How To Buy a Convenience Store

The decision to open a convenience store can be a lucrative venture, but it’s not always as easy as it seems. The nature of a convenience store is just that: convenience, so location is the prime consideration when searching for a piece of commercial real estate. Do your homework and be sure you have a location that's in a heavy traffic area.

The convenience store location should be readily accessible from both sides of the street with parking provisions for the customers to include a front and rear access. Corner properties are the best as they allow your clientele and easy-in, easy-out driveways heading in two directions. However, they do not come cheaply and will require a hefty added start-up expense.

One of the staples and biggest money makers in a convenience store is alcohol, but the would-be owner must make sure that a liquor license is affordable, or in some cases, even available. Certain states, such as California, do not grant a liquor license to every applicant, but rather hold a lottery to award the license to a scant few of proprietors. All the states are regulated by the federal Department of Alcohol, Tobacco and Firearms, and must adhere to tight restrictions with the granting of a liquor license. This process must be sorted out before investing your time and money into opening the convenience store, and in most cases, the liquor license will be granted for a hefty fee.

The next area to be mindful of and be sure you may obtain licensing for, is the sale of cooked or kitchen prepared food. Businesses that plan to serve meals such as hamburgers, hot dogs and such will need to obtain a Food and Beverage license, which is easy to acquire in most states, normally with just a fee involved. In addition, stricter states may require the vendor to take a county food handling exam, This course is designed to teach the vendor and employees about proper food temperatures and the necessary steps to avoid contamination.

To bolster sales in the new convenience store, you may wish to sell lottery tickets, most graciously provided by your state lottery commission. Not only do the game cards and ticket machines draw business off the street, the host vendor is entitled to a cut of the winning tickets. Additional promotional items such as colorful liquor displays and inflated corporate products are available to the convenience store owner free of charge. Check with the various manufacturers for free promotional advertising to suit your store.

To open a convenience store requires a prime location with easy access, a savvy buyer to stock what your customer base wants to buy, and a friendly atmosphere that makes the regular customers feel welcome. With a lot of hard work, long hours and a commitment to excellence, the little convenience store can snatch away a chunk of consumers from the giant markets when it can offer fast and efficient service with a friendly smile.