Urban Value Corner Store might be small, but it’s mighty. The convenience-store chain has eight fuel-less stores in Dallas, and it plans to grow to 12 by the end of the year in that market.
It also has plans to expand to other metro markets with the opening of its first location outside of Charlotte, North Carolina, in first-quarter 2024, CEO and Founder Steve McKinley told CSP Daily News. Other potential growth areas could include Denver, Phoenix and major cities in Florida, he said.
McKinley chooses high-growth population markets because his stores are underneath or on the corner of apartment communities. “We’re all about serving the residents in these high-growth, high-density markets,” he said.
A typical store is about 1,400 square feet with about 1,000 SKUs, he said, and people on average spend less than two minutes inside.
Urban Value Corner Store’s goal is to improve the living experience of residents every single day, McKinley said. Each store has a product selection that will vary by location for whatever the community it’s in wants.
“Now, we know what the high-velocity SKUs are, and that duplicates between each of our stores, but beyond that, we listen very intently to what the residents are asking us to carry,” he said. “And if we hear it enough, and if we can source it, we’re going to start bringing it in.”
McKinley said he also likes to support the other amenities on the property. So if, for example, an apartment building has large barbecue pit, they will carry more barbecue supplies. The same for a dog park or pool. He also includes locally made goods to build the community feel to the stores.
Store clerks get to know customers on a first name basis, and team members are very in tune to the needs of people shopping in their stores. Employees gather feedback from customers, and that, along with data on what sells best, helps inform the product stocking decisions.
Being a smaller store gives Urban Value Corner Store the ability to change quickly, so it can expand or shrink sections more quickly than on a yearly planogram cadence.
To make a c-store successful without fuel, McKinley said an operator needs to have a purposeful business plan and carry the high-velocity SKUs for what residents want.
“We have very little shrink,” he said. “We have very little spoilage because of the turns that we do. We don't have back rooms in a lot of our stores. Whatever comes in, it goes right on the shelf, we sell it, the next truck comes in.”
Company culture is also key.
“We're thankful that someone walks through the door,” he said. “We're thankful that they're buying something, and we're going to make it as quick as a process as they want.”