How to write a business plan for a convenience store?

convenience store business plan

Writing a business plan for a convenience store can be an intimidating task, especially for those just starting.

This in-depth guide is designed to help entrepreneurs like you understand how to create a comprehensive business plan so that you can approach the exercise with method and confidence.

We'll cover: why writing a convenience store business plan is so important - both when starting up, and when running and growing the business - what information you need to include in your plan, how it should be structured, and what tools you can use to get the job done efficiently.

Let's get started!

In this guide:

Why write a business plan for a convenience store?

What information is needed to create a business plan for a convenience store.

  • What goes in the financial forecast for a convenience store?
  • What goes in the written part of a convenience store business plan?
  • What tool can I use to write my convenience store business plan?

Being clear on the scope and goals of the document will make it easier to understand its structure and content. So before diving into the actual content of the plan, let's have a quick look at the main reasons why you would want to write a convenience store business plan in the first place.

To have a clear roadmap to grow the business

Small businesses rarely experience a constant and predictable environment. Economic cycles go up and down, while the business landscape is mutating constantly with new regulations, technologies, competitors, and consumer behaviours emerging when we least expect it.

In this dynamic context, it's essential to have a clear roadmap for your convenience store. Otherwise, you are navigating in the dark which is dangerous given that - as a business owner - your capital is at risk.

That's why crafting a well-thought-out business plan is crucial to ensure the long-term success and sustainability of your venture.

To create an effective business plan, you'll need to take a step-by-step approach. First, you'll have to assess your current position (if you're already in business), and then identify where you'd like your convenience store to be in the next three to five years.

Once you have a clear destination for your convenience store, you'll focus on three key areas:

  • Resources: you'll determine the human, equipment, and capital resources needed to reach your goals successfully.
  • Speed: you'll establish the optimal pace at which your business needs to grow if it is to meet its objectives within the desired timeframe.
  • Risks: you'll identify and address potential risks you might encounter along the way.

By going through this process regularly, you'll be able to make informed decisions about resource allocation, paving the way for the long-term success of your business.

To get visibility on future cash flows

If your small convenience store runs out of cash: it's game over. That's why we often say "cash is king", and it's crucial to have a clear view of your convenience store's future cash flows.

So, how can you achieve this? It's simple - you need to have an up-to-date financial forecast.

The good news is that your convenience store business plan already includes a financial forecast (which we'll discuss further in this guide). Your task is to ensure it stays current.

To accomplish this, it's essential to regularly compare your actual financial performance with what was planned in your financial forecast. Based on your business's current trajectory, you can make adjustments to the forecast.

By diligently monitoring your convenience store's financial health, you'll be able to spot potential financial issues, like unexpected cash shortfalls, early on and take corrective actions. Moreover, this practice will enable you to recognize and capitalize on growth opportunities, such as excess cash flow enabling you to expand to new locations.

To secure financing

Whether you are a startup or an existing business, writing a detailed convenience store business plan is essential when seeking financing from banks or investors.

This makes sense given what we've just seen: financiers want to ensure you have a clear roadmap and visibility on your future cash flows.

Banks will use the information included in the plan to assess your borrowing capacity (how much debt your business can support) and your ability to repay the loan before deciding whether they will extend credit to your business and on what terms.

Similarly, investors will review your plan carefully to assess if their investment can generate an attractive return on investment.

To do so, they will be looking for evidence that your convenience store has the potential for healthy growth, profitability, and cash flow generation over time.

Now that you understand why it is important to create a business plan for a convenience store, let's take a look at what information is needed to create one.

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Writing a convenience store business plan requires research so that you can project sales, investments and cost accurately in your financial forecast.

In this section, we cover three key pieces of information you should gather before drafting your business plan!

Carrying out market research for a convenience store

Carrying out market research before writing a business plan for a convenience store is essential to ensure that the financial projections are accurate and realistic.

Market research helps you gain insight into your target customer base, competitors, pricing strategies and other key factors which can have an impact on the commercial success of your business.

In particular, it is useful in forecasting revenue as it provides valuable data regarding potential customers’ spending habits and preferences.

You could discover that customers may be looking for more healthy snack options, such as nuts, yogurt, and granola bars. Additionally, customers might be interested in more convenient grab-and-go meal options, such as pre-made sandwiches and salads.

This information can then be used to create more accurate financial projections which will help investors make informed decisions about investing in your convenience store.

convenience store business plan: successful entrepreneur

Developing the sales and marketing plan for a convenience store

Budgeting sales and marketing expenses is essential before creating a convenience store business plan.

A comprehensive sales and marketing plan should provide an accurate projection of what actions need to be implemented to acquire and retain customers, how many people are needed to carry out these initiatives, and how much needs to be spent on promotions, advertising, and other aspects.

This helps ensure that the right amount of resources is allocated to these activities in order to hit the sales and growth objectives forecasted in your business plan.

The staffing and equipment needs of a convenience store

As you embark on starting or expanding your convenience store, having a clear plan for recruitment and capital expenditures (investment in equipment and real estate) is essential for ensuring your business's success.

Both the recruitment and investment plans must align with the timing and level of growth projected in your forecast, and they require appropriate funding.

A convenience store might incur staffing costs such as wages for cashiers, stockers, and managers. They may also need to buy equipment such as cash registers, shelving units, and refrigerators. Additionally, they may need to pay for other supplies such as cleaning supplies, paper towels, and food packaging.

To create a realistic financial forecast, you also need to consider other operating expenses associated with the day-to-day running of your business, such as insurance and bookkeeping.

With all the necessary information at hand, you are ready to begin crafting your business plan and developing your financial forecast.

What goes into your convenience store's financial forecast?

The financial forecast of your convenience store's business plan will enable you to assess the growth, profitability, funding requirements, and cash generation potential of your business in the coming years.

The four key outputs of a financial forecast for a convenience store are:

  • The profit and loss (P&L) statement ,
  • The projected balance sheet ,
  • The cash flow forecast ,
  • And the sources and uses table .

Let's look at each of these in a bit more detail.

The projected P&L statement

Your convenience store forecasted P&L statement enables the reader of your business plan to get an idea of how much revenue and profits your business is expected to make in the near future.

forecasted profit and loss statement in a convenience store business plan

Ideally, your reader will want to see:

  • Growth above the inflation level
  • Expanding profit margins
  • Positive net profit throughout the plan

Expectations for an established convenience store will of course be different than for a startup. Existing businesses which have reached their cruising altitude might have slower growth and higher margins than ventures just being started.

The forecasted balance sheet of your convenience store

The projected balance sheet of your convenience store will enable the reader of your business plan to assess the overall financial health of your business.

It shows three elements: assets, liabilities and equity:

  • Assets: are productive resources owned by the business, such as equipment, cash, and accounts receivable (money owed by clients).
  • Liabilities: are debts owed to creditors, lenders, and other entities, such as accounts payable (money owed to suppliers).
  • Equity: includes the sums invested by the shareholders or business owners and the profits and losses accumulated by the business to date (which are called retained earnings). It is a proxy for the value of the owner's stake in the business.

projected balance sheet in a convenience store business plan example

Analysing your convenience store projected balance sheet provides an understanding of your convenience store's working capital structure, investment and financing policies.

In particular, the readers of your plan can compare the level of financial debt on the balance sheet to the equity value to measure the level of financial risk (equity doesn't need to be reimbursed, while financial debt must be repaid, making it riskier).

They can also use your balance sheet to assess your convenience store's liquidity and solvency:

  • A liquidity analysis: focuses on whether or not your business has sufficient cash and short-term assets to cover its liabilities due in the next 12 months.
  • A solvency analysis: takes and longer view to assess whether or not your business has the capacity to repay its debts over the medium-term.

The cash flow forecast

As we've seen earlier in this guide, monitoring future cash flows is the key to success and the only way of ensuring that your convenience store has enough cash to operate.

As you can expect showing future cash flows is the main role of the cash flow forecast in your convenience store business plan.

example of projected cash flow forecast in a convenience store business plan

It is best practice to organise the cash flow statement by nature in order to show the cash impact of the following areas:

  • Cash flow generated from operations: the operating cash flow shows how much cash is generated or consumed by the business's commercial activities
  • Cash flow from investing activities: the investing cash flow shows how much cash is being invested in capital expenditure (equipment, real estate, etc.) either to maintain the business's equipment or to expand its capabilities
  • Cash flow from financing activities: the financing cash flow shows how much cash is raised or distributed to financiers

Looking at the cash flow forecast helps you to make sure that your business has enough cash to keep running, and can help you anticipate potential cash shortfalls.

Your convenience store business plan will normally include both yearly and monthly cash flow forecasts so that the readers can view the impact of seasonality on your business cash position and generation.

The initial financing plan

The sources and uses table or initial financing plan is a key component of your business plan when starting a convenience store.

It shows where the capital needed to set up the business will come from (sources) and how it will be spent (uses).

sources and uses table in a convenience store business plan

This table helps size the investment required to set up the convenience store, and understand how risks will be distributed between the business owners, and the financiers.

The sources and uses table also highlights what the starting cash position will be. This is key for startups as the business needs to have sufficient funding to sustain operations until the break-even point is reached.

Now that you have a clear understanding of what will go into the financial forecast of your convenience store business plan, let's have a look at the written part of the plan.

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The written part of a convenience store business plan

The written part of the business plan is where you will explain what your business does and how it operates, what your target market is, whom you compete against, and what strategy you will put in place to seize the commercial opportunity you've identified.

Having this context is key for the reader to form a view on whether or not they believe that your plan is achievable and the numbers in your forecast realistic.

The written part of a convenience store business plan is composed of 7 main sections:

  • The executive summary
  • The presentation of the company
  • The products and services
  • The market analysis
  • The strategy
  • The operations
  • The financial plan

Let's go through the content of each section in more detail!

1. The executive summary

The executive summary, the first section of your convenience store's business plan, serves as an inviting snapshot of your entire plan, leaving readers eager to know more about your business.

To compose an effective executive summary, start with a concise introduction of your business, covering its name, concept, location, history, and unique aspects. Share insights about the services or products you intend to offer and your target customer base.

Subsequently, provide an overview of your convenience store's addressable market, highlighting current trends and potential growth opportunities.

Then, present a summary of critical financial figures, such as projected revenues, profits, and cash flows.

You should then include a summary of your key financial figures such as projected revenues, profits, and cash flows.

Lastly, address any funding needs in the "ask" section of your executive summary.

2. The presentation of the company

In your convenience store business plan, the second section should focus on the structure and ownership, location, and management team of your company.

In the structure and ownership part, you'll provide an overview of the business's legal structure, details about the owners, and their respective investments and ownership shares. This clarity is crucial, especially if you're seeking financing, as it helps the reader understand which legal entity will receive the funds and who controls the business.

Moving on to the location part, you'll offer an overview of the company's premises and their surroundings. Explain why this particular location is of interest, highlighting factors like catchment area, accessibility, and nearby amenities.

When describing the location of your convenience store to a third-party financier, you may want to emphasize the area's high rate of foot traffic. You could also discuss the potential for drawing customers from nearby neighborhoods. Additionally, you may want to highlight any amenities, such as public transport or parking, that may draw more customers to the store. Finally, you might mention any other nearby retailers that may benefit from the increased traffic that your store will bring.

Finally, you should introduce your management team. Describe each member's role, background, and experience.

Don't forget to emphasize any past successes achieved by the management team and how long they've been working together. Demonstrating their track record and teamwork will help potential lenders or investors gain confidence in their leadership and ability to execute the business plan.

3. The products and services section

The products and services section of your business plan should include a detailed description of the offerings that your company provides to its customers. 

For example, your convenience store might offer a variety of snacks, drinks, and other convenience items to its customers, such as chips, candy, pre-packaged sandwiches, energy drinks, cigarettes, and lottery tickets. These items provide customers with quick and easy access to items they need without having to go to a traditional grocery store. Additionally, the convenience store could provide other services such as a car wash, ATM access, or a copy center to help customers get their tasks done quickly and conveniently.

When drafting this section, you should be precise about the categories of products or services you sell, the types of customers you are targeting and how customers can buy them.

convenience store business plan: products and services section

4. The market analysis

When you present your market analysis in your convenience store business plan, it's crucial to include detailed information about customers' demographics and segmentation, target market, competition, barriers to entry, and any relevant regulations.

The main objective of this section is to help the reader understand the size and attractiveness of the market while demonstrating your solid understanding of the industry.

Begin with the demographics and segmentation subsection, providing an overview of the addressable market for your convenience store, the key trends in the marketplace, and introducing different customer segments along with their preferences in terms of purchasing habits and budgets.

Next, focus on your target market, zooming in on the specific customer segments your convenience store aims to serve and explaining how your products and services fulfil their distinct needs.

For example, your target market might include busy professionals who need quick and convenient access to food and other essentials. They don't have time to shop at a large grocery store, but they still need to pick up a few items. This segment of customers is likely to appreciate the convenience of a nearby store where they can quickly grab what they need and check out quickly.

Then proceed to the competition subsection, where you introduce your main competitors and highlight what sets you apart from them.

Finally, conclude your market analysis with an overview of the key regulations applicable to your convenience store.

5. The strategy section

When crafting the strategy section of your business plan for your convenience store, it's important to cover several key aspects, including your competitive edge, pricing strategy, sales & marketing plan, milestones, and risks and mitigants.

In the competitive edge subsection, clearly explain what sets your company apart from competitors. This is particularly critical if you're a startup, as you'll be trying to establish your presence in the marketplace among entrenched players.

The pricing strategy subsection should demonstrate how you aim to maintain profitability while offering competitive prices to your customers.

For the sales & marketing plan, outline how you plan to reach and acquire new customers, as well as retain existing ones through loyalty programs or special offers.

In the milestones subsection, detail what your company has achieved thus far and outline your primary objectives for the coming years by including specific dates for expected progress. This ensures everyone involved has clear expectations.

Lastly, in the risks and mitigants subsection, list the main risks that could potentially impact the execution of your plan. Explain the measures you've taken to minimize these risks. This is vital for investors or lenders to feel confident in supporting your venture - try to proactively address any objection they might have.

One of the risks your convenience store may face is theft. There is a possibility that customers may try to steal items from the store, either by taking them out of the store without paying, or by using counterfeit money. Having a security system in place, as well as training staff to be vigilant, may help to mitigate this risk. Another risk your convenience store may face is cyber security breaches. Your store may keep customer data, such as credit card numbers, which could be vulnerable to being accessed or stolen by hackers. Having strong security protocols in place, such as firewalls and encryption, as well as regularly monitoring your system, could help protect your store from this type of risk.

