Running a gas station as a business is a good investment?

gas station business investment

It really depends upon you. Even the best business investments can go south if you lack business sense or have no plan.

I'm not "in" the business, though I've pumped gas before (for 3 weeks).

I say YES!!! It is certainly a good investment & I wish I had the money to open one myself.

You have a product that will be in demand for the foreseeable future. Oil companies have taken many steps to block viable alternative modes of power for cars by buying the patents for all kinds of useful things that will not see the streets because the oil companies want to sell us oil, NOT cheap solutions and good environment.

Aside from that, you need to see beyond the gas pump. That is only the beginning. There is home heating oil. If you have a garage you can sell lube jobs & such $$$. Beyond that, there is the option to begin a transportation company of some sort (bussing, cabs, trucking, whatever . . . ) and be able to have a massive tax write off for filling your own tanks with your own gas!

Add a car wash!

There are all kinds of possibilities, but you have to plan them and have some business sense.

I throw one consideration out there for you with getting started (aside from location), a possible unplanned expense.

If the place you purchase to set up shop has existing underground tanks, make sure you have them inspected for leaks because you will be liable for environmental cleanup and also have to fix or repair the tanks (big project either way).

If they are ok, know also that you should have them properly cleansed if they have been sitting empty for a good while because "something" is likely to have contaminated them (possibly water from condensation, or something else). You don't want to develop the reputation of having bad gas. Once the tanks are normally working, cleanliness shouldn't be a concern.

no you have the possiblity of being robbed alot and gas prices are too high to open a gas station at this time.

well,i would suggest being a corn farmer.lol

Well im guessing this comes from the sudden increase in gas prices? its not the indivual owners that make prices go up and down, it the wholesale suppliers, the main reason they give is a low supply but high demand, a owner of one gas station was on fox news and said he got charged 20c more a gallon so he had to increase his prices 20c a gallon, he only makes 6c a gallon because a portion of his making goes to more fuel to run the business and the rest is taxed by the government, and with all that going on in iran and iraq, they have most of the oil/gas we use, we arent in there good books right now, but if we leave there government may collapse and the taliban who may take over will also charge us so much for the fuel they provide, or turn the tap of if we dont pay, its a dodgy game, unless you know the ins and outs by experiencing it first hand, i wouldnt mess with it.

Ya yes.....I feel so...as the oil price is changing everyday...its not decreasing it increasing.....if you need to buy and stock it in your bunk...as the price increases U can sell the gas as the current price (% of profit + increase in oil price)

My uncle ran a gas station business and he had problems with employees stealing from him.

He would get robbed by people at gun point during the middle of the night.

He kept complaining that his insurance was too high because of all the thefts.

His former employee also sued him for sexual harrassment.

He also had to work shifts for dead beat employees.

It seems like a lot of head ache to me.

They say in retail its all about location, location, location. Thats the way it is in the gas station business too. The station owner doesnt make much on a gallon of gas. Its the other stuff they make money on. Servicing vehicles, selling food and drinks and being a distributor "jobber" selling gas to other stations. So, most of it is about doing a volume business.