Newly Revised 2nd Edition
Why a book about starting a gas station business? Well, gas stations are in every street corner, they are a dime a dozen, but why are there so many of them?
Since the economic meltdown of 2008, we not only witnessed the collapse of the housing market, but also the wave of small businesses that closed their doors forever. Look at your city, and I am sure you will find empty homes alongside many local businesses such as restaurants, gift shops, and clothing stores standing there with empty windows and a "For Sale" sign in the front.
How many gas stations or convenience stores closed during the same time period? Probably none. Instead, you may have noticed there are new stations constantly being built.
Why is that? The answer is simple: it is a recession proof business. Whether you have a job or not, or have a house or not; you still need gasoline for your car, milk for the kids, or need to make a quick run for cigarettes, beer, and soft drinks. Your corner gas station is filled with all of our daily life necessities.
Now that we have established that a gas station is a good recession proof business to get into, the question is how do we get into one on a limited budget and once we do get into it, how can we stand out in this crowded market and be unique.?
Here, in this book, I'll bring you all the answers along with the best information possible to help you start, run, and grow a successful gas station/convenience store business. Whether you're just starting out or you're a veteran in the gas station business, I am going to show you some new and innovative ways to get you to the next level and stand out from the crowd.
As a 20-plus-year veteran of the gas station business, I am always trying new and innovative methods to increase sales and profitability. Technology and marketing strategies are changing every day, and the "old school" methods are not working anymore.
In this book I outline and explain, in depth, the following points:
- How to choose the right business location
- Should you buy or lease a gas station business
- How to effectively conduct due diligence on any business
- How to get bank financing
- How to close a deal
- What and how to set up a corporation and obtain all required licensing
- How to market your store and increase sales and ultimately profitability
- How to hire, train, and manage employees
- How to have an inventory management system
- How to do bookkeeping
- How to handle loss prevention/theft
A full business plan in included in this book along with a link where you can download a fully workable business plan that you can modify to fit your needs.
After reading this book, if you still have need for more information, I would suggest you check out my Gas Station Business 101 Podcast on iTunes. It is free to subscribe and you can listen to it anywhere. Through this podcast, you'll stay up-to-date on everything that is going on in this industry.
Branding, business plans, business loans, innovative marketing strategies, theft control, bookkeeping, regulations, pricing - you name it - it's here for you!
You can also check out my blog at GasStationBusiness101.com and let me show you the way to becoming successful in this profitable niche business.
In this second edition, we addressed a few errors and typos, we also updated some data, as well as some charts and graphs that are now much easier to read.