HOW TO START A GAS /CONVENIENCE STORE BUSINESS?

Published: 03rd August 2010
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NCCS defines convenience store as " a retail business with primary emphasis placed on providing the public a convenient location to quickly purchase from a wide array of consumable products, like food, and Gasoline and services.

Every city and town and Nearly every corner in the country has some kind t of smaller Gas station , convenience store. These convenience stores help to fill the distance in a shopping travel or help people who are on their way to other places . However, to begin a convenience stores requires information and knowledge of what people want and need and location where they might need it.

The meaning of convenience store denotes the idea that you are providing convenience to your customers. this need is to be in a location that is convenient. You may to do a survey in your local area to see where people might be concentrated . Search and Look for at the local businesses as well as traffic patterns in the area. Where are most people driving and where might you be able to place in your business. And while you want to be in the most popular areas, Think of your business as you were visiting - where would you actually stop?

Places near main road and close to highways is suppose to be more success. This is because more customers are riding in these areas and in generally need to stop at some point or another. You might also want to set up a small gas station as a part of your convenience store to really get your profits up .



Another good idea is to find out the kinds of products that you may want to sell. You may want to sell necessary and basic goods that everyone uses. Some items like - milk, bread, some medications - are always going to be necessary for people. If you're in a large tourist area, you might also want to supply in store maps and small souvenirs. A large variety of beverages and snack foods

will also be useful tea and coffee. You will also want to carry items that people might need at the last minute. like cold cases of beverages and ice...come in handy when someone is having a last minute party and gathering. Also, carry things for automobile repair - oil and fuses, for example. Car Window wiper fluid and scrapers are also good items for colder weather., Batteries and camera film are also good items to carry. You Might to price your items little higher if you're in a place where customers do not have a choice for another convenience store, Try to mark up slightly lower than the local gas stations and more than local supermarket.



To be successful, find suppliers or venders who sell merchandise with very low prices , it will attract customers and sometimes other retailers to buy from you with very low price . this type of thinking and planning ahead of time that make will make a successful . Other tips are as follow.



GENERAL INFORMATION:

- Looking at a C-store, , look at 4- primary profit centers in a convenience store including typical sale, margins , and cash flows.

- Considering petroleum supply agreement , find out how long does it have remaining.

- With all due respect, rule of thumb pricing for a gas / Convenience store can confusing....

Need to know gasoline supply agreements and margin that the operate it



ADVANTAGES:

- Recession proof business

- Cash business , high gross profit.

- Easy to operate, customer demand if in a good location.-

- This is a cash generation business and you can turn your inventory into cash rapidly with zero or minimum accounts receivable with no collection problems and bad debts.



DISADVANTAGES:

- Employee turnover is high .

- It is hard to find good employees.

- Long hours work.

- Employees theft can be problem without good inventory control in place.

- Health issues, high rent cost , and Inventory control.

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