Halifax Gas Stations
Positioned about 33 miles from Boston, the town of Halifax is a beautiful suburban getaway for those that want to retire away from the hustle and bustle of the big city at the end of the day. Halifax is a smaller town of only about 7,800 people, but many of these people choose to commute in the early morning, which means that investors can make a good profit off of investing in a gas station in the area.
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Purchasing and Leasing Gas Stations
If you're going to invest in a service station opportunity, then you'll have two primary options:
Purchasing the Property – For those that choose to purchase their service station, there will be more direct control over the day-to-day running of the investment. In fact, this type of investment is often called buying a job by the many businesspeople because most owners end up as operators as well.
With that said, it's always a good idea to be cautious when purchasing one of these stations because there are several considerations to take into account like the condition of the tanks, how optimal the location is for business, and whether there's supplier support that's transferable from the old owner.
Leasing the Property – If you're opting to rent, you won't have to have as spotless credit as you would need for a purchase and you would also need less initial capital. There's also a much higher sense of freedom due to the fact that you are just leasing a preexisting service station.
If this sounds like something that you'd consider, there are still considerations that you must take into account. First, if the station is already branded, you'll have to adhere to the brand's promotions, use their gas, and maintain the brand's image. That being said, running a leased business like this also provides you with unique corporate support and brand recognition as well.
Opportunities for Expansion
The simple fact about owning a service station is that you won't make a whole lot of money by just selling gas. In fact, once you take out all of the percentages of the sale that go to the oil companies, refineries, to processing, and the delivery companies, most owners are left with about one or two percent of the sale's profit. This is the reason why you'll seldom find a service station without an ancillary business. In fact, these types of businesses can be so profitable that they significantly outweigh the performance of gas sales.
There are many types of expansion businesses to consider. In a town like this one where there is a high number of daily commuters, owning a service station with a convenience store is almost essential. With a convenience store, daily motorists will be able to purchase their lottery tickets, their coffee, and their snacks for their trip, and the sales of these items can provide a significant profit.
You can even opt to serve food in a place like this. Currently, the made to order grill is becoming increasingly common in service stations, and tapping into this style of business can definitely serve your gas customers. Finally, just about any auto-related business can help you capitalize. This can include car washes, auto repair shops, and auto parts stores. Car maintenance is a big business that's relatively easy to cash in on.
Locating Your Investment
Are you thinking about investing in one of these types of property? Service stations can be very strong investments, but it helps to have some support so that you can find the ones that can make the most profit. Give Boston City Properties a call at 617-247-1933, and we can help you get started.
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gas stations