Picture this: You’re driving home when you realize your car needs fuel and you could use a bite to eat. There are several gas stations ahead but their prices are relatively the same. So, how will you choose which one to visit? The answer is the gas stations that have clearly adapted to survive in this increasingly competitive industry.
Like many industries, the standards for a successful gas station and convenience store have risen significantly as of late. In order to attract visitors, today’s gas stations must have an above average amount of pumps, an expanded convenience store selection, and an updated appearance. All three changes might not be so difficult to implement were it not for the notoriously low profit margins of gasoline sales. You’d think that rising gas prices would make these numbers go up, but this is not the case. In fact, higher prices are more likely to steer visitors away, especially if there is nothing about this particular gas station that makes them want to stop by.
This is where the need for additional funding comes into play. Gas stations that lack the three aforementioned features will eventually be eaten up by the competition. Even the lowest prices in town can be easily overshadowed by outdated and/or insufficient pumps and signage.
Fundture Capital has many years of experience providing Small Business Loans for Gas Stations & Convenience Stores. We can provide all types business lending products. Contact us today for your FREE business funding consultation!