sample business plan for a convenience store

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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Convenience Store Business Plan

A convenience store can become a brilliant source of primary or secondary income if you do it right.

Also, the main benefit of a convenience store over a supermarket is that it is located around the corner of residential areas and faces lesser competition from retail giants.

And if you bring your unique touch to the business, who knows, you might have a chain as big as 7-Eleven. But for that, you’ll need a convenience store business plan.

A business plan helps you stand apart from your competitors and prepares you for challenges and opportunities alike.

Industry Overview

The convenience store industry generated a whopping amount of 532.9 billion dollars in 2020 and continues to grow at a rapid pace moving forward, too.

As convenience stores provide access to a variety of things including packaged food, fresh groceries, and on-the-go meals, they are highly preferred amongst the office-going audience who are always running short of time.

Convenience stores are also a great option for people who have less time to shop and want to avoid spending long hours looking for stuff in a supermarket.

All these factors would contribute majorly towards the growth and expansion of convenience stores in the future.

But as the market is competitive, you’ll have to do something that makes your store stand out.

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Things to Consider Before Writing Your Convenience Store Business Plan

Pick a legal structure.

The legal structure for your business not only decides the amount you’ll pay in taxes, but it also decides how much paperwork you’ll have to go through, if you’ll require legal help or not, what would be the liability on your assets, and so on.

Hence, you should take your time and pick a legal structure that fits your business.

Get the necessary permits

Several legal documents can help you avoid unnecessary legal hassles and carry out your business with ease. Several such documents can also help you avail yourself of tax and government benefits.

Hence, it is always a good practice to make a list of all the permits you’ll need and to get all of them before getting started.

Choose the right location

The location can make or break a convenience store business. The accessibility and convenience your store provides to your target audience help your business thrive and succeed.

Hence, you should make sure that you choose a good location for your business .

Offer something that helps your store stand out

As the convenience store business is quite competitive, your business must offer something that helps you stand apart from others who offer a similar product.

From taking inspiration from East Asian 7-elevens that offer microwaves and tables to eat food to offering vegan alternatives of snacks, you can choose from a wide variety of things to help your business stand out.

But make sure that it is something that your target audience prefers.

Chalking out Your Business Plan

If you are planning to start a new grocery or convenience store , the first thing you will need is a business plan. Use our sample business plan created using Upmetrics business plan software to start writing your business plan in no time.

Before you start writing a business plan for your new convenience store, spend as much time as you can reading through some samples of the grocery or convenience store business plans.

Reading some sample business plans will give you a good idea of what you’re aiming for. Also, it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.

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

Convenience Store Business Plan Outline

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

• Keys to Success
• Past Performance
• Products and services
• Industry Analysis
• Market Analysis
• Target Market Segment Strategy
• Competition and Buying Patterns
• Website Marketing Strategy
• Development Requirements
• SWOT Analysis
• Competitive Edge
• Marketing Strategy
• Sales Forecast
• Personnel Plan
• Important Assumptions
• Break-even Analysis
• Projected Profit and Loss
• Projected Cash Flow
• Projected Balance Sheet
• Business Ratios
• Profit and Loss
• Balance Sheet

After getting started with Upmetrics , you can copy this sample convenience store business plan into your business plan and modify the required information and download your convenience store business plan pdf or doc file. It’s the fastest and easiest way to start writing your business plan.

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

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

Download a sample convenience store business plan

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

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

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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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Here is a free business plan sample for a convenience store.

Have you been toying with the idea of opening a convenience store but feel overwhelmed about where to start?

Look no further, as we're about to guide you through a comprehensive business plan tailored for a convenience store.

Creating a robust business plan is a crucial step for any aspiring entrepreneur. It serves as a roadmap, outlining your vision, objectives, and the strategies you'll employ to turn your retail dream into a thriving reality.

To streamline your planning process, take advantage of our convenience store business plan template. Our team is also on standby to provide a free review and fine-tuning to ensure your plan is on point.

How to draft a great business plan for your convenience store?

A good business plan for a convenience store must be tailored to the unique aspects of retail operations and customer convenience.

To start, a comprehensive market overview is crucial. This should include current statistics and an examination of emerging trends in the retail sector, as illustrated in our convenience store business plan template .

Your business plan should articulate your vision clearly. Define your target market (such as neighborhood residents, commuters, students), and establish your store's distinctive appeal (24/7 operation, product variety, local products, etc.).

Market analysis is the next critical component. This requires a thorough understanding of the local competitive landscape, consumer buying habits, and the specific demands of the area your store will serve.

For a convenience store, it's important to detail the range of products you will carry. This includes everyday essentials, snacks, beverages, and any niche products that cater to local preferences or gaps in the market.

The operational plan is vital. It should outline the store's location, layout, inventory management, supplier relationships, and logistics.

Given the nature of a convenience store, factors such as product turnover, shelf life, and inventory management are particularly important.

Then, delve into your marketing and sales strategies. How do you plan to attract customers and encourage repeat business? Discuss promotional tactics, loyalty programs, and potential ancillary services (like ATM, lottery tickets, or bill payment services).

Incorporating digital strategies, such as an online presence or delivery options, can also be a significant advantage.

The financial section is a cornerstone of the plan. It should cover startup costs, revenue projections, operating expenses, and the point at which the business will become profitable.

Convenience store margins can be tight, so precise financial planning and understanding your cash flow is essential. For assistance, refer to our financial forecast for a convenience store .

Compared to other business plans, a convenience store plan must address specific factors like extended operating hours, the need for robust security measures, and the management of a diverse product inventory.

A well-crafted business plan will not only help you clarify your strategy and operations but also attract investors or secure loans.

Lenders and investors are looking for detailed market analysis, sound financial projections, and a clear operational strategy for managing a convenience store.

By presenting a thorough and substantiated plan, you show your dedication to the success of your enterprise.

To achieve these goals while saving time, you can fill out our convenience store business plan template .

A free example of business plan for a convenience store

Here, we will provide a concise and illustrative example of a business plan for a specific project.

This example aims to provide an overview of the essential components of a business plan. It is important to note that this version is only a summary. As it stands, this business plan is not sufficiently developed to support a profitability strategy or convince a bank to provide financing.

To be effective, the business plan should be significantly more detailed, including up-to-date market data, more persuasive arguments, a thorough market study, a three-year action plan, as well as detailed financial tables such as a projected income statement, projected balance sheet, cash flow budget, and break-even analysis.

All these elements have been thoroughly included by our experts in the business plan template they have designed for a convenience store .

Here, we will follow the same structure as in our business plan template.

Market Opportunity

Market overview and statistics.

The convenience store industry is a vital part of the retail landscape, offering quick and easy access to a variety of products.

As of recent data, the global convenience store market is valued at over 1 trillion dollars, with projections indicating continued growth. This is driven by the fast-paced lifestyle of consumers who seek immediate access to goods.

In the United States alone, there are over 150,000 convenience stores, accounting for significant revenue in the retail sector. These stores are integral to daily life, providing essential items to millions of customers.

The robust presence of convenience stores underscores their importance in the retail industry and their substantial contribution to the economy.

Industry Trends

The convenience store sector is witnessing several key trends that are shaping its future.

Healthier options are becoming more prevalent, with stores increasing their offerings of fresh fruit, salads, and health-oriented snacks to cater to health-conscious consumers.

Technology is playing a major role, with the rise of contactless payments, self-checkout kiosks, and sophisticated inventory management systems that streamline operations.

Convenience stores are also expanding their services to include postal, banking, and foodservice options, transforming them into community hubs.

Additionally, the integration of e-commerce and home delivery services is becoming more common, as stores adapt to the digital preferences of consumers.

Environmental sustainability is another focus, with stores implementing eco-friendly practices, such as reducing plastic usage and offering more sustainable product choices.

These trends highlight the industry's adaptability and its commitment to meeting the evolving needs of modern consumers.

Key Success Factors

Several factors contribute to the success of a convenience store.

Location is paramount; stores situated in high-traffic areas or close to residential neighborhoods tend to perform better due to increased accessibility for customers.

A diverse product mix that caters to the immediate needs of customers, including a range of food, beverages, household items, and personal care products, is essential for attracting a broad customer base.

Extended hours of operation are also a significant advantage, as they offer customers flexibility and convenience around the clock.

Customer service is crucial, with friendly and efficient staff enhancing the shopping experience and encouraging repeat visits.

Lastly, effective supply chain management and cost control are vital for maintaining profitability and competitive pricing in a market with thin margins.

By focusing on these key areas, a convenience store can thrive and maintain a loyal customer base in a competitive retail environment.

The Project

Project presentation.

Our convenience store project is designed to serve the needs of a busy, health-conscious community. Strategically located in a high-traffic urban area or near residential complexes, this store will offer a diverse range of products including organic, vegan, and gluten-free options. The inventory will include everyday essentials, snacks, beverages, fresh produce, and household items, all curated to provide a one-stop shopping experience.

We will emphasize the convenience of shopping by offering extended hours, self-checkout options, and a user-friendly layout to ensure a quick and efficient shopping experience.

Our convenience store aims to be more than just a place to buy goods—it will be a community hub that understands and caters to the unique needs of its customers, providing a tailored shopping experience.

Value Proposition

The value proposition of our convenience store is centered on providing a carefully selected assortment of products that cater to the health and convenience needs of our customers. We offer a unique blend of traditional convenience items alongside healthier, specialty options not commonly found in typical convenience stores.

Our commitment to quality, variety, and accessibility ensures that our customers can find what they need quickly and easily, making their daily routines more manageable. We aim to exceed expectations by offering exceptional customer service and a pleasant shopping environment.

By focusing on the needs of our community, we strive to establish our store as a reliable and indispensable resource for our customers' busy lives.

