Customers often select which gas station to patronize based on current fuel prices, rather than acting loyal to a single station. Please use the Allensburg's Food and Gas Executive Summary . Erect billboards on the highway and within strategic locations in the neighborhood to let potential customers know about the gas station. Starting a gas station business plan should include a strategy that incorporates the local community as customers. In order to understand how to open a gas station and be successful, there must be a well-defined sales strategy. Gas Station Business Plan – Economic Analysis. The reason I say this is because the petroleum industry is strictly regulated, filled with lots of bureaucratic processes, very capital intensive and risky. Examples of good locations are: One of the prerequisite for obtaining your license of operation is your certificate of incorporation and tax clearance. To avoid misquotations and miscalculations, it is advisable you conduct feasibility research and work on your business plan alongside a business consultant or a consultant specialized in the oil and gas sector. Download Gas Station Business Plan Sample in pdf. Like I said earlier, the oil and gas industry is strictly regulated. Do you want to become an independent petroleum marketer? Describe in detail the services and products of your gas station. Savoy Gas Station aims to offer a fully equipped gas station facility for motorists using the busy Interstate highway. In fact, it is probably one of the most vital sectors of the economy because every other industry is dependent on its output; which are petroleum products. After realizing there are few gas stations around Princeton area off the interstate highway, Savoy Gas has found a market it can effectively explore and provide a critical service for its customers. Once you hire employees, you are good to go. Our expertise can give you the edge you need to make you stand out from the pile on an investor's and bank's desk. Savoy gas station intends to pay its staff the following salaries for the first three years after launching operations. Currently, commuters don’t have a well-equipped shop where they can get adequate food supplies while travelling since the nearest gas station is over 15 miles away. Gas Station Business Plan (Five Things Your Gas Station Business Plan Should Contain):- • List the Products and Services Your Gas Station Will Offer. Here at HJVentures, we have a great deal of Gas Station experience in working with new Gas Station companies. So it is not an industry for the lily-livered. Hire expert marketing firms to formulate innovative sales strategies that will be used on a continuous basis to attract customers. OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. Opening a gas station cost must be known and other key financial variables that will steer the business to prosperity identified. Get the Bplans newsletter: Expert business tips and advice delivered weekly. Ajaero Tony Martins is an Entrepreneur, Real Estate Developer and Investor; with a passion for sharing his knowledge with budding entrepreneurs. Gas stations offer more services and products than just gasoline. To make the process easier, I recommend you seek the advice of an oil and gas consultant; or better still, you can talk to an already established gas station owner. The following is key financial information for Savoy Gas station. Based on market research and findings, the business is targeting the following customers for inclusion in its gas station marketing plan. A gas station is location-driven. Watch competitors' prices carefully, and always match or slightly beat the lowest price. Savoy gas station is expected to be nearest shopping facility that stocks basic items. It's fast and easy, with LivePlan. Local communities living around the gas station are excellent customers because the business will get steady revenue from them. This business is location driven, so you will also need to deal with the challenge of getting a nice location. Mike has worked in various senior capacities in different organizations, as well as participated in numerous local, regional and global petroleum conferences. This gas station business plan sample explains the strategy the gas station intends to follow to meet its targets. Capitalization table Shareholders’ ownership dilution is calculated here. Sorry that something went wrong, repeat again! Start planning. Writing a business plan should never be daunting, that’s why we recommend you use this template so you can be more efficient with your time. Please use the. Successful applicants will undergo an intensive training and induction session before the gas station opens to the public. The only way to succeed is to have a solid marketing strategy for your gas station and form strategic partnerships. Sell your products at a competitive price, Observe loyalty programs for regular customers, Encourage your staff to be friendly with customers and build a relationship with them, Employ good looking boys and girls as pump attendants, Be honest, don’t alter or tamper with your pump meter, Choose a good, memorable name for your fuel station, Reward your loyal customers every festive season such as Christmas, Easter, etc. Starting your own gas station requires a good understanding and knowledge of the oil and gas industry. The major products of a gas station include the gasoline and the diesel that accounts for the majority of the revenue that is generated from the gas station. There is a projection of annual sales growth of between 20-25%. Motorists are the key customer target included in this gas station business plan template. Opening a gas station requires great innovation in service delivery. Success in this business is hugely dependent of adequate fore-planning and preparedness. Managing a gas station is expensive and time-consuming. Mike Wall is an expert Petroleum Engineer who has had a successful career spanning over twenty five years. Running a gas station is management intensive, so you will need extra hands to cover positions such as pump attendants and a manager. The Cedar Hill Gas Station will be a full-serve and self-serve facility that will sell gasoline, boat fuel, motor oils, lubricants, and confectionery. Secondly, the retail prices are strictly regulated by the government. Investing in a gas station requires a significant amount of investment, but with a sound business strategy, you can be assured of recovering your entire investment. What this means in essence is that establishing your filling station in a good location will almost guarantee success; as you will likely not invest much in running advertisements. The gas station will be registered under the name Savoy Gas and will be located in Princeton, New Jersey on Exit 2 off the New York Philadelphia interstate highway. Savoy gas station is owned by Mike Wall, a Petroleum Engineer who will also be the Chief Executive of the gas station. As a staple in the community for gas and cooked food, COMPANY NAME is looking to expand to a … Start your own convenience store gas station business plan. Get the Bplans newsletter: Expert business tips and advice delivered weekly. OGScapital website is not supported for your current browser.Please use: Document for passing government compliance requirements for immigration to the US, Canada, or the UK. Start your own convenience store gas station business plan. E-mail is already registered on the site. If YES, here is a complete sample LPG cooking gas plant business plan template & feasibility report you can use for FREE. In fact, I personally know some individuals who gave up at this phase; just because of the stress involved with getting approval for their mini kerosene depot. Obtaining licenses, approval and permit to run a filling station is where the major problem lies. That’s why after the feasibility study phase, the next important phase is to write a business plan. What are the Requirements to Become a Mortician? There is no definite amount for starting this business as the cost may vary due to factors such as location, size of station, number of fuel pumps, type of extra services offered. This is the only gas station within a fifteen mile radius, the demand for business and products is expected to be high. This gas station business plan sample explains the strategy the gas station intends to follow to meet its targets. Are you interested in starting a gas station business? Setting up a gas station is a capital intensive project, Running this business requires a technical know-how. A gas station also known as a petrol station is a business that retails diesel, gasoline and various types of motor vehicle lubricants. Your business plan can look as polished and professional as this sample plan. Allensburg is a small town with a population 3,400. Gas station business is not a Green business, as a matter of fact; you will come across several gas stations when you drive along any road in the United States. Savoy gas station Brake-even Analysis is illustrated in the graph below. We thank you guys again for professional approach and easy communication. In this article, we talk in detail about what it takes to run a successful gas station. Advertise the business on various media channels i.e. Contact our Gas Station consultants today to develop your Gas Station business plan. 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