C-Store Connect May 2025

C-STORE CONNECT c o n v e n i e n c e

r e t a i l

m a g a z i n e

MAY 2025

SMART GROWTH smart moves The Numbers Game

Financing C-Store Expansion

Understanding Tax Implications When Selling Your Store

Acquiring vs Building

Which is Right for You?

Expanding Your Empire Strategies for C-Store Owners

THE POWER OF COLLEC TIVE

C-STORE CONNET MAGAZINE

CONTENTS

THE NUMBERS GAME

46

3

LETTER FROM THE EDITOR

8

MULTI-STORE MASTERY

14

EXPANDING YOUR EMPIRE

20

ACQUIRING VS BUILDING

26

FROM OWNER TO OPERATOR

34

KNOWING WHEN TO SELL

40

UNDERSTANDING TAX IMPLICATIONS

46

THE NUMBERS GAME

50

SMART GROWTH SMART MOVES

FINANCING EXPANSION

14

EXPANDING YOUR EMPIRE

40

UNDERSTANDING TAX IMPLICATIONS

FROM OUR EDITOR

20 ACQUIRING

Dear Readers, This month, we’re diving deep into *Smart Growth Strategies*—helping convenience store owners navigate expansion, franchising, and maximizing their business value.

VS BUILDING

The c-store industry is evolving rapidly, with new opportunities emerging for independent operators and franchisees alike. Whether you’re looking to expand your footprint, acquire an existing store, or even cash out at the right time, this issue is packed with insights to guide you through the process.

Our experts break down the decision-making behind acquiring vs. building new locations, share strategies for managing multiple stores efficiently, and explore the franchising path—either as a franchisee or by franchising your own brand. And if you’re considering selling, we’ve got you covered with advice on maximizing your store’s value and understanding the tax implications.

SMART GROWTH SMART MOVES

50

Growth is an exciting but complex journey. We’re here to provide the knowledge and strategies to help you succeed.

Here’s to smart, strategic growth!

Warm regards, Editor-in-Chief, C-Store Connect Magazine

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Multi-Store Mastery How to Manage Multiple Locations Effectively Expanding from one convenience store to two, three, or more is a major milestone, but it also comes with an entirely new set of challenges. Running a single store is one thing—you know every employee by name, you’re familiar with every shift, and if something needs fixing, you’re there to handle it. But once you expand, you’re no longer just a store owner. You’re running a network, and that means you have to shift from managing one business to managing multiple businesses at the same time. It’s a different mindset, and if you don’t have a solid plan in place, things can start slipping through the cracks before you even realize what’s happening.

The good news? Plenty of c-store owners have successfully made this transition, and they all have one thing in common: they don’t just work in their business— they work on it. That means putting the right systems, people, and strategies in place so that every location runs smoothly, whether you’re physically there or not.

Mastering multi-store management isn’t about being everywhere at once. It’s about building a structure that allows your business to thrive no matter where you are.

8

C-STORE CONNECT MAGAZINE

Success is built on community... it’s about people, decisions, and the ability to adapt and grow.”

Building the Right Team to Lead Each Store If you’re expanding, you can’t be the one handling everything anymore.

That’s one of the hardest things for many owners to accept—after all, nobody cares about your business the way you do, right? But if you try to be the person solving every problem, approving every decision, and putting out every fire, you’ll stretch yourself too thin, and something (or everything) will suffer. The only way to scale effectively is to build a team you trust, starting with strong store managers who can handle day-to-day operations without you needing to micromanage.

A good store manager isn’t just someone who shows up on time and knows how to stock shelves. They need to be leaders—people who can motivate their team, solve problems on the spot, and uphold your store’s standards even when you’re not around. Finding the right managers isn’t always easy, and in many cases, it makes sense to promote from within. Someone who already knows your store, understands your expectations, and has proven they can handle responsibility is often a great candidate for a management role. But whether you’re promoting

from within or hiring from the outside, training is everything. If you want your managers to run things the way you would, you need to invest time in teaching them your processes, your expectations, and your company’s culture.

Once you have the right managers in place, your role shifts from being the person who does everything to being the person who supports everything.

Regular check-ins, leadership training, and clear communication keep everyone aligned, ensuring that your stores don’t just function—but thrive.

Keeping Inventory Under Control Across Multiple Locations Inventory management is a challenge for any convenience store, but when you’re running multiple locations, it becomes even more complex. You might have one store that sells out of a particular item every week, while another barely moves any of it. Some locations might deal with more theft or shrinkage than others. And when you’re ordering for multiple stores, it’s easy for overstocking and understocking to become a problem—both of which eat into your bottom line.

The key to mastering inventory at scale is having a system that tracks

sales trends and stock levels in real time. This isn’t something you can do effectively with handwritten logs or by “eyeballing” the shelves anymore.

Cloud-based inventory software allows you to see exactly what’s moving, what’s sitting, and what needs to be adjusted—across all your stores— from anywhere. Instead of relying on guesswork, you can make data-driven decisions about ordering, pricing, and promotions, ensuring that every location stays stocked with what customers actually want.

Beyond technology, consistency in vendor relationships is also crucial.

The more stores you have, the more leverage you have when negotiating prices and terms with suppliers. A strong vendor partnership means better pricing, priority deliveries, and even potential discounts for bulk purchasing. But just like with managers, these relationships need to be maintained— regular communication, clear expectations, and a willingness to adjust when needed all play a role in keeping inventory flowing smoothly.

Using Technology to Stay in Control Without Being Everywhere at Once One of the biggest concerns for owners with multiple locations is the feeling

C-STORE CONNECT MAGAZINE

9

of not being able to “see” everything.

When you’re used to being in one store every day, knowing exactly what’s happening, it can be unsettling to suddenly have stores operating without you there to oversee them. This is where technology becomes your best friend.

Surveillance systems, cloud-based POS systems, and mobile-accessible management software allow you to monitor sales, staffing, and security in real time—whether you’re in another store, at home, or even on vacation.

Instead of relying on secondhand reports, you can log in and see exactly how each location is performing, track transactions as they happen, and even review security footage if needed.

This level of visibility doesn’t just give you peace of mind; it also helps you spot issues early. If one store’s sales are dipping unexpectedly or inventory numbers aren’t matching up, you can catch the problem before it turns into a bigger issue.

That said, technology should support your team, not replace them. No amount of software can substitute for good management, strong training, and a solid company culture. But when used correctly, technology allows you to manage multiple stores with the 10

C-STORE CONNECT MAGAZINE

same attention to detail that you once gave to just one.

Maintaining Quality and Customer Experience Across Every Store One of the biggest risks of expansion is inconsistency. When you only have one location, you set the tone for how everything runs. But with multiple stores, the customer experience can start to vary depending on who’s working, how well a manager is performing, or even what kind of day your staff is having. If customers walk into one location and get excellent service, but another store feels disorganized or unprofessional, it hurts your brand as a whole.

The only way to prevent this is to have clear, enforceable standards across all locations. This means written procedures for everything from opening and closing to stocking shelves and handling customer complaints. It means regular site visits to make sure every store is maintaining the same level of cleanliness, efficiency, and customer service. And it means hiring and training with consistency in mind—making sure that every employee, no matter which location they work in, understands what’s expected of them.

