Checklist template

Franchisee business review for convenience stores

A ready-to-use checklist with 106 items in 6 sections, covering Sales, Margin, Inventory, Standards, People, Plan. Use it as-is in Bindy, or adapt it to your own standards in minutes.

  • 6 Sections
  • 106 Items
  • 78 Yes / No checks
  • 6 Scored ratings
  • 108 Points

Use this template How audits work

1. Sales 18 items

  1. In-store merchandise sales for the review period compared with the same period last year (% change) Number
  2. Customer transactions for the review period compared with the same period last year (% change) Number
  3. Average in-store transaction for the review period (dollars) Number
  4. Fuel volume for the review period compared with the same period last year (% change) Number
  5. Foodservice sales as a percentage of in-store sales (%) Number
  6. The franchisee reviewed the sales report by category before the meeting Yes / No 1 pt
  7. Sales by category were compared with the average of similar stores in the network Yes / No 1 pt
  8. The three categories furthest below the network average were identified Yes / No 1 pt
  9. A cause was agreed for each category that is below the network average Yes / No 1 pt
  10. Sales by daypart were reviewed to identify weak hours Yes / No 1 pt
  11. The share of fuel customers who also buy in the store was reviewed, where the report is available Yes / No 1 pt
  12. Loyalty program transactions as a share of total transactions were compared with the network average Yes / No 1 pt
  13. The results of the last promotional period were reviewed item by item Yes / No 1 pt
  14. The store took part in every network promotion of the review period Yes / No 1 pt
  15. Lottery, money order and other service commissions were reviewed Yes / No 1 pt
  16. Nearby changes affecting sales (new competitor, road work, large employer opening or closing) were discussed Yes / No 1 pt
  17. The franchisee can state the store's sales target for the current period Yes / No 1 pt
  18. Sales trend of the store Rating
    • Growing faster than the network 5 pts
    • In line with the network 4 pts
    • Flat while the network grows 3 pts
    • Declining 1 pt

2. Margin 18 items

  1. Gross margin on in-store merchandise for the review period (%) Number
  2. Gross margin for the same period last year (%) Number
  3. Fuel margin per gallon or liter for the review period (cents) Number
  4. Gross margin by category was compared with the network benchmark Yes / No 1 pt
  5. Retail prices in the price book match the network's recommended prices, or the differences were explained Yes / No 1 pt
  6. Cost changes from the wholesaler in the review period were passed into retail prices Yes / No 1 pt
  7. Purchases from suppliers outside the approved list were reviewed against the franchise agreement Yes / No 1 pt
  8. Rebates and vendor allowances due to the store were received for the period Yes / No 1 pt
  9. The conditions of the retail display allowance contracts with tobacco and beverage suppliers are met, per the suppliers' latest visit reports Yes / No 1 pt
  10. The share of sales made at a promotional price was reviewed for its effect on margin Yes / No 1 pt
  11. Fresh food waste as a percentage of fresh food sales was compared with the network target Yes / No 1 pt
  12. Cigarette and tobacco margin was reviewed separately from the rest of the store Yes / No 1 pt
  13. Labor cost as a percentage of gross profit was compared with the network benchmark Yes / No 1 pt
  14. Controllable expenses (utilities, repairs, supplies, card fees) were reviewed line by line against last year Yes / No 1 pt
  15. Royalty payments are up to date Yes / No 1 pt
  16. Advertising fund contributions are up to date Yes / No 1 pt
  17. The profit and loss statement of the period was available for the review Yes / No 1 pt
  18. Margin performance of the store Rating
    • Above the network benchmark 5 pts
    • At the benchmark 4 pts
    • Slightly below 3 pts
    • Well below 1 pt

3. Inventory 17 items

  1. Inventory value at the last physical count (dollars) Number
  2. Inventory turns per year based on the last count Number
  3. Shrink at the last physical inventory (% of sales) Number
  4. Date of the last physical inventory Date
  5. A physical inventory was taken at the frequency required by the franchise agreement Yes / No 1 pt
  6. The inventory was counted by an independent service or under the conditions set by the franchisor Yes / No 1 pt
  7. Shrink by category from the last inventory was reviewed with the franchisee Yes / No 1 pt
  8. Cigarette count variances for the period were reviewed day by day Yes / No 1 pt
  9. Lottery settlement variances for the period were reviewed Yes / No 1 pt
  10. Cash over and short for the period was reviewed by employee Yes / No 1 pt
  11. Write-offs for the period were compared with the network average by category Yes / No 1 pt
  12. Inventory value per category was compared with the level recommended for the store's sales Yes / No 1 pt
  13. Slow-moving items with no sales in the period set by company policy were listed for markdown or return Yes / No 1 pt
  14. Out-of-stock rates from the last franchisor store visit were reviewed Yes / No 1 pt
  15. Purchases for the period reconcile with the wholesaler statements Yes / No 1 pt
  16. Invoices are entered in the back-office system daily, with no backlog at the time of the review Yes / No 1 pt
  17. Inventory control of the store Rating
    • Shrink and stock levels within targets 5 pts
    • One of the two off target 3 pts
    • Both off target 1 pt

