Swansea Gas Stations
If you are looking for a good area to invest in the Providence Metro area, then Swansea is a great option to consider. It is about 45 miles from Boston, but it is a town that is located a mere 12 miles from the town of Providence, Rhode Island. Many residents who live in this town use their personal vehicles to commute to both of these cities, but the main reason that this is a great location to invest in a gas station is that it is bisected by Interstate 195. In fact, there are two exits off of the highway that serve this mid-sized town, which means there are some great locations for service stations.
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Purchasing and Leasing Gas Stations
When you purchase a service station, you are going to need a pretty large down payment because most stations cost more than one million dollars. That being said, you will have full control over what happens at your location. You will be able to decide if you want to expand your services to include things like a convenience store or a repair shop. You can select promotions to run that you think residents of the community will like, which will bring in more profit. You can choose the supplier that you use for gas so that you are not losing the little profit that you do make from each gas sale. In addition, if you choose to expand, you can lease that part of your store to help bring in more money if you'd like instead of running it yourself.
Leasing is a bit easier to manage when you first invest because you will not need to put down a large deposit, and you will also not be required to pay taxes because you do not own the property. Leasing is a great way to get to know the neighborhood's needs and the traffic patterns in the area so that you can decide whether this is a good location for your business. If the business is not as profitable as you expect it to be, you can always back out of a lease without a big loss.
Buying a Service Station with a Convenience Store
Imagine that you are on a road trip and you need to get gas, but your family is hungry as well. A service station with a convenience store is going to be more appealing than one that only has gas. This is often the case, so if you want to bring in vacationers who are passing through the town, it is important to appeal to their needs. Most who stop will fill up and grab snacks and drinks for the road. If you have space, a grill where you can make some hot food can be a great idea to consider as well.
Neighborhoods to Consider for Your Investment
Since this is a town with a population of about 16,000 residents, there are only three neighborhoods to consider in the area, which include:
- Town Center
- Barneyville
- Ocean Grove
If you are looking for a great location for your station, Barneyville is going to be the best neighborhood to consider because it has a long stretch of I-195 as well as a few other state routes. However, Ocean Grove is on the water, so if you want to catch the beachgoer traffic, that area may be worth considering as well. Regardless of the neighborhood that you select, Boston City Properties knows the area and the best investment options to consider, so call 617-247-1933 today for a full listing of great opportunities in the area.
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