Project Owner

The project owner is an entrepreneur with a keen insight into the evolving retail landscape and the changing needs of consumers. With a background in retail management and a passion for customer service, they are dedicated to creating a convenience store that stands out for its commitment to providing a diverse range of products and services.

Understanding the importance of convenience and health in today's fast-paced world, the owner is determined to offer a shopping experience that aligns with the values and schedules of the store's clientele.

Driven by a vision of community engagement and a dedication to adaptability, the owner is the driving force behind this project, aiming to create a convenience store that becomes an essential part of the local community's daily life.

The Market Study

Market segments.

The market segments for this convenience store are diverse and cater to a wide range of customer needs.

Firstly, there are local residents who require easy access to everyday items such as groceries, personal care products, and household essentials.

Secondly, commuters and workers in the area who need quick grab-and-go options like snacks, beverages, and ready-to-eat meals.

Additionally, the market includes individuals seeking specialty products that may not be available in larger supermarkets, such as niche snacks, local goods, and international items.

Lastly, the store can attract a segment of health-conscious consumers by offering a selection of organic, natural, and health-oriented products.

SWOT Analysis

A SWOT analysis of this convenience store project highlights several key factors.

Strengths include a strategic location, extended operating hours, and a wide variety of products that cater to immediate consumer needs.

Weaknesses might involve limited space for inventory, competition with larger retail chains, and the challenge of maintaining product freshness.

Opportunities could arise from offering unique services such as lottery tickets, postal services, or bill payment options, as well as from the potential to partner with local businesses for exclusive product offerings.

Threats include the rise of online shopping, potential economic downturns affecting consumer spending, and the constant need to adapt to changing consumer preferences.

Competitor Analysis

Competitor analysis in the convenience store sector indicates a highly competitive environment.

Direct competitors include other local convenience stores, supermarkets, and gas stations with attached retail outlets.

These competitors vie for customer loyalty by offering convenience, competitive pricing, and a range of products.

Potential competitive advantages for our store include personalized customer service, a curated selection of products, and loyalty programs.

Understanding the strengths and weaknesses of competitors is crucial for carving out a niche in the market and ensuring customer retention.

Competitive Advantages

Our convenience store's competitive edge lies in our commitment to providing a personalized shopping experience.

We offer a carefully selected assortment of products, including fresh, locally-sourced items and unique international goods that are not readily available elsewhere.

Our focus on customer convenience is exemplified by our extended hours of operation, quick checkout processes, and additional services like utility payments and mobile top-ups.

We also prioritize customer engagement through community events and promotions, fostering a sense of loyalty and community around our brand.

You can also read our articles about: - the customer segments of a convenience store - the competition study for a convenience store

The Strategy

Development plan.

Our three-year development plan for the convenience store is designed to establish a strong foothold in the community.

In the first year, our goal is to build a loyal customer base by offering a wide range of products that cater to everyday needs, with a focus on convenience and competitive pricing.

The second year will be geared towards expanding our product lines, including the introduction of fresh food options and locally sourced items to differentiate ourselves from competitors.

In the third year, we aim to leverage technology by introducing a mobile app for easy shopping and to explore the possibility of a second location to increase our market reach.

Throughout this period, we will prioritize customer service, store cleanliness, and an efficient shopping experience to ensure customer retention and store growth.

Business Model Canvas

The Business Model Canvas for our convenience store targets a broad customer segment, including local residents, commuters, and passersby seeking quick and easy access to a variety of products.

Our value proposition is centered on providing a convenient shopping experience, with a diverse product range and extended operating hours.

We will conduct sales through our physical storefront and potentially an online platform, utilizing key resources such as our strategic location, inventory management system, and dedicated staff.

Key activities include inventory stocking, sales operations, and customer service.

Our revenue streams will be generated from the sale of convenience goods, while our costs will be associated with inventory procurement, staffing, and operational expenses.

Find a complete and editable real Business Model Canvas in our business plan template .

Marketing Strategy

Our marketing strategy is focused on positioning our convenience store as the go-to place for quick and easy shopping solutions.

We plan to engage with the community through local events, sponsorships, and partnerships with other businesses.

Our promotional efforts will include loyalty programs, weekly specials, and targeted advertising in local media and online platforms.

We will also utilize social media to connect with customers, share promotions, and gather feedback to continuously improve our offerings.

Risk Policy

The risk policy for our convenience store includes measures to mitigate operational, financial, and security risks.

We will implement strict inventory control to prevent stockouts and overstocking, and we will ensure that all employees are trained in loss prevention techniques.

Financial risks will be managed through careful budgeting and cash flow monitoring. Security systems will be in place to protect against theft and ensure the safety of both customers and staff.

We will also carry comprehensive insurance to protect against unforeseen events and liabilities.

Why Our Project is Viable

We believe that our convenience store project is viable due to the constant demand for quick and accessible shopping options.

Our commitment to providing a wide range of products, extended hours, and exceptional customer service positions us to become a staple in the local community.

We are adaptable and ready to evolve with changing consumer trends to ensure the long-term success of our convenience store.

We are enthusiastic about the opportunity to serve our community and are confident in the potential of our convenience store to thrive in a competitive market.

You can also read our articles about: - the Business Model Canvas of a convenience store - the marketing strategy for a convenience store

The Financial Plan

Of course, the text presented below is far from sufficient to serve as a solid and credible financial analysis for a bank or potential investor. They expect specific numbers, financial statements, and charts demonstrating the profitability of your project.

All these elements are available in our business plan template for a convenience store and our financial plan for a convenience store .

Initial expenses for our convenience store include leasing a retail space in a strategic location, outfitting the store with shelving, refrigeration units, and point-of-sale systems, acquiring initial inventory across various product categories such as groceries, personal care items, and household goods, obtaining necessary licenses and permits, and investing in security systems to prevent theft. Additionally, costs will be allocated for branding, signage, and promotional activities to attract customers to our new establishment.

Our revenue assumptions are based on a comprehensive market analysis of the local community's needs for convenient shopping options, taking into account factors such as population density, competition, and consumer purchasing behavior.

We expect sales to grow steadily as we establish our store's reputation for offering a wide range of products, competitive pricing, and excellent customer service.

The projected income statement outlines expected revenues from product sales, cost of goods sold (including supplier prices and delivery costs), and operating expenses (rent, utilities, marketing, employee wages, etc.).

This results in a forecasted net profit that is essential for assessing the long-term viability of our convenience store.

The projected balance sheet will display assets such as inventory, fixtures, and cash on hand, as well as liabilities like loans and accounts payable.

It will provide a snapshot of the financial position of our convenience store at the end of each fiscal period.

Our projected cash flow statement will detail the cash inflows from sales and cash outflows for expenses and inventory purchases, enabling us to predict our financial needs and maintain adequate cash reserves.

The projected financing plan will identify the mix of equity and debt financing we intend to use to fund our startup costs and initial operations.

The working capital requirement for our convenience store will be carefully managed to ensure we can sustain day-to-day activities, such as restocking inventory, covering overheads, and meeting payroll obligations.

The break-even analysis will determine the sales volume required to cover all our costs, signaling when our store will start generating profits.

Key performance indicators we will monitor include the inventory turnover rate to measure the efficiency of our stock management, the gross margin ratio to evaluate our pricing strategy and cost control, and the return on investment to gauge the profitability of the capital invested in our convenience store.

These metrics will be instrumental in assessing the financial performance and overall success of our convenience store.

If you want to know more about the financial analysis of this type of activity, please read our article about the financial plan for a convenience store .

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How to write a business plan for a convenience store?

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

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

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

Let's get started!

In this guide:

Why write a business plan for a convenience store?

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

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

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

To have a clear roadmap to grow the business

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

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

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

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

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

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

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

To get visibility on future cash flows

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

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

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

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

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

To secure financing

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

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

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

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

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

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

Need a convincing business plan?

The Business Plan Shop makes it easy to create a financial forecast to assess the potential profitability of your projects, and write a business plan that’ll wow investors.

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

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

Carrying out market research for a convenience store

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

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

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

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

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

Developing the sales and marketing plan for a convenience store

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

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

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

The staffing and equipment needs of a convenience store

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

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

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

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

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

What goes into your convenience store's financial forecast?

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

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

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

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

The projected P&L statement

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

Ideally, your reader will want to see:

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

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

The forecasted balance sheet of your convenience store

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

It shows three elements: assets, liabilities and equity:

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

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

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

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

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

The cash flow forecast

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

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

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

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

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

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

The initial financing plan

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

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

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

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

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

Need inspiration for your business plan?

The Business Plan Shop has dozens of business plan templates that you can use to get a clear idea of what a complete business plan looks like.

The written part of a convenience store business plan

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

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

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

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

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

1. The executive summary

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

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

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

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

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

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

2. The presentation of the company

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

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

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

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

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

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

3. The products and services section

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

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

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

4. The market analysis

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

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

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

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

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

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

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

5. The strategy section

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

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

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

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

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

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

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

6. The operations section

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

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

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

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

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

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

7. The presentation of the financial plan

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

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

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

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

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

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

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

There are several advantages to using specialized software:

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

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

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The Business Plan Shop does the maths for you. Simply enter your revenues, costs and investments. Click save and our online tool builds a three-way forecast for you instantly.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Also on The Business Plan Shop

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

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

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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Convenience store business plan template + PDF

This guide introduces a state-of-the-art AI Business Plan Generator template, meticulously designed for entrepreneurs looking to initiate or expand their convenience store operation. It's crucial to highlight that the names and financial projections mentioned in this example are purely illustrative, created to showcase the strategic planning process. These examples are carefully constructed to illustrate how you can tailor your own AI-generated Convenience Store Business Plan to navigate unique obstacles and seize the opportunities within your convenience store endeavor.

