Shell has 191 locations in Indiana. Read the detailed locations report of Shell in the United States. You can even instantly buy the entire dataset by clicking below.Conoco has 28 locations in Indiana. Read the detailed locations report of Conoco in the United States. You can even instantly buy the entire dataset by clicking below.
Exxon Mobil has 95 locations in Indiana. Read the detailed locations report of Exxon Mobil in the United States. You can even instantly buy the entire dataset by clicking below.
Phillips 66 has 139 locations in Indiana. Read the detailed locations report of Phillips 66 in the United States. You can even instantly buy the entire dataset by clicking below.
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Speedway has 293 locations in Indiana. Read the detailed locations report of Speedway in the United States. You can even instantly buy the entire dataset by clicking below.
The fuel prices published in this guide are based on the results of research completed by Way.com’s data team. Using a mix of external and internal data, we analyzed millions of prices across U.S. ZIP codes and globally.
You can certainly own a gas station in the U.S., not being a U.S. citizen or resident. Keep in mind, however, that without proper work authorization it would be illegal for you to be employed directly by this business. So I presume you would need to find a manager (or a management company) to handle the day to day operations of the business.
How profitable is a gas station?
Retailers Make Very Little Selling Gas Generally, the markup (or “margin”) on a gallon of gas is about 15 cents per gallon (gross profit before expenses). Factoring in expenses, which include rent, utilities, freight, labor and credit card fees, a retailer is left with about 2 cents per gallon in profit.
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What state is gas the most expensive?
Washington state now has the highest average gas prices in the U.S.
The username or password you entered is incorrect. Please try again. Remember passwords are case sensitive. If you forgot your password, click to reset it.$650,000 Plus Inventory for Illinois Rockford Marengo Unbranded Gas Station C-Store, & Car Wash Business Only. $140,000 average merchandise sales with higher margins. 100,000 avg gallons gas sales… More details »
Six (6) Bay Auto Repair/Gas Station/Convenience Store in North Metro Area for sale. This is a turn-key operation with the facility in great shape. Priced attractively at only $1,450,000, plus… More details »
This gas station is over 3000 sq. ft. and there is a new roof and new AC units. Inside sales are over $100,000 plus lottery. The gas gallons per month are over 50,000. GAMING is available if you would… More details »
$600,000 Plus Inventory for Indiana Indianapolis Branded Gas Station and Fast Food Business Only. $120,000 average inside merchandise sales per month with higher margins of profit which includes new… More details »
We’re not just the largest international business advertising platform. We’re experts that understand the challenges of selling any business. For over 20 years, we have successfully supported thousands of business owners, entrepreneurs, brokers, and franchisors.$2,750,000 Plus Inventory for Ohio Cleveland Warren Unbranded Convenience Store Gas Station Drive Thru Package Business & Property for Sale. $250,000 average inside merchandise sales with higher… More details »
How much is gas in Indiana?
Indiana Average Gas PriceRegularMid-GradeCurrent Avg.$3.96$4.34Yesterday’s Avg.$3.97$4.34Week Ago Avg.$3.99$4.35Month Ago Avg.$3.94$4.32
3 Bay Auto Repair Shop and Gas Station For Sale on the corner of East Hennepin Avenue and 21st Avenue SE. Business and property are priced at $1,200,000. Price includes 2,070 sq ft building and 8,882… More details »
Zero Goodwill! Only pay a $30,000 acquisition fee and the inventory! Jobber deposit is $35,000. Seller has medical issues and needs to go into surgery right away. Inside Sales are currently $25,000… More details »
$650,000 Plus Inventory for Ohio Cleveland Garfield Heights Unbranded Gas Station and C Store Business Only. Property can be purchased for additional $1,350,000. $185,000 average inside… More details »
$550,000 Plus Inventory for Illinois Belvidere Area Branded Gas Station and C Store Business Only. $110,000-$115,000 average inside merchandise sales per month with higher margins of profit. 60,000… More details »
This is a highly successful business and a nation-wide recognized brand. What started as a hobby in a garage has grown to be a multi-service business with average sales revenue of approximately ($760… More details »$375,000 Plus Inventory for Illinois Belvidere South Area Branded Gas Station and C Store Business Only. $90,000 – $95,000 average inside merchandise sales per month. 50,000 – 65,000 average gallon… More details »
Through dedication, constant improvement, and listening to our industry and clients, we’ve improved our products and services and have grown into a market leader that connects buyers and sellers from across the world. We take our client’s objectives seriously and are dedicated to helping you achieve them.$225,000 plus inventory for Cleveland Ashtabula Unbranded Gas Station and C Store Business Only. $55,000 average merchandise sales per month with much higher margins due to sales mix. 25,000 average… More details »
What is the highest gas price ever?