Many successful multi-store owners implement mystery shopper programs or conduct unannounced audits to ensure that standards aren’t slipping.

Others rely on customer feedback—actively encouraging reviews and making sure that any complaints are addressed immediately. However you approach it, the goal is to make sure that customers feel the same level of quality and care in every store you operate.

The Big Picture: Scaling Smart and Staying Profitable Running multiple stores isn’t just about growing bigger—it’s about growing better. If expansion leads to chaos, declining service, or mismanaged inventory, then more stores won’t mean more profit. But when done right, multi-store ownership allows for greater buying power, stronger brand recognition, and long-term financial success.

The key is being intentional. Build the right team, invest in the right technology, and stay involved in a way that keeps your stores aligned without spreading yourself too thin. Growth should never come at the expense of quality, and the best c-store owners understand that adding locations isn’t the goal—running them well is.

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Expanding Your Empire Strategies for C-Store Owners

The convenience store industry is full of opportunities for those willing to take the next step in growth. Maybe you’ve built a strong business in a single location and are wondering if it’s time to expand. Perhaps you’ve seen competitors open multiple stores in your area and want to explore what that could mean for you. Or maybe you’re thinking bigger—franchising your brand, investing in additional properties, or even positioning yourself for an eventual sale at a premium price. No matter where you are in your journey, one thing is certain: growth isn’t just about getting bigger. It’s about getting smarter.

the key to choosing wisely lies in understanding the realities behind each option.

When it comes to expanding your c-store business, there’s no single path that fits everyone. Some owners prefer to build from scratch, finding the perfect location and designing every aspect of a new store to fit their vision. Others see opportunity in acquiring existing stores, taking over an operation with an established customer base, infrastructure, and cash flow. And then there’s franchising—either joining a well-known brand to benefit from its built-in systems or turning your own successful store into a franchise model for others to invest in. Each of these paths has its own challenges, risks, and rewards, and

beyond simple interest payments. And of course, reinvesting profits from your existing store is another option—one that may allow for growth without taking on additional debt but could require years of careful financial management to accumulate the necessary capital. Once the funding is secured, the next step is deciding how to put it to work. Money alone doesn’t guarantee success; it has to be strategically allocated to site selection, store build-out, technology, staffing, and marketing.

Before a dollar is spent, a detailed financial projection should be in place, outlining break-even points and expected return on

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C-STORE CONNECT MAGAZINE

One of the first things to consider is financing. Growth requires capital, and whether you’re looking at building, buying, or franchising, you’ll need to assess your financial position carefully.

Loans from the Small Business Administration (SBA) are a common route, offering favorable terms for business owners looking to expand. Private investors can also provide funding, but they often expect a return on their investment that goes

investment.

Beyond financing, market research plays a critical role in successful expansion.

It’s not enough to decide you want to open another location—you need to know whether the demand exists and whether the location will support a profitable operation. This means looking at traffic patterns, local demographics, competitor presence, and even small but important details like nearby construction projects or planned developments. A great store in the wrong place won’t succeed, no matter how well it’s run. That’s why smart c-store owners don’t just chase growth for growth’s sake; they expand strategically, ensuring that each new location has the potential to perform as well—or better—than their first. Once a promising location has been identified, the next move is securing a lease or purchase agreement, followed by obtaining the necessary permits and licensing. These processes can take time, and delays are common, so having a clear timeline in place ensures that setbacks don’t derail momentum.

Then comes the reality of operations.

Managing a single convenience store is one thing, but adding another location (or several) changes everything. Suddenly, you’re not just running a store—you’re running a network of businesses that need to operate with consistency and efficiency. This is where many owners struggle. They open a second or third store, only to realize that keeping up with staffing, inventory, and quality control across multiple locations is far more challenging than they anticipated. Successful multi-store operators rely on strong systems—streamlined inventory tracking, automated point-of-sale solutions, and well-trained managers who can oversee daily operations without constant supervision. Once those systems are in place, the next focus is training and delegation.

It’s one thing to have the right tools, but if employees and managers aren’t empowered to use them effectively, the benefits will be lost. A well-trained team makes scaling manageable, and the best time to start preparing them is before expansion happens, not after.

Another avenue for growth that’s gaining

traction is franchising. Some store owners choose to join an established franchise, taking advantage of a wellknown name, proven business model, and built-in support network. While this comes with franchise fees and contractual obligations, it also provides a level of security that independent expansion doesn’t always offer. On the flip side, some successful convenience store owners decide to become the franchise, turning their business model into something others can buy into. This is an entirely different type of expansion—one that requires a deep understanding of branding, training, and ongoing support for franchisees. It’s not for everyone, but for those with a highly successful store model and a clear strategy, franchising can be a way to grow far beyond what would be possible with company-owned stores alone. The next logical move for an owner considering franchising is conducting a feasibility study. Not every successful business translates into a franchise, so hiring a consultant or legal expert to evaluate the business model and scalability is an essential first step.

From there, legal documentation, branding

C-STORE CONNECT MAGAZINE

15

guides, and training manuals must be developed to create a seamless experience for future franchisees.

Regardless of the path taken, expansion comes with challenges. Hiring and retaining good employees across multiple locations can be difficult, especially in an industry known for high turnover. Managing supply chains becomes more complex, as multiple stores mean larger orders, coordinated deliveries, and potential shortages. And then there’s the question of consistency—how do you ensure that a customer who walks into one of your stores has the same great experience at another? The answer lies in a combination of training, leadership, and the right technology to support seamless operations.

The next step here is conducting test runs before full expansion. Many owners create trial locations or introduce management shadowing programs to ensure their systems are scalable before adding another store to the mix. This approach helps identify weak points before they become costly problems.

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C-STORE CONNECT MAGAZINE

There’s also the issue of timing. Just because growth is possible doesn’t mean it’s right at a given moment. Expanding too quickly can put strain on finances, stretch management too thin, and lead to a decline in the quality that made your first store successful in the first place. Smart growth means knowing when to say “not yet” just as much as knowing when to take the leap. Some owners expand aggressively, opening new locations in rapid succession. Others take a more measured approach, ensuring that each new store is running smoothly before considering another. There’s no universal right answer—it depends on the owner’s risk tolerance, financial situation, and business model.

The most practical next step for any owner questioning the timing of expansion is to run a stress test on current operations.

If the existing store is running at peak efficiency, profits are strong, and there is demand for more, then it might be time to move forward. If not, tightening up the foundation before expanding will prevent future headaches.

Perhaps the most important thing to remember about growth is that it’s a process. It doesn’t happen overnight, and it requires careful planning at every stage.

The most successful c-store operators aren’t the ones who expand the fastest, but the ones who expand the smartest.

They know their numbers inside and out, they build strong teams, and they never lose sight of what made their first store a success. Whether you’re acquiring, building, franchising, or even considering selling, every move should be made with a clear strategy and a long-term vision in mind.

For c-store owners looking to grow, the opportunity is there. The industry continues to evolve, with shifting consumer trends, new technology, and emerging markets creating openings for those willing to adapt. But the key isn’t just to grow—it’s to grow wisely. Expansion, when done right, isn’t just about adding more stores.

