Neighborhood convenience store

Nearby residents, commuters, students and workers who want a quick stop for everyday items without a trip to a supermarket.

You buy stock from wholesalers or distributors and sell at a markup. Profit comes from steady daily traffic, a good product mix and keeping rent, waste and theft under control. Extras like ATM fees or prepared food can add to sales.

• Customer service
• Ordering and stock control
• Basic bookkeeping
• Managing staff schedules

• Check zoning for the site and any city or county business license and certificate of occupancy requirements
• Check your state for a sales tax permit and for tobacco, alcohol, lottery or vape retail licenses, each usually has its own rules
• Check the health department rules if you sell prepared food, hot drinks or deli items
• Selling tobacco has age verification rules, so check federal and state requirements and train staff
• General liability, property and theft insurance, plus workers' compensation once you hire
• Long hours, thin margins and shrinkage from theft or spoiled goods, so check the numbers before signing a lease

Startup costs are typically around $50,000 to $250,000, depending on location, lease deposits, fit-out and opening stock. This is an estimate, so check the numbers before signing a lease.

Monthly revenue is typically around $25,000 to $120,000, depending on location and hours. It is an estimate, and margins are thin, so check costs and shrinkage from theft or spoiled goods carefully.

Check zoning, your city or county business license and certificate of occupancy, and your state sales tax permit. Also check tobacco, alcohol, lottery or vape licenses, each with its own rules, and health department rules for prepared food.