The Risk of Overworked C-store Owners

The convenience store industry is demanding and continuing to grow and evolve as time goes on.  While c-store ownership holds a lot of appeal, it also presents quite a few challenges and lifestyle changes.  Today’s convenience store owners, whether they own one or many stores, work very hard and have many more responsibilities than the typical working adult.  With single-store operators accounting for 63.1% of all the c-stores in the country (97,359 total stores)¹, the overworked store owner is a lot more common than most realize and not a group that should be overlooked.

Why are c-store owners so stressed?

When most people think of owning their own business they think of the benefits:

• Setting their own hours
  • Store owners can choose to stay open as late as they’d like to, or even for 24 hours if they want.
• Setting their own prices
  • Convenience stores often become the ‘go-to’ location for affordable essentials, emergency items, and impulse buys.
• Having the ability to add to the community
  • Convenience stores benefit the local economy and job market for the areas they are located in.
• Choosing what to carry in-store
  • There are plenty of opportunities to add the newest and most popular products to inventory.
• Ability to make changes to the business as needed or wanted
  • The c-store industry is changing and evolving every day and owners can add to or change their stores without much challenge.

However, these benefits often come with plenty of challenges:

• Long working hours
  • Many convenience stores open early and close late, requiring more man power than the average retail business.
• Profit margin risks
  • Getting good prices on the products customers want can be difficult.
• Large variety of inventory to manage
  • Convenience stores are expected to carry many products from loaves of bread, to batteries.
• Property management difficulties
  • Consumers are much more likely to return to a store that is clean and up to date.
• Loss prevention
  • Convenience store robberies make up about 6% of all robberies, and many locations are victimized repeatedly.²

Because finding and keeping reliable and trustworthy employees to help operate a convenience store is difficult, independent retailers often find themselves taking care of everything by themselves.  When store owners are handling everything from inventory ordering to mopping the floors, they can quickly become overwhelmed with just one day’s work.  As society continues to demand more and more of the convenience industry and retail in general, the rise of the “24-hour society” is placing even more pressure on the c-store owner than ever.  Competition keeps heating up and the desire to succeed keeps hardworking business owners doing whatever they have to to remain a value to their customer base and make as much money as they can.

When the stress becomes too much…

While some would say that a hardworking dedicated store owner working over 70 hours per week at their own business is just a sign of passion, these store owners can easily spread themselves too thin.  Today’s single-store owner and operator spends very little time with friends and family, and even less taking part in recreational activities.  Besides simply having less time outside of the store, the overworked c-store owner/operator can easily become burnt out and lose sight of things that are important for their business.

Studies have shown that besides simply being exhausted, people who work extended hours without breaks are much more likely to suffer from a number of ailments like cancer and depression⁴.  Many store owners are simply unaware of these risks and are putting themselves in danger without even realizing it.

How to avoid overworking yourself

Of course the number one way to reduce the amount of responsibility that rests on your shoulder is to hire enough employees to help operate the store.  By training employees properly to take on a number of tasks, you allow yourself more freedom to tackle those business development projects you haven’t had time for, or simply get some extra sleep.

Outsourcing other functions like accounting and even human resources is a great way to free up some more spare time.  Look to work with partners that will help you accomplish your goals and continue building your business.  With even just some of the time consuming and challenging tasks out of your hands, you have the opportunity to enjoy more time doing the things you enjoy.

1. http://www.nacsonline.com/research/factsheets/scopeofindustry/pages/industrystorecount.aspx
2. http://www.popcenter.org/problems/robbery_convenience/
3. http://www.cnbc.com/2015/09/10/convenience-store-owners-under-pressure.html
4. http://www.conveniencestore.co.uk/advice/overworked-retailers-are-risking-health/210775.article