Adjusted for inflation, the average price of gas in 1981 would have equalled $2.421 a gallon in 2020. To which drivers in 2022 could only say: Give us that deal! According to CNN Business, the price of gas at the pumps across the nation met an all-time-high average of $5.02 per gallon on June 14,2022.
LISTING ID # 33338. Strong branded gas station with convenience store and car wash is available. Inside gross revenue is 1.2 at approximately a 30% profit margin Lotto commission is 30K and ATM is $6K… More details »
Multi Location North Metro Area Gas Station & C-store. Over $5m In Revenue & Cash Flow Of $311k Ytd Nov 2022. Prime Real Estate Also Available For Sale. This well-established, 2 location C-Store sold… More details »
$100,000 for Ohio, Wapakoneta VACANT Unbranded Gas Station Business Only. Station used to do $90,000 – $100,000 inside sales per month and 60,000 average gallons gas sales per month. Due to lack of… More details »$199,000 Plus Inventory for Ohio, Dayton Franklin Branded Gas Station C-Store Business Only. $80,000 – $85,000 average merchandise sales per month with higher margins. 80,000 to 90,000 average… More details »
Is gas station profitable in USA?
Did you know: A successful gas station owner can make anywhere from $40,000 to $100,000 or more annually? Owners of gas stations that do more than sell gasoline earn more money because the profit margins of the other things they sell are high.
Multiple businesses in one location. Convenience store with gas, diesel, kerosene, and LP gas. Deli with inside seating plus beer, liquor, and soda. Mini Warehouses included with 100% occupancy and a… More details »
Can a foreigner buy a gas station in USA?
You can certainly own a gas station in the U.S., not being a U.S. citizen or resident. Keep in mind, however, that without proper work authorization it would be illegal for you to be employed directly by this business.
$700,000 Plus Inventory for Ohio, Columbus Circleville Branded Gas Station and C Store Business Only. $80,000-$90,000 average merchandise sales per month. Beer License added recently. Projected to… More details »$500,000 Plus Inventory for Ohio Cleveland Sandusky Branded Gas Station Fast Food and Tobacco. Seller willing to finance with 50% down payment. Large 15,000 SF building consists of 7500 C Store and… More details »
Where is the best place to put a gas station?
You need an area on the road, highway, or intersection, and not somewhere where consumers may have difficulty finding the gas station. Consumers will avoid turning into your gas station, making it difficult to enter and exit, and as a result, making it hard to get any consumers.
