This is due, in part, to the fact that many Arab immigrants to the United States in the latter half of the 20th century succeeded in the gas station business. There are about 3.7 million Arab Americans in the country, many of whom own businesses, according to a 2019 report by the Arab American Institute. Many immigrants, notably Arabs, have easy access to and success with valuable business opportunities at gas stations. The fact that Arabs have a long history of involvement in the oil business is another factor. People from oil-rich nations like Saudi Arabia and the United Arab Emirates make up a major portion of the Arab population. They are therefore well-equipped to manage profitable gas stations because they have a thorough understanding of the business.
So who is the US’s gas station owner? Although a sizable majority of gas station proprietors are Arabian, this is not solely their territory. People of many colors and ethnicities own gas stations. In truth, 65% of gas stations in the United States are individual operators, not huge oil firms, according to the National Association of Convenience Stores.
Owning a gas station may not be the simplest or quickest way to reach your objective of becoming millionaire in five years. However, there are unquestionably ways to benefit from the gas station sector. The US convenience store industry, which includes gas stations, generated $647.8 billion in revenue in 2018, according to a Statista analysis from 2019. This shows that there is definitely money to be made in the sector, but it can call for a sizeable time and financial investment.
There is no simple answer to the question of what industry is the most lucrative. Various industries have varying levels of risk and profit potential. Real estate, technology, and finance are a few fields that have historically been linked to wealth and success.
And last, which industry will thrive in 2021? The perfect business for you will depend on your interests, abilities, and financial circumstances, making it difficult to provide a definitive answer to this issue. However, several sectors, such as e-commerce, healthcare, and renewable energy, are anticipated to perform strongly in 2021 and beyond.
As a result, although though Arabians hold a sizable number of petrol stations in the country, they are not the only ones. People of different racial and cultural backgrounds operate gas stations, which are also lucrative businesses for many immigrants. Even while it might not be the quickest way to become rich, owning a gas station is undoubtedly a realistic choice for those who are prepared to put in the time and effort. The best business for you will ultimately depend on your unique situation and ambitions.