I'm going to leave a comment on every mini-mart video because they are so fun to watch. Call me crazy but like you, I think the figuring out the system, inventory, vendors, etc seems like a lot of fun. Work yes, but fun also.
It’s only fun if there’s money to be made or else it’s just a waste of time. No ones getting rich off of owning a liquor store so hes just doing this for fun. Someone who had to actually live off of owning a liquor store would regret it real fast and be a lot more stressed out. It wouldn’t be “fun.” Its fun when its just a hobby.
@@patrick553 If you watched previous videos you saw how even the sales in the first week were at least at break even. Mark showed how just having sales in the $1,500/day range was already a $100,000/year profit for a side project. Imagine when Mark hones that in. If he can get sales into the $2,500/day range, which he already hits on weekend, while maintaining a 40% gross profit average, he'd net close to $200,000/year cash without having to work at the store himself. Pretty easy money for a few months of startup effort.
I know it’s the system you use…. BUT every time you say it or I see it in print ( like the notification ) I just got, I see POS and my first thought doesn’t go to your system LOL
Interesting experience Mark - install ATMs maybe or idk lol to attract some more customers. Thanks for video !! Very curious. Vape cartridges gonna be at least not bad addition to assortment.
i know you were having problems with your scanner. How do You scan stuff in the system at the shelf or do you bring the products up to the register and scan them in?
Hey, glad you're getting things sorted out to your liking 🖖 Mark, how about looking around for a used gourmet food truck, park beside the store, and operate out of that? All the best, 🖖🙏🇨🇦
You should be concerned that no one is counting inventory as it’s coming in. Most things could be counted while still on the dolly. I guess I’m super old school running stores in the late 80’s. Every thing was manual. What kind of things have customers been asking for? Find local products like beer, wine, pastries even beef jerky.
If you can find lower prices to be delivered will help your store to draw in more customers. Ask the customers what they would like to see in the store.
Loyalty programs are great. I'd be willing to pay a few extra pennies if there's a reward later. Come in for lottery and hey let me grab a drink and sandwich. Chips. Candy bar.
Great progress, and it's great that you have employees willing to use their time to help out, but "purchasing" is a job in and of itself (as is delivery).
I think once you get everything set into your system you’re going to have a realization. And you’re starting to now when you notice how much Pepsi products cost. In my many forays into retail I quickly learned that it’s distributors and manufacturers that are really making the money. Retails get shafted. Also as far as serving hot food like pizza and sandwiches be prepared to throw away money (Which is usually A part of costs). Your state will probably tell you how long food can sit out under a hot lamp before it needs to be tossed. Also people aren’t gonna want to buy something it looks like it’s been sitting out all day. And of course if they get a surprise crunchy dehydrated sandwich that’s been hiding in foil they’ll never eat there again. I think I said it a few videos back but I would just avoid hot food all together.
I thought so too because the previous owner did it and I thought it was illegal. turns out it's legal here and many stores do it. If you show you have a businesses that resells you can avoid sales tax as well. Costco and Sam's have business accounts for stores like mine to resell as well.
Glancing at those sales figures, it seem impossible that you'll ever turn a profit after paying employee benefits and compensation, depreciation, amortization, rent, utilities, insurance, etc.
I hate to agree with you, but I do. My wife and I had a small store for a while and never turned a profit. However, I wouldn't put it past Mark to turn a profit though. He is on another level. The good thing is that he has the rentals upstairs.
Great to have a behind the scenes look at a store operation. Thanks.
You bet
Excited to watch you dial it in!
thanks!
I'm going to leave a comment on every mini-mart video because they are so fun to watch. Call me crazy but like you, I think the figuring out the system, inventory, vendors, etc seems like a lot of fun. Work yes, but fun also.
yes!
It’s only fun if there’s money to be made or else it’s just a waste of time. No ones getting rich off of owning a liquor store so hes just doing this for fun.
Someone who had to actually live off of owning a liquor store would regret it real fast and be a lot more stressed out. It wouldn’t be “fun.”
Its fun when its just a hobby.
@@patrick553 the lady who owned it before me made a living off it for 20 some years
@@patrick553 If you watched previous videos you saw how even the sales in the first week were at least at break even. Mark showed how just having sales in the $1,500/day range was already a $100,000/year profit for a side project. Imagine when Mark hones that in. If he can get sales into the $2,500/day range, which he already hits on weekend, while maintaining a 40% gross profit average, he'd net close to $200,000/year cash without having to work at the store himself. Pretty easy money for a few months of startup effort.
