Different Categories of Small Business Enterprises
The Convenience Stores industry has come a long way since starting out as a neighbourhood corner store for years and years. While the landscape has changed, the industry remains highly fragmented and focused on living up to its name. The industry 's emphasis on accessibility and easy transactions has helped it stay afloat during the economic recession. Despite the tough economy and rising costs, convenience stores have been able to maintain growth and profitability by offering convenience, value and a mix of fresh and healthy products.
A convenience store is a small store or shop that may sell items such as sweets, ice-cream, soft drinks, lottery tickets, cigarettes and other tobacco products, newspapers and magazines, along with a selection of processed food and perhaps some groceries. Stores that are part of gas stations may also sell motor oil, windshield washer fluid, radiator fluid, and maps. Often toiletries and other hygiene products are stocked, and some of these stores also offer money orders and wire transfer services or liquor products. They are often located alongside busy roads, in densely-populated urban neighbourhoods, at gas/petrol stations or near railway stations or other transportation hubs.
They are there to serve a need, providing a practical alternative to the out-of-town superstores. Rarely do they attract customers shopping for the week. Instead, they draw their custom from impulse or emergency purchases, from people topping-up their cupboards or from those simply getting the daily essentials like milk and bread. With the demise of the local specialist store, convenience stores have also become centres of the community in more isolated locations.
At a time of economic uncertainty, the market in these local retailers seems remarkably solid. According to the Association of Convenience Stores (ACS), tens of millions of customers visit convenience stores every day. So if you’re looking to buy a business, this could be an attractive
A convenience store is a small store or shop that may sell items such as sweets, ice-cream, soft drinks, lottery tickets, cigarettes and other tobacco products, newspapers and magazines, along with a selection of processed food and perhaps some groceries. Stores that are part of gas stations may also sell motor oil, windshield washer fluid, radiator fluid, and maps. Often toiletries and other hygiene products are stocked, and some of these stores also offer money orders and wire transfer services or liquor products. They are often located alongside busy roads, in densely-populated urban neighbourhoods, at gas/petrol stations or near railway stations or other transportation hubs.
They are there to serve a need, providing a practical alternative to the out-of-town superstores. Rarely do they attract customers shopping for the week. Instead, they draw their custom from impulse or emergency purchases, from people topping-up their cupboards or from those simply getting the daily essentials like milk and bread. With the demise of the local specialist store, convenience stores have also become centres of the community in more isolated locations.
At a time of economic uncertainty, the market in these local retailers seems remarkably solid. According to the Association of Convenience Stores (ACS), tens of millions of customers visit convenience stores every day. So if you’re looking to buy a business, this could be an attractive
References: 1. ^ North American Industry Classification (NAICS) 2002, "452 General Merchandise Stores (US)" 2. The Association of Convenience Stores Represents both convenience store chains and independents. Produces an annual Yearbook. Negotiates deals for its members on shop insurance, finance, health insurance etc. Website: http://www.acs.org.uk.uk 3. Alliance of Independent Retailers Membership organisation representing 18,000 independent retailers. Services include a free legal helpline, insurance deals and a copy of Monthly Trade magazine, “The Independent Retailer”. Website: www.indretailer.co.uk 4. http://www.bplans.com/convenience_store_business_plan/executive_summary_fc.php#1.1_Objectives#ixzz1DC1pbGfA 5.