Is this a good investment?
I want to buy a service station with Mart/Gas/Wash and Mechanic area. How much should I be expetected to pay? How much a year will I earn? It the business labor intensive meaning I am there the whole time 24/7? The owner claims earnings of 150k per year. Do gas stations owners work like slaves? Is it better to buy one with land as part of the business. What kind of financing could i get? Do Sba loans work? Is employee turnover a problem? Will I become rich owning service stations? Or should I run a property managment business instead?
2007-03-01 18:04:33 · 2 answers · asked by Suzy V 1 in Business & Finance ➔ Other - Business & Finance
how can we possibly answer these questions? honestly
2007-03-01 18:14:39 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Well first off the amount you can expect to pay is based on the market conditions of your area. How much you earn depends on the market the location the demographics and more. You will earn what you put into it. As far as anything more I would have to see the numbers evaluate the company and go from there. Yes owning any sucessful business does require many hours at first you need to learn the business, learn what works and what does not, and then after you have learned how to be sucessful then you can slow down. Some owners do work like slaves but what is your goal and what do you expect? Financing thats a difficult one here I would need to see your finances the business returns the flow sheet, cash flow projections, and more to figure out what financing avenue will work. Employee turnover is always a problem but what do you do as a business owner to retain them . Do SBA loans work?! Well it depends on the situation. Will you become rich ..Probably not from just one place but it is Possible if you expand but it takes time and even more money and a solid business plan. If you want to become rich a gas station alone will not do it But there are many other avenues that can. Property management is very time consuming and volitale and no you still will not get rich there alone. Write to me at billone44@yahoo.com I will try to answer any questions you have but keep in mind I am a professional so if you truly want to make money then be prepared to answer some tough questions
William Galloway
2007-03-01 18:34:51 · answer #2 · answered by billone44 2 · 0⤊ 0⤋