Business At A Glance
Startup Costs: $10,000 – $50,000
Online Operation? Yes
Business Overview
In spite of the rising popularity of internet shopping combined withhome delivery of grocery and convenience items, starting and operatinga ‘mini convenience store’ is still a good business venture to activatethat has the potential to generate respectable profits. The namesuggests it all. In order to succeed in this segment of the highlycompetitive retail industry, the store must be convenient.
This meansan easily accessible and highly visible business location, well-stockedwith the most popular convenience products, and fast and friendlyservice. Remember, if a customer’s shopping experience at the store isnot convenient then there won’t be any repeat business.
In addition tothe usual supply of convenience products, such as milk, eggs, bread,snack items, and soda pop, be sure to add other products and servicesto attract customers to the store and keep them returning as repeatbusiness. 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 flowersfor sale on a daily basis.
Once again, business location is the key tosuccess. The business must be located with easy street access and goodparking, 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
