Hi,
I am looking at a gas station which is for sale. Based on what the owner is saying its a good deal. How do I make sure that Its a profitable business? what are the numbers I should be looking at when I buy a gas station? At this time when gas is so high is it a good idea to own a gas station. Any thoughts who has experience in the gas station convenient business is greatly appreciated, thanks,
2006-06-22 12:14:21 · 4 answers · asked by gt2006_007 1 in Business & Finance ➔ Small Business
The best routes to take are to research the process of starting a business as well as the industry you're interested in.
Associations may be a good avenue to explore as well. These organizations will address many of the thoughts, questions and concerns you'll inevitably have as well as many you haven't anticipated yet. See the source box for some relevant links.
Research, research, research – this cannot be stressed enough. Read as much as you can about the industry. Here are some book titles that are relevant:
* Specialty Shop Retailing: How to Run Your Own Store Revised by Carol L. Schroeder
* The Small Business Owner's Manual: Everything You Need To Know To Start Up And Run Your Business by Joe Kennedy
* How to Get Rich in the Service Station Business by Edward R. O'Donnell
Hope that helps! I wish you much success & happiness in all your ventures!
2006-06-23 09:23:52 · answer #1 · answered by TM Express™ 7 · 0⤊ 0⤋
Most gas stations would not survive in this environment without either a convenience store or a garage or both. For an indendant gas station owner, the profit magin on fuel is extremely low. Even if the station is not affiliated with a major oil company, it must still purchase fuel from the same refineries. The logo on the tanker truck means nothing. Think about it. There are no "independent" oil well diggers out on the Arabian sands.
Look carefully at where your profit comes from.
2006-06-22 12:22:41 · answer #2 · answered by Vince M 7 · 0⤊ 0⤋
Ask yourself this question? Why does he want to sell? Convenience store is a hard line of work.
2006-06-22 12:20:04 · answer #3 · answered by HastyBabe 4 · 0⤊ 0⤋
the location is a very important factor. If in a high traffic area with not many close by competitors is always good.
2006-06-22 12:18:27 · answer #4 · answered by niceguyjbw 4 · 0⤊ 0⤋