It’s about creating a sustainable, profitable business that thrives over the long term.

And for those who take the time to do it right, the rewards can be tremendous.

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ACQUIRING VS BUILDING WHICH IS RIGHT FOR YOU? 20

C-STORE CONNECT MAGAZINE

Every c-store owner who’s thinking about expansion will eventually face the same question: is it better to build from the ground up or buy an existing store? It’s a decision that isn’t as simple as it seems, because both paths come with their own challenges, risks, and rewards. And while one route might seem like the obvious choice at first glance, the reality is that what works for one owner in one market might not make sense for another. The key is knowing what fits your long-term vision, your financial situation, and your appetite for risk.

At first, the idea of acquiring an existing store can seem appealing—after all, it’s already up and running, generating revenue, and has a customer base in place.

In theory, you’re stepping into a business that’s functioning, and all you have to do is take the keys and start operating. But anyone who’s been in this business long enough knows that what’s on the surface doesn’t always tell the full story. An existing store comes with a financial history, a reputation in the community, and an operational structure that may or may not align with how you want to run things.

Before buying, the most important step is due diligence. A store might have strong sales numbers, but what’s driving those sales? Is it a loyal customer base, or is it a prime location that just happens to get a lot of foot traffic? Are the store’s expenses in line with industry standards, or is it barely breaking even because of poor management decisions made by the previous owner? Digging into financial records, lease agreements, vendor contracts, and employee structures will tell you what you’re actually buying—not just a convenience store, but the habits, systems, and obligations that come with it.

declining because of a new competitor down the road. Maybe lease negotiations aren’t going well. Maybe there’s an issue with staffing, or a hidden problem with equipment that’s about to cost a small fortune to fix. Knowing the real reason behind a sale can make or break whether it’s a good deal.

Still, if the numbers check out, an acquisition can be a great way to expand quickly. You bypass the long and often unpredictable process of building from scratch, and instead of waiting months— or even years—for a new location to ramp up, you step into a business that’s already generating cash flow. The key is having a plan for what happens next.

Are you keeping the store as-is, or will you be making changes? If there’s an established customer base, how do you ensure they stick around under new ownership? If the store needs operational improvements, how do you implement them without disrupting business? The transition period after an acquisition is

the idea of acquiring an existing store can seem appealing...

just as important as the deal itself, and the owners who handle that transition well are the ones who turn a good purchase into a great investment.

On the other side of the equation, there’s building a store from the ground up. For some, this is the dream—the chance to create exactly what they want, in the location they want, with full control over the process. There’s no legacy to manage, no bad habits from previous ownership to undo. Every decision, from store layout to product selection to branding, is yours to make. But with that freedom comes a whole set of challenges, starting with time.

Building a new convenience store isn’t a quick process. Finding the right location alone can take months, and that’s before you even break ground. Then there’s securing permits, dealing with zoning regulations, handling construction, and sourcing equipment—all while making sure your financials stay in check. Unlike an acquisition, where the costs are more predictable, building new means dealing with variables that can change at any moment. Material costs fluctuate, contractors run behind schedule, and unexpected issues always seem to pop up.

Anyone who’s gone through a new build will tell you: it almost always takes longer and costs more than you think.

And then there’s the biggest consideration: why is the owner selling? If it’s a store that’s thriving, why would someone want to let it go? Sometimes the reason is straightforward—maybe they’re retiring, moving on to another opportunity, or just ready to cash out. But other times, it’s not so clear. Maybe sales have been C-STORE CONNECT MAGAZINE

21

But here’s the upside: when you build from scratch, you start with a clean slate. You get to design a store that fits the latest industry trends, incorporating modern layouts, self-checkout technology, energy-efficient equipment, and a product mix tailored specifically to your market. There’s no need to work around outdated infrastructure or retrofit a store that was designed for a different era. And when the doors finally open, you know exactly what you’re walking into because you built it from the ground up.

So, what’s the next step once you’ve decided to go the new-build route? The most important move is conducting an in-depth market analysis. Just because an area seems promising doesn’t mean it will support a new convenience store. Are there competitors nearby, and if so, what are they doing right (or wrong)? What’s the customer demographic, and do their shopping habits align with what you plan to offer? And perhaps most importantly, is there enough daily traffic—both foot and

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C-STORE CONNECT MAGAZINE

vehicle—to sustain a profitable business?

A great location isn’t just about visibility; it’s about whether people will choose to stop.

Of course, financing is a major factor in both building and buying, but it plays out differently depending on the route you take. Acquiring a store means negotiating a purchase price, often with the help of a lender or investors, and structuring the deal to make sure it works for both sides. Building, on the other hand, means securing funding before revenue exists.

Lenders will want detailed projections, showing exactly how and when the store will reach profitability. For some, this level of financial uncertainty makes buying a safer bet. For others, the potential longterm upside of building is worth the initial risk.

At the end of the day, there’s no universal right answer. Some owners thrive on taking over existing stores and turning them around, making small but impactful changes that boost profitability. Others

prefer to build from the ground up, shaping their vision without having to compromise on someone else’s past decisions.

And sometimes, it comes down to what’s available—if the perfect store comes up for sale, it might make sense to jump on it, even if you originally planned to build.

Likewise, if the market is ripe for a fresh, modern c-store experience, investing in a new build could pay off in ways an acquisition wouldn’t.

The best advice? Know why you’re choosing the path you’re on. If you’re buying, make sure you fully understand what you’re getting into—both the opportunities and the risks. If you’re building, be prepared for the long haul and have a solid plan in place for every step. Expansion isn’t just about adding locations; it’s about making smart, strategic moves that set you up for success. Whether you’re stepping into an existing store or starting fresh with a new one, the right choice is the one that moves you closer to your long-term business goals.

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From Owner to Operator: C-Store Franchising For many convenience store owners, ex-

But brand power isn’t just about the sign

pansion is the goal, but the how of it isn’t

on the door. Franchisors provide exten-

always clear. Growing from a single store

sive support, from location selection to

to multiple locations is a big step, and

marketing strategies, inventory manage-

one of the most attractive paths is fran-

ment, and employee training. That level

chising. Whether that means investing

of assistance can be invaluable, particu-

in an established brand or turning your

larly for first-time multi-store owners who

own successful store into a franchise

may not yet have the systems in place

model, the franchising route offers a

to scale efficiently. Instead of having to

structured way to grow—one that comes

figure out everything alone—what prod-

with a built-in support system, national

ucts to stock, how to price them, how

recognition, and tested business strate-

to promote the store—franchisees get a

gies. But, as with anything in business,

playbook, one that has been refined over

there are trade-offs. Franchising offers stability and brand power, but it also comes with rules, fees, and limitations.

So, how do you know if it’s the right path for you?

The journey from independent owner to franchise operator isn’t just about signing a contract and putting up a new sign. It’s about understanding the expectations, weighing the risks, and

Cash flow remains one of the biggest challenges...”

making sure the decision fits your long-

decades of experience. For many owners, that alone is worth the cost of entry.

