STARTING AND MANAGING A CONVENIENCE STORE: A BEGINNER’S GUIDE

1 Day Online Course Outline, Course Objectives, and Scheme of Work: Starting and Managing a Convenience Store: A Beginner’s Guide

Course Title:

Starting and Managing a Convenience Store: A Beginner’s Guide

Course Duration:

1 Day (6-8 hours, delivered online)

Target Audience:

Aspiring entrepreneurs, individuals looking to start their own convenience store, or those who have just begun operating one.

Course Objectives:

By the end of this course, participants will be able to:

1. Understand the fundamentals of setting up a convenience store.
2. Learn how to develop a business plan for a small retail store.
3. Gain insights into sourcing products, pricing, and managing inventory.
4. Understand the financial aspects, including budgeting, cash flow, and profit margins.
5. Learn effective marketing and customer service strategies for a convenience store.
6. Comprehend the legal and regulatory requirements for starting and operating a store.
7. Understand day-to-day store management and staff supervision.

Course Outline and Scheme of Work

Session 1: Introduction to Starting a Convenience Store (1 hour 30 minutes)

• Objectives:

  • Understand the basics of convenience store operations.
  • Explore the steps required to set up a store from scratch.
  • Learn how to choose the right location and target market.

• Topics Covered:

  • Overview of the convenience store industry and current trends.
  • Choosing the right location and understanding your target audience.
  • Evaluating competitors and identifying a unique selling point (USP).
  • Key factors in setting up a convenience store: Equipment, shelving, and layout.

• Activities:

  • Practical task: Participants research and present potential locations for their store.
  • Group discussion: Identifying challenges in setting up a store from scratch.

Break (15 minutes)

Session 2: Business Planning and Financial Management (1 hour 30 minutes)

• Objectives:

  • Learn how to create a business plan tailored to a convenience store.
  • Understand the financial aspects of running a small retail store.
  • Gain insights into budgeting, profit margins, and cash flow management.

• Topics Covered:

  • Writing a business plan: Vision, mission, goals, and operational strategies.
  • Financial planning: Budgeting, managing start-up costs, and forecasting.
  • Calculating profit margins, managing cash flow, and handling daily expenses.
  • Evaluating funding options for small retail businesses.

• Activities:

  • Practical task: Participants draft a basic financial plan for their store.
  • Group discussion: Participants share budgeting strategies and financial concerns.

Break (30 minutes)

Session 3: Sourcing Products, Pricing, and Inventory Management (1 hour 30 minutes)

• Objectives:

  • Understand how to source products for a convenience store.
  • Learn effective pricing strategies for different product categories.
  • Gain skills in inventory management to reduce waste and optimize stock.

• Topics Covered:

  • Sourcing products: Working with wholesalers and suppliers.
  • Key product categories for convenience stores: Groceries, snacks, beverages, household items, etc.
  • Pricing strategies: Competitive pricing, discounting, and profit maximization.
  • Inventory management: Stock control systems, monitoring stock levels, and reducing shrinkage.

• Activities:

  • Practical task: Participants create a mock product list and pricing strategy for their store.
  • Group discussion: Challenges in inventory management and effective solutions.

Break (15 minutes)

Session 4: Marketing, Customer Service, and Day-to-Day Operations (1 hour 30 minutes)

• Objectives:

  • Learn marketing strategies for attracting and retaining customers.
  • Understand the importance of customer service and building loyalty.
  • Gain insights into managing daily operations, including staff supervision and store maintenance.

• Topics Covered:

  • Marketing your store: Local advertising, social media, loyalty programs, and promotions.
  • Customer service essentials: Building relationships with regular customers.
  • Day-to-day store management: Cash handling, supplier orders, staff scheduling, and maintenance.
  • Managing staff: Hiring, training, and supervision.

• Activities:

  • Role-play exercise: Participants simulate customer service scenarios.
  • Practical task: Participants create a marketing plan with a focus on local engagement.

Assessment:

• Continuous assessment through practical tasks, group discussions, and presentations.
• Final task: Participants create a basic business plan outlining their strategy for starting and managing a convenience store.

Resources:

• Digital handouts on writing business plans, pricing strategies, and marketing tips.
• Suggested reading: Articles on running a successful convenience store and effective inventory management.

This 1-day online course provides aspiring store owners with essential knowledge on setting up and managing a convenience store, covering key areas such as financial planning, product sourcing, inventory management, and customer service. Participants will leave with a practical business plan and actionable strategies to launch their convenience store successfully.