How to Go About Starting A Gas Station Business

Gas station business is considered as one of the most profitable of all businesses as transport is the lifeline for everyone in todays world. Even though the cost is increasing at an alarming rate, it has not harmed the profitability of the business.

If you are planning to start a gas station business, be clear of the following points in your mind:

Making The Right Choice

Make a decision of either buying a gas station or build one from scratch. Keep several things in mind when looking up for a gas station like it should be located in a high traffic area and should be available for sale at an affordable price to you. If the property is vacant, ask for reasons of it being vacant. Take all the possible details of that property and conduct a research about title clearance and stuff. Check all the previous financial records for the property.

A Detailed Business Plan

While writing a detailed business plan for starting a gas station include all the financial projections, goals, number of employees you wish to employ and elaborate on the marketing plans. The business plan should look highly professional. If you wish you may appoint a professional business plan writer.

Required Funds

Start gathering funds to buy a gas station. Approach financial institution with your business plan and get in touch with the loan officers there. Talk to people who would be interested in investing in your business. If not be ready to convince them for a small business loan for setting up a gas station.

Franchise As An Option

While buying a gas station from other company ask about franchise option. If a franchise option works out then you should negotiate contracts and the franchise fee as you would be selling another company’s gas.

Necessary License and Permit

It is most important to obtain the necessary licenses and permits for a smooth running of the business. Inquire about fees and permits that you would need. You will have to obtain permits for all the items you wish to sell at the station. Get yourself registered with the local fire department.

Once everything falls in place and you get the needed finance or your franchisee options work out as expected and all necessary permissions are granted then take some time out to prepare for a grand opening. Let the people in the area know about the new gas station in the vicinity. This activity will incur costs, but do not ignore the grand opening. Decorate by using banners, balloons. Give advertisement in the local newspaper or give away paper handouts.