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Appraising Convenience Stores

    Online Education
 
  Seminar    
Category  General [Gen]  
Attendance Hours  7.0  
Current Price  $ 114.00 Member
$ 137.00 Regular
 
  Instructor    
Robert E. Bainbridge, MAI, SRA  
    
 
  Location    
Appraisal Institute - Online Education
 
Click Here to check state approvals
     
 
  Sponsor / Contact    
Contact Name  John Witham  
  Appraisal Institute  
Email  tbe@appraisalinstitute.org  
Phone  (312) 335-4207  
 
  Description    
Overview:

This seminar is expressly designed to augment the experienced appraiser’s general knowledge and skill. It provides instruction in the appraisal of convenience stores but it does not present material about basic appraisal theories or fundamental appraisal practices.



It is impossible for an appraiser to conduct a productive interview with the convenience store owner, buyer, or seller without a working knowledge of the industry. When discussing a convenience store appraisal with an owner-operator, the appraiser must realize that fuel margins are less than in-store margins, that a new store’s average cost exceeds $1 million, and that the owner-operator struggles to compete with hypermarkets and mass merchandisers.



Module 1 of this seminar begins with a discussion of techniques used to assess and analyze convenience stores. Module 2 analyzes the supply of and demand for convenience stores in the subject’s local market. Module 3 explores specific valuation issues appraisers encounter in the appraisal of convenience stores.



Module 1 and 2 are designed to educate the appraiser about the industry and current convenience store business trends. They also provide the convenience store appraiser the resources to find more information about this industry. The valuation process can be considered only when the appraiser fully understands the economic and operational nature of convenience stores.



Module 3 provides an in-depth discussion of how the cost, sales comparison, and income capitalization approaches apply to convenience stores. The systematic and comprehensive analysis of the industry and local market presented in the previous chapters is equally useful for appraising proposed stores and existing properties. The current state of the industry, the economic conditions of the local trade area, and the adequacy of the site and improvements will ultimately determine how the appraiser estimates store profitability. This judgment is important to making the income allocation in the income capitalization approach.



Finally, we have a case study, which ties the whole material presented in these 3 modules. The case study is designed such that it gives the students hand on experience to apply the knowledge learned in the previous modules.




Syllabus:

Module 1: Industry Assessment

Module 2: Trade Area Analysis

Module 3: Valuation Assessment

Case study

Conclusion


Learning Objectives:

  • Describe the convenience store industry, current business trends, and the future direction of this retail trade channel.

  • Assess the current trends of the c-store industry and determine how they impact the operation and profitability of the subject.

  • Find the vital sources of information and data that are needed in the appraisal of convenience stores, including leading trade journal and industry reports.

  • Describe the trade area, quantify supply and demand within the local market, and assess how these factors influence the operation and profitability of the subject.

  • Analyze supply and demand for convenience stores within the trade area.

  • Find sources of data and demonstrate analytical tools that are helpful in trade area analysis.

  • Examine specific considerations and issues that are unique to the appraisal of convenience stores.

  • Apply the cost, sales comparison, and income capitalization approaches to a convenience store appraisal.

  • Identify specific considerations that should be made in the three approaches.

  • Develop an allocation procedure for processing the income approach, which incorporates the instruction of the previous modules of this seminar.

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      Disclaimer    
    Cancellation Policy
    If you are unable to complete a seminar once it begins, you may cancel out of the seminar before the official seminar end date. Once you cancel out of a seminar, however, you must start the seminar over at the beginning in any later enrollments. You cannot be placed into the seminar where you left off before canceling.

    The following tuition refund policy is in effect for canceled online seminars based on the amount of material completed in a seminar:

    • Less than 25% of the seminar completed: full tuition refund

    • More than 25% of the seminar completed: no tuition refund

    		   Transfer Policy
    If you wish to transfer a registration from one seminar to another, the following transfer policy applies based on the amount of material completed in a seminar:

    • Less than 25% of original seminar completed: transfer allowed

    • More than 25% of original seminar completed: no transfer allowed

    If you transfer from a lower priced seminar to a higher priced seminar, you will be responsible for paying the difference using the automated online system. If you transfer from a higher priced seminar to a lower priced seminar, an appropriate tuition refund will be issued.

    		    
    I agree to the terms and policies set forth under the Appraisal Institute Online Education Policy. I also certify that I am the person identified above under Personal Data and that I will personally complete each assigned module of instruction and any examination(s). I understand and agree that if I misrepresent my identity or arrange for someone else to represent himself or herself as me at any time during the Appraisal Institute online course or seminar, I will be immediately removed from the course or seminar and I will not be entitled to any refund. I further understand that if I am a member of the Appraisal Institute and participated in any misrepresentation of identity, by affirmative act or failure to act, that I will be the subject of a peer review proceeding under Regulation No. 6 for violation of the Appraisal Institute's Code of Professional Ethics and Standard of Professional Appraisal Practice, and that such peer review proceeding may result in termination of my Appraisal Institute membership.
     
      Additional Information    
    For online education, you will receive an email from the instructor on the morning of the session start date that will remind you of your login information and the website address to begin your program.

    To start immediately if you registered for an online education session in progress (on or after the session start date), go to www.appraisalinstitute.org and log in with the username and password you used when you registered. You will automatically be taken to the "My Appraisal Institute" page. Near the middle of that page your course will be listed with a link next to it that says "Go To Class".

    If you have any questions, please email us at tbe@appraisalinstitute.org.


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