NACS defines a convenience store as a retail business that provides consumers with a convenient location to quickly purchase a wide variety of consumable products and services, generally food and fuel.

While not fixed requirements, locations generally have the following characteristics: 

• Building size of less than 5,000 square feet;
• Off-street parking and/or convenient pedestrian access;
• Extended hours of operation, with many stores open 24/7;
• Offer at least 500 stock keeping units (SKUs);
• Product mix that includes a significant selection of beverages, food, snacks, tobacco, candy and other grocery items. 

For most retailers in the industry, inside sales from foodservice and merchandise generally drive profits.