Gas Station Franchise Startup Guide

Challenging – is an understatement when we talk about managing a profitable gas station franchise on the 1st 2 years of operation. There have been a lot eager businessmen and women who got the resources necessary to get a franchise yet ended up closing the business after less than a few months for failure to properly manage the important aspects of the business.

Here are the key points that must be properly addressed before deciding to get into the gas station business wherever in the world you’re planning to put it up on.

Location. Location. Location. Getting a very good location, ideally in a vicinity where there exists no other filling station within it’s 10-15 mile distance, would lower risks of losing potential customers to your competition. Always make sure it’s spacious so you can cater to large buses and more cars and trucks at the same time. Hire a good real estate professional who can get you a spot very near to a bus station so combined with your other marketing efforts your gas station franchise would be financially rewarding enough for you to be able to get another one.

Selling Other Products. It’s almost necessary for any gas station that has a strong competitor. If you don’t have one, don’t think you’ll be earning enough money because today’smounting cost of the gasoline drives a whole lot of people to carpool or commute. Which is why the majority gasoline stations also have convenience stores. The money is pretty much in additional products and services since the margin is larger. Having a carwash could even command a higher mark up price. But if you choose to earn big time, add a fastfood franchise or get someone to use the remaining space for a fast food franchise. The earnings can be so great that your gasoline earnings will just be an extra.

Network Even if no other gas station is within the 10 mile radius, it doesn’t mean you don’t have to network with other gas station franchise owners. If you’re a beginner, there are so many things you have to learn from the pros in the business. If they could hold on to the industry for more than 10 years, they should have done something that you should follow.

Safety. Because of the 24-hour nature of gasoline stations they are likely to be prone to robberies and petty theft. These chances would increase two-fold if you have a convenience store along with your gasoline station business. To help you keep your staff safe, let them undergo basic self-defense or martial arts training and setup surveillance cameras so the authorities can quickly determine who is responsible in case the inescapable takes place.

Legal Documents and Stuff. Seek the assistance of your lawyer to ensure that that you have the necessary forms for your new franchise business. They should simply assist you establish your entire business so you don’t need to experience the pain of doing the paper works all by yourself. You could also hire a Certified Public Accountant to focus on accounting and taxes, and the likes.

Article Source: sooperarticles.com/business-articles/franchising-articles/gas-station-franchise-startup-guide-386812.html

About Author:

Mareeb is an owner of a gas station franchiseAuthor: Timothy Jonas