Convenience Store Business Plan

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This simple, professional, and easy-to-use Convenience Store MS Word Business Plan Template allows you to create a Simple Small Business Plan For Convenience Store in an attractive way that can surely persuade your investors. The short business plan outline will merely be an outline with the probability of expansion in the future. Things to see include:
  • Short and Precise Executive Summary emphasizing your action plan
  • Goals of your Business
  • Ultimate consumer-base and your product or service details
  • Short analysis differentiating you from your opponents
  • Sales/Revenue forecasting, Profit & loss analysis, and Balance Sheet analysis
  • Confidential agreement on Bonus/perks to safeguard your ideas and business.


You can fix your brand as specific as you want, including colors, fonts, and graphics.

What you Get in Your Convenience Store Business Plan Package


9 Chapter Business Plan Template in MS Word, Google Docs and MAC Pages
Pitch Deck Template in PowerPoint, Keynote & Google Slides
5 Year Financial Model Template in MS Excel, Google Sheets and MAC Numbers
Financial Dashboard Template in MS Excel, Google Sheets and MAC Numbers
Business Model Canvas Template in MS Excel, Google Sheets and MAC Numbers
SWOT Analysis Template in MS Excel, Google Sheets and MAC Numbers
Competitive Analysis Template in MS Excel, Google Sheets and MAC Numbers


Use this Convenience Store Financial Model Demo As An Example



Convenience Store Financial Model in Excel, Google Sheets and Numbers

Our Convenience Store financial projection template excel will help you show potential investors why they should invest in your business. Having a solid financial forecast template will demonstrate your in-depth knowledge of your business and the market you're operating in as well as how much you need to raise and why. Presenting a credible financial model, which assesses different scenarios will give potential investors confidence that their money will be well spent.



Use this Convenience Store Financial Model Demo As An Example



I.- Convenience Store Executive Summary



Business Overview

[Company Name], located in [Location] is a convenience store that operates 24/7 every day. [Company Name] provides everyday needs such as pre-cooked meals, snacks, pastries, and beverages such as coffee, milkshakes, canned and bottled drinks to surrounding schools, residential areas, and commercial and business establishments. Apart from food and beverages, the store also offers a limited selection of household products, groceries, Over-The-Counter (OTC) medicine, and periodicals such as magazines, and newspapers.

In addition to the 24/7 service that [Company Name] provides, it will also include a delivery option, where clients may place orders over the phone and have them delivered to their homes. They can also schedule a pick-up time and date for their orders.This raises the bar for the store's 'convenience.'

Services

[Company name] provides a variety of products for their customers to buy. The products include the following:

  • Pre-cooked meals

  • Bread or Bakery products

  • Personal Care

  • Snacks such

  • Beverages

  • Canned or Jarred Goods

  • Dairy

  • Cleaners

  • Over-The-Counter (OTC) medicines



Customers can also get delivery and pick-up services from [Company Name].

Customer Focus

[Company Name] will mainly provide services to the city inhabitants. The following are the demographics of these customers:

  • 302,154 city inhabitants

  • 189,741 workers

  • Average income of $51,000

  • 39 percent of married individuals

  • 40% in management and professional occupations

  • Age median: 38 years



Management Team

[Founder's Name] is the CEO of [Company Name]. His family has been in the retail store business for over 30 years. Thus, this gave him the opportunity to gather significant experience in running a convenience store.

In addition to the significant experience he gathered while running a family store, he also studied business administration from the University of ABC. Furthermore, an assistant manager who also studied Business Management in the university, in addition to the experience he had in running a small business is also part of [Company Namemanagement ]'s team.

Success Factors

The possibility for [Company Name] to thrive is very high. This is because of the following reasons:

  • A convenience store that provides 24/7 services is needed by the region where [Company Name] is located.

  • Our company is located on a very busy route which has a lot of people passing by every day.

  • The management team has a history of operating successful convenience store businesses according to convenience store business plan.

  • Convenience stores are known to be a profitable business in communities all around America



Financial Highlights

[Company Name]’s convenience store startup budget is $420,000. This capital fund we are looking for will be used to cover location construction, staff recruitment, marketing cost and working capital.

However, the breakdown of how the $420,000 capital fund will be used are as follows:

  • $220,000 for store design and construction

  • $200,000 for working capital which will cover marketing, staff salaries, and inventory costs until [Company Name] breaks even. The convenience store budget template throws more light on this.



Convenience Store Financial Plan Core Financials Report


II.- Convenience Store Business Overview



Who is [Company Name]?

