Don't Invest In Land For A New Gas Station Without First Conducting A Feasibility StudyShare
Are you looking to go into business as a gas station owner? Perhaps you already own one or more gas stations but are looking to expand further? Whatever the reason, don't purchase new land with the intent to build a gas station without first doing some extensive research about the land and area you are investing in. Here's why every potential gas station owner needs a gas station feasibility study before signing on the dotted line.
Make Sure The Soil Can Handle the Gas Tanks
The gas that is served to incoming vehicles at a gas station is almost always stored in underground gas tanks. You don't want to invest in a piece of land and then find that the land itself is not suitable for the storage of these tanks. For example, the soil could be too soft and that could cause the tanks to sink without additional costly construction to add stabilization. You could also run into issues with corrosion on the tanks depending on the chemical makeup of the soil that will be coming into contact with the tanks.
How Many Cars Actually Drive-By on a Daily Basis?
You also don't want to build a gas station in a spot that will have limited traffic. You might have already done your own research by simply keeping an eye on the area, but a gas station feasibility study will be able to give you actual numbers to work with. You'll know exactly how many potential customers might drive by on say, a Sunday afternoon.
How Easy Will It Be to Get Cars Into the Station?
Of course, making sure there are enough cars driving through the area is only one part of the battle. You'll also have to make sure it's easy for the cars to get off the main highway or road and into your station. Depending on exactly where your land is situated, you might have to build an access path for vehicles to get to your business. A feasibility study will let you know if there are any local rules or regulations you will need to follow while adjusting the road in order to help people reach your station.
Know What to Buy for the Shop
Gas stations can make money off the gas itself, but the real money is made inside the convenience store, where basic items like drinks and food can be marked up a bit in comparison to the local grocery. People are willing to pay a premium for the convenience of quickly grabbing what they need before they get back on the road. A feasibility study will let you know which convenience items are popular in your area so you can maximize your profits.
For more information, reach out to a company that does gas station feasibility studies.