Q&A for How to Start a Convenience Store

That depends on many factors, starting with whose 3,000 square feet of property you're purchasing and where it's located. They could be nice and let you off cheap or if they know you're desperate they can raise the price. Then the size and type of building will affect the cost to build, and if you need to purchase a lot of equipment that will also raise the start-up costs.

Keep a log book to keep track of supplies, purchases, income, debts etc. Make sure you're not vulnerable to theft, and be alert about everyone in the store. Be nice and courteous to customers since you're the only worker there and the representation of the service. When you have difficulty doing something, don't be afraid to ask help from someone or hire someone.

It's possible, but starting is business is very expensive and complicated -- your parents/legal guardian will have to do most of it.

Starting, buying and running a convenience store can carry a hefty price tag. Though the cost to stock and maintain inventory in a convenience store varies widely, even the smallest convenience stores may have as much as $20,000 in inventory. Stocking a typical, even slightly larger convenience store can cost much more. Then there are other factors like rent and utilities, employee salaries and delivery costs.

Yes. Determine a budget for startup costs. This will largely depend on the cost of real estate in your area, and what service and items you plan to offer. Do your research, and consider the costs of businesses in your area to determine your budget.

You can't get money from the government, only a tax deduction from the IRS.

To forecast if you will be successful, take a good look at your foot traffic and ensure you have reasonably priced items and make sure you have a competitive edge over your competitors. Also check your store is in a place without other competitors too close by, as that will dilute your profits.