business plan of a convenience store

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Convenience Store Business Plan Sample

JAN.04, 2018

Do you want to start your own convenience store?

Are you planning to start a convenience store ? Well, the yearly sales of the US convenience store industry exceed $680 billion so it is undoubtedly one of the most profitable businesses out there. As of December 31, 2016, there were more than 154,000 convenience stores in the US and their numbers are still increasing steadily.

The biggest reason of the popularity of this business is that the convenience stores offer various products which allow the consumers to obtain all their needs from a single roof thus keeping the traffic flowing day and night throughout the year. They are undoubtedly the need of the hour in today’s time where everyone is busier than ever. That is why this business starts yielding a profit as soon as it is launched as compared to most of the businesses which need months or even years to yield the desired rate of return.

Another important aspect is that, unlike other businesses, a convenience store business has the least amount of risk associated with it provided that you plan it successfully. So before you move on to open a convenience store, you will have to prepare a convenience store business plan which will establish the basis of your company’s future operations and decisions. It will help you determine everything; the types of products you will be selling, who your target customers will be and how you will allocate your resources for the required equipment, inventory, and payroll.

So, if you are wondering how to write an effective business plan then here we are providing you the business plan for a convenience store business startup named ‘EasyShop’.

Executive Summary

2.1 the business.

EasyShop will be a bonded, insured and licensed convenience store business, located in the Manhattan borough of the New York City. We aim to serve the nearby residential community and working class of Manhattan by proving them all they need under a single roof. We have strategically selected a furniture showroom, located in the main commercial center of downtown Manhattan, to be converted into our store. The location is ideal for opening convenience store since it is amidst all commercial and business activities and at a 10 minutes’ drive from the residential zone.

The business will be owned by Doug Spencer of Spencer family, one of the richest families in the United States. Mr. Spencer has been associated with the family business of fast-food restaurants for the last 20 years after doing his Masters in Business Administration from the Harvard University. Due to the similar family business, Mr. Spencer knows exactly how to start a convenience store and he has all the resources needed for starting a convenience store .

Although there are hundreds of already established convenience stores we have several competitive advantages over other competitors. The first one is our mobile app which can be used to make payments, order the goods for home delivery, or pre-book the goods. This app is strategically built to facilitate the ever-busy working class of the society. Our second competitive edge will be the availability of everything, every time. Unlike other stores, we will make sure that our stock never runs out and everything our customers may need is available to us. Finally, our customer service will be the best in town and will also give us an edge over other convenience stores.

2.2 Management

The company will be managed by Mr. Spencer himself and he will be assisted by his friend Carl John. Carl is highly experienced in retail businesses and will serve as the Chief Executive Officer of the EasyShop. The store will remain open 24-7 and will be operated and managed by three shifts of workers. A law firm will be contracted for covering the legal aspects of the business and an insurance firm will be contacted for insuring the company.

The convenience store industry is one of the few industries which have seen a constant increase in revenue along with the increase in business locations with time. The total sales from the US convenience store industry increased by approximately $80 billion within the course of one year from 2015 to 2016. The number of convenience stores has increased by 63% during the last three decades and is still on the rise. The main reason behind this increase is that it is very easy to open a convenience store as you can see from the hundreds of convenience store examples present in every city of the United States. The actual challenge is to successfully manage that convenience store to yield profits from the start.

2.3 Customers

The company aims to serve the community living in the residential zones of the Manhattan borough and the people working in the commercial and business centers located near us. The community living in our vicinity is financially established so we hope to have a lot of sales as soon as we are launched. There are also a lot of working-class people who are extremely tight up with their busy routines and prefer to go to a place where they can find everything under a single roof. We will provide the perfect place to our busy customers where they can find a huge number of products as well as services. This diversity of products and services will be one of our primary competitive advantages over other competitors.

We will provide every basic necessity of life to our customers under a single roof so that they don’t have to visit various stores in search of their needed goods. Some categories of the products offered by us include but are not limited to fresh and packed foods, beverages, meat, dairy products, stationery, personal care, healthcare products, baby items, pet items, newspapers, magazines, batteries, greeting cards, lottery tickets etc. We will offer money transfer services and utilities bill payment services to our customers. We will also provide home delivery services for online purchases to the nearby resident community. Customers can also pre-book their goods by using our smartphone app.

2.4 Target of the Company

The target of the company is to become the best convenience store business in the New York City within next five years of our startup. Ronald Spencer aims to become one of the biggest convenience store chains in the New York City within the next ten years of our launch. This target can only be achieved by growing the sales at the forecasted rate. We also aim to balance the initial cost of the startup with earned profits by the end of the first year and open multiple stores by the end of five years in the New York City.

• Comprehensive planning of ‘everything’
• Hiring the best staff for operations
• Respecting our customers and making sure that they get what they want in the least time

Company Summary

3.1 company owner.

EasyShop will be owned by the Spencers, one of the richest families in the United States. Spencers are already operating a chain of fast food restaurants in North America but it was until this year that they have decided to enter the retail industry as well. The venture will be completely financed by the family while it will be led and operated by Doug Spencer.

Mr. Spencer is the eldest son of Ronald Spencer, the head of the family, and has been associated with the family business for the last 20 years after doing his Masters in Business Administration from the Harvard University. Mr. Spencer will be the General Manager of the business and will be assisted by his friend Carl John. John has served in multiple executive positions in various retail giants such as Wal-Mart, 7-Eleven, and Costco. For the last 6 years, John was serving in 7-Eleven as the Director Operations of the New York City.

3.2 Why the Business is being started

This business will basically provide a gateway for the Spencer family to enter the massive retail industry of the United States. Ronald had been planning this venture for a long time as it was undoubtedly the best way to invest the family’s wealth and profit earned via restaurants.

3.3 How the Business will be started

EasyShop will be initially launched as an open convenience store in the Manhattan borough of the New York City. A 15,000 square feet place has already been acquired on lease in the center of the main commercial district of downtown Manhattan. The place was formerly used as a furniture display showroom so a contracting firm has been hired to turn the place into a convenience store. A law firm, Wigdor LLP, has also been contracted for getting the permits and licenses from the city’s administration.

Spencer’s convenience store startup will be unique in many ways. It will remain open 24-7 and will be operated and managed by three shifts of workers with each shift working a standard eight hours a day. Mr. Spencer has planned everything about his business including the required equipment and inventory, and has hired experts from various fields to help him craft a detailed map about it. The financial experts have forecasted following costs for expenses, assets, investment, and loans for the Start-up.

