Creating a Gas Station Business Plan
Gas stations in the Los Angeles area continue to be big moneymakers. If you are in the market to buy a gas station, please consult the article Otherwise, below are areas a business plan for a gas station/convenience store that owners should address.
Products & Services
Describe all the products and services your gas station/convenience store will provide. This should include different grades of gas, diesel, types of oil and antifreeze. Itemize convenience store products such as alcoholic and non-alcoholic beverages, gourmet coffee, groceries, deli products, apparel, etc. Services can include a car wash, automotive repairs, ATM, etc.
Market Positioning
Analyze the market in which your gas station will be competing. This should include information about your competitors, including their traffic flow advantages and disadvantages, pricing strategy, comparison of goods and services, etc. Explain why there is a demand for another gas station/convenience store and how your business will differentiate itself from the competition, e.g., by offering convenience goods, automotive repairs or the lowest prices. Your competitive advantage might focus on selling gas on a busy street where no other gas stations exist or your location fronting lanes traveled by homeward bound rush hour traffic.
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Marketing Plan
Develop a sales strategy that attracts customers and leads to repeat business. Signage advertising your goods and services, signage touting gas prices, and rewards programs are some examples. Rewards programs. Your strategy might include offering a rewards program and erecting signs to let drivers know your gas prices. Make certain your gas station/convenience store is listed not only on cell phone Apps, but on Google, Bing and other search engines. If your gas station/station convenience store is part of a franchise, take advantage of the marketing and advertising the parent company provides.
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Business Acumen
Explain to investors your the skills and experience to build a profitable station. If you lack experience in the gas station field, explain how the other businesses you’ve worked for or owned will help you make this venture successful. If you lack personal experience managing a gas station, recruit and describe the background of an experienced manager to run the business.
Financial Projections
Prepare financial projections to determine the startup costs of leasing or buying a gas station and making the pumps operational. Your financial documents also need to show the cost of required licenses, payroll, utilities and environmental services. Calculate the revenues you anticipate from the sale of fuel, automotive products and concessions in your revenue projections. Of course, much of the above information should be suppled by the seller.
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