$725,000 Plus Inventory for Ohio Cincinnati Northeast Branded Gas Station and C Store Business & Property. (Higher property values area). $30,000-$35,000 average inside merchandise sales per month… More details »LISTING ID # 33334. This is a great opportunity for any entrepreneur, a branded gas station that sits in a very nice suburb on a very busy main street. They have multiple income streams which includes… More details »$95,000 Plus Inventory for Ohio, Dayton, Tipp City Area Gas Station Business Only. $50,000 per month average merchandise sales and 85,000 average gallon gas sales per month. Car wash sales are about… More details »
Average Inside Sales of $66,000 per month! Outside Sales are 30,000 gallons at more than 23 cents average profit per gallon! Seller does not have EBT! Buyer can add EBT! Hunt Brother’s Pizza… More details »
Well-established gas station and convenience store. First gas station located from I-94 Osakis Overpass. New pumps and improvements made in 2020. Motivated Seller wants to retire! Two 10,000 gallon… More details » $250,000 Plus Inventory for Illinois Belvidere State Area Branded Gas Station and C Store Business Only. $75,000 – $80,000 average inside merchandise sales per month including profitable fast food… More details » Showing Indiana businesses currently available in Indiana. Browse real opportunities to buy from established and trusted sellers in the search listing results page below. Please use the filters on the left to narrow your search by category, price and other criteria. Your Search Alert has been saved to My Account. To ensure that you receive email alerts to your inbox, add [email protected] to your address book. 17 acre Commercial Subdivision ideal for truck stop which includes a $500K state of the art Waste Water Treatment Plant which provides sewage utility service to the two existing businesses and all future development, 2 deep water wells, Rensselaer City Gas and electric service from REMC.Ideal location for truck stop or gas station or Hotel Development . Call AJ 916-995-0783 for more information . … LessBizQuest has more Indiana Gas Station for sale listings than any other source. Whether you are looking to buy a Indiana Gas Station for sale or sell your Indiana Gas Station, BizQuest is the Internet’s leading Indiana Gas Station for sale marketplace. Refine your search by location, industry or asking price using the filters below.
Gas station doing 100,000 inside per month & 45,000 gallons per month. High Margins . 125,000 yearly Lottery commission & 40,000 ATM commission. Food sales 30000 a month. Rent 8500 per month .Call AJ 916-995-0783 for more information … Less
$600,000 Plus Inventory for Indiana Indianapolis Branded Gas Station and Fast Food Business Only. $120,000 average inside merchandise sales per month with higher margins of profit which includes new and profitable KK chicken operation. 35,000 to 40,000 average gallon gas sales per month with higher margins. Beautiful 1800 SF Station. Additional strong income from Lottery, ATM, Cigarettes, and other rebates and commissions. Great opportunity for the right owner operator or a family. Motivated seller willing to make a deal with the right owner-operator. Please “do not disturb the employees” and call Urbanvest Realty Corp presented by The Saleh Group for more information and showings or visit us online. … Less
Branded gas station with fiberglass tank and new pumps . ABSENTEE OWNER & great hours . Inside sale 110,000 per month and 25000 gallons . High Margins . Close to lafayette . New owner can add food , deli , check cashing .Call AJ 916-995-0783 for more information . … Less
GREAT LOCATION GAS STATION WITH PROPERTY FOR SALE IN MERRILLVILLE INDIANA , APPROXIMATELY 40,000. SF OF LAND ,Can Add Car Dealer , PRIME LOCATION FOR DEVELOPMENT AT ROUTE 30 & I-65 INTERCHANGE , MANY NATIONAL BUSINESS NAMES SURROUNDING .SIGNALIZED CORNER WITH HIGH TRAFFIC , VISIBILITY AND EXPOSURE. IMMEDIATE RE-BRANDING OPPORTUNITY . MANY DEVELOPMENTS IN THE AREA .No Existing Contract with a supplier . … Less
How to buy gasoline station?
How to open a gas stationWrite your business plan. … Register your business. … Secure funding. … Buy the property. … Secure a gas supplier contract. … Obtain necessary permits and licenses. … Get business insurance. … Market yourself.
What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.Because of this, the typical costs of a Shell franchise are high. The initial investment is typically between $2.5 million and $6.6 million. The annual franchise fee is $30,000, and you must maintain $700,000 in liquid capital.Circle K franchisees must make an initial investment of between $200,000 and $1.6 million. The ongoing annual franchise fee is approximately $25,000. Circle K offers third-party financing options to cover equipment costs.Get support from a lawyer, accountant, and financial advisor to help you review franchise agreements. They’ll help you understand what you’re getting into and avoid pitfalls. You may also want to engage with a franchise consultant. They could help steer you to the correct franchise option for you.
