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Instead, they use low fuel prices to attract drivers - and then sell other products that have higher markups. The price of gasoline fluctuates on a daily basis, but most gasoline station businesses don’t try to make a lot on the fuel they sell. windshield washer fluid and tire pressure gauges) This is just one of many products that gas stations sell though. Stations are named for their primary product: gasoline.
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How does a gas station make money?Ī gas station business makes money by selling products to drivers and passengers. Anyone who comes into a gas station is a likely customer and will probably spend at least a few dollars on an item. While these are ideal customers, gas station business owners aren’t picky about whom they serve. Long-haul truck drivers will also frequently purchase some food or a beverage, and they’ll also often spend hundreds of dollars filling up their truck’s tank. Traveling families won’t purchase a lot of fuel, but they’ll frequently get snacks or beverages for everyone in the family. Who is the target market?Ī gas station business’ ideal customer is either a family that’s traveling or a long-haul truck driver. They must also purchase other products that are sold, and pay employees’ wages, utilities, taxes and permit fees. Gas stations must pay for the fuel they sell, which alone often runs over $1 million annual for many stations. The ongoing expenses for gas station businesses are high. What are the ongoing expenses for a gas station? In some cases, the startup expenses can be much more than noted here. $20,000 for setting up a convenience storeĭepending on the location of a gas station and what buildout is involved, the startup costs for a particular station may be more or less.According to JUX Law Firm, business owners should expect to spend around $300,000, which breaks down as follows: The startup costs associated with opening a gas station business are substantial. What are the costs involved in opening a gas station? Luckily we have done a lot of this research for you. What are the startup and ongoing costs?.It will help you map out the specifics of your business and discover some unknowns. STEP 1: Plan your businessĪ clear plan is essential for success as an entrepreneur. Exploring your options? Check out other small business ideas. These steps will ensure that your new business is well planned out, registered properly and legally compliant. We have put together this simple guide to starting your gas station. There is more to starting a business than just registering it with the state. Get the Necessary Permits & Licenses for your Gas Station.Open a Business Bank Account & Credit Card.Form your Gas Station into a Legal Entity.Start a gas station by following these 10 steps: