Watertown Gas Stations
Watertown, which is a city in Middlesex County with a population of about 35,000 residents, is a historic city that is well worth investing in. It is only about eight miles from Boston, which means that residents who live here will most likely commute to the city by car, especially since the Massachusetts Turnpike is located right outside of the city.
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Purchasing and Leasing Gas Stations
When you decide to invest in a service station, you are going to have two options to consider before you decide how you would like to proceed with the investment.
- Purchase – Purchasing property gives you free reign when you want to do something with the property, which means that you can expand when you want. Many owners consider adding a repair shop or a convenience store to the property to help bring in more customers. If you have enough land to work with, you can even add both expansions on to the station. You will also be able to choose whether you want to manage the expansions yourself or have someone else in charge of that portion of your business.
- Lease – When you lease the property, you are not fully in charge of what goes on, but if things go wrong with the equipment, you are not responsible for fixing it either, which can end up saving you a ton of money. When you decide to lease, you can decide how long you want to invest into the business, so if you are unsure that the location is going to be profitable, you can opt for a short-term lease so that you can easily back out of it and find a better location to invest in.
Buying a Service Station with a Convenience Store
Convenience stores are typically the most profitable part of a service station, so if your business does not have one, that is the first expansion that you should consider making. Gasoline profits will only be about one to two cents per sale, but if you can entice customers to come inside by posting sales on the gas pump, you can increase your profits by quite a large margin.
In addition, service stations that have indoor restrooms are far more attractive for travelers than stations with an outdoor restroom because they provide safety and are often times much cleaner because an attendant who works in the store can keep an eye on the condition of the bathroom. When customers who are traveling come in to use the restroom, they tend to make more purchases in case they need a drink or a snack further down the road.
Neighborhoods to Consider for Your Investment
Watertown is an area of Massachusetts that is full of urban sophisticates, which means that they tend to work in the city and love to spend time traveling. For this reason, investing in a service station in the area can be quite profitable, especially if you choose the right neighborhood. In this area, you will find:
- Common Street
- City Center
- Lexington Street
- East Watertown
- North Beacon Street
- Bemis
Out of all of the neighborhoods in this community, the ones on the southern part of the city such as Bemis and North Beacon Street are the areas that are closest to the major highways in the area. They are also relatively densely populated area, which means there will be more foot traffic as well, so make sure to have a convenience store in this town to provide for residents that take public transportation. For a full list of the investment properties that are available here, call Boston City Properties today at 617-247-1933.
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gas stations