Franklin Gas Stations

The town of Franklin, Massachusetts, which is home to about 33,000 individuals, is located in Norfolk County. This town is positioned between Boston and Providence, Rhode Island, and both of these locations are easy to reach using Interstate 495, which is a major highway in the area. Public transportation is an option for residents in this town, but many prefer the comforts of their own personal vehicle when traveling to work, which means that this town is a great place to invest if you are considering getting into the gas and oil business.

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gas stations

Purchasing and Leasing Gas Stations

When you are looking for a gas station to invest in, one of the most important things to consider is whether you are going to want to lease or own the station. If you feel that the asking price is too steep, leasing the same space will help decrease your initial investment, which means that you will be able to get a feel for the business before committing to it for the long-term. Once you lease the station for a few years, you will have a better idea of what customers in the neighborhood are looking for, the traffic flow in the area, and the best hours for the station to be open.

If you decide to purchase a service station, you are diving into the business head first, but sometimes that can be quite beneficial for you as the owner. First, you need to make sure that the land, the station, and any expansions that are part of the station are included in the sale. The last thing that you need is to find out that you have to spend more to get everything that you wanted to invest in initially. Once you own everything, you will be able to call the shots when it comes to hours, promotions, and services. If you want, you can even rent out some of the service areas that your business offers like the repair shop. This allows you to keep the profits without hiring extra people to manage that area.

Opportunities for Expansion

When you run a service station, there are a lot of things that you need to consider to increase your profits. In most cases, gas alone is not going to provide much cash flow for your business, so you are going to need to add additional opportunities to make money to the property. This can include a car wash, which should be a simple drive-thru option that customers who are in a hurry can use. A repair shop is a great option to consider, especially so that you can offer inspections and oil changes to local residents.

One of the best ways to increase profits is to add a convenience store onto the station so that customers paying with cash may be enticed to make more purchases as well. In fact, even those who use a credit card t the pump will be enticed to come inside, especially if you post promotions for food and drinks at the pump for them to see. In addition to having drinks, snacks, and other common things found at a convenience store, having a grill can be a great option as well.

Locating Your Investment

Finding a service station that is worth investing in can be challenging, but not when you have a real estate agency backing your decision and helping you find an investment that will be profitable. Boston City Properties knows the area, so call us at 617-247-1933 today so that we can get started helping you find your next investment opportunity.

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gas stations