Gloucester Gas Stations

Gloucester, which is a city that takes up the majority of Cape Ann in Essex County, is a popular summer destination, which means that it is a great place for an investment, especially one in the gas industry. When the vacationers are combined with the 29,000 residents who make this city their home, traffic can get quite heavy in this area. In addition, Boston is only about 30 miles from the city, so residents are likely to commute on a daily basis, which means that they will need things like gas, coffee, and a newspaper.

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Purchasing and Leasing Gas Stations

When you consider investing in gas and service stations in this area of Massachusetts, you are going to need to consider how you want to invest. Do you want to start off by leasing property that you can back away from if profits are not as high as you want? If you choose this option, you will not have the final say in what happens on the property, but you will be able to get an idea of the neighborhood to see if the competition, the traffic patterns, and the community will be good for your investment.

If you want to purchase the property outright, you are going to be able to decide everything that happens at your business, so you can expand, change suppliers, and change your hours. Since many service stations cost a bit to purchase, you may not be making much of a profit right away, but you will be able to rent out parts of the station to help increase profits without hiring more help. The more services that you offer, the more likely you are to draw in more customers. In addition, if the service station does not seem to be working out for you, it can easily qualify for a 1031 exchange, which allows you to swap the property that you own for another. For more information about this, call Boston City Properties at 617-247-1933.

Opportunities for Expansion

Expansion for any business is a great way to increase cash flow, and this type of business is no different. Gas alone is not going to bring in a lot of profit, so you will want to consider adding a convenience store to your location. This allows you to have a bathroom that is located inside of the building, which is more appealing to travelers who are looking for a place to stop, fill the tank, and get snacks and drinks for the road. Inside, you can also sell cigarettes, lottery tickets, drinks, coffee, snacks, and even warm food that can be cooked on a grill if you have space.

In addition to a convenience store, there are several other ways that you can expand your business. This includes things like a service station where residents who live in the area can get their oil changed, their windshield wipers replaces, and their tire pressure checked. You could also consider adding a car wash to the location as well so that when customers are filling up, they can drive through the carwash without much hassle.

Locating Your Investment

Gloucester is a town that is growing quite a bit, which is mainly due to the close proximity to Boston, but with this growth, you can expect residents of the community to travel more, which will bring them to gas stations in the area. Boston City Properties is familiar with this area of Massachusetts, which means that one of our real estate agents will be able to locate an investment opportunity for you quickly. Call us today at 617-247-1933 so that we can get started.

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gas stations