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Retail | How To

Store Management: Managing a Retail Shop for Success

Published March 9, 2023

Published Mar 9, 2023

REVIEWED BY: Meaghan Brophy

WRITTEN BY: Brigitte Korte

This article is part of a larger series on Retail Management .

• 1 Build & Maintain a Great Team
• 2 Manage Your Inventory
• 3 Create Data-driven Sales Goals
• 4 Establish Procedures for a Clean & Organized Store
• 5 Lead Your Team
• 6 Initiate Marketing & Outreach Campaigns
• 7 Consider Expansion
• 8 Bottom Line

Store management is all the processes involved in running your store, including building your team, sourcing and managing inventory, driving sales, creating store policies and procedures, leading by example, and marketing your business. Effective retail shop management is one of the most important parts of ensuring your business’s success.

Here, we will look at all the hats an owner must wear to manage their store, keep everything running smoothly, and position their business for growth and expansion.

A point-of-sale system is one of the best ways to streamline your store management operations and keep everything running smoothly. Square for Retail is free for a single location and offers all the tools you need to run a retail store. Visit Square for Retail to learn more and open a free account.

Build & Maintain a Great Team

Retail shop management starts with building and maintaining a great team that can support you on the sales floor and help your business flourish. As a retailer, you will likely see high turnover among your employees. While this is a natural part of the industry, losing a staff member is costly for your business, so your objective is twofold:

• Recruit a large team that will be a good fit for your business and the available roles.
• Create a work environment that will help retain employees and maximize their potential.

Recruit a Team That Fits Your Brand

When recruiting your retail team , you should hire people who can represent your business well. Often, this means the ideal employee has interests that align with what your store is selling—they will be able to sell your products better and genuinely connect with customers on their interests.

The staff at my boutique was full of individuals interested in fashion. I can think of a few examples of where you may have seen this:

• Christy’s Sports: Its staff is made up of winter athletes with tons of knowledge about equipment for anyone from beginner to expert.
• Sephora: Every employee is interested in makeup and beauty and uses cosmetic products in their personal lives.

As you conduct job interviews and hunt for the perfect employees to work at your store, I suggest having a list of attributes that a perfect candidate possesses. This does not mean that you can only hire people with all these qualities, but having a list of ideals can be a great way to guide your interview process and help you find candidates that will represent your brand well. You might want to include these categories in your list:

• Product knowledge: You want someone who knows about your products or industry so that they act as an expert when selling and answering questions.
• Enthusiasm: You want someone who cares and is genuinely interested in your brand and the products you sell.
• Experience: If you own a higher-end retail location, you will want someone with sales experience, preferably within your industry.
• Customer interactions: You want a salesperson who can talk to shoppers, assist them, and treat them with care. People skills will play a huge role, so I suggest using a floor interview to see how prospective hires work with your customers .

A floor interview is an interview stage that typically comes after a spoken interview. It is when a candidate gets the opportunity to work with customers during a mock shift. This allows you to observe how they might be on the job and how they interact with customers.

• Personal interest: Ideally, the people you hire will be interested in your products or industry in their personal lives. This will show in their passion for the work, improving the customer experience and employee retention.

Consider Scheduling

Another key thing that you will want to account for when hiring your team is availability. Unlike the typical nine-to-five corporate role, retail stores are open later in the evening, weekends, and many holidays. Before bringing anyone on, you need to be clear about your availability expectations and ensure that you will have enough staff to cover your store at all times.

Not sure what your store hours should be? Check out our article How to Determine Retail Store Hours to learn more. Also, consider offering holiday pay to ensure coverage during hard-to-fill shifts.

My suggestion here would be to draw out a weekly schedule so you can see how many people you need in your store for any given shift. For example, you might want only one person on staff for the Friday morning shift, but for the evening shift, you expect your store traffic to pick up, so you need three people on the schedule. For holidays, sketch out your staffing needs months in advance and nail down staff members as soon as possible.

With Square, you can create schedules straight from your POS account, assign roles for each shift, and see how much each person is set to make throughout the week. (Source: Square)

You will get a better idea of when you need more and less staff as time goes on, and your needs will change seasonally. When starting out, you can use the standard formula of 2.5 employees for every 1,000 square feet. However, this can vary based on the type of shop you have. Use store traffic as a cue for scheduling and ongoing hiring initiatives.

Square for Retail has built-in scheduling and team management, so you can set access permissions, build schedules, create staff roles, and delegate tasks. Plus, if you upgrade to Teams Plus for $35/month, you get shift management and an employee app where they can manage their own time.

Onboard and Train Your Staff

Once you have selected the people you want for your team, you want to set them up for success with strong onboarding and training. To do your training well and reach a point of trust with your staff, you must approach onboarding in an organized manner. I suggest making an onboarding training plan with checklists for everything you need to teach your new hire each week.

For example, at my store, I covered all computer operations in week one. This was the most technical part of the associate role, so I wanted to give lots of time for that particular task. From there, I would train on store organization and processes in week two, and use week three as a chance for the new employee to practice everything with me in-store. At the end of week three, we would do a check-in to review anything and assess whether the new employees are ready to work solo shifts.

Keeping an organized checklist not only ensured I didn’t miss any training topics but also offered a point of reference for associates as they were going through onboarding. Areas you should include in your checklist are:

• Customer service: Return policies, complaint policies, how to speak to customers, etc.
• Store operations: Opening and closing duties, new merchandise procedures, contact references, how everything is organized, etc.
• Sales: Making suggestions, upselling and cross-selling, best-selling products, product knowledge, etc.
• Computer/POS operations: Ringing up customers, conducting returns, printing tags, running reports, pulling daily numbers, etc.
• Loyalty program : Acquisition of new members, what the program includes, signing people up, etc.
• Perks: Parking, overtime rate, employee discounts, commission structure, events or odd hours, etc.

Typically, onboarding training will take between two to three weeks for retail jobs; by that time, you should have reviewed all the topics in your training plan, and associates should feel ready to work solo. Obviously, you should still be available to your staff for questions at any point, but they should have baseline confidence by the end of their initial onboarding to handle the store on their own.

The most successful retail operations incorporate ongoing training well after employees are onboarded. Regular staff meetings to train on new products and initiatives, on-the-floor coaching and feedback around customer interactions and sales opportunities, and role-playing customer service scenarios are all part of growing a stellar and cohesive retail team.

For example, at my store, we would have a monthly, company-wide training session an hour before opening to review an area of training with our managers. This was great because it allowed shop managers to review areas that were lapsing, go over key customer service initiatives before big events, and keep staff fresh and on their toes.

Manage Your Inventory

In addition to building a team, managing a retail store also includes responsibility for inventory. Inventory management includes all the processes that keep the right amount of product on your shelves at all times. This means spotting stockouts before they happen, placing reorders in a timely manner, and budgeting accordingly.

I would suggest adopting an integrated POS system, like Square for Retail, to track your inventory levels in real time, run reports, and send low-stock alerts.

Otherwise, you can track your inventory levels manually using a spreadsheet. Below, we offer a free inventory management workbook you can use to track stock levels.

Download Free Inventory Management Workbook

Conduct Regular Inventory Counts

A major part of inventory management is conducting regular inventory counts. Inventory counts help you spot shrinkage problems and provide an accurate look at the inventory you actually have on hand at that time—not just what the computer says you have. Typically, you will use a barcode scanner to do inventory counts. For this, you will either need to purchase a standalone scanner that is compatible with your POS or, if you are using the Square app on a mobile device, the camera becomes a barcode scanner.

Scan and log your inventory counts straight onto your POS system with Square for Retail. (Source: Square)

In general, there are two major kinds of inventory counts:

• Cycle Counts: This involves counting a small portion of your inventory each day, week, or month to make the counting process more manageable. This method also allows you to count products with a high sell-through rate or value more frequently.
• Annual Counts: This is when you do a yearly count of all of your inventory, typically for tax purposes.

The first step in an inventory count is figuring out how much of a product you should have. This will be based on how many items you originally ordered minus what you have sold. If you use a POS system, inventory levels are tracked live with each sale, so your expected quantity is calculated for you. Otherwise, you will have to do the math yourself.

From there, all you do is count the number of products you actually have in stock and determine if there are any discrepancies between your projected and actual quantities. This discrepancy is known as shrink, and you should seek to find its source as soon as it is identified.

If you need more guidance on establishing a full process, read our guide to retail inventory management .

Source Your Shrinkage

As mentioned above, inventory shrinkage refers to any discrepancies in the number of products you thought you had and the number you actually have, based on your inventory counts. Any time you detect shrinkage, you should determine where it is coming from so you can take steps to prevent it in the future.

Typically, you will investigate three potential shrinkage sources:

• Employee theft: To uncover this, you would look at your transaction history for any faulty sales or your security footage for any evidence of employee shoplifting. Employee theft typically results in immediate job termination, setting a precedent for your staff.
• Customer theft: To uncover this, you should look for any signs of theft in your fitting rooms or around your store (removed security or price tags, empty hangers, out-of-place merchandise), as well as security footage. If you find the person who stole from you, be sure to provide a visual of them for your staff, so they know who to keep an eye on. Typically, it is not worth it to press charges for shoplifting offenses.
• Clerical errors: This is when there is something wrong in your inventory records, so you don’t have an accurate image of what your inventory levels should be. To uncover this, you should look at all your receiving counts and transaction history to determine where there was a miscount and what that miscount is.

Once you identify where your shrinkage is coming from, you should either take steps to create a more accurate inventory management system or take security measures to reduce retail theft .

Organize Your Stock Room

Another important part of inventory management is organizing your stock rooms so products are easy to find and nothing gets lost in confusion. This will also make it easier for your employees to find things and let you store more merchandise in less space.

Organized stockrooms will prevent loss and make your employees’ lives easier. (Source: EZR Storage)

The first thing you will want to do is purchase fixtures for storing merchandise. Once you choose your fixtures, it is time to choose an organizational system. This can look many different ways, and no two stores will have the same system—it really depends on your store operations and what system makes sense to you. My biggest pieces of advice for organizing your stockroom are to:

• Label everything.
• Create a system flexible enough to work as your inventory changes.
• Create a system that is intuitive so that you can teach it to your staff.

For example, at my boutique, we used floor bins with removable labels for any foldable pieces and pants. We had a hanging system for the rest of our stock based on color, sleeve length, and type of garment. Removable labels and broad organizational categories made this system easy to update and adaptable to all kinds of merchandise. Additionally, the system was pretty simple and well-marked, so my associates could maintain it perfectly!

For more on how you can make your inventory management more efficient, check out our article on inventory management software .

Maintain a Strong Product Sourcing Network

When it comes to good inventory management, another component you should consider is your network of product suppliers. Having a directory of dependable suppliers will ensure that you can get the products you need when you need them. This means finding online marketplaces and attending trade shows.

For sourcing online, I would suggest using Faire or Tundra (both among our recommended wholesale suppliers). They offer a wide host of products and easily navigated websites for retailers.

If you are looking for other great wholesale suppliers, check out our guide to the Best Wholesale Suppliers for 2023 .

Tundra lets you shop from thousands of wholesale suppliers. (Source: Tundra)

Faire offers a host of artisan brands and one-of-a-kind goods for your store. (Source: Faire)

Tradeshows are another great way to source products and they let you see items in-person before you buy. (Source: Displays2Go)

While online sourcing is a convenient and easy way to source products, you should also attend trade shows. This is where a group of wholesalers, typically related in the type of products they sell, gather so retailers can shop their merchandise. This is a great opportunity to see products in person and form relationships with your suppliers.

If the last few years have taught us anything, it is that the supply chain is unreliable. The best way to ensure you always have suppliers to stock your shelves is to connect with as many as possible. Numbers will ensure that you have backup plans and aren’t reliant on any one source. This is especially true for your best-selling and staple items.

You can use this trade show website to find relevant trade shows near you or use our guide to the Best Retail Trade Shows in 2023 (+ Calendar Download) .

Create Data-driven Sales Goals

The best way to keep your store on track and ensure that you are managing it well is to set sales goals. I would recommend making your goals granular , providing daily, weekly, monthly, and annual goals that you and your staff can aim to achieve. Keep these goals visible to all and make sure you emphasize them daily. This is a great way to motivate your staff and keep everyone on the same page.

If you are just starting and have no sales data to base your goals on, I recommend using your annual retail budget as a guide. Your budget should include all of your outgoing expenses, giving you a picture of just how much you need to sell to yield a profit.

Otherwise, you will want to use past sales reports to set your sales goals. You can set your goals however you like, but you generally want to see growth year over year, so setting your sales goals 5%–10% higher than your previous year’s sales number will help you see if you are hitting that growth.

You can access and run reports about past sales data using Square for Retail’s reporting tools, including day-of-week reports, time of day, and daily, monthly, and annual views. (Source: Square)

Another important factor to consider when setting daily goals is the day of the week. Typically, you can expect Thursday-Sunday to yield higher traffic and sales versus the beginning of the week. Be sure to set daily goals that are attainable and match traffic patterns and sales opportunities.

We recommend using a 4-5-4 or 4-4-5 retail calendar to help you make accurate and attainable sales comparisons and goals year over year.

Write Weekly Sales Reports

A key part of creating and monitoring sales goals is keeping weekly sales reports. It is a great practice to take a detailed look at every week and address problems as they arise. Weekly sales reports are also useful if, as a store owner, you decide to take a step back and hire a manager.

At my store, for example, the manager of each location would send weekly status reports to the business owners. This would help them keep tabs on their stores even when they weren’t there and gave managers the opportunity to give more insights into individual stats and figures.

As your business grows, you may find that you have enough revenue to hire a manager and need more time to focus on your role as the owner. Weekly sales reports from your acting manager will allow you to maintain oversight over your storefront and keep your store on track.

The types of things you should include in your reports are:

• Sales targets: Take a look at where you stand in terms of your daily, weekly, monthly, and annual sales goals.
• Inventory feedback: Note any low-stock items or pieces that have been remarkably popular or unpopular.
• Staffing feedback: Note any scheduling problems you might have had, if a staff member was exceptional, or any problem areas.
• Supply needs: Note any store supplies that you went through that week or anything that might be running low (cleaning supplies, employee snacks, hangers, tags, etc.).
• Event reports: Analyze the success of past events and look forward to how you will prepare for others in the future.
• HR notes : Leave a place where employees can leave anonymous feedback for store management and/or ownership.
• Ideas : Leave room for your managers to pitch event, promotional, or partnership ideas. Your managers work in-store every day, so they will have a pulse on their buyers and the surrounding community.

Establish Procedures for a Clean & Organized Store

While maybe not the most glamorous part of your job, one of the biggest aspects of retail shop management is keeping your store tidy and organized. This means properly maintaining any merchandise and store design elements, putting products away as they get used, and implementing a cleaning routine so that everything stays sanitary.

Keeping your storefront clean and tidy will make it more inviting to customers and easier to shop. (Source: Pinterest)

Daily Task Lists

The best way to ensure that your store stays clean is to create daily task lists. For example, at my boutique, we had two to four cleaning and organizational tasks each day of the week. Mondays would include cleaning mirrors, dusting tables, and restocking our shopping bags and other checkout supplies. On Tuesdays, we would sweep the floors and clean the glass exterior of the store.

This system made it so we never had more than 45 minutes of cleaning each day and accomplished everything we needed to stay on top of the space each week. As you look at your store, think about all the things you would do to give your space a deep clean. List everything and then divide those tasks among the days of the week.

Depending on your space and traffic volume, you may need to perform some tasks, like sweeping the entrance or wiping the checkout counter, at least daily.

Remember, Fridays and Saturdays are going to be your busiest days in terms of foot traffic. You will likely want to limit or completely omit deep cleaning tasks on those days. The days following your busy days, Sundays and Mondays, will likely need more elbow grease.

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Daily Task List

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Opening and closing procedures lists.

Opening and closing procedures are also part of good store management. These are essentially lists of everything you or your associates should do before opening each day and closing each night. These tasks should prepare your store for customers each morning and then offer a reset at night.

You can also download our free opening and closing procedures checklists below. We recommend printing these lists and laminating them for your store binder. Then associates can use expo markers to check things off each day, and then erase the list at the end of the week for a fresh start.

