How much money do you need to open a convenience store?

[Slim]

Convenience stores are good business. The money they make off lottery commissions alone is crazy. Guy sold a $1 million dollar scratch ticket and he got $10K just for selling it. Might want to have a ** or ** as well.

[mlb]

few hundred thousand for sure

i dont know exact amount

will cost a bunch for your inventory

[doublej95]

Your question is like asking how much does it cost to buy a car? Many answers depending on what you want.

[Thunder Gulch]

A huge component of it is the real estate. You can buy some older stores for a few hundred thousand, but to develop one from the ground up with new equipment can run $2M.

[Ninersnut]

Depends on the franchise. Gotta go franchise or you will get buried.

[doublej95]

Your best option would to find one for sell. Its very expensive if you have to buy land, build, get tanks and etc.

[lemart5]

You want to have atleast $500,000 in free cash assetts sometimes you can buy a franchise like a BP of Exxon for $300,000 the other $200,000 you will need for vendors cost which shoulden't be that high .The only vendors you will probably have are Frito Lay Pepsi and maybe refrigerated sandwich company.Most of the other stuff you will have in your store will either be brought from Sams ,Walmart,or Costco then marked up 50%.Also you may want to set aside $25000 for the licences .

[sharpcat]

Just don't let this guy in your store He will steal all of your goods

[onetrickpony]

usually just 100-200k for the store. depends if u want to buy with the land which might run u close to 750k. they dont make that much money, dont buy one u sound like a dumbass basing it on the fact some guy won some amount on a scratch off.

[Mikail]

Convenience stores are a big headache. I know many associates of mine who have ventured down that road only to wan't out in a year or so. Most end up losing money.

[FuzzyDunlop]

Kid I went to college with bought one about three years ago, he kind of sandbagged the owner a little though. Again, can't really give a straight answer, but along with the property, you will have to buy the lottery license/liquor and beer licenses, some states also require a tobacco license. Gas is also key, you will make nothing on it, but the foot traffic is essential.

[doublej95]

My parents owned one in the early eighties and only kept it for about 6 years they made good money at it. But it was always hard to get good help that didn't want to steal or that would be reliable to work. They end up always working 14 -16 hour days and got burned out on it.

[ngates815]

Who would of thought most of SBR would be educated enough to give a estimate on how much needed to start up a convenience store.

hmm.

[Ninersnut]

Who would of thought most of SBR would be educated enough to give a estimate on how much needed to start up a convenience store. hmm.

yeah a bunch of finance guys in here.

[mlb]

well better than bs answers i guess if people have experience

[Doug]

A liquor store might be a lot cheaper/ easier.

[pavyracer]

It depends on the location.

[triqy]

location location location translates into $ $ $

[JMUplayer]

Open up a pawn shop..... a lot less headache.

[brxbmbers42]

takes about 400,000 to open a 7eleven. that doesnt include franchise purchase

[bostonboy]

no clue but you have to factor in the fact that mathy educated the entire board how to rob convience stores blind...

[suman]

This is a really good question but i would say atleast 400k

[unusialsusp5]

you must be of asian descent or you cannot open a convenience store. preferrably from india or pakistan. there are only 7 american born convenience store owners left.

[jjgold]

I guess the $400,000 number is pretty accurate

[shaggy3000]

A liquor store might be a lot cheaper/ easier.

thats what im looking to do here in atlanta or near a mid-size college. dont know that its much cheaper tho. a liquor lis. is very expensive for a start up company. im actually trying to figure out how to go about starting this up as well. i just got out of college and dont know much about how to get a loan from a bank.

If someone here has started a business and has some real information on how to create a business model for a liquor store ( or something similar ) and the best way to approach a bank for a small business loan please PM me!

[jnickell100]

Im not exactly sure the amount. But my grandparents owned and operated a gas station for years and years. They had a little deli inside and i think that did pretty well for them. As far as the gas, someone already said you dont make anything off the gas. I was told they only made a couple CENTS per gallon, but it gets people in the door.

They did pretty well for themselves, it was their main income and are pretty wealthy. Its not a franchise, it was started by them. They sold it before my grandpa passed away but my grandma lives a pretty good lifestyle with the profits.

[eidolon]

BP/AM-PM:
Cash Required: $250,000 - $900,000
Investment Range: $3,000,000 - $3,500,000
Business Type: Franchise
Financing: 3rd Party

7-11:
Cash Required: $70,000
Investment Range: $65,000 - $227,000
Business Type: Franchise

[lemart5]

Moos people who co
e here own this stores because of the tax breaks they get .If you would notice a store in your neighborhood that you go to almost everyday changes ownership after 5 years it means the ta breaks have expired.Those stores tend to stay in the family as they continue to take advantage of the tax breaks to get richer .

[mikejamm]

Convenience stores are a big headache. I know many associates of mine who have ventured down that road only to wan't out in a year or so. Most end up losing money.

==================
Yeah, that's because you fuk'ers have bought up most of them and run them completely into the ground! Muslim owed convenience stores are the filthy, nasty rip offs and don't stock shit! They steal lottery winning tickets from people and most of them are just fronts for terrorist organizations to laundry money and get a tax write off! Real Americans know better than to do any business at these shit holes!

[WvGambler]

Now that we have legalized table gaming and gambling here in the great state of WV, the thing to buy are gambling parlors. @ssholes set up little buildings that sell coffee and throw about 10 video poker machines in there. I know this is common practice in many parts of the country, but WV just passed those gaming laws in the past 5-6 years. There are probably 20 of those little buildings in town now, and a new one going up every week.

[C-Gold]

You are buying a job

You could open a subway for as low as 70,000
I think a 7-11 is about 70,000 min
I think you could do a papa johns for about as low as 100,000
A Mcdonalds is about 500,000

Be careful though, some of them ( like Mcdonalds) you have to work at and you need to have worked at a Mcdonalds for 5 years. 500K is the absolute min, it's more like 2 million. Other franchises like Subway you could hire a manager to manage it for you.

#1 franchise in America is 7-11
#2 franchise in America is Subway

[goofyre]

My dad opened a convenience store when I was a kid and was very successful. If you want to be successful with it, pay your help good and oversee things often.

[FuzzyDunlop]

You are buying a job

You could open a subway for as low as 70,000
I think a 7-11 is about 70,000 min
I think you could do a papa johns for about as low as 100,000
A Mcdonalds is about 500,000

Be careful though, some of them ( like Mcdonalds) you have to work at and you need to have worked at a Mcdonalds for 5 years. 500K is the absolute min, it's more like 2 million. Other franchises like Subway you could hire a manager to manage it for you.

#1 franchise in America is 7-11
#2 franchise in America is Subway

The local franchises are the way to go, lower risk amount with potential for a much larger score. My friend bought his convenience store by getting involved with a local pizza chain that at the time had about 15 stores, 10 years later it has 30, nothing crazy, just good pizza, cheap slices etc. He bought the right to open three franchises in the three other college towns and then just sold a buyer.

[dngf]

Might try SBA financing. This could qualify for a 7a loan, a loan that is substantially guaranteed by the US Government. You will need experience, equity for down payment and start up costs, business plan. You can get lots of info on these loans from sba.gov. Lots of good advice and comments above.

[shaggy3000]

best think right now that seems to be growing is Zaxby's ( spelling ) i never see them close and they arent so large that youll have to worry about another one near by