For seamless customization, we provide a 'Convenience Store Business Plan PDF' for download. This document is vital for entrepreneurs committed to developing a compelling and effective strategy for launching or growing their convenience store. The 'AI Business Plan Generator' serves as a comprehensive resource, offering profound insights into the convenience store sector. It equips you with the essential tools for efficiently operating and expanding your convenience store business.

How this convenience store business plan sample was created

Create your tailored convenience store business plan effortlessly with our AI Business Plan Generator. Simply click 'Generate your business plan' and follow a series of targeted questions about your convenience store venture. Our advanced AI technology will analyze your inputs to craft a business plan that perfectly matches your convenience store's goals and needs. This streamlined and quick process usually completes in just 5-10 minutes, producing a detailed and well-organized plan. Our platform offers the ability to customize and refine your plan, ensuring it precisely reflects your unique vision for your convenience store. Upon completion, your plan is available for download, providing a clear and concise roadmap for launching and expanding your convenience store. Leverage our AI business plan generator, specially designed for convenience store enterprises, to enhance your strategic planning.

Generate your custom convenience store business plan in minutes!

Convenience store business plan sample, executive summary, business description, market research and analysis, swot analysis.

• Organizational Structure and Management Team

Products or Services

Marketing and sales strategy, operations plan, financial projections, risk analysis.

QuickStop Convenience Store, strategically nestled in the heart of Austin, Texas, embodies the simplicity and efficiency of modern convenience retail. Dedicated to providing an extensive range of products and services tailored to the fast-paced lifestyles of its patrons, QuickStop takes pride in its ability to offer quick and convenient solutions with a personalized touch. This Executive Summary encapsulates the essential components of our business plan, delineating the direction and future aspirations of QuickStop.

Our vibrant retail establishment caters to a diverse demographic, including a mix of local residents, commuting professionals, and transient customers seeking expedited purchasing experiences. This blend of consumers is central to our business model, which revolves around a comprehensive product assortment that includes snacks, beverages, tobacco products, lottery tickets, basic groceries, household items, and more. Supplementing our product offerings, QuickStop also provides value-added services such as ATM access, bill payments, mobile phone top-ups, and postage services, emphasizing the multifaceted nature of our operations.

QuickStop thrives amidst formidable competitors in the sector, such as national chains like 7-Eleven and Circle K, along with local entities CityMart Express and Neighborhood Mini Market. While these rivals bring brand recognition and widespread presence, QuickStop's differentiation lies in our commitment to community-centric engagement, premium customer service, and notably, adaptability—keys to winning the hearts and patronage of our customers.

Operating as a Limited Liability Company, QuickStop is steered by a robust management team with extensive industry-specific expertise. Samantha Lee, our General Manager, steers strategic planning with over a decade of experience in the sector. Operations Manager Alex Johnson guarantees efficiency in daily activities, while CFO Maria Gonzalez oversees our financial health. Additionally, Marketing Director David Singh is on the frontline, pioneering growth through innovative campaigns, and HR Manager Emily Wang ensures we have the best talent concentrated on delivering outstanding service.

Our marketing and sales strategy is multifaceted and deeply integrated with community engagement. We leverage social media, loyalty programs, and SEO to drive traffic while maintaining a firm pulse on seasonal trends and local alliances. Flyers and local ad spaces further solidify our footing in the Austin market.

At QuickStop, the operational workflow is fine-tuned to precision, maintaining meticulous quality control and inventory management protocols to ensure excellence at every transaction. Our supplier relationships, particularly with FreshGoods Inc. and SnackHaven Distributors, are strategically crafted to support a responsive and reliable inventory replenishment system.

Financially, QuickStop is positioned for prosperity, with sales forecasted to rise from $500,000 in the first year to $700,000 by year five. With projected net profits increasing from $50,000 to $120,000 over the same period, our robust business model anticipates sustainable growth. The financial projections are rooted in conservative estimations and lay out a roadmap for the financial trajectory of our enterprise.

However, we are cognizant of the challenges that lie ahead. Our risk analysis identifies potential market fluctuations, operational hurdles, and financial unknowns that could inhibit progress. To combat these, we have formulated comprehensive mitigation strategies and contingency plans, ensuring QuickStop remains resilient.

To conclude, QuickStop Convenience Store is positioned as a burgeoning business with a clear vision. Through a combination of strategic managerial oversight, customer-centric operational tactics, and a strong financial foundation, we are ready to carve a niche in the convenience store industry. QuickStop is not just a store but a hub for Austin's community—a testament to our dedication to delivering convenience and quality, day in and day out.

QuickStop Convenience Store is strategically situated in the bustling neighborhood of Austin, Texas, offering local residents and commuters a one-stop shop for their daily essentials. Our enterprise falls under the vibrant convenience store industry—a sector known for providing quick access to a range of everyday items along with additional services to cater to the fast-paced lives of consumers. This sector thrives on strategic locations, extended hours of operation, and a variety of products catering to immediate needs.

The inception of QuickStop Convenience Store was driven by a recognition of the opportunity within the community for timely and efficient access to goods and services that cater to various needs throughout the day. Established in 2018, QuickStop was founded with the purpose of providing residents with a friendly, neighborhood convenience store that not only offers a wide range of products but does so with exceptional customer service that makes every transaction feel personal and valued. Over the years, QuickStop has become a trusted name in the area, exhibiting steady growth and an expanding array of offerings.

Our mission is to be the leading local convenience store that consistently meets the daily needs of our customers with speed, convenience, and friendly service. We aim to offer a diverse range of high-quality products and supplementary services that make life easier and more enjoyable for our customers. We believe that convenience should not come at the cost of experience, which is why we strive to ensure that every customer leaves our store satisfied.

QuickStop Convenience Store operates as a Limited Liability Company (LLC), ensuring a flexible business structure that shields its members from personal liability while allowing for the efficient management and distribution of profits. This legal structure is pivotal as it aligns with our goals of growth and adaptability, providing the protections and framework necessary for long-term sustainability and scalability.

Looking at the long-term potential of QuickStop Convenience Store, we are poised to become a cornerstone establishment in our local area and potentially in neighborhoods beyond. The convenience store industry is exceptionally robust and continues to expand as the modern consumer seeks more accessible and immediate solutions for their purchasing needs. With a focus on expanding product lines, integrating technology for better service provision, and maintaining a connection with the community, QuickStop is situated perfectly to capitalize on existing market trends.

Our long-term objectives include deepening our understanding of customer preferences through engagement and feedback systems. We aim to leverage this information to tailor our inventory and services specifically to the evolving needs of our customer base. In addition, the potential introduction of private label goods and e-commerce components also presents opportunities for growth. Innovation in product offerings and accessibility, such as the adoption of online ordering and delivery services, stands as a promising avenue for QuickStop's expansion and increased market share.

By maintaining vigilance on industry trends and customer demands, QuickStop Convenience Store is committed to proactive growth and continuous improvement in all aspects of our operations. We believe that with our customer-centric approach, adaptive business model, and dedication to a high-quality shopping experience, QuickStop will not only remain relevant but thrive as a leading convenience store in our community and beyond into the future.

The convenience store industry is a major segment of the retail sector characterized by its capability to meet the immediate daily needs of consumers seeking quick, convenient shopping experiences. This industry includes establishments that primarily retail a range of merchandise like snacks, beverages, tobacco, and grocery items without the depth of assortment typically found in supermarkets. The industry is witnessing a rise in demand for healthier snacks, ready-to-eat meals, and specialty beverages. Notably, there is an increasing integration of technology for streamlining in-store operations and enhancing customer experiences through self-checkout systems and digital loyalty programs.

As of recent analysis, the industry holds a significant market size with an annual growth rate averaging approximately 2-3% over the past five years. This growth is being sustained by consumers' growing preference for quick service and the rising trend of small basket shopping. The industry is expected to maintain its growth, propelled by economic stability and the continuous need for convenient shopping options.

The target market for QuickStop Convenience Store encompasses local residents and commuters within the vicinity, ranging in age from 18 to 55 years old, which forms a diverse demographic spectrum including students, professionals, and blue-collar workers. The local consumer base is estimated at around 25,000 individuals with a growth potential pegged to community expansion and urban development plans. These consumers exhibit a need for on-the-go products, with convenience playing a pivotal role in their purchasing habits.

Market demands are primarily driven by the increasing pace of life that leaves less time for traditional shopping experiences. Consumers are leaning heavily towards grab-and-go foods, quality coffee offerings, and accessible essential items for unplanned or last-minute needs. An emerging market trend is a preference for local and artisan products, which suggests consumers are becoming more discerning and value-driven in their quick purchase decisions.

Patterns in the industry underscore the importance of location, store layout, and product mix. Recent trends indicate a significant upswing in the sale of premium snack items and organic products. Moreover, there is a notable shift towards digital and mobile payment methods with increased consumer expectations for payment convenience and transaction speed.

Our direct competitors include high-profile national chains such as 7-Eleven and Circle K, which boast extensive networks and economies of scale, providing them with notable strengths including brand recognition and a broad product range with competitive pricing. Their weaknesses often lie in a perceived lack of personalized service and less focus on local product offerings. Other competitors include smaller local enterprises like CityMart Express and Neighborhood Mini Market, whose strengths are their community-focused positioning and agility. Yet, their weaknesses can be in the form of limited marketing resources and lesser-known brands. Market share among competitors is generally driven by location advantage, product variety, and price competitiveness.

QuickStop Convenience Store must navigate potential barriers upon entry, which include high start-up costs associated with securing prime retail locations and the establishment of a robust supply chain. Additionally, stiff competition from established chains, adherence to regulatory requirements, and the need for effective marketing strategies to compete with well-known brands are hurdles to overcome. Overcoming these barriers requires diligent market analysis, strategic partnerships, astute financial planning, and the development of a strong local brand identity to differentiate ourselves from larger chains while aligning our offerings to the needs and demands of our target market.

