in this video i'm going to talk about
how you can start a gas station business
and i'm not just going to tell you how
you can sell fuel and make money but i'm
going to tell you about multiple ways in
which gas station owners are able to
profit and how they make a lot of money
now from the surface you think that a
gas station makes money from selling
fuel because that's what it is right
it's a gas station however there are
actually other ways that you can make
money from the gas station business and
you can make a ton of money and actually
selling fuel isn't the most profitable
way so stick around to the end of this
video because i'm going to be talking
about all the ways in which you can make
money from a gas station business and
also if you're interested how you can
actually go out there and the steps that
you need to take if you want to get into
this business now just before we get
into all the details here just a quick
reminder i do a lot of research i spend
a lot of time on gathering this info and
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post future videos on this channel now
the first thing i want to say before we
go any further in this video is that a
lot of these businesses that i talk
about on this channel you don't need
millions of dollars to start these
businesses for example i did a video
about a year back on how to start a
t-shirt business and usually people
would think that you need a significant
amount of capital you need like hundreds
of thousands of dollars to get a t-shirt
business going but i was able to find
all the equipment or all the required
equipment to start that t-shirt business
and i was able to find the equipment for
only three hundred dollars so the point
here is if you're really interested you
can get into some of these businesses
without actually spending millions of
dollars now let's talk about getting
into your own gas station and there are
three main ways that you can do this the
first way is that you can either
outright just buy a gas station business
meaning if someone else owns one
outright then you can just buy they can
sell it to you you can pay them and you
own it 100 and then the second thing
that you can do is you can build a gas
station from scratch and then the third
thing that you can do is you can buy
into a franchise now on the surface
probably buying into a franchise may be
the most cost effective way to get in
but it may cost you a lot more and the
cheapest way if you're looking at this
long term the cheapest way actually
would be to just outright buy a gas
station business now i'm saying this
because if you buy this business then
you own it outright but if you get into
like a franchise then you're probably
going to have to pay or not probably
you're going to have to pay
a leasing fee for the actual land that
that gas station is on every month or
every year and then you're also going to
have to pay a monthly amount to whoever
you're getting that franchise from and
that is going to eat into your profits
now if you're wondering where you can
actually go and see the prices of gas
station businesses you can go to this
website it's called
bizbuysell.com you go to your state and
you search for whatever business you're
looking for so in this case it's a gas
station business so for example on here
i'm scrolling i'm searching for a gas
station business in florida and here it
ranges from around a hundred thousand
dollars and up and this includes
franchise opportunities buying the gas
station business itself or just outright
purchasing a gas station business with
the land and owning everything if you
use this website then you can actually
get an idea of what it will cost you to
purchase a gas station business in
whatever state or whatever city you are
in or at least where you're interested
in owning this business now while you're
looking at your gas station businesses
and you're looking to purchase one the
most important factor here is the
location and the location is key because
that is how you'll be making a lot of
your money so you can find two different
gas station businesses selling in the
same city and you may see one selling
for a million dollars and one selling
for a hundred thousand dollars and the
only difference here is that one is in a
very high traffic location we're getting
probably 5 000 people using that gas
station per day and the other one is in
a low traffic location where it's only
getting uh two to three hundred people
using that gas station per day so the
location is the most important factor
here and when you're getting into this
business you want to get the best deal
in terms of pricing but also you want to
get a gas station business that is in a
location with the highest amount of
traffic also if you look here you'll
realize that for example this one is
selling for around 249 000 but this is a
gas station and also a convenience store
so you're getting something else and
then you have another one here for 399
000 that's just a gas station and you
have another one which is a gas station
again for 98 000 and also another thing
to look at here is what the gas station
business comes with so you could get a
gas station that's only going to sell
fuel it just has the pumps or you could
get one that comes with a convenience
store and that way you get to sell stuff
in the store and that's another income
stream for you or you could get that one
that even has a car wash and then you
actually have all businesses in one
location and more income than by just
merely selling fuel now after you figure
out what you want to do here the next
step is to actually acquire this
gestation business now you have three
main ways that you can do this you can
either pay for it in cash outright if
you have the money and if you don't have
the money if you don't have that 300 or
400 000 to pay for this gas station then
you can go and get yourself a good
credit score and get a loan or you can
ask the owner or the person that's
selling the gas station business to do
owner financing and that way you can get
into the gas station business now
usually the question that comes up here
is if these gas station businesses are
so profitable why would anyone be
selling their gas station business right
why don't they just keep it keep making
all the profits and keep making a lot of
money so usually they're selling because
either one they're actually lying
they're lying to rip you off the gas
station doesn't do as much business as
they're saying or it's not in a high
traffic area as they're saying so be
sure to look out for that or secondly
maybe they've made some bad financial
decisions and so now they have to sell
their businesses to
recover from that or thirdly it could be
a case where someone goes out there and
they purchase a gas station business
they purchase a franchise they get into
the business they're not really business
savvy and then after 10 or 12 years of
being in that business they realize that
it's not the business for them and while
the business is profitable they realize
that they'd rather go and do something
else with their time than be involved in
this business that they no longer have
any interest in so the point is you can
get a good deal but you have to watch
out for the scans because it's not
always as good as it seems and maybe
some of these people are actually trying
to get out of the business because
they're losing money now depending on
where you are this may not be a lot of
money you could get into the gas station
business for a hundred thousand or even
slightly less so if you were always
thinking that you needed millions of
dollars to get into this business then
you may want to check this out because
you could get into this business for way
less now let's talk about how much money
you can make from your gas station
business because now you know how much
money it's gonna cost you and where you
can go and find the businesses and how
you could also get financing but
actually before we talk about profits
let's talk about the expenses and some
of the costs that you're gonna have
