Where to Buy a Convenience Store for Sale in Canada

Buying a convenience store in Canada is usually a mix of finding the right listing (broker marketplaces, local brokers, franchise resale channels), then running disciplined due diligence on financials, lease/real estate, and regulated revenue streams like lottery, tobacco, and alcohol. The “best” place to buy depends on whether you want an independent store, a gas-and-c-store combo, or a franchised model with brand support and stricter rules.

Where to find convenience stores for sale

Most buyers start with business-for-sale marketplaces because they show asking prices, regions, and store types (independent, branded, with/without real estate, with fuel, etc.). A large example is FindBusinessesForSale’s Canada “Convenience Stores For Sale” section, which displays listings across provinces and often includes summaries like “gas station + convenience store,” “turnkey,” and whether land/building is included.

Another option is broad marketplaces like BizQuest, which also hosts “Convenience Stores for sale in Canada” listings (sometimes fewer than Canada-specific portals, but useful as a second source). In practice, serious buyers check multiple platforms because some sellers list exclusively with one broker network, and inventory changes quickly.

You can also buy via a franchise/resale route rather than purely independent acquisition, depending on what’s available in your target province and budget. For example, Circle K promotes franchising opportunities in Canada, which can appeal to buyers who want training, systems, and a recognized brand (at the cost of franchise obligations and fees).

How the buying process works (step-by-step)

A convenience store purchase is typically an asset purchase (you buy inventory, equipment, lease rights, goodwill, and contracts) or sometimes a share purchase (you buy the corporation that owns the store). Many deals begin with a Letter of Intent (LOI) setting out price, payment terms, due diligence period, and timeline, before final legal agreements are signed.

A practical end-to-end flow looks like this:

• Set your target: independent vs franchise, urban vs rural, with fuel vs without, leasehold vs includes property.
• Source listings: marketplaces and brokers; request a teaser, then deeper financials after an NDA if needed.
• Evaluate location and store condition: traffic/footfall, competition, rent level, renovation needs, and layout.
• Due diligence: review operational and financial records, inventory, employee info, customer/supplier data, and contracts.
• Confirm regulated items: verify what permits/licences are held (and transferable/obtainable), and what revenue depends on them.
• Negotiate definitive documents and close: finalize purchase agreement, lease assignment or new lease, inventory count, and transition plan.

Due diligence checklist (what to verify before you pay)

Due diligence is where convenience-store deals are won or lost, because margins can be tight and “sales” can look strong while true net profit is weak. A common request list includes three years of financial statements, an inventory schedule, and accounts receivable/payable, plus documents tied to the premises and legal status of the business.

Key diligence areas to pressure-test:

• Financial quality: verify sales by category (tobacco, lottery, grocery, beverages, prepared food), and confirm margins by category so you’re not overpaying for low-margin revenue.
• Lease and landlord consent: if leased, you typically need the landlord’s consent to assign the lease, and the lease terms can make or break cash flow.
• Liens, taxes, and compliance: legal diligence can include searches for tax arrears, liens/encumbrances, and reviewing zoning approvals.
• Contracts and “sticky” relationships: supplier agreements, franchise agreements, and lottery-related contracts (if any) should be reviewed for transferability and obligations.
• Intellectual property and branding: confirm what names, signage rights, domains, and trademarks transfer (especially important if the store has a strong local identity).

If you’re new to buying businesses, a lawyer who routinely handles convenience-store transactions can help you structure the deal, run searches, and avoid inheriting problems you didn’t price in.

Licences and regulated revenue (Canada-wide idea, province-specific reality)

Convenience stores often depend on regulated products and programs—especially lottery, tobacco, and (in some provinces) alcohol—which means you must confirm both eligibility and the time/cost to keep these revenue streams after closing.

In Ontario specifically, if you plan on selling lottery products on behalf of OLG (or break-open tickets), the Ontario guide notes you must be registered with the Alcohol and Gaming Commission of Ontario (AGCO). For tobacco, Ontario also has Tobacco Tax rules and related requirements that can affect registration, reporting, remitting, and record-keeping.

Alcohol can be even more complex. Ontario’s AGCO convenience-store licence obligation guide states that convenience store licensees must purchase all liquor from the LCBO, and it describes permitted product rules (e.g., beer/ready-to-drink/cider up to 7.1% ABV, wine up to 18% ABV, and container volume limits). The same guide also sets operational obligations such as permissible retail sale hours and display/storage requirements for liquor.

Because licensing and enforcement vary by province and sometimes municipality, don’t assume that a seller’s current licences automatically transfer to you (or that you’ll qualify under the same conditions). A smart approach is to make licensing (or at least “licensing eligibility”) a condition in your offer, so you’re not stuck owning a store that can’t legally sell its highest-impact product lines.

Tips for choosing the right store (and avoiding overpaying)

Location is repeatedly cited as a core driver of performance: demographic fit, traffic, competition, and rent all affect whether the store can sustain profit in tight-margin retail. Also, evaluate the physical condition of the store—renovations and equipment replacement can quietly add tens of thousands to your true acquisition cost, so price them in before you make an offer.

To stay buyer-useful, here are decision filters that map directly to real-world outcomes:

• Lease vs property: Buying the building can reduce long-term rent risk, but increases upfront capital and adds property diligence.
• Fuel or no fuel: Gas + c-store deals can add volume and multiple revenue streams (and sometimes higher complexity).
• Dependence on tobacco/lottery/alcohol: Strong sales can be fragile if they rely on regulated items, as you may not be able to retain them.
• Owner-operator vs semi-absentee: Many stores assume hands-on management at first, especially during transition.

Example: A listing might look “cheap” until you discover the lease is near renewal with a large rent increase, or that the lottery/tobacco setup won’t transfer cleanly. Both issues directly affect the business's value to you.

If you tell me your target province/city (e.g., Ontario GTA vs Calgary vs Vancouver suburbs), budget range, and whether you want a store with gas/alcohol/lottery, I can tailor a “where to buy + diligence checklist” specifically to that scenario.