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American Business Brokers & Advisors Founder & President MERGERS & ACQUISITIONS BUSINESS VALUATIONS
MAY 2025
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Convention Time Pays Off on How to Increase Sales & Drive Traffic to Your Store
I just spent several days visiting the MPACT trade show in Indianapolis, a four-state convenience store convention representing Illinois, Ohio, Indiana, and Kentucky. There was a good turnout, and it was a vibrant show. However, if you have ever spent much time at trade shows, you know that to really learn what is going on, you have to talk to the people individually and get the real story.
described, and I told him I was happy for him because of what he had built and the amount of work and money he had invested. Then, to top things off, I asked him about everything he had put into the new store, what was the most popular addition with his customers, and what brought in the most traffic to the store. Remember, he has a very good food offering, video gaming, and a state-of-the-art car wash, but I about fell over when he looked at me and said the number one thing that drives in a lot of people was that he offers “Free Air.” Yes, free air. He laughed when he told me how astounded he was when he saw so many people come to his store because he offered free air and, in return, they became customers for other items and services the store offered. He said everybody else in town charged for air, and half the time, the air machines didn’t work. Next, I moved out of the convention and made my way to one of the hospitality rooms that was offered by the vendors. It was there where I ran into another convenience store operator who works in a major city, and his partner who was with him said he was the guy they sent in to turn a store around when its sales are in a slump, or it is a store they had just purchased. He was basically the workout guy who could turn a business around. Having bought a lot of businesses and been involved in quite a few workout situations myself, I began to ask more questions, such as how good was he? Well, they said they took a store that was doing 30,000 gallons a month to 200,000 gallons a month. Wow, how did he do it I asked? My guy said go ask him and he will tell you.
Over the next 10 minutes, the workout guy gave me a complete dissertation on how to turn a non-performing store into a highly productive store. First of all, you have to keep in mind that the stores the workout guy is assigned to are located in a metropolitan city with lots of rooftops, but the stores are poorly run. The workout guy said the first thing he does is research the area in which the store is located to determine who his customers are. He needs to know if they are Hispanic, construction workers, or blue-collar people who live near the store and visit the store. He said most store owners do not pay enough attention to who their customers are. They just order the same products that they do in their other stores, thereby not being able to provide the items their customers are looking for. I said that sounds too simple, and he said yes, it does, but most operators won’t invest the time and effort to get their product mix right. On the fuel side of things, he said he wasn’t a discounter, and he didn’t try to lead the market either, but he wouldn’t let anyone go below him on price. He said he would keep following until the market changes. Here again, I said it sounds too simple, but he replied that it works, and it has worked every time. Two different stories on how to add business to a convenience store in two different markets. I am glad I went to the MPACT trade show; otherwise, I would not have learned these great ideas. I can only imagine what else I could have learned if I was a convenience store operator. –Terry Monroe
Which leads me to the first convenience store operator I ran into while at the convention. I had visited his stores and was aware he had recently razed and rebuilt a store he had and did a fantastic job of building the new store. The store he built was well merchandised, with tall ceilings and lots of food offerings, and next door to his store was a video gaming room that looked like it was something out of Las Vegas. To top everything off, he had built a state-of- the-art tunnel car wash that was just killing it with lots of car washes.
He was excited to tell me how well the store was doing with all the amenities that I had
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The Back 9 of Life TAKE ADVANTAGE OF EVERY DAY’S GIFT
You know, time has a way of moving quickly and catching you unaware of the passing years. It seems like just yesterday I was young, just married, and embarking on my new life with my mate. But in a way, it seems like eons ago, and I wonder where all the years went. I know that I lived them. I have glimpses of how it was back then and of all my hopes and dreams. But, here it is. The back nine of my life and it catches me by surprise. How did I get here so fast? Where did the years go and where did my youth go? I remember seeing older people over the years and thinking that those older people were years away from me. I was only on the first hole, and the back nine was so far off that I could not fathom it or imagine fully what it would be like. But here it is. My friends are retired and getting gray — they move slower and look older now. Some are in better and some worse shape than me, but I see the great change. Not like the ones I remember who were young and vibrant, but like me, their age is beginning to show, and we are now those older folks we used to see and never thought we'd become.
