8 Ways to Run a Successful Convenience Store
November 25, 2021
In this competitive economy, convenience stores are struggling more than ever to compete with large companies that have endless supplies to help supplement large workforces and cutting-edge technology. However, if you own a convenience store, you're not helpless. You can do countless things to make yourself a competitor, even with the big guys in the ring. In this blog, we'll be discussing eight ways to run a successful convenience store.
Keep It Clean
Keep everything clean. From floors to counters and even the parking lot, employees should clear everything of dirt, dust, or trash. First impressions are everything and a significant part of the buying experience. Make sure everything is well stocked, too. Do the bathrooms have enough toilet paper, paper towels, and soap? We know it's hard to keep up with each location in your store, so you may need to set an alarm or create a chart to ensure that each area of your store is addressed promptly.
Place Displays Intelligently
You don't want to overload the checkout counter with displays. There's a fine line you want to walk. Add too little, and there won't be enough variety for a customer to feel like they have a choice in what they buy but add too many, and the customer will feel overwhelmed and won't touch a thing. The checkout counter is prime real estate for impulse items or small items that can be bought quickly because they're cheap and have a purpose. Once you learn which items are the best sellers, make room for a clean display of those products. All other displays can go in high traffic areas of the store.
Keep It Convenient
Your goal is to provide a streamlined experience that allows customers to walk in and purchase whatever product they're looking for quickly and straightforwardly. To do this, you need to ensure that you have ample stock of various drinks, snacks, candy, and other items that people can purchase with ease. Think about how the aisles are stationed around the store to allow for easy movement. And don't be afraid to invest in what you have. If creating a streamlined experience means investing in more human resources, remember a return on investment. The more people talk about the convenience of your store, the more people will visit. By gifting your customers time, they'll feel much more compelled to give you their business as they feel like they've already won.
Work With Your Suppliers
In the convenience store game, suppliers are your key to success. You're dependent on their products and support, but they also depend on your business. Piggyback off their efforts and marketing assets because your success is their success. As for in-store material, possible promotions, or any public relations initiatives you can support will do wonders. A customer associating you with a brand they already know and trust builds up your credibility. This associating will also improve your relationship with your supplier, making your relationship smooth and profitable.
Know The Trends
Convenience stores often lose shoppers by failing to establish loyalty and deliver what the customers want. Be aware of changes in your customer's lifestyles and new trends that they may be following. This mindfulness means keeping up to date by researching what your average customer is looking to purchase on a day-to-day basis. For example, Americans are more health-conscious than they've ever been. Many customers are looking for healthier food and drink options and lifestyle products that make them feel like they're taking care of themselves. Find a way to work this trend into your brand. To do this, you'll have to partake in market research, not just by observing your sales but by dipping your toe into several different industries simultaneously. This will give you an edge on the game and help make your convenience store more successful.
Use Retail Fuel & Diesel Services
Did you know that 80% of the total fuel sold in the United States comes from convenience stores? By partnering with a fuel service provider, logistically, you'll be helping yourself manage and stabilize costs. This management and stabilization of expenses will help you meet the customers' needs without breaking the bank.
When you think about all the positive reasons, partnering with a retail fuel service seems like the obvious choice. A practical and high-quality fuel distribution program will meet the customers' needs, which means that your tanks won't run out of gas when your customers need it the most. Retail fuel services can also provide emergency deliveries and rerouting services. These services ensure that you get the fuel you need even outside of regular operating hours.
Invest In Your Store
A clean and functional store design, security cameras, electronic door systems, and attractive displays will ensure people return to your convenience store. Store aisles should be broad and shelves organized, so shoppers don't have to hunt for what they want. Again, you'll want to keep everything clean and well-lit to ensure the safety of all your customers and employees. Speaking of employees, invest in a qualified crew that is open to training, on time, friendly, and knowledgeable about your convenience store's stock. Also, provide a fair wage and reward above-and-beyond customer service. This incentive will keep employees motivated, and a motivated employee works harder and drives sales through the roof in the process! Investing in your store may seem a little scary when you're first starting. Still, it's worth creating a safe and enjoyable environment for everyone who interacts with the location.
Do More with Less
In today's increasingly competitive retail environment, brands can't afford to misunderstand their customers. As we already mentioned, many convenience stores lose traffic because they don't take a close enough look at what the customer wants. Simply acquiring new stores isn't enough to boost a company's market share. Improved operations start with honing current processes. Doing things wrong on a larger scale doesn't fix the problem; it only makes it worse. Store brands must recalibrate their approach to earn everyday customers' attention. Create a best practices protocol that places the happiness of customers at the top of the list. Whether you have one store or ten you need to manage; having a best practices protocol will help ensure that, on a base level, you are doing what you're supposed to do to ensure success. Once you've mastered this, then you think about expanding your brand or implementing new technologies.
Partner With Home Service Oil
Do you or someone you know own a convenience store? Do you need a reliable bulk fuel supplier? As mentioned in this blog, there are many different reasons why you should use a bulk fuel supplier. If you need any more convincing, check out our blog on why bulk fuel supply benefits businesses. If you are interested in learning more about what we offer, visit our website today!