Choosing the right site can be a challenge. Whether you're acquiring an existing fuel station or building a new one, these questions will help you determine the potential success of each site. Contact us today to learn more about how we can help you get started.
When you're choosing a site, we know it can be tough to interpret competition. Of course, your instinct might tell you to avoid investing in an area that has existing competition. But did you know in many cases, competition can be a great sign of potential success?
Location is among the top two considerations of gas station consumers when choosing a fuel station.* Consumers will even pay more to avoid turning into an area that makes entering or exiting difficult. Make sure you have a presence along a key street or highway that will bring you a steady stream of new consumers. And take into consideration how the traffic flows during different times of day. The site itself must not only be easily accessible, but also positioned on the side of the street that gets the heavy flow of traffic. If you're not on the path, you'll be asking a lot from your consumers.
*Source: NACS, 2014 Consumer Fuels Report
Check construction records and plans within the area. If a major road or interstate will be closed or moved, your steady stream of consumers may be reduced to a trickle. That lag in business can be difficult to make up for.
Understand the laws and regulations you will need to observe as a site owner. Most importantly, check the history of the existing gas tanks for documentation on leaks and/or environmental issues. You don't want to clean up a mess someone else is leaving behind.