Skip to content

Convenience Store – Entrepreneurship and Benefits

you can read this

Start with a Convenience store

The articles of first necessity are something fundamental in our lives, either for food or hygiene the stores that offer these products of first necessity can offer a high yield if it is in a populated area and with few stores around to make us competition.

Main local store businesses here

When we decide to place a business, we want it to produce a quick and steady stream of money, allowing us to see short-term gains and recover our investment. That is why it is important to consider placing a business that is dedicated to the sale of items that people consume regularly. The sale of basic necessities in convenience stores, grocery stores, self-service stores or small supermarkets may vary depending on the country in which we are located.

In order to have one of these businesses it is necessary to have an appropriate location that allows you to have a large amount of products for sale. It is also vital that when you choose the range of products you will have for sale, you consider all the basic and not so basic needs of a home, so that you can cover all the existing possibilities.

Among the products that you can incorporate are daily hygiene items, refrigerated or non-refrigerated food products, drinks and different products for the home. These categories will give you a great amount of possibilities that will make your business of first necessity articles very assorted, so that you will monopolize more clients, to greater variety of products people will visit you and of course they can buy products that they did not have in mind at the time of going to your business.

Considering that you must have a wide assortment, you will need a slightly larger investment to cover this inventory, however you can make deals with the distributors to allow you to have the products in your store and pay them once you sell some amount, so you only pay for the amount of product you actually sell and you can return the surplus of the staples.

This business has the advantage of being very simple and you won’t need much effort to take care of it, just keeping a proper control of the income and expenses, as well as constantly checking the products to keep them up to date. Remember that some products expire so it is advisable to buy them with a high expiration date to avoid problems, although many times your suppliers will change them. Unlike food products, hygiene or leisure products do not have an expiry date, so you can buy in large quantities and get some extra discounts.

Convenience stores are a very good idea to start in the business world and you can make a profit quickly and steadily.

How to Open a Convenience Store

If you’re considering opening a business of staple items I will give you a little guide of what you need to enable your own business, the first thing you should do is assess if where you plan to open your business is profitable after you have already made a study you should get a local that is accessible and well located.

When you’re sure you have done the study of your local, you must go to the relevant authorities depending on the country we want to put our store of staples, among the most normal is the superintendent of tax administration to apply for a trade permit, even so I recommend that when you subscribe you do as a small taxpayer so only pay the minimum percentage of your bills issued.

Convenience Store Success Stories

Another permit that you must obtain but that is simpler is a health license this you will get going to a health inspector.

After you have obtained the permit for your basic necessities business and you have completed the procedures, you can move on to the furniture you will need, such as shelves where you can put some products, display cabinets where you can keep products that can be easily stolen, refrigerators and freezers for ice cream or food that must remain frozen and, if possible, a cash register.

You should also consult with your suppliers about what contracts they can offer you so that you can have their products and change them if they expire, special offers for having exclusivity with some product and above all if you do not have much experience some kind of course that will help you organize yourself better.

Remember the most important thing is that you have done a good research about the area of the store, the products that you need most in that area and the competition you are going to find, so in this way your business of basic need articles can arrive

Requirements for setting up a convenience store

The articles of first necessity are extremely varied in products and marks, reason why it is necessary to have a good selection to satisfy the consumer, this implies to count on a sufficiently great space to offer these articles, in addition the space must be well distributed between which they are the zones of free transit for the consumer, administration, room of employees and rest among others possible.

If you want to offer refrigerated items in the food sector, you must acquire an open refrigerator to offer products with a cold chain such as meat, sausages, fruit and other products that require constant refrigeration for their freshness.

In addition, you must have staff with customer service skills, which is essential, as well as maintenance staff and human resources to help position the products in each location in association with usage, so that the customer has easy access to them.

Convenience Store Advantages

Every day thousands of customers go out in search of items that are essential for the home, in addition to food for daily consumption that can even represent 30% of the monthly salary according to the family burden that each person has and different factors coupled with the size of the house, which represents an excellent margin of daily profit even higher than other types of business due to the high influx of customers to the business looking for basic items and daily use in addition to consumables that are mandatory purchase to maintain the lifestyle.

Having access to a business of your own in basic necessities represents a great advantage to maintain the clientele with the supply of sufficient products for the family and the maintenance of the home, in addition this type of business will always maintain money in the pocket of the investor at the disposal.

Requirements for setting up a convenience store

Tips for starting a staple store

In the first place, for security reasons and due to the high number of types of articles that must be in supply in order to attract customers, it is recommended that security cameras be installed in all areas where the customer passes through to take the products. It is also recommended to install security cameras in the rest areas for the payroll, this way you will have a proper control of the activity of human resources and safeguard against the likelihood of theft by staff.

It is recommended to have several suppliers of products so that you can look for the best wholesale price of basic necessity articles, this way you can save a little in the investment that requires the supply of your business.

Problems that can be solved by a convenience store

There are several products of first necessity that have an expiration date, so due to health regulations they must be discarded even shortly before their expiration in several cases. If there are not enough customers who can quickly acquire the product, it can represent a problem that translates into losses of invested money.

Having a large business that offers a variety of products should be careful with the staff, there is a possibility that some employees may abuse their business and take products without permission which can represent a problem of losses due to theft, if this situation is not controlled can progressively lead to large losses in the accounting breakdown.

Convenience Store Success Stories

One of these businesses considered successful is détox juices, because it is focused on selling natural fruit and vegetable-based juices, being a widely growing business, due to the benefits it brings. These spaces offer specific juices that are purifying, antioxidant, slimming, energetic and satiating. Therefore, detox juices are part of what is called the group of small profitable businesses in Spain. Some large companies, such as El Corte Inglés, have incorporated a variety of juices into their “gourmet” concept.

Also in the fashion and textile sector, virtual stores have become fashionable and continue to be one of the most profitable options, increasing their specialization. As a result of the healthy lifestyle, sports fashion has experienced a high demand in recent months, so a specialized store (physical and/or online) can be of great benefit and a very profitable business model.