Opening Procedures

For opening procedures, you are waking up your space and readying it for customers before the door opens. Opening duties should take about 30 minutes, so staff should arrive early to complete them. These are the areas you should focus on for opening procedures:

• Start all systems: Open your register, start your computer, get the music going, open your POS software (if applicable), and turn on all lights and heat/AC.
• Cash logs: Count all the money in your register and spare change bag. Record your cash amounts daily so that you can spot and source any discrepancies.
• Entryway cleaning: Sweep and clean the entrance of your store and wipe down the checkout counter. This area gets the most foot traffic and brings in the most outside dirt, so it will need daily maintenance before opening.
• Goal check: As you know, you should be displaying your daily goal. When opening, be sure to swap out your daily goal from the day before and display the new one.
• Big sweep: Walk through the entire store once and look for anything that might be out of place before you open the doors.

Closing Procedures

Closing procedures reset your store for the following day, undoing any messes that may have arisen, and recording your sales activity. As with opening duties, closing duties will take about 30 minutes and should be done after store hours. Here is a list of the areas you should focus on for closing procedures:

• Restock sold merchandise: You can do this during the day as well, but at closing, you should check your sales floor and ensure that any sold merchandise has been replaced.
• Theft check: Be sure to check fitting rooms and other concealed areas for signs of theft, such as removed tags or security vessels, or swapped packaging.
• Record daily sales: Record your daily sales number and compare it to your daily goal. If an employee is closing, they should report these numbers to the manager and/or owner. If you use a POS system, you can schedule automated emails to be sent at the close of business. This is also when you will reconcile your POS system and transactions.
• Cash logs: Count all the money in your register and spare change bag. Remove any money from cash purchases, so all that remains is your cash float. Record your cash sales amount daily (and recount the float cash every morning) so that you can spot and source any issues.

Cash float (also known as cash register float or cash drawer float): The amount of cash kept in the register for making change. It’s common for retailers to keep $50–$200 in small bills and change in each register. It’s important that this number stays consistent and is tracked diligently, at least at every closing and opening, to spot any potential theft. Learn more about cash float .

• Big sweep: Walk through the store once before you leave for the night and look for anything that might be out of place.

Lead Your Team

Part of managing your retail store is setting the work environment and ethics for your space. How you interact with your customers, take care of your store, and present yourself each day will massively impact your staff and their performance.

Additionally, leadership in retail store management includes making your staff excited to be a part of the team and ensuring they feel heard and respected. A good leader inspires by setting a strong example and creating a positive environment. This will make things more pleasant for everyone and motivate your associates to perform better for your brand.

Motivate Your Staff With Rewards

You can create a positive work environment and motivate your staff by creating a rewards or commission structure . From my experience, using a blended approach that rewards both team and individual performance works best. For example, individuals could earn a sales commission, while there is also a team bonus for meeting a monthly sales goal.

Less formal rewards like gift cards, small treats for your highest-performing associate of the week, or a dinner or get-together after a big sales day can also be effective. Whatever you can do to motivate your employees and demonstrate your appreciation for their efforts will pay off and make working for your store all the more fun.

You can use Square for Retail’s team management tools to track individual performances and see which employees are excelling and deserve recognition.

Proactively Listen to Your Staff

Advocate for your staff and be open to any discussions, questions, and even complaints. As the owner of a small business, you will also likely play the role of an HR person for your staff. Be sure that you create an inviting environment where employees feel like they can talk to you and expect their feedback to be addressed. You might even consider incorporating a place where employees can leave anonymous feedback or sending out employee surveys to get a pulse of your employees’ workplace satisfaction.

Check out our rundown of Company Culture Ideas To Engage Employees & Drive Results to help you foster a happy and productive workplace.

Creating this space where employees feel safe is a huge part of retaining your staff. Treat your staff with compassion, respect their needs, and offer an open discourse about store policies and job satisfaction.

Did you know?

Replacing your employees is expensive. Studies show that replacing an employee can cost from half to twice their annual pay. Read more employee retention stats .

Lead By Example

Show your employees what you want from them through your actions. As part of managing your store, you set the overall tone for everything that happens. How you lead makes a significant impact on how your staff performs and understands their job expectations. You should be the best salesperson, the most helpful customer service agent, the most meticulous cleaner and organizer, and the most motivated person on the floor.

Initiate Marketing & Outreach Campaigns

An essential part of growing your business and revenue is to retain your existing customers and expand your customer base. Both of these objectives depend on good marketing and customer outreach. Retail marketing can help you to foster customer loyalty, reach new audiences, and drive your bottom line.

Plan for the year ahead and stay on top of all your goals with a retail marketing calendar. Check out our retail marketing calendar guide to download our free calendar to get started.

Here are a few ways to incorporate retail marketing strategies into your day-to-day store management tasks:

Get Involved in Your Neighborhood

Get out and get to know your neighbors. If you can build relationships with your neighboring businesses, there is a great opportunity to share your customer bases and mutually benefit. Do partnered events, host pop-ups in each other’s spaces, share marketing materials, and work together to refer and help each other grow.

At my store, each month, I would schedule someone (or myself) to go to all the neighboring businesses around our store and deliver $10 coupons. My storefront was in a busy outdoor shopping center, so these coupons helped drive foot traffic to our store and build relationships with our neighbors.

Try a Loyalty Program

Another thing that you can do is introduce a loyalty program . You can customize your loyalty program with different features and structures, but these programs generally have the same basic system: For access to exclusive discounts and information, customers offer their contact information, typically both phone and email. This allows you to reach out to your loyal customers with these exclusive offers, fostering their loyalty and incentivizing them to spend with you.

Two-thirds of consumers say that offering a loyalty program is critically important to winning their lasting loyalty .

The best way to get people to sign up for a loyalty program is to engage with them at checkout. At this stage, customers are already engaged and ready to purchase from your store, so they are the best candidates to become loyalty members.

Train your staff to tell every customer checking out about your loyalty program and what it offers. To ensure they include all relevant information, create a loyalty program spiel checklist. It should include items like:

• Your sign-up offer
• The exclusive deals for loyalty members
• What members can expect from your communications
• Sign-up process

To get started with a loyalty program , you have a few options. Either, you can integrate a loyalty program software into your existing POS system, create and run a loyalty program manually, or you can use the loyalty program already integrated into your POS.

Square for Retail, for example, has a loyalty program you can customize and manage for all of your members straight from your POS account.

SMS & Email Marketing

Even if you do not have a loyalty program to help you collect customer information, you should still work to gather emails and phone numbers to utilize SMS and email marketing strategies .

Create acquisition procedures similar to those used for loyalty members:

• Train your staff to ask for contact information in a way that lets customers know what benefits they will reap for sharing.
• Keep a sign-up sheet by your register where people can leave their information.
• Create an email portal on your website where people can register their emails.

From there, you will want to either adopt an SMS/email marketing software or send out messages manually. When starting, sending weekly emails to your subscribers is a safe cadence. You can experiment with more or less frequent sends to see what will work best for your business. Even better, you can segment your lists to email your VIP customers and those most engaged with your content more frequently, while maintaining a more moderate cadence for your occasional shoppers.

Square for Retail offers SMS and email marketing add-on that allows you to store contact information and then send and manage messages straight from your POS accounts.

In terms of what your messages should include, the goal here is to keep people up to date and maintain your brand’s top-of-mind recognition. Let shoppers know about events, sales, new arrivals, discounts, partnerships, or other exciting things going on at your store. Anything that you think might spark interest and drive traffic is worth sharing—just don’t flood your customers with too many messages! One to two texts or emails per event and no more than two messages a week are good rules of thumb.

Your Social Media Presence

Times are changing, and, more and more, social media is how people discover new brands and shop for products. To compete in this market, your brand needs to have a social media presence, as well as shoppable storefronts, on Instagram , Facebook , and even TikTok . This will not only give you additional sales channels for customers to shop but will expand your reach and help new customers find your store.

US social commerce sales are set to grow 34.4% this year, rising to $53.1 billion. You definitely don’t want to miss this revenue opportunity.

This brand uses social media to showcase its products and advertise its sales. (Source: Rustic Thread via Instagram)

The Doggy Deli showcases its products with content from real users. (Source: The Doggy Deli via Instagram)

A home workout equipment brand uses its social media to show how its products can be used and to showcase inspiring content. (Source: Bowflex vis Instagram)

Consider Expansion

As part of managing your store, your eyes should always be on the horizon for new opportunities. As the business grows under your leadership, you should look to expand. At first, this might look like holding more inventory and investing in marketing to grow your customer base. There is even the possibility that, as time goes on, you outgrow your original storefront and are ready to open a new location.

Read more with our guide to opening a second location .

Bottom Line

Ongoing management of a retail store is a massive undertaking with tons of ground to cover. It includes everything from daily operations to staffing to product sourcing, and even expansion. Effective management keeps your store marching forward and aligned with business goals. To make your life easier, we recommend using a POS system like Square for Retail to help streamline all your management operations and stay on top of everything you need to manage.

Visit Square for Retail

About the Author

Find Brigitte On LinkedIn

Brigitte Korte

Brigitte is a retail specialist and staff writer with brick-and-mortar management experience. Before joining FSB, she managed a storefront for several years, working in everything from merchandising, to buying, to sales analysis. Brigitte also has a background in writing, research, and publishing, with an undergraduate degree in writing.

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Retail Business Plan Template

Written by Dave Lavinsky

Over the past 20+ years, we have helped over 10,000 entrepreneurs and business owners create business plans to start and grow their retail businesses. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a retail business plan template step-by-step so you can create your plan today.

Download our Ultimate Retail Business Plan Template here >

What Is a Business Plan?

A business plan provides a snapshot of your retail business 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 You Need a Retail Business Plan

Sources of Funding for Retail Businesses

With regards to funding, the main sources of funding for a retail business are bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.

The second most common form of funding for a retail business is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding, or, like a bank, they will give you a loan. 

Venture capitalists will not fund a retail business. They might consider funding a chain, but never an individual location. This is because most venture capitalists are looking for millions of dollars in return when they make an investment, and an individual location could rarely achieve such results.

Finish Your Business Plan Today!

Retail business plan template example.

Your business plan should include 10 sections as follows:

Executive Summary

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of retail store you are operating and the status; for example, are you a startup, do you have a retail business that you would like to grow, or are you operating a chain of retail businesses.

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the retail industry. Discuss the type of retail store you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.

Company Analysis

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

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

• Speciality Store – a store with a tight focus (e.g., hip apparel for women)
• Off-Priced/Used Goods Store – sells massively discounted or used products
• Department Store – often located at a mall and offer tons of products (e.g., Macy’s)
• Supermarket – focuses primarily on food items
• Convenience Store – offers just the most popular items a supermarket offers in a much smaller location
• Drug Store/Pharmacy – primarily offer medicines and medical products
• Discount Store – offer large inventories at low prices (e.g., Walmart)
• Hypermarket – offer many food and non-food items often in large quantities at a discount (e.g., Costco)
• E-commerce – offers products for sale online (e.g., Amazon)

Include answers to question such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include sales goals you’ve reached, new store openings, etc.
• Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the retail business.

While this may seem unnecessary, it serves multiple purposes.

First, researching the retail industry educates you. It helps you understand the market in which you are operating. 

Secondly, market research can improve your strategy particularly if your research identifies market trends. For example, if there was a trend towards local retail businesses with online counterparts, it would be helpful to ensure your plan calls for a significant online presence.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your retail business plan:

• How big is the retail business (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in your local market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential market for your retail business. You can extrapolate such a figure by assessing the size of your niche’s market in the entire country and then applying that figure to your local population.

Customer Analysis

The following are examples of customer segments: college students, sports enthusiasts, soccer moms, techies, teens, baby boomers, etc.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of retail business you operate. Clearly baby boomers would want a different atmosphere, pricing and product options, and would respond to different marketing promotions than teens.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most retail businesses primarily serve customers living in their same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other retail businesses. They are most likely local businesses who sell similar items to you.

Indirect competitors are other options that customers have to purchase from you that aren’t direct competitors. You most likely will have online competitors; companies that sell the same or similar items to you, but which operate online.

• What types of customers do they serve?
• What products do they offer?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. Look at review websites to gain this information.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide superior products or services?
• Will you provide products that your competitors don’t?
• Will you make it easier or faster for customers to acquire your products?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.

Marketing Plan

Product : in the product section you should reiterate the type of retail business that you documented in your Company Analysis. Then, detail the specific products you will be offering.

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the items you offer and their prices.

Place : Place refers to the location of your retail business. Document your location and mention how the location will impact your success. For example, is your retail business located next to a heavily populated office building, or gym, etc. Discuss how your location might provide a steady stream of customers. Also, if you operate or plan to operate kiosks, detail the locations where the kiosks will be placed.

Promotions : the final part of your retail business marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:

• Making your storefront extra appealing to attract passing customers
• Social media marketing
• Search engine optimization
• Advertising in local papers and magazines
• Reaching out to local bloggers and websites 
• Partnerships with local organizations
• Local radio advertising
• Banner ads at local venues

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your retail business such as serving customers, procuring inventory, keeping the store clean, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to serve your 5,000th customer, or when you hope to reach $X in sales. It could also be when you expect to hire your Xth employee or launch a new location.

Management Team

Ideally you and/or your team members have direct experience in the retail business. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in retail businesses and/or successfully running retail and small businesses.

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you serve 100 customers per day or 200? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : 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. For instance, if you spend $100,000 on building out your retail business, that will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100.000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt. For example, you may need to purchase inventories now that you can’t sell (and get paid for) for several months. During those months, you could run out of money.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a retail business:

• Location build-out including design fees, construction, etc.
• Cost of fixtures
• Cost of initial inventory
• Payroll or salaries paid to staff
• Business insurance
• Taxes and permits
• Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your store design blueprint or location lease.

Retail Business Plan Summary

Putting together a business plan for your retail business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert on retail business planning and know everything you need about writing a retail store business plan. You will really understand the retail business, your competition and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful retail store.

Download Our Retail Business Plan PDF

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

Retail Business Plan FAQs

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

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Retail Store Business Plan

Things to Consider Before Writing Your Retail Store Business Plan

Build a brand image.

A brand image goes a long way for any business, especially for a retail store. It is crucial to pay attention to what people think about your store, what emotions they associate your brand with, and how they perceive your products in general. Above all, what qualities make you different from your competitors?

Pick the right location

A retail store’s location can make or break the deal. Hence, it is very important to pick a location that is both convenient and accessible for your customers. As people are always running short of time, they prefer a store that is on the way and takes less time to get to. It can also act as your USP over the bigger retail stores.

Plan a good store design

A good store design that follows the major principles of consumer psychology is essential for a retail store. The strategic placement of products influences a customer’s buying decisions. Hence, you need to pay attention to it and design your store in a way that maximizes your sales.

Build communities that promote your brand

Building communities that stand by and promote the idea of your brand can be extremely beneficial for your retail store. Hence, ensure that you work towards building one. These communities can be driven by anything from a common belief to a certain cause that your brand stands for.

How Business Plan Can Help?

Regardless if you’ve been operating for a long time already, by writing up a business plan for your retail store, you can get an overview of what you want to achieve with your business, and guidelines for how you’ll achieve your goals.

A retail business plan is a solid foundation for the success of your business, whether you seek funding or not. It helps you see clearly what your business looks like and how it’s positioned in your target market.

If you need to get funding, your retail business plan will work as proof that you and your business are good for investment. Studies suggest you can double your chances of securing a loan with a business plan and grow your business.

How to Write a Retail Store Business Plan?

Writing a retail store business plan requires a good amount of research, a thoroughly competitive and customer analysis, and a little bit of extra help.

You can get help for writing your plan either through a premade template on the internet or through an online business plan software which will help you write a customizable plan anywhere and at any time.

Before you start writing your business plan for your new Retail store business, spend as much time as you can reading through some examples of retail & e-commerce-related business plans .

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

Retail Store Business Plan Outline

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

• Company Profile Summary
• Market Research Summary
• Marketing Summary
• Finance Summary
• Business Overview
• Company History
• Legal Structure Vision & Mission
• Industry Profile & Market Size
• Local Market
• Target Market
• Competitor Analysis
• Keys to Success
• Customer Survey Summary
• SWOT Analysis
• Products and Services
• Pricing Strategy
• Marketing Strategy
• Primary Marketing Activities
• Positioning Statement
• The Sales Process
• Strategic Alliances
• Location(s)
• Legal Issues
• Insurance Issues
• Human Resources (Or Team)
• Process/Production
• Risk Assessment
• Startup Funding & Capital
• Start-Up Costs
• Sales Forecast
• Projected Profit & Loss

What to include in a Retail Store Business Plan?

A retail store business plan consists of several different aspects. The major ones are as follows:

1. Executive Summary

The executive summary gives an overview of what your business stands for the reader. It should be written in such a way that even an outsider could get an idea of what your business is all about.