6. The operations section

The operations of your convenience store must be presented in detail in your business plan.

The first thing you should cover in this section is your staffing team, the main roles, and the overall recruitment plan to support the growth expected in your business plan. You should also outline the qualifications and experience necessary to fulfil each role, and how you intend to recruit (using job boards, referrals, or headhunters).

You should then state the operating hours of your convenience store - so that the reader can check the adequacy of your staffing levels - and any plans for varying opening times during peak season. Additionally, the plan should include details on how you will handle customer queries outside of normal operating hours.

The next part of this section should focus on the key assets and IP required to operate your business. If you depend on any licenses or trademarks, physical structures (equipment or property) or lease agreements, these should all go in there.

You could have physical assets such as the building and equipment of the store, as well as intellectual property such as your brand logo, slogans, and any trademarks or patents associated with the store. You might also have a customer loyalty program or an app that could be considered intellectual property.

Finally, you should include a list of suppliers that you plan to work with and a breakdown of their services and main commercial terms (price, payment terms, contract duration, etc.). Investors are always keen to know if there is a particular reason why you have chosen to work with a specific supplier (higher-quality products or past relationships for example).

7. The presentation of the financial plan

The financial plan section is where we will include the financial forecast we talked about earlier in this guide.

Now that you have a clear idea of the content of a convenience store business plan, let's look at some of the tools you can use to create yours.

What tool should I use to write my convenience store's business plan?

In this section, we will be reviewing the two main solutions for creating a convenience store business plan:

  • Using specialized online business plan software,
  • Outsourcing the plan to the business plan writer.

Using an online business plan software for your convenience store's business plan

Using online business planning software is the most efficient and modern way to write a convenience store business plan.

There are several advantages to using specialized software:

  • You can easily create your financial forecast by letting the software take care of the financial calculations for you without errors
  • You are guided through the writing process by detailed instructions and examples for each part of the plan
  • You can access a library of dozens of complete business plan samples and templates for inspiration
  • You get a professional business plan, formatted and ready to be sent to your bank or investors
  • You can easily track your actual financial performance against your financial forecast
  • You can create scenarios to stress test your forecast's main assumptions
  • You can easily update your forecast as time goes by to maintain visibility on future cash flows
  • You have a friendly support team on standby to assist you when you are stuck

If you're interested in using this type of solution, you can try The Business Plan Shop for free by signing up here .

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Screenshot from The Business Plan Shop's Financial Forecasting Software

Hiring a business plan writer to write your convenience store's business plan

Outsourcing your convenience store business plan to a business plan writer can also be a viable option.

These writers possess valuable experience in crafting business plans and creating accurate financial forecasts. Additionally, enlisting their services can save you precious time, enabling you to concentrate on the day-to-day operations of your business.

It's important to be mindful, though, that hiring business plan writers comes with a cost. You'll be paying not just for their time but also for the software they use, and their profit margin.

Based on experience, a complete business plan usually requires a budget of at least £1.5k ($2.0k) excluding tax, and more if revisions are needed after initial meetings with lenders or investors - changes often arise following these discussions.

When seeking investment, be cautious about spending too much on consulting fees. Investors prefer their funds to contribute directly to business growth. Thus, the amount you spend on business plan writing services and other consulting services should be negligible compared to the amount you raise.

Another aspect to consider is that while you'll receive the output of the business plan, you usually won't own the actual document. It will be saved in the consultant's business plan software, which will make updating the plan challenging without retaining the consultant on a retainer.

Given these factors, it's essential to carefully weigh the pros and cons of outsourcing your convenience store business plan to a business plan writer and decide what best suits your business's unique needs.

Why not create your convenience store's business plan using Word or Excel?

I must advise against using Microsoft Excel and Word (or their Google, Apple, or open-source equivalents) to write your convenience store business plan. Let me explain why.

Firstly, creating an accurate and error-free financial forecast on Excel (or any spreadsheet) is highly technical and requires a strong grasp of accounting principles and financial modelling skills. It is, therefore, unlikely that anyone will fully trust your numbers unless you have both a degree in finance and accounting and significant financial modelling experience, like us at The Business Plan Shop.

Secondly, relying on spreadsheets is inefficient. While it may have been the only option in the past, technology has advanced significantly, and software can now perform these tasks much faster and with greater accuracy. With the rise of AI, software can even help us detect mistakes in forecasts and analyze the numbers for better decision-making.

And with the rise of AI, software is also becoming smarter at helping us detect mistakes in our forecasts and helping us analyse the numbers to make better decisions.

Moreover, software makes it easier to compare actuals versus forecasts and maintain up-to-date forecasts to keep visibility on future cash flows, as we discussed earlier in this guide. This task is cumbersome when using spreadsheets.

Now, let's talk about the written part of your convenience store business plan. While it may be less error-prone, using software can bring tremendous gains in productivity. Word processors, for example, lack instructions and examples for each part of your business plan. They also won't automatically update your numbers when changes occur in your forecast, and they don't handle formatting for you.

Overall, while Word or Excel may seem viable for some entrepreneurs to create a business plan, it's by far becoming an antiquated way of doing things.

  • Using business plan software is a modern and cost-effective way of writing and maintaining business plans.
  • A business plan is not a one-shot exercise as maintaining it current is the only way to keep visibility on your future cash flows.
  • A business plan has 2 main parts: a financial forecast outlining the funding requirements of your convenience store and the expected growth, profits and cash flows for the next 3 to 5 years; and a written part which gives the reader the information needed to decide if they believe the forecast is achievable.

We hope that this in-depth guide met your expectations and that you now have a clear understanding of how to write your convenience store business plan. Do not hesitate to contact our friendly team if you have questions additional questions we haven't addressed here.

Also on The Business Plan Shop

  • How to write a business plan to secure a bank loan?
  • Key steps to write a business plan?
  • Top mistakes to avoid in your business plan

Do you know entrepreneurs interested in starting or growing a convenience store? Share this article with them!

Guillaume Le Brouster

Founder & CEO at The Business Plan Shop Ltd

Guillaume Le Brouster is a seasoned entrepreneur and financier.

Guillaume has been an entrepreneur for more than a decade and has first-hand experience of starting, running, and growing a successful business.

Prior to being a business owner, Guillaume worked in investment banking and private equity, where he spent most of his time creating complex financial forecasts, writing business plans, and analysing financial statements to make financing and investment decisions.

Guillaume holds a Master's Degree in Finance from ESCP Business School and a Bachelor of Science in Business & Management from Paris Dauphine University.

Published on 15 Nov 2023 , last update on 27 Nov 2023 , as per our editorial standards .

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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

Convenience Store Business Plan

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
  • Business Plan for Investors
  • SBA Business Plan

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Convenience Store Business Plan Sample

JAN.04, 2018

convenience store business plan

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.

Convenience Store Business Plan - 3 Years Profit Forecast

  • 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.

Convenience Store Business Plan - Startup Cost

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:

Convenience Store Business Plan - Market Segmentation

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.

Convenience Store Business Plan - Unit Sales

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.

Convenience Store Business Plan - 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.

Convenience Store Business Plan - PROFIT MONTHLY

8.3.2 Profit Yearly

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

Convenience Store Business Plan - PROFIT YEARLY

8.3.3 Gross Margin Monthly

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

Convenience Store Business Plan - GROSS MARGIN MONTHLY

8.3.4 Gross Margin Yearly

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

Convenience Store Business Plan - GROSS MARGIN YEARLY

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.

Convenience Store Business Plan - Projected Cash Flow Diagram

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 Plan

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MillenniumMart

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">, sample plan information.

[This sample business plan is based on one from several years ago, valid then, and still useful as an illustration of what a business plan contains and what issues it covers. It is not valid for information purposes today.]

Opportunity

Grocery shopping has become commonplace, as simple and expected as getting gas or needing to feed yourself and your family members. People want to come in, grab things, and get out and move on with their day. Having to be polite or ask for things will only hinder their progress

MillenniumMart is the convenience store of the 21st Century future, fulfilling a need that will continue to exist into the future – the need for speed. MillenniumMart will be the first fully automated, 24 hour convenience store that is more like an enormous dispensing machine than the traditional store.

Convenience store industry sales rose 8.6% to $86.3 billion. Overall U.S. retail sales grew by only 6.3%, and grocery sales followed with 2.4% growth, proving once again that the convenience store industry has become a powerful force in U.S. retailing.

Pre-tax profit margin in the convenience store industry was the highest in 15 years (1.8%). The  results confirm that a new, upward trend is emerging. This upward trend is based on several factors, and occurred along with a slow rebound in the general economy.

Merchandise sales per customer increased 7.4% in last year suggesting that convenience stores are placing higher priority in filling the customers’ needs. Companies that align themselves properly to fill those needs will be successful in the future.

Competition

7-11 holds approximately 30% of the industry market, and in 20xx their net income was $160 million. Other competitors include Circle K, Fastrip, and any of the 85 chain grocery establishments on the east coast.

MillenniumMart’s primary objective is to create a new and revolutionary distribution outlet that will significantly reduce prices for its customers and provide greater services with an equal level of quality. The company seeks to be first to market with this daring new idea so as to capture market share and create greater than average profits.

Expectations

We are an automated market which lowers our cost of operations. We will be able to sustain our cost after yr 1. We can pay back our investors as well as own our equipment in year 2. Starting in year 3 employees and owners will get dividends

Financial Highlights by Year

Financing needed.

We will be getting $260000:

Private Investors $150,000

Martin-Bower management $110,000

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Convenience Store Business Plan

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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 7-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.

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business plan of a convenience store

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.

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Download a sample convenience store business plan

Need help writing your business plan from scratch? Here you go;  download our free convenience store business plan pdf  to start.

It’s a modern business plan template specifically designed for your convenience store business. Use the example business plan as a guide for writing your own.

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Download Convenience Store Business Plan

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Convenience Store Business Plan Template

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

Over the past 20+ years, we have helped over 7,000 entrepreneurs and business owners create business plans to start and grow their convenience stores.

Below are links to each section of your convenience store business plan template :

Next Section: Executive Summary >

Convenience Store Business Plan FAQs

What is the easiest way to complete my convenience store business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily complete your Convenience store Business Plan.

Where Can I Get a Convenience Store Business Plan PDF?

You can download our Convenience Store business plan PDF  here. This is a business plan template you can use in PDF format.

What Is a Convenience Store Business Plan?

A business plan provides a snapshot of your convenience store as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why Do You Need a Business Plan?

If you’re looking to start a convenience store or grow your existing convenience store you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your convenience store in order to improve your chances of success. Your convenience store business plan is a living document that should be updated annually as your business grows and changes.

What Are the Sources of Funding for a Convenience store?

Convenience stores are usually funded through small business loans, personal savings, credit card financing and/or angel investors.

What Products Should You Include in Your Convenience Store?

Many aspects of your business plan for a convenience store hinge on the choice of products for the store to carry. Certainly, this should be based on the customers you seek to reach with your store. Here are some other considerations that should go into the choice of the product line.

Level of Variety

With a high level of product variety (a broad product line), your store may be sought out by more customers who may find what they need more often, on average, leading to increased revenues. However, this benefit carries with it increased storage costs for the additional inventory that isn’t placed directly on shelves, especially items which sell fast. The storage costs include the rent for storage space or a storage room at the store and all of the labor associated with tracking and finding items in storage. There is also a need for more shelf space which may require more display units and even a larger store and higher rent. With more items to track and constantly restock, as well as the difficulty in projecting sales for a specific item, there is a greater chance of stocking out on any specific item. In those cases, hopefully you carry similar items that a customer might buy as a substitute.

With low variety (a narrow product line), the costs associated with stock-outs, storage, and shelf space are reduced somewhat. However, you will turn away more customers who cannot find the exact item they are seeking and will not accept substitutes.

Pricing For Convenience

Convenience stores, focused on quick purchases to fill a specific customer need, whether it is to change a light bulb or solve a sugar craving, offer their convenience in the form of a smaller store by pricing at a premium to what a customer would pay in a larger store like a supermarket, chain drug store, or hardware store. Customers are willing to pay 10% more for an item (or even higher), for example, to avoid a longer wait in line and longer travel time to reach the larger store.

In choosing the products to carry, you must examine the cost of purchasing in low quantities and make sure you can price high enough to cover the higher unit cost you will incur over what a larger store might. Products that are too expensive to buy in low quantities will not be feasible for this reason, as there is a limit to the price you can charge and expect to sell the product at.

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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Convenience Store Business Plan Template

Getting your own convenience store business off the ground requires a business plan. here is a corner store business plan template that includes the important elements you need to include in your business plan., fill the form to download business plan templates.

To ensure your convenience store business success in this highly competitive market, you need a properly structured business plan. With over 12 years of experience, we have helped over 5,000 entrepreneurs create business plans to start and grow their convenience store business. If this is your first time writing a business plan , we’ll walk you through these sections and give you some key things to consider.

Convenience Store Industry Overview

The Convenience Stores industry sells basic food, beverage, and tobacco merchandise in convenient locations that are generally open late.

Convenience stores have withstood fierce competition by offering fresh and healthy products, value, and convenience.

Food industry operators are increasingly focusing on quick and easy meals as opposed to cigarettes and have shifted product mixes to include food service products that are more profitable.

According to IBISWorld, cigarette unit sales will decline over the next five years due to health concerns and higher prices.

While the sales of cigarette products are expected to decline, convenience and fresh food will boost revenue and profit. Over the five years to 2027, revenue is projected to increase by 1.1% annually to $39.3 billion.

Key Success Factors for Convenience Store Business

There are 6 factors that can help you boost profitability, efficiency, and ultimately success in the convenience store industry despite the challenges.

Key markets nearby: To provide ease of access, convenience stores should be located near residential areas. The location should also be far from other food stores, such as supermarkets and fast food chains.

Stock control ability: The operator must ensure that popular products are never out of stock while minimizing unnecessary stock buildup.

Attractive product presentation: A store’s layout must make it easy for shoppers to find products. Convenience stores also attract shoppers through their design and cleanliness, as well as product selection.

Maintaining excellent customer relations: To ensure repeat purchases, convenience store operators need to offer friendly and helpful service. Furthermore, establishing a reputation for quick service is crucial.

Customer loyalty: A well-established presence and good relationship with local consumers are particularly important for single-store operators due to growing competition from chain stores.

Competitive environment: As convenience stores compete with different retail channels, proximity to different types of stores can hinder growth.