The detailed start-up requirements, start-up funding, start-up expenses, total assets, total funding required, total liabilities, total planned investment, total capital and liabilities as forecasted by experts, is given below:

Services for customers

Being launched as one of the biggest convenience store business in the New York City, we plan to offer a huge number of products as well as services to our consumers. This diversity of products and services will be one of our primary competitive advantages over other competitors. We will provide every basic necessity of life to our customers under a single roof so that they don’t have to visit various stores in search of their needed goods. Some categories of the products offered by us include but are not limited to

• Meat – poultry, beef, lunch meat, pork
• Produce – fruits, vegetables
• Paper Goods – aluminum foil, sandwich bags paper towels, toilet paper
• Bread or Bakery products– sandwich loaves, tortillas, bagels, dinner rolls
• Baking Goods – cereals, pasta, mixes, flour, sugar
• Personal Care – shampoo, shaving cream, soap, hand soap
• Frozen Foods – waffles, vegetables, individual meals, ice cream
• Beverages – coffee, tea, juice, soda, drinks
• Canned or Jarred Goods – vegetables, spaghetti sauce, ketchup
• Dairy – cheese, eggs, milk, yogurt, butter
• Cleaners – all purpose, laundry detergent, dishwashing liquid and detergents
• Other – baby items, pet items, newspapers, magazines, batteries, greeting cards, lottery tickets

We will sell our products in the standard packaging sizes, quantity and quality as other as other convenience stores. We will sell the products of local as well as international brands such as Charmin, Stouffer’s, Frito-Lay, Jolly Green Coca-Cola, Giant etc. One of the biggest problems in opening a convenience store is to incorporate some innovation in your business to make it unique and better as compared to the existing and established businesses. Considering this aspect, we will also offer money transfer services and utilities bill payment services to our customers. Customers can also pre-book their goods by using our smartphone app. We will also provide home delivery services for online purchases to the nearby resident community. There will be no delivery charges for goods worth greater than or equal to $50.

Finally, we will offer ready-to-eat fast foods so that our customers can grab a bite despite their tight schedule.

Marketing Analysis of Convenience store business

The most important component of an effective convenience store business plan is its accurate marketing analysis that’s why Mr. Spencer acquired the services of marketing experts to help him through this phase. It is only after this stage that a good convenience store business plan could have been developed. After identifying the local market trends in the New York City, the marketing experts and analysts also helped him to select the best site for starting a convenience store business .

The success or failure of a convenience store totally depends upon its marketing strategy which can only be developed on the basis of accurate marketing analysis. There are four main steps to carry out an accurate marketing analysis which are to identify the current market trends of convenience store business, identify your target audience and potential customers, set out the business targets to achieve, and finally set the prices of your products and services. Marketing analysis is a must-do thing before you even think about how to start your own convenience store . It must be considered beforehand even if you are developing a small convenience store business plan .

5.1 Market Trends

The convenience store industry is one of the few industries which have seen a constant increase in revenue along with the increase in business locations with time. The total sales from the US convenience store industry generated in 2015 amounted to more than $603 billion while the sales exceeded $680 billion by the end of 2016. The sales increase by approximately $80 billion within the course of one year. Although these stats include the sales of the fuels since most of the convenience stores in the US primarily provide gas services but still merchandise makes a major chunk of these stats. As per other services provided by the convenience stores, the weekly wire transfers in 2015 were more than 5800.

The convenience store industry is subdivided according to the major categories of products it provides with the biggest being food service. Foodservice sales are growing to become the convenience store’s most profitable category, contributing 21.4% of sales as of 2016. Similarly, fresh fruits and vegetable sales (including salads and packaged products) also increased 10.3% to $362 million in 2014. The number of convenience stores has increased by 63% during the last three decades and, currently, they make up more than 34% of all retail outlets in the United States. After identifying these market trends, it is clearly evident that convenience store industry is always blooming and can be immensely profitable.

5.2 Marketing Segmentation

Our target market is the community living nearby at the 10 minutes’ drive from our store. The community consists of all types of people from varying backgrounds. As per the financial position, nearly half of the community has monthly income ranging from $40k to $50k while nearly 10% people have incomes even around $100,000. There are also a lot of working-class people who are extremely tight up with their busy routines and prefer to go to a place where they can find everything under a single roof.

For developing a good convenience store business model it was crucial to analyze the market segmentation of the future customers of our convenience store. A successful and efficient marketing strategy can only be developed after we completely know our potential customers. Our experts have identified the following type of target audience which can become the future consumers of our baby clothes:

The detailed marketing segmentation of our target audience is as follows:

5.1.1 Local Residents:

The first and the most numerous group of our customers will be the community living in the vicinity of our convenience store. These residents are financially stable and can become our potential customers of merchandise like food products and other accessories. These customers will also rely on us for money transfer and utilities bill payment facilities. This customer group will drive the most number of sales so our marketing strategy will be specifically built to attract this group towards us. Initially, we will also offer various promotional packages.

5.1.2 Working Class:

The second category includes the workers and employees who work in the businesses or offices located in the vicinity of our convenience store. Most of these workers have a tight routine and they prefer to get everything under a single roof as compared to visiting different stores. They want to shop as fast as they can without compromising on their busy schedule. Our convenience store is specifically designed while keeping such busy people in mind and the average time for shopping in our store will be around 3 to 4 minutes. Our ready-to-eat fast foods will always be ready for these people to pick up while on their way to their respective companies and offices.

5.1.3 Passers-by:

The third category includes those people who do not live or work near our convenience store but have come to the area for any business purpose or commercial activity. Most of the time these people need to pick some stuff for their homes while on the way to their respective destinations. They will also stop by us to grab some fast food or make some wire transfer. The detailed market analysis of our potential customers is given in the following table:

5.3 Business Target

We aim to become the best convenience store business of the New York City within next five years of our startup. Ronald Spencer aims to become one of the biggest convenience store chains in the New York City within the next ten years of our launch. Our main business targets to be achieved as milestones over the course of next three years are as follows:

• To achieve the net profit margin of $10k per month by the end of the first year, $15k per month by the end of the second year, and $25k per month by the end of the third year
• To balance the initial cost of the startup with earned profits by the end of the first year
• To open up two more stores by the end of three years, three more stores by the end of five years

5.4 Product Pricing

Product pricing is one of the most important factors in deciding the strategy for convenience store marketing . Selecting the price for products is a difficult task, especially for the startups, because one have to attract customers while yield profit at the same time. These two things cannot be achieved at the same time and the only way out is to select a compromised trade-off or balance between the two. After considering the market demands, we have priced all our products in the similar ranges as of our competitors except for some of our food products. Our food products of Spencer brand will be nearly 10% cheaper so as to attract customers toward us. The reason behind our pricing policy is to achieve the minimum attractive rate of return which would not be possible in case of offering our other products for low prices.

