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04-25-2010, 04:23 PM
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#26 | | To me, there is the Internet and there is RS
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Originally Posted by no_clue  7 cents per chocolate after expense + mortgage is pretty good IMO My parents paid it off now but I stated that since its the only number I can remember. How many employees do your parents have? Ours employs up to 6 during the day. Also im assuming that yours is a franchise gas station as well. Ours is just a c/mini grocery store, so although Wal-mart didnt kill us, we noticed a 8% decrease in sales of snacks, however most C-stores in the vancouver area has very little parking stalls besides 7-11 franchises. We also do deduct our suburban as a business lease, however it is a LTZ so it's price is similar to a ML. However we got audited by the CRA, and they were the ones who frowned, not the accountants. I assume your brother hasnt been audited yet, how he is going to explain how a ML500 is essential to his business? It has a tiny cargo space and he certainly doesn't need to impress clients with it as he is a C-store owner | We are not a franchise we own the land building and all the equipment the only thing Esso gives us is gas. We have 2 hired employees. As for the ML we go to Costco 3 times a week with it and the government has no right to question what vehicle we use as long as we use it for work. We haven't been audited because the government has no reason too but we also have nothing to hide.
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Until the lions have their own historians, the history of the hunt will always glorify the hunter.
Last edited by Manic!; 04-25-2010 at 04:49 PM.
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04-25-2010, 05:25 PM
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#27 | | Banned (ABWS)
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Is it just me or do only middle aged/older people get into this business? LOL. Why don't younger people go the C-store route out for 2 years as a learning experience before going into a bigger operation?
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04-25-2010, 05:31 PM
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#28 | | Banned (ABWS)
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If its of any consequence I am not buying a gas station, thats like 100X more than I can afford lol. I am also not buying any property. I am just buying the C-store business.
Thanks for your posts Manic! what other unconventional items does your c-store stock?
Also what are your guys' experience with shoplifting? how do you minimize this? what do you do when it happens?
I plan on putting a flower/plant display out front to attract more customers/to make the shopping experience more pleasant (the flowers/plants will also be fore sale). What do you guys think of this idea?
I want to do a display like what the European florists do (not this extravagant but you get the idea) 
Last edited by RollingStone; 04-25-2010 at 05:53 PM.
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04-25-2010, 07:05 PM
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#29 | | Everyone wants a piece of R S...
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Originally Posted by Manic! We are not a franchise we own the land building and all the equipment the only thing Esso gives us is gas. We have 2 hired employees. As for the ML we go to Costco 3 times a week with it and the government has no right to question what vehicle we use as long as we use it for work. We haven't been audited because the government has no reason too but we also have nothing to hide. | It was a random audit for us, you never know when the CRA will strike  . Im just saying, using a luxury brand for a c-store business use is pushing it IMO if they frowned on a chevy. Good advice about the turkey pan though.
To minimize shop lifting, CCTV usually is the normal route. Also having viligant employees is important. Keep in mind that employees can steal as well, especially the cashiers. Use those convex mirrors in the corners as well
As for flowers, the initial setup is kinda big. You may want refrigeration and must get a reputable florist to supply. Flowers die fast and the only time it you sell alot is holidays and graduation. You also need wrapping paper.
For just purchasing the business, consider the fixed cost and cash flow. Always keep in mind that most people sell their businesses because it is declining in revenue or owner is retiring. So you must have a good business plan to turn it around.
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04-25-2010, 09:47 PM
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#30 | | Rs has made me the man i am today!
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about the vehicle deduction..there is a cap on how expensive the car can be...
What I learned was that 30K is the max...the may have raised it since it's been a few years since I've taken tax..
I'm assuming you don't need to worry about employee theft because from what I've read, you're planning to run a small operation. From what I concur, you want a small shop in a higher end part of town. It's one where you can run with a family member or a business partner.
As well, a smaller shop gives thieves less chances to steal. At least it makes it harder to steal because you can always keep a close eye on whoever comes into your store. When you do find a location, make sure the aisles are running perpendicular to your counter/eye sight. Parallel aisles = more theft as the aisles will block your view.
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04-25-2010, 09:59 PM
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#31 | | Everyone wants a piece of R S...
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Originally Posted by waddy41 about the vehicle deduction..there is a cap on how expensive the car can be...
What I learned was that 30K is the max...the may have raised it since it's been a few years since I've taken tax.. | I believe that is for purchase, not lease
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04-25-2010, 11:11 PM
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#32 | | Banned (ABWS)
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Originally Posted by waddy41 about the vehicle deduction..there is a cap on how expensive the car can be...