Free: Business Plan Examples

Do you need help creating a business plan? Check out these six free, proven business plan examples from different industries to help you write your own.

What is a Convenience Store Business Plan?

A convenience store business plan is a written document that sets your company’s financial goals and discusses how you’ll reach them.

A solid, comprehensive strategy will serve as a road map for the next three to five years of the convenience store business. Any bank or investor you approach will require a business plan for convenience store business, so putting one together will be critical to securing funding.

In short, writing a business plan can help you succeed if you’re thinking of starting a convenience store business or pitching to investors or venture capitalists.

What is a Convenience Store Business Plan?

Why Write a Convenience Store Business Plan?

If you want to start a convenience store business or expand an existing one, the first thing you need to do is to write a business plan. A business plan is also necessary for attracting investors who want to know if your convenience store business is on the right track and worth investing in.

A solid, detailed convenience store business plan gives you a clear path to follow, forces you to examine the viability of a business idea, and may help you better understand your company’s finances and competition.

Convenience store business owners who have a business plan grow 35% faster than those who don’t, and 78% of fast-growing businesses have one.

Funding Sources for Convenience Store Business

Financing comes in many forms. There are several types of business funding available to convenience store owners, including:

  • Friends and family: Start by asking family and friends to invest in your convenience store business. Set a budget and identify what you need to start your store, and then enlist the help of your family and friends. To assure the willing ones that they will make a profit, you might need to present them with a solid business plan.
  • Term loans: A term loan is the most suitable option if you want a set repayment schedule and amount.
  • Merchant cash advances: Does your convenience store accept credit cards frequently? The merchant funding might be a good option for you. Typically, business owners prefer this form of financing because it focuses primarily on your credit card sales rather than your credit history.
  • SBA loans: It is possible to receive a business loan from the SBA if you don’t qualify for traditional funding sources.
  • Business lines of credit: Business owners sometimes seek credit lines so they can borrow against them when needed. You will only be charged interest on the money you use with most lines of credit lenders.
  • Business credit cards: It is often useful for business owners to have access to a credit card so that they can charge expenses as needed. This may not be the best financing option for you if you are prone to overspending. 

Pro Tip: Check out our comprehensive guide on credit cards if you are looking for the best business credit cards .

Looking to Build Your Convenience Store Business's Credit?

Build your business credit quickly with an easy approval net 30 account from Wise Business Plans . Or check out the top 10 net 30 vendors to find the best one for you to help build your business credit .

How to Write a Convenience Store Business Plan

To write a convenience store business plan, you don’t need to be an expert. Our step-by-step guide will show you how to write a business plan for convenience store business, or you can just download our To gain a better idea, consult an example business plan for a successful convenience store.

Convenience Store Business Plan PDF and Word

Download our convenience store business plan in PDF and Word here.

Executive Summary

The executive summary is the most important part of the document since it outlines the whole convenience store business plan. Despite the fact that it appears first in the plan, write the executive summary last so you may condense key concepts from the other nine parts.

It’s a part that catches the investor’s eye and provides key information about your company’s overview and upcoming short- and long-term goals.

Tell them what kind of convenience store business you have and what stage you’re in; for example, are you a startup, do you have a established store that you want to expand, or do you have a lot of convenience store business?

Finally, an executive summary should provide investors with a preview of what they may expect from the rest of your document.

  • Provide a high-level overview of the convenience store business plan
  • The name, location, and mission of your convenience store 
  • A description of your convenience store business including management, advisors, and a brief history
  • Discuss the type of convenience store business you are operating, Give an overview of your target customers, and how your product differs from competitors in the industry
  • Create a marketing plan that describes your company’s marketing strategies, sales, and partnership plans.
  • And give an overview of your financial plan

Check out these business plan executive summary examples to help you write a perfect one for your business plan.

Free: Executive Summary Examples

An executive summary is the most important part of your business plan, and it need not be challenging to write. This is why we have put together some awesome free Executive Summary examples for you.

Company Analysis

The business overview follows the executive summary as the second section of a business plan. Your company analysis will be short and clear, similar to the executive summary.

Even if they just have a few minutes, your reader has to understand what your company does and who your customers are.

The following sections will be included in your business plan’s Company Analysis:

  • Company overview: Your company analysis will describe the type of convenience store business you are operating and its future goals.  The type of convenience store business you might be focused on are: Mini Convenience Store, Traditional Convenience Store, Limited Selection Convenience Store, Expanded Convenience Store, Hyper Convenience Store, or Kiosk.
  • Company history: When and why did you start your convenience store business?
  • Management team: Who runs the company, and other key positions.
  • What milestones have you achieved so far? Your milestones could include sales goals achieved, new store openings, etc.
  • Legal structure and ownership: Your reader will want to know what business entity your company is: a sole proprietorship , LLC , partnership, or corporation .
  • Locations and facilities: Information about your workspaces or plans to acquire them.
  • Mission statement: An overview of your company’s guiding principles. Learn how to write a perfect mission statement .

Industry Analysis

You need to include an overview of the convenience store business in the industry analysis you performed before sitting down to write your convenience store business plan.

While this research may appear to be unnecessary, it helps you to build strategies that maximize business opportunities while lowering or avoiding the identified risk.

Market research can help you improve your strategy, especially if it identifies market trends. For example, electric vehicles are becoming more popular. You should install an electric vehicle charging station outside your convenience store in order to attract consumers while their cars are parked.

The third justification for conducting market research is to demonstrate to readers that you are an authority in your field. You accomplish this by conducting the study and presenting the findings in your strategy.

Industry analysis can be presented as a 8-step process when written as part of a company’s business plan.

  • Give a quick overview of convenience store business industry. Define the convenience store business in terms of size (in dollars), historical background, service region, and products.
  • Examine previous trends and growth patterns in the convenience store business.
  • Identify the market’s major competitors.
  • Age, gender, and general lifestyle of the targeted market
  • Who are the market’s main suppliers?
  • Determine the factors that have an impact on the convenience store business. These might include government regulatory rules and other businesses’ competitive activities.
  • Using research data, the industry forecast expected growth. Predictions should be made for both the long and short term.
  • Describe how your convenience store business intends to position itself in the industry. Concentrate on how your convenience store business can benefit from opportunities highlighted in the industry.

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Customer Analysis

The customer analysis section is an important part of any business plan for convenience store since it evaluates the consumer segments that your company serves. It identifies target customers, determines what those customers want, and then explains how the product will meet those requirements.

Here are some examples of customer segments:  commuting workers, truck drivers, families, elderly people, etc.

Customer analysis may be divided into two parts: Psycho-social profiles (why your convenience store products suit a customer’s lifestyle) and Demographic profiles (descriptions of a customer’s demographic qualities).

In terms of demographics , you should include information on the ages, genders, locations, and income levels of the consumers you want to serve. 

The psychological profiles of your target clients reveal their wants and needs. The better you understand and identify these demands, the better your chances of attracting and retaining customers will be.

Competitor Analysis

It is necessary to do a competitor analysis You may use their data to define your goals, marketing plans, tactics, new product lines, pricing, and more. Use competitor analysis to:

  • Identify the strength and weaknesses of your convenience store competitors.
  • Search for opportunities to distinguish your convenience store business from competitor. 
  • Set your product’s price.

The first step is to determine who your direct and indirect rivals are.

The direct competitors consist of other convenience store businesses that offer essentially the same products to the same people as you do. 

Indirect competitors are other options that customers have besides direct competitors. These include supermarkets, grocery stores, pharmacies, and drug stores.

Once you’ve identified the competitors, concentrate on the direct, head-to-head competitors, since they are the most threatening to your convenience store business business — but keep an eye on the indirect competitors as well, just in case.

Provide an overview of each direct competitor’s business and detail their strengths and weaknesses.

You will be able to position yourself competitively in the market if you perform proper competitors research. Perform a SWOT Analysis to learn your competitors’ strengths, weaknesses, and competitive advantages in the following areas:

  • Prices – Are they offering products on cheaper price than you, what value do buyers get for that price, and does shipping significantly raise the price?
  • Quality – The quality products they provide, the perceived worth in the eyes of the customers
  • Customer service – How they respond to their consumers, whether they treat them poorly or well, and the degrees of satisfaction customers show
  • Reputation — The sum of everything mentioned above: their credibility, how loved the brand is, and the loyalty of their customers

The final section of your competitive analysis should include a list of your areas of competitive advantage. for example: Are you going to offer premium products? Will you offer unique products that your competitors don’t offer? Will you offer better pricing or will you offer greater customer support?

Consider how you will outperform your competitors and include them in this portion of your convenience store business  plan.

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Take advantage of our free SWOT analysis examples. Make your business future-proof by identifying your strengths, weaknesses, opportunities, and threats using this free SWOT Analysis Template.

Marketing Plan

Creating a marketing plan for a convenience store business involves identifying the target demographic and finding products that suit their preferences. Convenience store owners need to constantly seek out convenience businesses that their competitors do not carry.

As part of your marketing plan for a convenience store business, you should include:

Pricing and Product Strategy

Your corner business plan must offer services and products that are unique, need in public, and different from those of your competitors. Research what your competitors carry and how they price their products. Unique convenience store item identifies your store as the place to go for a unique convenience store business and differentiates it from others.

Placing and Promotions

The location of your convenience store business is referred to as place. Make a note of where you’re going and how it’ll affect your success. Your convenience should be located somewhere with a lot of foot or car traffic to attract first-time customers. The more people who walk past your convenience, the more likely you are to attract new customers.

Promoting your convenience is the final part of your marketing plan. In this step, you document how you will drive customers to purchase your convenience. A few marketing methods you could consider are:

  • Marketing in local newspapers and magazines
  • Approaching bloggers and websites
  • Adding extra appeal to your convenience store to attract passing customers
  • Partnerships with local organizations (e.g., gym members receive a free cup of coffee with every protein bar they purchase)
  • Billboards and Flyers
  • Marketing on social media
  • Unique Selling Point (USP)
  • Produce special premium memberships and offers

Operations Plan

While the previous sections of your convenience store business plan described your goals, your operations plan discusses how you will achieve them.

An operations plan is helpful for investors, but it’s also helpful for you and employees because it pushes you to think about tactics and deadlines.

Your operations plan should be divided into two individual parts, as seen below.

All the daily tasks involved in running your convenience store business, such as serving customers, cleaning store, procuring supplies, etc., are short-term processes.

Long-term goals are milestones that you aim to reach. These may include the dates when finalizing the lease agreement for the convenience store space or Reaching break-evens. It might also be when you plan to launch a new convenience or to serve the 1000th customer.

Management Team

When writing a business plan , the management section of a business plan outlines your management team, staff, resources, and how your business ownership is structured.

A strong management team is necessary to demonstrate your convenience store  ability to succeed as a business. Highlight the backgrounds of your key players, emphasizing the skills and experiences that demonstrate their ability to grow a business.

You and/or your team members should ideally have prior experience working in a convenience store company. If so, emphasize your knowledge and experience. However, you should emphasize any experience that you believe will help your convenience store business succeed.

Consider forming an advisory board if your team is lacking. An advisory board would consist of 2 to 8 people who would act as mentors to your company. They would assist in answering questions and providing strategic direction. If necessary, seek out advisory board members with experience running convenience store and small businesses. 

Financial Plan

In financial plan section of business plan , you should present a 5-year financial statement broken down monthly or quarterly for the first year, and then annually. Business financial statements include your income statement, balance sheet, and cash flow statement.

Income Statement

A profit and loss statement is more commonly called an income statement. It shows your revenue and subtracts your expenses to determine whether you were profitable or not.

As you develop your income statement, you need to develop assumptions. For example, will you serve 20 clients per day or 50? Will sales increase by 2% or 12% per year? As you can imagine, your assumptions have a significant impact on your financial forecast. Do your best to verify your assumptions by conducting research.

Free: Income Statement Template

Create a financial statement for your business by downloading our free income statement templates.

Balance Sheet

While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities.

The balance sheet shows your convenience store net value at a specific point in time. It categorizes all of your convenience store’s financial data into three categories:

  • Assets: Tangible goods with the monetary worth that the company owns.
  • Liabilities: Debt owing to a company’s creditor.
  • Equity: The net difference when the total liabilities are subtracted from the total assets.

The equation that expresses the relationship between these financial data elements is Assets = Liabilities + Equity.

Create a proforma balance sheet for your convenience store business plan that highlights the information in the income statement and cash flow projections. A balance sheet is normally prepared once a year by a company.

Balance sheets indicate your assets and liabilities, and while they contain a lot of information, they are simplified to highlight the most important things you need to know.

For example, spending $140,000 to build out your convenience business will not result in instant revenues. Rather, it is an asset that should help you earn money for many years to come.

Similarly, if a bank sends you a check for $600,000, you do not have to pay it back right now. Rather, that is a liability that you will repay over time.

Cash Flow Statement:

Your cash flow statement will help you determine how much money you need to start or grow your convenience store business. In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a convenience store business:

  • The cost of forming a business
  • Permits and licenses legal expenses
  • Insurance costs
  • Costs associated with renting, equipping, and furnishing a store
  • The cost of installing signs and promoting the business
  • Start-up inventory costs (stocking with a variety of goods)
  • Launching a website costs
  • Payroll or salaries paid to employees
  • Miscellaneous expenses et al

Free: Balance Sheet Template

Create a financial statement for your business by downloading our free balance sheet templates.

List any additional material you cannot include elsewhere, such as resumes from key employees, licenses, equipment leases, permits, patents, receipts, bank statements, contracts, and personal and business credit histories.

Attach your full financial projections along with any supporting documents that make your convenient store business plan more compelling in the appendix. You may, for instance, include some of your apparel designs.

Bonus Tip: Learn how to write a business plan appendix for your convenience store business.

Summary of the Convenience Store Business Plan

A business plan for convenience store is a worthwhile investment. As long as you follow the template above, you will become an expert in no time. By following the template, you will understand the convenience store business, your competitors, and your customers. The plan will help you understand the steps necessary to launch and grow your convenience store.

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Since 2013, Wise business plans ‘ MBA professional business plan writers has developed business plans for thousands of companies that have experienced tremendous success.

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How to Write a Business Plan for a Convenience 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.

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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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How To Write a Business Plan for Convenience Store in 9 Steps: Checklist

By alex ryzhkov, resources on convenience store.

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Are you considering starting a convenience store? You're not alone. According to recent industry statistics, the convenience store industry continues to grow, with over 150,000 stores generating over $650 billion in revenue annually.