Great Work!!

Had the pleasure of working with Alex on a business plan for a new venture. The end result looks very professional. His communication is always prompt and he was very patient with my detailed requests. I would definitely work with this company in the future.

Like marketing analysis, sales strategy is also an important component of the business plan for a convenience store . After identifying the market trends, the market demand, and the potential customers of the startup, the next step is to develop an ingenious strategy to attract those customers toward us. Mr. Spencer carried out an extensive research about various marketing and advertising strategies being implemented on established grocery store business model before developing an effective sales strategy for EasyShop.

6.1 Competitive Analysis:

Convenience store industry is one of the biggest industries of the United States making up 34% of all retail stores located in the United States. There are over 150,000 convenience stores in the United States; likewise, there are hundreds of established convenience stores in the New York City that’s why we have a really tough competition ahead of us.

Considering this fact, we have already made preparations for entering the massive retail industry of the United States. Our biggest competitive edge over other competitors will be our mobile app which can be used to make payments, order the goods for home delivery, or pre-book the goods. By pre-booking the goods, you don’t have to spend time on searching for all the goods at the store as one of our salesmen will have already collected them for you to pick up on the way. We have strategically built this app to facilitate the ever-busy working class of the society.

Our second competitive edge will be the availability of everything, every time. Unlike other stores, we will make sure that our stock never runs out and everything our customers may need is available with us. We will provide all kind of goods as compared to conventional convenience stores. Finally, our customer service will be the best in town. We will treat every customer with utmost respect and make sure that our customers leave our stores with big smiles on their faces.

6.2 Sales Strategy

After carrying out a detailed grocery store industry analysis , our experts came up with the following brilliant ideas to advertise and sell ourselves.

• We will carry out a large-scale social media campaign for our advertisement.
• We will allow our customers to buy our products online through our Facebook page and mobile app. Customers can pay online, order or pre-book their required goods.
• We will offer various discounts and gifts on our products for the first month of our launch to encourage sales.

6.3 Sales Forecast

Considering our innovative app, the quality and availability of our products, and our unparalleled customer service, our sales pattern is expected to increase with years. By analyzing our market segmentation strategy, our experts have forecasted the following sales on a yearly basis which are summarized in the column charts.

The detailed information about sales forecast, total unit sales, total sales is given in the following table:

Personnel plan

The key to the success of a business is its careful planning in the initial stages. Just like the planning of other components, you must also prepare a personnel plan before you think about how to start a grocery store business . It is also an extremely important stage because success of any business significantly depends upon its employees. So you have to prepare a plan for the staff needed whether you are developing a convenience store business plan  for a small shop.

It is never easy to estimate the number and type of staff needed for a company before it is even launched therefore it is always better to seek the help of HR experts to get through this phase. Mr. Spencer acquired the services of experts to help him developed the following personnel plan for his company.

7.1 Company Staff

Mr. Spencer will act as the General Manager of the company while Carl John will serve as the Chief Executive Officer of the company. The company will initially hire following people in t:

• 1 Store Manager to manage the operations of the store
• 2 Administrators / Accountants to maintain financial records
• 4 Sales Executives responsible for marketing and discovering new ventures
• 10 Employees for operating and maintaining the store
• 2 Inventory Manager to manage the merchandise present in store and storage
• 1 Supply Chain Manager to purchase goods for the store
• 5 Drivers to transport products from storage to store and for delivering products to customers
• 4 Cleaners to keep the store clean at all times
• 1 Front Desk Officer to act as a receptionist
• 2 Security Officers

To ensure the best quality service, all employees will be selected through vigorous testing and will be trained for a month before starting their jobs.

7.2 Average Salary of Employees

The following table shows the forecasted data about employees and their salaries for next three years.

Financial Plan

After deciding the strategy and personnel plan of the company, the next step was to develop a detailed map about the financial projections covering all aspects of the company. Just like the planning of other aspects, you must also prepare a financial plan before you start thinking about how to start a convenience store business . The financial plan should craft a detailed map about the cost of startup, inventory, payroll, equipment, rent, utilities and how these costs will be covered with the earned profits. Before getting to think about how to start a convenience store, cost and profit analysis should be carried out.

Mr. Spencer hired experts to incorporate the financial aspect in the convenience store business plan . The financial plan outlines the development of the company over the next three years and is specifically developed to achieve both the company’s short-term and long-term objectives.

8.1 Important Assumptions

The company’s financial projections are forecasted on the basis of following assumptions. These assumptions are quite conservative and are also expected to show deviation but to a limited level such that the company’s major financial strategy will not be affected.

8.2 Brake-even Analysis

The following graph shows the company’s Brake-even Analysis.

8.3 Projected Profit and Loss

The following charts show the company’s expected Profit and Loss situation on the monthly and yearly basis.

8.3.1 Profit Monthly

The following graph shows the monthly profit, as forecasted by the company’s financial experts.

8.3.2 Profit Yearly

The following graph shows the yearly profit, as forecasted by the company’s financial experts.

8.3.3 Gross Margin Monthly

The following graph shows the monthly gross margin, as forecasted by the company’s financial experts.

8.3.4 Gross Margin Yearly

The following graph shows the yearly gross margin, as forecasted by the company’s financial experts.

The following table shows detailed information about profit and loss, and total cost of sales.

8.4 Projected Cash Flow

The following column diagram shows the projected cash flow.

8.5 Projected Balance Sheet

The following table shows detailed data about pro forma cash flow, subtotal cash from operations, subtotal cash received, sub-total spent on operations, subtotal cash spent. The following projected balance sheet shows data about total current assets, total long-term assets, total assets, subtotal current liabilities, total liabilities, total capital, total liabilities and capital.

8.6 Business Ratios

The following table shows data about business ratios, ratio analysis, total assets, net worth.

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Convenience Store Business

• Last Updated: May 24, 2020

Learn about the convenience store business industry and find information on how to start a convenience store or C-store . Don’t forget you can receive free or low-cost training and  free professional business advice , from  your local Small Business Development Center !