This section mainly comprises your business summary, your vision and mission statement, and your financial summary.

2. Company Profile

The company summary or company profile section of your business plan would consist of everything about your company, ranging from its location to information about your team.

While the executive summary section consists of information about the functional aspects of your business, a company summary consists of information about the structural aspects of your business.

While writing a company summary, it is a good practice to take suggestions from your team, as this section represents you as a team of individuals more than representing you as a brick-and-mortar company.

3. Market Research

Conducting market research helps you understand what you are getting yourself into. It helps you understand your target market, your competitors, and the working of the industry in general.

You can conduct thorough market research by using tools like PESTEL analysis or SWOT analysis . These tools help you conduct research specific to your business and prevent you from wasting your time on vague data.

4. Marketing Plan

As a retail store, it is your primary job to let your customers know about your existence. And to retain them once they start coming to your store.

A good marketing plan would help you do just that.

Based on the information you have gathered about your target audience through market research you can design your marketing campaign and promotional offers that’ll appeal to your customer base.

5. Operations

As a retail store, a proper operations plan can prevent your business from turning into a chaotic mess. An operations plan consists of your business’s logistic and functional information. It helps an outsider see what a typical day at your business looks like.

It also consists of your long-term and short-term goals. As well as the milestones you’ll have to reach for achieving them.

As a retail store business, your operations plan would consist of your supply renewal cycles, your backup distributors, a plan for the working of your store, your daily sales targets, and your long-term expansion goals, etc.

6. Financial Plan

A financial plan ensures that your business sails smoothly through tough times and also generates maximum profits.

It would consist of your funding requirements, cash flow projections, and profit forecasts.

As a retail store, your financial plan would consist of the funding requirements for setting up your store, buying supplies, and hiring people. It would also consist of your projected profits and break-even analysis.

Download a sample retail store business plan

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

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

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

Retail Store Business Plan Summary

In conclusion, a retail store business plan helps you organize and manage your store better. It takes care of everything that goes behind the scenes of running a retail store, so you can greet your customers with a smile.

From angry customers to poorly stocked supplies, a business plan can save you from all of it.

After getting started with Upmetrics , you can copy this retail store business plan template into your business plan and modify the required information and download your retail store business plan pdf or doc file.

It’s the fastest and easiest way to start writing your business plan.

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About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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Home >> #realtalk Blog >> Manage a business >> How to create a reta…

How to create a retail store business plan

By Andrea Nazarian

A successful retail business starts with a well-thought-out retail business plan. While you may think you have your business ideas all figured out in your head, putting them down on paper in the form of a business plan is crucial for several reasons. 

In this post, we’ll explore what a retail business plan is, why it’s different from other business plans, what to include in it, common mistakes to avoid, and how to make your plan stand out.

What Is a Retail store business plan and why do you need one?

A retail store business plan is a comprehensive document that outlines your business model, identifies your target customers, and lays out a roadmap for turning your retail store or online shop into a profitable business. 

It’s a planning and forecasting tool that provides clarity and direction for your business. With a good business plan, you’re more likely to achieve success. 

Here’s why having a retail store business plan is essential:

Planning and forecasting

A retail store business plan helps you plan and set clear goals for your business’s short-term and long-term success.

Planning helps you set goals, allocate resources wisely, and stay on track. It ensures that day-to-day operations run smoothly. Forecasting, on the other hand, helps businesses anticipate future trends and challenges, allowing them to make informed decisions and adapt to changing circumstances. 

Together, planning and forecasting help you avoid costly mistakes, reduce labor costs , seize opportunities, and achieve both short-term and long-term objectives. In essence, they’re like a GPS for your retail business, guiding it towards profitability and sustainability.

Securing investment

A retail store business plan helps secure investment by demonstrating a clear and well-thought-out strategy. It shows potential investors that you’ve done your homework, understand your market, and have a solid plan for success. 

The plan outlines your business goals, target market, competitive analysis, and financial projections, instilling confidence in investors that their money will be used wisely. It also highlights your commitment and professionalism, making you a more attractive investment opportunity. 

Essentially, a strong retail business plan reassures investors that your venture is a sound investment with a higher likelihood of delivering returns on their capital.

Guiding business operations

A retail store business plan serves as a roadmap for guiding business operations. It outlines your business’s goals, strategies, and tactics, providing a clear direction for daily activities. 

It helps you make informed decisions about product offerings, retail staff scheduling , pricing, local business marketing , online marketing and staffing. The plan also includes financial projections and budgeting, ensuring you manage resources effectively. 

Regularly reviewing the plan allows you to track progress, identify areas needing improvement, and adjust strategies accordingly. Overall, it keeps the business focused, organized, and aligned with its objectives, making day-to-day operations more efficient and effective in achieving long-term success.

Get your team in sync with our easy-to-use, all-in-one employee app.

How is a retail business plan different from other business plans?

Retail businesses are unique in many ways, and your business plan should reflect that. Unlike other businesses, retail operations involve factors such as inventory management , supply chains, order fulfillment, deliveries, and customer returns. 

Here’s how a retail store business plan differs:

Inventory management

Unlike other business plans, retail plans must handle challenges like seasonal sales variations and predicting what customers will buy. Inventory management in retail business plans is about keeping the right amount of products in stock to meet customer demand while avoiding excess or shortages. 

They also need to explain how they get products, where they store them, and how they restock when items run low. In contrast, many other businesses don’t deal with these inventory issues.

Retail store business plans focus more on handling and controlling inventory to make sure they always have what customers want and don’t waste money on too much stock.

Marketing strategy

Marketing strategy in retail store business plans, compared to other business plans, often emphasizes attracting customers to physical or online stores, creating appealing displays, and running promotions like sales or loyalty programs. 

Retail plans typically prioritize reaching a broad consumer base and enticing them with visually appealing products. In contrast, other business plans might focus on more specialized marketing, like B2B partnerships or online advertising. 

Retailers also consider factors like store location and layout, which are less significant for many other businesses. So, simply put, retail business plans concentrate on tactics to draw in shoppers and make their shopping experience enjoyable and memorable.

Growth strategy

Growth strategy in retail store business plans, unlike other business plans, often centers on expanding to new locations, introducing new product lines, or attracting more customers. Retailers aim to increase sales by opening additional stores, going online, or diversifying their offerings. 

In contrast, some businesses may focus on improving internal processes or targeting specific niche markets. 

Retailers typically rely on broadening their reach to fuel growth, making strategies like franchising, adding new store branches, or exploring e-commerce crucial components of their plans. So, in simpler terms, retail business plans tend to emphasize expanding the business footprint and customer base as a primary path to success.

What to do before you start writing your retail store business plan

Research your market.

T horough market research is essential. Investors look for evidence of a healthy market and an unmet need that your business can address.

You’ll want to gather data on who your customers are, what they want, and where they’re located. Analyze your competition to see what makes your business unique. This research helps investors see that there’s a demand for your products or services and that your business can thrive in the market. 

It’s about proving that your idea is well-informed and has the potential to succeed. So, in simple terms, thorough market research shows investors that your business plan is based on a strong foundation of knowledge and understanding.

Understand your competitors

 Know your competition inside out. Understanding what sets you apart is crucial.

You need to know who you’re up against and what makes them tick. Research your competitors thoroughly: their strengths, weaknesses, and strategies. Identify what sets your business apart – your unique selling points. 

Investors want to see that you’ve done your homework and can explain how your retail store will outshine the competition. Maybe it’s better prices, superior quality, or outstanding customer service. 

This knowledge not only helps you stand out but also shows investors that you’re ready to face the competition head-on, which can boost their confidence in your business’s potential success.

Have a growth strategy

Define a clear growth strategy to demonstrate how your business will expand once it’s up and running. It shows investors that you’re not just focused on starting your business but also on making it grow in the long run. 

You can outline different growth strategies like market penetration (selling more to existing customers), product development (creating new products for existing customers), market development (selling existing products to new markets), or diversification (introducing new products to new markets). 

This helps investors understand your vision and how you plan to increase your business’s value over time, making your retail venture a more attractive investment opportunity.

What to Include in your retail store business plan

Business overview.

Provide a high-level description of your retail business, including your company’s structure, location, and the products or services you’ll offer.

Business goals

Explain your business goals, whether they’re related to market share, product ranges, or online expansion.

It should give a clear, simple picture of your retail business. Explain whether your business will operate in a physical store, online, or both. 

Mention the legal name of your company, where it’s located, and briefly describe the products or services you plan to sell. Keep it straightforward and easy to understand, so anyone reading your plan can quickly grasp what your retail business is all about. 

This section sets the stage for the rest of your plan, helping readers get a sense of your business from the get-go.

Your industry experience

In the “Your industry experience” section of your retail store business plan, it’s your time to shine. Tell the readers about your background and expertise, especially if you’ve held important positions in recognized retail businesses. 

If you’ve previously led successful growth initiatives or managed to open new stores that flourished, this is the place to mention it. Basically, this section is all about showcasing your qualifications and experience in the retail world.

It helps build trust and confidence that you’re the right person to turn your retail business idea into a thriving reality. Keep it concise but impressive.

The “ Marketing strategy ” section of your retail store business plan is where you paint a picture of how you’ll present your store to the world. Explain your store’s image, the strategy for your brand, and how you plan to market your products or services. 

Don’t forget to dive into the 4Ps of retail marketing:

• Product : Describe what you’re selling and what makes it special.
• Pricing : Explain how you’ll price your products and why.
• Place : Tell where you’ll sell your products, be it online, in-store, or both.
• Promotion : Detail your strategies for promoting your store and products.

This section gives a clear roadmap for how you’ll attract customers and make your business a success. Keep it straightforward and compelling.

Financial strategy and forecast

The “Financial strategy and forecast” section of your retail store business plan is where you show the money side of your business. Investors want to see the numbers, so include things like:

• Estimated capital requirements : How much money do you need to get started and keep going?
• Profit and revenue models : Explain how you plan to make money and what your sales goals are.
• Sales volume projections : Predict how many products you expect to sell.
• Financial statements : Include balance sheets, cash flow projections, and any other financial documents.

These details help investors understand your business’s financial health and potential. Make sure your numbers are realistic and based on careful research and planning.

Management structure

In the “Management structure” section of your retail store business plan, you’ll provide details on how you intend to organize your team and manage your business effectively. This section involves explaining several key aspects:

Firstly, you’ll specify the number of team members you plan to hire. This is essential to understand the size and scope of your workforce.

Secondly, you’ll describe the roles and responsibilities of each team member. This clarification ensures that everyone knows their specific duties and contributes to the smooth operation of the business.

Lastly, you’ll illustrate how each team member fits into your overall business plan. This section helps investors and stakeholders comprehend how your team will collaborate and work together to achieve the business’s goals and objectives. 

A well-defined retail management structure assures potential investors that you have a competent team ready to execute your business plan effectively.

Homebase offers user-friendly employee management tools to streamline team communication , time tracking, and scheduling , helping you refine your management structure. 

Common mistakes to avoid when making your retail store business plan 

A successful business plan is as much about what you leave out as what you put in. Here are some common mistakes to avoid:

Too much detail

Avoid long, rambling text. Use visuals and graphics when possible and attach heavy content as appendices.

Poor financial planning

Account for growing expenses, taxes, and market influences in your financial projections.

Poor spelling and grammar

Basic errors can undermine how partners and investors view your plan.

Strengthening your business plan

To strengthen your business plan, consider your audience, which may include potential investors, business partners, and financial institutions. Be transparent, avoid exaggerations, and demonstrate the value of your idea.

Conclusion: Finishing your retail store business plan

A well-crafted retail store business plan is more than just a guide; it’s a tool to attract investors, secure funding, and set the foundation for a successful retail business. Leveraging tools like Homebase can help you stay competitive and efficient in the retail industry.

Don’t delay writing your plan—it could be the first step towards realizing your retail business dreams.

FAQs about writing a retail store business plan

What is a retail store business plan, and why is it important.

A retail store business plan is a comprehensive document outlining your retail store business’s model, goals, and strategies. It’s crucial as it provides clarity, attracts investors, and guides daily operations for success.

How does a retail store business plan differ from other business plans?

Retail store business plans are unique due to their focus on inventory management, marketing tactics to attract shoppers, and growth strategies centered on expanding customer reach.

What should I include in my retail store business plan’s business overview section?

In the business overview, provide a concise description of your retail business, including its structure, location, and the products or services you intend to offer.

How can a retail store business plan help secure investment?

A retail store business plan demonstrates a well-thought-out strategy, outlining business goals, target market, competitive analysis, and financial projections. It reassures investors, making your venture a more appealing investment opportunity.

What common mistakes should I avoid when creating a retail store  business plan?

Common mistakes include excessive detail, poor financial planning, and grammar/spelling errors. To avoid these, focus on clarity, accurate financial projections, and proofreading.

Remember:  This is not legal advice. If you have questions about your particular situation, please consult a lawyer, CPA, or other appropriate professional advisor or agency.

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Business Plan Template for Store Managers

• Great for beginners
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Running a successful store requires careful planning and strategic thinking. As a store manager, you need a business plan that encompasses everything from financial projections to marketing strategies. That's where ClickUp's Business Plan Template for Store Managers comes in.

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Business Plan Template for Store Managers Benefits

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• Financial planning: Develop a comprehensive financial plan that covers budgeting, revenue projections, and expense management.
• Marketing strategies: Create targeted marketing strategies to attract and retain customers, boosting sales and brand awareness.
• Operational efficiency: Streamline operations by defining processes, roles, and responsibilities, leading to enhanced productivity.
• Effective decision-making: Make informed decisions based on data, market analysis, and industry trends.
• Resource allocation: Allocate resources effectively by identifying key areas of investment and cost optimization.
• Business success: Increase the likelihood of achieving business goals and driving overall store success.

Main Elements of Store Managers Business Plan Template

ClickUp’s Business Plan Template for Store Managers provides the essential elements to help store managers create a comprehensive and strategic business plan:

• Custom Statuses: Track the progress of different sections of your business plan with statuses like Complete, In Progress, Needs Revision, and To Do, ensuring each aspect is properly addressed and completed.
• Custom Fields: Utilize custom fields such as Reference, Approved, and Section to add specific details and attributes to your business plan, making it tailored to your store's unique needs.
• Custom Views: Access different views like Topics, Status, Timeline, Business Plan, and Getting Started Guide to organize and visualize your business plan from various angles, ensuring clarity and easy navigation.
• Collaboration: Collaborate with team members, assign tasks, set due dates, and discuss ideas directly within the template, fostering teamwork and efficient plan execution.
• Goal Tracking: Set goals and milestones in the Goals feature, track progress, and align your business plan with your long-term objectives.

With ClickUp's Business Plan Template for Store Managers, you can streamline your planning process, improve decision-making, and drive the success of your store.

How To Use Business Plan Template for Store Managers

Running a successful retail store requires careful planning and strategy. By using the Business Plan Template for Store Managers in ClickUp and following the steps outlined below, you can create a solid plan to drive your store's growth and success.

1. Define your objectives

Start by clearly defining your goals and objectives for your store. Are you looking to increase sales, improve customer satisfaction, or expand into new markets? Identifying your objectives will help guide your decision-making and ensure that your business plan aligns with your overall vision.

Use the Goals feature in ClickUp to set specific and measurable objectives for your store.

2. Analyze the market

Conduct a thorough analysis of your target market to gain insights into customer preferences, demographics, and trends. This will help you identify opportunities and challenges that may impact your store's success.

Use the Table view in ClickUp to organize and analyze market research data, such as customer surveys, competitor analysis, and industry reports.

3. Develop a marketing strategy

Create a comprehensive marketing strategy to attract and retain customers. This should include a mix of online and offline marketing tactics, such as social media campaigns, email marketing, in-store promotions, and partnerships with other local businesses.

Utilize the Calendar view in ClickUp to plan and schedule your marketing activities, ensuring that you have a consistent and targeted approach.

4. Monitor and adjust

Regularly monitor your store's performance against your business plan and make adjustments as needed. Track key metrics such as sales revenue, customer satisfaction, and inventory turnover to identify areas where you can improve.

Use the Dashboards feature in ClickUp to create visual reports and track your store's performance in real-time.

With the Business Plan Template for Store Managers in ClickUp, you can easily create a comprehensive plan to guide your store's growth and success. By following these steps and regularly reviewing and adjusting your plan, you'll be well-positioned to achieve your objectives and drive your store forward.

