Six Things to Know Before Your Next C-Store Purchase
- Financing. “In these challenging economic times, getting financing for your convenience store purchase can prove to be very difficult.
- Equipment Calibration. For a high percentage of c-store locations the fuel pumps are calibrated incorrectly.
- Purchase Contract.
- Down Payment.
Moreover, what should I look for when buying a shop?
A few factors that you should keep in mind to buy a shop for retailing:
- Choose the appropriate location: When you know the kind of space you require, you'll need to discover it in the ideal area for your business.
- Fully understand your lease or contract:
- Exterior and Interior:
Also, what should I look for when buying a gas station?
10 Things to Look for when Buying or Leasing a Gas Station
- Branded or Unbranded?
- Get help if you need it.
- Examine what you will inherit from the previous owner.
- Consider all aspects of your location.
- Ensure access for potential customers.
- Understand competition and demographics.
- Keep in mind the safety of the area and the station.
How much money do I need to open a convenience store?
The startup costs for a convenience store can range from as low as $10,000 to well over $1 Million, so do your research and consider the costs of business in your area to determine your own budget.
Is a convenience store a good investment?
The convenience retail sector demonstrated yields of 4.5% to 4.9% for prime investments and 5.5% to 7.5% for secondary investments in the first half of the year, according to the UK Alternatives Investment Index: H1 2019 report.