Business, Thought, and Management Articles --- Convenience Store Management --- Competiton Among Stores
A convenience store opened at a very good place. People will gather and the shop comes to flourish. The shop owner will be happy since it becomes profitable. But, many rival stores appear with the next soon, their struggle begins.
A convenience store opened at a very good place. People will gather and the shop comes to flourish. The shop owner will be happy since it becomes profitable. But, many rival stores appear with the next soon, their struggle begins.
It is not unusual that many convenience stores appear one after another, near the thriving store. Where convenient location to attract customers, the rivals will come easily.
Most customers do not care which convenience store is which. Therefore, new opened convenience store can take customers easily from old existing stores.
If a new convenience store opened near the old one. The sales of old store will fall. Despite the shop owner's past effort, customers easily change the store one frequents.
Occasionally old store is forced to close because new store gather their customers.
Competition is inherent in any market. Where there are many customers, many stores struggle in severe competition among them.
Sometimes even in places with no competition for many years, suddenly exposed to severe competition.
* Return to Convenience Store Management
Purchasing
One of the attractiveness to start convenience store is advantage of purchasing. You can receive the advantage to purchase high-quality selling products by becoming convenience store management.
Accounting System
For personal businesses, for corporate businesses, accounting and managements are very important. Taking actions quickly without missing a little trouble on the small changes in sales and accounting, is fundamental to improve the management, and stabilize revenue.
When you start convenience store by the franchise agreement. You can get know-how that other stores of the franchise chain have generated. The franchisor will provide you manuals for convenience store management.
Management Rules and Guidance
Since you start convenience store business by the franchise agreement, you will receive guidance for management from the franchisor. You will need to keep rules according to the franchise agreement. But, by receiving management guidance, you will be able to reflect on efforts to improve the current state.
Layout
The store layout is important. Width of opening, parking space layout, drinks, magazines rack, and snacks and candies display area have huge influence to the shop's sales. Before start store, owner must think very carefully the balance each other for effective layout.
Easy to Advertise
Convenience store is said easy to advertise than independent stores. Noticeable sign and logo, store building image can make people come in with confidence.
Ease of Fund Planning
When starting management, you have to think carefully about the funds plan. It costs money to start business. Money goes away first. It is not always the case that the business goes well if it costs money.
Become Passive
It is important for convenience store owners to make effective use of information, and management guidance provided by the franchisor. But being accustomed of receiving information from franchisor, store owners may become a passive managers who do nothing without instructions from franchisor.
Competiton Among Stores
A convenience store opened at a very good place. People will gather and the shop comes to flourish. The shop owner will be happy since it becomes profitable. But, many rival stores appear with the next soon, their struggle begins.
Market Transformation
As the risk factors that affect the convenience store management, there are changes around the store. Even if you consider a closer look at the decision, such as the amount of traffic, pedestrians, economy around the place. After you opened the store, every situation changes.
Risk of Part-time Workers
The convenience store manager basically hire part-time workers and open 24 hours. Part-time workers are very important people who supports convenience store management. They are labor force to cherish, but they are also a big risk factor at the same time.
Risk of Headquarters
To start convenience store management, you need to sign a franchise agreement with the headquarters of the convenience store. As long as you continue to manage one you contract, your relationship with the headquarters will continue. For convenience store managers, the headquarters can be a great help and it will be a risk factor.
Choosing Franchisor
Convenience store management begins with choosing franchisor. There are variety of franchisors. The success or failure of management is strongly influenced by the chosen franchisor. Once you select and agree with the franchise contract, you will not be going back almost.
Choosing Location
Sales of convenience stores are highly depending on their locations. It is very important strategy to determine where you are selling. The location have a significant impact on the convenience store's future.
Financing Plan
Convenience store management is said to be relatively easy to set up a financial plan compared with other general business. In addition to the initial cost and fixed and variable costs related to management, the headquarters may offer several financial planning models in some cases.
Attracting Customers
It is very important for convenient store owner to develop a strategy of attracting customers. The owners should work along with the franchisor's policy and instructions, take advantage of their advices. At the same time, owners will have to continue to attract customers and make a strategy by their own.
Collecting and Training Part-time Workers
Part-time workers are valuable labor for convenience stores and are also "faces" that affect the image of shops. It is very important to raise good part-time workers in convenience store management and to raise sales of stores.
Sales Increase
Since you started convenience store management, You would definitely want to increase sales and make it a prosperous shop. In order to build a prosperous shop, it is important for managers to make a sales improvement strategy and continue to make improvements while reflecting on a monthly basis.