that I wish I had done, but never did. But at least I know that even though I’m on the back nine, I'm not sure how long it will last. That when it's over on this Earth, it's over, and a new adventure will begin! Yes, I have regrets. There are things I wish I hadn't done, things I should have done, but there are many things I'm happy to have done. It's all in a lifetime and part of the journey. If you're not on the back nine yet, let me remind you that it will be here faster than you think. Whatever you would like to accomplish in your life, please do it quickly! Don't put things off too long. Do what you can today because you can never be sure whether you’re on the back nine or not. You have no guarantee you will see all the seasons of your life. So, live for today, and say all the things you want your loved ones to remember and hope that they appreciate and love you for all the things you have done for them in all the years past. "Life" is a gift to you. The way you live your life is your gift to those who come after you. Make it a fantastic one. Live it well, enjoy today, do something fun, and be happy ! Remember, "It is health that is real wealth and not pieces of gold and silver.”
Some of the things you learn as you get older are interesting like:
• Taking a shower is a real target for the day! And taking a nap is not a treat anymore, it's mandatory! 'Cause if I don't of my own free will, I fall asleep where I sit!
• Going out is good. Coming home is better.
• You forget names. But it's okay because some people forgot they even knew you!
• You aren't as interested in the things you used to care about anymore, but you really don't care that you aren't as interested.
• You sleep better on a lounge chair with the TV on than in bed. This is called "pre-sleep.”
• You miss the days when everything worked with just an "on" and "off" switch.
But old is good in some things: old songs, old movies, and best of all, OLD FRIENDS!
• You tend to use more four-letter words like “... what?" and “... when?"
Stay well, "Old Friend!" It's not what you gather, but what you scatter that tells what kind of life you have lived.
• What used to be freckles are now liver spots.
Today is the oldest you’ve ever been yet the youngest you’ll ever be, so enjoy this day while it lasts!
–Terry Monroe
And so now, I enter this new season of my life unprepared for all the aches and pains and the loss of strength and ability to go and do things
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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 “Between two evils, I always pick the one I never tried before.” –Mae West “I always wanted to be somebody, but now I realize I should have been more specific.” –Lily Tomlin “Happiness is having a large, loving, caring, close-knit family in another city.” –George Burns
WORD SEARCH
BLOOM CINCO DERBY EMERALD
GEMINI GRADUATION LILY MEMORIAL
MOTHER ROSES TEACHER VETERANS
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INSIDE 7824 Estero Blvd., 3rd Floor Fort Myers Beach, FL 33931 1 Lessons From Trade Shows and 2 Wise Operators
Sudoku Solution
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Every Day You Live Is a Gift
Discover Terry’s ‘3 Point Market Valuation’
Savvy Ways to Handle Difficult Customers
TURNING TENSION INTO TRUST
Smart Strategies for Handling Tough Customers
Rude customers are a growing problem for businesses.
what to expect from your product or how to interpret the instructions. In some cases, the customer’s problems may have nothing to do with your company. They could be looking for attention or venting to ease their own anxiety over other issues. To understand the problem in depth, allow the customer to voice their complaints completely — don’t interrupt them. Practice active listening by making eye contact, avoiding distractions, and signaling your interest by verbally confirming you hear their concerns. Repeat a description of the customer’s complaint to show that you understand. For example, you might say, “If I understand you correctly, you’re upset because the
product you received arrived too late for you to use.” This shows the customer you’re paying attention and validates their emotions. Figuring out the underlying issue can help you respond most effectively. Even if your business is not to blame, never descend to the level of an irate customer by abandoning your professionalism, politeness, or respect. Instead, apologize for their distress and work with them to find a solution. With luck and a little skill, you can turn that stressful encounter into an opportunity to show you are committed to excellent service — and transform that irate customer into a loyal, trusting fan.
According to the Society for Human Resource Management, more than 70% of workers experienced or witnessed acts of incivility daily for three months in 2024, damaging employee productivity and morale. Is it ever okay to “fire” a customer? Or is there a hidden upside to investing the time and energy required to win them over? Challenging customers allow you and your employees to practice active listening and show empathy for the customer’s anger or frustration. Consider the possibility that the customer is having trouble understanding
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