I don’t own one, but here’s what everyone will say.
They don’t make money on gas, the margin is too low, you can’t find help, you barely make money on the convenience store and employees will rob you blind.
At the same time some of the richest families I know own them.
So someone is lying.
Let me know if you discover anything else.
I need to know how the pump side works. Like who comes to inspect them to make sure everything’s up to par before we pull the trigger on this place. Not much info online
My dad built one in my hometown when I was younger. Made decent money but he sold due to dealing with employees. It was always something. They are worth it IMO if you can handle the headache. I've considered it myself here in West Texas.
We have financed quite a few of them in my past banking career. I know that through the financing process, you have to have them inspected by a qualified inspector. A Phase I environmental at a minimum and depending on what that shows, maybe a Phase II. If they find any leakage, then that has to be remediated before going any further. On the pump side, most of the time you can get a contract with a jobber that will put in the pumps and signage in return for the gas contract.
Not a gas station, BUT we used a guy out of Dallas to help design and install our 10k gallon 180 proof ethanol tank. He performs annual inspection on pump and veeder root system. Veeder root box performs daily leak check calculations based on level calculations.
I need to know how the pump side works. Like who comes to inspect them to make sure everything’s up to par before we pull the trigger on this place. Not much info online
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Inspect the dispensers and underground tanks or the dirt before those are installed?
I need to know how the pump side works. Like who comes to inspect them to make sure everything’s up to par before we pull the trigger on this place. Not much info online
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If you're looking to buy an older place get it REALLY inspected. It would really suck 6 months after you buy if they shut you down for a leak.
they could be a big environmental liability. talk to a banker who loans on these and ask them what they require. your interests and theirs will be aligned. and budget a big contingency on top of it.
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