Designing Your Customer-Driven Foodservice Operation

Posted on Oct 1, 2018 in Articles | 0 comments

Recently, I spoke at the Florida Petroleum Marketers Association on Developing a Winning Foodservice Strategy and the same holds true – foodservice is where it’s at in the convenience store industry.  The industry is not only competing against one another but with the casual and fast food industries as well.  Every passing day, consumers continue to raise the “expectations bar” on c-store operators with regard to food. With every Panera and Chipotle restaurant that opens in your marketplace, the consumer sees foodservice in a completely different light.  Here’s how to approach...

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Sales Forecasting Basics

Posted on May 22, 2018 in Articles | 0 comments

A while back, a gentleman that wanted help selling his company approached me.  I listened to him describe all the attributes of his company and I was intrigued.  He gave me an overview of the past, present and future and I asked him “So, what do you hope the purchase price to be?”  He looked at me and said “$5 million”.   I then asked, “How did you come up with that figure?”  He looked at me and said with a straight face “It is a nice round number”.  I paused and said, “So is $100 million.” The point of the story is he had no idea what the value of his company was...

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Conducting a Foodservice Focus Group

Posted on Nov 6, 2017 in Articles | 0 comments

Convenience store operators continue to plunge into foodservice with the hopes of stemming the tide of lower margins with high-margin foodservice offerings. While the degrees of foodservice can vary greatly from chain-to-chain, the approach to introducing foodservice into your operation should not be left to chance. Gaining a better understanding of your foodservice customer can sometimes be the difference between making your store profitable or just wallowing in a “me-too” foodservice program. One way to gain valuable insights into your customers is to conduct a focus group with some of...

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Retail Real Estate Site Evaluation Form

Posted on Oct 23, 2017 in Articles | 0 comments

Evaluating new retail sites for the multi-unit operator can be a daunting task. The operator is constantly chasing a number of potential opportunities only to have a few select sites come to fruition. Complicating the site selection process is generally a lack of an evaluation tool that can be used for all departments providing consistency throughout the decision-making process. This evaluation tool should address all of the components of the site – location, build-out costs, landlord terms, a financial Proforma, etc. – in order to provide a complete assessment of the property. Below are...

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Operationalizing Your 2018 Business Plan

Posted on Sep 26, 2017 in Articles | 0 comments

“The Nice Thing About Not Planning Is That Failure Comes As A Complete Surprise Rather Than Being Preceded By A Period Of Worry And Depression.”  — Anonymous Operationalizing your 2018 business planning is a step-by-step process of action, reaction, and counteraction for visualizing the execution of your business plan in relation to your competition.   Business managers must determine how to apply step-by-step procedures to improve the possibility of overall success and minimize risks of failure. The manager must be prepared to examine their personnel, processes and goal...

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A Strategic Process for Site Planning

Posted on Sep 18, 2017 in Articles | 0 comments

Real estate site selection can be a complex web of evaluating store attributes within a potential store trade area. The process utilizes both a science and an art to the overall selection process combining a number of factors that weigh on the viability of the location. Complicating the process is that each location has its own special attributes, which makes site selection more directional in nature as opposed to a cookie-cutter process. That being said, here are some key attributes that should be considered in the overall evaluation: Traffic Counts – While these are clearly site specific...

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