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American Business Brokers & Advisors Founder & President MERGERS & ACQUISITIONS BUSINESS VALUATIONS
SEPTEMBER 2025
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And the Consolidation of Convenience Stores Continues
At least once a month, I get an inquiry from a trade magazine or from one of my clients asking whether I think the consolidation of convenience stores is going to continue. They will always cite issues like high interest rates, increased costs in the building of a new store, the lack of finding good employees, and a multitude of other reasons why the consolidation of convenience stores should not be as aggressive as it is. And, of course, they always ask the question, "Since all these factors are in play, how can the consolidation continue?" My answer is always the same, regardless of how high the interest rates are or how crappy the economy is, which is that consolidation has to continue because of demographics. As the owner of American Business Brokers & Advisors, I get the opportunity to have an inside look at the sale of all kinds of businesses throughout the United States because I have
brokers who work for our company who are general, main street business brokers. This means they sell every kind of business you can imagine, from a uniform rental stop, to restaurants, bars, grocery stores, and machine shops. By selling these different kinds of businesses, you eventually get to see a trend in the business community. The trend I am referring to is that the majority of businesses being sold (excluding those being sold because of a death in the family, divorce, or a business on the verge of bankruptcy) are being sold by owners who are baby boomers and don’t have anyone to succeed them in the ownership of the business. For years, we have been told the baby boomer generation (defined as anyone born between 1946 and 1964) is the largest generation born in the United States, with a total population of 77 million. This generation has defined
But wait! It gets worse. The average decline rate of baby boomers over the next 10 years is expected to decrease at a rate of between 1.8 million and 2 million per year, which would mean that by 2035, there will only be about 50 million baby boomers still alive, and they will be old! I know because I am one of them. Knowing about the declining rate of baby boomers and a large majority of convenience stores are owned by baby boomers, and only 30% of family-owned businesses make it to the second generation, only 12% survive to the third generation, and only 3%–5% make it to the fourth generation, it doesn’t take a rocket scientist (or Elon Musk) to understand what is going on. Let’s go back to the business of convenience stores. My main role as the owner of American Business Brokers & Advisors is to value and help family-owned businesses learn what their convenience store business is worth in today’s marketplace and work with these families through the process of stepping away from their convenience store business, so it is obvious from the declining rate of baby boomers why the consolidation of convenience stores has to continue. Plus, unless you have more than 150–200 stores, chances are you don’t have the infrastructure needed to be competitive in the convenience store business. The only other choice you may have is to get small. If you have 1–2 stores and family members who can work in Continued on Page 2 ...
the world we live in today with all the new technologies we enjoy. However, this generation is also dying off at an alarming rate. In 2012, the baby boomer generation, which started at 77 million, had declined to 65 million, and it is estimated that in 2025, there will be only 60.4 million baby boomers still alive. (To quantify this number, it only includes individuals who were born in the United States and not immigrants.)
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How to Complain Effectively
You probably know someone who is always complaining about something. While none of us want to be that person, there are circumstances in which registering a complaint can be the catalyst for a positive change. The key is to complain productively instead of venting. It can feel good to blow off steam now and then, and experts agree it is not good for your mental health to bottle up negative thoughts. But dwelling on negativity without working toward a resolution to address the problem does not improve matters. After you vent your initial irritation, the next step is discussing your complaint with the person (or company/ entity/customer support rep!) who can help address the problem. Here are the four elements of effective complaining. • Think beyond the roadblock. Whatever the issue is, try to look beyond to the result you want to see. This can help you articulate helpful specifics rather than simply venting frustrations. The latter tends to escalate arguments or make people shut down. For instance, talk to a customer service rep about the results you want from them, and less about the problem you are facing with the company’s website. • Complain constructively. This means not only identifying problems but also offering potential solutions. The focus should be on the outcome you seek, not just the impediments to the goal. When you have thought beyond the roadblock, you can more easily visualize the path or steps to reach your desired outcome.
take the time to make a list of your requests, the reasons, what your issue is, and a list of possible solutions. If you can be clear and calm, you are more likely to get what you want. • Avoid personal attacks. You need the person you are talking with to help fix the problem, so it is important to address only the behavior at issue and not the person’s character. Calling a person names will get you nowhere. Instead, focus on the solution, and chances are you will get the situation resolved.
