Revenue and Profit in Convenience Stores
Convenience stores generate about $616 billion annually in the United States, equaling about $4 million in annual sales per store. Of this, $1.7 million were in-store sales. Average net profit is $60,000 to $100,000 annually.
Tips for Profitability
- Identify target market
- Price correctly with good selection
- Maintain an excellent, clean store with clear pricing and signage
- Find high-traffic, visible location
Factors Affecting Profitability
- Products sold
- Location
- Store size, product range, and reputation
Startup Costs and Efficiencies
It can cost up to $100,000 to start a US convenience store. Reducing costs by trimming staff and hours can increase profits.
Global Opportunities
Convenience stores have lucrative opportunities worldwide. Profitability can be achieved with the right location, stock, and pricing.