In: Business and Management

Submitted By ariesmar
Words 1166
Pages 5
1. 2. -------------------------------------------------
Decide whether you want to start your store from the ground up or buy into a franchise. A lot of money may be required in either case, but franchising may be easier in terms of marketing, advertising, and other setup tasks. You will likely have to pay a franchising fee out of your profit, but this may be considerably easier than doing everything on your own. 3. -------------------------------------------------
Develop your business and marketing plans, regardless of whether you are opening your own convenience store or a franchise. Though it may be slightly different for a franchise in that you don't need your own marketing ideas and you have business practices outlined for you, these documents will typically help you secure funding. If you don't have them at all, you may run into difficulty securing the required capital. 4. -------------------------------------------------
Secure the required funding. Your franchise may require a certain amount of funds available to start the business as well as a certain amount of capital in savings to protect the business from failure. The exact amount will vary based on many factors, including whether you are purchasing or leasing the building and if you are converting another building into a convenience store or using one already designed. 5. -------------------------------------------------
Obtain the necessary licensing, permits, and insurance required to run your business. Make sure you are in compliance with all local, state, and federal guidelines. The insurance will protect you from theft as well as help provide worker's compensation if an employee is hurt on the job. 6.…...

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