Get Started with ClickUp’s Business Plan Template for Store Managers

Store managers can use the ClickUp Business Plan Template to streamline their planning process and ensure that all aspects of their store's operations are well-documented and organized.

First, hit "Add Template" to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you'd like this template applied.

Next, invite relevant members or guests to your Workspace to start collaborating.

Now you can take advantage of the full potential of this template to create a comprehensive business plan:

• Use the Topics View to organize your plan into different sections such as goals, marketing, operations, and finances.
• The Status View will help you track the progress of each section, with statuses like Complete, In Progress, Needs Revision, and To Do.
• Utilize the Timeline View to set deadlines and visualize the timeline of your plan.
• The Business Plan View provides a holistic overview of your entire plan, allowing you to see the big picture.
• Create a Getting Started Guide View to outline the steps needed to implement your plan effectively.

Additionally, customize your business plan template by adding these custom fields:

• Use the Reference field to link relevant documents or resources to each section of your plan.
• The Approved field can be used to track the approval status of each section.
• The Section field allows you to categorize each section based on its importance or priority.

By following these steps and utilizing the different views and custom fields, store managers can create a comprehensive and well-structured business plan to drive the success of their store.

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Home » Sample Business Plans » Wholesale & Retail

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

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

Why Start a Retail Store?

There are times when one might not be disposed to buy stuff in bulk. This might be due to financial constraint or other contingencies. This is one of the reasons why retail outlets are scattered all over the world. They know the importance of reaching all and sundry, and that is why they want to provide services that can reach all classes of people.

Those who are already in the trade know the huge profit levels which they attain always. If you have decided to start a retail business, then good news is that you are in a profitable trade, as nearly all the type of goods that are being dealt in is such that is important to all

A Sample Retail Store Business Plan Template

1. industry overview.

When we talk about retailing, we talk about a business that deals in loads of consumer goods; which can be categorized into three major areas. These categories are: general merchandise, apparel, and furniture. In other words, retailers are engaged in the selling of finished goods; they get the goods from the manufacturers and they sell to the end users (consumers).

Retail goods can also be categorized into durable goods and non – durable goods. Durable goods are goods such electronics, computers and accessories, furniture, and other large appliances et al and non – durable goods are good such as food, toiletries, drinks, beauty products, jewelry, clothing and shoes et al.

The retail industry is a major sector of the economy of the united states which generates a whooping sum of well over trillion annually from more than a million retail outlets scattered all around the United States of America.

The industry is responsible for the employment of well over 15 million people which is about 12% of the workforce of the U.S. eMarketer.com published that in 2014 alone, the retailing industry on a global scale generated a revenue of well over $22 trillion; it goes to show that the industry is indeed a very large industry.

It is a fact that an estimated two-thirds of the United States’ gross domestic product (GDP) comes from retail consumption. This is why the United States of America’s economy is measured with the yardstick of how well the retailing business is fairing in the U.S. In essence, when there is an unstable economy, purchasing power drops and it impacts the retailing industry negatively which may result in the closure of some retail stores.

In recent time, the retail landscape has seen tremendous changes in the last 20 years; it has grown from the usual mom and pop outlets to a more organized and far reaching venture. The introduction of franchise and online store makes it easier for a retailer to reach out to a larger market far beyond the areas where his physical store is located.

It is interesting to note that more retail shops; especially lager retail outlets have started to include self-serve checkout lanes in their stores. It creates shorter lines that appeal to consumers; the average customer would not want to stay longer on queue.

Over and above, the retail industry is a profitable industry and it is open to 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 in key cities.

2. Executive Summary

People’s Choice Retail Shop is a retail shop that will be located in one of the busiest streets in Columbus, Ohio. We have been able to lease a facility that is big enough to fit into the design of the retail shop that we intend launching and the facility is located in a corner piece directly opposite the largest residential estate in Columbus, Ohio.

Our retail shop will retail a wide range of durable goods and non – durable goods at affordable prices from different brands. We retail goods such as groceries, clothes, sports equipment, beauty products, jewelry, baby stuffs, children’s toys, home furnishings and home appliances et al.

We are aware that there are several large and small retail outlets all around Columbus, which is why we spent time and resources to conduct our feasibility studies and market survey, so as to offer much more than our competitors will be offering. We have sell service options for our customers, and our outlet is well secured with the various payment options.

Much more than selling the goods and products of top brands in the manufacturing industry, our customer care is second to none in the whole of Columbus, Ohio. We know that our customers are the reason why we are in business, and that is why we will go the extra mile to get them satisfied when they visit our retail shop and also to become our loyal customers and ambassadors.

People’s Choice Retail Shop will ensure that all our customers are given first class treatment whenever they visit our shop. We have a CRM software that will enable us manage a one on one relationship with our customers, no matter how large the numbers of our customers base. We will ensure that we get our customers involved in the selection of brands that will be on our racks and also when make some business decisions.

We are aware of the trend in the retail industry and we are not only going to operate a system where our customers would have to come to our shop to make purchase or whatever they want but we will also operate an online store and our customers can order goods online and they will get it delivered to their houses or any location they want us to deliver the goods to within Ohio.

People’s Choice Retail Shop is a family business that is owned by Bob Wesley and Family. Although the business is launching out with just one outlet in Columbus, Ohio, but there is a plan to open other outlets all around Ohio.

3. Our Products and Services

People’s Choice Retail Shop is in the retailing industry and we will ensure we go all the way to make available a wide range of goods and products from top manufacturing brands in the United States and other countries of the world.

We will have available in our store a wide range of durable goods and non – durable goods at affordable prices. We retail goods such as groceries, clothes, sports equipment, beauty products, jewelry, children’s toys, baby stuffs, home furnishings and home appliances et al.

4. Our Mission and Vision Statement

• Our vision is to establish a one stop retail shop in Columbus, Ohio and in other cities in Ohio.
• Our mission is to establish a retail business that will make available a wide range of goods and products from top manufacturing brands at affordable prices to the residence of Columbus, Ohio and other cities in Ohio.

Our Business Structure

People’s Choice Retail Shop do not intend to start a retail business like the usual mom and pop business around the street corner; our intention of starting a retail business is to build a standard retail outlet in Columbus, Ohio. Although our retail business might not be as big as Wal-Mart or Marcy, but 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 hire people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers).

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. In view of that, we have decided to hire qualified and competent hands to occupy the following positions;

• Chief Executive Officer (Owner)
• Store Manager

Merchandize Manager

Sales and Marketing Manager

Information Technologist

• Accountants / Cashiers

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

• 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 fixing prices and signing business deals
• Responsible for recruitment
• Responsible for payment of salaries
• 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 restaurant
• Ensures that the store facility is in tip top shape and conducive enough to welcome customers
• Interfaces with third – party providers (vendors)
• Controls 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
• Manages vendor relations, market visits, and the ongoing education and development of the organizations’ buying teams
• Helps to ensure consistent quality of goods and products on our rack
• Responsible for the purchase of goods and products 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.
• Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
• Models demographic information and analyze the volumes of transactional data generated by customer purchases
• Manages 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:

• Receives payments on behalf of the organization
• Issues receipt to customers
• Prepares financial report at the end of every working week
• Handles all financial transaction on behalf of the company
• Interfaces with our bankers
• Responsible for payment of tax, levies and utility bills
• Any other duty as assigned by the CEO / store manager
• Responsible for cleaning the store facility at all times
• Ensures that toiletries and supplies don’t run out of stock
• Cleans both the interior and exterior of the store facility
• Any other duty as assigned by the restaurant manager,

6. SWOT Analysis

Our intention of starting just one outlet of our retail store in Columbus, Ohio is to test run the business for a period of 2 to 5 years to know if we will invest more money, expand the business and then open other outlets all over Ohio. We are quite aware that there are several retail stores all over Columbus 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.

People’s Choice Retail 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 People’s Choice Retail Store;

Our location, the business model we will be operating on (physical store and online store), varieties of payment options, wide range of products and our excellent customer service culture will definitely count as a strong strength for People’s Choice Retail Store.

A major weakness that may count against us is the fact that we are a new retail outlet and we don’t have the financial capacity to compete with multi – billion dollars retail outlets like Wal-Mart and co when it comes to retailing at a rock bottom prices for all their goods.

• Opportunities:

The fact that we are going to be operating our retail store in one of the busiest streets in Columbus, Ohio, provides us with unlimited opportunities to sell our goods to a large number of people. We have been able to conduct thorough feasibility studies and market survey and we know what our potential clients will be looking for when they visit our retail outlets; we are well positioned to take on the opportunities that will come our way.

Just like any other business, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing power. Another threat that may likely confront us is the arrival of a new retail outlet in same location where ours is located.

7. MARKET ANALYSIS

• Market Trends

Retailing business has been in existence for as long as humans started trading goods, but one thing is certain, the retailing industry is still evolving. The introduction of technology and subsequently online retail store has indeed helped in reshaping the industry.

It is now a common phenomenon for retail outlets to leverage on technology to effectively predict consumer demand patterns and to strategically position their shop 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 shops serve them better.

Another common trend in the retailing industry is the pricing system. Aside from having varieties of products in a store, one of the easiest ways for retail stores to sell the goods on their racks as fast as they can and keep re – stocking is to ensure that the prices of their goods are a bit lower than what is obtainable elsewhere. For example; it is common to see items with prices in this format; $3.99, $99 and $199 et al as against $4, $100 and $200.

Retailers also engage in massive clearance sales and discount sales to attract customers. It is a strategy that helps them welcome new customers and also reinforce the loyalty of old customers.

8. Our Target Market

Perhaps the retailing industry has the widest range of customers; everybody on planet earth has one or more things that they would need in a retail shop. It is difficult to find people around who don’t patronize retail shops.

In view of that, we have positioned our retail store to service the residence of Columbus, Ohio and every other location our retail stores will be located all over Ohio. 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 retail a wide range of products to the following groups of people;

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

Our Competitive Advantage

People’s Choice Retail Store is launching a standard retail shop that will indeed become the preferred choice of residence of Columbus, Ohio. Our retail store is located in a corner piece property on a busy road directly opposite one of the largest residential estates in Columbus, Ohio. We have enough parking space that can accommodate well over 100 cars per time.

One thing is certain; we will ensure that we have a wide range of products available in our store at all times. It will be difficult for customers to visit our store and not see the product that they are looking for. One of our business goal is to make People’s Choice Retail Store a one stop shop. Our excellent customer service culture, online store, various payment options and highly secured facility will serve as a competitive advantage for us.

9. SALES AND MARKETING STRATEGY

• Sources of Income

People’s Choice Retail Shop is in business to retail a wide range of products to the residence of Columbus, Ohio. In essence, our source of income will be the retailing of a wide range of durable goods and non – durable goods at affordable prices. We will retail goods such as groceries, clothes, sports equipment, beauty products, jewelry, children’s toys, baby stuff, home furnishings and home appliances et al.

10. Sales Forecast

It is important to state that our sales forecast is based on the data gathered during our feasibility studies, market survey and also some of the assumptions readily available on the field. One thing is common with retailing business, the larger a retail store the larger the numbers of customers that will patronize them.

Although we may not be as large as Wal-Mart, but we will ensure that within our capacity we make available a wide range of goods from different manufacturing brands in our retail outlet. Below are the sales projections that we were able to come up with for the first three years of operations;

• First Year-: $200,000
• Second Year-: $450,000
• 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 natural disasters 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 People’s Choice Retail Store, we conducted 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 Columbus, Ohio. We have a 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 retail 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 Columbus, Ohio. In order 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, People’s Choice Retail Store will adopt the following sales and marketing approach to win customers over;

• Introduce our business by sending introductory letters to residence, business owners and organizations
• Promptness in bidding for contracts
• Advertise our business in community based newspapers, local TV and radio stations
• List our business on yellow pages ads
• Leverage on the internet to promote our business
• Direct marketing
• Word of mouth marketing (referrals)

11. Publicity and Advertising Strategy

Despite the fact that our retail 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 retail store. People’s Choice Retail Store has a long term plan of opening outlets in various locations all around Ohio which is why we will deliberately build our brand to be well accepted in Columbus before venturing out.

As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand. Here are the platforms we intend leveraging on to promote and advertise People’s Choice Retail 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 Columbus, Ohio
• Engage in road show from time to time
• Distribute our fliers and handbills in target areas
• Position our Flexi Banners at strategic positions in the location where our retail store is located.

12. Our Pricing Strategy

Pricing is one of the key factors that give leverage to retail stores, it is normal for consumers to go to places (retail outlets) where they can goods at cheaper price which is why big player in the retail industry like Wal-Mart will attract loads of consumers. Products in their store are tagged with the cheapest price you can get anywhere in the United States.

We know we don’t have the capacity to compete with Wal-Mart or any other big retail store, but we will ensure that the prices of all the products that are available in our store are competitive with what is obtainable amongst retail stores within our level.

• Payment Options

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.

13. Startup Expenditure (Budget)

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

• The Total Fee for Registering the Business in Ohio – $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 People’s Choice Retail 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 products) – $100,000
• Storage hardware (bins, rack, shelves, food case) – $3,720
• Cost for serving area equipment (plates, glasses, flatware) – $3,000
• Cost for store equipment (cash register, security, ventilation, signage) – $13,750
• Cost of purchase and installation of CCTVs: $10,000
• 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 $500,000 to successfully set up our retail store in Columbus, Ohio. Please note that this amount includes the salaries of all the staff for the first month of operation.

Generating Funding / Startup Capital for People’s Choice Retail Store

People’s Choice Retail Store is a private business that is solely owned and financed by Bob Wesley 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 $200,000 ( Personal savings $150,000 and soft loan from family members $50,000 ) and we are at the final stages of obtaining a loan facility of $300,000 from our bank. All the papers and document have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

14. Sustainability and Expansion Strategy

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

People’s Choice Retail 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.

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 store: Completed
• Establishing business relationship with vendors – suppliers of all our needed raw materials: In Progress

More on Wholesale & Retail

How to write a business plan for a department store?

Writing a business plan for a department 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 department 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 department store?

• What information is needed to create a business plan for a department store?
• What goes in the financial forecast for a department store?
• What goes in the written part of a department store business plan?
• What tool can I use to write my department store business plan?

Having a clear understanding of why you want to write a business plan for your department store will make it simpler for you to grasp the rationale behind its structure and content. So before delving into the plan's actual details, let's take a moment to remind ourselves of the primary reasons why you'd want to create a department store business plan.

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 department 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 department store to be in the next three to five years.

Once you have a clear destination for your department 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 maintain visibility on future cash flows

Businesses can go for years without making a profit, but they go bust as soon as they run out of cash. That's why "cash is king", and maintaining visibility on your department store's future cash flows is critical.

How do I do that? That's simple: you need an up-to-date financial forecast.

The good news is that your department store business plan already contains a financial forecast (more on that later in this guide), so all you have to do is to keep it up-to-date.

To do this, you need to regularly compare the actual financial performance of your business to what was planned in your financial forecast, and adjust the forecast based on the current trajectory of your business.

Monitoring your department store's financial health will enable you to identify potential financial problems (such as an unexpected cash shortfall) early and to put in place corrective measures. It will also allow you to detect and capitalize on potential growth opportunities (higher demand from a given segment of customers for example).

To secure financing

Crafting a comprehensive business plan for your department store, whether you're starting up or already established, is paramount when you're seeking financing from banks or investors.

Given how fragile small businesses are, financiers will want to ensure that you have a clear roadmap in place as well as command and control of your future cash flows before entertaining the idea of funding you.

For banks, the information in your business plan will be used to assess your borrowing capacity - which is defined as the maximum amount of debt your business can afford alongside your ability to repay the loan. This evaluation helps them decide whether to extend credit to your business and under what terms (interest rate, duration, repayment options, collateral, etc.).

Similarly, investors will thoroughly review your plan to determine if their investment can yield an attractive return. They'll be looking for evidence that your department store has the potential for healthy growth, profitability, and consistent cash flow generation over time.

Now that you understand the importance of creating a business plan for your department store, let's delve into the necessary information needed to craft an effective plan.

Information needed to create a business plan for a department store

Drafting a department store business plan requires research so that you can project sales, investments and cost accurately in your financial forecast, and convince the reader that there is a viable commercial opportunity to be seized.

Below, we'll focus on three critical pieces of information you should gather before starting to write your plan.

Carrying out market research for a department store

As you consider writing your business plan for a department store, conducting market research becomes a vital step to ensure accurate and realistic financial projections.

Market research provides valuable insights into your target customer base, competitors, pricing strategies, and other key factors that can significantly impact the commercial success of your business.

Through this research, you may uncover trends that could influence your department store.