That cost, however, is something to consider carefully. Franchising isn’t free, and it’s not just the initial buy-in that matters. Franchisees typically pay ongoing fees in the form of royalties, advertising contributions, and sometimes even required purchases from the franchisor’s preferred suppliers. These costs eat into profits, which is why it’s so important

term goals. Some c-store owners thrive

simple: brand recognition. Independent

to run the numbers before making a

as independent operators, relishing the

c-stores can build loyal customer bases

commitment. While the franchise model

flexibility of running things exactly how

over time, but a well-known franchise

offers a level of built-in security, it also

they want. Others prefer the structure

name brings trust from day one. Con-

means operating within the financial

and support that come with a franchise

sumers know what to expect when they

framework set by the franchisor.

model. There’s no right choice—only the

walk into a 7-Eleven, a Circle K, or a

one that works best for your vision.

Wawa. That kind of familiarity can make

The Southeast: A Growing Market for

a huge difference, especially in a com-

C-Store Franchises

Why Franchise? The Power of a

petitive market. A new store with a strong

Recognized Brand

franchise brand behind it doesn’t have to

The Southeastern U.S. has become a

fight as hard to attract customers—they

hotbed for convenience store expan-

One of the biggest reasons conveni-

already know the name, and that trust

sion, and for good reason. The region

ence store owners turn to franchising is

translates into foot traffic and sales.

has experienced significant population growth over the past decade, with states

26

C-STORE CONNECT MAGAZINE

like Florida, Georgia, Tennessee, and

looking to switch to a franchise model.

has been slowly but steadily increasing

North Carolina seeing an influx of new

Circle K has also been expanding, par-

its footprint across the South. While Buc-

residents and businesses. That kind of

ticularly in Florida and Georgia, targeting

ee’s operates differently than traditional

growth means more demand for con-

high-traffic areas where convenience

c-store franchises, its expansion reflects

venience stores, whether as standalone

retail is in demand. Meanwhile, Wawa—

the growing demand for high-quality con-

locations or as part of gas station devel-

historically a Northeast brand—has made

venience offerings in the Southeast.

opments. Franchisors have taken notice,

major moves into the Southeast, an-

and many of the biggest c-store brands

nouncing plans for dozens of new loca-

Independent vs. Franchise: What’s the

are actively expanding in the Southeast,

tions across Georgia and the Carolinas.

Right Fit?

For those looking at fuel-integrated

One of the biggest differences between

c-store franchises, ExtraMile (backed by

owning an independent c-store and

7-Eleven, for example, has aggressively

Chevron and Texaco) is another major

operating a franchise is control. As an

pushed into the region, offering both new

player seeking franchise partners in the

independent owner, every decision—what

build opportunities and existing store

region. And then there’s Buc-ee’s, known

to sell, how to market, who to hire—is

conversions for independent operators

for its enormous travel centers, which

yours to make. You have complete flex-

making it an opportune time for potential franchisees to get involved.

C-STORE CONNECT MAGAZINE

27

ibility, but you also take on all the risk.

corporate leadership, profitability, and

term goals. Is the plan to operate a

If a product line isn’t selling, that’s on

day-to-day operations—can offer valuable

single franchise location, or is this the

you. If business slows down, there’s no

insight into whether a particular brand is

start of a multi-store expansion? Differ-

corporate office stepping in to help.

a good fit.

ent franchises have different policies on

Franchising, on the other hand, pro-

Another major factor is location. Even

for operators willing to open multiple

vides structure, but it also comes with

the best franchise won’t succeed in the

locations.

rules. Franchisees are required to follow

wrong spot. Demographics, traffic pat-

corporate guidelines on everything from

terns, nearby competition, and even local

At the end of the day, franchising isn’t

store layout to pricing to promotions.

regulations all play a role in whether a

just about buying into a business—it’s

That means less room for personal

location will thrive. Some franchisors as-

about aligning with one. It’s about find-

touches or experimental strategies. Want

sist with site selection, while others leave

ing a brand that fits your approach to

to carry a locally made product that cor-

it up to the franchisee, so understanding

business, your financial goals, and your

porate doesn’t approve? Not an option.

what level of support is provided is key.

vision for the future. Whether that means

scaling, and some even offer incentives

Want to change your hours based on what works best in your specific market?

partnering with a well-known name or And then there’s the question of long-

That decision might not be up to you.

building something from scratch, the most successful convenience store owners aren’t just thinking about what works

Financially, the models differ as well.

Independent owners keep 100% of their profits, but they also carry 100% of the expenses. Franchisees, while benefiting from established systems and national marketing, have to factor in royalty payments, advertising fees, and sometimes mandatory purchases from corporate-approved suppliers.

For some, the trade-off is worth it. A franchise provides a ready-made business model, reducing the risks associated with trial-and-error operations.

For others, the restrictions feel limiting, making independent ownership the better choice. The key is knowing what kind of business owner you are and where you’re willing to compromise.

Making the Move: What to Consider Before Franchising If franchising sounds like the right path, the first step is thorough research. Not all franchises are created equal, and signing on with the right brand is crucial.

Some offer more flexibility than others, some require larger upfront investments, and some provide stronger ongoing support. Looking at existing franchisee experiences—what they say about 28

C-STORE CONNECT MAGAZINE

Franchising isn’t just about buying into a business”

today. They’re thinking about what will work years down the road.

Franchising offers a clear path to growth, but it’s not for everyone. The decision to franchise—or not—isn’t just a business move. It’s a strategic choice that shapes the future of your store, your career, and your financial future. And in a fast-moving industry like convenience retail, making the right choice matters more than making a quick one.

“SERVICE IS MORE THAN JUST A WORD WITH US”

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EBT COMPLIANCE upplemental Nutrition Assistance Program (SNAP) continues to be a vital partnership between over a quarter-million authorized retailers and the federal government.

Although the majority of retailers play by the rules, the USDA continues to identify “trafficking” as an area of continued concern. Viewed as the most serious violation, “trafficking” refers to the process of exchanging SNAP benefits for cash. During FY 2023, roughly $2 billion or nearly 2% of the $124 billion in SNAP benefits were flagged for “trafficking”.

The Food and Nutrition Service (FNS) monitors retailers through both ongoing analytics and on-site investigations. SNAP transactions are all routed

into

the

FNS’s

Anti-Fraud

Locator

for

EBT

Retailer

Transactions system (ALERT). From here, suspicious transactions are flagged. During FY 2022, FNS identified over 22,000 stores for further review and investigation. While this may be a relatively small number, what would an audit of your store show?

CLICK HERE FOR VIDEO OVERVIEW

Stores identified for further review are at risk for unannounced compliance visits or even undercover inspections.

FNS data identifies gas stations and convenience stores as more likely to be involved in SNAP violations.

Although resources are limited, GAO has recommended that FNS review high-risk stores more frequently than the standard 5 year cycle, with the goal os providing “early oversight of risky stores and prevent trafficking”. Most recently, these efforts have resulted in nearly 2,500 sanctions for SNAP violations. Again, this is less than 1% of the roughly 250,000 stores; however, at any given moment YOUR store could be identified for audit.

