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- Aug 18, 2011
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I am curious if anybody here has any experience owning a gas station. Searching for businesses for sale is sort of a hobby of mine (I dont use facebook). It seems like there is always a few that look decent with reasonable financials and selling for a decent multiple.
Things I know that are important:
Who owns the land- many corps are in the gas station developement business. They build them out run them for a few years then lease them out. If you arent careful they will jack the rent on you in the not to distant future soaking up your profits.
Whats under your land- the quality and health of your tanks is very important as Enviro fines/ lawsuits are very expensive.
Location/area- whats your competition like as well as vacant land available with the potential for somebody else to open a station.
Future construction- check with you local city hall/ building department to see if the roads infront of your station will be undergoing construction in the near future. It can shut you down for up to a year or more.
Im sure I left something out but when it comes to me I will post it. Anyways any advice would be great as I have been tempted more then a few times to pick one up.
Things I know that are important:
Who owns the land- many corps are in the gas station developement business. They build them out run them for a few years then lease them out. If you arent careful they will jack the rent on you in the not to distant future soaking up your profits.
Whats under your land- the quality and health of your tanks is very important as Enviro fines/ lawsuits are very expensive.
Location/area- whats your competition like as well as vacant land available with the potential for somebody else to open a station.
Future construction- check with you local city hall/ building department to see if the roads infront of your station will be undergoing construction in the near future. It can shut you down for up to a year or more.
Im sure I left something out but when it comes to me I will post it. Anyways any advice would be great as I have been tempted more then a few times to pick one up.
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