The Speedway gas stations are owned by Speedway LLC. With more than 4,000 locations around the country, it is a chain of petrol stations and convenience stores. The business was established in 2011 after Hess Corporation’s retail operations were acquired by Marathon Petroleum Corporation (MPC). Since then, Speedway has grown to be one of the biggest gasoline sellers in the nation.
Speedway convenience stores carry a range of goods in addition to gasoline, including snacks, drinks, cigarettes, and lottery tickets. Hot dogs, pizza, and other things have been added to the company’s recent expansion of its culinary selection. Because of Speedway’s emphasis on cost and convenience, customers frequently choose it.
Convenience store profitability varies depending on factors including location, size, and competition. A convenience store’s average profit margin in 2019 was 2.4%, according to a research by the National Association of Convenience Stores. This might not seem like much, but given the numerous convenience businesses’ strong consumer traffic and sales, it can nevertheless generate considerable earnings.
There is no one-size-fits-all recommendation for the best kind of business to launch when it comes to launching one. It relies on a number of variables, including personal preferences, abilities, and market demand. Online enterprises, e-commerce stores, and service-based ventures like landscaping or cleaning are other well-liked and lucrative alternatives.
Shell provides franchise options for people interested in operating a gas station, with start-up costs ranging from $50,000 to $500,000 depending on the size and location of the station. McDonald’s, on the other hand, is one of the most well-liked franchise opportunities and requires an initial investment of between $1 million and $2.3 million.
In conclusion, Speedway LLC is the proprietor of the convenient and reasonably priced Speedway gas stations. Convenience stores can still be quite profitable in many cases, despite variations in profitability. The ideal form of business to launch depends on personal preferences, since franchising opportunities like Shell and McDonald’s have different startup costs.