Organizational Structure and Management

The organizational structure of QuickStop Convenience Store is designed to ensure both operational efficiency and customer service excellence. The store operates with a clear and functional hierarchy, reflected in an organizational chart which outlines roles from management to frontline employees. At the top of this hierarchy is the General Manager, who oversees all operations and reports to the LLC members. Beneath the General Manager are the Operations Manager, Chief Financial Officer, Marketing Director, and HR Manager. These managers lead their respective departments and are supported by assistant managers, clerks, and staff who handle day-to-day operations.

The management team comprises highly skilled professionals with robust backgrounds in retail and business management. Samantha Lee, serving as the General Manager, holds a Bachelor of Business Administration and brings over ten years of retail management experience. She is responsible for the overall performance of the store, leading strategic planning, and ensuring that business objectives are met. Alex Johnson, the Operations Manager, has a Diploma in Retail Management and seven years of experience in convenience store operations. His responsibilities include overseeing the day-to-day running of the store operations, inventory management, and ensuring that all functions are carried out efficiently.

Maria Gonzalez acts as the Chief Financial Officer, a Certified Public Accountant with five years of experience in financial planning and analysis specifically in the retail sector. She manages QuickStop's finances, including budgeting, accounting, and financial reporting. The Marketing Director, David Singh, with a Master’s in Marketing and eight years of experience, is tasked with handling the store's marketing efforts, branding, and customer outreach to drive sales and build brand loyalty. Emily Wang, the HR Manager with a Bachelor's in Human Resources and a certified PHR, is responsible for human resources management, including recruitment, training, and compliance with labor laws.

Currently, the store is staffed by two full-time managers, eight clerks who work in shifts to provide constant coverage during store hours, and two part-time staff for the weekends and peak times. As the business grows, QuickStop will require additional clerks and possibly another assistant manager to maintain the desired level of customer service and handle increased operational workload.

Human resources policies at QuickStop Convenience Store prioritize fair employment practices, employee development, and a positive work environment. The store follows an equal opportunity employment policy, provides comprehensive training programs, and offers competitive wages and benefits to attract and retain high-quality staff. QuickStop ensures compliance with all employment laws and emphasizes the importance of health and safety in the workplace. Acknowledging the critical role of employees in the store’s success, regular performance reviews and feedback sessions are conducted to foster professional growth and job satisfaction.

The company also engages external advisors and consultants for specialized advisory when needed. A local retail business consultant assists with optimizing store layout and product placement strategies. An accounting firm is retained for annual audits and complex tax matters, and a legal firm advises on compliance, licensing, and corporate governance issues. These relationships guarantee that QuickStop maintains high standards and updated industry practices in all its operations.

In conclusion, QuickStop Convenience Store's organizational structure and management are thoughtfully designed to ensure the business operates efficiently, responds adeptly to market demand, and lays a solid foundation for future growth. With a clear hierarchy, a strong management team, a plan for staffing needs, and systems for human resource management, QuickStop is well-equipped to achieve its strategic goals and serve the community effectively.

QuickStop Convenience Store offers a diverse range of products and services meticulously tailored to meet the basic and instant needs of our customers. Our product portfolio includes an assortment of snacks such as chips, candies, and chocolates, various types of beverages including sodas, juices, and energy drinks, and a selection of alcoholic drinks, where permitted by licensing laws. We stock basic grocery items like bread, milk, and eggs, alongside household necessities such as cleaning supplies, toiletries, and over-the-counter medications. For customers seeking immediate gratification, we provide ready-to-eat foods like hot dogs, sandwiches, and pastries. Additional services include lottery ticket sales, an ATM, bill payment options, mobile phone top-ups, and the availability of postage stamps, all catering to the convenience of our customers.

Our unique selling points center on providing a one-stop-shop experience with quick and seamless transactions. In contrast to larger supermarkets, QuickStop offers a more personal shopping encounter with the convenience of avoiding long lines, making it an ideal spot for quick in-and-out shopping. The competitive advantage lies in our extended hours of operation, catering to early birds and night owls alike when most other retailers are closed.

Currently, QuickStop is in the operational and expansion phase. We plan to continually assess and evolve our product offerings based on consumer trends and feedback, ensuring that we meet and exceed our customers' expectations. Future plans involve the potential introduction of organic and locally-sourced products to meet growing demand for health-oriented and community support-focused offerings. The development of a QuickStop branded line of products is also being considered to enhance customer loyalty and promote a unique store identity.

In terms of intellectual property, QuickStop utilizes trade dress protection for the distinctive design and appearance of our store interiors. Additionally, should we embark on creating our own branded products, we will pursue the necessary trademark registrations to protect our brand and proprietary items securely.

Our production process for proprietary ready-to-eat foods involves strict adherence to health and safety regulations, with all food items prepared fresh daily using quality ingredients. The process is designed for efficiency, ensuring that customers always have access to freshly made snacks and meals. Non-food items arrive pre-packaged from our variety of suppliers and are stocked promptly on our shelves for immediate sale.

Supplier relationships are a critical component of QuickStop’s operational model. We partner with a blend of local producers and national distributors to ensure a steady supply of inventory. FreshGoods Inc. is our primary supplier for perishable grocery items due to their commitment to freshness and prompt delivery services. SnackHaven Distributors is our key partner for snack products, offering a wide range and competitive wholesale pricing. We also work closely with several local bakeries and food producers to source our ready-to-eat items, ensuring that we support local businesses while providing our customers with the highest quality foods.

Overall, QuickStop Convenience Store’s current product and service offerings are aligned with market needs, with plans in place to expand and innovate as customer preferences evolve. Our relationship with suppliers ensures a consistent supply of high-quality products, and our store remains dedicated to maintaining the exceptional service that our customers have come to expect. The pursuit of distinctive products and the development of a proprietary line will further establish QuickStop as a leader in the convenience store sector.

QuickStop Convenience Store's marketing and sales strategies are devised to attract and retain a loyal customer base while maximizing revenues and market share within the Austin neighborhood and its surrounding areas. Our approach is multifaceted, encompassing targeted advertising, strategic sales initiatives, competitive pricing, and excellent customer service.

Our marketing strategy utilizes a combination of traditional and digital media to reach a broad spectrum of customers. We leverage the power of social media platforms such as Facebook and Instagram to create targeted campaigns that resonate with our demographic. Local search engine optimization (SEO) is crucial in ensuring that QuickStop appears prominently in search results when potential customers are looking for convenience store options nearby. Our presence on Google Maps and other navigational apps is optimized for maximum visibility, facilitating ease of access for mobile users on the go.

To amplify brand awareness, local community events sponsorship and participation are part of our outreach efforts. This not only enhances our reputation as a community-oriented business but also allows us to network directly with potential customers in less formal settings. In-store marketing employs clear signage for promotions and utilizes point-of-sale displays to encourage impulse buys. Seasonal promotions and discounts create buzz and increase foot traffic during peak shopping seasons.

Our sales strategy focuses on providing a seamless, quick transaction experience. This is supported by a well-trained sales team knowledgeable about the product range and able to rapidly assist customers in finding items, providing product information, and answering queries. Employees are trained to upsell when opportunity arises, such as suggesting complementary products. We also conduct periodic sales training to ensure our team is adept at handling various customer scenarios and up-to-date with new promotions.

The pricing strategy at QuickStop Convenience Store entails maintaining competitive pricing while offering exceptional value. We conduct regular competitive analyses to ensure our prices are in line with market expectations without compromising profitability. Promotional pricing and bundle deals are employed to increase sales volume, particularly for high-margin items or overstocked products.

Distribution channels include in-store purchasing as the primary channel, but we are exploring the introduction of an online ordering system with local delivery options, aligning with the trend towards e-commerce. This augmentation of our distribution strategy would appeal to tech-savvy customers and those with mobility constraints.

Promotion and advertising efforts are carefully planned throughout the year. We allocate budget for social media advertising, distribute flyers in local high traffic areas, and place ads in community publications. Strategic in-store promotional campaigns, such as "deal of the day" or "happy hour discounts," incentivize repeat visits. Moreover, we plan to introduce a loyalty program that rewards frequent customers with discounts and exclusive offers, encouraging regular patronage.

Customer service is paramount at QuickStop, and our policies reflect a commitment to exceed customer expectations. Staff are empowered to address and resolve customer complaints promptly and efficiently. We also implement a satisfaction guarantee on our house-prepared food items to ensure customers feel confident in their purchases. Feedback is actively solicited through in-store and online channels, demonstrating our dedication to listening to and acting upon the input of our clientele.

In sum, QuickStop Convenience Store’s comprehensive marketing and sales strategy, encompassing targeted advertising, competitive pricing, expanded distribution, robust promotions, and uncompromising customer service, is designed to foster growth by attracting new customers, retaining existing ones, and ensuring all receive the convenient and pleasant shopping experience they value.

The Operations Plan of QuickStop Convenience Store outlines the essential processes and systems in place that allow us to provide consistent, high-quality service and products to our customers. Our operational workflow is designed for efficiency, ensuring that daily business activities from opening to closing are executed effectively to meet customer demand.

Daily operations commence before sunrise with our opening team preparing the store for the day. This includes stocking shelves, ensuring cleanliness throughout the store, and preparing fresh food items for our ready-to-eat section. Throughout the day, clerks engage in customer service, manage checkouts, restock items as necessary, and maintain the overall appearance and safety of the store. Our closing team conducts end-of-day cleaning, accounts for inventory, and prepares the store for the following day.

The service delivery process is expedited by clearly defined roles and responsibilities. For food items, we follow a standard process that includes the selection of quality ingredients, adherence to food safety standards during preparation, packaging, and compliance with expiration management. Non-food items are received from suppliers, logged into our inventory system, and promptly placed on the shelves or designated storage areas.

