. The entire investment can range from $1.4 million to $4.9 million, and the franchise fee is $25,000. Due to the future of gas stations and autos, buying a gas station franchise might not be the best long-term investment.
Electric vehicles will predominate in the future since the UK government has set a ban on the sale of new gasoline and diesel vehicles by 2035. By 2030, the International Energy Agency projects that 145 million electric vehicles will be in use worldwide. Gas stations, which depend on the sale of gasoline and diesel to stay in business, will be significantly impacted by this transition to electric vehicles.
As the demand for gasoline declines after 2035, gas stations can start to go out of business. Some petrol stations might be transformed into electric charging stations, while others might get a completely new use. Rural gas stations may have a better chance of surviving because it might take longer for the infrastructure for electric charging to get there.
Gas could become outdated as the world transitions to electric vehicles. Even though there will be gas-powered vehicles on the road for a few more decades, the need for petroleum will drastically decline. It’s possible that this decline in demand could result in lower gas prices, which could reduce the profitability of running a gas station.
Owning a gas station franchise might not be the best long-term investment given the future of gas stations. While operating a gas station might be financially rewarding in the near future, it’s necessary to take the industry’s possible impact of electric vehicles into account. An improved long-term investment might be infrastructure for electric charging or renewable energy.
In conclusion, the price of owning a Speedway franchise might change depending on the store’s location and size. However, holding a gas station franchise might not be the best long-term investment given the trend to electric vehicles and the probable obsolescence of gasoline. While gas stations might still be lucrative in the near future, the industry’s outlook is hazy. For a more sustainable future, it’s critical to take into account the potential effects of electric automobiles on the sector and to invest in renewable energy or electric charging infrastructure.