Because they are so necessary to our everyday lives, gas stations can be successful businesses. However, there are a few things you should think about before making an investment in a gas station. The most well-liked gas station is one of these factors.
The most well-liked chain of gas stations in the USA, according to a 2021 study by GasBuddy, is Costco, closely followed by QuikTrip and Wawa. For several years, these three chains have maintained their dominance. The well-known gas station chains Shell, Exxon, and BP are also available.
It is important to remember that for gas station operators, popularity may not always convert into income. The success of a gas station can be impacted by a variety of factors, including location, competition, and pricing policy. Due diligence must therefore be done before investing in a gas station, including an examination of the regional market and customer trends.
Whether a gas station is owned by a significant oil corporation like Marathon Oil is another factor to take into account before investing in one. Although Marathon Oil does not directly own gas stations, it does provide fuel to a number of chain gas stations, including Speedway and ARCO. You can invest in a gas station with confidence if you are aware of the link between oil companies and the chains of stations.
Control over pricing policy, convenience store sales, and possible earnings from car wash services are just a few advantages of owning a gas station. The possible hazards and difficulties of running a gas station, such as environmental restrictions, fluctuating gasoline costs, and competition from other gas stations, must be taken into account, though.
In conclusion, the most well-known gas station chains in the USA right now are Costco, QuikTrip, and Wawa. However, being well-liked is not a surefire way to succeed as a gas station owner. Before making an investment in a gas station, it is essential to comprehend the local market, consumer behavior, and potential risks and problems.
Depending on the location, brand, and market circumstances, the profit a gas station makes on a gallon of fuel might change. A gas station can typically make between 15 and 20 cents every gallon of gas sold. This profit margin, though, may be considerably lower when there is intense competition or when gas prices are erratic. Additionally, convenience shop sales and car wash services are additional revenue opportunities that gas stations offer that can boost their overall profitability.
Depending on the size of the station and the number of fuel tanks it has, gas stations can contain a broad range of amounts of gasoline. However, gas stations can typically hold between 10,000 and 30,000 gallons of gasoline. Up to 100,000 gallons or more of fuel may even be available at some larger stations or truck stops.