View our related business reports here: Food Industry Research and Beverage Industry Research

Get a free Convenience Store business plan template on our Business Plans page.

Convenience Store COVID-19 Resources

In response to the global COVID-19 pandemic, shelter-in-place orders and physical distancing measures have affected many businesses; here is a look at the impact to the Convenience Store industry . Convenience Stores were declared essential businesses when states began enforcing closures. However, operators were now subject to many new safety measures, both voluntary and not, including occupancy limits, requiring facial coverings to enter, sneeze guards, and wiping down surfaces multiple times during the day. Here are additional COVID-19 business resources specific to this industry:

• SBDCNet’s COVID-19 Small Business Resources
• SBDCNet’s COVID-19 Industry Resources
• NACS: Coronavirus Restrictions
• CSP: Coronavirus Safety Measure Survey
• C-Stores Pivot due to Coronavirus Outbreak

Convenience Store Industry Overview & Trends

Naics code: 445120 (no fuel), 447110 (with fuel); sic code: 5411.

This market research regarding the Convenience Store and Truck Stops excerpt is from First Research,  which also sells a full version of this report.

• “Companies in this industry operate retail locations that primarily sell fuel, groceries, cigarettes, and alcoholic beverages. Major US companies include 7-Eleven (the North American subsidiary of Seven Eleven Japan), Circle K (a division of Canada-based Couche-Tard), Casey’s General Stores, and Wawa. Economic growth, urbanization, and an increasing affinity for smaller store formats is driving growth in the global convenience store (c-store) sector. Worldwide c-store sales are expected to approach $5 trillion by 2022, according to a report from GlobalData. Japan, China, and emerging markets in Southeast Asia are among the fastest growing for c-stores.
• The US c-store and truck stop industry includes more than 155,000 stores, according to the National Association of Convenience Stores, with combined annual revenue of about $650 billion. The industry includes establishments that are gas station/c-store combinations, as well as c-stores that don’t sell fuel. Gas stations that don’t include c-stores are covered in a separate industry profile.
• Competitive Landscape: Consumer and commercial driving trends drive demand. The profitability of individual stores depends on competitive pricing, effective merchandising, and the ability to secure high-traffic locations. Large companies have advantages in purchasing and finance. Small companies can compete effectively by acquiring superior locations or offering specialized merchandise or services. The industry is fragmented: the top 50 US companies account for about 40% of industry sales. Single-store operators predominate, accounting for more than 60% of all convenience stores”

This Convenience Store market research report summary is from Euromonitor , which also sells a full version of this report.

• Alcohol Sales: Consumer awareness of the health risks and decreasing interest in tobacco and carbonated drinks has forced operators to refocus their sales strategies, having to deal with the decrease in revenue of two major product categories in their stores. A bright spot has appeared in alcohol sales. Many states have loosened various restrictions on these types of stores selling different kinds of alcohol. Combined with consumer desires for convenience in purchasing alcohol, sales have been bosted considerably.
• Foodservice Sales: For similar convenience reasons, many operators have found an additional bright spot in selling hot/prepared food and drinks such as coffee to customers. Corporate decisions and guidelines towards increasing the quality and value of in-store food selection have slowly been changing the negative stigma of “gas station food.” Many locations are having very successful in-store foodservice rebranding.

Convenience Store Business Customer Demographics

IBISWorld reports on the major market segments for Convenience Stores in the US. The full version of the report is available for purchase.

• Consumers below age 25 (10.6%): These consumers are the smallest share of the market mainly due to a lack of expendable income and/or access to transportation. However, the convenience of these stores and the specific product selection (candy/snacks/soda) compared to larger big box or grocery stores appeals to them and can make them frequent customers.
• Consumers between ages 25 and 44 (37.8%): Many of these consumers are young professionals or young families who value their time and convenience. With less brand loyalty than older groups, convenience stores are very attractive to this age group. The growth of in-store prepared food also appeals to them.
• Consumers aged between 45 and 64 (38.1%): With a larger amount of disposable income and a limited amount of time, this age bracket is a very large segment of the market. However, older customers in this bracket begin to prefer buying all of their needs at larger stores rather than smaller convenience stores.
• Consumers aged 65 and older (13.5%): As customers become retired, the time saving appeal of convenience stores becomes less of a selling point for them. In it’s place, they tend to value larger box stores or supermarkets that can also sell them products in one trip that convenience stores cannot, such as filling their prescriptions, home goods, and a broader selection of groceries. However, this segment does provide a large amount of smokers for operators to sell cigarettes to.

C-Store Business Startup Costs

According to Entrepreneur: Business Idea Center: Convenience Stores :

• “Startup Costs: $10,000 – $50,000
• Franchises Available? Yes
• Online Operation? Yes
• In spite of the rising popularity of internet shopping combined with home delivery of grocery and convenience items, starting and operating a ‘mini convenience store’ is still a good business venture to activate that has the potential to generate respectable profits. The name suggests it all. In order to succeed in this segment of the highly competitive retail industry, the store must be convenient. This means an easily accessible and highly visible business location, well-stocked with the most popular convenience products, and fast and friendly service.”

According to ProfitableVenture: Starting a Convenience Store Business :

• “As for technical requirements, you would need a number of equipment to manage your business especially for handling payments, inventory and preventing theft. Some of the equipment you might need include: RFID Scanners, Anti-theft devices, CCTV installations, POS Software and gadgets, Credit card terminals, Touch screen monitors, Customer pole displays, Carts, Sponge matting for fruits and vegetables, Plastic bags, Measuring Scales, Shelving, Freezers and refrigerators, Stationery, Office desk and chairs, Computers, Delivery vans
• You may not have to buy all of these items if you are starting really small or operating a limited selection convenience store but as your business continues to grow, you may need all of these and more.You can purchase the larger equipment from fairly-used dealers or on hire-purchase while some of the gadget suppliers can allow you to spread the costs over a few months.”

According to Chron: How to Stock a Convenience Store :

• “While the items in a convenience store don’t generally cost too much individually, costs do add up. Expect to pay at least $20,000 to stock even a small store.
• The number of products you choose to sell in your convenience store will influence the cost to stock the store. Very small convenience stores may stock as few as 500 stock-keeping units, or SKUs, according to the business appraisal firm JSO Valuation Group. JSO reports that a typical convenience store, though, carries nearly 2,500 different products, and larger convenience stores, such as those at major truck stops, may carry even more.”