Some franchises will require you to pay many startup costs from your savings. You won’t be able to get a business loan to cover these costs. However, others will let you use a franchise loan or other financing to pay certain costs. Some franchisors will make you use lenders in their networks. Others will allow you to get the funding you need from a bank or other traditional lender or an online small business lender, or other alternative financing company.ExtraMile’s convenience store and gas station combination locations offer Chevron gasoline coupled with retail food outlets. The ExtraMile franchise was established in 2007 and has more than 200 locations. Investing in a petrol station franchise can cost prospective business owners a significant amount. The total initial cost typically runs between $250,000 to $2 million for a small gas station, although there are some less costly local chain options. However, you’ll likely earn less from them. There will also be ongoing costs like franchise fees, insurance, licenses, inventory, royalties, and many more, which could add another $300,000 per year. You’ll have to invest between $400,000 and $11 million in an AMPM franchise location. The cost is dependent on the site, its size, and how busy it is. You’ll also be required to maintain between $800,000 and $1.2 million in liquid cash assets. AMPM offers franchisees in-class sessions and hands-on training to run their gas stations and convenience stores effectively.It has never been a better time to invest in a gas station franchise. Increasing gas prices and demand coupled with the opportunity to open a convenience store, fast food operation, car wash, or repair shop provides several sources of income that can be a more stable investment than a retail store, fast food restaurant, or other types of franchises. Low labor costs, easy training for new workers, and franchisor support are just a few advantages of owning a gas station franchise.
It’s likely your local and state governments will make you get permits and licenses to run your business. The types will depend on laws and regulations and the type of franchise you open. Some common examples include: Shell is a premium provider of gas across the United States and one of the top gas station franchise businesses. Its brand is well-known, and many drivers seek out Shell gas stations. With billions of dollars’ worth in annual sales, gas stations are big business in the United States. Gas station franchises offer the chance for people to jump on the gasoline retail bandwagon and run a busy and profitable business.Opening or buying an existing gas station and operating it independently can be daunting. You have to source all your equipment, systems, and supplies. Gas station franchises allow you to jump on the service station business bandwagon and more easily run a profitable operation.
What is the most common gas station in Indiana?
Speedway has the most number of locations with 293 locations across 101 cities. Shell has 191 and Phillips 66 has 139 locations in Indiana.
ExtraMile franchisees receive training from Chevron, advertising support, ongoing business advice, and mechanizing. The total investment to buy and manage an ExtraMile franchise is between $1.5 million and $2.5 million.An initial investment of between $45,000 and $1.5 million is required to purchase a Street Corner franchise. Franchisees are required to maintain a liquid net worth of $100,000. Financing is available from third-party sources. It can cover the franchise fee, equipment, start-up costs, accounts receivable, inventory, and payroll.Gas stations have been in the news lately. Increasing gas prices and high gasoline demand make it seem attractive to own gas stations. Add to this the ancillary products and services gas stations sell to drivers, including food and drinks, lottery tickets, tires, mechanic services, detailing, and more. Owning a gas station can seem like a great business opportunity to many entrepreneurs.Gas stations and their corresponding convenience store or food outlets rank as one of the most popular and profitable franchise types in the United States. But is it right for you, and how can you stand out from the competition and earn a profit?
A total investment fee of $50,000 is required to get an On the Run franchise. You must have liquid assets available of at least $100,000. This is one of the lowest franchise costs we encountered in our research.Getting a Sunoco APlus franchise is challenging. Candidates are evaluated based on their business experience, skills, financial strength, and personal ambition. The total cost for a Sunoco APlus franchise is relatively affordable, running between $25,000 and $600,000. There are more than 8,600 7-Eleven convenience stores located across the United States. Many of them sell gas. The company’s goal is to make franchising easy. 7-Eleven offers a turnkey solution that includes everything franchisees need to do business effectively. 7-Eleven franchise stores and gas stations are delivered in fully operational condition. Street Corner is a chain of boutique convenience stores typically located in busy urban areas. Many locations also sell gas. Street Corner was founded in 1988 and has been franchising since 1995.