You may discover that people are increasingly looking for organic or sustainable products when they shop at your department store. Additionally, market research might reveal that customers could be searching for convenience and that they might be more likely to shop online than in-store.

Such market trends play a significant role in forecasting revenue, as they offer valuable data about potential customers' spending habits and preferences.

By incorporating these findings into your financial projections, you can present investors with more accurate information, helping them make informed decisions about investing in your department store.

Developing the sales and marketing plan for a department store

As you embark on creating your department store business plan, it is crucial to budget sales and marketing expenses beforehand.

A well-defined sales and marketing plan should include precise projections of the actions required to acquire and retain customers. It will also outline the necessary workforce to execute these initiatives and the budget required for promotions, advertising, and other marketing efforts.

This approach ensures that the appropriate amount of resources is allocated to these activities, aligning with the sales and growth objectives outlined in your business plan.

The staffing and capital expenditure requirements of a department store

Whether you are starting or expanding a department store, it is important to have a clear plan for recruitment and capital expenditures (investment in equipment and real estate) in order to ensure the success of the business.

Both the recruitment and investment plans need to be coherent with the timing and level of growth planned in your forecast, and require appropriate funding.

A department store might incur staffing costs such as salaries for employees, benefits, and payroll taxes. They might also incur equipment costs such as computers for the cash register, security systems, and other technology. Additionally, they may need to rent or purchase display fixtures, signage, and other furniture for the store.

In order to create a realistic financial forecast, you will also need to consider the other operating expenses associated with running the business on a day-to-day basis (insurance, bookkeeping, etc.). 

Once you have all the necessary information to create a business plan for your department store, it is time to start creating your financial forecast.

What goes into your department store's financial forecast?

The objective of the financial forecast of your department store's business plan is to show the growth, profitability, funding requirements, and cash generation potential of your business over the next 3 to 5 years.

The four key outputs of a financial forecast for a department 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

The projected P&L statement for a department store shows how much revenue and profit your business is expected to make in the future.

A healthy department store's P&L statement should show:

• Sales growing at (minimum) or above (better) inflation
• Stable (minimum) or expanding (better) profit margins
• A healthy level of net profitability

This will of course depend on the stage of your business: numbers for a startup will look different than for an established department store.

The forecasted balance sheet of your department store

The projected balance sheet of your department 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.

Analysing your department store projected balance sheet provides an understanding of your department 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 department 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 projected cash flow statement

A cash flow forecast for a department store shows how much cash the business is projected to generate or consume.

The cash flow statement is divided into 3 main areas:

• The operating cash flow shows how much cash is generated or consumed by the operations (running the business)
• The investing cash flow shows how much cash is being invested in capital expenditure (equipment, real estate, etc.)
• The financing cash flow shows how much cash is raised or distributed to investors and lenders

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

It is also a best practice to include a monthly cash flow statement in the appendices of your department store business plan 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 department store.

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

This table helps size the investment required to set up the department 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 department store business plan, let's have a look at the written part of the plan.

The written part of a department store business plan

The written part of a department store business plan plays a key role: it lays out the plan of action you intend to execute to seize the commercial opportunity you've identified on the market and provides the context needed for the reader to decide if they believe your plan to be achievable and your financial forecast to be realistic.

The written part of a department 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 first section of your department store's business plan is the executive summary which provides, as its name suggests, an enticing summary of your plan which should hook the reader and make them want to know more about your business.

When writing the executive summary, it is important to provide an overview of the business, the market, the key financials, and what you are asking from the reader.

Start with a brief introduction of the business, its name, concept, location, how long it has been in operation, and what makes it unique. Mention any services or products you plan to offer and who you sell to.

Then you should follow with an overview of the addressable market for your department store, current trends, and potential growth opportunities.

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

Finally, you should detail any funding requirements in the ask section.

2. The presentation of the company

As you build your department store business plan, the second section deserves attention as it delves into the structure and ownership, location, and management team of your company.

In the structure and ownership part, you'll provide valuable insights into the legal structure of the business, the identities of the owners, and their respective investments and ownership stakes. This level of transparency is vital, particularly if you're seeking financing, as it clarifies which legal entity will receive the funds and who holds the reins of the business.

Moving to the location part, you'll offer a comprehensive view of the company's premises and articulate why this specific location is strategic for the business, emphasizing factors like catchment area, accessibility, and nearby amenities.

When describing the location of your department store, you could emphasize its potential to reach customers from a wide area. It may be located near a major highway or other travel route, making it easy for customers to access. It might also be in a densely populated area that could be expected to bring in large numbers of shoppers. Additionally, you could point out its proximity to other attractions, such as malls, restaurants, and entertainment venues. These elements could make the location an ideal choice for a department store, and a favorable investment for a third party financier.

Lastly, you should introduce your esteemed management team. Provide a thorough explanation of each member's role, background, and extensive experience.

It's equally important to highlight any past successes the management team has achieved and underscore the duration they've been working together. This information will instil trust in potential lenders or investors, showcasing the strength and expertise of your leadership team and their ability to deliver the business plan.

3. The products and services section

The products and services section of your business plan should include a detailed description of what your company offers, who are the target customers, and what distribution channels are part of your go-to-market. 

For example, your department store might offer customers a wide range of apparel, home goods, and beauty products. Apparel might include a variety of clothing options for men, women, and children, as well as shoes, accessories, and jewelry. Home goods might include furniture, kitchen accessories, linens, and decor. Beauty products could include makeup, skincare, bath and body products, and fragrances. These products and services offer customers a one-stop-shop for all their needs, and provide convenience and selection.

4. The market analysis

When outlining your market analysis in the department store business plan, it's essential to include comprehensive details about customers' demographics and segmentation, target market, competition, barriers to entry, and relevant regulations.

The primary aim of this section is to give the reader an understanding of the market size and appeal while demonstrating your expertise in the industry.

To begin, delve into the demographics and segmentation subsection, providing an overview of the addressable market for your department store, key marketplace trends, and introducing various customer segments and their preferences in terms of purchasing habits and budgets.

Next, shift your focus to the target market subsection, where you can zoom in on the specific customer segments your department store targets. Explain how your products and services are tailored to meet the unique needs of these customers.

For example, your target market might include busy professionals who live and work in urban areas. This group likely has a higher disposable income and would benefit from convenient access to a wide range of products. They would also appreciate a good selection of designer brands and the latest fashion trends.

In the competition subsection, introduce your main competitors and explain what sets your department store apart from them.

Finally, round off your market analysis by providing an overview of the main regulations that apply to your department store.

5. The strategy section

When writing the strategy section of a business plan for your department store, it is essential to include information about your competitive edge, pricing strategy, sales & marketing plan, milestones, and risks and mitigants.

The competitive edge subsection should explain what sets your company apart from its competitors. This part is especially key if you are writing the business plan of a startup, as you have to make a name for yourself in the marketplace against established players.

The pricing strategy subsection should demonstrate how you intend to remain profitable while still offering competitive prices to your customers.

The sales & marketing plan should outline how you intend to reach out and acquire new customers, as well as retain existing ones with loyalty programs or special offers. 

The milestones subsection should outline what your company has achieved to date, and its main objectives for the years to come - along with dates so that everyone involved has clear expectations of when progress can be expected.

The risks and mitigants subsection should list the main risks that jeopardize the execution of your plan and explain what measures you have taken to minimize these. This is essential in order for investors or lenders to feel secure in investing in your venture.

Your department store could face risks related to cyber security. Cyber criminals may try to access customer information, steal money from accounts, or otherwise compromise the security of the store. Your department store might also face risks related to employee safety. Employees could become victims of theft, violence, or other criminal activities while on the job.

6. The operations section

In your business plan, it's also essential to provide a detailed overview of the operations of your department store.

Start by covering your team, highlighting key roles and your recruitment plan to support the expected growth. Outline the qualifications and experience required for each role and your intended recruitment methods, whether through job boards, referrals, or headhunters.

Next, clearly state your department store's operating hours, allowing the reader to assess staffing levels adequately. Additionally, mention any plans for varying opening times during peak seasons and how you'll handle customer queries outside normal operating hours.

Then, shift your focus to the key assets and intellectual property (IP) necessary for your business. If you rely on licenses, trademarks, physical structures like equipment or property, or lease agreements, make sure to include them in this section.

You could have key assets like the physical store property and the brand name. The store may also have Intellectual Property in the form of trade secrets, such as customer lists, proprietary processes, and marketing strategies. Additionally, the store might have digital assets, like its website and any other digital marketing materials.

Lastly, include a list of suppliers you plan to work with, detailing their services and main commercial terms, such as price, payment terms, and contract duration. Investors are interested in understanding why you've chosen specific suppliers, which may be due to higher-quality products or established relationships from previous ventures.

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 department 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 department store's business plan?

In this section, we will be reviewing the two main solutions for creating a department 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 department store's business plan

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

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

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

Business plan writers are experienced in writing business plans and adept at creating financial forecasts without errors. Furthermore, hiring a consultant can save you time and allow you to focus on the day-to-day operations of your business.

However, hiring business plan writers is expensive as you are paying for the software used by the consultant, plus their time, and their profit margin of course.

From experience, you need to budget at least £1.5k ($2.0k) excluding tax for a complete business plan, more if you need to make changes after the initial version (which happens frequently after the initial meetings with lenders or investors).

You also need to be careful when seeking investment. Investors want their money to be used to grow the business, not spent on consulting fees. Therefore, the amount you spend on business plan writing services (and other consulting services such as legal services) needs to be negligible relative to the amount raised.

The other drawback is that you usually don't own the business plan itself: you just get the output, while the actual document is saved in the consultant's business plan software - which makes it difficult to maintain the document up to date without hiring the consultant on a retainer.

For these reasons, outsourcing the department store business plan to a business plan writer should be considered carefully, weighing both the advantages and disadvantages of hiring outside help.

Ultimately, it may be the right decision for some businesses, while others may find it beneficial to write their business plan using online software.

Why not create your department 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 department 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 department 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.

• Having an up-to-date business plan is key to maintaining visibility on your future cash flows.
• A business plan has 2 parts: a financial forecast highlighting the expected growth, profitability and cash generation of the business; and a written part which provides the context needed to interpret and assess the quality of the forecast.
• Using business plan software is the modern way of writing and maintaining business plans.

We hope that this guide helped you to better understand how to write the business plan for a department store. If you still have questions, do not hesitate to contact us.

Also on The Business Plan Shop

• How to write a 5 years business plan
• Business plan myths

Know someone who owns or wants to start a department store? Share this article with them!

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.

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• Success Stories

Here is the first retail business plan example. Fuel & Fire is a typical convenience store and gas station business.

Introduction

In today’s fast-paced world, the convenience store and gas station industry plays a pivotal role for daily commuters, weekend travelers, and community residents. “Fuel & Flee” is poised to redefine this sector by delivering top-notch vehicle fuels and a diverse array of essential items for on-the-go consumers. By harnessing Solink’s potent tools, we anticipate an enhanced security atmosphere and precise, actionable business insights.

• Name and nature: “Fuel & Flee” is designed to be a dual-function entity, melding a state-of-the-art gas station with a fully-stocked convenience store.
• Prime location: The business will reside at the intersection of Main Street and Highway 101, capturing both the local and highway traffic.
• Vision statement: Our aim is to emerge as the number one pit-stop choice for every traveler and local resident within a 10-mile radius.
• Holistic offerings: Apart from standard fuel services, a variety of convenience products such as fresh food, beverages, and daily essentials will be available.
• Legal backbone: Registered as a Limited Liability Company (LLC), ensuring protection and flexibility.
• Location details: A spacious location with 4 fuel pumps, 12 parking spots, and a 2,500 sqft store, all primed for quick and easy access.
• Industry insight: A 5% annual growth has been noted in the convenience store and gas station sector, especially in highway-adjacent areas.
• Target audience: Segment 1: Daily commuters (40%); Segment 2: Long-distance travelers (35%); Segment 3: Local families (25%).
• Competition analysis: Within a 15-mile radius, there are three major competitors—two national chains and one local establishment.
• Fuel varieties: Regular, mid-grade, premium, and diesel options for diverse vehicle needs.
• Store inventory: Over 1,000 unique items including snacks, drinks, automotive products, and a dedicated section for organic and local produce.
• Added amenities: A 24-hour ATM, a self-service air pump, and a mini cafe offering fresh coffee and pastries.
• Technological boost: The Solink system will provide unparalleled management insights, monitoring transaction data to understand optimal restocking times.
• Visual branding: Vibrant signboards and in-store displays to attract and retain customer attention.
• Promotional moves: Monthly deals such as “Fill & Feast” offering discounts on combined fuel and store purchases, aiming to increase average ticket size by 15%.
• Financial forecast: Anticipated revenue growth of 20% in the first year, scaling to 30% by the third year due to strategic promotions and customer loyalty initiatives.
• Supplier ties: Established contracts with top-tier fuel suppliers and local product distributors, ensuring consistent quality and timely deliveries.
• Inventory tactics: Bi-weekly stock checks and data-driven restocking decisions supported by Solink’s analytical prowess.
• Safety and surveillance: Continuous monitoring with Solink’s cloud-based video surveillance , ensuring a secure shopping environment and deterring potential thefts.
• Key staff: A seasoned store manager with 10 years in the retail and fuel sectors, supported by four cashiers, six fuel attendants, and three part-time staff members for restocking and cleaning.
• Employee growth: A commitment to staff development through quarterly training sessions focusing on safety protocols, customer service enhancements, and product knowledge.
• Startup costs: An initial outlay of $500,000 covering land lease, construction, and the first stock of inventory.
• Recurring expenditures: Estimated monthly expenses of $50,000 including salaries, utilities, and replenishing stock.
• Revenue breakdown: Anticipated monthly earnings from fuel sales ($120,000), convenience store sales ($80,000), and additional services ($10,000) totaling $210,000.
• Profit milestone: Predicted to hit the break-even point by the eighth month, with steady profit growth thereafter.

With its strategic offerings and location, “Fuel & Flee” stands on the precipice of becoming a dominant force in the convenience store and gas station domain. Tools like Solink can drastically amplify its operational capabilities and security levels, ensuring the venture is both profitable and remains a top pick for its diverse clientele.

Business plan example 2: "Buy Right", a grocery store

Here is the second business plan example. In this case, we are looking at opening a franchised grocery store. The overall size of the property is much higher, as are the startup costs.

In an era where consumer preferences lean towards vast selections and one-stop shopping experiences, grocery stores have an immense role. “Buy Right” seeks to harness this demand by inaugurating a large franchised grocery outlet, ensuring customers have access to a diverse range of products under one roof. 

Partnering with Solink, the store aims to guarantee safety, loss prevention, and deep business insights for continual improvement.

• Business essence: “Buy Right” will function as a large-scale franchised grocery store, offering everything from daily essentials to gourmet items.
• Strategic location: Situated in the bustling commercial hub of Maple Street, ensuring easy access for a large population.
• Mission: Delivering quality products at competitive prices while ensuring an unmatched shopping experience.
• Store blueprint: A sprawling 20,000 sqft store with dedicated sections for fresh produce, dairy, bakery, meats, international goods, and more.
• Legal design: Operating as a franchise under a well-renowned grocery chain ensures brand recognition and trust.
• Facility features: Equipped with 15 checkout counters (including 6 self-checkouts ), a deli, a bakery, and ample parking for over 100 vehicles.
• Industry dynamics: A consistent 4% annual growth in the large grocery store sector, particularly in urban areas.
• Target demographic: Segment 1: Families (50%); Segment 2: Young working professionals (30%); Segment 3: Seniors (20%).
• Competitive landscape: Three direct competitors within a 10-mile radius, including another franchised store and two local grocery chains.
• Comprehensive offerings: Over 15,000 unique SKUs from local, national, and international brands.
• Value-added services: A bakery producing fresh items daily, a deli offering cold cuts, and a pharmacy section.
• Tech enhancement: Implementation of Solink to monitor customer shopping patterns, ensuring inventory is aligned with demand and improving store layout based on customer heatmaps .
• Promotion: Weekly flyers highlighting discounts, in-store product sampling, and seasonal sales to boost footfall.
• Loyalty programs: “Buy More, Save More” program, aiming to increase average customer spending by 10% within the first year.
• Sales projections: Expected to serve over 500 customers daily, with an average spending of $50 per customer.
• Supply chain dynamics: Tie-ups with established distributors, ensuring regular stock replenishment and fresh produce every alternate day.
• Inventory management: Use of Solink to prevent POS employee theft , audit shelves for stock levels, and detect any irregular activities in real time.
• Security measures: Enhanced surveillance with Solink Video Alarms Monitoring Service .
• Management team: A store manager backed by a decade of retail experience, along with two assistant managers.
• Staff structure: A team of 40 which includes cashiers, stockers, bakery and deli staff, and customer service representatives.
• Training paradigm: Monthly training on product knowledge, customer service etiquette, and safety measures.
• Initial investment: Estimated at $1.5 million, covering franchising fees, store setup, and initial inventory.
• Ongoing expenses: Monthly costs projected at $200,000, which includes salaries, utilities, rent, and inventory purchases.
• Revenue estimates: Anticipated monthly revenue of $750,000, with the goal of achieving a break-even point by the seventh month.

