Email Convenience stores have become an essential part of our everyday lives. As the name implies, the aim of this type of store retailing business is to offer convenience to its customers.
MillenniumMart will be the first fully automated, 24 hour convenience store that is more like an enormous dispensing machine than the traditional store. The company expects to capture market share by becoming the low cost leader in the convenience store industry by significantly reducing one of the primary expenses, which is labor.
Through our completely automated shopping experience, customers will have the chance to shop for everyday items at reduced prices, thus undercutting competition such asAmPm, Circle K, and other local convenience store chains. The possibilities for expansion are excellent not only in the local area, but in neighboring communities as well.
The Company The company is a joint venture start-up company between the principals, Mr. Bean and his associates, and the management of Martin-Bower, one of the country's largest and most successful food distributors.
The company will be incorporated as a class C corporation in the state of Delaware with all shares held by private investors.
MillenniumMart is expected to open its first store in downtown Manhattan in March of Year 1. The company will be set up with a board of directors. Linda Tuck has accepted the position of CFO.
This includes newspapers, magazines, soft drinks, fruit juices, sport drinks, hot and cold snacks, a limited number of grocery items such as canned soups, microwaveable meals, condiments, bread, auto products such as fuel additives and cleaning supplies, pet supplies, paper products, toothpaste, etc.
In addition each computerized transaction machine can dispense cash, stamps, Lotto and phone cards and other coupons and will have the ability to create personal accounts that can display preferred items, retain shopping lists and other services.
An automated, interactive "customer service rep" will be able to answer questions and pass on comments to the company's management. In addition, the company is looking into ways to sell restricted items such as beer, wine and cigarettes and to set up a separate Internet area for remote access to the Web and email for its customers.
The Market Our market is booming. Convenience store industry sales rose 8. Convenience stores serve the entire purchasing population of its geographical area but focuses on customers who need to purchase items outside of normal working hours such as swing shift employees and quick shoppers looking for snacks and related items.
Therefore we have segmented our market into night shoppers, quick shoppers, and others. Growth rates for these three segments match the population growth for the surrounding area.
These costs are financed by both private investors and the investment of Martin-Bower. It should be noted that we expect to be operating at a loss for the first six months before advertising begins to take effect and draw in customers.
MillenniumMart will be receiving periodic influxes of cash in order to cover operating expenses during the first two years as it strives toward sustainable profitability. Almost all of this funding has been arranged through lending institutions and private investors already. We do not anticipate any cash flow problems during the next three years.
The company seeks to be first to market with this daring new idea so as to capture market share and create greater than average profits. We must attain a high level of visibility through the media, billboards, and other advertising.Convenience Store Business Plan Many aspects of your business plan for a convenience store hinge on the choice of products for the store to carry.
Certainly, this should be based on the customers you seek to reach with your store. Nov 14, · Read: Small Business you can start next week at your home.
The Capital. Obviously, the capital will depend on how big your store is and the variety of the items you are planning to sell. Say you have a plan of using P, That would already be a pretty good amount considering selling things you usually see in convenience stores like or Mini Stop.
Feb 04, · Starting a Convenience Store Business is indeed profitable business ideas. To start convenience store or super shop business is little challenging.
Convenience Store Business Plan Many aspects of your business plan for a convenience store hinge on the choice of products for the store to carry. Certainly, this should be based on the customers you seek to reach with your store. Read: Small Business you can start next week at your home The Capital.
Obviously, the capital will depend on how big your store is and the variety of the items you are planning to sell. Say you have a plan of using P, That would already be a pretty good amount considering selling things you usually see in convenience stores like or .
Home〉Business Plan〉Convenience Store Business Plan Industry overview-This section will include description about which industry you are targeting, its growth and size, competitive analysis, business strategy and key players.