[Company Name] is a convenience store that operates 24/7 every day. It is in the middle of [Location]. [Company Name] provides everyday needs such as pre-cooked meals, snacks, pastries, and beverages such as coffee, milkshakes, canned and bottled drinks to surrounding schools, residential areas, and commercial and business establishments. Apart from food and beverages, the store also offers a limited selection of household products, groceries, Over-The-Counter (OTC) medicine, and publications such as magazines, and newspapers.

The primary aim of [Company Name] is to use its convenience store to meet the daily needs of the Commuters, office workers, and students. The store is strategically positioned on [Location] city's busiest route. This makes it convenient for their target markets to have access to their services.

In addition to the 24/7 service that [Company Name] provides, it will also include a delivery option, where clients may place orders over the phone or through the company’s website and have them delivered to their homes. They can also schedule a pick-up time and date for their orders.This raises the bar for the store's convenience.

[Company Name]’s History

[Founder's Name] is the CEO of [Company Name]. His family own and run a retail store business and has been in the business for [X] years. Thus, this gave him the opportunity to gather significant experience in running a convenience store. Thanks also, to the knowledge he gathered in school by studying business administration from the [University] .

[Founder's Name] also has substantial buying and selling experience, making him eligible for opening his own store.

The following achievements have been made since the company's inception:

  • Found a store location and signed a leasing agreement.

  • Created the company’s name,logo, and website.

  • Established the need for inventory and equipment

  • Started hiring key personnel with marketing experience



Use this Convenience Store Business Plan Sample As A Guideline



[Company Name]’s Products/Services

These are the products [Company name] will offer:

  • Pre-cooked meals: pasta, pizza, sandwiches, noodles

  • Bread and Bakery products: bread, cake, bagels, dinner rolls

  • Personal Care: shampoo, shaving cream, soap, hand soap

  • Snacks: chips, nuts, chocolates, candy, ice cream

  • Beverages: bottled water, canned drinks, coffee, tea, juice, soda, wine, beer

  • Canned Goods: fruits, vegetables, sauces, condiments

  • Dairy: cheese, eggs, milk, yogurt, butter

  • Cleaners: all purpose, laundry detergent, dishwashing liquid and detergents

  • Over-the-counter medicines



[Company Name] convenience store also offers pick-up and delivery services.


III.- Convenience Store Industry Analysis



Convenience Stores Industry has been able to resist strong competition over the last five years. Convenience store sector has been able to achieve this by providing convenience, value, and a selection of fresh and healthy products.

Furthermore, business owners in the industry have expanded the product list of what they offer. They have included food service products, which give them more profits, compared to other products such as cigarettes. As a result, business owners are more concentrated on meeting demand for fast and easy meal options. Thus, the business owners are profiting from customers' need for quick and healthy food services.

The convenience store financial projection specifically for the revenue is 2.5 percent increase on a yearly basis. There is a projection of consumers purchasing items more often from the convenience store more as the employment rate increases. However, consumers with greater disposable incomes are likely willing to pay higher prices for convenience store services.

Furthermore, as people get more employed, foot traffic in populated areas will also increase. There will be lots of passersby and this will indeed increase the demand rate of the convenience store industry. Furthermore, Consumers are also predicted to gravitate to industry establishments for convenience as disposable income levels increase.

Use this Convenience Store Business Plan Sample As A Guideline



What you Get in Your Convenience Store Business Plan Package


9 Chapter Business Plan Template in MS Word, Google Docs and MAC Pages
Pitch Deck Template in PowerPoint, Keynote & Google Slides
5 Year Financial Model Template in MS Excel, Google Sheets and MAC Numbers
Financial Dashboard Template in MS Excel, Google Sheets and MAC Numbers
Business Model Canvas Template in MS Excel, Google Sheets and MAC Numbers
SWOT Analysis Template in MS Excel, Google Sheets and MAC Numbers
Competitive Analysis Template in MS Excel, Google Sheets and MAC Numbers


IV.- Convenience Store Customer Analysis



Profile of Target Market

Specifically, [Company Name] will offer its services to the commuters, residents and workers around the [location ]area of the company according to the business plan for a convenience store.

Use this Convenience Store Business Plan Sample As A Guideline



Demographics

The precise demographics of the town in which the company resides is as follows:

Convenience Store Financial Plan Demografics Analysis


Customer Segmentation

The following customer groups will be our primary focus:

  • Families: A large number of families require access to a convenience store in order to address their urgent needs.

  • Morning commuters:Many people in the area commute to nearby towns or work by car or by train. And the company’s location is convenient for these groups of people to easily grab a coffee or snacks in the morning or a sandwich in the evening at [Company name].

