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21 Ways to Open Gasoline Business

Open Gasoline Business: Modern gas station have grown more than just a site to fuel our cars.

They have turned into a separate market segment that requires an efficient gas station business plan and winning strategy.

The main feature of the convenience store industry is the ability to combine several fields at the same time. They include:

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Open Gasoline Business

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Open Gasoline Business

  • Foodservice;
  • Convenience Retail;
  • Fuel Sales.

Starting a business in a small town can be a great way to test the waters for your product or service.

Your competition is limited in a small town and advertising costs can be lower than in major cities.

Oftentimes, word of mouth is the fastest and best advertising.

Here’s what you need to know to Open Gasoline Business

Open Gasoline Business

1. Look around the community to see what need is not being met.

If your idea is to start a printing business.
Scour the region to see who your competition is and what services they don’t offer.
Remember that you must have a passion for that type of work, since entrepreneurs work long hours.

 See also: Top 37 Artisan’s Businesses Careers in Nigeria

2. Research how much money, education and help you‘ll need for your small business.

Look around your community to ensure that there is adequate infrastructure for your idea.
For example, if your business will be entirely dependent on worldwide, overnight delivery services.
You’ll want to make sure your town has at least two freight carriers to meet this need.

Open Gasoline Business

3. Get a business plan

Draft your business plan, then share it with a business expert from your nearest educational institute.
Or government agency to determine the feasibility of your idea.
A local chamber of commerce or small business support group can assist you in finding the right person to talk to.

View also;23 Tips to Become Your Own Boss in Nigeria

Open Gasoline Business

4. Get a good location:

Pick a suitable location for your business and check with local zoning experts to ensure you obtain the correct permits for the location.

Almost all small town governments require permits to start a new business.

Even if the business will be home-based. If your operation will be located in a commercial district.

You’ll probably need many more permits for zoning, parking, employees and more.

5. Join the chamber of commerce

Join your town’s chamber of commerce.
Business chambers are located around the world.
And they offer great benefits to new businesses.
By providing low cost advertising opportunities within the local community.
In rural areas, oftentimes business chambers in neighboring cities will allow members to promote their services there too.
In a small town, joining a chamber of commerce is also a great way to know what’s going on in the community.

See also: Top 40 Failure to Successful Business Tips in Nigeria

Open Gasoline Business

6. Promote your business

Promote your new small town business by joining local merchant associations.

And sponsoring events and sports teams.

Introduce yourself to your community by attending these events.

And remember to hand out business cards so people remember you helped with the event.

7. Get to know other local business

Get to know local businesses in your industry to see if there is a way you can support each other.
By reselling each other‘s services, otherwise known as “co-operation.”
For example, if you make fresh bagels, meet with local coffee shops and ask if they would like to carry your bagels.
In return, you can give your customers promotional coupons for that merchant with every order.

See also:20 Tips to Become Computer Programmer Consultant in Nigeria

Open Gasoline Business

8. Think about open land available in your region.

Can you think of an area in need of a gas station?

  • Market analysis has shown that one of the top things a consumer thinks about in choosing a gas station is location.
  • Customers will want a location that is along a major route to work and convenient in terms of traffic patterns.
  • Think about the set up of your station as well. Customers will want to go to a station that is easy to enter and exit from nearby roadways.

9. Consider the local competition.

You will want to avoid an area that is already saturated with gas stations.

  • Look into areas where there is a lot of growth, such as around major cities. As new neighborhoods and business districts crop up, there will be a demand for new gas stations.
  • Research the locations of big-box retailers such as Sam‘s Club which offer steep gas discounts.
  • You will want to place your gas station a distance away from these places to avoid the competition.
  • Consider hiring a modeler to work with you. Many companies exist for site modeling. These professionals will help you build a digital model of your gas station at the site you are planning.
  • This can help you decide whether or not your design is feasible at the location and if there is too much competition nearby.

Open Gasoline Business

10. Think about the accessibility of a potential Gasoline Business to local roads and interstates.

Your presence along a key interstate or street will draw in customers.

