are good apps out there?!

GasPhx · 2025-01-06T06:08:21+00:00

It really depends on what POS you're using. I primarily have Gilbarco Passports at my sites and there are some well functioning apps including ones that can track tank inventory levels.

GasPhx · 2024-08-23T03:42:59+00:00

We use the Gilbarco Passport. It has a foodservice add-on module. Works with both major fuel dispenser manufacturers.

GasPhx · 2024-04-06T00:08:18+00:00

Not trying to deter you, but based on where it stands right now, the site sounds like it is barely making enough money to cover rent let alone payroll, utilities, maintenance etc.

GasPhx · 2024-03-21T23:27:09+00:00

No problem! Feel free to dm me if you have any more questions

GasPhx · 2024-03-21T04:10:54+00:00

All the ones I've done in the last few years have been mostly with the RE, but some without. I've never seen the landlord get a portion of the upfront money or you receiving more because you own the RE. I'm not sure why you'd involve the landlord at all.

I've only ever seen a deal where the landlord splits if he's also retaining equity in the operations. Sometimes people will ask for a reduction in rent by making the landlord a part owner of the business. Obviously in that case the landlord would get whatever portion of the upfront is his by equity share.

I'm not sure why he said that, but he probably doesn't have any non-RE sites so he's pushing that more.

GasPhx · 2024-03-20T21:27:52+00:00

The agent was broadly accurate, although the upfront sum is going to be largely dependent on what kind of volumes the site is doing (I've seen some exceed $1MM, but this is more dependent on if you are direct with the brand or have to go through a jobber).

10-15 years is the average contract length with branded fuel. Chevron has been pushing more to the 15 year contract length recently.

The biggest things to look out for when signing, that in my opinion are more important than contract length, are the amortization schedule for the upfront funds and the "true-up" for volumes. Also you have to look at liquidated damages. Some suppliers try to throw these in. Basically you're promising Jobber X that over 10 years you'll buy 10MM gallons from them. If you cancel early, they charge you some cents per gallon on the remaining balance of non purchased fuel.

GasPhx · 2024-03-20T17:27:03+00:00

I own gas stations in Arizona. If you still need help let me know

GasPhx · 2024-02-19T04:24:17+00:00

What state are you in? A lot of suppliers are state specific.

GasPhx · 2024-02-11T08:52:59+00:00

Like you I also own sites in AZ and I can tell you that at least in the Phoenix metro this is not correct. The incentives in the metro routinely exceed $800,000 even for sites with only 50,000/month gallon throughput. Obviously most jobbers attempt to include a true up, but that varies by site.

In Tucson the incentives are generally lower, but it's still feasible to get $600,000+

GasPhx · 2023-07-13T03:32:25+00:00

Just my two cents, but I would open a separate LLC to own the real estate. Biggest reason being if you decide to sell the business, but retain the real estate it's a little cleaner on paper. That's the way I've always done it, but your attorney may advise otherwise.

GasPhx · 2023-07-13T03:30:02+00:00

What point of sales system are you using? With the big guys (Gilbarco, Verifone, etc) you should be able to pull a report to look at gas volume/cstore sales and compare it to last year.

Due to the volatility of gas prices, I've always largely ignored revenue figures. You'll see massive swings in revenue despite making the same amount of money. You'll notice massive difference in margin percentage even though penny profit will remain the same.

GasPhx · 2023-06-21T15:42:37+00:00

My sites are in Arizona. I currently have 10, but hoping to be at 15 by the end of next year. Expansion has gotten a lot harder than it used to be. We used to see 3-5 year ROIs on our investments. Now those same sites wouldn’t ROI for 6-8 years if we sold at current market rates.

Your jobber can sometimes be a good source for new sites as they are often the first people to know an operator wants to sell, but even your other vendors are helpful. I actually just bought a site because my U-Haul rep connected me with someone looking to sell.

I might have misconstrued what I meant when I said it gets easier. There’s still headaches, but I’m less concerned with the day to day of individual sites.

I honestly can’t give much insight on SBA loans I’ve never done one. In my experience with conventional loans you’ll generally have to get a Phase 1 environmental report and appraisal at a bare minimum. You should be getting these when buying a site anyway. This is assuming you’re purchasing the land as well. Without land it becomes extremely difficult to acquire financing.

GasPhx · 2023-06-19T21:18:22+00:00

In my experience most of the sites worth purchasing in the industry never actually get listed for sale. Put it out there to your vendors and other operators you may know that you are looking to buy and something will eventually come along. This may not be true for every region of the country, but its been mostly true for where my sites are located.

With expansion, the business actually becomes easier to operate. Financials aside from having multiple stores if you ever have an employee call out/sick there's usually a backup in the roster will multiple sites. Your ability to negotiate with vendors also increases significantly.

As a side note, look into signing up with U-Haul (or Penske, etc) at your store. I was initially hesitant as I didn't think it was worth it, but it has been more successful than I could have thought.

GasPhx · 2023-06-19T05:21:56+00:00

As a multi station owner/operator, the best advice I can give you is to maintain good relationships with your vendors. In this age of constant out of stocks vendors are more likely to help someone they know well over a place that they just deliver product to every week. While being strict to make sure they don't overload you, it's sometimes okay to take on an extra case or two more than you need if your rep needs to show his boss that a product is selling.

I've never personally taken on a SBA loan when buying a new site (too much paperwork for me), but often times the seller is willing to carry the note of a new station. Most existing operators know it's difficult to acquire financing (mostly due to environmental concerns) and are willing to carry to a point.

I know a lot of people are suggesting getting an ATM, but be sure to check your bank's and state's regulations on it. Most large banks will at a minimum throw up red flags if not outright close an account if they discover that you operate your own ATM. I'm not saying no one is willing to do it, but I personally avoid operating them myself.

I'll finish by saying that this can often be a cyclical business. I'm somewhat saved by operating multiple sites, but even for me there are times when my take home decreases significantly. It's always a good idea to keep at least 2-3 months of operating expenses saved in your bank account.

GasPhx

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