  • Local office workers: About 4,000 people work in organizations within a quarter mile of the company’s store. A significant number of them are expected to visit the store frequently during their lunch break and their morning commute.

  • Students: half-mile away from the store is a middle and high school. When coming back from school or during lunch, students from these schools are likely to visit the store frequently.



V.- Convenience Store Competitive Analysis



Direct & Indirect Competitors

Brightfield Travel Plaza
Hours: M-F Open 24 Hours
Brightfield Travel Plaza is a family business that runs a gas station and a convenience store. Brightfield travel plaza has a food court, a playground, a shower station, and a souvenir shop. The plaza also has a fudge shop, a coffee shop, and a convenience store with fresh grab-and-go foods like doughnuts, fruit, and rotisserie chicken,and frozen Wyoming meats.

Town Goods, Inc.
Hours: Open 24 hours
Town Goods owns and runs about a half-dozen businesses which include convenience stores, car washes, inexpensive hotels, and casinos. The company also owns and runs travel centers. However, the travel centers run under a brand name known as Pilot Flying J.
The company also offers propane and fuel distribution services as part of its operations. The company also has 80 Town Goods Food Stores that are privately owned and operated. These food stores sell deli-prepared foods, jerky, nuts, and tobacco products.
The company also has mobile-based customers. In recent years, the company has to create mobile-based applications and location finders in order to meet the needs of these groups of customers.

Neighborhood Store
Hours: Varied by location
The Neighborhood Store/Neighborhood Store Market brand operates about 1,300 gas stations and convenience stores across the United States. Wholesale gas supply businesses that sell fuel to the company's retail outlets are also part of these operations.
The chain also distributes a variety of national gas brands to independent distributors and other customers. However, a major Canadian convenience store chain bought the company in 2017.

Use this Convenience Store Business Plan Sample As A Guideline



What you Get in Your Convenience Store Business Plan Package


9 Chapter Business Plan Template in MS Word, Google Docs and MAC Pages
Pitch Deck Template in PowerPoint, Keynote & Google Slides
5 Year Financial Model Template in MS Excel, Google Sheets and MAC Numbers
Financial Dashboard Template in MS Excel, Google Sheets and MAC Numbers
Business Model Canvas Template in MS Excel, Google Sheets and MAC Numbers
SWOT Analysis Template in MS Excel, Google Sheets and MAC Numbers
Competitive Analysis Template in MS Excel, Google Sheets and MAC Numbers


Competitive Advantage

[Company Name] has a number of advantages over its rivals. These benefits are as follows:

- Location: The location of [Company Name] is close to the center of the town, making it convenient for train passengers, local office workers, and passers-by to visit the store. The store also has adequate parking space making it convenient for the customers to drive in and buy from the store.
- Great service at an affordable price: The store provides pick-up and delivery services, allowing it to reach a wider audience.
- Management: The management team of [Company Name] has years of experience in business and marketing. This gives the company the advantage of marketing and offering their services to their customers in a more satisfactory manner than its rivals.
- Relationships: [Founder's Name] he has lived in the neighborhood for the past 20 years. As a result, he knows all the media houses, local leaders and other influencers in the community. Thus, [Company Name] will not find it difficult to create brand awareness and a customer base.


VI.- Convenience Store Marketing Plan





Use this Convenience Store Business Plan Sample As A Guideline



The [Company Name] Brand

The [Company Name] brand will emphasize on the following distinct value proposition of the company:

  • Easy accessibility location

  • Significant personal attention

  • Affordable price point

  • Friendly, customer-focused environment



Promotions Strategy

Residents and workers within a 5-mile radius of [Company Name ]'s location are expected to constitute its target market. However, the promotional approach of [The Company to reach these group of people are as follows:

Local Publications
[Company name] will publicize its opening several weeks ahead of time in a variety of local newspapers and other periodicals. Furthermore, regular commercials will run to sustain awareness in relevant markets.

Community Events/Organizations
[Company name] will advertise itself by giving out promotional materials. [Company name] will also attend local community events such as school fairs, festivals,, and athletic activities in order to prompt itself.

Commuter Advertising
[Company name] will recruit personnel that will hold up and display signs along busy commute routes in order to draw people’s attention to the company. Doing this in a busy route will enable us to reach out to a huge number of workers about the launch of our company.

Customer Loyalty Programs
[Company name] will create an effective customer loyalty program. During this program , we will reward loyal clients with discount coupons, vouchers, and other incentives. This is to ensure that top customers continue to patronize [Company name].