But where to begin? Crafting a successful business plan is the first step. Here is a nine-step checklist to help you write a solid business plan for your convenience store.

  • Research the market and competition
  • Determine the location and size of the store
  • Identify the target audience and their needs
  • Create a budget and secure funding
  • Decide on a store layout and merchandise selection
  • Obtain necessary permits and licenses
  • Hire a team and establish responsibilities
  • Develop a marketing plan
  • Establish vendor relationships and distribution channels

Following these steps can help you create a business plan that sets you up for success in the convenience store industry. Remember to stay customer-oriented and focus on providing quick and friendly service for a seamless shopping experience.

Research The Market And Competition

Before starting your convenience store business, it is crucial to conduct thorough market research . This means identifying current trends, customer demand, and gaps in the market that your store can fill. Understanding your competition is also important, as it will allow you to differentiate your store from others and provide a unique customer experience. Here are some steps to follow when researching the market and competition for your convenience store:

  • Use online resources to research your local market and competition
  • Visit other convenience stores in the area to get a sense of their selection and pricing
  • Attend trade shows or events to learn about new trends and products
  • Conduct surveys or focus groups with potential customers to gather feedback and ideas
  • Take note of what your competition is doing well and where they could improve to differentiate your business
  • Think about how your store can appeal to specific customer demographics, such as students or commuters
  • Consider offering unique products or services that your competition does not, such as locally-sourced items or online ordering options

Overall, conducting comprehensive research on the market and competition is essential for developing a strong business plan. By understanding the needs of your potential customers and what your competition is doing well, you can create a plan that will set your convenience store apart from the rest and provide a valuable service to your community.

Determine The Location And Size Of The Store

The location and size of your convenience store play a significant role in the success or failure of your business. It is important to choose the right location and size based on several factors, such as foot traffic, accessibility, competition, and target audience. Here are some crucial steps to help you determine the location and size of your convenience store:

  • Assess the available locations: Conduct thorough research to identify potential store locations. Consider factors such as nearby businesses, demographics, accessibility, parking, and visibility. Check with local zoning and planning boards to ensure the location is zoned for commercial use, and there are no restrictions or zoning issues that may hinder the success of your business.
  • Consider the size: Determine the size of your convenience store based on several factors such as available capital, target audience, competition, and inventory. Consider the layout of the store and aim for a clean, organized, and spacious interior to create a comfortable shopping experience for your customers.
  • Research your competition: Study your competition and assess their store locations and sizes. Choose a location that is not saturated with competitors and offers a unique selling proposition to attract customers.
  • Focus on accessibility: Choose a location that is easily accessible to pedestrians, drivers and has ample parking space. A convenient location will attract more customers and bring more sales to your store.
  • Observe foot traffic patterns in potential locations to determine the best location.
  • Determine the minimum size requirement for your convenience store based on the size of your inventory and the estimated number of customers you expect.
  • Consider the accessibility of the location during peak hours, such as rush hour traffic.
  • Choose a location that offers a unique advantage such as near gas stations or hospitals.

Choosing the right location and size of your convenience store is crucial for your business's success. Follow these steps to ensure a smooth opening of your store and attract more customers with convenient accessibility and a comfortable shopping experience.

Identify The Target Audience And Their Needs

Before starting any business venture, it is crucial to identify the target audience that the business will serve. For a convenience store, the target audience is primarily on-the-go consumers who need quick, convenient access to essential items . These customers are often busy professionals, students, or travelers who have limited time to shop for groceries or run errands.

Understanding the needs of the target audience is essential to determining what types of products and services to offer. Convenience stores typically stock a variety of items that cater to customers' urgent needs, including food, beverages, health and beauty products, and household supplies.

  • Conduct market research to identify common needs and shopping habits of the target audience.
  • Observe customer behavior in other convenience stores to understand what products and services are in high demand.
  • Ask customers for feedback on what they would like to see stocked in the store.

Demographics also play a role in identifying the target audience. Age, gender, income level, and lifestyle all affect shopping habits and preferences. For example, a convenience store located near a university campus may primarily serve students who are looking for quick snacks and college essentials.

Geographic location is another factor to consider when identifying the target audience. A convenience store located in a busy city center may cater to commuters and tourists who need quick access to food and other essentials while on-the-go.

Personalization is also key to meeting the needs of the target audience. Understanding customers' buying habits and preferences can allow the business to tailor its offerings to meet their needs. For example, offering healthy food options for health-conscious customers or stocking popular local products can help attract and retain customers.

  • Develop a customer persona to help visualize and understand the target audience.
  • Regularly analyze sales data and customer feedback to identify areas of growth and opportunities for improvement.
  • Attend community events and engage with local customers to gain insights into their needs and preferences.

By identifying the target audience and their needs, a convenience store can create a business plan that is tailored to meet their customers' needs and expectations. This will help attract and retain customers and lead to long-term success on the market.

Create A Budget And Secure Funding

One of the essential steps in starting a convenience store is creating a budget and securing funding. This step will help you determine the costs involved in opening and operating a store and how much funding you need to obtain to start your business.

Determine Your Startup Costs: To start your budget, you need to list down all your start-up costs, including rent, equipment, inventory, licenses, permits, legal fees, insurance, and marketing expenses. Use your research to identify how much you will need to get your business off the ground.

Create A Cash Flow Projection: Once you have determined your startup costs, you need to create a cash flow projection that outlines your expenses, expected income, profit, and loss. It will help you identify how much money you will need to keep your business running and how long it will take to break even.

Secure Funding: After determining your startup costs and cash flow, it's time to secure funding. You might want to consider the following options:

  • Personal Investment: You can invest your savings in your business.
  • Small Business Loans: You can apply for a small business loan from banks, credit unions, or the Small Business Administration (SBA).
  • Investors: You can pitch your business idea to investors who are looking to invest in a profitable business.
  • Crowdfunding: You can use crowdfunding platforms like Kickstarter or Indiegogo to raise funds for your business.
  • Research funding options thoroughly before deciding on which one to pursue.
  • Be realistic when projecting your finances, and don't underestimate your expenses.
  • Prepare a solid business plan before asking for funding.
  • Keep improving your cash flow projection and adjust it accordingly if needed.

In conclusion, creating a budget and securing funding is crucial when opening a convenience store. It will help you plan your finances effectively and ensure you have enough funds to start and run your business.

Decide On A Store Layout And Merchandise Selection

One of the most critical steps in opening a convenience store is deciding on the store layout and inventory selection. This is where you can differentiate yourself from the competition and create a unique shopping experience for your customers. Here are some essential tips to consider when deciding on your store layout and merchandise selection:

Tip #1: Optimize your store layout for convenience

  • Place frequently purchased items like cigarettes, candy, and soft drinks towards the front of the store to maximize sales.
  • Create an easy-to-navigate layout with wide aisles to ensure customers can quickly find what they need.
  • Make sure the checkout area is located towards the front of the store for convenient and efficient checkout.

When deciding on your merchandise selection, make sure to consider your target audience and their needs. Keep in mind that convenience stores are generally frequented by customers who are looking for quick and easy solutions to their problems. Here are some additional tips to consider:

Tip #2: Offer a wide variety of products

  • Stock the store with a diverse selection of products, including groceries, snacks, beverages, health and beauty products, over-the-counter drugs, cleaning and paper supplies, cigarettes, and lottery tickets.
  • Make sure you have a balance of both impulse purchases and everyday necessities to appeal to different types of customers.
  • Keep a close eye on inventory and make sure to restock items regularly to avoid running out of popular items.

Tip #3: Emphasize local and specialty products

  • Consider carrying locally-made products to appeal to customers who prioritize supporting small businesses and sustainable consumption.
  • Offer premium merchandise for customers who are willing to pay more for high-quality products.
  • Don't forget to include seasonal products to attract seasonal customers throughout the year.

Overall, the store layout and merchandise selection are critical components of your convenience store's success. Keep in mind that your store should cater to the needs and preferences of your target audience while providing an efficient and convenient shopping experience. By taking these tips into account, you can create a unique store that stands out from the competition.

Obtain Necessary Permits And Licenses

Before opening a convenience store, it is important to obtain all the necessary permits and licenses required by your state and local government. This will ensure that you are operating your store legally and not risking any penalties or fines. Each state and city may have different requirements, so it is important to research the laws and regulations for your specific location.

Some of the permits and licenses you may need to obtain include:

  • Business license
  • Sales tax permit
  • Food service permit
  • Tobacco permit
  • Liquor license (if you plan to sell alcohol)
  • Research early to avoid any delays in the opening process
  • Don't forget to renew permits and licenses regularly
  • Consider hiring a professional to help you navigate the legal requirements

The process of obtaining permits and licenses can be time-consuming and may involve filling out detailed paperwork, attending classes or training sessions, and passing inspections. It is important to give yourself enough time to complete these requirements before opening your store.

Additionally, it is important to be aware of any local zoning laws and regulations that could affect the location of your store. For example, some cities may have restrictions on where you can sell tobacco products or alcohol.

Be sure to research and understand all of the necessary permits and licenses needed for your convenience store to ensure a smooth opening process and long-term success.

Hire A Team And Establish Responsibilities

One of the most important aspects of running a successful convenience store is building a strong team. Your employees will be the face of your business and will directly impact the customer experience. Here are some tips for hiring a team and establishing responsibilities:

  • Develop clear job descriptions for each role that outline responsibilities, requirements, and desired qualifications.
  • Utilize a thorough hiring process that includes job interviews, skill assessments, and background checks.
  • Consider offering a competitive compensation package, including benefits and bonuses, to attract top talent.
  • Create a comprehensive training program to ensure employees are equipped with the knowledge and skills necessary to provide excellent customer service.
  • Establish clear expectations and performance metrics, and regularly review employee progress towards meeting these goals.

When building your team, it's important to consider the specific needs of your convenience store and the roles that will be necessary to support its success. For example, you may need to hire cashiers, stockers, cleaners, and managers.

When writing your job descriptions, be sure to include the specific responsibilities and requirements for each role. For example, your cashier job description might include tasks such as handling cash transactions, restocking shelves, and providing excellent customer service.

As you move forward in the hiring process, consider utilizing a thorough screening process to identify the best candidates. This may include conducting interviews, running background checks, and testing for specific skills such as cash handling abilities.

Once you've hired your team, it's important to establish clear expectations and performance metrics. This may include setting sales goals, developing customer service standards, and outlining specific tasks for each employee.

It's also important to provide your employees with the necessary training and support to be successful in their roles. This may include on-the-job training, online courses, and certification programs.

Finally, consider offering competitive compensation packages to attract top talent and retain your employees. This may include bonuses, incentives, and benefits such as health insurance.

By hiring a strong team and establishing clear expectations and responsibilities, you can build a successful convenience store that provides excellent customer service and meets the needs of on-the-go consumers.

Develop A Marketing Plan

Marketing is essential to the success of any business, and a convenience store is no exception. A good marketing plan will help you identify your target audience and reach them effectively. Here are some steps to help you develop a marketing plan for your convenience store:

  • Define your target audience: Knowing who your customers are will help you tailor your marketing efforts to their needs. Consider factors such as age, gender, income level, location, and lifestyle.
  • Create a value proposition: A value proposition is a statement that highlights the benefits of your store and distinguishes it from competitors. It should communicate your unique selling point and how it meets the needs of your target audience.
  • Establish a brand identity: Your brand is more than just a logo. It encompasses your store's image, personality, and values. Develop a consistent visual identity and tone of voice across all marketing channels.
  • Choose marketing channels: There are many marketing channels available for convenience stores, such as in-store signage, digital advertising, social media, direct mail, and events. Identify the channels that will be most effective for reaching your target audience.
  • Create a content strategy: Develop a content strategy to guide your messaging across marketing channels. This should include topics that resonate with your target audience and align with your brand values.
  • Measure performance: Track the effectiveness of your marketing efforts by setting goals and using metrics such as website traffic, social media engagement, and sales. Use this data to make informed decisions and adjust your marketing plan as needed.
  • Consider partnering with other local businesses to cross-promote each other.
  • Offer promotions and discounts for regular customers to encourage repeat business.
  • Utilize customer data to personalize marketing efforts and provide a more tailored experience.

By developing a strong marketing plan, you will be better equipped to attract and retain customers. Remember to stay consistent in your messaging and always prioritize customer needs and preferences.

Establish Vendor Relationships And Distribution Channels

Once you have determined the merchandise selection and store layout of your convenience store, it's time to establish vendor relationships and distribution channels. This step ensures that you have a steady supply of products and can meet the needs of your customers.

First, research and identify potential vendors that can provide you with the products you need. Look for vendors who offer a variety of items, reasonable prices, and have a good reputation in the industry. Contact them to discuss pricing, delivery schedules, and other important details.

  • Establish relationships with multiple vendors to ensure you have a backup option in case one vendor is unable to supply your store.
  • Consider negotiating a volume discount with your vendors to save money on large orders.
  • Establish clear and timely communication channels with your vendors to ensure timely deliveries and to prevent product shortages.

Once you have established vendor relationships, it's important to create a distribution plan. This ensures that products arrive at your store on time and in good condition. Determine how often you will need to restock your shelves and work with your vendors to coordinate delivery schedules.

Consider setting up a vendor management system to track inventory levels and monitor vendor performance. This can help you identify areas where improvements can be made and ensure that your store is always stocked with popular items.

  • Develop a shipping and receiving schedule to ensure that products are delivered and received on time.
  • Consider using a barcode system to track inventory levels and reduce errors in the ordering process.
  • Develop a plan to manage product returns in case there are issues with quality or damaged products.

Creating strong vendor relationships and distribution channels is essential for the success of your convenience store. By carefully selecting vendors and establishing clear communication and logistics processes, you can ensure that your store is always stocked with the products your customers need.

Starting a convenience store business requires careful planning and execution. By following these nine steps, you can create a solid business plan and ensure a successful launch. Researching the market, identifying the target audience, establishing vendor relationships, and developing a strong marketing strategy will help you stand out from the competition and attract loyal customers.

Remember to prioritize customer service and convenience in all aspects of your store, from the layout to the checkout process. With the right planning, funding, and team in place, you can create a profitable and sustainable convenience store business that meets the needs of your customers. Good luck!

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BusinessPlanTemplate.com - The World's Leading Business Plan Template Directory

Convenience Store Business Plan Template [Updated 2023]

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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

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How to Write a Convenience Store Business Plan

How to write a convenience store business plan and template.