This article will reveal the costs associated with different gas station franchises, explain whether it’s a good business opportunity, and go over everything you need to know to purchase the right gas station franchise for you.
Once you’re approved for a gas station franchise, it’s likely the franchise company will require you to attend mandated training. It will likely provide valuable information to help you operate your gas station more efficiently and effectively, including how to get gas delivered, secure inventory, and purchase supplies. It will also help you understand how to stay in brand compliance.Once you know the type of franchise you want to invest in, do your due diligence to find some options that align with your business plans and investment preferences.Selecting the right location for your gas station franchise will help you maximize traffic and income possibilities. However, popular sites will cost you more to secure and keep the franchise over time.
Did you know: A successful gas station owner can make anywhere from $40,000 to $100,000 or more annually? Owners of gas stations that do more than sell gasoline earn more money because the profit margins of the other things they sell are high.
It takes an investment of between $165,000 and $200,000 to get an Express Convenience franchise. Owners are provided with training on how to run their businesses. Financing is available for Express Convenience franchises.Before starting any business, you need a business plan that includes complete information about the company you want to operate, including how you’ll run, finance, market, and staff it. It should completely explain your business model and include detailed cash flow projections. A business plan allows you to figure out how to proceed and is a necessary tool if you seek funding or financing for a new business.
Purchasing a gas station franchise isn’t cheap, but it can pay off if you invest smartly in the right one. A gas station in the United States can make between $4,500 and $14,500 daily, depending on size, location, and product and service offerings.While you’re at it, contact a business insurance expert to get adequate coverage to protect your new business. Gas stations are risky, and you want to make sure yours is adequately protected. Some typical gas station insurance coverages include:
Most franchise applications require a great deal of disclosure. Make sure you complete applications thoroughly and accurately. If you don’t understand anything, contact the franchisor or work with a franchise consultant to help you complete your applications.
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
Sunoco APlus combined gas stations and convenience stores are located on the east coast of the United States and in parts of upstate New York and Ohio.
Ensure you interview job applicants, check their references, and do background checks. You’re entrusting your new business to them, so you only want to have the best people on your team. Once you’re staffed up and set up, you’re ready to open your new franchise. Consider starting slow with a soft opening, then amp up the advertising and promotion when you’re confident everything is running smoothly.On the Run gas stations and stores offer typical convenience store products in addition to fresh snacks, quick meal options, health and beauty supplies, and more.
This isn’t meant to be a comprehensive list of gas station franchise costs. Instead, it shows a range of options from well-known national chains, which usually require a higher cost of entry, and smaller regional players, which are typically less expensive.
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Here are some of the biggest factors that affect the cost of running a gas station franchise. You must know them as you review franchise agreements and evaluate your options.
Modern convenience store with Shell gas station . Includes 3 bedroom house on adjacent lot. Lease is $1,500 per month including home. 8 pumps with overhead canopy extending out from both sides of building. Cigarettes and Lottery. beer wine permit available. Gas can ether be consignment or owned by operator.
How much does it cost to buy a gas station in us?
between $250,000 to $2,000,000 Starting a gas station is not cheap; you can expect to spend anywhere between $250,000 to $2,000,000 to get your business off the ground. The exact costs vary depending on the state you’re in, your chosen location, and whether you buy a franchise or open an independent location.
Depending on the term of your franchise agreement, you may be required to use specific equipment, branded pumps, etc. In these cases, you will want to exclude existing equipment that does not conform to these requirements from the purchase. Make sure to use a qualified lawyer to finalize the sale.
Forming an LLC or a corporation is relatively simple and, in most states, can be done online. If you don’t want to deal with the paperwork at all, plenty of companies will do all the work for you. Their services will usually include filing as an LLC or corporation and registering with the IRS. (Don’t skip this step!)
