1.0 Executive Summary
This part of the convenience store business plan is designed to provide a one paragraph overview of the business. The information here should include the name of the convenience store, the capitalization of the business, its location (address if available), as well as the names of the founders. You can also indicate the date of when the convenience store launch operations will also providing an overview of certain products and services that will be offered.
1.1 The Services
This section of the convenience store executive summary should focus on the types of food and beverages that will be offered at the location as well as ancillary revenue streams such as sales of life essential products.
If the convenience store is affiliated with a gas station, then these matters can also be discussed within this section of the executive summary.
1.2 Financing
If the purpose of this convenience store business plan is to secure capital, then an indication of the amount of funding required can be indicated here.
It is important to note that you should indicate both the amount of funding that you are seeking from either a bank or private investor as well as how much of a contribution will be made from the owners. This section can also indicate preliminary terms of the financing that needs to be secured.
1.3 Mission Statement
As it relates to the mission statement, you can indicate the desired provide the community with access to affordable life essentials in an easy to reach location.
1.4 Management Team
This section of the convenience store executive summary should focus on the experience of the founder and any enterprises operating in the past. Academic credentials, as well as relevant experience can be discussed, especially if it is fully applicable to managing the day-to-day operations of the convenience store.
1.5 Sales Forecasts
1.6 Expansion Plan
For the expansion plan, you can indicate the potential to develop additional locations once the first location has reached its steady state of revenue generation. Ongoing discounts and specialized offers to drive people to the convenience store can also be indicated in this section.
2.0 Company and Financing Summary
2.1 Registered Name and Corporate Structure
The legal name of the corporate entity that holds the assets of the convenience store and its state of registration should be indicated here.
2.2 Required Funds
2.3 Investor Equity
In the event that you are securing investment capital to launch the convenience store, then you can create a proforma valuation table that showcases the value of the business and what percentage of the investor will receive as part of their overall compensation for providing the necessary funding.
2.4 Management Equity
In this section, all owners of the business should be indicated as well as their percentages of ownership. If you are seeking private investment capital then this should be a table that accounts for this as well.
2.5 Exit Strategy
Although they are not typically sold frequently, it is important to develop a contingency plan regarding the sale of the business in the future. Here, you can provide an estimation of the value of the business based on a statistical price to earnings multiple that is appropriate for convenience store.
3.0 Operations
The operation section of the convenience for a business plan is relatively straightforward to the develop. Here, a discussion about the food and beverages that will be provided should be included. If the convenience store is going to offer prepared foods, then a section should be dedicated to this aspect of operations.
In the operation section, you can also discuss the secondary and tertiary revenue streams of the business as well given that there are numerous opportunities for a convenience store to maximize its revenue by providing additional types of products and services related to life necessities.
4.0 Strategic and Market Analysis
4.1 Economic Outlook
The economic section of the business Plan is one of more challenging aspects of the document to develop specific for convenience store. Here, in overview of the current state of the economy should be provided, especially as it relates to how an economic recession could impact the revenues of a convenience store.
Although these businesses are stable, it is important to note contingencies and mitigation strategies in the section once the discussion of economic metrics is completed.
4.2 Industry Analysis
Through the use of numerous online platforms, this discussion should focus on sourcing information regarding the state of the convenience store industry. This can include information about the number of locations and operation, the compounded annual growth rate, as well as the current amount of revenue generated by the industry as a whole.
4.3 Customer Profile
As relates to the demographic profile, this is somewhat of a complex matter to address when creating a convenience or a business plan. This is primarily due to the fact that these locations are used by people across the entirety of the socioeconomic spectrum. Most importantly, a demographic profile that speaks to the median household income and population density the market should be developed. A discussion regarding the target market radius also needs to be included.
4.4 Competition
For the convenience or competitive analysis, in overview of competing enterprises that operate with a 3-mile to 5-mile radius should be included in the section as well. You can also indicate differentiating factors and competitive advantages that your store will have over other regional locations.
5.0 Marketing Plan
The marketing plan for a convenience store should be developed so that customers are drawn to the business from the very onset of operations. Suggested topics to cover within this section of the business plan include the ongoing use of both traditional and online marketing strategies that will create visibility beyond the exterior signage that is featured.
You can also discuss working with a third-party advertising and marketing firm that can assist with the development of marketing messages as well as the implementation of marketing campaigns, that will drive regional brand name awareness.
6.0 Organizational Plan and Personnel Summary
7.0 Financial Plan
7.1 Underlying Assumptions
The underlying assumptions that are used to develop the financial model should be included in this sub chapter. This includes an overview of the varying revenue streams that convenience store will have as well as discussing the amount and type of capital needed to launch operations. An indication of the anticipated compounded annual growth rate should also be placed in this part of the convenience store business plan.
7.2 Sensitivity Analysis
The sensitive of the analysis specific for the convenience store addresses issues that may occur in the event that there is an economic recession. The flexible financial model allows for the creation of additional tables that can show an optimistic case in regards to having greater sales and expected as well as a conservative case that showcases lower sales then were shown in the base case. Usually, this section spans one to two paragraphs and could be coupled with a chart to indicate this information.
7.3 Source of Funds
7.4 Profit and Loss Statements
7.5 Cash Flow Analysis
7.6 Balance Sheet
7.7 Breakeven Analysis
7.8 Business Ratios
