How To Open a Gas Station

gas prices

Opening a gas station can be a good business investment, especially considering the dependency of Americans on their automobiles. People are going to need gasoline for a long time, even as technology begins to develop electric and hybrid cars. The first thing you need to do is put together a detailed business plan that outlines your vision. Once you have a plan in place, take these steps to get your gas station going.

1. Find an ideal location. The best spot for a gas station is a high traffic area that is easy for cars to access. I never go to gas stations that are complicated to enter or exit. Make sure you find a space on a busy, but not impossible, street. Check out the competition, too. You do not want to be in a place where there are two or three other gas stations.

2. Get financed. You will need some start up money so you can build the physical station, buy the oil and attract customers. Take a business loan from a bank or other financial institution, or look for investors who are willing to bankroll your idea.

3. Drill for oil. Not literally, of course. You will need to partner with an oil company in order to arrange for the product to flow from their reserves to you. Shop around and choose a company that seems like a good fit.

4. Check into local codes and permits you will need. Do not cut corners when it comes to safety. Work with an expert to make sure your gas station meets and exceeds the code and safety requirements.

5. Stock your shelves. Most gas stations today include a convenience store. In some states, you can even buy alcohol at the gas station. Decide what else you want to sell at your gas station and start ordering your inventory.

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