“Buy Right” holds the potential to redefine grocery shopping in the Maple Street area by offering a comprehensive selection in a customer-friendly environment. The added advantage of Solink ensures security, streamlined operations , and valuable insights. With this robust plan, “Buy Right” is geared to flourish in the competitive grocery market.

Business plan example 3: "Green Groves", an eco-friendly store

This is the third retail business plan example. It is a unique concept store focusing on the green market. The business operates as an eco-friendly, zero waste store catering to environmentally conscious consumers.

In a world grappling with environmental issues, sustainable solutions are at the forefront of consumer choices. “Green Groves” aspires to be a game-changer in retail by offering an eco-friendly zero waste shopping experience. With the integration of Solink’s capabilities, security and insightful business analysis will be assured.

• Business ethos: “Green Groves” will pioneer a zero waste, packaging-free retail environment.
• Strategic spot: Positioned in the heart of EcoVille, a community known for its green initiatives.
• Objective: To nurture a sustainable shopping culture and diminish the carbon footprint of retail.
• Store design: A 5,000 sqft open-plan store, equipped with bulk bins, refill stations, and reusable container displays.
• Business form: Operates as a sole proprietorship, with strong ties to local organic farmers and ethical suppliers.
• Store features: Apart from bulk goods, there’s a section for sustainable living products like bamboo toothbrushes, metal straws, and cloth bags.
• Eco trend: A 7% yearly increase in consumers seeking sustainable shopping options.
• Target demographic: Segment 1: Eco-conscious families (45%); Segment 2: Millennials and Gen-Z (40%); Segment 3: Sustainable lifestyle adopters (15%).
• Rivals: Two health stores in the vicinity, but none offer a complete zero waste experience.
• Goods galore: A range of organic foods, personal care items, household cleaning products, all sold without packaging.
• Eco tools: Reusable containers for sale and rent, ensuring customers can shop even if they forget theirs.
• Tech integration: Solink will monitor the POS , preventing operational shrink, and will provide insights on consumer purchase patterns.
• Eco-campaigns: Monthly workshops on sustainable living, zero waste challenges, and rewards for consistent zero waste shoppers.
• Loyalty perks: “Sustain & Save” program, targeting a 12% hike in repeat customers within the initial year.
• Revenue forecast: Expecting an average daily footfall of 200 customers, with an average spend of $30.
• Supply chain: Direct collaborations with organic farmers and ethical product makers, ensuring fresh stock and product authenticity.
• Stock management: Remote video monitoring of the store and stockroom will help keep the right amount of inventory available for purchase.
• Safety and security: Enhanced by Solink’s surveillance capabilities, ensuring a safe and theft-free shopping environment.
• Lead team: Store manager with a passion for sustainable living, backed by a degree in environmental studies.
• Crew composition: A mix of 10 full-time and part-time staff members, including stockers, cashiers, and a dedicated person for customer education on zero waste.
• Kick-off capital: An estimated $250,000, which includes store setup, initial inventory, and marketing efforts.
• Recurring costs: Monthly operational expenses estimated at $30,000, covering salaries, rent, utilities, and stock replenishments.

“Green Groves” stands out as a beacon for sustainable shopping in EcoVille. With Solink in its arsenal, the store is not only set to offer a secure and streamlined shopping experience but also a data-driven approach to meet consumer demands effectively. This venture promises not just profitability but also a positive impact on the planet.

Add Solink to your retail business plan

In the evolving retail landscape, having a robust business plan is only the beginning. The real differentiator lies in harnessing cutting-edge tools that optimize operations, enhance security, and provide actionable insights. Solink stands out as a transformative solution in this realm. 

By integrating Solink into your retail strategy, businesses are not merely investing in surveillance but in a comprehensive tool that brings loss prevention, advanced security, and invaluable business insights to the fore. 

As demonstrated with “Green Groves”, a store with a vision, the marriage of sustainability and technology can create a retail environment that’s both profitable and in tune with modern needs. For any retailer crafting or refining their business plan, Solink isn’t just an option; it’s a forward-thinking imperative.

To see why Solink should be part of every retail business plan, sign up for a demo today.

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• Building Your Business
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• Business Plans

How To Write the Management Section of a Business Plan

Susan Ward wrote about small businesses for The Balance for 18 years. She has run an IT consulting firm and designed and presented courses on how to promote small businesses.

Ownership Structure

Internal management team, external management resources, human resources, frequently asked questions (faqs).

When developing a business plan , the 'management section' describes your management team, staff, resources, and how your business ownership is structured. This section should not only describe who's on your management team but how each person's skill set will contribute to your bottom line. In this article, we will detail exactly how to compose and best highlight your management team.

Key Takeaways

• The management section of a business plan helps show how your management team and company are structured.
• The first section shows the ownership structure, which might be a sole proprietorship, partnership, or corporation.
• The internal management section shows the department heads, including sales, marketing, administration, and production.
• The external management resources help back up your internal management and include an advisory board and consultants.
• The human resources section contains staffing requirements—part-time or full-time—skills needed for employees and the costs.

This section outlines the legal structure of your business. It may only be a single sentence if your business is a sole proprietorship. If your business is a partnership or a corporation, it can be longer. You want to be sure you explain who holds what percentage of ownership in the company.

The internal management section should describe the business management categories relevant to your business, identify who will have responsibility for each category, and then include a short profile highlighting each person's skills.

The primary business categories of sales, marketing , administration, and production usually work for many small businesses. If your business has employees, you will also need a human resources section. You may also find that your company needs additional management categories to fit your unique circumstances.

It's not necessary to have a different person in charge of each category; some key management people often fill more than one role. Identify the key managers in your business and explain what functions and experience each team member will serve. You may wish to present this as an organizational chart in your business plan, although the list format is also appropriate.

Along with this section, you should include the complete resumés of each management team member (including your own). Follow this with an explanation of how each member will be compensated and their benefits package, and describe any profit-sharing plans that may apply.

If there are any contracts that relate directly to your management team members, such as work contracts or non-competition agreements, you should include them in an Appendix to your business plan.

While external management resources are often overlooked when writing a business plan , using these resources effectively can make the difference between the success or failure of your managers. Think of these external resources as your internal management team's backup. They give your business credibility and an additional pool of expertise.

Advisory Board

An Advisory Board can increase consumer and investor confidence, attract talented employees by showing a commitment to company growth and bring a diversity of contributions. If you choose to have an Advisory Board , list all the board members in this section, and include a bio and all relevant specializations. If you choose your board members carefully, the group can compensate for the niche forms of expertise that your internal managers lack.

When selecting your board members, look for people who are genuinely interested in seeing your business do well and have the patience and time to provide sound advice.

Recently retired executives or managers, other successful entrepreneurs, and/or vendors would be good choices for an Advisory Board.

Professional Services

Professional Services should also be highlighted in the external management resources section. Describe all the external professional advisors that your business will use, such as accountants, bankers, lawyers, IT consultants, business consultants, and/or business coaches. These professionals provide a web of advice and support outside your internal management team that can be invaluable in making management decisions and your new business a success .

The last point you should address in the management section of your business plan is your human resources needs. The trick to writing about human resources is to be specific. To simply write, "We'll need more people once we get up and running," isn't sufficient. Follow this list:

• Detail how many employees your business will need at each stage and what they will cost.
• Describe exactly how your business's human resources needs can be met. Will it be best to have employees, or should you operate with contract workers or freelancers ? Do you need full-time or part-time staff or a mix of both?
• Outline your staffing requirements, including a description of the specific skills that the people working for you will need to possess.
• Calculate your labor costs. Decide the number of employees you will need and how many customers each employee can serve. For example, if it takes one employee to serve 150 customers, and you forecast 1,500 customers in your first year, your business will need 10 employees.
• Determine how much each employee will receive and total the salary cost for all your employees.
• Add to this the cost of  Workers' Compensation Insurance  (mandatory for most businesses) and the cost of any other employee benefits, such as company-sponsored medical and dental plans.

After you've listed the points above, describe how you will find the staff your business needs and how you will train them. Your description of staff recruitment should explain whether or not sufficient local labor is available and how you will recruit staff.

When you're writing about staff training, you'll want to include as many specifics as possible. What specific training will your staff undergo? What ongoing training opportunities will you provide your employees?

Even if the plan for your business is to start as a sole proprietorship, you should include a section on potential human resources demands as a way to demonstrate that you've thought about the staffing your business may require as it grows.

Business plans are about the future and the hypothetical challenges and successes that await. It's worth visualizing and documenting the details of your business so that the materials and network around your dream can begin to take shape.

What is the management section of a business plan?

The 'management section' describes your management team, staff, resources, and how your business ownership is structured.

What are the 5 sections of a business plan?

A business plan provides a road map showing your company's goals and how you'll achieve them. The five sections of a business plan are as follows:

• The  market analysis  outlines the demand for your product or service.
• The  competitive analysis  section shows your competition's strengths and weaknesses and your strategy for gaining market share.
• The management plan outlines your ownership structure, the management team, and staffing requirements.
• The  operating plan  details your business location and the facilities, equipment, and supplies needed to operate.
• The  financial plan  shows the map to financial success and the sources of funding, such as bank loans or investors.

SCORE. " Why Small Businesses Should Consider Workers’ Comp Insurance ."

9 key store management skills your business needs to succeed

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Managing a store involves multiple aspects including inventory, customers, employees, reporting, etc., thus requiring a diverse set of store management skills. This article will cover retail manager’s duties, the key 9 skills for a store manager, and how to succeed as a store manager. Let’s jump in. 

What does a retail manager do?

9 essential store management skills, how to become a successful store manager.

A retail manager has to supervise the day-to-day operations of a store to make sure all activities run smoothly and effectively. Retail managers work on the shop floor and are constantly in contact with their customers and employees. Therefore, this position requires multiple responsibilities including:

• Make sure popular products are always in stock to prevent missing out on sales
• Determine efficient reorder points and reduce warehousing costs
• Prevent thefts or losses
• Plan the store layout and organize products logically to help customers find the products they need
• Prepare promotional materials and displays to boost store traffic
• Deal with customer queries and complaints
• Assign staff shifts and monitor their performance, making sure that they are serving customers properly
• Motivate staff to meet sales targets and set an example
• Liaise with head office for a consistent business strategy
• Manage the store budgets
• Report statistical and financial records of the store
• Ensure compliance with health and safety legislation

Store management is a vital and complex job to ensure the health and efficiency of your store and employees. Here are the key 9 skills of a store manager:

Multitasking

The long list of retail manager responsibilities requires managers to have good competency in a wide range of aspects. This makes multitasking skills a must for store managers to complete their work on time. They should arrange their time with a to-do list for each day to finish their tasks while also keeping an eye on their team’s performance.

Time management

Together with multitasking, time management is also a crucial skill for managers. Managers should divide their tasks based on priority and urgency to take proper action. Here is the Eisenhower decision matrix that store managers should apply:

In addition, store managers should set clear objectives for the workload that must be completed within the day and block time for each task. They should also be able to eliminate distractions and deal with interruptions for themselves and the team.

Decision making

A good manager can evaluate and identify the crucial factors to the success of their store. Since the retail environment is changing quickly, managers must make prompt retail decisions to not miss out on opportunities. However, to avoid mistakes, a manager must consider all information thoroughly and select what is important and what isn’t.

Leadership abilities

Leadership skill is one of the most essential store management skills. You need to lead your team, not only manage them. A good leader processes excellent interpersonal skills like people management and problem-solving to unlock their team’s full potential. If you have this trait, you can encourage your staff to achieve more goals and sustain employee engagement.

Organizational skills

Store managers need organization skills to identify aspects or procedures that can be improved. This skill helps you streamline processes, manage schedules and budgets, recognize problems, reduce costs, and boost sales. Managers with good organization skills can also hire the best associates, give them good training, assign the right tasks to each staff, and help them grow their strengths.

Effective and impactful communication

Communication is the key to building a strong and efficient team. Retail managers should be able to communicate the points, as well as truly listen to employees’ ideas and issues. True communication skills will create trust and comprehension between managers and employees, making sure everyone understands each other and heads toward the same goal.

Motivational skills

Having motivational skills allows managers to inspire their employees to work harder and improve themselves. Good managers can provide constructive feedback and advice to their team members. From the employees’ perspective, having an inspiring manager will increase their job satisfaction, therefore they’re more likely to stay loyal to the company.

Efficient customer service

A manager should have strong customer service skills to set the strategies and train employees on how to serve customers. Excellent customer service will create a memorable shopping experience and keep customers coming back to your store. To do this, managers must understand customers’ needs, behaviors, and preferences.

Adaptability

Adaptability refers to flexibility and mental steadiness in facing everyday variations and changes. In the retail industry, you have to deal with many different issues, either stimulating or stressful. Therefore as a manager, you must be ready and able to prioritize, schedule, and tackle them quickly. Adaptability is a vital store manager skill to react promptly to changes. To be well prepared, you can plan the solution for any issues you think can happen, and follow the guide to solve them.

According to a study from Mood Media, the money and time spent by US shoppers in-store has gone up swiftly by 11% between 2020 and 2021 . This trend indicates customers’ readiness to return to in-person shopping, and emphasizes the importance of retail managers handling store operations. To become a better manager, you should follow these best practices:

1. Set SMART goals

As a store manager, you must set goals for yourselves and the team. Using SMART goals and a stimulating reward to inspire the team to do the best: S: Specific – What exactly are you trying to gain? M: Measurable – How can you know if you’ve achieved it? A: Attainable – Is it genuinely possible to achieve it? R: Relevant – Does it contribute to your values and long-term growth? T: Time-based – When do you want to accomplish this? In addition, before finalizing the goals, you should talk to your staff to ensure they agree with the goals and how to achieve them. Furthermore, you should track the progress and guide employees if they need help. Great retail managers don’t put unreasonable pressure on their staff. Instead, they provide guidance and encourage their team to keep going.

2. Focus on data

Retail managers have to deal with lots of data to make decisions. Data offers a large picture of how the store is performing, and managers must be able to interpret the data into actionable insights. Some questions you may ask yourselves when analyzing your store data include:

• Which products have the highest sales?
• When should you reorder a product?
• How much are you paying for storage?
• Which channel has the highest traffic and revenue?
• How much does it cost to get a new customer?
• What is the forecasted trend of products and customers’ preferences?
• Are your employees meeting KPIs?

3. Adopt new technology

To become a better manager, you should take full advantage of technology to boost efficiency in operation, marketing, and management. Adopting the right retail management software will help you reduce manual tasks, standardize all procedures, and complete your tasks more quickly, giving you more time for important jobs. Here are some aspects that technology can help enhance and automate:

• Inventory management : Sync data of sales and inventory level for accurate stock counting, receive low-stock alerts, create purchase orders, communicate with other warehouses for stock transfer.
• Omnichannel sales : Control products and sales via multiple channels apart from the physical store, such as website, social media, or app.
• Marketing campaigns: Generate campaigns targeting specific customer segments, create loyalty programs , promotions for holidays, and measure the results.
• Employee scheduling: Plan and assign schedules to employees, including notes like time, position, instructions, and send reminders.
• Employee management: Create training sections, manage the clock in and out, check employee sale performance, control sick leaves.

4. Encourage feedback

Managers should create a comfortable environment for employees to voice their concerns, opinions, or suggestions to improve the business. Since your staff talks directly to customers every day, they understand customers’ common challenges and expectations best. Encouraging employees to share their ideas will make them feel motivated and empowered to contribute to the company’s success. Make sure you have a regular schedule for feedback, this isn’t a one-time task.

5. Become a mentor

Being a good mentor is how you separate a normal manager from a dedicated one. Good managers will help their staff develop skills, thus building a strong team for success. Sharing your knowledge and experience with your mentees to help them learn from successful case studies and avoid mistakes.

