Business plan pro 11 how to#
Spencer knows exactly how to start a convenience store and he has all the resources needed for starting a convenience store.Īlthough there are hundreds of already established convenience stores we have several competitive advantages over other competitors. Spencer has been associated with the family business of fast-food restaurants for the last 20 years after doing his Masters in Business Administration from the Harvard University. The business will be owned by Doug Spencer of Spencer family, one of the richest families in the United States. The location is ideal for opening convenience store since it is amidst all commercial and business activities and at a 10 minutes’ drive from the residential zone. We have strategically selected a furniture showroom, located in the main commercial center of downtown Manhattan, to be converted into our store. We aim to serve the nearby residential community and working class of Manhattan by proving them all they need under a single roof. Executive Summary 2.1 The BusinessĮasyShop will be a bonded, insured and licensed convenience store business, located in the Manhattan borough of the New York City. So, if you are wondering how to write an effective business plan then here we are providing you the business plan for a convenience store business startup named ‘EasyShop’. It will help you determine everything the types of products you will be selling, who your target customers will be and how you will allocate your resources for the required equipment, inventory, and payroll. So before you move on to open a convenience store, you will have to prepare a convenience store business plan which will establish the basis of your company’s future operations and decisions. That is why this business starts yielding a profit as soon as it is launched as compared to most of the businesses which need months or even years to yield the desired rate of return.Īnother important aspect is that, unlike other businesses, a convenience store business has the least amount of risk associated with it provided that you plan it successfully. They are undoubtedly the need of the hour in today’s time where everyone is busier than ever. The biggest reason of the popularity of this business is that the convenience stores offer various products which allow the consumers to obtain all their needs from a single roof thus keeping the traffic flowing day and night throughout the year. As of December 31, 2016, there were more than 154,000 convenience stores in the US and their numbers are still increasing steadily. Do you want to start your own convenience store?Īre you planning to start a convenience store? Well, the yearly sales of the US convenience store industry exceed $680 billion so it is undoubtedly one of the most profitable businesses out there.