All You Need to Know About Buying a Gas Station

There are hundreds of different industries you can start a business in. But if you’re interested in making big bucks with rapid progress, there’s no better industry than fuel retail. Gasoline and petrol stations are always in demand.

The fuel retail industry has doubled its sales in the US in the last few years. Sources state that the annual sales have amounted to over 620 million USD. These numbers show that the industry is heavily regulated, controlled, and managed.

There are innumerable benefits of purchasing a gas station. You have to, however, consider several factors before sealing the deal.

Let’s look at all the factors you should ensure and avoid when buying a gas station.

Common Pitfalls to Steer Clear Of

Gas station buyers often get caught up in purchase pitfalls. They get too focused on the tangible aspects of a gas station and ignore long-term implications.

Here are all the common pitfalls you should avoid when buying a gas station:

  • Go with your instincts but don’t ignore the numbers
  • Don’t rush the deal. Always conduct in-depth research to ensure the facility’s integrity.
  • Consider long-term revenue projections instead of trying to cover short-term, quick objectives.
A well-maintained gas station at night time

Once you’ve completed the due diligence research on the facility you’re interested in buying, here are the qualities you must look for:

1.    Tech Savviness

Today’s gas stations are all about digital payments. Even the US government has taken a step in this matter by instructing station owners to become EMV compliant. Look for a gas station that has connectivity capabilities with latest digital payment modules.

You must ensure that the station is all set up for tech-based additions. Install new fueling and refueling equipment, POS systems, kiosks, and tank gauges.

2.    Location

Location is one of the most critical factors that significantly impact a gas station’s annual revenue. Sometimes, investing in a gas station located in a remote area also pays big. This decision, however, shouldn’t be made on assumptions.

Gas stations heavily depend on the traffic volume passing by the road. Invest in a gas station close to a shopping facility or a public entertainment spot. Install visible signage with proper replacement price signs, and efficient gas pumps. Coupling robust hardware tools with quality gas and optimum location are the recipe for gas station success.

Invest in Quality Gas Station Equipment and Supplies

At John W. Kennedy Company, we stock over 1,000 gas station service equipment and supplies. Our expansive line of gas station equipment ranges from kiosks and canopies to filters, hoses, nozzles, swivels, and breakaways.

We also offer advanced safety and storage equipment to tanks, fuel management systems, rebuilt exchange products, and POS systems. Contact us today to mark a striking entry into the gas station industry.

Our products are guaranteed original and offered with a robust upgrade and warranted support. Shop today.

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