Compliance reviewers can impose sanctions ranging from warning letters up to permanent disqualification. The most severe penalty is permanent disqualification. During FY2022 nearly 1000 locations were permanently disqualified for either trafficking or falsification of SNAP application. Over 95% of permanent disqualifications involved convenience stores and/or gas stations. Sanctions are also incurred for selling ineligible items, lack of required stock of staple foods, exchanging SNAP benefits for something other than food. Of importance, FNS rarely grants lienency.

HOW MOSTEDGE CAN HELP Common red flags in EBT transactions include, unusual transaction amounts, where too many transactions end in the same cents values, multiple EBT swipes, where a customer’s card is being run several times, patterns where an entire monthly SNAP allotment is expended in a short period, and unreasonably and large purchase amounts.

With MostEdge Backoffice you can get real-time analytics showing transaction details allowing you to monitor your store’s transactions, including EBT sales.

Within the Backoffice you have the ability to ensure items are properly identified as eligible for EBT. This ensures transactions are not improperly converted. Just as important, the Backoffice allows full visibility into inventory, ensuring compliance with the minimum nutrition requirements within the CLICK HERE FOR INTERACTIVE INFORMATION

assocaited nutrition categories.

SOURCES:USDA FNS RETAILER POLICY MEMOS AND DATA (2021–2024); GAO REPORTS & TESTIMONIALS ON SNAP TRAFFICKING AND INTEGRITY (2019–2024); USDA OIG AND FNS PRESS RELEASES / STATEMENTS (2020–2024)

sales@mostedge.com

www.mostedge.com

Scaling Our Sustainable Impact We have only one planet; it’s up to all of us to come together to help protect it for the long term.

In FY2024, we advanced key sustainability initiatives and expanded our impact on a larger scale.

Our FY2024 Sustainability Report showcases many stories of progress, with these standout highlights across our One Planet One Table pillars:

Products

People

Planet

Growing Our Portfolio of Sustainable Items

Living Our Purpose to Do Global Good

Decarbonizing Our Operations

Our One Planet One Table assortment represents the U.S. foodservice industry’s most extensive offering of products backed by best-in-class sustainability certifications, standards and programs.

During our inaugural global Purpose Month, colleagues from over 125 Sysco sites volunteered their time and talents, making meaningful contributions toward Sysco’s Global Good Goal of donating $500 million worth of goods by the end of 2025.

To reduce operational emissions, we expanded our industry-leading electric vehicle (EV) fleets, began sourcing renewable diesel and increased renewable electricity at our sites.

3.5K+

500+

131

One Planet One Table items available across the U.S. Broadline

company-sponsored Purpose Month events

EVs deployed throughout our global fleets to date, with 110 delivered in FY2024

20+

~17K

4.3M

leading sustainability certifications and standards represented

74%

of One Planet One Table items are Sysco Brand

volunteer hours recorded by Sysco colleagues during our global Purpose Month

125+

Sysco locations engaged in the U.S., Canada, Sri Lanka, Ireland and the U.K.

1

gallons of renewable diesel sourced by our sites each year, the equivalent of removing 10K cars from the road 2

~294K

megawatt-hours of renewable energy per year through a new power purchase agreement signed in FY2024, covering ~40% of our annual electricity needs by 2027

There’s more to the story.

To learn more about these initiatives and our sustainability approach, please visit our website and view our FY2024 Sustainability Report. You can also learn more about our ongoing commitment to creating a more inclusive workplace in our FY2024 DEI Report.

1 2

This number is based on actual fuel purchases confirmed by Sysco fuel vendors for FY2024.

Calculated using the Global Logistics Emissions Council Framework based on average greenhouse gas emissions from a typical passenger vehicle, as estimated by the U.S. Environmental Protection Agency.

Knowing When to Sell: How to Maximize Value Selling a convenience store isn’t just about cashing out and walking away. It’s about making sure you’re getting the most value for everything you’ve built. Whether you’re looking to retire, invest in something new, or simply move on, the way you prepare for the sale will determine how much you walk away with and how smoothly the process goes. Selling a store isn’t something you can rush. It takes planning, the right timing, and a solid understanding of what your store is actually worth.

A lot of owners don’t even think about selling until they’ve already made the decision, but the truth is, the smartest time to start preparing is long before you ever list the store. The better your business looks on paper, the more attractive it’s going to be to buyers, and that means more negotiating power for you.

The first step is figuring out what the store is worth, and I don’t mean just throwing out a number based on gut instinct. Buyers aren’t paying for what the store could be—they’re paying for what it is. That means looking at the numbers.

Buyers are keenly interested in your store’s profitability. Metrics like Seller’s Discretionary Earnings (SDE) and Earnings Before Interest, Taxes, Depreciation, and Amortization (EBIT34

C-STORE CONNECT MAGAZINE

DA) are commonly used to assess value. For convenience stores, SDE multiples typically range between 2.21x and 3.30x, while EBITDA multiples fall between 3.67x and 4.38x. Let’s break that down with a simple example. If your store’s SDE is $200,000, applying a multiple of 2.75x would put the valuation at $550,000. But if a buyer is looking more at EBITDA and that number is, say, $150,000, using an EBITDA multiple of 4.0x would put the valuation closer to $600,000. That’s why understanding these numbers is critical—knowing where your business stands financially will help you price it right and ensure you don’t undersell yourself.

cial records—including profit and loss statements, tax returns, and inventory reports—now is the time to get them in order. The last thing you want is for a deal to fall apart because a buyer can’t make sense of your numbers.

On that note, cutting unnecessary expenses can also help maximize your sale price. If payroll is higher than it should be or your inventory costs are eating into profits, now’s the time to tighten things up. A buyer will be looking for ways to improve profitability, and

Beyond the raw financials, buyers are also looking at how diverse your revenue streams are. A store that relies entirely on snacks and beverages is a tougher sell than one bringing in money from fuel sales, lottery, ATM fees, food service, or other steady income sources. The more ways your store generates revenue, the more stable and valuable it looks to a buyer. Location is another huge factor. A high-traffic area, especially near major roads, schools, or residential developments, will always command a premium price. On the flip side, if the surrounding area is in decline or competition has increased, that can drag the valuation down. These are things to consider before you ever start talking numbers with potential buyers.

Once you have a general idea of what your store is worth, it’s time to start making it as attractive as possible.

Think of it like selling a house—if the exterior looks rundown, buyers won’t even bother stepping inside. The same applies to your business. A store that’s clean, organized, and well-maintained is going to sell for more than one with flickering lights, outdated signage, or a dirty back office. But it’s not just about appearances. A well-run operation, with clear financial records and streamlined expenses, will always sell for more than a store with missing paperwork and questionable bookkeeping. If you don’t already have organized finan-

they also take a commission. If you’re looking for a quicker, smoother transaction and don’t mind paying for the service, a broker can be a solid choice.

If you’re selling to an individual buyer, financing can sometimes be a hurdle. Many buyers won’t have the full purchase price in cash, so they’ll need to secure financing through an SBA loan or private lenders. In some cases, sellers offer seller financing, where the buyer makes payments over time instead of paying upfront. While this can make the store easier to sell, it also means taking on some risk. If the buyer defaults, you could be left chasing payments. If you go this route, working with a financial advisor and legal professional to structure the deal properly is crucial.