How to Open a Convenience Store

Starting a Convenience Store Checklist

Convenience Store Business Plans

• Convenience Store and Gas Station
• Convenience Store Business Plan

Convenience Store Publications

• Convenience Store Decisions Magazine Online
• CSP Daily News
• Convenience Store News Online
• Convenience Store News for the Small Operator
• 27 Industry Marketing Tips from the Pros
• Gas and Convenience Store Marketing and Promotion Ideas

Convenience Store Associations

Trade associations often are excellent sources of information on an industry. Here are some relevant convenience store industry associations :

• National Association of Convenience Stores
• American Petroleum and Convenience Store Association
• State Associations for Convenience Stores
• National Association of Truck Stop Operators

Convenience Store Business Employment Trends

Understanding trends in your industry is important when running a convenience store, with your most common type of employee most likely being a cashier. Here is a labor market summary from the Bureau of Labor Statistics focused on Cashiers.

“ Work Environment

Cashiers held about 3.6 million jobs in 2018. The largest employers of cashiers were as follows:

Food and beverage stores – 27%

General merchandise stores – 21%

Gasoline stations – 17%

Restaurants and other eating places – 9%

Pharmacies and drug stores – 5%

The work is often repetitive, and cashiers spend most of their time standing behind counters or checkout stands. Dealing with dissatisfied customers can be stressful.

Job Outlook

Employment of cashiers is projected to decline 4 percent from 2018 to 2028.

Although retail sales are expected to increase over the next decade, employment of cashiers is expected to decline because of advances in technology, such as the use of self-service checkout stands in retail stores and increasing online sales.

The median hourly wage for cashiers was $11.37 in May 2019. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $8.73, and the highest 10 percent earned more than $15.04.”

Additional Resources

Already in business or thinking about starting your own small business? Check out our various small business resources:

• View more business reports here: Small Business Snapshots
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• View industry-specific research here: Market Research Links
• View business plans samples here: Sample Business Plans

Remember, you can also receive free professional business advice and free or low-cost business training from your  local Small Business Development Center !

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Convenience Store Business Plan Template

Convenience store business plan.

You’ve come to the right place to create your Convenience Store business plan.

We have helped over 5,000 entrepreneurs and business owners create business plans and many have used them to start or grow their convenience stores.

Below is a template to help you create each section of a business plan for your convenience store.

Executive Summary

Business overview.

Speedy Pete’s Convenience Store is a new convenience store located in Lansing, Michigan. The business is a newly established convenience store set up by its founder, Pete McGee. As a longtime retailer and employee of various convenience stores throughout Lansing, Pete realized that the small suburb that he resides in has grown too quickly to meet the demand of the area residents. There is an intersection that Pete has identified to be without a convenience store within 5 miles.

For the past ten years, Pete has been the area manager for 6 convenience stores for a locally-owned brand. Through his promotion, Pete oversaw the store managers and made sure each store was profitable, well stocked, and had the proper staff in place. Through his knowledge and training, Pete is well-equipped to be able to open his own convenience store and manage it properly.

Speedy Pete’s will offer gas as well as a car wash and air machine for tires. The store itself will offer alcoholic and non-alcoholic beverages, snacks, basic groceries, and ready-made coffee, donuts, and hot food. It will be the perfect stop for the area residents to stop in and purchase their products without having to go out of their way.

Product Offering

The following are the products that Speedy Pete’s Convenience Store will provide:

• Air Machine
• Non-alcoholic beverages
• Beer and Wine
• Basic Groceries
• Beverage Machine
• Freshly Made Hot Coffee
• Freshly Made Donuts/Cookies
• Freshly Made Hot Food (hot dogs, burritos, sandwiches)

Customer Focus

Speedy Pete’s Convenience Store will target all residents residing in southeastern Lansing and commuters traveling through the area. The customers will come from all demographics and ages.

Management Team

Speedy Pete’s Convenience Store will be owned and operated by Pete McGee. As a former area manager that oversaw 6 convenience stores in the area, Pete is able to open, train his employees, and ensure that the convenience store will run smoothly and efficiently. He is exceptionally knowledgeable in monitoring profit margins and ensuring the store is profitable.

Pete McGee has worked in the retail industry for most of his life. He has worked in convenience stores, home improvement stores, and large retailers. For the past ten years, Pete has been the area manager for 6 convenience stores for a locally-owned brand. Through his promotion, Pete oversaw the store managers and made sure each store was profitable, well stocked, and had the proper staff in place. Pete was exceptional at his job as he was able to monitor profit margins and teach his store managers which products to keep on the shelves and which products to get rid of. Through his knowledge and training, Pete is well-equipped to be able to open his own convenience store and manage it properly.

Success Factors

Speedy Pete’s Convenience Store will be able to achieve success by offering the following competitive advantages:

• Ideal location – there is not a convenience store within 5 miles of the newly developed neighborhood
• Large selection of snacks, beverages, and freshly made items
• The gas to be sold is from the highest quality gas distributor

Financial Highlights

Speedy Pete’s Convenience Store is seeking $400,000 in debt financing to open the convenience store. The funding will be dedicated towards securing the land, funding the construction, and purchasing the initial inventory. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff, utilities, and marketing costs for the convenience store. The breakout of the funding is below:

• Purchase 0.5 acre of retail land located at an intersection: $100,000
• Construction and build-out of the small convenience store: $100,000
• Three months of overhead expenses (payroll, rent, utilities): $150,000
• Marketing costs: $10,000
• Working capital: $40,000

Company Overview

Who is speedy pete’s convenience store.

Speedy Pete’s Convenience Store is a new convenience store located in Lansing, Michigan. The business is a newly established convenience store set up by its founder, Pete McGee. As a longtime retailer and employee of various convenience stores throughout Lansing, Pete realized that the small suburb that he resides in has grown too quickly to meet the demand of the area residents. There is an intersection that Pete has identified to be without a convenience store within 5 miles. The city just put up a traffic light because the traffic has increased significantly within the past two years. The intersection is at the bottom of a newly developed neighborhood so the convenience store will be passed by its residents multiple times throughout the day and will be accessible through two points of entry.

Speedy Pete’s Convenience Store History

Speedy Pete’s Convenience Store is owned and operated by Pete McGee. Pete is a former convenience store employee, manager, and area manager. He has experience in monitoring profit margins, managing employees, and managing inventories.