  • If your site is close to an interstate or major highway exit, consider investing in advertising signage along that route to increase your business.
  • Take into consideration the flow of traffic during different times of the day.
  • You will want your gas station to be on the same side of the road as heavy traffic during peak times.

11. Research current and future construction projects in the area.

You will want to avoid opening a new business along a route affected by long-term construction.

  • Customers will try to avoid highways and roads with heavy construction.
  • If there is a plan for long-term construction at or near your location, consider purchasing a different lot.
  • Even short-term construction projects can impede your business. Remember, your goal is to get lots of customer traffic near your gas station.

Open Gasoline Business

12. Consider local and state regulations about the building and location of Gasoline Business

There may be local restrictions or fees associated with opening this type of business.

  • Check the history of the site you are considering.
  • If you are purchasing an existing gas station, be aware of any spills or leaks that occurred in the past. You could be held liable by local or state laws for any future complications.
  • If you are purchasing an existing station, check if you are held to the gas supplier contract for that site. Some places have laws that will bind you to an existing agreement.

13. If you are purchasing an existing Gasoline Business, the most important thing you should do is:

Open Gasoline Business

14. Understand that obtaining a Gasoline station business loan is very difficult.

The market is becoming very competitive and costs are going up.

  • This is why having a fully researched business plan is essential.
  • Your location will have to be ideal for being a successful gas station.
  • Your budget will need to be a realistic and detailed explanation of funds needed.
  • You may have to visit several banks and financial companies before your plan is accepted.
  • Understand that you may have to modify your business plan according to investor suggestions.

15. Consider a small business loan backed by the Small Business Administration.

These are often the easiest to obtain.

  • Gasoline stations come with a lot of environmental and other real-estate valuation concerns.
  • Often times, SBA loans can cover costs of environmental issues or re-appraisals.
  • Other banks can provide similar loans, but lenders suggest it is often easier to obtain financing for purchasing an existing gas station rather than building a new one.

Open Gasoline Business

16. Establish regular hours of operation.

Decide on these before you officially open.

  • You may have to research when the busiest traffic times are.
  • If none of the other gas stations nearby are open late, consider having late night hours. Consider becoming a 24 hour gas station if there is a market for business after midnight.
  • Always open promptly at the set time. Customers will not want to wait for opening.

17. Interview and hire reliable employees.

Make sure they understand all aspects of their job.

  • You will want employees who will show up on time for their shifts.
  • Schedule your employee shifts to allow for ample coverage during the entire business day.
  • Have a store manager on duty for all shifts.

Open Gasoline Business

18. Take inventory on a regular basis.

You should inventory all cigarettes, lottery tickets, and money orders at the end of every business day.

  • Put in inventory orders in a timely manner. If you are constantly out of supplies in your convenience store, customers will complain or be less likely to shop at your business.
  • Consider how long it takes your vendors to make deliveries. Plan ahead and order popular items well in advance.
  • Run inventory and cash reports at the end of every business day. Keep a ledger with this information so you can keep an eye on losses.
  • Deposit cash to the bank every day.

19. Consider the safety of your employees.

While most gas stations operate without many incidents, accidents and robberies do occur.

  • Keep only small amounts of cash in your registers.
  • Install a drop safe for employees to deposit cash from their registers.
  • Clear your drop safes at the end of every business day and deposit cash to the bank.
  • All employees should be trained in fighting fire, as a fire at the fuel pumps can happen.
  • Install shatter proof glass windows.
  • Consider a 24 hour security system with cameras.

Open Gasoline Business

20. More tips

  • If your small town is difficult to access by road or air, always build these transportation costs into your cost of goods.
  • Inventory that must be shipped into rural communities can cost twice as much as it does in cities.

21. Get the Gasoline station business cost, approximation

$250,000 for land, another $250,00 for equipment, and around $30,000 for stock. This depends on the location and is a low estimate, but probably enough to get started. Oil companies sometimes front quite a bit to get you started for a 5- or 10-year contract.

Read on:20 Tips to Start Publishing Consultancy Business in Nigeria

Open Gasoline Business

Conclusion:

Small  business owners may be threatened by new start ups.  If you are new to the community, expect to make an extra effort promoting yourself and making a good impression in order to disarm wary locals.

What should you do for your business every day?

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