Convenience store??

[Dogandgunner]

Anyone owned a take away?convenience store??? are they profitable?easy for a couple to run?

thinking of buying one but dont know anyone thats ever owned one

any info on the subject would be great

 

[Captain Kickass]

Without owning anything (yet), I come from a strong retail background ... I'm trying to imagine what would concern me if I entered into it.

They look viable enough, but it largely depends on the foot traffic you can capture.

For mine, (a) managing the numerous lines of product from the numerous suppliers seems to be the obvious tricky bit, followed by (b) finding reliable staff that wont just up and leave ... it's really hard to get good reliable staff these days.

The good bit is you're not necessarily subject to Xmas/seasonal trade pressure that other retailers are.

 

[Dogandgunner]

its in a town that has a woolies coles etc, but its on a different area to those stores and is beyond walking distance to those stores and is good for people who have forgotten things while shopping, its attached to a 3 bedroom house so it means only 1 loan which is good.

next to a school so good foot traffic and avialable at a good price a touch under $300,000 so very affordable.
We just want a business were we earn roughly what we do do now or more, which isnt hard im a chef the wife is in retail

 

[Captain Kickass]

I know it's difficult talking about it without giving away where it is ... I want you to have your privacy here too.

Without knowing what suburb, or what's near by, and going by the little we have to deal with, it sounds like it's either a 7/11 or an old-school milk-bar. Some flags have gone off, but at the same time some opportunities are visible.

Likes
- School hour trade Mon-Fri (that's 4 terms / 40 weeks of crowds)
- Opportunity to diversify into fast-food/take-away/sandwiches (room for Hot Chips, chickens, burgers, etc ?), or cafe/cakes (how good are you at those Mr.Chef ?) or sub-newsagent/lotteries.

Dislikes
- Location away from weekend shopper crowds (is there a sports field nearby with hundreds of soccer mums on Saturdays to help with this ?)

 

[Dogandgunner]

I know it's difficult talking about it without giving away where it is ... I want you to have your privacy here too.

Without knowing what suburb, or what's near by, and going by the little we have to deal with, it sounds like it's either a 7/11 or an old-school milk-bar. Some flags have gone off, but at the same time some opportunities are visible.

Likes
- School hour trade Mon-Fri (that's 4 terms / 40 weeks of crowds)
- Opportunity to diversify into fast-food/take-away/sandwiches (room for Hot Chips, chickens, burgers, etc ?), or cafe/cakes (how good are you at those Mr.Chef ?) or sub-newsagent/lotteries.

Dislikes
- Location away from weekend shopper crowds (is there a sports field nearby with hundreds of soccer mums on Saturdays to help with this ?)

Its a corner store/takeaway easy stuff burgers, chips fish etc simple but cost effective

it is away from the crowds but near a golf course and a lot pensioners that wont go into to town to do shopping

 

[Captain Kickass]

Sounds like my cup-of-tea ... all the best either way you go.

:thumb:

 

[Bad Billy]

A mates inlaws own a takeaway shop (so I'm an expert) and he reckons its a goldmine ! Its all about location. In an industrial area (tradesman) or near a beach or park where people may go out for a bit and end up staying all day. The other option is a specialist store ie: Arabic, Asian or continental but again they have to be in the right area. (not an Arabic store in cronulla)

 

[The-Game]

And importantly is the finacial side, that your able to keep up with product, not undersell things, but no overprice things which turns people away. But location is definetly a key factor, specially if its somewhere everybody can see it, with easy access. and obviously making it visible to, if there is just a little sign on the wall people will just walk by. But goodluck with it i hope it all works out for you and your wife.

 

[dogkat]

The one negative that comes to my mind might be the long hours? If you and your wife are planning to be the main staff, you might be tying yourself to the shop and unable to have a day off.

 

[Dogandgunner]

i work as a chef 6-7 days a week, with no nights off, i would get more time off owning my own store lol

 

[PantherPower83]

When I pay $4 for a 600ml bottle of water, you bet its profitable!

 

[Alan79]

I'd do a stakeout on the place for a day or two and see how many people use the store before investing. If theres not much foot traffic entering the store might not be too profitable to begin. Dogkat is right about the possibility of it becoming an even more fulltime job than being a chef. You'll also have to run the accounts etc which could take up a decent chunk of time.

 

[suiker]

Get a (good) accountant to look over the financial accounts for the past few years. Find out what your breakevens would be and how realistic it'd be. Some stores are good, some are bad.

 

[Hansta]

dogandgunner are you Soliola by any chance?