How do I keep a convenience store running smoothly while it is for sale?
Keep the store looking and working as it always has: stocked shelves, clean floors, regular ordering and normal hours. Buyers often judge the business by how it runs during the sale, so do not let attention drift, and keep your records up to date throughout.
Sales slip when owners lose focus. Keep ordering on schedule, even for items you might otherwise let run down, and keep shelves full and tidy. An empty cooler or a dusty corner tells buyers more than any statement. Keep to your usual hours, and do not cut back on cleaning or repairs just because you plan to leave.
Look after the people. Staff who hear about a sale may worry, and a good cashier who leaves mid-sale is a loss you will have to explain. Decide when and how to tell them, and be clear about what you know. Keep your rosters and routines the same, and ask your most reliable team members to help you show buyers around quietly.
Keep the records current too. Buyers will ask for recent sales, purchases and payroll, and a month of messy books can stall a serious offer. Update them each week, and keep a log of any stock you buy at an unusual price. Plan viewings for slow hours and keep a short list of what you have told each buyer, so your account stays consistent from one to the next.
Key takeaways
- Keep ordering, shelves, hours and cleaning exactly as they were before listing.
- Choose when to tell staff, and keep rosters steady so your most reliable people stay.
- Update sales, purchase and payroll records weekly, and schedule viewings in quiet hours.
Related reading
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Buying
Selling
- GuideSelling a pet supply store in Canada
- Expert answerHow do I account for unpaid family help when selling my convenience store?
- Expert answerHow can I make my convenience store less dependent on me before selling?
- GuideSelling a convenience store in Canada
- Expert answerWhat costs come with selling a convenience store?
- GuideWhat do I need to do to sell a convenience store in Ontario?
- Expert answerHow do I run an inventory count when selling my retail store?
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Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernmentHow to minimize negotiations when selling your business
- 02Business Development Bank of CanadaGovernmentHow to Find the Right Buyer for Your Business
- 03Business Development Bank of CanadaGovernmentHow to conduct due diligence when buying a business
- 04Business Development Bank of CanadaGovernmentWhat are financial statements?
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