Running a gas station isn’t a straightforward task. From managing fuel operations to fulfilling customers’ expectations, several factors must be considered to ensure consistent revenues and profitability.
One of the most challenging decisions that most gas station owners need to make is when to upgrade their gas station? Many of them think that it doesn’t actually make a big difference and continue their operations using old systems.
However, that’s not true. Upgrade gas pumps and dispensers can actually make a big difference and reap many benefits in the long-term. Let’s find out more!
Increase in operational efficiency means higher profitability
Like most businesses, the profitability of your gas station is strongly correlated with the operational efficiency at your facility. The latest gas pump equipment and new machines are incredibly efficient and can speed up the processes at your gas station.
For instance, a new, high-quality fuel dispenser can significantly reduce the wait times and allow you to cater to more customers in a shorter period. It will bring more traffic to your gas station and help improve your profitability.
Lower repair and maintenance expenditure
Old fuel pump machines and equipment are likely to break down more frequently and require an additional amount of maintenance to function effectively. Upgrading your gas pumps will save you thousands of dollars in maintenance and repair.
Moreover, the new gas pumps come with warranties, which means you don’t have to worry about shedding extra money in case it malfunctions or present any problems. It will drive down your operation cost and improve profitability.
Improved customer satisfaction will increase revenue
No one likes to wait in long lines at gas stations. Using new fuel pumps, you’ll not only be able to get more customers to your pumps but earn a lot of repeat business, which will increase your annual revenues.
Customers who frequently visit your gas station are more likely to make purchases from your c-store and avail other services available at your facility. The higher levels of revenue will cover fixed costs, which will further improve your profitability.
EMV integration—the most significant upgrade for your gas station
The October EMV deadline is only a few months away. If you haven’t already upgraded your existing POS terminal, you should move EMV integration at the top of your list. This technology provides better security and decreases the risk of fuel theft and payment fraud.
EMV compliance will protect yourself against liability for fraudulent transactions at your facility. Furthermore, the customers who pay via credit cards will choose your gas station to buy gas and c-store items.
If you want to upgrade your gas station, get in touch with John W. Kennedy Company today! Located in East Providence, R.I., we’re an authorized seller of genuine Gilbarco products, offering high gas stations and fuel equipment supplies, including POS terminal systems at competitive rates.
Call at 1 800 238 1225 to learn more about our products.