Top 9 Tips for Opening a Convenience Store

2. Equip Your Store with Necessary Tools

After successfully choosing the desired location and surveying the premises, the next step is to stock equipment in the store. You can research information online or through recommendations from friends to buy shelves or stands that are still in good condition and reasonably priced. If not, you can explore sources for new items. Pay attention to arranging them in an eye-catching and neat way. Always keep the shelves clean and dust-free. Then comes the management part. If the store is small, you may not need an immediate management system. However, for larger stores, a management system is crucial. Install surveillance cameras for easy monitoring.

To kickstart your business, collaborating with wholesalers and marketing representatives of each brand is essential to source various goods and essential products (alcohol, beer, tobacco, household items, etc.). In the initial stages of opening a grocery store, you can obtain goods from distributors and wholesale supermarkets. Be cautious not to be enticed by bulk purchase promotions and discounts when starting and avoid overly trusting marketing representatives. In some cases, to push slow-moving or low-quality inventory, unscrupulous entities might tarnish the reputation of marketing representatives to persuade you to make purchases. Ideally, request samples for comparison before placing bulk orders.

Once your grocery store is established, brand representatives will automatically approach you, discussing direct product supply. Direct sourcing from them often leads to reduced procurement costs, and you may even benefit from discounts and commissions when prominently displaying their products in your store.

Offering additional small gifts such as pens or cute erasers for young customers is sure to leave a positive impression on parents. The promotional value doesn't have to be excessively high. Many convenience store owners also try to retain customers by reducing additional profits, selling products at lower prices compared to convenience stores.

For customers making larger purchases, you can also establish a home delivery support program for those with substantial invoices.

Many small and medium-sized grocery store owners believe that they don't need to register their business. However, this is a common misconception. For small grocery stores to operate smoothly, it's necessary to register as an individual or family business with the local business registration office in the district where the store is located. Larger grocery stores may require additional documents such as a certificate of compliance with food safety and hygiene conditions, a fire safety certificate, etc. After business registration, tax payments to the state budget will be required. The two types of taxes you need to pay are the business license tax, around 500,000 - 700,000 VND per year, and the business tax, ranging from 300,000 - 500,000 VND per month.