To recall, the business model canvas has two parts, the front-end and the back end elements. If you are new to this concept, please watch my 3 minute business canvas video to improve your understanding.

 

Just to recall, there are 5 elements in the front end, and 4 elements in the back end.

 

Your customer segments may include employees who need to do quick buys outside working hours, people who do night shopping, those who have limited time to shop, or your neighborhood, schools, offices around your shop, etc.

 

Then your value propositions are, for instance, attractive prices, longer operating hours, variations of products/services sold, delivery services, simple food that can be consumed on the spot, hot drinks like coffee or tea, staff hospitality, comfortability and safety, enough parking space, less queuing time, methods of payment, and so on.

 

The channels can be done through your own website or third parties such as Amazon, eBay, etc. You can also optimize your Facebook, Instagram, or Whatsapp.

 

Customer relationships components may consist of obtaining feedback from your customers, memberships programs, leaflets, referrals, banners, testimonials, community event sponsorships, and so forth.

 

Your revenue streams can be earned from selling your products and services, upselling programs, clearance sales, referral programs, and packages for special occasions. You may also do franchise to expand further, or by selling fast food, drinks, etc.

 

Components in the key resources may include acquiring sufficient funding for your business, brand if you start as a franchisee, automation such as vending machines and self check out counter, interesting store layouts, strategic location and so on.

 

Your key activities may comprise continues training for employees, refreshing store layout/design regularly, identification of goods and services needed by people around your store, cleanliness, stock management, etc.

 

Key partners are for instance your franchise partner, your suppliers, government agencies for permits, training events, or other supports, or can be banks, investors, your family, friends or even other convenience stores.

 

The last element, cost structure, may include your and your employees salaries, commissions, stocking costs, maintenance fees, and other costs related to other elements of your business model, etc.