As we exit 2021 and move into 2022, mergers and acquisitions of C-Stores are rampant across the country. Existing known C-Store brands are expanding their footprint and rounding up stores, performing changeovers quickly and confidently to display their shiny new signs and entice customers into their already profitable and well-functioning stores. Additionally, smaller brands are looking to grow and expand their footprint by participating in the acquisition boom. With stores deciding to close their doors due to the pandemic, cash-flow, or staffing issues, there always seems to be someone waiting in the wings to snatch it up. Whether it is a private investor new to the industry, an individual wanting to join a well-known franchise, or an established industry leader – if the store is for sale, it is likely to find a buyer.
Industry sites like cspdailynews.com and csnews.com, are posting each day. Have you seen your inbox updates increase with news of upcoming mergers and/or acquisitions? With changeover times moving quickly, providing seamless transitions and little downtime where the doors are physically closed if they are at all is critical to success. Regardless of how “easy” these changeovers may appear to the outside eye, there are very many key players making this process happen quickly, and accurately and a lot of work goes into making it successful.
Changeover Audits
During a changeover of a C-Store, one key piece in getting it complete is the changeover audit. This process requires accurate counts of the store inventory, producing detailed reports that are consistent with the store records, for the deal to be complete. When acquiring copious quantities of sites across different states or within one state, having an outsourced inventory auditing team perform these audits is essential to making the process smooth, accurate, and successful.
This is what we do.
Quantum Services (we only count c-stores) has extensive experience with changeover audits, helping our clients complete their acquisitions on time and correctly. In 2021, Quantum was privileged to work with amazing brands requiring these audits, assisting in the deals with best practices, accurate counts, and friendly service. Our teams perform financial, hybrid, and item level scan inventory services for C-Stores across the United States, acting as the front-line force to help our clients obtain accurate inventory data for all their changeover activity. One acquisition Quantum Services assisted with was in June 2021 when current client Giant Oil grew from 6 to 34 company-operated stores with the purchase of C.E. Taylor Oil! Giant Oil acquired 28 stores in Indiana and Kentucky from C.E. Taylor Oil dba Chuckles, and Quantum performed 28 item level scan changeover audits over five days to help complete the deal.
Quantum Services Changeover Activity in 2021:
With all the challenges these last two years have introduced into our world, our lives, and our industry, a determination was born and survival of the fittest has come into play. As brands are growing, stores are expanding, and convenience has been taken to the next level. To stay relevant, stores are participating in online ordering, delivery, curbside pickup, fresh and healthy food service, gourmet coffee, and loyalty programs. The number of products has increased, therefore, so has inventory. Being able to manage your inventory during a changeover or just day to day, is a must-have function within your C-Store. Quantum Services can help. We have knowledgeable staff, trustworthy technology, and focus on the integrity of our numbers and our people. As you broaden your footprint and expand your business, you want Quantum Services on your side to ensure the quality and accuracy of your inventory count and your investment. Contact us today to learn more about how we can help.