Are you having trouble deciding whether to upgrade your pump or not?
It’s a complicated decision; after all, pumps don’t experience an increase in value due to cosmetic touch-ups like homes or vehicles do.
That being said, it’s important that you don’t leave your station outdated. If done correctly, upgrading your pump can make a huge difference to your bottom line!
Using smart upgrades, you can extend the life of your station and reap many other benefits.
Efficient operations provide a competitive edge
Stations with upgraded equipment are more profitable, and make solid returns on investment.
Modern pumps and dispensers that are manufactured by reputed brands such as Gilbarco are highly efficient, allowing stations to speed up their operations.
As a result, stations are able to cater to more customers and generate additional sales.
Similarly, advanced POS systems and other fuel equipment increase operating efficiency and reduce wait times.
This helps attract more customers to the station, and allows you to retain them.
Conversely, stations that use outdated fuel pumps and equipment miss out on these additional sales, and fail to remain relevant.
New equipment leads to a reduction in operational costs
Like any other piece of machinery, pump equipment is prone to breakdowns, which—of course—costs money—and a lot of it, especially when it comes to old equipment.
New pumps and fuel equipment come with warranties, which cover all the expenses related to repair and maintenance.
Moreover, the latest machines and equipment offer better security that decreases the risk of fuel theft, payment fraud, etc.
These benefits—when combined—can potentially save stations thousands of dollars every year.
EMV Integration—the most important upgrade for 2020!
Upgrading to EMV will not remain an option by the last quarter of the year. The final deadline before the liability shifts to pumps is October 1, 2020.
After the deadline, VISA will start fining and removing non-compliant stations.
Moreover, fraud is on the rise, and customers are more likely to take their business to EMV-capable fueling stations.
Surprisingly, only about one in three gas stations in the US have EMV card readers installed.
Now is the perfect time to integrate EMV in your pump to get ahead—most importantly, remain—in the competition.
Learn more about the EMV deadline here.
Start off 2020 by making these essential upgrades to your fuel pump to access the benefits and prevent losing out on fuel and in-store sales.
If you partner with the right supplier, you can boost the value of your pump by improving your earnings and cutting down the losses.
At John W. Kennedy Company, we offer gas station equipment and essentials supplies to our clients. Since 1930, we’ve been a trusted name in the market, serving gas stations and convenience stores all across the US. Visit our online store to learn more about our products and services.