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Cost of Opening Up A Convenience Store

How to Start a Convenience Store Business, Convenience Store Business Plan PDF

 

How to Start a Convenience Store Business - Free Book


Are you considering starting a Convenience Store Business? if yes, you'll find this free book to be extremely helpful.

This is a practical guide that will walk you step by step through all the essentials of starting your business. The book is packed with guides, worksheets and checklists. These strategies are absolutely crucial to your business' success yet are simple and easy to apply.

The Single Most Important Ingredient for Business Success

The first and most important thing you need to acquire in order to succeed in a small business is... knowledge.

Sounds exaggerated? Listen to this...

According to research conducted by Dun & Bradstreet, 90% of all small business failures can be traced to poor management resulting from lack of knowledge.

This is backed up by my own personal observations. In my 31 years as a business coach and consultant to small businesses, I've seen practically dozens of small business owners go under and lose their businesses -- not because they weren't talented or smart enough -- but because they were trying to re-invent the wheel rather than rely on proven, tested methods that work.

Conclusion: if you are really serious about succeeding in a business... If you want to avoid the common traps and mistakes... it is absolutely imperative that you acquire the right knowledge.

"Why Invent Mediocrity, When You Can Copy Genius?"

That's an excellent quote I picked up from a fellow business owner a few years back. What this means is that you should see what is working and try to duplicate it. Why go through all the trouble of inventing something new, that you don't even know will ever work, when you can easily learn from and duplicate something that has been a proven success?

[ Note: One of the BIGGEST mistakes almost all new businesses make is that they WASTE tons of valuable time, energy and money on trying to create something "new", that has never been tested or proven... only to find out later that it was a total loss. Don't make the same mistake! ]

Hi! My name is Meir. I'm the founder and president of BizMove.com, a successful Internet based information business. I'm also the author of numerous books, mostly in the area of small business management.

I've been involved in small business for the past 31 years of my life, as a business coach, manager of a Convenience Store firm, a seminar leader and as the owner of five successful businesses.

During my career as a business coach and consultant I've helped dozens of business owners start their businesses, market, expand, get out of troubles, sell their businesses and do practically every other small business activity you can think of.
You see, I have been there .... done it ... and bought the Small Business t-shirt! -- This free book contains techniques and strategies I've learned during my 31 year small business career.

Here's what you'll discover in the 'How to Start a Convenience Store Business' book:

How to determine the feasibility of your business idea - a complete fill in the blanks template system that will help you predict problems before they happen and keep you from losing your shirt on dog business ideas.

A detailed manual that will walk you step by step through all the essential phases of starting your business

A complete business plan template. This fill-in-the-blanks template includes every section of your business plan, including Executive Summary, Objectives, SWOT Analysis, Marketing Analysis and Strategy, Operations Plan, Financial Projections and more (a similar template is sold elsewhere for $69.95).

All this and much much more.

Success Tip: Setting Goals

Good management is the key to success and good management starts with setting goals. Set goals for yourself for the accomplishment of the many tasks necessary in starting and managing your business successfully. Be specific. Write down the goals in measurable terms of performance. Break major goals down into sub-goals, showing what you expect to achieve in the next two to three months, the next six months, the next year, and the next five years. Beside each goal and sub-goal place a specific date showing when it is to be achieved.

Plan the action you must take to attain the goals. While the effort required to reach each sub-goal should be great enough to challenge you, it should not be so great or unreasonable as to discourage you. Do not plan to reach too many goals all at one time.

Establish priorities. Plan in advance how to measure results so you can know exactly how well you are doing. This is what is meant by "measurable" goals. If you can’t keep score as you go along you are likely to lose motivation. Re-work your plan of action to allow for obstacles which may stand in your way. Try to foresee obstacles and plan ways to avert or minimize them.

Click here! to download your book for free (PDF version)

Here're other free books in the "how to start a business" series that may interest you:

Agriculture Assisted living Auto repair Bakery Bar Beauty salon Bed and breakfast Bookkeeping Boutique Bowling alley Carpet cleaning Car wash Catering Cattle farming Charity Cleaning Coffee shop Computer repair Construction Consulting Convenience-store Cupcake Daycare Dental Dog daycare Ecommerce Electrical Embroidery Engineering Farm Fashion Film Financial advisor Fitness center Flower-shop Food Food truck Franchise Frozen yogurt Furniture store Gas station Goat farming Grocery store Gym Hairdressing Hair salon Ice cream Insurance agency Interior design Internet Internet cafe IT Jewelry Landscaping Laundromat Laundry Law firm Magazine Manufacturing Microbrewery Motel-hotel Music Nightclub Nonprofit Nursery Online-retail Photography Pizza Plumbing Poultry farming Preschool Printing Private investigator Pub Real-estate Resort Restaurant Retail School Security company Service Software Spa Sports-bar Startup Supermarket Travel agency Trucking Vegetable-farming Website

Here's a Sample 'Executive Summary' for a Convenience Store Business plan:

Introduction: As a direct result of the ongoing South Dakota oil boom, the state's economy is booming as well, with the lowest state jobless rate in the country of 3.6% in July, and recent jobs gains that completely offset all of the jobs lost during the recession, bringing South Dakota's employment to a record high in July of 373,500. With this type of job growth there is a record amount of people moving into the state of South Dakota. The increase in population the opportunity to create a Dollar Store is immensely great. As new people move in and new neighborhoods are being, created people will need the grocery stores to feed their families. Even with low unemployment, people are still looking to save much of their income and a dollar store will offer those potential customers the savings they are looking for.
  