Ongoing Customer Communications
[Company Name] will also print and distribute weekly flyers that will promote special offers which our convenience store provides.


VII.- Convenience Store Operations Plan



[Company name] will offer 247 services daily. The company also plans to hire [X] stock personnel, [X] cashiers, [X] delivery workers and [X] supervisors. Furthermore, [Company name] expects to have [Z] customers every day according to the convenience store business plan template.

However, the Company must undertake numerous functions in order to carry out [Company Name's] business model. To achieve this, [Company name] plans to hire [X] staff, who will be grouped in to the following job functions:

Service Functions

  • Inventory and stock managers

  • Cashiers

  • Delivery workers

  • Maintenance workers



Administrative Functions

  • Marketing, bookkeeping and other general and administrative functions

  • Product sourcing and storage

  • Staff recruitment and training



Use this Convenience Store Business Plan Sample As A Guideline



What you Get in Your Convenience Store Business Plan Package


9 Chapter Business Plan Template in MS Word, Google Docs and MAC Pages
Pitch Deck Template in PowerPoint, Keynote & Google Slides
5 Year Financial Model Template in MS Excel, Google Sheets and MAC Numbers
Financial Dashboard Template in MS Excel, Google Sheets and MAC Numbers
Business Model Canvas Template in MS Excel, Google Sheets and MAC Numbers
SWOT Analysis Template in MS Excel, Google Sheets and MAC Numbers
Competitive Analysis Template in MS Excel, Google Sheets and MAC Numbers


Milestones

[Company name]’s long-term goal is to become the go-to convenience store in the [city] area. We seek to become the standard by which other providers are judged.

The following are a series of steps that lead to the company’s vision of long-term success. [Company Name] expects to achieve the following milestones in the following [xyz] months:

Convenience Store Financial Plan Milestones


VIII.- Convenience Store Management Team



[Founder's Name] is the CEO of [Company Name]. [Founder's Name]’s family has been in the retail store business for over 30 years. Thus, this gave him the opportunity to gather significant experience in running a convenience store.

In addition to the significant experience he gathered while running a family store, he also studied business administration from the University of ABC. Furthermore, an assistant manager who also studied Business Management in the university, in addition to the experience he had in running a small business is also part of [Company Namemanagement ]'s team.

Use this Convenience Store Business Plan Sample As A Guideline



Hiring Plan

[Company name]’s store manager will be [Founder]. Furthermore, we need to recruit the following people for rotational shift in order to help [Company name] handle the 24/7 services it offers its customers:

  • Two full-time and one part-time stock and inventory managers

  • Four full-time or part-time cashiers

  • Two delivery personnel to begin with

  • One full-time maintenance employee for the day shift



IX.- Convenience Store Financial Plan



The major source of revenue [Company Name] will be the sale of items according to the convenience store financial statements.

Convenience stores, like most businesses, have two major cost drivers. They include the cost of products sold and labor cost. Staff receive their pay through a combination of pay and bonuses. This rewards them for their efforts and encourages them to participate in the company's growth and retention.

In reference to the convenience store financial model, the following will be the primary cost drivers for the company's operations:

  • The cost of the products sold

  • Wages

  • Lease



[Company Name ]'s marketing expenses are also significant cost drivers.

Use this Convenience Store Financial Model Demo As An Example



Capital Requirements and Use of Funds

[Company Name] is looking for a startup capital of $420,000. The startup capital will be used to cover capital expenditures, location construction, staff recruitment, marketing cost and working capital according to the convenience store financial plan template.

However, the breakdown of how the $420,000 capital fund will be used are as follows:
- $220,000 for store design and construction
- $200,000 for working capital which will cover marketing, staff salaries, and inventory costs until [Company Name] breaks even.

Convenience Store Financial Plan Sources And Uses Report



Convenience Store Financial Plan Sources And Uses Report


Key Assumptions

The following table reflects the key revenue and cost assumptions made in the financial model:

Convenience Store Financial Plan Core Inputs



Convenience Store Financial Plan Core Inputs Report


Convenience Store Financial Plan Top Revenues Report



Convenience Store Financial Plan Top Revenues Report


Convenience Store Financial Plan Top Expenses Report



Convenience Store Financial Plan Top Expenses Report


Convenience Store Financial Plan Income Statement



Convenience Store Financial Plan Income Statement Report


Convenience Store Financial Plan Cash Flow Statement



Convenience Store Financial Plan Cash FLow Report


Convenience Store Financial Plan Balance Sheet Statement



Convenience Store Financial Plan Balance Sheet Report

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Convenience Store Business Plan

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