How to write a business plan for a convenience store?

To write a comprehensive business plan for a convenience store, you must first mention its registered name and the business structure. Then you should mention the products on offer followed by a market analysis. Finally, you must also mention the operations and location of the store in a separate paragraph. Remember to include your assets and a complete profit and loss statement when writing the plan for your store.

What is a convenience store business plan?

This plan highlights the current status of your store and mentions its growth plan for the next three years. It is usually curated to attract investors for funding purposes.

What is the easiest way to complete my convenience store business plan?

To complete your plan easily, gather all the relevant information before jumping into designing the plan. In addition, for conducting market analysis or designing financial statements, we recommend taking help from a finance expert. This can save your time being spent on the technical accounts.

What to include in a convenience store business plan?

A business plan should include a detailed summary of your company, its financial status, products and services on offer, and a market analysis. You should also include all your financial statements and profit and loss projections for the next three years.

What are the sources of funding for a convenience store?

A convenience store can be funded through personal loans, relatives and friends, corporations, and venture capitalists. Other than that, going public can also help the store to earn funds.

available

Convenience Store Business Plan Template

Prepared for:

[Client.FirstName][Client.LastName]

Prepared by:

[Sender.FirstName][Sender.LastName]

1. Executive Summary

[Sender.Store] is a convenience store located in [Sender.City][Sender.State]. It aims to serve various schools, residential areas, and commercial offices by fulfilling basic needs such as groceries, pre-cooked items, milkshakes, magazines, and newspapers.

Besides, [Sender.Store] will offer a home delivery option on every order received from customer calls. The customers can choose a delivery date and time at their convenience.

Products Offered:

A detailed list of products on offer

Customer Focus:

List of categories of customers that the store may serve

For example: [Sender.Store] shall serve the following people living within the city:

Residents
Workers
Married people
Professional people
School-going kids

Management Team:

[Sender.Store] is led by [Sender.FirstName][Sender.LastName], who had a family running the retail business for many years. The owner has extensive store experience and a degree in (Degree.Name) to look after the business side professionally.

Besides the owner, the retail store also plans to hire a manager with a degree in (Degree.Name) and (years) of experience.

Success Factors:

[Sender.Store] qualifies to succeed due to reasons such as (Mention reasons, for instance, location, experience, services, and availability of products)

Financial Highlights:

[Sender.Store] plans to seek $ (Amount) to launch the convenience store. The capital shall be used to hire employees, build the store, and cover marketing expenses.

(Prepare a chart on projections of revenue, expenses, and net income for the next three years)

2. Company Overview

[Sender.Store] Introduction: (Write a detailed overview of the store and its objectives)

[Sender.Store]History:(Mention its history, if any)

[Sender.Store] Products and Services: (Mention all products and services in detail with their subcategories)

3. Industry Analysis

Over the past six years, the convenience store industry

Has welcomed a lot of competition, with each competitor providing great value to its customers.
Industry operators have focused on fulfilling the demands of consumers by providing fresh goods on time and meeting the health requirements of people.
More people spend money on convenience stores to get their hands on the best home products every year.
The increase in high foot traffic in residential areas is also one reason for the convenience store industry's growth.

4. Customer Analysis

Target Market’s Demographic Profile:

[Sender.Store] shall serve commuters, residents, and employees around the (location). Here is a table of estimated people currently found in the specified area.

(Table with various categories of people and stats)

Customer Segmentation:

Our store aims to serve the following segments primarily:

Families
Local Office Workers
Students Commuters

(Continue the list with more segments)

5. Competitive Analysis

Here is a list of some top competitors of [Sender.Store]

(Competitor 1)

(Competitor 2)

(Competitor 3)

Competitive Advantage:

[Sender.Store] has many advantages over its competitors. These are:

(Location of the store)

(Service at an affordable price)

(Management)

(Relationships and experience)

6. Marketing Plan

The [Sender.Store] Brand:

The store wishes to focus on the following unique value propositions:

Personal attention
Convenient location
Friendly customer service

(Add more)

Promotion Strategy:

The [Sender.Store] expects to run the following promotional strategies for its business.

Local Publications (Explain how)
Community Events (Explain the events)
Commuter Advertising
Customer Loyalty Programs (Explain)
(Other)

7. Operations Plan

Functional Roles:

[Sender.Store] is expected to stay open (Hours) in a day. Moreover, it expects to hire (Number) of employees for roles such as:

Cashiers
Stock and inventory managers
Maintenance team
Delivery team

The store also needs to hire an administrative team for

Training staff
Storing and sourcing products
General functions such as bookkeeping

8. Management Team

The[Sender.Store] shall be run by the founder (Founder.FirstName) (Founder.LastName) with an experience of (Number) of years. (Founder.FirstName) (Founder.LastName) plans to serve as the store manager who shall be in the store for (Hours) daily.

The working shifts of the other workers and their numbers shall be as follows:

Inventory manager: (Number of full-time and part-time personnel)

Cashiers: (Number of full-time and part-time personnel)

Delivery team: (Number of full-time and part-time personnel)

Maintenance team: (Number of full-time and part-time personnel)

9. Financial Plan

Revenue and Cost Drivers:

The [Sender.Store] will earn its profits primarily from selling items. However, the profits earned shall be affected by certain cost drivers such as:

Wages
Leases
Cost of goods sold
Ongoing expenses on marketing

(Other)

Requirement of Capital:

[Sender.Store] wants to seek funding of $(Amount) to launch the store. The capital will be used to fund any capital expenditures, build the store, marketing expenses, hire the initial employees and spend on working capital.

The estimated breakup of the funds shall be as follows:

Store build/design: $(Amount)

Working capital: $(Amount)

Here are the financial statements projecting cash flows, profits, and losses for the next three years.

Profit and Loss Accounts

Balance Sheets

Cashflow Statements

Signature

MM / DD / YYYY