Markeing - Small Business Essentials Essay Example | Topics and Well Written Essays - 1500 words

Markeing - Small Business Essentials - Essay Example nience industry of Canada includes over 23,000 retail locations and, excluding automobiles, represents 8.6% of the total retail economy; it is ranked as 5th highest in its category. Every day one in every 3 stores is patronized by the Canadians. The purpose of convenience stores is to serve is the entire region of the population available but its main focus is on those customers who purchase their items besides the normal working hours. Either they get free from work at a later time or have shift working hours and it’s not possible for them to buy the stuff in the normal working hours. Many entrepreneurs try to come up with innovative ideas while they are starting up their new businesses. It should be kept in mind that to be successful for any new business, it should be innovative and attractive enough so that customers do come to check out the business value. With the changing trends of the market due to inflation and other factors, it was observed that there was slowdown in the manufacturing sector which created weaker jobs and now it is expected that sales will go down to be much slower in the years 2009 and 2010. According to sources Canada’s population is expected to be growing by 4% between 2007 and 2011, the data researched by Canadian Convenience Stores Association (2009) depict that the rate of consumer expenditure was high in 2007 and 2008 (4.5% and 3.4, respectively), but it decreased massively in the year 2009 and will further decrease in the year 2010. According to the Canadian Convenience Stores Association (2009), there are 3 main issues which the stores are facing as major challenges and they are firstly the illegal sale of tobacco, secondly the credit card transaction costs, and lastly, the over regulation phase. Couche-Tard is one of the largest convenience store operators that are operating in Canada. Analyzing his success rate, if he were to start up his business again he would know what all loopholes are that still exist in his