And then there’s taxes. A lot of sellers don’t think about tax implications until after the deal is done, but that’s a costly mistake. Selling a business triggers capital gains taxes, and depending on how the deal is structured, you could end up with a hefty tax bill. A tax professional can help you figure out ways to minimize the hit, whether through reinvesting proceeds, structuring the deal as an asset sale instead of a stock sale, or timing the sale to take advantage of tax breaks.

if they see easy fixes, they’re going to expect a discount on the sale price. On the other hand, if you’ve already optimized operations and can show strong profit margins, you’ll have the upper hand in negotiations.

For owners who are just starting to think about selling, the best advice is to start preparing now, even if you’re a year or two away from actually listing the business. Cleaning up your financials, optimizing expenses, and making small but meaningful improvements to your store can make a big difference in how quickly you sell and how much you walk away with.

When it comes to finding the right buyer, you have options. Some owners sell to competitors or local business owners who already understand the industry.

Others work with business brokers who specialize in selling convenience stores.

A broker can take a lot of the legwork off your plate—they handle marketing, screen buyers, and negotiate deals—but

At the end of the day, selling a convenience store isn’t something to rush into.

The best sales happen when an owner is ready—when the store is profitable, the records are in order, and the timing is right. Whether you’re planning your next big move, stepping into retirement, or just ready for a change, taking the time to sell smart will always pay off.

C-STORE CONNECT MAGAZINE

35

Vestis™ is an Approved Supplier of Uniforms and Workplace Supplies for Horizon Retailer Association

We’re here for the people who make it all work As a Horizon Retailer Association approved provider for members, Vestis understands the needs of small businesses like yours. Plus, price assurance means you have a dependable source for all your Uniforms and Workplace supplies.

With Vestis you’ll get: Program Management • A single point of contact dedicated to the success of your program

Quality Assurance • Routine internal audits to help ensure pricing and contract compliance

Customization Capabilities • Vast assortment of uniform choices with custom logo options

Customer Portal • 24/7 self-serve

account management

Special Savings for HRA Members • National negotiated prices on rental programs and Direct Sale merchandise • 4 weeks free for new program locations Talk to your Vestis Sales Representative to learn more and start saving today.

Call: 866-VESTIS-1 | Visit: vestis.com National Account Number: S12038 For Direct purchase please visit shop.vestis.com Source Code: 624361 Aramark Uniform Services is now Vestis™ Name:

Phone: NA-038-25

Uniforms Maintain professionalism with customers and boost ɬȉɍȯ٪ƣȯƇǾƫ٪ǛƫƲǾɅǛɅɬ٪ɦǛɅǕ٪ƫƲȬƲǾƫƇƣdzƲ٪ɍǾǛnjȉȯǼȷ‫ؘ‬

Mops ¯ɅȉȬ٪ɅǕƲ٪ȷȬȯƲƇƫ٪ȉnj٪ƫǛȯɅ‫ؙ‬٪ƣƇƤɅƲȯǛƇ‫ؙ‬٪ƇǾƫ٪ƫƲƣȯǛȷ٪ throughout your facility with mops that are ȬȯȉnjƲȷȷǛȉǾƇdzdzɬ٪dzƇɍǾƫƲȯƲƫ٪ƇǾƫ٪ƫƲdzǛɥƲȯƲƫ٪ȉǾ٪ɅǛǼƲ‫ؘ‬

Floor Mats Help keep your facility clean and boost your ȬȯȉnjƲȷȷǛȉǾƇdz٪ǛǼƇǍƲ٪ɦǛɅǕ٪˛ȉȉȯ٪ǼƇɅȷ٪ɅǕƇɅ٪ɅȯƇȬ٪ƫǛȯɅ‫ؙ‬٪ ƫɍȷɅ‫ؙ‬٪ƇǾƫ٪ǼȉǛȷɅɍȯƲ‫ؘ‬

First Aid Fȉȯ٪Ƈ٪˛ƇɅ٪ɦƲƲǯdzɬ٪ȯƇɅƲ‫ؙ‬٪ɦƲ٪ǕƲdzȬ٪ȷɍȬȬȉȯɅ٪ɬȉɍȯ٪˚ȯȷɅ٪ ƇǛƫ٪ƇǾƫ٪ȷƇnjƲɅɬ٪ǾƲƲƫȷ‫ؘ‬٪tƇǛǾɅƇǛǾ٪˚ȯȷɅ٪ƇǛƫ٪ƤȉǼȬdzǛƇǾƤƲ٪ ƇǾƫ٪ǯƲƲȬ٪ȬȯȉƫɍƤɅȷ٪ǛǾ٪ȷɅȉƤǯ٪ɦǛɅǕ٪ȉɍȯ٪˚ȯȷɅ٪ƇǛƫ٪ǯǛɅ٪ ȷɍȬȬdzǛƲȷ٪ƇǾƫ٪ȷƲȯɥǛƤƲ‫ؘ‬٪

Towels Our towels deliver the cleaning performance you expect so you can provide the experience your ƤɍȷɅȉǼƲȯȷ٪ƇǾƫ٪ƲǼȬdzȉɬƲƲȷ٪ƫƲȷƲȯɥƲ‫ؘ‬

Restroom Supply Services Improve your customers’ and employees’ restroom experience by keeping essential supplies stocked ƇǾƫ٪ȯƲƇƫɬ٪Ʌȉ٪ɍȷƲ‫ؘ‬

Every location is unique and customers’ needs will differ. While we can provide detailed descriptions of the characteristics of our mats and where it is commonly placed, we do not recommend mats for ȬƇȯɅǛƤɍdzƇȯ٪ȬɍȯȬȉȷƲȷ‫ؙ‬٪Ǿȉȯ٪ƫȉ٪ɦƲ٪ȯƲƤȉǼǼƲǾƫ٪ȷȬƲƤǛ˚Ƥ٪dzȉƤƇɅǛȉǾ٪ȬdzƇƤƲǼƲǾɅȷ‫ؘ‬٪ ɍȯ٪ƤɍȷɅȉǼƲȯȷ٪ǯǾȉɦ٪ɅǕƲǛȯ٪ƣɍȷǛǾƲȷȷƲȷ٪ƇǾƫ٪ɅǕƲ٪ȬƲȉȬdzƲ٪ɥǛȷǛɅǛǾǍ٪ɅǕƲǛȯ٪dzȉƤƇɅǛȉǾȷ٪ɅǕƲ٪ƣƲȷɅ٪ƇǾƫ٪ƇȯƲ٪ǛǾ٪Ƈ٪ƣƲɅɅƲȯ٪ȬȉȷǛɅǛȉǾ٪Ʌȉ٪ȷƲdzƲƤɅ٪ǼƇɅȷ٪ƇǾƫ٪ǛɅȷ٪ ȷȬƲƤǛ˚Ƥ٪dzȉƤƇɅǛȉǾ٪ȬdzƇƤƲǼƲǾɅȷ‫ؘ‬ NA-038-25

Company Profile

Edward Don & Company is the nation’s leading distributor of foodservice equipment and supplies.

• 2024 Annual Sales $1.4 Billion

Since 1921, DON has combined dedication to service excellence with its extensive inventory, technology investments and industry knowledge to get you what you need when you need it.

