Groveland Gas Stations

Many investors feel that a city environment with a large population is going to be the best option when you are investing in a gas station, but the truth is that any small town can do just as well when there are highways and heavily traveled roads nearby. Groveland, which is located in Essex County, Massachusetts, is a town that only has a population of about 6,500 individuals, but both I-95 and I-495 can be found nearby. These highways extend well past this town and are often used by travelers with an east coast destination in mind.

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Purchasing and Leasing Gas Stations

There are benefits to purchasing and leasing a service station, so before you decide to go one way or the other with your investment, you should consider both options thoroughly.

• Leasing – Leasing gives you more freedom to decide if this is a good investment for you. Your initial deposit will be less than what it would be to purchase the same property, and you will not need to worry about repairing equipment because this will be the responsibility of the owner.
• Purchasing – Purchasing the station means that you will be able to choose the type of expansions that you want to make, choose the hours that the station is open, and the type of promotions that you want to run unless you invest in a franchise.

Opportunities for Expansion

A station that sells gas alone can be profitable, but the profit margin will be much larger if you are able to expand on the services that you offer. This can include a wide variety of different services, but some of the most common that you will find at competing service stations in the area are:

• A Repair Shop – This will provide a service to the community where residents will come to your location to get an oil change, an inspection, or new wiper blades. If you do not have space for a full-fledged repair shop, then consider selling some automotive necessities that motorists may need.
• A Tire Shop – This service is designed for residents or travelers who find themselves with a flat. This can be a great way to increase your sales, especially if you have a location with a convenience store because customers will browse while they wait.
• A Car Wash – A simple car was is a great way to pull in some extra cash; simply ask customers at the pump if they would like the service, and when they are finished pumping gas, they can simply drive through the car wash.
• A Convenience Store – This is a great way to increase the profit that you are making at this location. In fact, if space permits, building a bathroom inside the store is a great way to get customers to take a look at snacks and drinks for their travels, especially if they are waiting on someone else to use the restroom.
• A Grill or Made to Order Food Service – Food can always be a draw, so if you have space, a grill that serves hot dogs, sandwiches, and other things could be a reason that customers stop at your store instead of down the street.

Locating Your Investment

Groveland is a great small town to invest in, and since it has been experiencing quite a bit of growth, this area has quite a bit of option worth considering. When you are looking into a new investment, it is important to have a real estate agent backing you so that you can make an informed decision that will be profitable for your portfolio. Boston City Properties has agents that are well versed in the real estate options in this area, so give us a call today at 617-247-1933.

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gas stations