Quality control measures are vital to our operation. We have established protocols to regularly inspect the quality of products received and monitor the freshness of items on the shelves. Food preparation areas are subject to daily sanitation audits, and employees must complete regular food handling and safety training. Customer feedback is also an essential part of our quality control as it provides firsthand insight into their experience and the quality they perceive.

Inventory management is streamlined through the use of an automated tracking system. This system enables us to monitor sales patterns and stock levels effectively, ensuring optimal inventory turnover and minimizing waste. Automatic reordering thresholds are set for high turnover items, and a bi-weekly review of inventory is conducted to adjust ordering according to demand fluctuations and seasonal variations.

Regarding supply chain management, QuickStop maintains strong relationships with a mix of local and national suppliers to ensure a continuous supply of products. We have negotiated terms that allow for flexible ordering, taking into consideration the lead times and delivery schedules to prevent stockouts. Our approach includes regular evaluations of supplier performance, ensuring that they meet our standards for timely delivery and product quality.

QuickStop’s facilities maintain a layout designed for convenience and speed of service, with a flow that naturally guides customers through the store. The equipment needs are continuously assessed, ensuring that all machinery, such as cash registers, refrigeration units, and food preparation equipment, are functioning efficiently. The store is equipped with surveillance systems for security purposes and positioned to provide coverage across the store, both indoors and outdoors. The facility also features storage areas strategically located to maintain organization and accessibility for employees restocking inventory.

Our operation plan exists as a living document, hyper-aware of the changing needs of the business and our customers. As QuickStop Convenience Store grows, we are prepared to upscale our operations, incorporate technology such as self-checkout machines, and refine our processes to ensure that we not only meet but exceed market demands and customer expectations. The agility and dedication embedded in our operations plan underscore our commitment to offering outstanding convenience, service, and product availability.

The Financial Projections section of QuickStop Convenience Store's business plan illustrates our expectation of financial performance over the next three to five years, outlining a detailed forecast that includes sales, profit and loss, cash flow, balance sheet, and a breakeven analysis. These projections are based on historical data, current market dynamics, competitive landscape, and projected growth of the convenience store industry.

Sales Forecast:

Over the next five years, we anticipate consistent growth in sales driven by the introduction of new product lines, the implementation of marketing strategies, and expanding customer base. Our sales forecast is as follows:

- Year 1: $500,000 - Year 2: $550,000 - Year 3: $600,000 - Year 4: $650,000 - Year 5: $700,000

This growth trajectory takes into account the increasing average transaction size and the expected rise in foot traffic due to local population growth and enhanced store visibility.

Profit and Loss Projection:

Our projected profit and loss accounts for direct costs of goods sold, operating expenses such as wages, utilities, insurance, marketing, and administrative expenses. Net profit is expected to improve as sales increase and optimized operational efficiencies take effect:

- Year 1: Net Profit of $50,000 - Year 2: Net Profit of $65,000 - Year 3: Net Profit of $80,000 - Year 4: Net Profit of $100,000 - Year 5: Net Profit of $120,000

The profit margin is anticipated to grow gradually as brand recognition strengthens and customer loyalty increases.

Cash Flow Projection:

Our cash flow projections indicate that the store will maintain adequate liquidity to sustain operations and fund growth initiatives. Initial capital investments and a business line of credit serve as buffers for managing inventory and covering any unforeseen costs. Positive net cash flows are projected by the first year end:

- Year 1: Net Cash Flow of $20,000 - Year 2: Net Cash Flow of $30,000 - Year 3: Net Cash Flow of $50,000 - Year 4: Net Cash Flow of $70,000 - Year 5: Net Cash Flow of $90,000

Balance Sheet Projection:

Assets are expected to grow along with the business, including increases in inventory and potential capital investments into store fixtures and technology. Liabilities, largely comprising accounts payable and the line of credit, will be managed prudently to maintain a healthy debt-to-equity ratio.

Break-even Analysis:

The breakeven point, where total revenue equals total expenses, is projected to occur within the first year of operation. We anticipate annual fixed costs to be approximately $450,000, with a forecasted average margin of about 30%. This margin will result in a breakeven sales level of around $480,000, which we expect to exceed within the first year, confirming the viability of QuickStop Convenience Store.

Financial Assumptions and Considerations:

The financial projections are based on several assumptions:

- A steady inflation rate not exceeding 2.5% per annum. - Consistent consumer spending within the convenience store sector. - No significant economic downturn affecting local consumer spending habits. - An increase in sales following the introduction of loyalty programs and marketing efforts.

Considerations also include potential market disruptions and competitive actions which may necessitate adjustments to our pricing or product offerings. Investment in marketing and store enhancements may increase expenses in the short term but are expected to generate long-term gains. Additionally, we will allocate funds to reserve for unforeseen events to ensure financial stability.

Together, these financial projections and underlying assumptions are employed to manage expectations, steer strategic decisions, and secure the financial health and growth prospects of QuickStop Convenience Store.

The success of QuickStop Convenience Store is contingent upon effective identification and management of potential risks that could impact our operations. Our risk analysis considers various uncertainties across market, operational, and financial domains, and outlines prudent measures to mitigate these risks and contingency plans to address potential adverse scenarios.

Identification of Potential Risks:

Market Risks:

- Economic Downturns: A decline in the economy can reduce consumer spending and affect sales volume. - Competition: New entrants or more aggressive strategies from existing competitors could erode our market share. - Technological Disruption: A failure to keep pace with retail technology could lead to a competitive disadvantage. - Changes in Consumer Preferences: An inability to adapt to changing tastes and preferences can result in lost sales.

Operational Risks:

- Supply Chain Disruptions: Unforeseen events such as natural disasters or global pandemics could interrupt our supply chain. - Employee Turnover: High levels of staff turnover can lead to increased costs and a decline in service quality. - Equipment Failure: Malfunctions or breakdowns can disrupt store operations. - Security Breaches: Theft, shoplifting, and cyberattacks pose risks to assets and information.

Financial Risks:

- Cash Flow Shortages: Insufficient liquidity could hamper the business’s ability to meet its obligations. - Cost Overruns: Unexpected increases in operational costs could affect profitability. - Interest Rate Fluctuations: Changes in interest rates could increase the cost of borrowing.

Risk Mitigation Strategies:

To mitigate market risks, we implement thorough market research to stay ahead of trends. We conduct regular competitive analysis to adjust our strategies promptly. Aggressive marketing and loyalty programs are used to retain existing customers and attract new ones.

Operational risks are circumvented through a robust supply chain featuring multiple suppliers to prevent bottlenecks, fostering a positive workplace to retain employees, maintaining equipment regularly, and employing stringent security measures, including surveillance systems and employee training on loss prevention.

Financial risks are mitigated by maintaining a strict budget, monitoring cash flow projections closely, and managing a cash reserve for emergencies. To buffer against interest rate changes, we seek to lock in favorable rates for any required loans.

Contingency Plans:

Our contingency plans are designed to ensure business continuity under various adverse scenarios:

- Economic Downturns: We plan to increase promotions and introduce budget-friendly product lines to maintain sales volume. - Competition: Continual service and product enhancements and diversification to stay competitive. - Supply Chain Disruptions: Alternative local suppliers and stockpiling of non-perishable high-turnover items will be used to manage supply risks. - Employee Turnover: Cross-training employees and maintaining an active pool of qualified candidates to fill vacancies rapidly.

Insurance and Legal Considerations:

Insurance protection forms a critical part of risk management. QuickStop Convenience Store maintains comprehensive insurance coverage, including general liability, property insurance, workers' compensation, business interruption insurance, and cyber liability insurance to protect against a range of potential threats. Additionally, we ensure all business activities comply with federal, state, and local laws—particularly those concerning licensing for food and alcohol sales, employment practices, and health and safety regulations.

In summary, by identifying risks across various spectrums and setting mitigation and contingency measures, QuickStop Convenience Store not only prepares to handle challenges but also positions itself to adapt and thrive even under difficult circumstances. Legal compliance and appropriate insurance safeguards further shield the business from unforeseen liabilities, fortifying its resilience in the face of risks.

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Convenience Store Business Plan

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Do you need a Convenience Store Business Plan Template? This plan includes all the details and information needed to secure funding for a convenience store.

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Convenience Store Business Plan Template

Prepared for:

​ [Client.FirstName] [Client.LastName] ​

Prepared by:

​ [Sender.FirstName] [Sender.LastName] ​

1. Executive Summary

​ [Sender.Store] is a convenience store located in [Sender.City] [Sender.State] . It aims to serve various schools, residential areas, and commercial offices by fulfilling basic needs such as groceries, pre-cooked items, milkshakes, magazines, and newspapers.

Besides, [Sender.Store] will offer a home delivery option on every order received from customer calls. The customers can choose a delivery date and time at their convenience.

Products Offered:

A detailed list of products on offer

Customer Focus:

List of categories of customers that the store may serve

For example: [Sender.Store] shall serve the following people living within the city:

Married people

Professional people

School-going kids

Management Team:

​ [Sender.Store] is led by [Sender.FirstName] [Sender.LastName] , who had a family running the retail business for many years. The owner has extensive store experience and a degree in (Degree.Name) to look after the business side professionally.

Besides the owner, the retail store also plans to hire a manager with a degree in (Degree.Name) and (years) of experience.

Success Factors:

​ [Sender.Store] qualifies to succeed due to reasons such as (Mention reasons, for instance, location, experience, services, and availability of products)

Financial Highlights:

​ [Sender.Store] plans to seek $ (Amount) to launch the convenience store. The capital shall be used to hire employees, build the store, and cover marketing expenses.

(Prepare a chart on projections of revenue, expenses, and net income for the next three years)

2. Company Overview

​ [Sender.Store] Introduction: (Write a detailed overview of the store and its objectives)

​ [Sender.Store] History: (Mention its history, if any)

​ [Sender.Store] Products and Services: ( Mention all products and services in detail with their subcategories)

3. Industry Analysis

Over the past six years, the convenience store industry

Has welcomed a lot of competition, with each competitor providing great value to its customers.