In today's communities, few businesses cater to a broader audience than convenience stores. With an ever-increasing demand for convenience, these stores have witnessed remarkable growth.

As a result, more entrepreneurs are venturing into the convenience store market, while existing stores frequently dominate business listings and command higher prices due to their strong revenue streams. Thus, crafting a well-structured and comprehensive convenience store business plan becomes vital for startups and those looking to sell their existing operations.

In light of this, our convenience store business plan writer aims to provide valuable insights, tips, and tricks for creating a winning business plan. Whether you are starting a new convenience store or seeking to enhance the profitability of an existing one, a thoughtfully crafted business plan will serve as your roadmap to success. It will help you outline your objectives, strategies, financial projections, and other critical aspects vital for attracting investors and ensuring the store's sustainable growth.

With our convenience store business plan template and expert advice, you can confidently navigate the complexities of the market and position your convenience store for success in this highly demanding and competitive industry. So, let's delve into the essential components of a comprehensive convenience store business plan and pave the way for a thriving and prosperous venture (7/23).

CLICK HERE FOR OUR CONVENIENCE STORE BUSINESS PLAN TEMPLATE!!

Executive Summary for a Convenience Store Business Plan.

The Executive Summary of a Convenience Store Business Plan is a concise overview of the entire document, providing a snapshot of the essential elements. It should capture the key findings and highlights from the comprehensive business plan. Begin by outlining the purpose of the convenience store, its unique selling points, and the target market it aims to serve.

To enhance the summary's effectiveness, include relevant demographics and area information, mainly if the store's location is on a strategic cross street. Mention nearby large employers, apartment complexes, or subdivisions to showcase the potential customer base and foot traffic. Address the convenience store's accessibility by briefly discussing entry and exit points. Emphasize the convenience of the location and how it contributes to attracting customers. Remember that brevity is critical; the Executive Summary should be concise and to the point. Avoid extensive discussions in this section, as more in-depth details will be covered in other business plan segments, such as the location segment.

The Executive Summary should be an engaging and compelling introduction to the convenience store business plan. It should grab the reader's attention, giving them a clear understanding of the store's vision, target market, and competitive advantages. By offering a well-crafted Executive Summary, entrepreneurs can captivate potential investors and stakeholders, encouraging them to explore the full potential of the convenience store venture.

How to Write a Convenience Store Company Information and Location .

When writing the Convenience Store Company Information and Location section, it is crucial to provide a comprehensive overview of the store's address, description, and unique selling points. Differentiating factors, such as discounted prices, easy entry, exit, or low overhead, should be emphasized to highlight the store's competitive advantages.

For the internal aspects of the location, focus on critical details like square footage, available freezer/cooler space, and any potential renovations or improvements planned for the near future. This will give readers an insight into the store's infrastructure and potential for expansion. In the external review, describe the parking lot and the number of parking spaces available to customers. Expand further by providing a detailed description of the surrounding area, including nearby apartment complexes, subdivisions, and large employers. Understanding the demographics and foot traffic in the area is vital for demonstrating the convenience store's market potential and target audience.

By incorporating both internal and external variables into the Convenience Store Company Information and Location section, business owners can provide readers with a comprehensive understanding of the store's physical attributes, market positioning, and growth potential. This detailed review of the convenience store's location and features will play a crucial role in attracting potential investors and stakeholders, instilling confidence in the viability and success of the venture.

Service Description and Competitive Advantages

When crafting the Service Description and Competitive Advantages section for a convenience store business plan, focusing on the range of products offered to customers is essential. Begin by concisely describing the available grocery items, such as bread, milk, snacks, and other essential goods in convenience stores.

Additionally, highlight the convenience store's selection of alcoholic beverages, including beer and wine. Mention any unique offerings or promotions related to these products to attract customers. Furthermore, it emphasizes the store's role as a retail retailer of cigarettes and lotto tickets, acknowledging their potential as revenue generators. Although the profit margins on these items may not be substantial, they often serve as catalysts for additional purchases of higher-margin goods, contributing to overall profitability.

To strengthen the service description, outline any additional services or conveniences the store provides, such as ATM access, prepaid phone cards, or bill payment services. These can further differentiate the convenience store from competitors and add value to the customer experience. Regarding competitive advantages, identify critical factors that set the convenience store apart from others in the market. This could include extended operating hours, a prime and accessible location, customer loyalty programs, or exceptional customer service.

By effectively conveying the service description and competitive advantages, the convenience store business plan demonstrates the store's value proposition and ability to meet customers' diverse needs, ultimately positioning the store for success in a highly competitive industry.

Need Help Writing a Convenience Store Business Plan?

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Target Market for a Convenience Store Business Plan or Template

When developing the Target Market section for a Convenience Store Business Plan or Template, it is crucial to identify and understand the specific customer segments the store aims to serve. The target market for a convenience store can vary significantly based on its location and surrounding demographics.

Paul Borosky, MBA., Business plan writer

For some convenience stores, the primary target market may be residents in the immediate area. This is often the case when the store is near apartment complexes, subdivisions, or significant crossroads. In such instances, the store caters to nearby residents' convenience needs, offering essential goods and services that meet their daily requirements. On the other hand, other convenience stores may target a specific niche of customers, such as large employers in the area. For example, a store near a military base, corporate headquarters, or medical facility may tailor its offerings to cater to the needs of employees and personnel in those establishments. Conducting thorough market research to identify the target market's preferences, habits, and purchasing behaviors is essential. This information will help the convenience store develop a tailored product mix and marketing strategy to attract and retain its desired customer base.

By clearly defining the target market in the business plan, the convenience store can demonstrate a deep understanding of its potential customer base and position itself to effectively meet its needs, increasing the chances of long-term success and profitability.

Industry Research for a Convenience Store Business Plan or Template

When conducting Industry Research for a Convenience Store Business Plan or Template, it is essential to begin by reviewing national statistics and trends relevant to the convenience store industry. Start by examining the overall revenue generated by the industry, such as the $33 billion in revenue in the US over the past year. This figure provides a broad understanding of the market's scale and potential.

Next, delve into the industry's profitability metrics, like the $600 million in profits, resulting in a profit margin of 1.9%. While this margin may seem low, it is crucial to recognize that convenience stores rely on high-volume transactions due to their large customer base, leading to significant overall profits. Analyze the number of convenience stores operating nationwide, which is approximately 39,000. This figure indicates the level of competition and the density of convenience store establishments across the country. Additionally, identify the employment statistics, with approximately 141,000 employees working in these stores. Based on this data, the average store employs approximately four individuals, which provides valuable insights for future financial projections and workforce planning.

By conducting thorough industry research, the Convenience Store Business Plan can present a well-informed analysis of the market's potential and challenges, enabling the store to position itself strategically within the competitive landscape. Understanding industry trends and benchmarks is crucial for making informed decisions and creating a business plan that sets the convenience store on the path to success and sustainability.

Owner and Management Section.

How to Write a Business Plan in Ten Steps

In the Owner and Management Section of a convenience store business plan, the focus should be on the educational and personal experiences of the key individuals involved rather than solely their passion for the industry. While few people may dream of becoming convenience store owners due to the excitement of selling everyday products, the undeniable necessity and profitability of such ventures make this section crucial for showcasing the management team's expertise.

Highlight the owner's and key managers' relevant experiences in management and operations, specifically within the convenience store industry. Emphasize any experience running or managing similar businesses and any specific achievements or successes in this capacity. A solid business background is often essential for a convenience store's successful launch and sustainability. Document any relevant business courses or degrees earned, especially those aligned with the retail industry. In the management section, provide a clear overview of the job responsibilities for each position within the convenience store, such as cashiers, stockers, managers, and assistant managers. This demonstrates a well-structured and organized approach to running the store, ensuring smooth operations and efficient management.

This section establishes credibility and confidence in potential investors and stakeholders by conveying the owner and management team's experiences and understanding of the convenience store industry. It showcases the team's ability to operate the store effectively and positions the convenience store business plan for success in a competitive market.

Funding Request for a Convenience Store Business Plan

When writing the Funding Request for a Convenience Store Business Plan, it is essential to be clear and detailed about the financial requirements to establish and operate the store successfully. Begin by stating the specific dollar amount needed to start the convenience store. This should be a well-calculated figure that covers all initial expenses, such as buildout, land purchases, renovations, and inventory.

Next, outline the equity financing that will be provided by the owner(s) or partners. This demonstrates their commitment to the venture and can instill confidence in potential investors or lenders. Discuss the additional funding sources, whether through loans, grants, or investors. Provide information on how these funds will be secured and how they align with the store's financial objectives.

Break down the funding into specific categories, such as liquor licenses, advertising, employee wages, and other operational expenses. This helps potential investors understand how their funds will be utilized to ensure a successful and sustainable business. At the end of the Funding Request section, clearly state the total funds needed for the convenience store. This final figure is crucial for investors to assess the overall financial requirements and the store's potential for profitability.

The convenience store business plan establishes a solid financial foundation by presenting a well-structured and transparent Funding Request. It showcases the seriousness and viability of the venture, increasing the chances of securing the necessary funds for a successful launch and operation.

Financials and Financial Projections for a Convenience Store Business Plan.

Beginner's Guide to Financial Statements by Paul Borosky, MBA.

When writing the Financials and Financial Projections for a Convenience Store Business Plan, it is essential to identify the average sales expected from each customer visit. This figure will serve as the basis for revenue projections. For instance, if the convenience store owner expects an average spend of $9 per customer, this will form the foundation for sales calculations.

Next, estimate the number of visitors or shoppers the convenience store will likely attract. This can vary based on location, population density, and other factors. Business owners can calculate the daily revenues by combining the average spend per visit and the daily visitor count. Understanding these financial projections will inform the pricing strategy. Higher visitor counts may allow low-price opportunities to attract more customers, while lower visitor counts may require higher profit margins and product differentiation to maintain profitability.

Once the daily revenues are determined, financial models can be created to project sales for the next 30 days, 12 months, and even five years. These projections will provide valuable insights into the store's potential growth and profitability. Ensure the financial projections align with other business models and strategies in the convenience store business plan. Maintaining consistency between financial expectations and operational plans ensures a realistic and feasible path to success.

By presenting well-structured and data-driven financial projections, the convenience store business plan can clearly understand revenue generation and profitability, thus enhancing the plan's overall credibility and attracting potential investors and stakeholders.

Hopefully, these insightful tips and tricks for writing a business plan were helpful.  Email or call us for help with a business plan or financial projections. 

Author: Paul Borosky, Doctoral Candidate, MBA., Author

Owner of: Quality Business Plan  and  Quality Business Consultant.

Date: 7/23/23

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ProfitableVenture

Convenience Store Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business Plans » Wholesale & Retail

Are you about starting a convenience store? If YES, here is a complete sample convenience store business plan template & feasibility study you can use for FREE .

There are some folks who may not have the financial muscle to buy things in bulk. This is exactly one of the reasons why retail stores are in existence. This is one business that people have continued to delve into it. It is also true that the needs of the people are being met on a daily basis.

Also, it is no doubt that there is a good return on investment in this trade. Here is a business plan template that you may want to use to tweak yours;

A Sample Convenience Store Business Plan Template

Industry overview.

One of the easy to enter and thriving business line that an entrepreneur how is looking towards starting a business of his or her own is to go into retailing business. The retail business is indeed a wide business of which convenience store business falls under.

Simply put, a convenience store is usually a small store that stocks a wide range of everyday items that are used in households.

It is common to find commodities such as groceries, soft drinks, snack foods, candy, toiletries, tobacco products, and even call cards, newspapers and magazines et al. Some convenience stores even go as far as securing license to retail alcoholic drinks such as liquors, spirits, beers and wines et al while some secure license to operate a mobile money center or a money transfer center.

Starting a convenience store business is just like starting any other retailing business- it will require start – up capital(money), planning (feasibility studies, market survey, budgeting), and of course time. Convenience stores have become an essential part of our everyday lives.

No doubt, the items that are sold in convenience stores are in demand all over the world, making them a good and profitable business to start.

If you are considering starting this type of business, then you must hunt for the right location; with the right location, items in stock, and good pricing structure, you can start making profit as soon as possible after opening your convenience store.

Basically, a convenience store does not necessarily need to be part of a gas (petrol) station chain of business. As a matter of fact, it is common to find convenience stores located alongside a busy road, in a busy community, in an urban area, or near a railway or railroad station or other transport hub.

In some countries like the united states, United Kingdom and France et al, convenience stores are known to be opened 24 hours a day and 7 days a week.

The convenience store industry is indeed a very large industry and pretty much thriving in all the parts of the world. Statistics has it that in the United States of America alone, there are about 40,849 legally registered convenience stores responsible for employing about 140,238 employees and the industry rakes in a whooping sum of $28bn annually.

It is important to state that, the top convenience store chains in the U.S. account for just less than 30.0 percent of sales, and no single operator has control over the pricing trend , advertising trend, distribution model or customer loyalty et al in the Industry.

Over the years, convenience stores have experienced tremendous growth in all cities in the United States of America. In response to the ever growing demand for convenience and time saving options, convenience store owners have opened additional stores thereby creating chains of stores across different cities.

They are always ready to expanded into new markets and of course adapt to the changing trend in consumer tastes and increase sales.

Over and above, the convenience 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 chose to start on a small scale in a street corner like the average mom and pop business or you can chose to start on a large scale with several outlets (chains of stores) in key cities.

Executive Summary

Bee & Jay Convenience Store™ is a neighborhood convenience store that will be located in a centralized area between a residential neighborhood and a busy business district in downtown Los Angeles, California. We conducted our feasibility studies and market survey and we came to the conclusion that Los Angeles is the right location for us to launch our convenience store.

We are in the convenience store business to make profits at the same to give our customers value for their money and time whenever they patronize us. We want to give people who patronize our convenience store the opportunity to choose from a wide range of both locally and imported quality items from different manufacturing brands at highly affordable prices

We are aware that there are several small convenience stores and chains of convenience stores all around Los Angeles, which is why we spent time and resources to conduct our feasibility studies and market survey so as to enable us locate the business in an area that will support the growth of the business and also for us to be able offer much more than our competitors will be offering.

We ensured that our facility is easy to locate and our outlet is well secured and equipped with the various payment of options available in the U.S. Beyond retailing quality and affordable items in our convenience store, will ensure that our customer care is second to none in the whole of Los Angeles – California.

We know that our customers are the reason why we are in business which is why we will go the extra mile to get them satisfied and get what they are looking for whenever they visit our convenience store and also to become our loyal customers and ambassadors in and around our neighborhood.