Since incorporation, Speedy Pete’s Convenience Store has achieved the following milestones:

• Registered Speedy Pete’s Convenience Store, LLC to transact business in the state of Michigan.
• Has contracts in place for his gas, grocery, and drink suppliers.
• Contacted an architectural and construction firm to begin the design and construction of the convenience store.
• Began recruiting a staff of employees to help him with the day to day operations.

Speedy Pete’s Convenience Store Products

The following will be the products Speedy Pete’s Convenience Store will provide:

Industry Analysis

Customer analysis, demographic profile of target market.

Speedy Pete’s Convenience Store will target all residents of Lansing Michigan. The target market will consist of area residents, students, and employees working in the area.

The precise demographics for Lansing, Michigan are:

• 1,006,032 residents
• 560,000 households
• 584 schools
• 300,084 area businesses
• 3 major highways within 20 miles

Customer Segmentation

Speedy Pete’s Convenience Store will primarily target the following customer profiles:

• Residents living in the area
• Employees working in the area
• Travelers driving through Lansing

Competitive Analysis

Direct and indirect competitors.

Speedy Pete’s Convenience Store will face competition from other companies with similar business profiles. A description of each competitor company is below.

Speed Demon Convenience Stores

Speed Demon is a gasoline-convenience store brand that has over 3,500 stores across the country. They service over 2 million customers everyday and offer a robust rewards program where customers are able to earn discounts on gas and products by being a frequent shopper. The stores include a Speedy Cafe that is a fast-casual dining option and is on track to open another 100 stores by the end of next year. The company is headquartered in Ohio and is a sub-organization with Marathon Petroleum.

9-29 Convenience Stores

9-29 Convenience Stores is a large name in the convenience-retailing industry. Based in Irving, Texas, 9-29 operates, franchises, and/or licenses more than 13,000 stores in the U.S. and Canada. The company offers cold drinks, candy, pizzas, groceries, tobacco items, lottery tickets, coffee, juices, sandwiches, ice creams, snacks, and other related items. The chain was founded in 1927.

A couple of the most popular items 9-29 offers are their large Slurpee drinks and large soft drink cups for its soda fountain machine. The cups offered are the largest on the market at 128 ounces.

Fast Time Convenience Stores

Fast Time Convenience Stores is an operator of a network of convenience stores and gas stations in the northeastern part of the United States. The company’s stores offer groceries, beverages, fresh food, car wash services, road transportation fuel, stationeries and other retail products. Fast Time was founded in 1958 and continues to operate from the original family that established it.

Most recently, Fast Time has attempted to grow its footprint to the midwestern states of the US. The company is currently conducting market research to see if the investment would be viable as those states tend to be saturated with a multitude of convenience store chains.

Competitive Advantage

Speedy Pete’s Convenience Store will be able to offer the following advantages over their competition:

Marketing Plan

Brand & value proposition.

Speedy Pete’s Convenience Store will offer the unique value proposition to its clientele:

• The location is strategically located in a convenience store desert where there is no other convenience store within 5 miles.
• Large selection of snacks, beverages, and freshly made hot food items.
• The store will contract with the highest quality fuel distributor.
• Pricing will be competitive and on par with other convenience store chains.

Promotions Strategy

The promotions strategy for Speedy Pete’s Convenience Store is as follows:

Speedy Pete’s will be located in a newly developed neighborhood where there are no other convenience stores in the area yet. The owner has identified a parcel of land in a highly trafficked area where a traffic light was just put up. The intersection sees thousands of residents and cars pass by on a daily basis.

Print Advertising

Speedy Pete’s Convenience Store will invest in professionally designed print ads to display in newspapers, paper programs,  or flyers to be handed out at local events.

Website/SEO Marketing

Speedy Pete’s Convenience Store will hire a third-party marketing company to design their print ads and design their website. The website will be well organized, informative, and list all the convenience store products they plan to offer. The website will also list their contact information and directions to the convenience store. The marketing company will also include SEO tactics so that anytime someone types in the Google or Bing search engine “Lansing convenience store” or “convenience store near me”, Speedy Pete’s Convenience Store will be listed at the top of the search results.

The owner will also hire the marketing company to design eye-catching billboard designs to be displayed in different parts of the city. The billboards will target the drivers and/or tourists that will be heading in the direction of the convenience store.

The pricing of Speedy Pete’s Convenience Store will be moderate and on par with competitors so customers feel they receive value when purchasing their convenience store products.

Operations Plan

The following will be the operations plan for Speedy Pete’s Convenience Store.

Operation Functions:

• Pete McGee will be the Owner and Operator of the company. He will oversee all staff, hire, train, and manage store inventory, and supplier contracts and relationships.
• Bob Jones – will be the Head Manager to be in charge of the convenience store when Pete is not there. He will also work closely with Pete to learn all aspects of managing a convenience store.
• Bookkeeper – Will be in charge of payroll, accounts receivable and payable, and tax payments.
• Staff of 3 – 4 employees to assist with customer service and cleaning.

Milestones:

Speedy Pete’s Convenience Store will have the following milestones complete in the next six months.

1/1/202X – Finalize purchase of retail land

2/15/202X – Begin construction on the convenience store

3/1/202X – Finalize contracts for gas and grocery supplier

4/15/202X – Purchase all store inventory and supplies

5/1/202X – Final walk through of convenience store

5/15/202X – Hire and train convenience store staff

6/1/202X – Speedy Pete’s Convenience Store opens for business

Speedy Pete’s Convenience Store will be owned and operated by Pete McGee, a lifelong Lansing resident who has extensive experience in the convenience store industry, having worked as an hourly employee and up to an area manager overseeing 6 stores.

Financial Plan

Key revenue & costs.

The revenue drivers for Speedy Pete’s Convenience Store are the revenues it will receive from the sales of gas, car washes, grocery, snacks, beverages, alcoholic beverages, and hot ready made food.

The cost drivers will be the overhead costs required in order to staff and maintain a profitable and successful convenience store. The expenses will be the payroll cost, land payment, utilities, store supplies and inventory, car wash maintenance, and marketing materials.

Funding Requirements and Use of Funds

Key assumptions.

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

• Number of Products Sold per Month: 10,300
• Average Price per Product: $5
• Number of Convenience Store Products Sold Per Year: 123,600

Financial Projections

Income statement, balance sheet, cash flow statement, convenience store business plan faqs, what is a convenience store business plan.

A convenience store business plan is a plan to start and/or grow your convenience store business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your Convenience Store business plan using our Convenience Store Business Plan Template here .

What are the Main Types of Convenience Stores?