What I learned was that 30K is the max...the may have raised it since it's been a few years since I've taken tax..
I'm assuming you don't need to worry about employee theft because from what I've read, you're planning to run a small operation. From what I concur, you want a small shop in a higher end part of town. It's one where you can run with a family member or a business partner.
As well, a smaller shop gives thieves less chances to steal. At least it makes it harder to steal because you can always keep a close eye on whoever comes into your store. When you do find a location, make sure the aisles are running perpendicular to your counter/eye sight. Parallel aisles = more theft as the aisles will block your view. | the layout idea is very useful TYVM, I ran out of thanks so I will thank you when i can lol.  | |
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04-25-2010, 11:21 PM
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#33 | | Banned (ABWS)
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Originally Posted by no_clue It was a random audit for us, you never know when the CRA will strike . Im just saying, using a luxury brand for a c-store business use is pushing it IMO if they frowned on a chevy. Good advice about the turkey pan though.
To minimize shop lifting, CCTV usually is the normal route. Also having viligant employees is important. Keep in mind that employees can steal as well, especially the cashiers. Use those convex mirrors in the corners as well
As for flowers, the initial setup is kinda big. You may want refrigeration and must get a reputable florist to supply. Flowers die fast and the only time it you sell alot is holidays and graduation. You also need wrapping paper.
For just purchasing the business, consider the fixed cost and cash flow. Always keep in mind that most people sell their businesses because it is declining in revenue or owner is retiring. So you must have a good business plan to turn it around. | Your posts are enlightening as always thank you! :P
As for the flowers, I am going to get them from the flower auction (direct from the growers) and I am not going to sell fancy bouquets, just simple flowers in singles, 6's, 12s, mix/match and small plants. I am targeted female impulse shoppers on the go or guys who pass by and want to get something simple for their GF's. What do you think of this idea?
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04-26-2010, 02:14 AM
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#34 | | Banned (ABWS)
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On a separate note, do you guys use a POS system? if not, how can you be sure your employees are not stealing from you? Thanks again!
Last edited by RollingStone; 04-26-2010 at 04:41 AM.
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04-27-2010, 12:40 AM
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#35 | | To me, there is the Internet and there is RS
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Forget the flowers. We tried it a few times and it never worked. Some days we would sell a few other days we would throw them all in the garbage. You will most likely end up losing money.
We use a POS and it makes serving customers a lot faster and you don't have to price every item. We don't use the POS for inventory control.
As for theft it happens just have to keep an eye out.
Employees can rob you blind, you have to on them at all times. It's not easy finding a good employee.
If you want to make money you have be their 7 days a week.
One think I hear about from people in the mainland is that there cigarette prices are a lot higher than what we sell them for. You should look at your competition and maybe sell for a bit cheaper. That would bring in a lot of customers. Probably 2 out of 3 adult customers we get buy cigarettes or some tobacco product.
Few things when looking to buy a C-store.
A lot of smaller c-store owners don't ring in all there sales to save the taxes. So his sales figures may seem low. Ask the owner on the side if he does that.
Imperial Tobacco (Players, Du maurier Peter Jackson ect.) do direct orders now. Meaning there rep comes in weekly to take the order and they deliver. Ask the owner if he can provide you the order sheets or have the owner to get the rep to get you info on how many cartons they order a week on average.
Stand in front of the store and count how many customers come in. Also see how much traffic goes by.
Check the prices make sure there not to high or to low.
If they sell roses in glass pipes do not buy.
no_clue I guess we are OK because our ML was not leased.
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Until the lions have their own historians, the history of the hunt will always glorify the hunter. | |
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04-27-2010, 02:04 AM
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#36 | | Banned (ABWS)
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Thanks for the great post Manic! 
What do you mean by roses in glass pipes? 
About cigs, are they a profitable item?
What items do you guys carry that have the highest markup?
What hours is your store open?
I want to only open 6 days a week, how much will that affect the bottom line? Thanks again!
Last edited by RollingStone; 04-27-2010 at 02:10 AM.
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04-27-2010, 02:14 AM
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#37 | | Banned (ABWS)
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Hey manic, do you have MSN?
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04-27-2010, 03:46 AM
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#38 | | 2013, 2016, 2017 & 2018 NHL Fantasy RS1 Champion
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Very interesting stuff! Thanks everyone | |
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04-27-2010, 05:24 AM
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#39 | | Banned (ABWS)
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Originally Posted by Jenson Button Very interesting stuff! Thanks everyone | use the thanks button also! :P
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04-27-2010, 03:11 PM
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#40 | | To me, there is the Internet and there is RS
Join Date: Apr 2004 Location: Nanaimo
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[QUOTE=RollingStone;6926946]Thanks for the great post Manic!