Bee & Jay Convenience Store™ will ensure that all our customers are given first class treatment whenever they visit our 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 customer base may grow to.

We will ensure that we get our customers involved in the selection of brands that will be on our racks and also when making some business decisions that will directly or indirectly affect them.

Bee & Jay Convenience Store™ is owned by Mrs. Bella Brown – Jacobson and family. She has successfully managed several retailing business both in Los Angeles and New York prior to opening her own convenience store. She will run the business alongside her immediate family members.

Our Products

Bee & Jay Convenience Store™ is going to operate a standard and registered neighborhood convenience store that will retail a wide range of items from both locally manufacturers and international manufacturers just like any other registered and standard convenience store in the United States and in any part of the world.

Aside from retailing items, we will secure license to carry out money transfer and mobile money services. We are in the convenience store business to make profits and give our customers value for their money. These are some of the products that we will retail in our convenience store;

  • Soft drinks
  • Toiletries,
  • Newspapers and magazines
  • Tobacco products
  • Food service
  • Packaged beverages
  • Candy and snacks
  • Non – alcoholic beverages
  • Other Related Items and services (Mobile money outlets and money transfer services)

Our Mission and Vision Statement

  • Our vision is to establish a one stop convenience store in Los Angeles – California and in other cities in the United States of America.
  • Our mission is to establish a convenience store business that will make available a wide range of household needs (items) from top brands at affordable prices to the residence of Los Angeles – California and other cities in the United States of America where we intend opening our outlets and selling our franchise.

Our Business Structure

Bee & Jay Convenience Store™ do not intend to start a convenience business like the usual mom and pop business around the street corner; our intention of starting a convenience store business is to build a standard convenience store that will be a one – stop shop for household needs which is why we will ensure that we put the right structure in place that will support the kind of growth that we have in mind while setting up the business.

We will ensure that we only hire people who 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 management staff and it will be based on their performance for a period of five years or more especially when we start selling our franchise or running chains of convenience stores.

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

  • Chief Executive Officer (Owner)
  • Store Manager

Merchandize Manager

Sales and Marketing Manager

Information Technologist

  • Accountants / Cashiers

Job Roles and Responsibilities

Chief Executive Officer – CEO (Owner):

  • 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.
  • Creating, communicating, and implementing 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
  • 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 signing checks and documents on behalf of the company
  • Evaluates the success of the organization

Store Manager:

  • Responsible for managing the daily activities in the store
  • Ensure that the store facility is in tip top shape and conducive enough to welcome customers
  • 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
  • Interfaces with third – party providers (vendors)
  • Control the sales floor inventory
  • Ensures that goods and products are properly arranged
  • Supervises the entire sales staff and workforce
  • Any other duty as assigned by the CEO
  • Manage vendor relations, market visits, and the ongoing education and development of the organizations’ buying teams
  • Help to ensure consistent quality of liquors, wines and beers on our rack
  • Responsible for the purchase of wines, beers and liquors for the organizations
  • Responsible for planning sales, monitoring inventory, selecting the merchandise, and writing and pricing orders to vendors
  • Ensures that the organization operates within stipulated budget.
  • Manage external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
  • Model demographic information and analyze the volumes of transactional data generated by customer purchases
  • Identify, prioritize, and reach out to new partners, and business opportunities et al
  • 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
  • Represents the company in strategic meetings
  • Helps to increase sales and growth for the company
  • Manage the organization website
  • Handles ecommerce aspect of the business
  • Responsible for installing and maintenance of computer software and hardware for the organization
  • Manage 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 customer (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 store manager in an effective and timely manner
  • Consistently stays abreast of any new information on Bee & Jay Convenience Store™ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to our customers when they make enquiries
  • Responsible for cleaning the store facility at all times
  • Ensure that toiletries and supplies don’t run out of stock
  • Cleans both the interior and exterior of the store facility
  • Any other duty as assigned by the restaurant manager.

SWOT Analysis

Our intention of starting just one outlet of our convenience store in Los Angeles – California is to test run the business for a period of 2 to 4 years to know if we will invest more money, expand the business and then open other chains of convenience stores all over California and perhaps also sell franchise through the United States of America and Canada.

We are quite aware that there are several convenience stores all over Los Angeles 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.

Bee & Jay Convenience Store™ 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 Bee & Jay Convenience Store™;

Our location, the business model we will be operating on (one stop physical store and online store), varieties of payment options, wide range of household needs from local and international manufacturing brand and our excellent customer service culture will definitely count as a strong strength for Bee & Jay Convenience Store™.

A major weakness that may count against us is the fact that we are a new convenience store in Los Angeles 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 convenience store in one of the busiest district in Los Angeles – California provides us with unlimited opportunities to sell our items to a large number of people.

We have been able to conduct thorough feasibility studies and market survey and we know what our potential customers / residence within the location where our convenience store will be located will be looking for when they visit our convenience store. We are well positioned to take on the opportunities that will come our way.

We are quite aware that 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 power. Another threat that may likely confront us is the arrival of a new convenience store in same location where ours is located or even the arrival of a petrol / gas station and shopping malls et al.

MARKET ANALYSIS

  • Market Trends

Unlike in the days of old when it was trendy to find convenience stores attached to a petrol / gas station, in recent time a convenience store does not necessarily need to be part of a gas (petrol) station chain of business.

As a matter of fact, it is common to find convenience stores located alongside a busy road, in a busy community, in an urban area, or near a railway or railroad station or other transport hub. In some countries like the united states, United Kingdom and France et al, convenience stores are known to be opened 24 hours a day and 7 days a week.

If you keep tabs on the convenience store business and retailing business generally, you would generally have noticed that It is now a common phenomenon for retail 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 help retailers to maximize supply chain efficiencies.

No doubt data collected from customers goes a long way to help retail stores serve them better. Another common trend in the retailing industry is the pricing system.

Aside from having varieties and quality of the items in a convenience store, one of the easiest ways for players in this line of business to sell the items on their racks as fast as they can and keep re – stocking is to ensure that the prices of their items are a bit lower than what is obtainable in elsewhere. For example, it is common to see items with prices in this format; $3.99, $99 and $199 et al as against $4.00, $100 and $200.

Our Target Market

When it comes to selling items that are found in convenience stores, there is indeed a wide range of available customers. In essence, our target market can’t be restricted to just a group of people, but all those who resides in the locations where we intend opening our convenience store.

One thing is certain, we will ensure that we only retail quality and affordable items (household needs) in our convenience store. In view of that, we have positioned our convenience store to service the residence of Los Angeles – California and every other location where our convenience stores will be located all over the United States of America and Canada.

We have conducted our market research and we have ideas of what our target market would be expecting from us. We are in business to items (retail household needs) to the following groups of people;

  • Bachelors and Spinsters
  • Corporate Executives
  • Business People
  • About to wed couples
  • Expectant Mothers
  • Sports Men and Women

Our competitive advantage

Bee & Jay Convenience Store™ is launching a standard and registered convenience store that will indeed become the preferred choice of residence of Los Angeles – California and in every other locations where our chains of convenience stores will be opened.

Our convenience store is located in a corner piece property on a busy road directly opposite one of the largest residential estates in Los Angeles and few meters away from a busy business district. We have enough parking space that can accommodate well over 25 cars per time.

One thing is certain, we will ensure that we have a wide range of quality and affordable items (household needs) available in our store at all times. It will be difficult for customers to visit our store and not see the items that they are looking for.

One of our business goals is to make Bee & Jay Convenience Store™ a one stop alcohol shop. Our excellent highly experienced and qualified management, customer service culture, online store, various payment options and highly secured facility with enough packing space will also serve as a competitive advantage for us.

SALES AND MARKETING STRATEGY

  • Sources of Income

Bee & Jay Convenience Store™ is established with the aim of maximizing profits in the convenience store and retailing industry and we are going to go all the way to ensure that we do all it takes to sell a wide range of products to a wide range of customers.

Bee & Jay Convenience Store™ will generate income by retailing the following items (household needs);

  • Other Related Items and services (mobile money shop and money transfer services et al)

Sales Forecast

It is important to state that our sales forecast is based on the data gathered during our feasibility study, market survey and also some of the assumptions readily available on the field. One thing is common with convenience store business, the larger a convenience store (including varieties of quality items at affordable prices), the larger the numbers of customers that will patronize them.

Although we may not be as large as the biggest convenience stores or retailers in the United States, but we will ensure that within our capacity we make available a wide range of items (household needs) et al from different brands both local and foreign manufacturers in our store.

Below are the sales projections that we were able to come up with for the first three years of operations;

  • First Year-: $75,000
  • Second Year-: $250,000
  • Third Year-: $700,000

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 the arrival of a competitor in same location as ours within the period stated above. 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 Bee & Jay Convenience Store™, 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 Los Angeles – California and in every other cities where our chains of convenience stores will be opened.

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.

We hired experts who have good understanding of the convenience store / retailing industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Los Angeles – California.

In other to continue to be in business and grow, we must continue to sell the products that are available in our store which is why we will go all out to empower or sales and marketing team to deliver. In summary, Bee & Jay Convenience Store™ will adopt the following sales and marketing approach to win customers over;

  • Introduce our convenience store by sending introductory letters to residence, business owners and organizations in and around Los Angeles – California
  • Open our convenience store with an open house party for people in the community
  • Advertise our business in community based newspapers, local TV and radio stations
  • List our business on yellow pages ads (local directories)
  • Leverage on the internet to promote our business
  • Engage in direct marketing
  • Encourage word of mouth marketing (referrals) from satisfied and loyal customers

Publicity and Advertising Strategy

Despite the fact that our convenience 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 convenience store.

Bee & Jay Convenience Store™ has a long term plan of opening chains of convenience stores in various locations all around the United States of America and Canada which is why we will deliberately build our brand to be well accepted in Los Angeles – California 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 to the public. Here are the platforms we intend leveraging on to promote and advertise Bee & Jay Convenience Store™;

  • Place adverts on both print (community based newspapers and magazines) and electronic media platforms
  • Sponsor relevant community programs
  • Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, et al to promote our brand
  • Install our Bill Boards on strategic locations all around Los Angeles – California
  • Engage in road show from time to time in and around the location of convenience store
  • Distribute our fliers and handbills in target areas in the community where our convenience store is located
  • Position our Flexi Banners at strategic positions in the location where our convenience store is located.

Our Pricing Strategy

Pricing is one of the key factors that gives leverage to convenience stores and retailing business generally, it is normal for consumers to go to places (convenience stores) where they can get items / household goods at cheaper price which is why big player in the convenience store / retail industry like attract loads of consumers.

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

  • Payment Options

At Bee & Jay Convenience Store™, our payment policy is all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that will be available in every of our outlets;

  • Payment by cash
  • Payment via Point of Sale (POS) Machine
  • Payment via online bank transfer (online payment portal)
  • Payment via Mobile money

In view of the above, we have chosen banking platforms that will help us achieve our payment plans without any itches.

Startup Expenditure (Budget)

When it comes to starting a convenience store business the major areas that you look towards spending the bulk of your cash is in of course renting or leasing a standard store facility. Aside from that, you are not expected to spend much except for paying of your employees and the stocking of your store.

This is the key areas where we will spend our start – up capital;

  • The Total Fee for Registering the Business in California – $750.
  • Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $1,300.
  • Marketing promotion expenses for the grand opening of Pappy J & Sons Liquor Store 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.
  • Cost for hiring Consultant – $2,500.
  • Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $2,400.
  • Cost for payment of rent for 12 month at $1.76 per square feet in the total amount of $105,600.
  • Cost for Shop 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 both locally and imported quality items from different manufacturing brands) – $70,000
  • Storage hardware (bins, rack, shelves, food case) – $3,720
  • The cost for counter area equipment (counter top, sink, ice machine, etc.) – $9,500
  • Cost for store equipment (cash register, security, ventilation, signage) – $13,750
  • Cost of purchase and installation of CCTVs – $5,000
  • The cost for the purchase of 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 convenience store in Los Angeles – California. Please note that this amount includes the salaries of all the staff for the first month of operation.

Generating Funding / Startup Capital for Bee & Jay Convenience Store™

Bee & Jay Convenience Store™, is a family business that is solely owned and financed by Mrs. Bella Brown – Jacobson and family. 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 $100,000 (Personal savings $75,000 and soft loan from family members $25,000) and we are at the final stages of obtaining a loan facility of $150,000 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.

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 any of these factors is missing from a business (company), then it won’t be too long before the business close shop.

Bee & Jay Convenience Store™ will ensure that all the factors listed above are reinforced on a regular basis and also we will engage in continuous capacity building of our workforce. 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 three years or more.

We will make sure that the right foundation, structures and processes are put in place to ensure that staff welfare is 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. We have the plans of

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 shop: 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 products that will be available in our convenience store: Completed
  • Establishing business relationship with vendors – wholesale suppliers of various brands of products that we intend retailing: In Progress

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Sample Convenience Store Business Plan

Convenience store business plan pdf sample.

A convenience store is in another word a small retail business where everyday items like snacks, soft drinks, toiletries food items amongst other are being sold.

Starting a convenience store requires at first locating the best market that would pay you I am presenting to you a sample business plan for opening a convenience store.

BUSINESS NAME: Skywalk convenience store

Here is a sample business plan for starting a convenience cafe business at your gas station.

Executive Summary

Our Product and Services

Vision Statement

Mission Statement

Business Structure

  • Market Analysis

Sales and Marketing Strategy

  • Financial Plan

Sales Forecast

Skywalk convenience store is a fully registered retail business which will be carrying out its business operation in Las Vegas, United State of America. The business will mainly be concerned with providing basic daily needs of each individual in our store. Skywalk convenience store will be owned by Janie Schmidt and she will be both the CEO and Manager of the store which will be based in Las Vegas.

For a start our major target would be providing our services to people in Las Vegas alone and with passing time through the whole of United State. She has contributed a total of $600,000 form her personal savings and sales of some of her properties, she will be securing a loan worth $400,000 from her bank to complete the startup capital of $1,000,000.

Skywalk convenience store is a retail business based in Las Vegas, United State. Our services will be mainly interested in providing its services for consumers only in Las Vegas. Having done a lot of research we are ready to offer something new in this environment, the following are the product and services that will be rendered by Skywalk convenience store:

  • A 24-hour retail store, where you can walk in and get your product.
  • Discounted home delivery for consumers.
  • Online shopping would also be made available.
  • Sales of all essential daily needs.