Industry operators have focused on fulfilling the demands of consumers by providing fresh goods on time and meeting the health requirements of people.

More people spend money on convenience stores to get their hands on the best home products every year.

The increase in high foot traffic in residential areas is also one reason for the convenience store industry's growth.

4. Customer Analysis

Target market’s demographic profile:.

​ [Sender.Store] shall serve commuters, residents, and employees around the (location) . Here is a table of estimated people currently found in the specified area.

(Table with various categories of people and stats)

Customer Segmentation:

Our store aims to serve the following segments primarily:

Local Office Workers

Students Commuters

(Continue the list with more segments)

5. Competitive Analysis

Here is a list of some top competitors of [Sender.Store] ​

(Competitor 1)

(Competitor 2)

(Competitor 3)

Competitive Advantage:

​ [Sender.Store] has many advantages over its competitors. These are:

(Location of the store)

(Service at an affordable price)

(Management)

(Relationships and experience)

6. Marketing Plan

The [sender.store] brand:.

The store wishes to focus on the following unique value propositions:

Personal attention

Convenient location

Friendly customer service

Promotion Strategy:

The [Sender.Store] expects to run the following promotional strategies for its business.

Local Publications (Explain how)

Community Events (Explain the events)

Commuter Advertising

Customer Loyalty Programs (Explain)

7. Operations Plan

Functional roles:.

​ [Sender.Store] is expected to stay open (Hours) in a day. Moreover, it expects to hire (Number) of employees for roles such as:

Stock and inventory managers

Maintenance team

Delivery team

The store also needs to hire an administrative team for

Training staff

Storing and sourcing products

General functions such as bookkeeping

8. Management Team

The [Sender.Store] shall be run by the founder (Founder.FirstName) (Founder.LastName) with an experience of (Number) of years. (Founder.FirstName) (Founder.LastName) plans to serve as the store manager who shall be in the store for (Hours) daily.

The working shifts of the other workers and their numbers shall be as follows:

Inventory manager: ( Number of full-time and part-time personnel)

Cashiers: ( Number of full-time and part-time personnel)

Delivery team: ( Number of full-time and part-time personnel)

Maintenance team: ( Number of full-time and part-time personnel)

9. Financial Plan

Revenue and cost drivers:.

The [Sender.Store] will earn its profits primarily from selling items. However, the profits earned shall be affected by certain cost drivers such as:

Cost of goods sold

Ongoing expenses on marketing

Requirement of Capital:

​ [Sender.Store] wants to seek funding of $ (Amount) to launch the store. The capital will be used to fund any capital expenditures, build the store, marketing expenses, hire the initial employees and spend on working capital.

The estimated breakup of the funds shall be as follows:

Store build/design: $ (Amount)

Working capital: $ (Amount)

Here are the financial statements projecting cash flows, profits, and losses for the next three years.

Profit and Loss Accounts

Balance Sheets

Cashflow Statements

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Convenience Store Business Plan Template [Updated 2024]

Convenience Store Business Plan

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

The following sample business plan and template gives you the key elements to include in a winning business plan. It can be used to create a convenience store start up business plan or a plan to grow your existing business.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of a successful convenience store business plan. Once you create your plan, download it to PDF to show banks and investors.

I. Executive Summary II. Company Overview III. Industry Analysis IV. Customer Analysis V. Competitive Analysis VI. Marketing Plan VII. Operations Plan VIII. Management Team IX. Financial Plan

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Convenience Store Business Plan Home I. Executive Summary II. Company Overview III. Industry Analysis IV. Customer Analysis V. Competitive Analysis VI. Marketing Plan VII. Operations Plan VIII. Management Team IX. Financial Plan

Convenience Store Business Plan Template

Convenience store company analysis.

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

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

• Traditional Convenience Store : the traditional convenience store is about 2,400 to 2,500 square feet in size and offer a product mix which includes dairy, bakery, snack foods, beverages, tobacco, grocery, health and beauty aids, confectionery, and perhaps prepared foods to go, fresh or frozen meats, gasoline, various services, and limited produce items. Most stores of this size have 6 to 12 striped parking spaces or some form of convenient pedestrian access. Hours are extended compared to average retailers with a large percentage open 24 hours per day.
• Mini Convenience Store : this type of convenience store is usually 800 to 1,200 square feet in size. Grocery selection and foodservice (beyond prepared sandwiches) is usually very thin. Open hours usually range from 18 to 24 hours.
• Limited Selection Convenience Store : this type of convenience store ranges from 1,500 to 2,200 square feet. They differ from the “mini convenience store” in a broader product mix and grocery offering (although still somewhat limited by traditional convenience store standards). Also, simple foodservice (hot dogs, nachos, popcorn, etc.) may be offered.
• Expanded Convenience Store : this type of convenience store is in the 2,800 to 3,600 square feet range. Such stores can accommodate more shelving for additional grocery products or room for significant fast food operations and seating.
• Hyper Convenience Store : this type of convenience store is very large (4k to 5k square feet), and usually offers an array of products and services arranged in departments. For example, such stores may offer variations such as a bakery, a sit-down restaurant area, or a pharmacy. Many of these locations do sell gasoline. The number of employees per shift can be large, particularly if a small restaurant is present. The number of parking spaces is substantial, especially since the amount of time the average customer spends in such an establishment can be significant.
• Kiosk : this type of convenience store is less than 800 square feet and is intended to provide some additional revenue beyond gasoline sales. Gasoline is always the focus of this operation with the owner usually being an oil company or petroleum marketer. The store sells only the fast-moving items found in traditional convenience stores (tobacco, beverages, snacks, and confectioneries).

In addition to explaining the type of convenience store business you operate, the Company Analysis section of your business plan needs to provide background on the business.

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.

CONVENIENCE STORE BUSINESS PLAN OUTLINE

• Convenience Store Business Plan Home
• 1. Executive Summary
• 2. Company Overview
• 3. Industry Analysis
• 4. Customer Analysis
• 5. Competitive Analysis
• 6. Marketing Plan
• 7. Operations Plan
• 8. Management Team
• 9. Financial Plan
• 10. Appendix
• Convenience Store Business Plan Summary

Other Helpful Business Plan Articles & Templates

Convenience Store Business Plan

Planning to start your own convenience store business? You need a business plan first. Gone are the days when you can just start a business at any time you want as long as you have cash. The market has become too saturated that businesses come and go at a very fast rate. Investors are now very reluctant to pour their hard-earned investments in short-term deals as they are fearful they might not get enough earnings.

• Food Truck Business Plan Examples – PDF
• Bookkeeping Business Plan Examples – PDF

That is the reason why business plans are important when you start a business. It provides investors as well as other stakeholders necessary information about the company and its numerous activities. To help you create your own convenience store business plan, here are some examples (in PDF) you can use as reference. They are easy to download and they are all free as well.

Convenience Store Business Plan Example

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Summary Convenience Store Business Plan Example

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Easy Convenience Store Business Plan Example

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Market Data Convenience Store Business Plan Example

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Grocery Convenience Store Business Plan Example

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How to Create a Business Plan

Listed below are some tips in creating a business plan. Take note that the tips provided below are not meant for a convenience store business plan only but for other types of business plan as well.

Even if you plan on starting a single proprietorship, you still need a couple of hands to help you out in establishing your business. That is why getting a team is important so that they don’t only help you create a business plan but also assist you in handling daily business operations.

You may or may not consider them as future business partners, so you need to clarify with them specific roles they will be handling. But if you already have a team in place, then there should be little to no problems in creating the business plan. Your team can either be composed of a combination of friends, relatives, business colleagues, or even individuals of whom you don’t have any previous relationships with but want to start a business with you.

Do research

Research has shown that the main reason why businesses fail is due to the lack of research. Take note that research is not only conducted at the beginning but a continuous process for the business to achieve long-term sustainability. Nevertheless, research is still important when the business is still being established, specifically in the creation of a business plan.

There are numerous research methods you can use especially when you will be using respondents as the main data for your business plan. Interviews (phone, email, personal), questionnaires, observations, and focus groups are among the data gathering methods you can use to gather data from respondents.

But if your research does not need respondents and is strictly focused on theories, then all you basically need are research materials. Research materials pertain to books, journals, publications, and online sources. Never assume anything in your business plan, as every information you provide should be backed up by facts and established data. Creating assumptions will only cause negative results for your eventual business and you will greatly suffer from heavy financial losses.

Focus on marketing and finance

A business plan has two main sections: marketing and finance. Marketing focuses on the creation of the product and how the product will be sold in the market while finance focuses on the earning capabilities of the business. That is the reason why marketing and finance have their own separate sections in the business plan.

Marketing is probably the most important aspect of any business as it involves the creation and distribution of the product. Marketing does not only involve advertising and promotion, but the latter is still important in making sure people are aware of that kind of product or service being sold in the market. Marketing is also involved with the creation of the product, not starting with the raw materials that are needed to be purchased, but starting with a plan on how that specific product will benefit a certain market segment.

In terms of finance, this relates to how the product can result to revenues and profits. There are numerous financial analysis methods that companies use to create revenue and profit forecasts. Using these methods may not be 100% accurate, but they provide a necessary blueprint for all forms of financial data the company will eventually be undergoing.

Most companies create a five-year financial analysis which covers all the costs the company will be incurring as well as the revenue and profit streams. The reason for this is to mainly provide data for investors as their decision to invest or not will depend on the stated financial analysis. Of course, they don’t only want to retrieve the initial amount they invested but also the interest that comes with it.