while running your gas station business
now some of the costs that you're gonna
have includes employees and i know some
people may be thinking or you may be
saying well ian i'm not gonna have any
employees i'm just gonna buy this gas
station business i'm gonna run it myself
or use my family and that way i don't
pay any employees i'm going to be the
owner and the operator but while that
sounds really good on paper that's
probably not what you want to do because
the entire goal here is to own multiple
gas station businesses now i'm saying
this because for instance if you look at
the success stories of other gas station
owners usually if they're successful
they don't only have one gestation
business they have an empire of several
businesses so you don't want to be the
owner and operator of this gas station
business instead you want to employ
people to do it and that is why it's
going to cost you however you don't
really have to employ these people per
se you can make them contractors and pay
them like on a 10.99 but one more
important thing that you want to do is
you want to know all the ins and outs of
the gas station business before you
actually jump in so to do this if you
currently know nothing it would be good
to work at a gas station for at least a
few months or even a few weeks before
you actually get into owning your own
business and that way you know exactly
what you're getting yourself into so the
first cost here is going to be your
employees now other costs that you're
going to have will include insurance
permits from your state or city
maintenance cost off fuel pumps or your
convenience store or car wash or
whatever else you have at this gas
station business also legal fees
inventory and remember you don't just
open a gas station and the pumps work 24
7. you're gonna have to be purchasing
fuel or inventory which means that
you're gonna have to be purchasing this
almost all the time and be replenishing
your reserve so that is also going to be
a big cost for you now if this is
starting to sound like a headache when i
mention the fact that you need permits
and legal fees and all this stuff if
you're actually buying a gas station
business or going into a franchise then
most of the permits and the paperwork
that you would need to operate this new
gas station business are already there
and the owner or the operator just needs
to transfer them to you so you'll be
paying more for like legal fees and
legal services just to make sure
everything is done right and not really
doing everything from scratch as opposed
to if you were building a gas station
and then applying for all the permits in
the beginning so you're still gonna have
a lot going on but if you're actually
just purchasing an existing gas station
business all you really need is a good
legal team or good legal representation
and that way you can have all the
paperwork handled and it will actually
be a lot less stressful for you now i
found out that you may not make a ton of
money from selling fuel this is just the
front of the business and this is why
most gas stations will either have a car
wash there or a convenience store or
even a restaurant or other businesses
there because they use the gas station
to actually lure people in so they lure
people in and of course when they come
in they start pumping fuel into their
cars they can then walk over to the
convenience store and they can shop and
that way you as the gas station owner
can make some more money so let's now
talk about the profits from a gestation
business if you go back to
bizbuysell.com and we look at some of
these gas station businesses for example
one here is selling for 89 000 which is
really cheap but the cash flow is 74 000
and this one is selling for 199 000 and
the cash flow is 114 000 so you can see
that the margins aren't really that high
yes you can make profits but it's not
like hundreds of thousands of dollars in
profits per year and so after looking or
browsing through i realized that in a
gas station business you actually don't
make most of your money or most of your
profits from actually selling fuel and
you use the gas station as a front just
to get your customers in and then you
use the other businesses that you have
like the convenience store or the car
wash or the restaurant or whatever other
services that you have at this gas
station business and this is where you
make the bulk of your profits so for
example i'm looking at one of these gas
station businesses here it's saying that
or is at least highlighting the profits
by saying
the convenience store averages 30 to 35
000 per month not counting lottery sales
and the lottery profit is an additional
two thousand dollars per month it also
goes on to show here that the seller
just added a food truck on the property
which pays 600 per month and basically
once you start going through these gas
station businesses you realize that the
fuel is not really what makes the money
but it's the other services that you
have at the gas station and so i think
that on average you can make around 50
000 per month from either your
convenience store or your car wash or
whatever else you have going on at this
gestation business also this is why
location is very important because if
you get a lot of people into this gas
station then you can get a lot of people
into the convenience store or into the
restaurant or into the car wash or
whatever else you have going on there
and that way you can increase the
profits per month which is going to be a
lot more than just merely only selling
fuel now if you saw a gas station
business selling for less than a hundred
thousand but all it was was just the
bear gas station business it was in a
high traffic area but they had like a
very low or small profit margin then
that could actually be a good deal
because you could go there and you could
like this one right here you could put a
food truck on the property or you could
open a small convenience store that runs
24 7s and that way you can make 30 to 50
000 per month more at this gas station
business which makes you a lot more in
profit than just selling fuel by itself
now to pull this off some good ideas
here would be one a convenience store
secondly a restaurant or a food truck
thirdly you could go with a car wash you
could even hire a mechanic and do like
simple car servicing like changing
brakes or changing oil or air filters or
replacing windshield wipers or other
mechanical stuff that they can do in
like 5 to 10 minutes and if you want to
do a lot more you can get a gas route
which means that you can become a
supplier for other smaller gas stations
and this way you have more profits
coming from this one gas station
business so the main points are if
you're looking to get into the gas
station business i think it's better to
find a really good location or a gas
station business in a really good
location and even if the profit margins
are really small you can actually add
other businesses there that will get you
to making a lot of money rather than
going out there and spending a ton of
money on a gas station business like a
million dollars for one that already
generates 100k in profit every month so
find a good gas station business on a
deal and then think about what you could
add to that gas station business if it's
at a very good location and that way you
can make a lot more money per month now
if you are interested i'm leaving links
down below to the resources and the
websites that i use to get this info so
be sure to check those out and if you
want other business ideas as well be
sure to check out some of my other
videos i've covered a lot of other
business ideas on this channel and with
that said if you found this video
helpful be sure to give the video a
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any of the future updates thank you guys
so much for watching if you ever want to
talk to me one on one you can message me
on instagram link is down below in the
description and once again thanks for
watching all the best and i'll see you
guys very soon in the next one