Our vision in the retail business is to become the prince in satisfying the needs of each family daily, and doing this at no extra cost. We want Skywalk to be the biggest and simple convenience store ever.

Our mission in the retail business is to become a reputable convenience store that provides the best services for our consumers daily. We want a profitable business that will benefit both us and our consumer, that is while we make our gain, they enjoy the service.

The structure of Skywalk convenience store will not be extremely large, but it will reasonably fulfil the sole aim of starting the business. Our structure will go a long way in defining the success of our business, therefore so much attention would be given to this.

Below are the posts that will be occupied:

  • Manager (CEO and owner)
  • Accountant (2)
  • Sales person (2 boys, 2 girl)
  • Delivery Man (2)
  • Security guard (2 shifting based)
  • Customer service personnel

Market Analysis Market Trend

Two notable things that define your success in the retail business is (1) Price (2) Customer Relation. If this two are done rightly you get to have a steady and reasonable sale. This is the popular trend in this sort of business.

Target Market

Actually almost all, in fact saying “LL” is in its entirety a fact will be needing our services, but below are some of our identified target:

  • School Children
  • Smaller retail business owners
  • Hotel and Bars and Motels
  • Street Workers

Like earlier stated, one of the key success to our business will be based on customer relation. So our business will primarily be promoted by our good customer relationship scheme. We will also be making other plans so as to inform all resident of Las Vegas of our business, below are some of them:

  • Distribution of business card far and wide
  • News media based adverts using the following medium Television, Radio, Newspaper and Magazines
  • We would also make reasonable use of the social media to target residents of Las Vegas.
  • We would be making Sign post, Bill boards and fliers to also inform people about our business.

Financial Plan Source of Startup Capital

To become successful in the business, enough resources would be needed. So far we have been able to gather a total of $600,000 from the owner, Janie Schmidt. We will need to obtain a loan of US400, 000 from the owner’s bank to complete the startup capital.

Below are the sales forecast for the first three years of operation. This is an estimated figure based on quality and valid statistical figure received from the industry.

First Fiscal Year              $800,000 Second Fiscal Year $1,500,000 Third Fiscal Year $2,200,000

This article containing a sample business plan for a convenience store with the name Skywalk convenience store owned and headed by Janie Schmidt, will be carrying out their activity in Las Vegas, United State.

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Convenience Store Market Size 2024 With The Increasing Need To Extend Outlook 2030

Convenience Store Market

Convenience Store Market Overview 2024

Latest Study on Industrial Growth of Convenience Store Market 2024-2030. A detailed study accumulated to offer Latest insights about acute features of the Convenience Store market. The report contains different market predictions related to revenue size, production, CAGR, Consumption, Growth Opportunities, Market Trend and Technologies, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary and SWOT analysis.

Get a Sample PDF of report @ https://www.360marketupdates.com/enquiry/request-sample/24034346

Major Key Players of the Market:

The global Convenience Store market size was valued at USD XX Million in 2022 and will reach USD XX Million in 2028, with a CAGR of XX% during 2022-2028.

The Convenience Store market report covers sufficient and comprehensive data on market introduction, segmentations, status and trends, opportunities and challenges, industry chain, competitive analysis, company profiles, and trade statistics, etc. It provides in-depth and all-scale analysis of each segment of types, applications, players, 5 major regions and sub-division of major countries, and sometimes end user, channel, technology, as well as other information individually tailored before order confirmation.

Meticulous research and analysis were conducted during the preparation process of the report. The qualitative and quantitative data were gained and verified through primary and secondary sources, which include but not limited to Magazines, Press Releases, Paid Databases, Maia Data Center, National Customs, Annual Reports, Public Databases, Expert interviews, etc. Besides, primary sources include extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs, and marketing executives, downstream distributors, as well as end-clients.

In this report, the historical period starts from 2018 to 2022, and the forecast period ranges from 2023 to 2028. The facts and data are demonstrated by tables, graphs, pie charts, and other pictorial representations, which enhances the effective visual representation and decision-making capabilities for business strategy.

TO KNOW HOW COVID-19 PANDEMIC AND RUSSIA UKRAINE WAR WILL IMPACT THIS MARKET – REQUEST SAMPLE

This study also covers company profiling, specifications and product picture, sales, market share and contact information of various regional, international and local vendors of Convenience Store Market. The market proposition is frequently developing ahead with the rise in scientific innovation and M&A activities in the industry. Additionally, many local and regional vendors are offering specific application products for varied end-users. The new merchant applicants in the market are finding it hard to compete with the international vendors based on reliability, quality and modernism in technology.

In-depth analysis of Convenience Store market segments by Types:

Detailed analysis of Convenience Store market segments by Applications:

Regional Analysis for Convenience Store Market:

– APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka) – Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania) – North America (U.S., Canada, and Mexico) – South America (Brazil, Chile, Argentina, Rest of South America) – MEA (Saudi Arabia, UAE, South Africa)

Feel Free to Ask Question Before Purchasing the Report at https://www.360marketupdates.com/enquiry/pre-order-enquiry/24034346

What to Expect from this Report on Convenience Store Market?

1. A comprehensive summary of several area distributions and the summary types of popular products in the Convenience Store Market. 2. You can fix up the growing databases for your industry when you have info on the cost of the production, cost of the products, and cost of the production for the next future years. 3. Thorough Evaluation the break-in for new companies who want to enter the Convenience Store Market. 4. Exactly how do the most important companies and mid-level companies make income within the Market? 5. Complete research on the overall development within the Convenience Store Market that helps you select the product launch and overhaul growths.

Detailed TOC of Global Convenience Store Market Insights and Forecast to 2030

Major Points from Table of Contents

Global Convenience Store Market Research Report 2024-2030, by Manufacturers, Regions, Types and Applications

1 Introduction 1.1 Objective of the Study 1.2 Definition of the Market 1.3 Market Scope 1.3.1 Market Segment by Type, Application and Marketing Channel 1.3.2 Major Regions Covered (North America, Europe, Asia Pacific, Mid East and Africa) 1.4 Years Considered for the Study (2015-2030) 1.5 Currency Considered (U.S. Dollar) 1.6 Stakeholders

2 Key Findings of the Study

3 Market Dynamics 3.1 Driving Factors for this Market 3.2 Factors Challenging the Market 3.3 Opportunities of the Global Convenience Store Market (Regions, Growing/Emerging Downstream Market Analysis) 3.4 Technological and Market Developments in the Convenience Store Market 3.5 Industry News by Region 3.6 Regulatory Scenario by Region/Country 3.7 Market Investment Scenario Strategic Recommendations Analysis

4 Value Chain of the Convenience Store Market

4.1 Value Chain Status 4.2 Upstream Raw Material Analysis 4.3 Midstream Major Company Analysis (by Manufacturing Base, by Product Type) 4.4 Distributors/Traders 4.5 Downstream Major Customer Analysis (by Region)

5 Global Convenience Store Market-Segmentation by Type 6 Global Convenience Store Market-Segmentation by Application

7 Global Convenience Store Market-Segmentation by Marketing Channel 7.1 Traditional Marketing Channel (Offline) 7.2 Online Channel

8 Competitive Intelligence Company Profiles

9 Global Convenience Store Market-Segmentation by Geography

9.1 North America 9.2 Europe 9.3 Asia-Pacific 9.4 Latin America

9.5 Middle East and Africa

10 Future Forecast of the Global Convenience Store Market from 2024-2030

10.1 Future Forecast of the Global Convenience Store Market from 2024-2030 Segment by Region 10.2 Global Convenience Store Production and Growth Rate Forecast by Type (2024-2030) 10.3 Global Convenience Store Consumption and Growth Rate Forecast by Application (2024-2030)

11 Appendix 11.1 Methodology 11.2 Research Data Source

Continued….

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Moscow-City – The Moscow International Business Center

  • 3 years ago

The Moscow Intenational Business Center

Moscow-City is an iconic location for life and work in Russia’s capital. Enormous skyscrapers, business centers, the best restaurants and retail spaces – all this is concentrated in one place. The ultramodern Moscow-City towers are truly striking in their outward appearance, and the layout of the apartments inside and the fantastic views that can be seen from the higher floors are nothing short of impressive.

This skyscraper compound, often referred to as Moskva-City, is the Russian take on Manhattan, where businessmen strike multi-million dollar deals daily while ordinary life goes on next door. Its state of the art spaces offer the ultimate convenience. The infrastructure of this business district is so well-developed that anyone can find something interesting for themselves here: from residential apartments to boutiques, clubs, exhibitions and more.

When the foundations for the Moscow-City skyscrapers were laid, a special kind of concrete was used, the properties of which are amplified by many times compared to standard concrete. Even in the event of a plane crashing into one of the buildings, the structural integrity of the towers will be preserved.

The architects of the Moscow-City Business Center have created a unique locality that has integrated into itself the hub of the capital’s business life and a whole ensemble of historical monuments. Anyone can admire the beauty of these skyscrapers from within or without the compound. There are also a number of apartments for sale or rent available in the MIBC itself. But first, let’s have a look at some more interesting facts about the financial core of Russia’s capital.

  • 1 How It All Began
  • 2.1 Moscow-City Central Core
  • 2.2 Tower 2000
  • 2.3 Evolution Tower
  • 2.4 Imperia Tower
  • 2.5 Moscow Tower and St. Petersburg Tower
  • 2.6 Steel Peak Tower
  • 2.7 Federation Tower
  • 2.8 Mercury City Tower
  • 2.9 OKO Tower Complex
  • 3.1 Afimall City Shopping Center
  • 3.2 Bagration Bridge
  • 3.3 Expocentre Fairgrounds
  • 4 Renting and Buying Real Estate in Moscow-City

How It All Began

The history of Moscow-City goes all the way back to 1992. The government of Moscow at the time wanted to bring into existence its own skyscrapers like the ones in London or New York. And the idea caught on. In 1992 the project for the construction of the huge “Moscow-City” MIBC compound was enthusiastically approved, kick-starting the painstaking preparatory works. The original intention was that the skyscrapers would only house office space. However, as time went on, the towers began to welcome in ordinary residents who wanted to live on the territory of this business and finance hub.

Moscow-City is undoubtedly a city within a city. Its grandeur is mind-boggling. It is perfect in every way: from location to infrastructure. And today, anyone can get a feel of the atmosphere of the “capital city” of Russia’s business world – many of the apartments in Moscow-City are available for rent. Any citizen of Russia and even nationals of other countries can make use of these offers.

What It’s Like in 2021

Today Moscow-City is not just a magnificent and fascinating sight, but also a real hub for the work, life and leisure of thousands. Its infrastructure is organized in such a way that there is no need to leave the territory of the “city within a city” at all. This business district contains everything one may need for work and recreation. And if one does decide to venture out into the larger metropolis, the MIBC’s three subway stations make this remarkably simple to do.

Moscow-City stands on the Presnenskaya Embankment . Each of the buildings in the district has a name, which simplifies its identification. Some of the buildings form complexes that are united under one name, such as the Neva Towers and the Naberezhnaya Tower complex of two skyscrapers and one high rise. There are a total of 16 towers in the MIBC, of which the most popular are:

  • Moscow-City Central Core;
  • Tower 2000;
  • Evolution Tower;
  • Imperia Tower;
  • City of Capitals (Moscow Tower and St. Petersburg Tower);
  • Steel Peak Tower;
  • Federation Tower;
  • Mercury City Tower;
  • OKO Tower Complex.

Moscow-City Central Core

This is the most complex building within the MIBC compound. Its total floor area is a whopping 1 476 378 sqft (450 000 m²). It consists of two massive parts, each of which boasts a truly impressive infrastructure. The underground part includes 3 Moscow Metro stations, a parking lot for automobiles and a shopping mall. The aboveground part houses a concert hall and a hotel.

Tower 2000 is a skyscraper having 34 stories. Its total floor area is 200 318 sqft (61 057 m²), most of which is office space. The key feature of this skyscraper is its direct connection to the Bagration Bridge, which has its own shopping arcade. The tower has everything one may need while working here, including a large parking lot and several restaurants.

Evolution Tower

This elegant structure is 836 feet (255 m) high – that’s a whole 54 stories! The total floor area here is 554 462 sqft (169 000 m²). The Evolution Tower’s key feature is that it has its own Wedding Hall. This skyscraper houses large office spaces, a parking lot and several restaurants.

Imperia Tower

MIBC’s Imperia Tower is the undeniable focal point of the MIBC’s business life. Its height is 784 feet (239 m), which means one can hold conferences and resolve key business matters on the 59 th floor! And that really is amazing! The tower has everything: offices, hotels, restaurants and parking lots. But if you want a truly unforgettable experience, visit the viewing platform! It is situated on the 58 th floor and a simply astounding view of Moscow can be seen from it.

Moscow Tower and St. Petersburg Tower

The Moscow and St. Petersburg Towers are the chief representatives of the MIBC. The Moscow Tower has 76 stories and is 990 feet (302 m) high, while the St. Petersburg Tower has 65 stories and stands 843 feet (257 m) tall. Both towers offer fantastic views of the capital city.

Most of the floors of these two skyscrapers are taken up by luxurious sky apartments. There are also several recreational and entertainment centers, office spaces, restaurants, etc.

Steel Peak Tower

Also known as the Eurasia Tower of Moscow-City, this supertall skyscraper has a total of 680 912 sqft (207 542 m²) of floor space. Most of this is taken up by offices, and the rest – by residential quarters (around 65 616 sqft or 20 000 m²). The tower also houses a number of the greatest restaurants, studios and shopping centers.

Federation Tower

The Federation Tower is a complex of two skyscrapers, known as Tower East and Tower West. Tower East is the second highest building in Europe (the first is a skyscraper recently erected in the city of St. Petersburg). Its height is a colossal 1 223 feet (373 m) and that makes 95 stories! Tower West, on the other hand, is noticeably shorter at 794 feet (242 m).

The Federation Tower is a multifunctional complex.

Mercury City Tower

The Mercury City Tower skyscraper is widely known as one of the tallest buildings in Europe. Its height is 1 112 feet (339 m) and it has 75 stories. It is multifunctional by concept, holding within its walls shopping centers, offices and all kinds of other spaces. It is also possible to rent apartments here.

OKO Tower Complex

The OKO Tower Complex consists of two towers – the North Tower (49 stories and 803 ft or 245 m in height) and the South Tower (85 stories and 1 155 ft or 352 m in height).

