How to Start a Convenience Store in 2021 – A Step-By-Step Guide

According to the National Association of Convenience Stores (NACS) Industry Report, in the United States, the total gross sales in the c-store industry grew by 3.3% and the sales per store improved by 4.2% that is a record high of $1,619 of sales per store in 2020. Therefore, your initial decision of choosing the type of business and the niche is absolutely perfect.

Since you’ve made the right choice, how should you get started?

Just like any other business, starting a convenience store requires money (capital), proper business planning, and time. Convenience stores are more and more in demand all around the world because of the rising population and rapid urbanization. With proper planning, the right location, stock items and inventory, pricing structure, powerful convenience store back office software solutions, and efficient management, you may have a profitable convenience store business right from the start.

This guide will help you step by step start your own convenience store business from scratch and make it profitable right from the start.

How to Start a Convenience Store Business in 2021 in 10 Simple Steps

Convenience Store Business Plan
Every business needs a business plan and A clear plan is essential to be a successful entrepreneur. During the initial planning process to start your c-store business, make sure to consider a few important questions:

How much does it cost to start a convenience store?

How much does it cost to run a convenience store business?
Who will be your target market?
What will be the name of your business?
Choose a Right Location
With a solid business plan in hand, it is time to choose the ideal location. Location plays an important role in your c-store business. In order to make your convenience store successful, you have to choose a location with a good amount of traffic and minimal competition and that is very convenient for your customers to reach. Ideally, a convenience store should be highly visible, easily accessible, and must also have convenient parking options.

Stores that are on streets that are frequently traveled have a stronger local customer base. More importantly, the stores that are located near society and get frequent customers from the neighborhood are more likely to make a loyal customer base. Whereas the c-stores that are located on highways might have higher daily sales but most of the customers are one-time travelers that are most likely not visiting the stores again.