Congratulations on keeping a small store open. So many stores close up and leave small towns devastated.
👍
I know it’s the system you use…. BUT every time you say it or I see it in print ( like the notification ) I just got, I see POS and my first thought doesn’t go to your system LOL
well quickbooks certainly was...
Interesting experience Mark - install ATMs maybe or idk lol to attract some more customers. Thanks for video !! Very curious. Vape cartridges gonna be at least not bad addition to assortment.
We have both!
i know you were having problems with your scanner. How do You scan stuff in the system at the shelf or do you bring the products up to the register and scan them in?
I found a wireless scanner!
@@investfourmore But what are you scanning it into? A tablet? the clover system?
@@marksmith4512 clover
Hey, glad you're getting things sorted out to your liking 🖖 Mark, how about looking around for a used gourmet food truck, park beside the store, and operate out of that?
All the best, 🖖🙏🇨🇦
Maybe we can rent a spot to one 😁
Intersting stuff.
agreed!
When someone pays with a credit card, what percent of the sale goes to the credit card company? Is it the same with debit cards?
Debit card is much cheaper.
Part of me wishes I could get to your mini mart's town just to shop there.
I've been there and it is a very nice small store
@@christmascandytree437 thank you!
You should be concerned that no one is counting inventory as it’s coming in. Most things could be counted while still on the dolly. I guess I’m super old school running stores in the late 80’s. Every thing was manual. What kind of things have customers been asking for? Find local products like beer, wine, pastries even beef jerky.
Nice work Mark.
Can you buy coke and milk from Costco or Sam's club on a weekly basis? I appreciate this video. It's nice seeing behind the scenes.
Is there apartments upstairs
If you can find lower prices to be delivered will help your store to draw in more customers. Ask the customers what they would like to see in the store.
We do all the time!
Loyalty programs are great. I'd be willing to pay a few extra pennies if there's a reward later. Come in for lottery and hey let me grab a drink and sandwich. Chips. Candy bar.
👍👍
Great progress, and it's great that you have employees willing to use their time to help out, but "purchasing" is a job in and of itself (as is delivery).
agreed!
I think once you get everything set into your system you’re going to have a realization. And you’re starting to now when you notice how much Pepsi products cost. In my many forays into retail I quickly learned that it’s distributors and manufacturers that are really making the money. Retails get shafted. Also as far as serving hot food like pizza and sandwiches be prepared to throw away money (Which is usually A part of costs). Your state will probably tell you how long food can sit out under a hot lamp before it needs to be tossed. Also people aren’t gonna want to buy something it looks like it’s been sitting out all day. And of course if they get a surprise crunchy dehydrated sandwich that’s been hiding in foil they’ll never eat there again. I think I said it a few videos back but I would just avoid hot food all together.
Pepsi is very affordable and has tons of cool programs. coke is expensive!
you need more shelfs at the back to make easier to control your stock and easier to count.
Check the laws in your area about bringing things to the store to resell. You would be breaking laws in our state.
I thought so too because the previous owner did it and I thought it was illegal. turns out it's legal here and many stores do it. If you show you have a businesses that resells you can avoid sales tax as well. Costco and Sam's have business accounts for stores like mine to resell as well.
@@investfourmore Good! I was worried. Didn’t want you to get in any trouble!
Glancing at those sales figures, it seem impossible that you'll ever turn a profit after paying employee benefits and compensation, depreciation, amortization, rent, utilities, insurance, etc.
I hate to agree with you, but I do. My wife and I had a small store for a while and never turned a profit. However, I wouldn't put it past Mark to turn a profit though. He is on another level. The good thing is that he has the rentals upstairs.
2k a day is $700k a year. we only need 1 employee working at a time.
He’ll turn a profit but he’s doing this as a hobby, not to get rich. No ones getting rich off of owning 1 liquor store in the middle of no where.
@@patrick553 Unless the middle of nowhere turns into somewhere.
@@chadwygal2077 When nowhere turns into somewhere, all the large businesses come and put you out of business.
drop coke and double your money today!
Crazy thing is, I as a consumer can buy it cheaper (not even on sale) than he can as a store.
It is better to be making money, than to be hemorrhaging it.
true!