Consult with industry experts

Research is not the only method in creating an effective business plan. Consulting with industry experts is another way to make sure you incorporate the right data and information in the business plan. Industry experts are individuals who have achieved success in their respective industry or fields (i.e., entrepreneurship, technology, sales and marketing, finance, etc.).

Take note that industry experts may or may not provide you with confidential information, as they may be using the said information for their own purposes. But whatever information they provide, it will be highly useful when you will be establishing your own business.

Customizable Convenience Store Business Plan Example

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Minimal Convenience Store Business Plan Example

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Coffee Convenience Store Business Plan Example

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What Products to Sell in a Convenience Store

A convenience store is basically a mini-supermarket. But you can’t pick up each and every item and sell them in your convenience store, in this case you might as well open your own supermarket. To help you narrow down the items you can sell in the convenience store, here are some products you should definitely sell.

Soft drinks, fruit juices, water

The liquids are grouped together by soft drinks, fruit juices, and water. These are the most important items to sell in a convenience store and this should be on the top of your priority list when buying supplies (although you may want to stock up more on water compared to soft drinks and fruit juices).

According to research, water and soft drinks are the most profitable items in a convenience store. These items can easily rake in large profits for your business, so make sure to get a deal with wholesalers so that you can get at least a week worth of supplies.

Healthy snacks

Convenience stores are not known to sell healthy snacks, but major convenience store chains such as 7-Eleven, Lawson, and Mini Stop started to change that trend. They have incorporated sandwiches and low-calorie meals and have proven to be a big hit among customers. You should implement this in your own convenience store as well.

The only problem when it comes to selling healthy snacks is the storage. These kinds of food are usually perishable, so you need a proper storage system so that these foods will still be editable even if it’s stored for more than a few hours. You can make your own snacks or find individual sellers and arrange a deal so that you can sell their food for a higher price. Take note when you will be making and selling your own snacks, you have to take account of the overhead costs when making these food items.

A convenience store is never complete without junk foods. Even if healthy foods are being sold, people will still go for the ever so popular chips, chocolates, and other processed food. You can also consider soft drinks as junk food.

Similar to soft drinks and water, junk foods are one of the most salable items in a convenience store. They are sold by the hundreds every day and people just keep on buying them. You can go for local junk foods or purchase imported ones. 

Bath essentials

Convenience stores do not only center around food and drinks. Most convenience stores also sell bath (and laundry essentials). These products include soap, toothbrush, toothpaste, shampoo, conditioner, lotion, feminine wash, and laundry detergent, to name a few.

Bath essentials have also been a staple in convenience stores because they provide convenience to customers who are looking at other alternatives aside from the supermarket. Additionally, individuals most likely forgot to purchase these items at the supermarket so they turn to convenience stores instead. So, it is the responsibility of the convenience store to provide these items to customers.

School supplies

Aside from bath essentials, school supplies are also the non-food products that are sold in a convenience store. School supplies are targeted mostly at students and individuals who are working for an academic institution. Similar to bath essentials, school supplies are sold to individuals who are looking at another venue to purchase these items. The reasons might involve the person forgetting to purchase the product in a store or the person just wanting to purchase the product in a location that is more convenient to him or her.

Until only recently, convenience stores have also started selling medicine (prescription and non-prescription). Business owners have created an idea to merge a pharmacy and a convenience store into one business. And the result is a pharmacy-convenience store industry which has promisingly become very profitable.

Setting up a pharmacy together with a convenience store is much more difficult since there are numerous licenses and requirements that need to be accomplished first before the business can open. Additionally, employees also need to be registered pharmacists as this is a requirement by most countries in regards to people working in a pharmacy.

Medicines are not a requirement to be sold in a convenience store. Even non-prescription medicines are still very salable and they are not as expensive as the prescription ones.

Most Popular Convenience Stores Around the World

US-based 7-Eleven is the largest convenience store in the world. The store currently has over 8,600 stores in North America and around 43,500 stores throughout Latin America, Europe, Asia, and Australia.

FamilyMart is one of the most popular convenience stores in Asia. It was founded in Japan and operations quickly expanded to China, Taiwan, Vietnam, the Philippines, and recently in the US.

This Indonesia-based convenience store has over 3,000 stores across Jakarta, Bali, Sumatra, and Sulawesi.

Tesco Express

Tesco Express is the biggest convenience store in the United Kingdom. Tesco currently operates 6,500 stores around the world.

Ministop is another Japan-based convenience store which has proven to be very successful outside its home soil. It currently has stores in the Philippines, Korea, Vietnam, and Indonesia.

CBA is the Eastern Europe equivalent of 7-Eleven. Founded 1992 in Hungary, CBA currently boasts 5,000 stores across Romania, Serbia, Bulgaria, Slovakia, Croatia, and Poland.

Matrix Convenience Store Business Plan Example

Convenience Store Expenses Business Plan Example

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We hope you found this article to be informative as well helpful when you will be creating your own convenience store business plan.

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Biden admin hits Sheetz convenience store chain with lawsuit, despite campaign stop

A Pennsylvania-based convenience store chain was hit with a lawsuit by the Biden administration at the same time the president stopped by one of their locations on the campaign trail.

Sheetz is being accused of racial discrimination by the Equal Employment Opportunity Commission (EEOC). THE EEOC claims that the company's hiring practices discriminated against minority applicants, as reported by the Associated Press.

The lawsuit was filed the same day Biden cheerfully stopped by a Pittsburgh location on Wednesday for food. Former President Trump stopped by a New York City bodega the day before.

Specifically, the EEOC argues that Sheetz's criminal background checks were discriminatory because of how its system weeded out applicants who were believed to have failed the checks. The EEOC said that this disproportionately impacted Native American, Black and multiracial jobseekers.

BIDEN'S TAX-HIKE PLAN WOULD COST THE US ECONOMY NEARLY 800K JOBS

Though the lawsuit does not allege that the discrimination was purposeful, it nonetheless claims that Sheetz violated the law. For example, 14.5% of Black applicants had allegedly been denied employment due to a failed background check, while fewer than 8% of white applicants were denied employment for the same reason, as reported by The Associated Press.

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"Federal law mandates that employment practices causing a disparate impact because of race or other protected classifications must be shown by the employer to be necessary to ensure the safe and efficient performance of the particular jobs at issue," EEOC attorney Debra M. Lawrence said in a statement to The Associated Press.

TRUMP-ERA TAX CUTS POISED TO EXPIRE SOON, MEANING YOU COULD FACE STEEPER TAXES

"Even when such necessity is proven, the practice remains unlawful if there is an alternative practice available that is comparably effective in achieving the employer’s goals but causes less discriminatory effect," Lawrence added.

In a statement on Thursday, Sheetz said that it "does not tolerate discrimination of any kind."

"Diversity and inclusion are essential parts of who we are. We take these allegations seriously," spokesperson Nick Ruffner said, as reported by The Associated Press. "We have attempted to work with the EEOC for nearly eight years to find common ground and resolve this dispute."

Original article source: Biden admin hits Sheetz convenience store chain with lawsuit, despite campaign stop

What is a MoSCoW Analysis? Definition, Use Guide, and Analysis

By Paul VanZandt

Published on: July 26, 2023

Table of Contents

What is a Moscow Analysis?

Moscow analysis use guide, how to do a moscow analysis.

Prioritization and organization are two essential elements in creating a successful project and are also things that are inherently harder to achieve online. While prioritizing elements can be hard online, it doesn’t have to be. The Moscow analysis is a great tool for teams to collaborate on through online whiteboards and has takeaways that are applicable to a variety of different projects and teams.

In this article, we will define the Moscow analysis and talk about what makes it so helpful to teams everywhere. If you are interested in reading some of our other template guides, you can check out our most recent guides on design thinking and using a business model canvas here.

A Moscow analysis , also known as Moscow prioritization, is defined as an organizational framework that helps clarify and prioritize features or requirements for a given project. By creating boundaries for the priorities, teams are able to narrow their focus and create direct and achievable goals.

Moscow is an acronym that stands for the four categories that various features can be sorted into. These categories are: Must have, Should have, Could have, and Won’t have These four categories determine the prioritization of the corresponding features and are a marker of their importance to the overall success and continuity of the project.

• Must-haves: These are the essential requirements that must be included in the project or product. If any of these requirements are not met, the project or product cannot be considered successful.
• Should-haves: These are important requirements that should be included if possible. They are not absolutely critical but add significant value to the project or product.
• Could-haves: These are requirements that are nice to have, but they are not critical. They can be considered if time and resources allow but can be deferred if necessary.
• Won’t-haves: These are requirements that are explicitly out of scope for the current project or product. These requirements are not currently under consideration.

While the Moscow analysis is most often used to organize a project and its required elements, it can also be used in other scenarios . For example, Moscow prioritization can be applied to better align a team with its values and expectations. It can also be used to prioritize takeaways and next steps from an important meeting. Its main goal is the help visualize the prioritization of the tasks at hand.

These use cases demonstrate the flexibility of the Moscow prioritization to break down important requirements into simple prioritized areas, whether it be for team expectations or a project sprint.

As previously stated, the Moscow analysis consists of four major elements. These categories are explained below alongside some questions to guide what should be included in each category. For the sake of simplicity, we will use a project prioritization for reference.

This section is where you think about the core features that are necessary to the success of the project. Must have features are things that, if absent, would compromise the project as a whole. Without these features, the project would have an entirely different function and wouldn’t serve the intended purpose.

Must have features, while being the most important things to consider, should not account for every detail that will be present in the final version. The features in must have, should have, and could have should all be major considerations to be included in the project, so try and be very specific with the features you add in each section.

Some prompting questions to ask in this section could be:

• What features are absolutely essential and cannot be replaced?
• If removed, would the project achieve the same purpose?
• Will the delivery of the project be a success without this feature?

