Business Plan For Convenience Store

Some of the key point indicators in Jim’s business plan include: the level of sales, profit margin and outgoings.“With some things your hands are tied, such as licensing requirements, legislation, and health and safety.” However, in other areas he claims it can be possible to reduce costs to keep things on an even keel.“An ageing workforce is great because the staff have maturity and experience, but the fact is that they’re over 60 and they may be thinking about retiring.

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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.

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.

“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.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.You then have to question whether there are good reasons why it has changed.Sometimes it might increase because the staff are doing longer shifts because the store is busy.I am hoping to achieve a 70% reduction in banking costs, meaning a saving of about £9,000.”Cutting costs is also on Trevor’s agenda.“We look at a range of areas across the business, including staff training, ranges, and pricing.Our staffing costs are quite high as the staff have been here a long time and are all on maximum wage,” he says.However, he is already planning how to address this .“A business plan reminds you what you’re aiming for and helps to keep your stores in check.Having reviewed my plan, I can see that bank charges are an area where we can save money,” he says.

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