• Fully integrated operating platform (SAP) - SKU commonality across all DCs

Providing “Everything But the Food” is our business and our focus. We service everything from independent restaurants to national chains, healthcare, hotels, hospitality, country clubs, schools, government institutions, foodservice management facilities and much more.

• 1,300+ trained associates

• 7 nationwide full-service distribution centers - over 1.3M square feet

• 12,000+ in stock products • 300+ experienced and tenured sales professionals • 24/7 online ordering (don.com) • Data rich reporting capabilities • Globally-sourced product selection from the industry’s leading suppliers • Scheduled transportation network - DON fleet and contracted Last Mile Agents

Seattle

• Value Added Services Team for new store openings and rollouts Chicago

Philadelphia

Corporate HQ

Los Angeles

We not only supply, but we also care about your business.

That’s why it’s our mission to provide you with industry leading products you can rely on, outstanding service you deserve and solutions that work for you.

Atlanta Dallas

7

nationwide full-service distribution centers

• DON BUILD - Equipment, Design and Build Team

Miami

Our Commitment is Your Success.

800.777.4DON | don.com 2023024 revised 022525

Understanding Tax Implications When Selling Your Store

it within 180. For owners looking to continue building wealth through real estate, it can be a smart move—just be sure you’ve got the right advisors lined up.

Smart Moves for Maximizing Value and Minimizing Surprises Selling a convenience store is never just a business decision—it’s a personal milestone, often marking the end of a chapter filled with hard work, risk-taking, and long hours. Whether you’re retiring, reinvesting, or pivoting to a new venture, one of the most important (and most overlooked) parts of the process is understanding the financial aftermath.

How your deal is structured, when you sell, and what you do with the proceeds can all have a big impact on how much you actually walk away with after taxes.

For most sellers, the biggest consideration is capital gains tax. That’s the tax you pay on the profit from selling your store—basically the difference between what you originally invested and what you sell it for. If you’ve owned your store for more than a year, you’ll likely pay long-term capital gains tax, which is typically lower than your regular income tax rate. But it’s not always that simple, especially if your business includes a mix of real estate, equipment, and inventory. Each piece can be taxed differently, and the way the sale is broken down on paper will determine how the IRS views it.

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C-STORE CONNECT MAGAZINE

Another major decision point is whether your sale is structured as an asset sale or a stock sale. Most convenience store transactions are asset sales, which means the buyer is purchasing the individual components of your business—your shelves, your signage, your goodwill, and everything in between.

While this setup tends to be more appealing for buyers, it can mean a more complicated tax picture for sellers, since each category of asset might fall under different tax treatments. On the other hand, if your store is set up as a corporation, a stock sale might be possible. This route is often cleaner for sellers, since it may qualify entirely as a long-term capital gain and typically involves fewer post-sale liabilities.

If you’re planning to reinvest the proceeds from your sale—say, into a new location or a different kind of commercial property—you might want to explore the possibility of a 1031 exchange. This is a tax deferral tool that allows you to roll your gains into another property purchase, avoiding capital gains taxes in the short term. It’s a powerful strategy, but it comes with strict deadlines and requirements, so it’s not something to leave to the last minute. You’ll need to identify your replacement property within 45 days of the sale and close on

And don’t forget about the state you’re selling in. While federal tax laws get most of the attention, state and local taxes can still take a meaningful bite out of your profits. Some states impose transfer taxes or other fees tied to business sales or real estate transactions.

Depending on your location, there could also be licensing complications when transferring things like tobacco, alcohol, or fuel sales permissions to a new owner. These local details can affect your timeline and your net proceeds, so make sure you’ve got someone on your team who understands the rules where you operate.

Perhaps the biggest mistake convenience store owners make when preparing to sell is not planning far enough in advance. Ideally, you want to be thinking about tax strategy at least a year before you actually list your store. That gives you time to clean up your books, optimize your assets, and make smart decisions about timing. It also gives your accountant and your attorney time to structure the deal in a way that aligns with your personal financial goals.

At the end of the day, cashing out should be a moment of reward—not regret. After years of effort, you deserve to walk away with as much value as possible. That doesn’t just mean getting the best price—it means keeping the most of what you earn. So talk to the right advisors, get ahead of the game, and don’t underestimate the tax piece. Selling smart is just as important as buying smart—and it’s the final step in building a truly successful c-store business.

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THE NUMBERS GAME: Financing C-Store Expansion

Smart Growth Starts with Smart Money Growth in the convenience store world isn’t just about ambition—it’s about timing, planning, and, most critically, funding. In today’s competitive landscape, more and more c-store owners across the Southeast are eyeing expansion. Some want to add a second or third location. Others are considering upgrading their current store to stay competitive in a shifting retail environment. But no matter the shape of the plan, the reality is the same: growth costs money, and figuring out how to finance that growth is where many owners hit a wall.

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C-STORE CONNECT MAGAZINE

The good news is you’re not alone. Most successful store owners don’t expand using their own cash alone. They rely on smart financing—loans, reinvested revenue, or sometimes outside investment—to make those plans possible. And the process doesn’t have to be intimidating. With the right information, the right partners, and a clear-eyed view of your business’s numbers, you can move forward with confidence.

In the Southeast, where the c-store market is thriving but evolving fast, timing can make all the difference. In states like Georgia, North Carolina, and Florida, new development is booming, and competition

is heating up. That’s motivating some operators to lock in leases or buy up properties before prices climb even higher. Others are jumping on market shifts— like EV charging, hot food programs, or modern loyalty apps—to set their stores apart. But whatever the reason, expansion usually starts with a call to the bank or a lender. And that’s where preparation matters.

Lenders today are looking for more than just a good idea. They want to see that you’ve done your homework—that you understand your current business’s performance, have a clear plan for growth, and can demonstrate how the numbers will work. This is where clean financials come into play. A profit and loss statement, recent tax filings, and even simple cash flow projections can go a long way in showing that you’re not just guessing.

If your books are a little messy—and let’s be honest, a lot of small business books are—now is the time to clean them up. An outside accountant, even for a short-term engagement, can be worth every penny if it helps you secure better terms on a loan.

For many c-store owners, the local bank is still the first stop, and in the Southeast, regional banks often offer surprisingly flexible terms, especially for long-standing customers. But if a traditional bank loan isn’t the right fit—or if the process feels too slow—there are more options than ever. Some alternative lenders now specialize in working with small retailers, offering short-term working capital loans based on monthly revenue rather than credit scores alone. The approval process is often faster, and the paperwork is lighter. Just be cautious of the terms, and make sure you’re not trading long-term flexibility for short-term convenience.

If your expansion plans involve big-ticket purchases—like new refrigeration, foodservice equipment, or fuel pumps—equipment financing might be another path to explore. This type of loan is often tied directly to the equipment being purchased, which lowers the lender’s risk and may

help you qualify for better rates. If you’re planning to invest in property—say, buying the building instead of leasing—it’s worth looking into SBA-backed loans, which are designed for small businesses and often include more favorable terms, particularly for owner-occupied commercial real estate.