There are a number of different kinds of convenience stores , some examples include: Traditional Convenience Store, Mini Convenience Store, Limited Selection Convenience Store, Expanded Convenience Store, Hyper Convenience Store, and Kiosk.

How Do You Get Funding for Your Convenience Store Business Plan?

Convenience Stores are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start a Convenience Store Business?

Starting a convenience store business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Convenience Store Business Plan - The first step in starting a business is to create a detailed convenience store start up business plan  that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.  

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your convenience store business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your convenience store business is in compliance with local laws.

3. Register Your Convenience Store Business - Once you have chosen a legal structure, the next step is to register your convenience store business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 

4. Identify Financing Options - It’s likely that you’ll need some capital to start your convenience store business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary Convenience Store Equipment & Supplies - In order to start your convenience store business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your convenience store business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful convenience store business:

• How to Start a Convenience Store Business

Convenience Store Business Plan Template [Updated 2023]

Convenience Store Business Plan

If you want to start a convenience store or expand your current business, you need a business plan.

The following sample business plan and template gives you the key elements to include in a winning business plan. It can be used to create a convenience store start up business plan or a plan to grow your existing business.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of a successful convenience store business plan. Once you create your plan, download it to PDF to show banks and investors.

I. Executive Summary II. Company Overview III. Industry Analysis IV. Customer Analysis V. Competitive Analysis VI. Marketing Plan VII. Operations Plan VIII. Management Team IX. Financial Plan

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Convenience Store Business Plan Home I. Executive Summary II. Company Overview III. Industry Analysis IV. Customer Analysis V. Competitive Analysis VI. Marketing Plan VII. Operations Plan VIII. Management Team IX. Financial Plan

Convenience Store Business Plan Template

Company analysis.

In your company analysis, you will detail the type of convenience store business you are operating.

For example, you might operate one of the following types:

• Traditional Convenience Store : the traditional convenience store is about 2,400 to 2,500 square feet in size and offer a product mix which includes dairy, bakery, snack foods, beverages, tobacco, grocery, health and beauty aids, confectionery, and perhaps prepared foods to go, fresh or frozen meats, gasoline, various services, and limited produce items. Most stores of this size have 6 to 12 striped parking spaces or some form of convenient pedestrian access. Hours are extended compared to average retailers with a large percentage open 24 hours per day.
• Mini Convenience Store : this type of convenience store is usually 800 to 1,200 square feet in size. Grocery selection and foodservice (beyond prepared sandwiches) is usually very thin. Open hours usually range from 18 to 24 hours.
• Limited Selection Convenience Store : this type of convenience store ranges from 1,500 to 2,200 square feet. They differ from the “mini convenience store” in a broader product mix and grocery offering (although still somewhat limited by traditional convenience store standards). Also, simple foodservice (hot dogs, nachos, popcorn, etc.) may be offered.
• Expanded Convenience Store : this type of convenience store is in the 2,800 to 3,600 square feet range. Such stores can accommodate more shelving for additional grocery products or room for significant fast food operations and seating.
• Hyper Convenience Store : this type of convenience store is very large (4k to 5k square feet), and usually offers an array of products and services arranged in departments. For example, such stores may offer variations such as a bakery, a sit-down restaurant area, or a pharmacy. Many of these locations do sell gasoline. The number of employees per shift can be large, particularly if a small restaurant is present. The number of parking spaces is substantial, especially since the amount of time the average customer spends in such an establishment can be significant.
• Kiosk : this type of convenience store is less than 800 square feet and is intended to provide some additional revenue beyond gasoline sales. Gasoline is always the focus of this operation with the owner usually being an oil company or petroleum marketer. The store sells only the fast-moving items found in traditional convenience stores (tobacco, beverages, snacks, and confectioneries).

In addition to explaining the type of convenience store business you operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to question such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include sales goals you’ve reached, new store openings, etc.

Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

CONVENIENCE STORE BUSINESS PLAN OUTLINE

• Convenience Store Business Plan Home
• 1. Executive Summary
• 2. Company Overview
• 3. Industry Analysis
• 4. Customer Analysis
• 5. Competitive Analysis
• 6. Marketing Plan
• 7. Operations Plan
• 8. Management Team
• 9. Financial Plan
• 10. Appendix
• Convenience Store Business Plan Summary

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Feasibility Analysis for Pet Store

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The U.S. Bureau of Labor Statistics reported about 25,900 general convenience stores in operation during 2008. These convenience stores range from small, limited inventory stores to large, high-volume locations. This fair amount of competition makes the convenience store business plan a necessity to ensure the store’s longevity and competitiveness.

Create the general business description for your convenience store. List the registered name and business structure of your business, such as sole proprietorship or Limited Liability Corporation. Use this section to summarize the convenience store’s financial outlook. Include a brief breakdown of the startup costs and equity needed for your store.

Identify the products and services that your convenience store will provide. Include a description of its general merchandise, along with any additional services that the convenience store will provide, such as lottery sales and deli items. Break the items into categories and detail each service.

Research the convenience store industry in your area as the information will assist you in completing a market analysis. Use resources such as Convenience Store News, the U.S. Bureau of Labor Statistics, U.S. Census and the Texas Grocery & Convenience Association for information. Seek assistance from the local U.S. Small Business Administration, if you encounter research difficulties.

Begin the marketing analysis with an overview of the industry’s economic outlook. Explain the current and forecast state of your area’s convenience store industry, the overall economic climate of the area and the target market, or customer profile, of the store’s intended customers. Follow the overview with a detailed analysis of the convenience store industry, your convenience store’s target market.

Include a competitive analysis. Display the number of convenience stores in your store’s area that will compete for the customer’s business. Identify your store’s strengths, weaknesses, opportunities and threats. Explain the strategies your business will use to compete with the competition while overcoming the identified weaknesses and threats.

Develop a marketing plan that will create maximum visibility for your convenience store. Identify the signage you will use to attract customers. Explain how your store will create and maintain regular customers, as well as walk-in traffic. Explain the pricing that your convenience store will use for its products and services. Include a condensed products and services list in this section.

Explain the convenience store’s organizational structure. Include an organizational chart for quick reference. Be sure to identify whether the staff are full-time or part-time employees. Include the salary information for each position, along with the costs for any benefits or training sessions, such as lottery or deli training.

Provide details on your convenience store’s location and operations. Give an exact address if the location has already been secured. List the store’s hours of operations, including weekend and holiday hours.

