The Beginning Of Convenience Store Businesses

Consumers lives are made easier because of convenience store outlets. They may be buying their groceries from a full-scale grocery store but in times of emergencies where, say, you run out of toothpaste you have to get it from your neighborhood convenience store outlet. If you are interested in setting up a business of convenience store, here are some tips.

First of all you have to have a business plan that would include a business goal, a study if such a business is feasible, and a step-by-step plan on achieving your goal. Come up with a capital. You may get this from your own pocket and you can also acquire this by applying for a loan from a bank. Once the funding is released, the bank adds you to their accounts receivable list.

Next up is the location for the business. Convenience store outlets are usually near bus stops or subway stations.

Next is to build the shelves and a counter. You can use ready made shelves but built-in ones are better for they would fit the plan well. Then you have to get the refrigeration equipment for the drinks. You can get a good deal if you talk to the manufacturer. WIth this, you also dont have to pay in cash, make use of accounts payable deals.

These businesses order their supplies from a major outlet stores like Wal-Mart. They order by wholesale that is cheaper than the retail price. They fill out a list for Wal-Mart and the goods are then delivered to the convenience store outlet. Goods aren’t paid in cash but are listed on Wal-marts ledger as accounts receivable. Sometimes, local producers are the ones who deliver their products such as milk. Bottling companies also deliver their own products. They will also list the convenience store outlet in their accounts receivable ledgers. You are given a timetable in which to pay your accounts receivable, probably one or two months.

Have security measures installed as convenience store outlets are very prone to robberies. You can have cameras in strategic locations. You can put a security alarm that connects to the local police department. A good idea would be to put a foyer or anteroom. When the robber makes his getaway, both doors lock thereby trapping him in the room. See to it that the glass can resist impact or better yet bulletproof so that robbers cant break it when he tries to escape.

Do you need help with your accounts receivable mangement? Contact us and we will educate you on the ins and outs of using an account receivable software.