Creating Customer Experiences, Not Transactions

Posted on Apr 9, 2019 in Articles | 0 comments

Recently, I spoke for the sixth time at the M-PACT Show, which is the largest gathering place in the Midwest for energy and convenience industry leaders.   It is one of my favorite places to present.  This year’s presentation was called There’s a New Store in Town – Are You Ready for the Disruption?   This was a brand new presentation and it covered a myriad of topics – with examples from both inside and outside the energy industry – from operations to merchandising to store design. One area that was prevalent throughout the...

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Know the Full Advantages of Foodservice Technology

Posted on Feb 15, 2019 in Articles | 0 comments

With every passing day, month and year, better for you foodservice options continue to infiltrate the convenience store industry.  Slowly but surely, the convenience store industry is broadening its foodservice options for customers that rival restaurants.  In fact, according to Nation’s Restaurant News“Wawa, Sheetz, Casey’s General Store, 7-Eleven and Circle K” have now cracked their 2018 Top 100 restaurant report.  That is quite the achievement for the c-store industry.   It is only a natural progression that technology is continuing...

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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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