List the fixtures, equipment and furniture the store will need to operate efficiently, including cash registers, coolers and shelving. Identify the legal requirements that your store must meet and list them, along with their costs. Include requirements such as zoning laws, licensing and vending requirements, taxes and building lease information. List your supplier and merchandising information. Include each supplier’s costs, delivery fees and turnaround times.

Complete a profit and loss statement, cash flow analysis, balance sheet and personal financial statement. Use forecast and projected figures if your store has yet to open for business. Make reasonable and attainable assumptions. Include easy-to-read charts of your projections for quick reference.

Complete the executive summary and place it at the front of the business plan. Use this section to summarize the business plan’s information. Limit the executive summary to no more than two pages. Include a summary of the convenience store’s management team, mission statement and forecast sales goals.

• MasterCard International: The Plan
• The Finance Resource: Free Convenience Store Business Plan
• Valuation Resources: Convenience Stores
• Texas Grocery & Convenience Association
• Texas State Historical Association: National Convenience Stores

Writing professionally since 2004, Charmayne Smith focuses on corporate materials such as training manuals, business plans, grant applications and technical manuals. Smith's articles have appeared in the "Houston Chronicle" and on various websites, drawing on her extensive experience in corporate management and property/casualty insurance.

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MillenniumMart

Ownership & structure.

The company is a joint venture start-up company between the principals, Mr. Bean and his associates, and the management of Martin-Bower, one of the country’s largest and most successful food distributors. The company will be incorporated as a class C corporation in the state of Delaware with all shares held by private investors.

Martin-Bower will own 29% of MillenniumMart’s initial private shares with an option to acquire a further 11% shares based on growth and profitability after the first five years. MillenniumMart is expected to open its first store in downtown Manhattan in March of Year 1.

The company will be set up with a board of directors. Mr. James Bean, a former senior manager of Martin-Bower is slated for the position of CEO. Mrs. Linda Tuck has accepted the position of CFO.

Management Team

As stated earlier, MillenniumMart will be a joint venture between Mr. Wallace Bean and his associates and the management of Martin-Bower, a large food distribution company. The company officers will include Mr. Bean as CEO, Mrs. Linda Tuck as CFO, plus Mr. Minoru Takeda, who will be operations manager. Since the firm is a start-up, there will be little in the way of formal structure at first. The company also plans to hire three technicians who will service the automated store and a office manager. Additional personnel will be added once more stores are set up.

Mr. Wallace Bean is a graduate of the University of Texas, Austin’s school of business. He has worked for more than twelve years in the food distribution and grocery store industry, including positions as vice president of marketing for Fry’s Food and Drug, director of special projects for Giant Foods and more recently, senior vice president for Martin-Bower.

Mrs. Linda Tuck has a graduate degree in finance from Kansas State University and has eight years experience working for various companies. Her last job was as a financial analyst for Circle K corporation.

Mr Minoru Takeda is an MBA graduate from the University of Osaka. He has been operational manager for Kiyama Inc. for the past six years which operates approximately six hundred automated convenience stores throughout Japan. Mr. Takeda has moved to the United States for the express purpose of bringing this new type of store to this country.

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Convenience Store Business Plan

A convenience store can become a brilliant source of primary or secondary income if you do it right.

Also, the main benefit of a convenience store over a supermarket is that it is located around the corner of residential areas and faces lesser competition from retail giants.

And if you bring your unique touch to the business, who knows you might have a chain as big as seven-eleven. But for that, you’ll need a convenience store business plan.

A business plan helps you stand apart from your competitors and prepares you for challenges and opportunities alike.

Industry Overview

The convenience store industry generated a whopping amount of 532.9 billion dollars in 2020 and continues to grow at a rapid pace moving forward too.

As convenience stores provide access to a variety of things including packaged food, fresh groceries, and on-the-go meals, they are highly preferred amongst the office-going audience who are always running short of time.

Convenience stores are also a great option for people who have less time to shop and want to avoid spending long hours looking for stuff in a supermarket.

All these factors would contribute majorly towards the growth and expansion of convenience stores in the future.

But as the market is competitive, you’ll have to do something that makes your store stand out.

Things to Consider Before Writing Your Convenience Store Business Plan

Pick a legal structure.

The legal structure for your business not only decides the amount you’ll pay in taxes, but it also decides how much paperwork you’ll have to go through, if you’ll require legal help or not, what would be the liability on your assets, and so on.

Get the necessary permits

Several legal documents can help you avoid unnecessary legal hassles and carry out your business with ease. Several such documents can also help you avail yourself of tax and government benefits.

Choose the right location

The location can make or break a convenience store business. The accessibility and convenience your store provides to your target audience help your business thrive and succeed.

Offer something that helps your store stand out

As the convenience store business is quite competitive, your business must offer something that helps you stand apart from others who offer a similar product.

From taking inspiration from East Asian 7-elevens that offer microwaves and tables to eat food to offering vegan alternatives of snacks you can choose from a wide variety of things to help your business stand out.

Chalking out Your Business Plan

If you are planning to start a new grocery or convenience store , the first thing you will need is a business plan. Use our sample business plan created using Upmetrics business plan software to start writing your business plan in no time.

Before you start writing a business plan for your new convenience store, spend as much time as you can reading through some samples of the grocery or convenience store business plans.

Reading some sample business plans will give you a good idea of what you’re aiming for. Also, it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.

We have created this sample business plan for you to get a good idea about how perfect a convenience store business plan should look and what details you will need to include in your stunning business plan.

Convenience Store Business Plan Outline

This is the standard convenience store business plan outline which will cover all important sections that you should include in your business plan.

• Keys to Success
• Past Performance
• Products and services
• Industry Analysis
• Market Analysis
• Target Market Segment Strategy
• Competition and Buying Patterns
• Website Marketing Strategy
• Development Requirements
• SWOT Analysis
• Competitive Edge
• Marketing Strategy
• Sales Forecast
• Personnel Plan
• Important Assumptions
• Break-even Analysis
• Projected Profit and Loss
• Projected Cash Flow
• Projected Balance Sheet
• Business Ratios
• Profit and Loss
• Balance Sheet

After getting started with Upmetrics , you can copy this sample convenience store business plan into your business plan and modify the required information and download your convenience store business plan pdf or doc file. It’s the fastest and easiest way to start writing your business plan.

Business Planning Guide & Resources

We have plenty of  free business planning resources  available to help you with your planning. You can download our resources to learn all about business planning.

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