Top Ten Features of Successful Gas Station/Convenience Stores
By Richard Parker: President of The Resource Center for Buying a Gas Station/C- Store™ and author of How To Buy A Good Gas Station/C-Store At A Great Price© .
Before you buy a gas station or buy a convenience store, review this list of the features that make the difference between gas station/convenience stores that survive and those that are making big money.
Some of these features might be in place before you buy the business. Others are extras that you need to add. But the bottom line is, the more of them that you have, the greater your success will be.
- Location, location, location. A highway-side location with easy access to a major Interstate is the most sought-after location, with a well-trafficked mall-side location coming in a close second. If these are not in the picture, at least look for a business located on a street that is safe, well-traveled and well-maintained.
- Prospects and lots of them. A strong demographic base of people who are your customers – or who can be convinced to become so. To make money, you need customers – it’s pretty simple.
- A welcoming look. That means large windows, an uncluttered interior, cleanliness and bright lights. Remember, people see your business before they choose to do business with you.
- Bright, big, colorful signs. These matter – even if you are not selling one of the major gasoline brands.
- Canopies over the pumps. These are costly – but critical.
- Large store size. This might not be possible if you are buying a gas station/convenience stores in a suburban or rural location. But studies show that bigger convenience stores attract more customers and generate more profit. The math is easy: More Space = More Product = More Revenue = More Profit
Plenty of convenient parking spaces near your door. Without them, your stores earnings will suffer.
Coffee (and the smell of coffee), as well as other freshly prepared food offerings, like sticky buns. Even flavored slush machines bring customers and their kids into the store in the summer months. On the flip-side, nothing is less appealing than the smell and presentation of burnt coffee or food items that should have been discarded hours earlier.
Fresh dairy products with expiration dates well into the future. Milk is one of the most frequently purchased items in convenience stores. You need a fresh supply with long expiration dates.
A visible manager – and friendly-looking employees. Even in a station/store with automated pumps, people want the sense that someone in minding the store – and who is there to smile and answer questions.
To learn more success secrets of top-performing gas station/convenience stores, be sure to read our guide, How to Buy a Good Gas Station/Convenience Store at a Great Price.
This article represents a fraction of what you’ll learn in How To Buy A Good Gas Station/C-Store At A Great Price© - the most widely used reference resource and strategy guide for anyone thinking about buying a gas station. Read a detailed listing of what you'll learn.