There are three things that make a gas station successful: location, location and location.
Whether you are planning to build a new gas station or acquiring an already running one, the location is something that must play the most important part in your decision making.
However, choosing the right location is not as easy as it seems. There are several factors that need to be considered and a lot research needed; after all, gas station is a significant investment.
Here are some important considerations to have in mind:
Level of competition
Assessing the level of competition can be quite tricky. While investing in an area where there is low competition and adequate demand is a good strategy, it does not mean potential success. Investing in a busy road of New York, San Francisco or Boston, with cut-throat competition, will prove to be a better strategy than an area with low competition.
This is because no one likes to wait for getting gas, especially on a busy day. So as far as the customers go, the more gas stations there are in the area, the better; as waiting in a line is a nuisance. So in a tough completion like this, the winner is the one who can drive out traffic as quickly as possible.
Accessibility
The gas station should be easily accessible. This means that cars should be able to easily enter and exit the gas station. Drivers will avoid turning into a gas station which makes it a hassle to work around.
Make sure that the location is easily accessible to heavy traffic and goes with flow. The side of the road can also make a huge difference. One side may have more traffic than the other, especially during rush hours.
Future Projects
Construction of overhead bridges or buildings could hamper the accessibility of the gas stations in the future. This is why proper research is important before making an investment. A steady stream of traffic could reduce to a trickle if a project is started anywhere near your gas station.
History of the site
It is very important to know and understand the property laws that are prevalent in the State. Also learn about the history of the site to see if there have been any legal complications pertaining to this site in the past. You will also need to learn about any safety hazard that is present in the area, such as a gas leak.
The last thing you want is the government to shut down your station due to safety hazards or a dispute.
If you are looking for supplies for your new gas station, then you don’t need to look further than John W. Kennedy Company. We provide a whole range of gas station equipment, like gas pumps, gas station pump parts, petroleum equipment and fuel management equipment, with over 70 brands in our catalogue. Visit our website for more details or contact us by dialing 1-800-238-1225.