But even with financing in hand, expansion comes with real risks. That’s why it’s important not to treat growth as a finish line—it’s a process. During expansion, you’ll need to keep a close eye on your cash flow, because expenses often go up before new revenue kicks in. That includes everything from payroll to inventory to marketing. Many owners in this stage also underestimate how long it can take for a new location to reach profitability. Patience is key, but so is monitoring the right financial signals so you can make adjustments as needed.

It also helps to set realistic expectations.

The best expansions aren’t necessarily the flashiest—they’re the ones that are sustainable. In fact, many seasoned

owners say their biggest financial wins came not from opening new stores, but from upgrading existing ones—adding a new food program, modernizing the layout, or investing in better technology to manage labor and track inventory. These improvements may require capital too, but the return can be quicker and easier to manage.

One thing that often gets overlooked in the planning phase is the importance of having open communication with your lender—not just during the application process, but throughout your growth journey. Lenders aren’t just gatekeepers; they can be valuable allies. Keeping them in the loop on your business’s performance—especially if you’re facing a delay, pivoting your plan, or hitting a short-term cash crunch—can lead to more flexibility and better support when you need it most. Relationships still matter in this business, and lenders who understand your vision are more likely to back your next big move.

For c-store owners across Alabama, Tennessee, and South Carolina, expansion doesn’t have to be a leap into the unknown. The landscape is familiar, the customer base is loyal, and the growth potential is real. But as you play the numbers game, make sure you’re playing it smart. Know your current financial picture inside and out. Be honest with yourself about what you can afford, and build in a buffer for the unexpected. Most importantly, surround yourself with advisors—whether that’s a trusted accountant, a commercial banker, or a fellow operator who’s been through it before.

The path to smart growth is paved with smart financial decisions. With careful planning and the right financing in place, expanding your c-store business can be a powerful way to build long-term value and cement your place in a rapidly evolving industry. You’re not alone in this.

The tools are out there, and so are the opportunities—you just have to be ready to make your move.

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Smart Growth Smar t Moves

Growth in the convenience store business isn’t just about getting bigger—it’s about getting better. Whether that means opening more locations, stepping into franchising, or preparing to sell at the highest value possible, the most successful owners aren’t the ones who move the fastest.

They’re the ones who move strategically. Throughout this issue, we’ve covered expansion from every angle—how to scale, how to manage multiple stores, how to decide between building and acquiring, how to maximize your store’s value, and even how to exit when the time is right. But none of this matters if the foundation isn’t solid.

Growth for the sake of growth is a mistake. Opening new 50

C-STORE CONNECT MAGAZINE

stores or jumping into a franchise without the right financials, team, or systems in place is how businesses crumble under their own weight. Expansion works best when it’s intentional— when there’s a clear plan, strong leadership, and a business that is already running like a well-oiled machine. If your first store isn’t operating at peak efficiency, adding more locations won’t magically fix the issues. They’ll just multiply. That’s why the first step in any smart growth strategy is looking at where you are right now.

For some, the next logical move is acquiring an existing store.

Buying into an established business can be a shortcut to expansion, but only if the numbers and conditions are right.

Taking over a store with steady foot traffic, good financials, and a strong customer base can be a game-changer.

But stepping into a poorly run operation, even at a bargain price, can quickly turn into a financial drain. The due diligence has to be thorough. If you’re evaluating an acquisition, looking at Seller’s Discretionary Earnings (SDE) and EBITDA multiples is crucial to determine if the deal is worth it. A store with an SDE of $200,000 and a 2.75x multiple means you’re looking at a $550,000 investment. But is it really worth that? Are there operational inefficiencies you’d have to fix? Is the lease agreement favorable? Why is the owner selling in the first place? These are the kinds of questions that make or break an acquisition.

For others, building from scratch is the way to go. It’s a longer, more expensive process, but it also offers complete control. If the right location is available and market research shows demand, starting fresh means designing the store exactly how you want—modern layouts, the right mix of technology, and a concept tailored to today’s customers. But new builds come with their own risks: delays, unexpected costs, and the challenge of attracting customers to a brand-new location with no established foot traffic. The decision to build has to come with patience and a solid financial plan to sustain the ramp-up period.

And then there’s franchising. Some owners see franchising as a way to get into the game with the backing of a well-known brand, while others see it as a way to expand their own successful model. Both approaches have advantages, but they also require a clear understanding of what franchising really means. Buying into a franchise provides instant brand recognition, proven systems, and corporate support, but it also comes with franchise fees, operational restrictions, and ongoing royalty payments. On the flip side, turning your

store into a franchise brand means taking on the role of a mentor, creating systems that other owners can follow, and scaling in a way that ensures consistency. Not every great convenience store is fit to become a franchise, and not every franchise model is the right fit for every owner. It all comes down to understanding your long-term vision and where you see yourself thriving.

For those considering an exit strategy, maximizing business value is key. A store isn’t just worth its revenue—it’s worth the strength of its operations, the reliability of its financials, and the appeal it has to buyers. Clean books, efficient operations, and a diverse set of revenue streams make a business attractive. If the sale price is based on a multiple of earnings, then increasing those earnings before listing the store for sale can have a massive impact on the final number. Cutting unnecessary expenses, optimizing inventory, and ensuring the store runs smoothly without the owner’s constant presence can all make a store worth more to a buyer.

The best exits don’t happen overnight— they’re planned well in advance.

Regardless of whether the goal is growth, franchising, or selling, the most successful convenience store owners have one thing in common: they think ahead. They’re not just reacting to trends or jumping at the first opportunity that presents itself. They’re studying the numbers, understanding their market, and making informed moves.

They know that adding stores doesn’t automatically mean adding profits, and they’re not afraid to wait for the right moment.

But beyond all of this—the numbers, the expansion strategies, the market analysis—there’s a bigger question to ask: How does this fit into the life you want to build? Every decision made in business has an impact beyond the store itself. Growth takes time, energy, and financial commitment, and those

things don’t just affect the bottom line; they affect your personal life, your family, your future. What does success look like to you? Is it running a handful of highly profitable stores while still having the freedom to take vacations and enjoy life? Is it scaling up aggressively to build a multi-store empire? Is it cashing out at the right time so you can transition into a new venture or retire comfortably?

Too often, business owners get caught up in chasing growth without stopping to ask whether that growth aligns with what they actually want. It’s easy to assume that bigger is always better, but if adding more locations means sacrificing time with your family or creating stress that outweighs the financial benefits, is it really worth it? On the flip side, if you’re feeling stuck, hesitant to expand because of fear rather than strategy, could the right move actually be pushing for that next level? These are personal decisions, and they’re just as important as the financial ones.

So, if you’re reading this and wondering what your next move should be, take a step back and assess everything—not just the business, but your life as a whole. Does your store support the future you want, or is it holding you back? If growth is the goal, is it happening in a way that’s sustainable? If selling is on the horizon, does the timing and price align with your long-term plans? There’s no single right answer, but the best decisions are made with clarity.

Growth isn’t just about moving forward.

It’s about moving forward with purpose.

Whether you’re opening your second store, buying your fifth, or selling at the right time for the right price, the key to success in this industry isn’t speed.

It’s strategy. And that strategy should always include you—your goals, your priorities, and the life you’re building beyond the business.

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