces purchase without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for our rice.

13. Startup Expenditure (Budget)

In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting / leasing a big facility, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.

This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked.

As for the detailed cost analysis for starting a rice retail store business; it might differ in other countries due to the value of their money. These are the key areas where we will spend our start – up capital;

• The Total Fee for Registering the Business in the Unites States of America – $750.
• Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $3,300.
• Marketing promotion expenses for the grand opening of Mercy Lufton Rice Store®, LLC in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
• The cost for hiring Business Consultant – $2,500.
• The cost for insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $2,400.
• The cost for the payment of rent for 12 months at $1.76 per square feet in the total amount of $105,600.
• The cost for store remodeling (construction of racks and shelves) – $20,000.
• Other start-up expenses including stationery ( $500 ) and phone and utility deposits ( $2,500 ).
• Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $60,000
• The cost for Start-up inventory (stocking with a wide range of well – processed and well – bagged rice from different rice production brands) – $50,000
• The cost for counter area equipment – $9,500
• The cost for store equipment (cash register, security, ventilation, signage) – $13,750
• The cost of purchase and installation of CCTVs: $10,000
• The cost for the purchase of office furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al): $4,000.
• The cost of launching a Website: $600
• The cost for our opening party: $7,000
• Miscellaneous: $10,000

We would need an estimate of $250,000 to successfully set up our rice retail store in Charleston – West Virginia. Please note that this amount includes the salaries of all the staff for the first month of operation.

Generating Funds / Startup Capital for Mercy Lurton Rice Store®, LLC

Mercy Lurton Rice Store®, LLC is a private registered business that is solely owned and financed by Mercy Lurton and her immediate family members. They do not intend to welcome any external business partner which is why he has decided to restrict the sourcing of the start – up capital to 3 major sources.

These are the areas we intend generating our start – up capital;

• Generate part of the start – up capital from personal savings
• Source for soft loans from family members and friends
• Apply for loan from my Bank

N.B: We have been able to generate about $50,000 ( Personal savings $40,000 and soft loan from family members $10,000 ) and we are at the final stages of obtaining a loan facility of $200,000 from our bank. All the papers and document have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

14. Sustainability and Expansion Strategy

The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Mercy Lurton Rice Store®, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to retail our wide range of well – processed and well – packaged rice from different rice production brands a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.

Mercy Lurton Rice Store®, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of six years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List / Milestone

• Business Name Availability Check: Completed
• Business Registration: Completed
• Opening of Corporate Bank Accounts: Completed
• Securing Point of Sales (POS) Machines: Completed
• Opening Mobile Money Accounts: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Leasing of facility and remodeling the store: In Progress
• Conducting Feasibility Studies: Completed
• Generating capital from family members: Completed
• Applications for Loan from the bank: In Progress
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents and other relevant Legal Documents: In Progress
• Design of The Company’s Logo: Completed
• Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
• Recruitment of employees: In Progress
• Purchase of the Needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business both online and around the community: In Progress
• Health and Safety and Fire Safety Arrangement (License): Secured
• Opening party / launching party planning: In Progress
• Compilation of our list of rice brand that will be available in our store: Completed
• Establishing business relationship with wholesale rice suppliers: In Progress

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Today’s front page, Thursday, March 27, 2024

Marcos: India rice to beef up PHL food supply

• Samuel Medenilla
• March 28, 2024
• 2 minute read

President Ferdinand R. Marcos Jr. welcomed the arrival of more rice imports as the country is now in the “critical” phase of El Niño.

During the courtesy call of India External Affairs Minister Subrahmanyam Jaishankar in Malacañang on Tuesday, the chief executive thanked Indian Prime Minister Narendra Modi for authorizing the export of 295,000 metric tons of non-basmati white rice to the Philippines.

Marcos said the additional rice supply will help ensure the country’s food supply amid the ongoing effects of El Niño, which is expected to worsen next month.

The Department of Science and Technology (DOST) said the number of provinces affected bydrought and dry spell in April is expected to rise to 72 by April from 54 this month, and this can affect local food production.

“The [rice from India comes at]a very crucial time since we are right now suffering the effects [of] drought,” Marcos said.