• Choose your timing wisely. Pick a time that works for you and the person you need to talk with. Don’t ambush them, and don’t
... continued from Cover complain while you are upset. You probably already know you shouldn’t send an email while you are angry, which is also true of discussing a complaint while you are in the heat of the moment. Don’t call a company while you are still seeing red, either; instead,
–Terry Monroe
the stores with you, then you have basically bought yourself a job, which is a good thing, and you can control your costs and make a good living.
of convenience stores while the market value of stores is still very strong, or am I going to be one of those who thought about stepping away and waited until the values of convenience stores cycled down into lower market values wished I had sold sooner?” To find out what your convenience stores are worth in today’s market, all it takes is an email to me at Terry@TerryMonroe.com , and with three pieces of information, I can confidentially share with you what your convenience stores would be worth in today’s market. I hope to hear from you soon before the market values cycle down, and we are all older, or worse yet, part of the declining baby boomer generation.
But if you are a family-owned business and have five, 25, or 45 stores, you will be squeezed by the larger convenience store chains when they start to move into your territory and build down the street, taking a large portion of your business. To make matters worse, you are a baby boomer, and you are running out of time to recapture the business. Anybody who has ever met me or listened to me speak at a convention or conference knows I am a positive person, but I am also a realist. Based on the demographics and the trends happening with businesses of all kinds, the outcome going forward says the consolidation will continue for at least the next 10 years. The only question you have to ask yourself is, “Am I going to be one of those who takes advantage of the consolidation
–Terry Monroe
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SUDOKU (SOLUTION ON PG. 4) Take a Break!
Find out, with just three pieces of information about your business, how we can provide a convenience store operator with a market valuation showing what their convenience stores and businesses are worth in today’s marketplace. Best of all, it costs you nothing and it is entirely confidential. Simply send an email to Terry@TerryMonroe , and in the subject line, put “3 Point Market Valuation” Information is the key to everything. Don’t play a guessing game. Get the information you need. TERRY’S ‘3 POINT MARKET VALUATION’
TERRY’S QUOTES OF THE DAY “Have you ever noticed that anybody driving slower than you is an idiot, and anyone going faster than
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you is a maniac?” –George Carlin
“Before you marry a person, you should first make them use a computer with slow internet to see who they really are.” –Will Ferrell “Just taught my kids about taxes by eating 38% of their ice cream.” –Conan O’Brien “When I was a kid my parents moved a lot, but I always found them.” –Rodney Dangerfield
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INSIDE 7824 Estero Blvd., 3rd Floor Fort Myers Beach, FL 33931 1 And the Consolidation of Convenience Stores Continues
Sudoku Solution
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How to Complain Effectively
Discover Terry’s ‘3 Point Market Valuation’
Secrets to Standout Sends
Tips for Modernizing Your Email Marketing MESSAGE MASTERY
HO-HO-HOLD OFF ON HOLIDAY PROMOTIONS! Holiday-related email promotions can be tiresome for customers already bombarded by plenty of distractions, so consider being one of the few vendors that presents them with an opportunity for a breather. Before a major holiday, allow them to opt out of holiday-themed promotional emails. LEARN FROM YOUR LEADING CUSTOMERS. First, if you haven’t devised a loyalty or rewards program for your most loyal patrons, consider doing so immediately. If you’ve already segmented and targeted your marketing to appeal to the most active people within your consumer base, take it a step further by utilizing them to strengthen the effectiveness of your email communications. Pay particular attention to what your most enthusiastic supporters click on and respond to. Their reactions are a valuable template for what may attract new customers. Email marketing in 2025 isn’t the computerized version of chiseling an ad into a stone tablet; it’s a still-relevant tool that can attract and retain consumers in an increasingly competitive marketplace.
Even in an age dominated by social media, many businesses still succeed by focusing on the more traditional model of reaching consumers through their inboxes. As with any marketing tactic, making your emails stand out and generate sales is the key to making your mailing list work for you. Here are three ways to sharpen your approach in 2025 and beyond. DON’T DROWN IN THE SOCIAL MEDIA SEA. Email marketing still has the advantage over showcasing your wares on TikTok, Facebook, X, or Instagram. For one thing, utilizing social media as your sole means of marketing is like sprinkling fish food in the ocean and hoping the right fish chows down. When you post on social media, you compete against political memes, duck-faced vacation photos, and all the other content users receive. By focusing on developing effective email marketing, you avoid subjecting your company to the algorithmic whims of social media platforms and hone in on your customers’ specific interests, buying habits, and demographics.
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