Furthermore, you should spot talents who have the potential to become good leaders and offer special guidance to them. Since you may not have enough time to mentor every team member, pick the best ones and help them grow a long-term career in the retail industry.

Store manager is an important position in any retail business. Mastering the above 9 store management skills will help you enhance the performance of the store’s employees and improve productivity. A good manager can also identify bottlenecks in dealing with inventory, customers, and staff, and give solutions to streamline the process. As the retail market constantly changes, this role becomes more important to the success of your business.

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Convenience Store Business Plan Template

Written by Dave Lavinsky

Convenience Store Business Plan

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

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

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

Executive Summary

Business overview.

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

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

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

Product Offering

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

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

Customer Focus

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

Management Team

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

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

Success Factors

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

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

Financial Highlights

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

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

Company Overview

Who is speedy pete’s convenience store.

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

Speedy Pete’s Convenience Store History

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

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

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

Speedy Pete’s Convenience Store Products

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

Industry Analysis

Customer analysis, demographic profile of target market.

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

The precise demographics for Lansing, Michigan are:

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

Customer Segmentation

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

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

Competitive Analysis

Direct and indirect competitors.

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

Speed Demon Convenience Stores

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

9-29 Convenience Stores

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

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

Fast Time Convenience Stores

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

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

Competitive Advantage

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

Marketing Plan

Brand & value proposition.

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

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

Promotions Strategy

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

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

Print Advertising

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

Website/SEO Marketing

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

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

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

Operations Plan

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

Operation Functions:

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

Milestones:

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

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

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

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

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

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

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

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

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

Financial Plan

Key revenue & costs.

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

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

Funding Requirements and Use of Funds

Key assumptions.

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

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

Financial Projections

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

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

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

What are the Main Types of Convenience Stores?

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

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

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

What are the Steps To Start a Convenience Store Business?

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

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

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

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

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

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

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

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

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

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

• How to Start a Convenience Store Business

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Marlins set to lose manager Skip Schumaker at end of season?

Feb 17, 2024; Jupiter, FL, USA; Miami Marlins manager Skip Schumaker (55) talks to reporters during a spring training workout at the Marlins Player Development & Scouting Complex. Mandatory Credit: Sam Navarro-USA TODAY Sports

The Miami Marlins are off to an 0-9 start, and it certainly seems they might already be planning on a full organizational reset at the end of the season.

The Marlins quietly agreed to void the 2025 option they held on manager Skip Schumaker’s contract during the offseason, according to Bob Nightengale of USA Today . That means Schumaker will be eligible to become a free agent at the end of the 2024 season, and there do not appear to be any indications that the two sides plan to work out a new deal.

The Marlins are beset by problems both on and off the field. It started in the offseason when ownership tried to demote general manager Kim Ng despite her building a playoff team on a modest payroll. Ng opted to resign instead of accepting the arrangement, and reports at the time indicated that Schumaker was not happy with the organization’s handling of the situation.

Schumaker guided the Marlins to an 84-78 record and a playoff appearance as a rookie manager in 2023. The 2024 season looks like a lost cause, and Schumaker should still be a sought-after managerial candidate if he hits the open market.

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April Fools' Day pranks: Apps to translate baby stoner sayings, a ghostbuster at Tinder

Every april 1, brands and companies want to get some laughs – and attention – with goofy new 'product' launches. here are some ideas from companies such as sweetgreen, welch's and omaha steaks..

If you don't like Mondays, this one may especially be grating. It's April Fool's Day , when you should trust no one and question everything.

The roots of April Fools' Day may date back before to before the 15th century. But the modern-day April Fools' Day has become a day to prank a friend, family member, co-worker − or your customers.

Even though some companies have had April Fools' pranks backfire , marketers continue to issue spoof products in attempts to get some laughs and attention.

Already ahead of April Fools' Day, 7-Eleven has hinted at a possible prank product: In addition to new Lemon Lime, Green Apple and Sweet Orange flavored 7-Select sparkling waters, out now with partner Miracle Seltzer, there's a fourth flavor coming April 1: Big Bite Hot Dog.

The hot dog-flavored water "combines the mouthwatering experience of 7-Eleven’s iconic Big Bite Hot Dog into one refreshing beverage – ketchup and mustard included," the convenience chain says in a press release . "Say goodbye to the days of alternating bites of a hot dog with sips of a beverage, now those on the go can swap the bun for bubbles."

Krispy Kreme: A special doughnut deal for April Fools' Day

Will Big Bite Hot Dog sparkling water be sold? Its availability will be announced April 1. However, some reporters were sent a can of the drink. USA TODAY can confirm that it definitely smells like hot dog water and has a smoky aftertaste.

If you are interested in trying it, both 7-Eleven and Miracle Seltzer have hinted at having some to give away on their Instagram pages. (If you get a can, share with a friend as it's 16 ounces.)

Here's a roundup of many of the brand-related April Fools’ gag announcements. You've been warned.

Sour cream & onion flavored soda

Despite the proliferation of crazy-flavored products including Peeps-flavored Pepsi , Frank's RedHot sauce-flavored Vlasic pickles and Doritos Nacho Cheese-flavored liquor , healthy soda brand OLIPOP and Pringles are not really teaming up to bring to market a Sour Cream & Onion soda.

The product would have been "a match made in heaven … to bring the delicious, tangy flavor of Pringles’ Sour Cream & Onion flavor to life in liquid form with prebiotic benefits," the companies said.

Stoner lingo translation app

Another dream team prank product: Rosetta Stoned, a mobile app from Rosetta Stone and medical marijuana company Fluent , that "bridges the conversational gap between novice users and seasoned stoners in any social setting."

Da da decoder

Infant equipment site BabyQuip has its own language-bridging lark: the “Baby Translator” app, to decode your baby's secret language.

"Say 'goodbye' to restless nights as you decode your baby's coos and cries instantly, providing you with the understanding you need as a parent, all in one convenient app," it promises.

An AI-powered plush doll

Custom stuffed animal maker Budsies already makes selfie plush dolls with a built-in voice recorder. Its April Fools' spoof: Artificial intelligence-enabled dolls that "come programmed to learn everything about you and to become your new best friend."

A 50-pound Bearabuddy

Sorry to the 3,500 or so who have already signed up to buy Bearaby's Jumbo Benji plush toy, which is four times the size of its regular weighted plush toys and twice as heavy as its heaviest weighted blanket . This isn't actually going to be sold. But it is real and will be making its home in the lobby at The Child Mind Institute in Harlem to welcome children and their families. More weighted plushies are due the day after April Fools' Day, the company says.

A sleeping bag to go bananas over

The Dole Banana Peel Sleeping Bag, conveniently promoted as being available on April Fools' Day only, is made from actual banana fiber and "allows parents to escape into their own cocoon of sensory deprivation."

A full-body cleaning suit

Outrageous clothing company Tipsy Elves has a special product for April Fools' Day: The Mopsie. You don't need paper towels anymore, you can use your body to clean up those messes, with this "innovative, wearable microfiber towel jumpsuit" for "effortlessly soaking up spills and messes with ease." There's also a Baby Mopsie for "hard to reach places."

Korean BBQ deodorant

Kevin's Natural Foods , which has paleo- and keto-certified ready-to-cook and easy-prep entrées, is touting a new line of personal care products inspired by its food dishes including Korean BBQ Deodorant, Cilantro Lime Toothpaste, Lemongrass Basil Shampoo and Tikka Masala Sunscreen.

"These new face, body and hair care essentials will help fans prioritize self-care inside and out," the company says. 

Omaha Steaks' meaty sprays

Omaha Steaks has its own personal care prank product: Meaty Spritz sprays with flavors such as Omaha Fog, Hog Haze, and Cock-a-Doodle-Dew.

"The world’s first protein-infused, flavor-packed, portable pump spray … (to) enjoy all the mouthwatering flavors of your Omaha Steaks gourmet favorites no matter how far away from the kitchen you are!" the company says.

Sriracha toothpaste

Asian sauce maker Lee Kum Kee , which makes Sriracha Chili Sauce and Sriracha Mayo Dressing, is introducing – not – its Siracha Mayo Toothpaste. It's "fiery and creamy goodness … is sure to spice up your morning dental routine."

Post-salad dental kit

Need some less powerful toothpaste? Sweetgreen offered these fanciful personal hygiene products as part of its Sweetgreen After Salad Kit, which is "designed with your pearly whites in mind … offering everything you need to freshen up post-meal."

Choose from Miso Ginger Toothpaste, Spicy Cashew Mints, Lime Cilantro Dental Floss, and Sweetgreen Toothbrush and Floss Picks.

Fruit juice lip gloss

More personal care prank products: Welch’s Juicyfuls Juicy Fruit Lip Gloss – now available in five flavors: grape, orange, peach, strawberry and raspberry – made with real juice from Juicefuls fruit snacks so "you get that irresistible sweet flavor you love, all in a lip gloss that's as fun as it is nourishing."

Protein-powered seasonings

Quest Nutrition , maker of protein powder, snacks and other products, has a prank product line of seasonings including All Purpose, Lemon Pepper, and Garlic Herb, each of which deliver "21g of protein, 2g of net carbs and less than 1g of sugar."

If you want to try Quest's real products, you can use code NOJOKE for free shipping on online orders over $49 April 1-3.

Superpowered Superfeet?

These would certainly come in hand on a run, but – sorry – it's a jogging joke. Superfeet SuperBoost Power E-Soles gives you 8 hours of continuous battery-powered boost, for almost Iron Man-like propulsion. "All the comfort and support of Superfeet , now with electrifying performance," the company says in a video about the prank product. "It's like having a powerful electric motor in your shoes."

Scotch tape-branded Scotch?

This shenanigan seems like a blend that could stick: Scotch Whisky by Scotch Brand. The whisky "features a nose of cherry wood and a delightfully smooth finish that hits like a well-wrapped gift."

Who you gonna call when ghosted? This new title at Tinder

Dating app Tinder announced a new April Fools' Day hiring quest for a Vice President of Ghost Hunting to help combat "one of dating culture’s most prevalent vices – ghosting," a practice inflicted on 78% of singles already in 2024 (an untrue fact from Tinder).

Patrón's bringing back a beloved liqueur. No kidding.

Patrón patrons get some good news today. The premium tequila maker chose April Fools' Day to announce the return of its Patrón XO Cafe tequila-based coffee liqueur, which was discontinued in 2021. Since production ceased, devotees took to social media and signed a petition asking parent company Bacardi to bring it back.

Made with Patrón Silver tequila and Arabica bean coffee – the dry liqueur can be sipped straight, in cocktails and as dessert topping – Patrón XO Cafe will begin arriving in stores again later this month.

Say it with dead flowers

Don't forget to put roses on your April Fools' Day list. UrbanStems has this "special" delivery, The Dead Inside Collection, "an assortment of dead flower bouquets, dead plants, half empty vases, and more for the pessimist in your life." But, for real, check UrbanStems' social media accounts including Instagram for how to get 20% off an order of real flowers.

Cheesecake Factory's real deals

The Cheesecake Factory  also has a deal that's no joke: Sign up for the chain's Cheesecake Rewards loyalty program on April 1 to get an Any Slice, Half Price reward, redeemable for 50% off any slice of cheesecake or layer cake, with any food or beverage purchase (no gift cards).

Those who were members before April 1 will find something special in their account on Monday, too: either a free slice of cheesecake each month for a year, a free whole cheesecake, a free slice of cheesecake, $5 off $25 purchases, or $10 off $40 purchases. (All rewards redeemable by April 16; can be redeemed for dine-in, to-go and DoorDash.)

New merch from Dunkin', bonus points in app

Dunkin' announced it is going back to its roots and rebranding to just "Donuts'" on Monday, April 1. To celebrate the rebrand, the company is selling "Donuts'" merch, including sweatshirts that read "DONUTS," on ShopDunkin.com .

Additionally, Dunkin' Rewards members will receive 3x bonus points on any donut order through the mobile app on April 1.

Urban Outfitters launches 'Name Three Shirts' movement

Urban Outfitters said it is launching a global movement to "stand in solidarity against band-tee-shaming" by launching a new collection called "Name Three Shirts."

The t-shirt line "playfully mocks the gatekeeping attitudes of older generations who insist that band-shirt wearers should be required to name songs by those artists," the company said in a news release.

The line, which features revamped logos from bands such as The Grateful Dead, Joy Division and Led Zeppelin, is a "playful jab at the attitudes of older generations, and fights back against the misogynistic undertones of the infamous ‘name three songs’ line of questioning," Urban Outfitters said in the news release.

The collection of shirts is available online and in select Urban Outfitters stores starting April 1. You can shop the collection online here .

Auntie Anne's, Frontier Airlines collaborate on Pretzel Plane

Auntie Anne's pretzels and Frontier Airlines announced they have collaborated on the newest addition to Frontier's fleet: the Pretzel Plane.

According to a news release, the plane includes new in-flight entertainment featuring Auntie Anne's pretzels rolled seat-side, the "luxurious" smell of hot, fresh pretzels throughout the cabin and airplane-shaped pretzels if you're feeling hungry.

Moe's Southwest Grill, Sonic team up to introduce a Queso Slush

Two popular fast food chains announced a collaboration that is sure to be polarizing.

Moe's and Sonic announced a new beverage, the Queso Slush, a queso-flavored slushie. "The frozen goodness of a Sonic Slush meets the delicious flavor of Moe's queso."

Follow Mike Snider on X and Threads:  @mikesnider  & mikegsnider .

Gabe Hauari is a national trending news reporter at USA TODAY. You can follow him on X  @GabeHauari  or email him at [email protected].

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99 Cents Only to close all 371 stores and wind down its business

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99 Cents Only Stores will close all 371 of its stores and wind down its business operations after more than four decades, the City of Commerce discount chain announced Thursday.

“This was an extremely difficult decision and is not the outcome we expected or hoped to achieve,” interim Chief Executive Mike Simoncic said in a statement. “Unfortunately, the last several years have presented significant and lasting challenges in the retail environment.”

He cited multiple factors, including the “unprecedented impact” of the COVID-19 pandemic, shifting consumer demand, persistent inflationary pressures and rising levels of shrink — an industry term that refers to loss of inventory attributed to reasons such as shoplifting, employee theft and administrative errors.

Combined, those issues “have greatly hindered the company’s ability to operate,” Simoncic said.

99 Cents Only has stores in California, Arizona, Nevada and Texas and has about 14,000 employees. The privately held company said it had reached an agreement with Hilco Global to liquidate all of its merchandise and dispose of fixtures, furnishings and equipment at its stores. Sales are expected to begin Friday.

Hilco Real Estate is managing the sale of the company’s real estate assets, which are owned or leased.

99 Cents Only may turn into 99 cents mostly

Chain is expected to announce some items won’t stay under $1.

Sept. 5, 2008

The announcement by 99 Cents Only reflects a larger weakness in the dollar-store category, said Brad Thomas, equity research analyst at KeyBanc Capital Markets.

Dollar Tree, a Chesapeake, Va., retailer, announced last month that it was closing 600 of its Family Dollar stores this year and an additional 370 in the next few years, he noted.

“It’s been trying times for many, many retailers,” he said. “What’s interesting is that what started out as a boon to retailers in the pandemic, with all those stimulus checks, quickly turned into a very troublesome time.”

Rising wages, inflation and higher losses due to shrinkage have reduced profits for retailers in a deep-discount sector where margins are already extremely low.

99 Cents Only, with its large base of California stores, has been under particular wage pressure, he said. And it’s at a disadvantage compared with larger chains such as market leader Dollar General, which has a store count close to 20,000 — “a sales base and a store base that is multiple times larger than 99 Cents,” Thomas said.

Last week, Bloomberg reported that 99 Cents Only was considering a bankruptcy filing as it contended with a liquidity shortfall.

Founded in Los Angeles in 1982 by David Gold , 99 Cents Only popularized the single-price retail concept. At the time, dollar stores were seen as dumping grounds for undesirable products, but the Gold family made the stores bright and well-organized, with good-quality merchandise including groceries and household supplies.

“It was an instant success,” Howard Gold, one of David Gold’s sons, recalled Friday; he and his three siblings all worked at 99 Cents Only. “People thought it was government-subsidized because they couldn’t believe the prices.”

For years, it remained one of the few true “dollar” stores, with items priced at 99 cents or less or grouped to sell for a total of 99 cents.

That changed in 2008 when, faced with fast-rising inflation, soaring food and fuel prices, and a higher minimum wage, 99 Cents Only announced that it was straying from its long-standing price strategy.

