The average independently owned convenience store owner earns between $35,000 and
$75,000 per year. So think twice before you jump into ownership. Location is very
important.Many convenience stores are family owned and it becomes a lifestyle for the number of hours they put in since everyone helps to run the store.
The average gross sales volume for these stores is between $150,000 and $375,000 a year. Convenience stores that sell gasoline do much better with average gross store sales of roughly $475,000.
Calculating a percentage for the profit a convenience store makes can be difficult as the profit margins on items differ drastically. For example, cigarettes sales may generate about 14% profit, while, lottery sales may generate about 6%, depending on the state your store is in.
The average convenience store makes most of its revenue from, cigarettes, lottery and soft drinks or fuel. The simple formula is to calculate all expenses and minus them from your sales to get to your bottom line and then figure out the percentage.
To boost convenience store sales, set yourself apart from your competition. Customer service, cleanliness, merchandising and adding items not carried by your competitors will help.
Installing a customer bathroom, and adding a few tables and chairs will make your store more comfortable. While the addition of items like prepared food will increase your profitability.
Our staff has lots of experience with spotting the right location to grow a successful store. We can also help you buy a franchise.>