Should Have

Should have is where the project begins to become more nuanced in its prioritization. Should have features include those that are supplemental to the must have features, things customers have vocalized interest in, and other features that would make meaningful additions to the project.

Should have features should be thought of as just a step below must have. These features, while important, could be pushed to a later release while the must have features are absolutely essential. Without these things, the project will still work, but it will be better with them.

Some prompting questions to ask in this section could be;

• How does this feature compare to the must have features? What about the could have features?
• What is a helpful but not required feature?
• How would the project function if this feature is omitted?

Could have features are often misunderstood and get lumped with random possible additions. This section is meant to highlight features that you want to include but aren’t sure if they will be possible.

Could have features are even a step lower on the prioritization of should have features due to either time or substantive restraints. These are features that would be nice additions, but might not directly impact the core function of the product.

• What would be a useful tool to add that isn’t a priority?
• What is something that you’d like to add in the future?
• How would this feature impact the overall product?

Won’t have is one of the most important sections in the analysis. It defines all of the features and points that specifically will not be included in the project release. This section is critical because it narrows the scope of the project greatly and helps define the boundaries that must be followed to achieve a successful project.

In order to have a helpful won’t have section, you need to plan not only the project you’re working on but future projects and parallel endeavors as well. By thinking about what comes in the future and what exists outside of the current release, you are able to narrow the scope of the current project.

• What features will be purposefully left out of this project?
• What is being avoided or postponed for a future release?
• What features fall outside of this releases specific scope?

Learn more: SWOT Analysis Framework

MOSCOW analysis helps teams make informed decisions about what to prioritize and what can be deferred or excluded, leading to more effective project or product development. Here’s how to perform a MOSCOW analysis:

• Identify Stakeholders: Gather the key stakeholders and decision-makers involved in the project or product development. It’s essential to have a clear understanding of their needs and expectations.
• List Requirements or Features: Make a comprehensive list of all the potential requirements or features that have been proposed for the project or product. This list can come from user stories, feature requests, or other sources.
• Categorize Requirements: For each requirement or feature, categorize it into one of the four MOSCOW categories (Must-have, Should-have, Could-have, or Won’t-have). You can do this collaboratively with the stakeholders, using their input to make informed decisions.
• Prioritize Must-Haves: Focus on the “Must-have” category and ensure that these requirements are prioritized above all else. These are the non-negotiable elements of the project.
• Prioritize Should-Haves: Once the Must-haves are defined, move on to the “Should-have” category and prioritize these based on their relative importance and impact on the project or product.
• Consider Could-Haves: Evaluate the “Could-have” category and decide which of these features or requirements are feasible to include, given the available resources and time.
• Exclude Won’t-Haves: Ensure that the “Won’t-have” category is clearly communicated and understood. These are the features or requirements that will not be addressed in the current project or product.
• Document the Analysis: Record the results of the MOSCOW analysis in a document or spreadsheet so that all stakeholders have a clear understanding of the prioritization decisions.
• Review and Iterate: Periodically review and update the MOSCOW analysis as the project or product evolves. Changes in scope or stakeholder priorities may necessitate adjustments.

Learn more: What is PESTEL Analysis?

Using a Moscow analysis is one of the best ways to improve the alignment of a team and understand the prioritization of the project at hand. While these templates are mainly used for product management, they are extremely versatile and can be applied to many different scenarios .

Hopefully, this guide has been helpful, and if so make sure to check out our other posts around online whiteboards and visual collaboration if you want to learn more about how to interact and collaborate online.

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US prosecutors examining financial transactions at Block, NBC News reports

U.S. prosecutors are examining financial transactions at Block , NBC News reported on Wednesday, citing two people with direct knowledge of the matter.

Man wins $2 million thanks to ‘gut feeling’ to buy lottery ticket at convenience store

SCOTLAND COUNTY, N.C. (Gray News) - A North Carolina man says he had a gut feeling to purchase a lottery ticket and it certainly paid off.

According to the NC Educational Lottery , Donnie Leviner turned a $20 Big Cash Payout ticket into a $2 million payday.

“Something just told me to buy it,” he said.

Leviner, 18, said his intuition told him to buy a few lottery tickets while he stopped at Sneads Grove convenience store in Laurel Hill.

“I initially just went there to fill up the lawn mower,” Leviner said.

The 18-year-old collected his prize money on Monday.

“I was in disbelief,” he said. “I really didn’t think it was true.”

Lottery officials said Leviner’s win was official, and he chose to receive the prize money as a lump sum of $1.2 million.

After required state and federal tax withholdings, he took home $858,006.

Copyright 2024 Gray Media Group, Inc. All rights reserved.

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Young entrepreneurs put maple-flavored sunflower seeds on the map

Bryant university freshman chase whitman sells the homemade seeds from his dorm. he and his business partner plan to expand throughout convenience stores in the northeast..

SMITHFIELD, R.I. — Chase Whitman sells homemade maple sunflower seeds out of the bottom drawer of his dorm dresser at Bryant University.

The young entrepreneur is aiming to land the product on shelves at convenience stores in Smithfield, R.I., and throughout the Northeast.

Whitman and his friend turned business partner, Oliver Pudvar, launched their brand, Chip’s Sunflower Seeds, as high school students at Champlain Valley Union High School in Hinesburg, Vt., in 2022.

Although Pudvar attends Manhattan College and Whitman studies at Bryant, the two have big plans for their seeds to appear in stores up and down the region — they currently sit on shelves at the Shelburne Country Store in Vermont.

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Q: Where did the idea come from?

Whitman: It was 2022, and Ollie and I were both on the baseball team, and we were in the same entrepreneurship class. Our business teacher gave us a project to come up with our own business. So we started our own sunflower seed business. We also took what we had around us, and I noticed that my family was into making maple syrup, so we incorporated all three things into our business project to really start something that we are truly passionate about doing.

Q: Why sunflower seeds?

Whitman: It was funny because we were both on the baseball team but Oliver was the one that played the most. I was mostly sitting on the bench. And what I noticed was that most people around me were spitting sunflower seeds for the whole game. You can look at at the back of a sunflower seed package, and it has, on average, 117 percent of your daily sodium intake. So I thought, why not incorporate maple syrup into the sunflower seeds so it’s a more healthy, low-sodium option to snacking during baseball games.

Q: What does the production process look like?

Pudvar: With how we’ve started, we’ve gotten our sunflower seeds from California from a distributor out there. So we’re not locally sourcing them yet. But then once we get the seeds, we’re roasting the sunflower seeds, we’re flavoring the sunflower seeds, we’re packaging, and we’re doing this really all out of our kitchen right now. But hopefully in the near future, with a couple grants that we just received, we’ll be able to locally source our sunflower seeds in Vermont.

Q: Could you expand on those grants?

Pudvar: So recently, Noah Jensen [chief marketing officer] and I, at Manhattan College, competed in a competition called the Manhattan College Innovation Challenge . This is a challenge for new companies that are starting up, young entrepreneurs, that go into Manhattan to pitch their ideas to CEOs that come and judge the competition. We were able to actually get second in the competition. We also won the audience favorite. We came away with $3,500 out of that, so we’re looking forward to putting that toward the company.

Whitman: Each semester [at Bryant University] we have $5,000 in grant money, and I’ve applied for that. And that’s to specifically cover our packaging. We also requested funding for farmer’s market weekend access in our hometown in Vermont.

Q: What are the future goals for expanding the brand?

Pudvar: What we’re hoping to do is locally source all of our products. So having this all be run in Vermont and then hopefully, at one point we can take our hands off of the project and get into either a manufacturing plant or something along those lines, where we’re not literally having to do every step of the process. And then also trying to get into convenience stores and local grocery stores. With our product being a maple sunflower seed, we think that it can be super popular in the Northeast.

Q: How are your sales?

Whitman: Our biggest seller online is actually our merchandise. And that’s what’s bringing in the most revenue now, because we base ourselves on our own mission of having a “chip on our shoulder.” That’s how we explain it. And that’s just like being the underdogs. And we find that people don’t buy what you do, they buy why you do it.

Q: What type of merchandise do you sell?

Whitman: Right now we’re selling hoodies. That’s our that’s our biggest seller. We’re selling hats and we’re also selling polos, but we want to come out with a new merchandise line that really supports the chip on our shoulder idea.

Alexa Coultoff can be reached at [email protected] . Follow her @alexacoultoff .

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Moscow-City – The Moscow International Business Center

• 3 years ago

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

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

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

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

How It All Began

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

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

What It’s Like in 2021

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

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

• Moscow-City Central Core;
• Tower 2000;
• Evolution Tower;
• Imperia Tower;
• City of Capitals (Moscow Tower and St. Petersburg Tower);
• Steel Peak Tower;
• Federation Tower;
• Mercury City Tower;
• OKO Tower Complex.
• 1 Moscow-City Central Core
• 2 Tower 2000
• 3 Evolution Tower
• 4 Imperia Tower
• 5 Moscow Tower and St. Petersburg Tower
• 6 Steel Peak Tower
• 7 Federation Tower
• 8 Mercury City Tower
• 9 OKO Tower Complex
• 10 Afimall City Shopping Center
• 11 Bagration Bridge
• 12 Expocentre Fairgrounds

Moscow-City Central Core

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

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

Evolution Tower

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

Imperia Tower

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

Moscow Tower and St. Petersburg Tower

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

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

Steel Peak Tower

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

Federation Tower

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

The Federation Tower is a multifunctional complex.

Mercury City Tower

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

OKO Tower Complex

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

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

What Not to Miss

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

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

Afimall City Shopping Center

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

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

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

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

Bagration Bridge

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

Expocentre Fairgrounds

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

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

Renting and Buying Real Estate in Moscow-City

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

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

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

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

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

City of Capitals

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

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

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

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

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

Related posts

Property tax in russia, the best international schools in moscow.

Our Rating of the Best Districts of Moscow for Living In

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