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Mischelle
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Hi,

It sounds like you have a firm grasp on your research, which is critical to your success – well done.

Also the location is the key, the nearer you are to as many residences as possible the better. Convenience stores near high rise apartments tend to be very popular.

If you are going to be situated in a more suburban environment ensure that adequate quick parking is available at the front of your store, so customers can stop and shop quickly.

Once you have found the location, that will help drive your stock decisions. Know the demographics of that area, and stock products to suit that along with the basic essentials.

FOR EXAMPLE: When I stay in Melbourne for business, I stay in China town as I love asian food, and all the Convenience stores stock a lot of Asian based basics.

ANOTHER EXAMPLE: In my inner Brisbane suburb there was a store on my street, which offered great coffee and quick quality takeaway breaky in the mornings and for the after school rush, they had a range of healthy small snacks for the mum runs from schools.

Cater for your demographic.

Good luck and all the best
Mischelle :)