About Startup Costs
The startup costs provided in this database include an approximate financial investment that will be needed to start the business. This is generalized information and should only be used as a yardstick to determine business startup costs. Your investment will vary based on factors such as equipment, transportation, licensing and permits, operating location, working capital and initial marketing and advertising budgets. Remember a successful entrepreneur is one who carefully researches and plans every aspect of a new business venture, including the financial investment needed to start a business and the working capital required to achieve positive cash flow.
Business At A Glance
Convenience Stores
Startup Costs: $10,000 - $50,000
About
Franchises Available? Yes
Online Operation? Yes
Set up shop in a convenient location and you'll have customers dropping in.
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
Related Articles
How to Start an e-Business
Is starting a new Internet business a bad idea? Not if you start smart and learn from others' mistakes. We'll tell you how.
Starting a Business as a Personal Shopper
Shopping isn't just their passion; it's their business. And it's no job for an amateur. Learn how these fashion-forward pros make their living at the checkout counter--and how you can, too.
How to Start a Retail Business
Owning your own store is a dream shared by many. Be one of the few that makes it come true with help from this thorough guide.
Related Franchises
Street Corner
Mall-based convenience store
7-Eleven Inc.
24-hour-a-day convenience store