The Bureau of Plant Industry reported that rice imports from January to March rose to 886,963 metric tons (MT) from 801,732 MT in the same period last year, which helped keep rice prices stable. Of the latest rice imports, 235.5 MT came from India.

Based on price monitoring by the Department of Agriculture (DA), the average price of local well-milled rice and regular milled is P52.17 per kilogram (kg) and P49.66 per kg, respectively.

To keep food prices affordable, India, the world’s largest rice exporter, banned the export of non-basmati rice in July 2023.

In October, however, India’s Ministry of Commerce and Industry granted some countries an exemption from the ban. Among them are the Philippines, Nepal, Cameroon, Côte d’ Ivore, Malaysia, Seychelles, and the Republic of Guinea.

Marcos said he wants to further expand the country’s trade with India beyond agricultural products. 

India is the country’s 15th largest trading partner, with bilateral trade between the two countries exceeding $3 billion in 2023.

The Philippine Rice Research Institute (PhilRice) introduced four public hybrid varieties that are cheaper than private hybrids in a technology demonstration farm called “rice derby,” during the recent 17th National Rice Technology Forum (NRTF) in Sto. Domingo, Nueva Ecija.

“Farmers are always searching for ways to reduce rice production costs. This forum promotes affordable, accessible government-funded hybrid varieties available for use,” said Science Research Specialist Jerry D. Batcagan.

Priced at P212 per kilogram (kg), the agency attached to the Department of Agriculture (DA) said public hybrid varieties offer farmers savings of around P100 or more per kilogram compared with the higher-priced private hybrids. 

Among the varieties — PSB Rc 72H (Mestizo 1), NSIC RC 204 (Mestiso 20), NSIC RC 446H (Mestiso 73), and NSIC RC 544H (Mestiso 99) showcased in the derby, PhilRice said Mestiso 73 stood out for its good performance.

Maturing in 113 days, it exhibits moderate resistance to blast, sheath blight, and green leafhopper, hitting an average yield of 6.6 tons per hectare (t/ha) and a maximum yield reaching 11.6t/ha.

Miniature displays of PhilRice-developed direct-seeding machines were also displayed while IEC materials and planting guides for Mestizo 1 and Mestiso 20 were distributed to the more than 500 participants.

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Rice imports at mid-March exceed 1 st quarter 2023 total

THE PHILIPPINES imported 886,963.11 metric tons (MT) of milled rice as of March 14, exceeding the fi rst-quarter total for 2023, the Bureau of Plant Industry (BPI) reported.

The mid-March shipments were 10.6% ahead of the pace of the fi rst quarter 2023 total, pointing to a substantial pickup in imports this year.

Inbound shipments between March 1 and 14 period amounted to 118,796.62 MT. 

The US Department of Agriculture   projects Philippine rice imports to hit 4 million MT this year, downgrading its earlier projection of 4.1 million MT, when it had been expecting a smaller domestic crop on the assumption of a severe El Niño.

The BPI reported that Vietnam remained the country’s top supplier of rice, accounting for 55.7% of imports with 493,962.72 MT.

In January, the Vietnamese government signed a memorandum of understanding to supply the Philippines with 1.5 million to 2 million MT of rice annually for fi ve years.

Thailand supplied 230,559.43 MT during the period, or 26% of all shipments.

Meanwhile, the volume of rice imports from Pakistan during the period totaled 109,803.5 MT, accounting for 12.4%.

Rounding out the top five sources were Myanmar and Cambodia which accounted for 48,960 and 1,620 MT of rice imports, respectively.

Meanwhile, the National Food Authority (NFA) said that it signed a memoranda of agreement with various local government units (LGUs) for its palay procurement for the dry season harvest.

In a statement, the NFA said: “One of the strategies of NFA to compete with private traders is tapping the help of LGUs to add a premium to the NFA’s buying price through Palay Marketing Assistance Program for Legislators and Local Government Units,” NFA Administrator Larry R. Lacson said.

The participating LGUs include the provinces of Camarines Norte, La Union and Bukidnon, as well as cities and municipalities of Zamboanga, Midsayap, Cotabato; Calapan, Oriental Mindoro; Malolos, Bulacan; and Conner, Apayao.

According to the NFA, the LGUs agreed to add a premium of up to P5 to the NFA’s palay buying price to support farmers. — Justine Irish D. Tabile

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