Visit London chief executive Sally Chatterjee said the games had "unleashed a wave of entrepreneurial innovation" from businesses large and small.
James Brundle of The Village Stores in Walthamstow, East London, told Convenience Store: "We bought the store precisely because it was so close to the Olympic Park and we knew that the games would be a real money-spinner," he said.
"We're planning to install a post office in the next few months, and I've already got ideas for home-made Olympic pizzas and bread. This is a once-in-a-lifetime opportunity and we won't let it pass us by," he said.
The Olympic Park is under construction in Stratford, East London, and events will take place all over the city as well as in Manchester, Glasgow, Coventry and Weymouth, Dorset. Visitors are expected to come from all over the world, with 9.2 million tickets going on sale next year.
Andy Patel of Budgens Virginia Quay in London's Docklands said he was already seeing increased footfall from the influx of builders working in the area to complete hotels and transport links. "Several new hotels are set to open on our doorstep, which will undoubtedly lead to a surge in sales as people top up on drinks and snacks," he added. "I'm already thinking how I can develop my food-to-go section to take advantage of it."
In Weymouth, Nisa retailer Grant Purnel also has plans. "I've recently completed a large extension as athletes are already arriving to train in advance. I'm also planning to revamp my food-to-go area next summer as this will be key with spectators."