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Business Idea Center - Convenience Stores

Convenience Stores

Business At A Glance
Startup Costs: $10,000 - $50,000
Franchises Available? Yes
Online Operation? Yes

Business Overview

In spite of the rising popularity of internet shopping combined with home delivery of grocery and convenience items, starting and operating a 'mini convenience store' is still a good business venture to activate that has the potential to generate respectable profits. The name suggests it all. In order to succeed in this segment of the highly competitive retail industry, the store must be convenient. This means an easily accessible and highly visible business location, well-stocked with the most popular convenience products, and fast and friendly service. Remember, if a customer's shopping experience at the store is not convenient then there won't be any repeat business. In addition to the usual supply of convenience products, such as milk, eggs, bread, snack items, and soda pop, be sure to add other products and services to attract customers to the store and keep them returning as repeat business. These products and services can include lottery ticket sales, tobacco products, newspapers and magazines, a fax service, photocopying, calling cards, postal stamps, and even fresh-cut flowers for sale on a daily basis. Once again, business location is the key to success. The business must be located with easy street access and good parking, or alternately in an area of heavy foot traffic like a mall, transportation terminal, or office district.

The Market

People in a need of a convenient, one-stop place for one or more of their needs

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