Managing a retail store is tough work. Between operations, merchandising, marketing and facility upkeep, retail business owners have their hands full. Managing the details of retail is the difference between making it or not. All too often, retail owners become lax in their operation and put themselves at an unnecessary disadvantage with their customers. It…
How Can C-Stores Navigate the Post-Pandemic World?
Raise your hand if you had the word “pandemic” in your strategic plans at the start of 2020, and yet, unexpectedly, the world quickly changed as COVID-19 arrived. While convenience stores were spared total closure during the lockdowns and volumes were off – i.e., fuel – most survived. Now, with a changed landscape, c-stores can…
How Independent C-Store Operators Should Manage Capital Expenditures
When it comes to the long-term success of a business, one of the key drivers is prudent capital re-investment. Unlike operational expenses that are used to run the daily business or working capital to purchase inventory, money invested in the business that yields incremental income is known as capital investment. Generally, these investments are made…
Evaluating Real Estate Sites
Evaluating potential new sites for the multi-unit operator can be a daunting task. The operator is constantly chasing several potential opportunities — whether through new builds or through acquisitions — only to have a few select sites come to fruition. Complicating the site selection process is generally a lack of an evaluation tool that can…
Why It’s Important for the Independent C-Store Owner to do a Diagnostic Store Assessment
Conducting a diagnostic store assessment is an excellent way to gain opportunistic perspectives for your location. Walking through and evaluating your store — from the eyes of the customer — can provide both strategic and tactical ideas for improvement. Whether it’s the exterior appeal of your location or the interior product assortment, layout and merchandising,…
How Independent C-Store Operators Maintain Master Store-By-Store Databases
There comes a time in every multi-unit retailer’s business cycle that they want to launch a new product that requires a reconfiguration to their store. The challenges arise when the equipment goes to the store, and the manager asks, “where does this go?” and proceeds to find a home for it. Over time with each…
How Can the Independent C-Store Operator Develop a Corporate Communications Plan?
Amazingly, many companies do not think about communications — both internally and externally — until it is a necessity. A crisis occurs, a reaction follows, and, in many cases, they do not necessarily put the best foot forward. Even small companies can have an effective communications strategy that enables them to articulate company news efficiently.…
How Can Independent C-Store Operators Manage Requests for Proposal?
We select our store locations. We select our staff. We select the merchandise to carry; and, along those lines, we select our vendors. Selecting the correct vendors — in addition to managing these vendors during the selection process and beyond — can often be the difference between making your store profitable or simply providing real…
How Can Independent C-Stores Grow Their Business With Local Store Marketing?
The fight for share-of-customer by convenience stores to effectively capture sales has never been fiercer. C-store operators that sit back and wait for their business to improve will have a very long road to recovery, if ever. Aggressive retailers that go after sales by working the critical three-mile business radius surrounding their retail store will…
How Can Independent C-Stores Improve Vendor Partnerships?
Imagine a business world where resources are plentiful and industry expertise could be available at every juncture. Where decisions could be made that dovetailed alignment in support of your convenience store’s strategic plan. Imagine a world that anticipates your directives and assists in helping to execution your vision flawlessly. This is a business community that…