What do you mean by roses in glass pipes? You know what I mean.
About cigs, are they a profitable item? Yes because its a high volume item.
What items do you guys carry that have the highest markup? Grocery items and low volume items. People are not going to care If they have to bay a buck more for a bag of sugar.
What hours is your store open? 7 to 11 except Sunday were we open 8 to 11. Those times are not set in stone. If customers keep coming we wont close.
I want to only open 6 days a week, how much will that affect the bottom line? Thanks again! Do people only smoke or eat 6 days a week? If a customer runs out of smokes and your closed he will go somewhere else and might not comeback. It also depends on location. Our store is in an area with a lot of houses but if your downtown and your main customer is people working Monday to Friday you might get away from it but I think closing one day a week is just throwing money away.
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Until the lions have their own historians, the history of the hunt will always glorify the hunter.
Last edited by Manic!; 04-27-2010 at 03:18 PM.
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04-27-2010, 05:36 PM
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#41 | | Banned (ABWS)
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Thanks for the answers manic! You've convinced me to open 7 days week.
How do you guys manage your employees? How can you be sure they are not stealing money? What SOP's do you guys use?
Also, the place I am looking @ says they make $1000+ in lotto per month, I forgot to ask them to clarify. Do you think that means thats their profit from lotto or just gross sales? Thanks!
Last edited by RollingStone; 04-27-2010 at 07:38 PM.
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04-27-2010, 07:04 PM
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#42 | | Rs has made me the man i am today!
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^having cameras will deter theft
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04-27-2010, 07:56 PM
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#43 | | To me, there is the Internet and there is RS
Join Date: Apr 2004 Location: Nanaimo
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Originally Posted by RollingStone Thanks for the answers manic! You've convinced me to open 7 days week.
How do you guys manage your employees? How can you be sure they are not stealing money? What SOP's do you guys use?
Also, the place I am looking @ says they make $1000+ in lotto per month, I forgot to ask them to clarify. Do you think that means thats their profit from lotto or just gross sales? Thanks! | You got PM a on that one.
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Until the lions have their own historians, the history of the hunt will always glorify the hunter. | |
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04-27-2010, 08:02 PM
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#44 | | Banned (ABWS)
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Originally Posted by Manic! You got PM a on that one. | Did you PM the wrong person? I didn't get a PM.
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04-27-2010, 08:07 PM
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#45 | | To me, there is the Internet and there is RS
Join Date: Apr 2004 Location: Nanaimo
Posts: 16,012
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Originally Posted by RollingStone Did you PM the wrong person? I didn't get a PM. | Check now.
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Until the lions have their own historians, the history of the hunt will always glorify the hunter. | |
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04-27-2010, 08:29 PM
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#46 | | Banned (ABWS)
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Originally Posted by Manic! Check now. | Thanks, got it!
Would you mind sharing your insights on hiring/managing employees, in particular theft avoidance? Thanks! | |
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04-27-2010, 11:13 PM
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#47 | | Everyone wants a piece of R S...
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hiring loyal employees is very hard for a c-store as most will just work while they search for a real job so turnover is high. Or high-school students.
Remember there are certain things that are illegal to ask when interviewing. Everyone gets the temptation to steal money. As long as you have a proper float, it is pretty easy to identify the thief.
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04-28-2010, 12:33 AM
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#48 | | Banned (ABWS)
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Originally Posted by no_clue hiring loyal employees is very hard for a c-store as most will just work while they search for a real job so turnover is high. Or high-school students.
Remember there are certain things that are illegal to ask when interviewing. Everyone gets the temptation to steal money. As long as you have a proper float, it is pretty easy to identify the thief. | Do any of you guys have experience using POS system & hired help? As in, does the POS system software identify exactly how much cash (sales) is suppose to be in a till for Jane's shift so I can then just simply count the cash minus float and know if I am short or not?
Or do you guys use some other system of counting cash? Thanks!
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04-28-2010, 07:46 AM
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#49 | | HELP ME PLS!!!
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^ The most basic of POS system should allow you to identify the entire sale of the day. That's the least of your worries.
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04-28-2010, 04:53 PM
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#50 | | Banned (ABWS)
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OK, so I've found a store that I really like. And I'll probably be speaking with their agent next week. What are the things I should look for? What questions should I ask? Or any tips in general. Thanks guys!
P.S. I drive a Accord Coupe and my brother (business partner) drives a TSX. Do you guys think either is big enough to buy the groceries from Costco? I don't want to be running back and forth unnecessarily Thanks!
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