The gasoline stations subsector is part of the retail trade sector. Industries in this subsector retail automotive fuels and oils, often alongside convenience store items.
Startup costs for a gas station range from $250,000 to $2 million, covering expenses such as land, construction, inventory, and equipment. Profit potential lies in both fuel sales and additional revenue streams from convenience store items and other services.
1.1 Decide to Start From Scratch or Buy an Existing Gas Station
1.2 Look for a Location
1.3 Build the Gas Station and Buy Equipment
- Author: Adam, Co-founder of ProjectionHub
- Profit Potential: Over 100,000 gas stations bring in $400 billion in revenue annually.
How profitable is owning a gas station? Success hinges on factors like location, cleanliness, customer service, pricing strategies, additional revenue streams, and technology adoption. The potential for steady income exists with strategic management.
How do I start a small gas station? Estimate equipment costs, choose a prime location, focus on cleanliness and customer service, consider technology upgrades, and explore diversification beyond fuel sales. A thorough business plan and strategic approach are essential for success.