Each of the MIBC’s tower complexes has its own recreational and entertainment areas, restaurants and parking lots. The top floors of most of these buildings contain luxurious fully-furnished apartments. At night, the towers shine with bright lights, while inside them the panoramic windows reveal astounding views of Moscow. This breathtaking view of the capital of Russia is why visiting Moscow-City is a must!

What Not to Miss

There are many interesting landmarks within the Moscow-City compound, but three of them are truly deserving of special attention:

  • The Afimall City Shopping Center;
  • The Bagration Bridge with two galleries and a shopping arcade;
  • The Expocentre Fairgrounds.

Afimall City Shopping Center

The Afimall City Shopping and Entertainment Center is located in Moscow-City’s Central Core. It is divided into 4 zones, each with its own theme – one for every season of the year. The shopping center houses the biggest indoor fountain found worldwide. The height of this watery wonder is 118 feet or 36 meters.

The shopping and entertainment center contains everything one might expect from one of the largest centers of its kind:

  • Retail brand stores;
  • Exhibitions;
  • Game rooms;
  • and Restaurants.

The main recreational space is roofed with a giant transparent dome, which is an impressive sight to behold.

Bagration Bridge

Bagration Bridge with its upper and lower galleries has a shopping center all of its own and was the first structure to be built as part of the Moscow-City business district. Its lower gallery is a shopping arcade and its upper gallery is an open-air viewing platform with a spectacular view of the MIBC and the Moskva River. The hall of the bridge houses the 23 foot tall sculpture called “Tree of Life”. Having gone through the bridge via either one of its two galleries, a pedestrian would find themselves standing right on the Kutuzovsky Prospekt.

Expocentre Fairgrounds

The Expocentre Fairgrounds exhibition venue is located at the very heart of the capital. The first exhibition held at the Expocentre happened all the way back in 1959, much earlier than the MIBC was erected. Today it is the venue of many interesting events.

Exhibitions with very diverse themes are regularly held at this complex. An up-to-date schedule can be found on the official webpage of the Expocentre. The events can be free or fixed-price entry, depending on their type.

Renting and Buying Real Estate in Moscow-City

Moscow-City is not only a work and business hub, but also a residential neighborhood. Any citizen of Russia can rent or buy apartments or elite sky lounges here. The variety of residential real estate available inside the skyscrapers is impressive, including options for any pocket. The following buildings in the MIBC contain residential blocks:

This skyscraper has a mirror glass façade which reflects the passing clouds. Just imagine how beautiful that looks! Anyone can buy an apartment in the Federation Tower. Such properties are not only a good investment, but also a mark of prestige. The average price of residential real estate here is 45 million rubles for an apartment with a total floor area of 334 sqft (102 m²). The average price of a square meter (3.28 square feet) is in the range of 650 to 700 thousand rubles. There are two- and three-room apartments available in the Federation Tower, each with its own loggia. As for rent, the minimum price of one month’s stay in a three-room apartment in this skyscraper is 300 000 rubles per month.

The Mercury City Tower skyscraper welcomes citizens from all parts of Russia. This building is no less tall than the world-famous Dubai skyscrapers. Living in its apartments is a delight. The minimum cost of an apartment in the Mercury City Tower is 75 million rubles. The average price of a square meter (3.28 square feet) is 800 thousand rubles. And for those looking for a lower price point, some of the properties are also available for rent – in this case you will pay a minimum of 250 thousand rubles per month.

The Imperia Tower is a key cluster of interesting offers. The best options for buying and renting apartments within the MIBC can all be found in this skyscraper. The lowest price of a residential apartment here is 40 million rubles. A square meter (3.28 square feet) in a luxurious apartment in the Imperia Tower currently costs 600 thousand rubles, while the price range of the listings available for rent in this skyscraper is from 350 thousand all the way up to 1 million rubles per month.

This complex, standing on a faceted or “crystal” base, is an architectural engineering project boasting spectacular design. Behind its impressive façades is an abundance of penthouses and apartments having floor areas in the range of 262 sqft (80 m²) to 984 sqft (300 m²). The minimum price of an apartment in the OKO Tower Complex is 40 million rubles (the price of a square meter (3.28 square feet) is 500 thousand rubles). You can rent an apartment here starting from 400 thousand rubles per month.

City of Capitals

The City of Capitals is an exemplary architectural complex. Its sum appearance gives the impression of a huge city. Inside its walls are spacious apartments available for purchase and rent. This complex is considered to be especially prestigious. The prices of apartments here start from 50 million rubles, while the minimum cost of renting is 400 thousand rubles per month.

Please note! The price of real estate available for purchase or rent depends on: the tower, the floor, the total floor area, the furnishings and/or interior design, and other factors.

The key advantages of buying/purchasing real estate in Moscow-City are:

  • Favorable location;
  • Convenient transportation links;
  • Well-developed infrastructure;
  • High safety level;
  • Efficient architecture;
  • Panoramic windows.

Buying real estate in Moscow-City is very much a rational decision, most appealing to those who value the ultimate level of comfort. The residential apartments here boast impressive interior design solutions executed in the contemporary style.

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Convenience store with fuel may come to this section of Route 35 in Wall

business plan of a convenience store

WALL - Could a convenience store with fuel pumps come to a Route 35 property once home to an old now-demolished motel?

It's possible.

As part of the Old Mill Plaza Redevelopment Plan recently approved by the Township Committee, a convenience store and fuel-up combo is now permitted on a 2.38-acre Route 35 property near the end of Old Mill Road. A "Convenience Store with Fuel Concept Plan" is included in the document.

The property sits on Route 35 between a TD Bank branch and McDonald's, where a check cashing business and the Rodeway Inn Motel once stood. A damaged old sign still sits at its edge.

The Old Mill Plaza Redevelopment Plan sets the zoning rules that will govern future development on 82.5 acres located on the east and west sides of Old Mill Road, south of Eighteenth Avenue and extending to Route 35. It includes the Clayton Block concrete recycling facility, township officials told What's Going There.

Any development proposals still will require hearings before the township Planning Board. So far, plans for projects have not yet been filed.

And so far, neither of the two big convenience store players, Wawa and QuickChek, have a convenience store with an option for gas in that area of Route 35.

Wawa has a convenience store with no gas at Route 35 and Lakewood Road. The nearest QuickChek, which also doesn't have gasoline, is on Belmar Boulevard.

In Monmouth County, the brands are locked in a battle for convenience store dominance with Wawa building stores near QuickChek and vice versa. For instance, QuickChek has a store coming to the Asbury Circle in Neptune in between Wawa's store on Route 35 at Route 33 and a new one that Wawa expects to open at Deal Road in Ocean this summer.

In Wall, the centerpiece for the Old Mill Plaza Redevelopment Plan envisions apartments and condos for those age 55 and over in the area off Old Mill Road that is now a concrete recycling plant.

Here are the details, as outlined in the redevelopment report:

  • No more than 130 age-restricted townhouse units, of which 20%, or up to 26 units, will be affordable for sale to very-low, low and moderate income households. Amenities include facilities such as pickleball courts, bocce, a dog park, fire pit and seating and a shade pavilion with tables and benches.
  • 180 to 190 age-restricted one- and two-bedroom rental apartments, of which at least 20%, or 36 to 38 units, will be affordable to very low-, low- and moderate-income households. Amenities will include a pool, gardens, bocce, dog park, soft seating and shade areas with tables, benches and grills and possibly pickleball courts.

The development is part of the township's affordable housing plan, township Administrator Jeff Bertrand said. "It is important for multiple reasons."

"The good thing is they are getting rid of the cement crushing plant that was there," Mayor Tim Farrell said. "It is a great thing for the area. They (local residents) are not getting any residue from that cement being crushed."

It also will cut down on truck traffic to the site. "It is going to be very nice developments from the schematics I've seen," Farrell said.

David P. Willis, an award-winning business writer, has covered business and consumer news at the Asbury Park Press for 25 years. He writes APP.com's What's Going There and Press on Your Side columns and can be reached at [email protected].  Please sign up for his weekly newsletter  and join his What's Going There page on Facebook for updates.

business plan of a convenience store

Ontario to allow beer, wine and coolers in corner stores by 2026

Ontario is significantly expanding the availability of alcohol in the province, with a plan to allow beer, wine, cider, coolers and pre-mixed drinks to be sold at convenience stores, grocery stores and “big box” retailers by 2026.

The new regime, which Premier Doug Ford announced Thursday, is set to take effect after the expiry of the 10-year deal the province has with the quasi-monopoly Beer Store retail chain, which is controlled by multinational brewers Molson Coors and Anheuser-Busch InBev.

The plan aims to fulfill a marquee promise Mr. Ford and his Progressive Conservatives made when first elected in 2018 but then shelved after the Premier backed away from a potentially pricey legal battle with the Beer Store over breaking its contract.

The move to expand alcohol sales was praised by business groups and retailers, but sharply criticized by community mental health and addictions organizations. The latter expressed concerns about the harms associated with more readily-available alcohol, including increased hospitalizations, diseases and deaths.

The government says that by Jan. 1, 2026, beer, wine and some other alcoholic beverages will be sold in 8,500 more stores across the province. It will make Ontario the third jurisdiction in Canada to allow beer in convenience stores, after Newfoundland and Quebec .

With 2-month pilot, Toronto joins wave of Canadian cities legalizing alcohol in parks

The new regime will also end the Beer Store’s monopoly over the sale of 12-packs and 24-packs of beer, and allow convenience stores and other retailers to sell these or even larger 30-pack cases of beer.

And it will, for the first time, allow competitive pricing on alcohol, letting private retailers charge “promotional” prices for alcoholic drinks but with rules for minimum prices.

Speaking to reporters at a convenience store in Etobicoke on the west side of Toronto, Mr. Ford – who doesn’t drink alcohol – called the changes “the largest expansion of consumer choice and convenience since the end of Prohibition almost 100 years ago.”

He dismissed health concerns about the plan, saying it’s up to consumers to drink responsibly.

“We’ve got to start treating people like adults here in the province,” Mr. Ford said, adding that the move is “extremely, extremely” popular.

Dave Bryans, the chief executive officer of the Ontario Convenience Stores Association, said alcohol sales would be a big boost for many struggling mom-and-pop corner retailers. But he said he hoped beer could be on shelves before the 2026 start date, which is still two years away.

As part of Thursday’s announcement, the government also said it will spend an additional $10-million over five years through the Ministry of Health to support “social responsibility and public-health efforts.” The government also said existing requirements for staff training, minimum pricing, hours of sale and warning signs will apply to all new retail outlets.

But several mental-health organizations raised alarms about the move. In a joint statement, the Canadian Mental Health Association (CMHA) in Ontario, Addictions Mental Health Ontario, and Children’s Mental Health Ontario said the new regime will contribute to an increase in violence, injuries, alcohol-related crashes and death by suicide.

Leslie Buckley, chief of addictions at the Centre for Addiction and Mental Health in Toronto, said CAMH, which is Canada’s largest mental-health teaching hospital, is “deeply concerned” about the plan to dramatically expand the number of places where Ontarians can buy alcohol.

“Evidence shows that the expansion of alcohol availability, especially through private retail outlets, results in increased consumption and ultimately more alcohol-attributable hospitalizations, diseases and dea

ths,” she said in a statement.

Huge spike in drug- and alcohol-related deaths in Ontario, new report finds

The Beer Store, which has more than 400 outlets across Ontario, will continue to exist under a new deal with the province that runs to 2031. It will also remain the major wholesale distributor of beer, as well as continuing to run the province’s bottle-return system for alcoholic beverages.

The province’s own monopoly LCBO outlets, which sell all kinds of alcohol including beer, will largely stay the same. The LCBO will also maintain its current wholesale role.

The government is also introducing legislation to cut the 6.1-per-cent tax imposed on wine sales at stores in wineries, as well as extending existing support programs for local wine and cider makers.

The Ontario Public Service Employees Union, which represents LCBO workers, warned that expanding sales to corner stores would mean “cuts, layoffs and store closures as the private market takes over” – as well as significant lost revenue to the province. The union that represents Beer Store workers has previously said liberalizing beer sales would put their jobs at risk and lead to higher beer prices.

As part of the 2015 Beer Store deal, Ontario had already expanded beer sales to 450 grocery stores. The government also expanded alcohol sales during the pandemic, allowing restaurants and bars to sell takeout booze.

The day before the announcement, the province retreated on a pledge to dissolve Peel Region , west of Toronto, which Mr. Ford had promised to the late mayor of Mississauga, Hazel McCallion. The government said breaking up Peel, which consists of Mississauga, Brampton and Caledon, would be too costly to taxpayers and “disrupt” critical shared services such as paramedics and police.

Mr. Ford said Thursday that Ms. McCallion, who died earlier this year at 101, would not have wanted to harm public services or raise taxes.

“You know what Hazel would say? We can’t do it,” he said.

Follow Laura Stone on Twitter: @ l_stone Opens in a new window Follow Jeff Gray on Twitter: @ jeffreybgray Opens in a new window

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    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.

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    Convenience store industry sales rose 8.6% to $86.3 billion. Overall U.S. retail sales grew by only 6.3%, and grocery sales followed with 2.4% growth, proving once again that the convenience store industry has become a powerful force in U.S. retailing. Pre-tax profit margin in the convenience store industry was the highest in 15 years (1.8%).

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    What Is a Convenience Store Business Plan? A business plan provides a snapshot of your convenience store as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans. Why Do You Need a Business Plan?

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    A convenience store business plan is a written document that sets your company's financial goals and discusses how you'll reach them. A solid, comprehensive strategy will serve as a road map for the next three to five years of the convenience store business.

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    Learn how to create a solid business plan for investors & lenders with which template for your comfortable store. Template included. ... Studying how to create a solid economic plan for investors & creditors with such template used owner convenience store. Template included.

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    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.

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    Joseph December 20, 2023 Business Plan, Competitive Analysis A competitive analysis is not just a tool for gauging the position of your convenience store in the market and its key competitors; it's also a fundamental component of your business plan.

  17. How to Write a Convenience Store Business Plan: Complete Guide

    Business overview: start by introducing your convenience store business, where it can located, who products you will sells, and the pricing strategy you want to implement. Mention what sets you apart from select companies. For example, you can offer ampere hyper convenience store complete with a sit-down our, bakehouse, pharmacy, and more.

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  19. Convenience Store Business Plan [Sample Template]

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    The business will mainly be concerned with providing basic daily needs of each individual in our store. Skywalk convenience store will be owned by Janie Schmidt and she will be both the CEO and Manager of the store which will be based in Las Vegas. For a start our major target would be providing our services to people in Las Vegas alone and ...

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