Any convinience/regular store owners here?

[Martin]

My parents are thinking of buying a store, but naturally, they're worried about the risks. I am trying to convince them to buy it, since it could be a great opportunity for them, and I was just wanted to see if anybody here has some advice I could give them? Like, how do you attract more customers? Which products sell the most? Which have the biggest profit margins? Any good suppliers, or ways to find cheap suppliers?


In case you were wondering the store is about 200m^2 (~2000ft^2), though that includes the basement for storage. It's situated on a major street in the older part of down (the neighbourhood is from the 30s and 40s). Danforth street for those familiar with Toronto.


Any help would be appreciated.

 

[Mrfrog840]

sell beer for cheap. youll get lots of people

 

[wyvrn]

Install bullet proof glass around the counter. I am not kidding, too many psycho people around.

 

[Martin]

Originally posted by: Mrfrog840
sell beer for cheap. youll get lots of people

Stores in ontario can't sell alcohol, that's done by the LCBO (alcohol store) an Beer Store. Funny you should mention that. My dad was vexed that the government controls alcohol here. He wanted part of the store to be a true deli. Buy some meats, chese and a bottle of wine....

 

[HappyPuppy]

Do your parents have any background in retail or deli?

 

[Martin]

Originally posted by: HappyPuppy
Do your parents have any background in retail or deli?

Kinda - they both worked for resturants when they came here, so they are very familiar with how such businesses are operated. Also, they know how to make deli-type things (smoked/dried meats, salads etc).