If you are operating your gas station as a franchise, check your franchise agreement to see if you are bound to a specific supplier for your gas (chances are you are). If not, it’s time to research different gas suppliers and do a thorough rate comparison.Once you’ve taken care of the funding that you’ll need to start a gas station business, you’ll be able to officially buy or lease the property where you’ll have your station. Before signing the purchase (or lease) agreement, there are a few important pitfalls to look out for:
If you want to open a gas station, you have to get a so-called Phase 1 Environmental Assessment of the location done. This document, which has to be prepared by an environmental professional, determines the environmental history of the location and the properties surrounding it.
We’ve mentioned previously that gas stations operate on very thin profit margins when looking at gas sales only. In fact, most gas stations make the majority of their profits with all the other services and goods they offer. Consider lowering your gas prices by just a few cents to attract customers that will purchase additional items from your convenience store.Google Maps, Apple Maps, and Waze are fantastic tools to help drivers discover your business on their commute. Make sure to list your gas station on these services so you’ll pop up when they search for a gas station near them.
Forming a legal business entity is the next step in starting a business. Make sure you consult with your attorney to discuss which type of legal entity is best for you.
Registering a corporation offers you the same legal protection as an LLC but comes with additional costs and double taxation (corporate tax + income tax). It’s generally recommended for owners that plan to open a chain and grow their business to compete with the big brands out there.If you’ve always dreamt of owning your own business but have no idea how to open a gas station, this guide will walk you through all the necessary steps. Follow it closely to ensure that your new business will be well planned out, legally compliant, and above all, successful.Modern gas stations are much more than just a row of fuel pumps, and you’d be hard-pressed to find a successful gas station that doesn’t offer additional services. Your business plan should include the number of gas pumps you intend on operating (based on your market research) as well as additional products and services to maximize your profit margins. The most common products and services at gas stations include:Now that all the hard parts of starting your gas station are out of the way, it’s time to start marketing your new business. If you picked the right location for your gas station, you’ll likely receive some customers that simply saw your business and decided to stop. But to make your gas station a success, you’ll need to invest in a proper marketing strategy. An LLC is especially attractive for small business owners that own only one gas station, as you will pay lower fees than a corporation and get to choose if you want to be taxed as a sole proprietor or a corporation. Still, it can make it more difficult to secure a loan for your business. Since your gas station will likely sell not just gas but also a range of goods, such as snacks, drinks, and accessories, you must keep your inventory organized. Learning how to keep a running inventory every day will let you identify when you need to restock before you run out of products. Make sure to nurture good contacts with your vendors and understand estimated delivery dates to better coordinate when you need to resupply.Knowing how to start a gas station successfully is only part of the process of starting a gas station business. Here’s your in-depth 10-step guide to get your gas station running smoothly!
In addition, open a business account on Yelp and any local business directories. You can even create a comprehensive social media strategy for all major platforms like Facebook, Twitter, Instagram, and TikTok.This is also a good time to ensure that your new business is properly insured. General liability insurance is a given, but gas stations require a little more than basic business insurance.
To keep people coming back, consider offering a loyalty program when you’re starting your gas station and slowly build up a loyal customer base. Smart marketers know that many times it’s cheaper to retain existing customers than to find new ones. Crunch the numbers for your business to figure out how much you can spend to keep your customers coming back.
Gas stations see tight margins, but they can turn a decent profit if carefully planned and well run. Even with the growth of electric and hybrid vehicles, conventional gas stations will be around for at least a few more decades.The Small Business Administration has loan programs designed to help small businesses, such as gas stations, get started. While the SBA doesn’t lend money directly to you, they work with other lenders to reduce their risk on a loan by backing it by as much as 85%.
If this isn’t your first rodeo and you can show a stellar track record with previous businesses, a conventional bank loan can be an option. But even then, most banks will decline your request for a loan due to traditionally slim profit margins and the perceived risk of a gas station business. This doesn’t mean you shouldn’t try, but you should come well-prepared with a water-tight business plan and anything documenting your previous business experience.
