Although fuel prices are shooting up, we all know that it is one of the most essential commodities there is.
And in the absence of a proper alternative people are forced to use fuel. And if you have the right experience and knowledge about running a gas station you must have thought of having your own gas station business at least once.
Reading sample business plans will give you a good idea of what you’re aiming for. Also, it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.
We have created this sample for you to get a good idea about how perfect a gas station business plan should look and what details you will need to include in your stunning business plan.
In October 2021, the monthly retail fuel sales in the US amounted to a whopping 55 billion dollars, significantly higher than the past month. And although the industry experienced a slowdown due to the pandemic, it is recovering to its pre-pandemic levels at a fast pace.
The major reason for the growth of the fuel industry is increasing scarcity, rising prices, and lack of an alternative mode of conveyance.
And although there might be no impact in the shorter run, gas station owners should keep in mind that alternatives to fuel might come up in the future and they’ll need to prepare their business for the impact.
It can either be by an exit strategy or by preparing their business to serve those alternative methods of transport.
Things to Consider Before Writing Your Gas Station Business Plan
Pick a legal structure for your business
The legal structure of your business decides the amount you’ll pay in taxes, the amount of paperwork you’ll have to go through, and the liability on your assets. Hence, it is essential to go through all of your options and choose the one that fits the best for your business.
Get the necessary licenses and permits
The next step would be to get all the necessary licenses and permits to operate a gas station. This helps you stay on the right side of the law and avoid unnecessary legal hassles. It also helps you avail yourself of any possible benefits that the permit holders get from the government or private institutions.
Get a gas supplier contract
A gas supplier contract is essential to set up your business. It makes having a proper supply in your gas station easier. It also gives you a chance to go through all the possible options of suppliers for your business and choose the one that can offer you the highest profitability margin.
Select a good location
Location matters more than anything for you as a gas station owner. A gas station located on a highway, around a residential or commercial area has a higher chance to be successful as these are the most convenient places for people who’d want access to a gas station. And depending on your location you can also decide the additional services your gas station would offer to make it more profitable and a preferred location for your customers.
Chalking out Your Business Plan
If you are planning to start a new gas station, the first thing you will need is a business plan. Use our sample Maxwell – Gas Station Business Plan created using Upmetrics business plan software to start writing your business plan in no time.
Before you start writing your business plan for your new gas station business, spend as much time as you can reading through some examples of services-related business plans.
After all, having your business gives you a sense of independence and can turn extremely profitable too.
All you need is a gas station business plan to help you get started the right way.
Gas Station Business Plan Outline
This is the standard gas station business plan outline which will cover all important sections that you should include in your business plan.
- Executive Summary
- Keys to Success
- Financial Summary
- 3 Year profit forecast
- Company Summary
- Startup Summary
- Startup cost
- Products and services
- Market Analysis
- Industry Analysis
- Market Trends
- Market Segmentation
- Strategy & Implementations
- Advertising Strategy
- Pricing Strategy
- Sales Strategy
- Sales Forecast
- Operations Plan
- Service Functions
- Administrative Functions
- Financial Plan
- Important Assumptions
- Brake-even Analysis
- Projected Profit and Loss
- Profit Yearly
- Gross Margin Yearly
- Projected Cash Flow
- Projected Balance Sheet
- Business Ratios
After getting started with Upmetrics, you can copy this sample business plan into your business plan and modify the required information and download your gas station business plan pdf or doc file.
It’s the fastest and easiest way to start writing your business plan.