Business Plan For Convenience Store

“I use a train station analogy - you need to know where you’re going, the right track, and what station you’re going to.And if things aren’t going where you expect, you need actions in place to get back on track.”Trevor Higgs, who runs the Essentials university store in Canterbury, Kent, agrees that a business plan is essential in order to map out the future of a business.“Our directors have a five-year plan, and I have a three-year plan, which I review quarterly,” says Trevor.

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“In its purest sense, the plan looks at where you’re going and how you’ll get there,” says Jim.

“I have a profit margin that I expect to achieve by adjusting pricing via epos.”Dean is currently using his plan to develop his business.

If this is an area you can’t adjust, then you can look to offset that change, for example by increasing your pricing.”Dean avoids any nasty surprises by sticking closely to his plan.

“One month it might show a big difference in stock purchase, for example, and you can ask yourself why you’ve spent an extra £5,000.

An army wouldn’t dream of going into a fight without a plan of action, and yet many independents are already on the battlefield that is the convenience sector without an inkling of where they are headed, or why.“Many people put a business plan together to get a bank loan, but then they put it away in a drawer and don’t look at it,” says Dean Holborn, who owns two stores in Redhill, Surrey.

“If they took it out and analysed it six months down the line, they’d find it very useful.” “You’ve got to have a plan,” concurs Jim Leese of Londis in Chorlton Down, Dorset.

For example, at the moment we’re looking at our food-to-go offering and the possibility of making baguettes in-store.

This is a goal we’re aiming to hit this quarter,” he says. It was initially Jim is using his plan to make cost reductions.

Having reviewed my plan I can see that bank charges are an area where we can save money”Daniel Wilson, Scarborough Jim’s plan looks 12 months ahead.

“You can’t just write any figures in the plan, you have to be realistic,” he says.