4. Standards 18 items

  1. Score of the last franchisor store standards visit (%) Number
  2. Score of the last mystery shop (%) Number
  3. Date of the last franchisor store standards visit Date
  4. Corrective actions from the last store standards visit were completed Yes / No 1 pt
  5. Customer complaints received by the franchisor in the period were answered by the franchisee Yes / No 1 pt
  6. The store passed its last age-restricted sales compliance check, internal or by the authority Yes / No 1 pt
  7. The last health inspection report showed no repeat violations Yes / No 1 pt
  8. The current planograms of the network are implemented in every category Yes / No 1 pt
  9. Network promotional signs of the current period are displayed Yes / No 1 pt
  10. The store operates the hours required by the franchise agreement Yes / No 1 pt
  11. Exterior image elements (canopy, fascia sign, price sign) show no damaged panels or unlit letters Yes / No 1 pt
  12. The foodservice program is run to the brand's recipes and hold times Yes / No 1 pt
  13. Fuel price sign changes follow the franchisor's or supplier's pricing instructions, where applicable Yes / No 1 pt
  14. Required insurance certificates are current and on file Yes / No 1 pt
  15. Business licenses and permits (tobacco, alcohol, lottery, food) are current, on a check of each document Yes / No 1 pt
  16. Equipment required by the brand (coffee, fountain, roller grill, register system) is at the current standard Yes / No 1 pt
  17. The online rating of the store was reviewed, including replies to recent customer reviews Yes / No 1 pt
  18. Compliance with brand standards Rating
    • Meets all standards 5 pts
    • Minor gaps 4 pts
    • Several gaps 2 pts
    • Major gaps 1 pt

5. People 16 items

  1. Employees on the store's payroll at the time of the review Number
  2. Employees who left in the last 12 months Number
  3. The franchisee or a designated manager works in the store during the hours required by the franchise agreement Yes / No 1 pt
  4. A trained store manager or shift lead is named for every shift of the week Yes / No 1 pt
  5. Every employee completed the brand's required training modules, as shown in the training report Yes / No 1 pt
  6. Age-restricted sales training is current for every employee who works the register Yes / No 1 pt
  7. Food handler certification is current for employees who prepare food, as required by local regulation Yes / No 1 pt
  8. New employees hired in the period completed onboarding before working alone Yes / No 1 pt
  9. The posted schedule covers peak hours with the staffing recommended by the labor guide Yes / No 1 pt
  10. Open positions at the time of the review are being actively recruited Yes / No 1 pt
  11. Employees receive a documented performance conversation at least once a year Yes / No 1 pt
  12. Robbery prevention and working-alone training is current for evening and overnight employees Yes / No 1 pt
  13. Employee files contain the documents required by company policy Yes / No 1 pt
  14. A successor or second-in-command is identified for the store manager Yes / No 1 pt
  15. The franchisee attended the last network meeting or regional franchisee session Yes / No 1 pt
  16. Stability and training of the store team Rating
    • Stable and fully trained 5 pts
    • Some turnover or training gaps 3 pts
    • High turnover and untrained employees 1 pt

6. Plan 19 items

  1. The action plan of the previous business review was reviewed item by item Yes / No 1 pt
  2. Actions of the previous plan that were not completed carry a new date Yes / No 1 pt
  3. Actions completed out of those agreed at the previous review (%) Number
  4. The review produced no more than 5 priority actions for the coming period Yes / No 1 pt
  5. Each action has a named owner Yes / No 1 pt
  6. Each action has a completion date Yes / No 1 pt
  7. Each action states the number it is expected to move (sales, margin, shrink, score) Yes / No 1 pt
  8. A sales target for the coming period was agreed Yes / No 1 pt
  9. A gross margin target for the coming period was agreed Yes / No 1 pt
  10. Capital spending needed (equipment replacement, remodel, lighting) was listed with a timetable Yes / No 1 pt
  11. Support requested from the franchisor (training, marketing, pricing, maintenance) was recorded Yes / No 1 pt
  12. Local marketing actions for the coming period were agreed Yes / No 1 pt
  13. Upcoming obligations (license renewals, remodel deadlines, franchise renewal) were confirmed with their dates Yes / No 1 pt
  14. The franchisee received a copy of the review and the action plan Yes / No 1 pt
  15. Date of the next business review Date
  16. Name of the franchisee Short text
  17. Name of the franchise business consultant Short text
  18. Engagement of the franchisee in the review Rating
    • Prepared and driving the plan 5 pts
    • Cooperative but unprepared 3 pts
    • Disengaged 1 pt
  19. Summary of the review and agreed actions Comments

About this template

This checklist is part of the Bindy template library. Yes / No checks score 1 point when met; ratings score the points shown for each option. The overall score is the percentage of points earned, with N/A answers excluded. In Bindy you can add photos, assign corrective actions, require sign-off and compare results across sites.

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