Items to Consider When Opening a Convenience Store

July 14, 2019 Blog

Suggestions from the Team at the Business Insurance Center

Dotted along the American landscape are a variety of businesses. One that nearly everyone will utilize at frequently is the convenience store. These one-stop-shops live up to their moniker. They offer various products and gas at easily accessible locations 24-hours a day. Who hasn’t wandered down to the corner gas station in search of a microwave burrito and a fountain soda at 2:00 AM? If you are considering purchasing or building a convenience store, you have many things to consider.

Before you sign the dotted line on the contract for your new business, check in with the experienced team at the Business Insurance Center. We sit down with you, discuss your needs, and design a convenience store insurance program specific to your requirements. Set up your appointment today and let us help you with your new enterprise.

What to Consider When Opening a Convenience Store

Starting a new business brings contrasting emotions – excitement and trepidation are two but if you enjoy hard work and putting in the time fulfilling your entrepreneurial dreams, owning and managing a convenience store is a great option. Here are a few items to think about before you take the plunge:

  1. Where to locate the store – It is one thing to be located on the corner, but if parking is restricted, customers will look elsewhere. Another thing to consider is the presence of competition will indicate the type of opportunities available. Too many other stores and you may fight for business. While a lack of them in the area can be a good sign for you.
  2. How to develop your business plan – To stay organized and set your goals, a business plan will work wonders. It outlines your expectations for growth, any financing you use, and the roles of any partners or investors. Buying a franchise will have specific expectations you will need to consider.
  3. How to track and manage inventory – Understanding what sells well and where your profit comes from is vital to growing and staying in business. You also learn trends and identify those items that are the most profitable.
  4. What kind of management to establish – These stores do not run themselves, and your customer base expects you to be open 24 hours a day. It helps to determine how much hands-on work you anticipate as well as the number of staff you need.
  5. What type of business insurance you need – Like all other businesses, there are risks involved. Between general liability, property, worker’s compensation, and other liability issues, it is often difficult to know what you need. Speaking with your Business Insurance Center broker gives you the peace of mind you deserve.

Protect Your New Enterprise with Convenience Store Insurance from BIC

Enjoy your new adventure when you set up shop in a great location, follow a well-developed business plan, and have the added protection from a custom convenience store insurance program. The experienced brokers at the Business Insurance Center will discuss your specific needs and work to develop the right blend to cover all the bases. Start your protection today with a simple phone call!

Request a quote for convenience store insurance or call and speak with a knowledgeable and experienced broker at the Business Insurance Center. We have a 24/7 call center to serve you and an online Live Chat operator. Contact us for any of your business insurance needs at (888) 585-0511. We serve the entire United States.

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