Thinking about opening a convenience store? We tell you what you need to know to get started.
(article continues below)
Successful Business Plans for Convenience Stores
As a startup small business owner, you need to have a business plan you can rely on for both external and internal purposes.
Although there are a lot of tasks screaming for your attention, cutting corners on your business plan can be a precursor to disaster. Why? Because there are a multitude of reasons why your company can't succeed without a sound business plan.
Before you do anything else, perform a reality check on your startup business plan – and if it's lacking, drop everything and head back to the drawing board.
Well in advance of opening a convenience store within your community, it's essential to see what the competition looks like. Try our link below to get a list of local competitors in your area. Complete the form by entering your city, state and zip code to get a list of convenience stores that are close by.
Is the established competition doing a good job? It's important to understand their strengths and weaknesses and think through how you'll stake up against those established businesses.
Learn from Others Who Are Already In This Space
Once you've finished assessing the competion, you really ought to speak with somebody who is already in the business. It's very unlikely that the local competition will talk to you. The last thing they want to do is help you to be a better competitor.
On the other hand, an individual who has a convenience store on the other side of the country can be a great learning resource for you, given that you don't compete with them in their area. Indeed, many experienced entrepreneurs enjoy offering advice to startup entrepreneurs. Our estimate is that you may have to contact many business owners to find one who is willing to share his wisdom with you.
Where can you find a convenience store founder in another community?
Here's one way to do it. Just use our link below, find somebody and call them.
Business Brokerage for Convenience Store Entrepreneurs
Business owners are decision makers. And the first decision you'll need to make is between a convenience store startup and an acquisition. In most cases, there are compelling financial and practical reasons buying an existing convenience store.
A qualified business brokers can provide a range of services designed to ease your transition into business ownership.
The best business brokers will ensure that you get the right business for the right price, and will help you avoid common convenience store acquisition mistakes.
For many entrepreneurs, franchising is an attract alternative to starting a business from ground zero. Franchises are popular because they are based on a business model that works. The nation's leading franchisors know their way around the industry and are now passing their learnings on to the next generation of business leaders. Today's franchises offer a range of opportunities for ambitious startups.
For more information about convenience store franchise opportunities, click on the link below to explore our franchise directory.
These additional resources regarding starting a business may be of interest to you.
If you already are in business and came here to learn about growing an existing convenience store, try these useful resources:
If you came here to learn about selling to convenience stores, you're in the wrong place. These resources are more appropriate for you:
If you are interested in starting a different kind of business, please browse our directory of guides below.