The Company: [COMPANY NAME] is a start-up retail that will be franchisee of the Dollar Store Inc. The Dollar Store provides interesting merchandise options at bargain prices. The Dollarstore, Inc. is one of the few Dollar Store franchisers that owns and operates a corporate store. Being a volume distributor Dollar Store passes on the best price to its franchisees. Dollar Store, Inc. is committed to providing the assistance you need to tap into your share of this growing market. Our name alone wins you a following of loyal customers who count on the Dollar Store to provide the products and service they need for their daily use. The Dollar Store is the only corporation, which provides everything you need to run a Dollar store.

Our Services: Dollar Store sells a variety of quality discount merchandise. The types of merchandise we will carry will include items such as dishware, household goods, toys, cosmetics, candy, greeting cards, and a list of items too exhaustive to list here. A dedicated staff is committed to providing excellent customer service. The merchandise is purchased from a variety of well-known manufacturers such as Procter & Gamble, General Mills, American Greetings as well as a number of other generic branded companies. Shipments arrive on a daily basis. We will continue to find new product lines that can be added to our inventory. We are able to sell products at very low prices, because we will purchase items from discontinued lines, seconds, over runs, etc., that cannot be sold to a manufacturer's usual retail customers.

The Market: The Dollar and Variety Stores industry has capitalized on the recession, with more consumers turning to its stores for deep discounts. Over the next five years, dollar and variety stores are expected to continue performing well by targeting low-income households and thrifty customers.

Financial Considerations: [COMPANY NAME] is seeking grant funds in the amount of $363,000. This business plan and all the financial data is based on [NAME] and [NAME] receiving these grant fund The Dollarstore inc. Franchising offers a host of benefits no other business opportunity can match:

  • Immediate product and brand recognition
  • Established distribution channels
  • Store Operation System (POS)

The major focus for grant funding is as follows:

  • Marketing/advertising fees for designing our grand opening.
  • Purchase Inventory
  • Hire additional personal
  • Legal fees for corporate organization filings
  • Secure building
  • 100% woman owned business

1.1 Objectives

The primary objectives of [COMPANY NAME] are:
1. To provide a wide range of merchandise at reasonable prices.
2. To achieve a healthy profit margin within the first year.
3. To achieve a modest net profit by year two.
4. To bean active and vocal member of the community.

1.2 Mission

[COMPANY NAME] provides a variety of interesting merchandise options at bargain prices. Dedicated to customer service [COMPANY NAME] will give its patrons the kind of service that is respectful and prompt. Employees of [COMPANY NAME] will also be treated in a professional manner with a rewarding work environment and fair compensation. [COMPANY NAME] wants each customer to feel as though he/she has gotten Fifth Avenue treatment at a bargain price.

1.3 Keys to Success

  • To succeed in this business we must:
  • Sell a broad range of products.
  • Provide for the satisfaction of 100% of our customers.
  • Be an active member of the community.
  • Encourage customer input.

[COMPANY NAME] sells products and provides excellent customer service for the public. They have located a space that they will lease for a retail store, which will be use to market and merchandise the stores products. [COMPANY NAME] is formed as a sole prop and formed in November of 2010 by [NAME] and [NAME].

2.1 Company Ownership

[NAME] and [NAME] are both 50% partners in [COMPANY NAME].

2.2 Start-up Summary

 

[COMPANY NAME] will be established in the State of South Dakota in the fourth quarter of 2010. The Company estimates starting operations and receiving grant funding in the amount of $363,000 first quarter 2011.

Start-up expenses are from incorporation to start of operations in the amount of $202,500 including legal fees, initial advertising campaign and operating costs for the first three-month period. Additionally, the Company will need a start-up inventory of $125,000 and working capital of $35,000

Table: Start-up

 

Start-up

 

 

 

Requirements

 

 

 

Start-up Expenses

 

Legal

$5,000

Stationery etc.

$12,500

Insurance

$20,000

Rent

$75,000

Computer

$5,000

Building renovations

$50,000

Equipment

$25,000

Marketing

$10,000

Total Start-up Expenses

$202,500

 

 

Start-up Assets

 

Cash Required

$35,500

Start-up Inventory

$125,000

Other Current Assets

$0

Long-term Assets

$0

Total Assets

$160,000

 

 

Total Requirements

$363,000

[COMPANY NAME] sells a variety of quality discount merchandise. The types of merchandise we will carry will include items such as dishware, household goods, toys, cosmetics, candy, greeting cards, and a list of items too exhaustive to list here. A dedicated staff is committed to providing excellent customer service.
The merchandise is purchased from a variety of well-known manufacturers such as Procter & Gamble, General Mills, American Greetings as well as a number of other generic branded companies. Shipments arrive on a daily basis. They will continue to find new product lines that can be added to our inventory. [BUSINESS NAME] is able to sell products at very low prices, because they will purchase items from discontinued lines, seconds, over runs, etc., that cannot be sold to a manufacturer's usual retail customers.

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