Finimpact
Shell
Location
Nationwide
Features
Highly recognized brand, strong support system
Estimated Cost
$2.5M - $6.6M, $700K minimum liquidity, $30K annual franchise fee
Pros
Broad customer base, strong brand reputation, comprehensive corporate support
Cons
Very high total investment and liquidity required, may be difficult for small business owners
BP
Location
Nationwide
Features
One of the world's largest oil and gas companies
Estimated Cost
$2.5M - $6.6M, $3M minimum net worth, $250K minimum liquidity, $30K franchise fee
Pros
Global brand reputation, offers additional services like car washes
Cons
Very high startup costs, could be prohibitive for new entrepreneurs
Chevron
Location
Nationwide
Features
Strong brand, comprehensive training
Estimated Cost
$1.5M - $2.5M, $500K minimum liquidity
Pros
Strong brand value, training support for franchisees, high quality fuel
Cons
High startup costs and liquidity requirements, high standards for franchisees
7-Eleven
Location
Nationwide
Features
Known for convenience, offers food and drink
Estimated Cost
$50K - $750K, $29K down payment
Pros
Established brand with a wide range of products, low entry cost compared to other franchises
Cons
Competitive franchise application process, long hours due to 24/7 operation
AMPM
Location
Nationwide, but primarily West Coast
Features
Fuel and convenience store combo
Estimated Cost
$354K - $1M, $35K-$70K franchise fee
Pros
Opportunity for high volume sales, special financial incentives and loans for veterans
Cons
High initial investment, intensive operations due to broad service offering
Sunoco APlus
Location
Eastern U.S.
Features
Fuel, food, and automotive services
Estimated Cost
$250K - $600K, $30K franchise fee, $125k minimum liquidity
Pros
Broad service offerings leading to multiple revenue streams, strong presence in the Eastern U.S.
Cons
Geographic limitation, high startup costs
Murphy USA
Location
Southeast & Midwest U.S.
Features
Low-cost fuel provider, often near Walmart locations
Estimated Cost
$26K - $116.65K, $100K minimum liquidity requirement
Pros
Strategic partnership with Walmart, doesn't require high investment
Cons
Limited expansion capabilities, dependent on Walmart's location, requires mid/senior-level management experience
Marathon
Location
Nationwide
Features
Fuel and convenience store
Estimated Cost
$250K - $2M, $250K annual franchise fee, $160K annual stocking fees
Pros
Strong national brand presence, long history in the industry
Cons
High startup costs, more competition due to nationwide presence
Dash In
Location
Mid-Atlantic U.S.
Features
Fuel, convenience store, and food services
Estimated Cost
$136K - $187.2K, $95K minimum liquidity, 5.5% royalty fee
Pros
Unique food offerings, strong Mid-Atlantic presence
Cons
Limited to Mid-Atlantic region, high startup costs
Kangaroo Express
Location
Southeast U.S.
Features
Fuel, convenience store, fast food
Estimated Cost
$268.5K - $4.85M, minimum net worth required $1M, minimum liquidity required $100K
Pros
Quick service, partnerships with popular fast food chains, connected with 8,000 lenders
Cons
Limited to Southeast U.S., may need regular updates to facilities, very high net worth required

Tips for Choosing the Right Gas Station Franchise

Choosing a gas station franchise is like picking the perfect car. You want it to look good, be reliable, and fit your budget. So let's look under the hood at some things to consider.

What to Look For in a Franchise

  • Strong Brand: Choose a gas station franchise with a solid reputation. You want a name people trust; sometimes, paying a premium for this is worth it.
  • Good Support: You want to work with franchisors that won't feed you to the wolves. Ensure the gas station franchise provides training and all the support you need.
  • Positive Franchisee Reviews: Talk to other franchisees. They've been down this road before and can give you the inside scoop.
  • Healthy Financial Performance: Check the franchise's financials. Ask one simple question- Are they making money?  
  • Growth Potential: Look for growing franchises that have the potential to increase your profits over time.

How to Assess If It's a Good Fit for You

  • Evaluate Your Interests: Passion drives performance. Do you have a passion for cars or customer service?
  • Consider Your Skills: Running a gas station requires business acumen, leadership, and a knack for customer service. Do your skills align?
  • Financial Capacity: Look at the costs and your budget. Can you comfortably afford the gas station franchise cost?
  • Time Commitment: A franchise is a big-time investment. Do you have the time and energy to devote to it?
  • Location: Think about where you want to operate. Will a gas station franchise work well there?

How to Buy a Gas Station Franchise

A gas station franchise could fuel your dreams of owning a business and be your ticket to success. Let's walk you through the step-by-step roadmap to owning one.

First, Do Your Homework

  • Understand the Industry: Familiarize yourself with the landscape of the gas station industry. Know the types of gas stations, the potential costs, and the pros and cons.
  • Find Your Perfect Franchise Match: With your knowledge tank full, filter through the many gas station franchise options. Your goal is to find one that aligns with your business ambitions and is a good fit.

Meet and Greet the Franchisor

  • Meet With the Franchisor: Now that you've picked your franchise, buckle up for a meeting with the franchisor. This step lets you "date before marriage," clarify doubts, and gather any details before committing.
  • Submit Your Application: Feeling confident? It's time to put your intentions on paper. Send your application with all the required information, like your financials, personal data, and business plan.

Get Greenlit and Seal the Deal

  • Approval: After review, if the franchisor sees a good franchisee in you, they will approve. An approved application then leads to a franchise agreement with the terms of your franchise relationship. But before signing, go through it with a fine-tooth comb.
  • Pay Your Franchise Fee: After signing the agreement, it's time to pay your franchise fee. This non-refundable fee covers resources the franchisor provides, like training, marketing support, and more.

Gear Up for the Grand Opening

  • Training Time: After the fee payment, you're off to the franchisor's training camp. This program gives you everything needed to run a gas station franchise smoothly.
  • Location Scouting: Post-training, the hunt for your gas station's perfect spot begins. Remember, a good location can make or break your business.
  • Let the Fuel Flow: Now, it's time to roll up your sleeves and open your gas station.  

Final Word

Remember a few things as you embark on your gas station franchise journey. Be financially prepared, research your chosen brand, secure a written agreement, and gear up for hard work. It's not just business; it's a partnership. The road might be challenging, but the destination - owning a successful franchise - is worth every mile

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About the Author

Bobby Samuels

Bobby Samuels

Writer and Business Communications Consultant

Bobby's introduction to stock options at a hi-tech firm left him perplexed and determined to expand his knowledge in finance. He pursued a Master's degree in Finance at Harvard University. His diverse client base that includes CEOs, CFAs, private equity executives, venture capitalists, global investment firms, real...

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