Gas stations have been a huge source of wealth for their owners as long as they have existed. That being said though, things have started to change in the last couple of years, making things a bit more complicated for those that are looking to open a new gas station.
That being said, if you are looking to open a gas station yourself, or if you are just interested in the topic, in this article – we are going to talk about the most important parameters that are currently relevant in this business, as well as those that are most important to think about when assessing the future for gas stations.
One of the most important changes when it comes to gas stations that are only going to get more drastic as time passes is commercialization.
Before, there were a couple of really big and prominent gas station brands that were more or less equally distributed and credible for the new gas station owners that wanted to start a new and successful business.
Nowadays, this is not the case. When it comes to opening a new gas station, it is much easier for new owners because, while big companies are still there, they are no longer making it impossible for small owners to get profits.
In fact, with a proper business plan and good marketing, any new gas station owner that is informed and committed enough can achieve success.
Now after we covered commercialization, let’s talk about how the rising number of new gas stations has affected this business sector in general.
Basically, when you have a gas station that works fine (is profitable) you are tempted to enlarge your business by building more stations, which can lead (sooner or later) to oversaturation.
Despite low oil prices, new gas stations are open every year but sadly, nobody opens them in places where people need them the most (areas where you can’t find a gas station for miles), they are usually open close to another gas station because people are used to come there for gas.
However, this odd situation leads again to oversaturation.
A new gas station owner needs to implement several marketing strategies to turn its business into a successful one.
While standing out in the crowd can be profitable for you on short term, on the long term, it can become more complicated because as I mentioned before, others will be tempted to open a new station near you, to lure some of your clients, which can decrease your profits.
Automation plays a big role
Another big thing that has recently impacted the industry immensely is automation. Today, gas stations around the world are starting to employ new strategies to maximize profits and lower taxes.
One of these strategies consists of gas stations without any employees whatsoever. Fuel is paid first and then your tank is automatically filled according to the amount paid. This way, the efficiency is maximized – everything is automated as much as it can be at this point. No employees are used, which creates fewer fees for employers, but it impacts the number of new jobs in the sector.
Alternative sources of energy
Last but not least, we need to mention the rise of the alternative sources of energy as they are impacting gas stations more and more. Lately, many people opt for electric and hybrid cars because they leave a far smaller carbon footprint, and as time goes by, we can only expect this trend to rise even more.
Eventually, all businesses tend to change as time passes, and if you are aware if this, you’ll be able to properly assess the required direction for your business in the future. Some things need to be changed from time to time, and it all boils down to doing the necessary research for every gas station owner to keep up with the changing society.