Anyone own a gas station?

[joe]

I'm looking into getting a gas station but would like some feedback as to the pros and cons of the business. Also, what to look out for before buying one. Any info would be appreciated.

 

[Dan Murphy]

 

[KatelynnsAuntie]

My aunt and uncle used to own one in Texas. It was a combination gas station/ minimart type of thing with a fast food chicken restaurant inside.

Maybe other people's experiences will be better, but they ended up losing a lot of money on that place. It just didn't do the kind of business they were expecting. And then when they wanted to sell it, they had a hard time finding someone who wanted to buy it. By the time they did sell it, they didn't even care anymore how much they got for it. They just wanted out.

I know they had a problem with the workers they hired too. They were dishonest and stole from them. Not all of them, but there were a couple.

There was always some kind of problem, with a machine not working, or an employee problem, or a delivery problem, etc.
So they were always, always there. Never at home. Never got a break.

Like I said, maybe others will have a more positive experience, but it was a complete nightmare for my aunt and uncle.

 

[Pam]

I don't own one but was curious if you were thinking of buying an independent one in a small town or being part of a large chain one?

I can tell you that it is getting harder and harder for the small, independent business owner to compete in today's dog-eat-dog world. There are just not too many Mom & Pop establishments left - the corporate world is gobbling up most of their competition.

Leasing on with a large petroleum company might be the way to go.

 

[joe]

I was thinking along the lines of buying an existing gas station with a brand name like Shell. The independent stations really are taking a hit because the big companies set the prices. I understand that Wal-Mart is starting to have gas stations now.

I have family support so I wouldn't need a lot of employees. I'm ready to put in 70 hours a week if needed. I owned a business for 8 years and got burned out(fitness business) but I do like owning a business as opposed to working for someone.

 

[disneyelaine]

My bil bought a BP/mini mart last year. Getting the financing & closing & legal stuff took over 6 mths. But it is a great business so far for him. They owe a ton of money, but their store is in a good location, it is clean. He has been robbed once, kid threw a brick threw the window for cigs. He does not stay open 24 hrs. But so far they are making a great living with it. Before he bought this BP station, he was a district supervisor for about 20 Big Name convience stores, a chain. Worked for them about 10 yrs. So he had experience in making them profitable.

Good Luck.

 

[Thumpersmom]

I do not own a station but have worked for 12 years as an office manager at a small business. We are not a regular station but a cardlock and do not have c-stores. We are independents and belong to a network of other independents. The network has changed a lot over these years and is now becoming very costly so we are trying to decide if we will stay or not.

Insurance and government fees can be very costly!!!!! Quite a few of our larger trucking firms used to have tanks on their properties and they have pulled them out to use our services. We do operate 24 hours a day and I am on call but it is usually pretty quiet.

If you buy a chain brand be ready to pay quite a few fees and they will set your prices for you. Hard to make a ton of money!! Interesting business, for sure. I took the job as my first out of college and am still there so that shows something. I have learned quite a bit. Be sure to talk to other operators in your area to see the pros and cons.

Good Luck!