Three years later, the company announced that it had agreed to be sold in a deal valued at about $1.6 billion, as investors eyed dollar stores that had grown in popularity during the Great Recession. In 2013, Howard Gold and the rest of the family management team departed the company.

Today, with stores scattered around Los Angeles County — among them in Hollywood, Silver Lake, Mid-Wilshire, Santa Monica, Thai Town, North Hollywood and Glendale — the closure of 99 Cents Only will leave a number of large vacant properties in prime locations.

“It’s very sad on many levels, and I’ll just leave it at that,” Gold, now retired and living in Studio City, said of the decision to close the chain his father built.

Other major retailers have also announced store closures in the region lately, including REI in Santa Monica , Macy’s in Simi Valley and several Rite Aid locations .

99 Cents Only did not respond to requests for comment.

Nicolas Kolesnikow, a retired teacher who lives in Westchester, said he was shocked to hear the chain was going out of business. He shops at a 99 Cents Only about four blocks from his house several times a week.

“It’s almost like a corner store for me,” said Kolesnikow, 82.

He might stop by and pick up milk if he runs out, and for longer trips will buy household items and produce such as tomatoes, cucumbers and cilantro before visiting a traditional supermarket with a larger selection.

Kolesnikow said he noticed that some products had become much more expensive in the last year, though there were still bargains.

“I found their prices were working their way up to regular prices,” he said, “and there were fewer shoppers.”

More to Read

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Andrea Chang is a wealth reporter for the Los Angeles Times. She was previously a Column One editor, the deputy Food editor and an assistant Business editor, and has covered beats including technology and retail. Chang joined the paper in 2007 after graduating from the Medill School of Journalism at Northwestern University. She grew up in Cupertino, Calif.

Laurence Darmiento covers wealth and dealmakers in Southern California for the Los Angeles Times. He joined the paper in 2015 as an assistant business editor and has overseen finance, real estate and Washington business coverage. Darmiento previously had been the managing editor of the Los Angeles Business Journal and was a reporter for the Los Angeles Daily News and other outlets. A New York native, he is an alumnus of Cornell University.

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Supermarket Manager Simulator 3d is not just a game - it is a challenge that will test your management and strategy skills. Try it today and show how a real store is run! Manage your own store! Chips, fries, meat, burgers, vegetables and fruit. Eggs, cheese, breakfast cereals, juices or milk - order all products cheaply online and put them on your shelves. Expand your store, make it bigger and provide the best possible service. Create promotions and set competitive prices so that the goods sell quickly. Handle cash and card payments and watch out for thieves. Maybe you will need protection to prevent any thief simulator from stealing anything from your store? Over time, renovation, painting of walls, or hanging new lamps and decorations will be necessary. You will do all this in the open world of a supermarket simulator with excellent, realistic 3D graphics. Have fun and don't go broke. Achieve real success. Take on the role of a manager in the most addictive simulation game for mobile devices - Supermarket Simulator 3d! Open the doors to your store and build it from scratch, transforming a small shop into the ultimate Super Market. Become the great manager and make your store outstanding. Manage Inventory: Keep shelves always full. Order products, negotiate prices and follow trends to attract customers. In this 3d simulation game you can freely customise your supermarket: change the appearance of your shop, choose themes, colors and decorations that best reflect your style. Expand your product range: Unlock new products, activities and services that will satisfy even the most demanding customers. Manage Staff: Recruit, train and motivate employees to ensure the best customer service and operational efficiency. Customer Satisfaction: Monitor your customers' needs and respond to their feedback. Ensure high quality of service to build a permanent base of satisfied customers. Unlock chips, sushi, crab sticks and tons of new products! Have fun and develop the great store!

Version 1.0.1

- Brand new furniture - sunglasses stand, vegetables rack and small shelf - New products - sunglasses, fruits and vegetables - Brand new improved icon - Tutorial improvements

Ratings and Reviews

525 Ratings

Good game, but adds are annoying

I have been waiting for this game to come out on mobile, its a lot of fun but it would be a lot better without all of the add pop ups.

Supermarket simulator

I really love the game I have been waiting for it but I wish we didn’t have a timer on the product stuff after we buy it I feel like it takes to long but I really love the game hopefully that could be a update one day

I absolutely love this game!

App Privacy

The developer, Digital Melody , indicated that the app’s privacy practices may include handling of data as described below. For more information, see the developer’s privacy policy .

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The following data may be collected but it is not linked to your identity:

• User Content

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Information

• Remove Interstitial Ads $3.99
• 250 Premium Currency $1.99
• $1000 $4.99
• 600 Premium Currency $3.99
• 1000 Premium Currency $6.99
• $10000 $29.99
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40 facts about elektrostal.

Written by Lanette Mayes

Modified & Updated: 02 Mar 2024

Reviewed by Jessica Corbett

Elektrostal is a vibrant city located in the Moscow Oblast region of Russia. With a rich history, stunning architecture, and a thriving community, Elektrostal is a city that has much to offer. Whether you are a history buff, nature enthusiast, or simply curious about different cultures, Elektrostal is sure to captivate you.

This article will provide you with 40 fascinating facts about Elektrostal, giving you a better understanding of why this city is worth exploring. From its origins as an industrial hub to its modern-day charm, we will delve into the various aspects that make Elektrostal a unique and must-visit destination.

So, join us as we uncover the hidden treasures of Elektrostal and discover what makes this city a true gem in the heart of Russia.

Key Takeaways:

• Elektrostal, known as the “Motor City of Russia,” is a vibrant and growing city with a rich industrial history, offering diverse cultural experiences and a strong commitment to environmental sustainability.
• With its convenient location near Moscow, Elektrostal provides a picturesque landscape, vibrant nightlife, and a range of recreational activities, making it an ideal destination for residents and visitors alike.

Known as the “Motor City of Russia.”

Elektrostal, a city located in the Moscow Oblast region of Russia, earned the nickname “Motor City” due to its significant involvement in the automotive industry.

Home to the Elektrostal Metallurgical Plant.

Elektrostal is renowned for its metallurgical plant, which has been producing high-quality steel and alloys since its establishment in 1916.

Boasts a rich industrial heritage.

Elektrostal has a long history of industrial development, contributing to the growth and progress of the region.

Founded in 1916.

The city of Elektrostal was founded in 1916 as a result of the construction of the Elektrostal Metallurgical Plant.

Located approximately 50 kilometers east of Moscow.

Elektrostal is situated in close proximity to the Russian capital, making it easily accessible for both residents and visitors.

Known for its vibrant cultural scene.

Elektrostal is home to several cultural institutions, including museums, theaters, and art galleries that showcase the city’s rich artistic heritage.

A popular destination for nature lovers.

Surrounded by picturesque landscapes and forests, Elektrostal offers ample opportunities for outdoor activities such as hiking, camping, and birdwatching.

Hosts the annual Elektrostal City Day celebrations.

Every year, Elektrostal organizes festive events and activities to celebrate its founding, bringing together residents and visitors in a spirit of unity and joy.

Has a population of approximately 160,000 people.

Elektrostal is home to a diverse and vibrant community of around 160,000 residents, contributing to its dynamic atmosphere.

Boasts excellent education facilities.

The city is known for its well-established educational institutions, providing quality education to students of all ages.

A center for scientific research and innovation.

Elektrostal serves as an important hub for scientific research, particularly in the fields of metallurgy, materials science, and engineering.

Surrounded by picturesque lakes.

The city is blessed with numerous beautiful lakes, offering scenic views and recreational opportunities for locals and visitors alike.

Well-connected transportation system.

Elektrostal benefits from an efficient transportation network, including highways, railways, and public transportation options, ensuring convenient travel within and beyond the city.

Famous for its traditional Russian cuisine.

Food enthusiasts can indulge in authentic Russian dishes at numerous restaurants and cafes scattered throughout Elektrostal.

Home to notable architectural landmarks.

Elektrostal boasts impressive architecture, including the Church of the Transfiguration of the Lord and the Elektrostal Palace of Culture.

Offers a wide range of recreational facilities.

Residents and visitors can enjoy various recreational activities, such as sports complexes, swimming pools, and fitness centers, enhancing the overall quality of life.

Provides a high standard of healthcare.

Elektrostal is equipped with modern medical facilities, ensuring residents have access to quality healthcare services.

Home to the Elektrostal History Museum.

The Elektrostal History Museum showcases the city’s fascinating past through exhibitions and displays.

A hub for sports enthusiasts.

Elektrostal is passionate about sports, with numerous stadiums, arenas, and sports clubs offering opportunities for athletes and spectators.

Celebrates diverse cultural festivals.

Throughout the year, Elektrostal hosts a variety of cultural festivals, celebrating different ethnicities, traditions, and art forms.

Electric power played a significant role in its early development.

Elektrostal owes its name and initial growth to the establishment of electric power stations and the utilization of electricity in the industrial sector.

Boasts a thriving economy.

The city’s strong industrial base, coupled with its strategic location near Moscow, has contributed to Elektrostal’s prosperous economic status.

Houses the Elektrostal Drama Theater.

The Elektrostal Drama Theater is a cultural centerpiece, attracting theater enthusiasts from far and wide.

Popular destination for winter sports.

Elektrostal’s proximity to ski resorts and winter sport facilities makes it a favorite destination for skiing, snowboarding, and other winter activities.

Promotes environmental sustainability.

Elektrostal prioritizes environmental protection and sustainability, implementing initiatives to reduce pollution and preserve natural resources.

Home to renowned educational institutions.

Elektrostal is known for its prestigious schools and universities, offering a wide range of academic programs to students.

Committed to cultural preservation.

The city values its cultural heritage and takes active steps to preserve and promote traditional customs, crafts, and arts.

Hosts an annual International Film Festival.

The Elektrostal International Film Festival attracts filmmakers and cinema enthusiasts from around the world, showcasing a diverse range of films.

Encourages entrepreneurship and innovation.

Elektrostal supports aspiring entrepreneurs and fosters a culture of innovation, providing opportunities for startups and business development.

Offers a range of housing options.

Elektrostal provides diverse housing options, including apartments, houses, and residential complexes, catering to different lifestyles and budgets.

Home to notable sports teams.

Elektrostal is proud of its sports legacy, with several successful sports teams competing at regional and national levels.

Boasts a vibrant nightlife scene.

Residents and visitors can enjoy a lively nightlife in Elektrostal, with numerous bars, clubs, and entertainment venues.

Promotes cultural exchange and international relations.

Elektrostal actively engages in international partnerships, cultural exchanges, and diplomatic collaborations to foster global connections.

Surrounded by beautiful nature reserves.

Nearby nature reserves, such as the Barybino Forest and Luchinskoye Lake, offer opportunities for nature enthusiasts to explore and appreciate the region’s biodiversity.

Commemorates historical events.

The city pays tribute to significant historical events through memorials, monuments, and exhibitions, ensuring the preservation of collective memory.

Promotes sports and youth development.

Elektrostal invests in sports infrastructure and programs to encourage youth participation, health, and physical fitness.

Hosts annual cultural and artistic festivals.

Throughout the year, Elektrostal celebrates its cultural diversity through festivals dedicated to music, dance, art, and theater.

Provides a picturesque landscape for photography enthusiasts.

The city’s scenic beauty, architectural landmarks, and natural surroundings make it a paradise for photographers.

Connects to Moscow via a direct train line.

The convenient train connection between Elektrostal and Moscow makes commuting between the two cities effortless.

A city with a bright future.

Elektrostal continues to grow and develop, aiming to become a model city in terms of infrastructure, sustainability, and quality of life for its residents.

In conclusion, Elektrostal is a fascinating city with a rich history and a vibrant present. From its origins as a center of steel production to its modern-day status as a hub for education and industry, Elektrostal has plenty to offer both residents and visitors. With its beautiful parks, cultural attractions, and proximity to Moscow, there is no shortage of things to see and do in this dynamic city. Whether you’re interested in exploring its historical landmarks, enjoying outdoor activities, or immersing yourself in the local culture, Elektrostal has something for everyone. So, next time you find yourself in the Moscow region, don’t miss the opportunity to discover the hidden gems of Elektrostal.

Q: What is the population of Elektrostal?

A: As of the latest data, the population of Elektrostal is approximately XXXX.

Q: How far is Elektrostal from Moscow?

A: Elektrostal is located approximately XX kilometers away from Moscow.

Q: Are there any famous landmarks in Elektrostal?

A: Yes, Elektrostal is home to several notable landmarks, including XXXX and XXXX.

Q: What industries are prominent in Elektrostal?

A: Elektrostal is known for its steel production industry and is also a center for engineering and manufacturing.

Q: Are there any universities or educational institutions in Elektrostal?

A: Yes, Elektrostal is home to XXXX University and several other educational institutions.

Q: What are some popular outdoor activities in Elektrostal?

A: Elektrostal offers several outdoor activities, such as hiking, cycling, and picnicking in its beautiful parks.

Q: Is Elektrostal well-connected in terms of transportation?

A: Yes, Elektrostal has good transportation links, including trains and buses, making it easily accessible from nearby cities.

Q: Are there any annual events or festivals in Elektrostal?

A: Yes, Elektrostal hosts various events and festivals throughout the year, including XXXX and XXXX.

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California minimum wage shocks fast food workers as restaurant closes: 'Only the beginning,' ex-manager warns

Fosters freeze in lemoore allegedly blindsided workers by announcing last-minute closure.

'It's a shock': Fosters Freeze location in California closes over minimum wage hike

Former Fosters Freeze assistant general manager Monica Navarro reacts to the sudden closure and how others are responding on 'The Bottom Line.' 

Another California small business and its workers have seemingly suffered at the hands of the state’s newly enacted $20 minimum wage .

"It's a shock," Monica Navarro, former assistant general manager at Fosters Freeze in Lemoore, said Wednesday on " The Bottom Line ."

"It would have been nice to have a notice, so we could go get some applications [out], I could prepare them," she continued. "The best I can do is honestly give them some references."

When making their way to work Monday morning, Navarro and her team learned upon arrival that the restaurant owner had made the decision to close its doors for good. The owner, Loren Wright, told local Fox affiliate KMPH that this was the "last thing" they wanted to do, but knew by Friday night the business likely wouldn’t be able to absorb the wage hike and didn’t "want to ruin their Easter Sunday."

CALIFORNIA FAST FOOD FRANCHISEE SLAMS NEWS MINIMUM WAGE, INVESTS IN NEVADA OVER SIX-FIGURE LOSS

The new California statewide legislation went into effect Monday and enforces a $20 minimum wage for restaurants that have at least 60 locations nationwide, except those that make and sell their own bread.

Former assistant general manager Monica Navarro at Fosters Freeze in Lemoore, California, says the team felt "shock" learning the restaurant closed Monday due to the new minimum wage law. (Fox News)

"Two of my coworkers were actually going in to clock-in for the morning. And right after that, that's when I got a phone call that we were closing. So they found out right as they were about to clock-in for the day," Navarro recalled.

"We had gotten a text in the group chat that we were shutting down, and I completely thought it was an April Fool's joke," one of Navarro’s colleagues also told KMPH.

After speaking further with management and Fosters Freeze’s owner, Navarro learned that the minimum wage law was the primary factor in the restaurant’s demise.

CA fast food franchisee plans to move investments out-of-state over minimum wage hike

California franchise operator Alex Johnson estimates his 10 restaurant locations will be out $470,000 total due to the state's new minimum wage law.

"He did blame it on the minimum wage increase. Although, from my understanding, I think we were exempt from it because of the amount of locations that he personally owns. But, he did ultimately blame it on that increase," she said.

"I can see their intentions with increasing the minimum wage, thinking that it will attract more people," the ex-manager added, "but I honestly don't think it will work. This is not the first business that's closing. There's already a few local businesses for me that are closing, so I feel like this is just only the beginning."

GET FOX BUSINESS ON THE GO BY CLICKING HERE

California restaurants crushed by $20 minimum wage: 'People need to wake up'

Los Angeles restaurant owner Angela Marsden joins 'America's Newsroom' to explain the direct impact of California's fast food minimum wage increase on small businesses, including layoffs and store closures.

Speaking on behalf of the now unemployed Fosters Freeze team, Navarro claimed they would have preferred working at a lower hourly rate than being laid off .

"From the people that I spoke to, my employees, we would have rather stayed at the wage that we did have before, just because now we don't have a job," Navarro said. "And those who are still working in the areas around us that went up to $20 an hour, they got their hours severely cut. And it's a lot less people working on shifts. So their jobs got a lot more difficult."

READ MORE FROM FOX BUSINESS

FOX Business’ Breck Dumas contributed to this report.