Foxboro Gas Stations

With 17,000 residents, the town of Foxboro can certainly be worthy of an investment. The town is only about 22 miles from Boston, which means that many of the residents of this suburban community choose to commute to and from the city on a near-daily basis. As a result, one of the most profitable potential investments that you can find in this town is the simple gas station; these facilities provide a vital resource, and if you know how to optimize this type of investment, you can make a lot of money in a Boston suburb like Foxboro.

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Purchasing and Leasing Gas Stations

Typically, when you're opting to invest in a service station in a town like Foxboro, you'll have the option to either rent or buy the station outright. Which you pick will depend on a bevy of factors that can include on-hand capital, credit score, and your patience, but there are a wide variety of reasons to pick either. Let's take a look at some benefits of each as well as some considerations that you should take into account before you select any particular service station:

Purchasing

If you're opting to purchase your service station outright, then there are more than a few advantages that include having more control over the day-to-day operations and the ability to lease part of your space to other business like convenience stores and auto repair shops. That being said, you'll want to ensure that you're taking the right steps like:

• Ensuring that the tanks are in good working order.
• Ensuring that the previous owner's supply contract is transferable.
• Researching the competition in the area.
• Getting performance data from the previous owner.

Leasing

Leasing is a great option if you have limited investment capital and if your credit isn't good enough for a business loan of this type. Also, there is far less responsibility when you lease because you won't have to worry about daily maintenance of things like the tank or the various equipment on the premise of the service station. When leasing, always consider:

• Whether it is branded or unbranded. If you're opting to run with a branded station, understand that you won't have control over certain things like promotions and supplier options.
• If there is a canopy over the pumps to protect them from the elements.
• Whether or not the area is easily accessible by cars and trucks.
• A long-term lease. This way, you can lock in a relatively stable rent for a longer period.

Opportunities for Expansion

These types of investment can earn you a sizeable profit, but it's important to understand that you'll most likely need to add on an expansion or two to optimize your earning potential. In many cases, things like convenience stores, garages, and carwashes can generate hundreds of thousands of dollars worth of profit in a year, which can go far to help you capitalize faster on your investment.

• Car Repair Centers and Tire Shops – Cars require maintenance and repair, especially now when cars have a tendency to stay on the road longer than in previous years. One of these establishments can help you capitalize because of the fact that things like oil changes, tire rotations, and repairs will be needed by residents of the town.
• Car Washes – During the months where there's more pollen and stronger weather, car washes can be major moneymakers. Also, the fact that these can be mostly automated can increase your profits.
• Convenience Stores – This is the most common expansion, and having the ability to provide your customers with lottery tickets, snacks, coffee, and other drinks can ensure profitability.

Locating Your Investment

Wondering where to begin? Call us at Boston City Properties at 617-247-1933 today, and we'll use our vast listings of service stations throughout the state to help you find your next investment.

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gas stations