In addition to the cost of opening a gas station, your business plan should also work out an educated estimate of the running cost of your business. This should include all expenses from licensing and insurance to inventory and payroll.Good, old-fashioned highway signs can help a new gas station business get off the ground, especially if you’re located near major exits or commuter hubs. Many drivers don’t have loyalties to specific brands and just want to find the closest gas station. If you’re running special offers or discounts, make sure to let drivers know to give them an extra incentive to visit your gas station. If the site has this equipment, make sure that the sale also includes ownership of the pumps, tanks, and other necessary equipment. Many gas station owners don’t own the equipment itself but lease it from the property owner or a franchise. The location of your gas station can make or break your business and should be an absolute priority during the planning stage. If you’ve done your market analysis correctly, you should already have a good idea about whether the location you picked can propel your business forward. Are you planning to open your gas station along a populated highway and focus on truck drivers and commuters or have you chosen a location across from an established competitor that isn’t maximizing its potential?Opening a business can be a complex process full of unforeseen surprises, and opening a gas station is no different. With an estimated market size of $138 billion in 2022, there is plenty of opportunity waitial wng if you play your cards right.
When choosing a location for your gas station, a good tactic is to look into budding neighborhoods or industrial parks. These locations are often just outside the city and require a gas station. That can translate into more commuters and cheaper real estate, but the location might lack the existing infrastructure needed to operate your gas station.As a small business owner, you must get an employer identification number to open your gas station. An EIN is a nine-digit number used when filing your business taxes with the IRS. You can easily apply for an EIN online with the IRS and should receive your number in just a few minutes.
David is Connecteam’s Senior Editor. With over a decade of experience as a journalist and content professional, David oversees the production of industry-leading content to help professionals take their businesses to the next level. He is passionate about creating engaging, informative, and thought-provoking content that resonates with readers.One of the major risks to gas stations, especially those operating around the clock, is crime. If you’ve been following this guide, you’ll already be insured against theft, but it’s important that you and your employees are safe. Invest in installing security cameras and shatter-proof windows as an additional security measure and establish protocols so your staff knows what to do in an emergency.
With your business plan fleshed out and your business registered as a legal entity, it’s time to get funding for your gas station. As we’ve already established, opening a gas station can cost anywhere between $250,000 to $2,000,000, so outside funding will be inevitable for most people.
Starting a gas station is not cheap; you can expect to spend anywhere between $250,000 to $2,000,000 to get your business off the ground. The exact costs vary depending on the state you’re in, your chosen location, and whether you buy a franchise or open an independent location. Your business plan should include detailed estimates of the cost involved.
It’s no secret that the gas station industry is in decline. As of early 2020, there were roughly 115,000 gas stations in the US, and that number is falling quickly. That doesn’t mean that people are driving less, but they are switching from petrol-based cars to electric cars.
Get ahead of the competition and already install a number of charging stations for electric vehicles. Not only will this prepare your gas station for the (not-so-distant) future, but it will put your business on the map for the electric vehicle community and ensure a steady flow of customers.
When choosing a franchise, make sure you intimately understand the franchise agreement and agree with its terms. Each franchise has different requirements for you to become a franchisee, and many won’t even consider you if you don’t have a background in management or entrepreneurship.While a sole proprietorship is the quickest entity to set up and enjoys certain tax benefits, running a gas station this way is not recommended. Gas stations are a risky business, and should there ever be an accident or even a robbery, you alone will be liable for damages. Keep in mind that each of these services carries its own costs, in addition to permits and maintenance requirements. If you decide to operate your gas station through a franchise agreement, you will likely also be limited in the services and products you can offer. Most gas station owners choose to get into business by buying a gas station franchise. This can reduce some of the financial burdens of opening a gas station and has the added benefit of immediately giving your gas station a recognizable brand.Before signing any franchise agreement, make sure you have reviewed the contract with a specialized lawyer. They can also help you negotiate the terms of your agreement and secure lower royalties and other benefits.