Westborough Gas Stations
The town of Westborough, with its four unique neighborhoods, is a great town for a wide variety of residents. The town itself has a population of 18,000 individuals, and since Boston is only 33 miles away, it is also an excellent town for professionals that want to get away from the city at the end of the workday. In fact, many of the town's populace work in the tech industry, and as a result, many commute to and from work on a nearly daily basis, which is why the town is a fairly strong area for investors looking to make a profit off of a service station investment.
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Purchasing and Leasing Gas Stations
There are two ways in which to invest in a modern service station:
- Leasing the Station – By far, this is the method of acquiring a service station that will require the least work on your part. To do this, you'll simply have to find an owner that is thinking about renting their space out to a tenant. This is an excellent way for someone that is thinking about purchasing a property to feel out how a specific station performs. If it doesn't work out, you can simply break the lease and find another property. Additionally, many leasers opt to sell corporate gas at their leased stations. These brands make receiving gas, managing employees, and setting promotions very easy, and you'll have a strong support system as well.
- Purchasing the Station – If your station is more independent, there is no type of service station ownership that grants more control than purchasing the station outright. When you purchase, you'll be able to decide on which suppliers you work with and you'll be able to set promotions as well.
While you will require capital when you opt to purchase, if you have good credit, you can seek out fairly competitive financing. One of the best parts of this is that you'll be able to have a fixed payment rate so that you will know precisely what your monthly costs are.
Buying a Service Station with a Convenience Store
At Boston City Properties, we always suggest that our clients purchase or lease service stations that include convenience stores. While this may seem strange, it is crucial to understand that service station owners do not typically profit off of gas sales. To put it into perspective, for every $50 in gas that's sold, more than $30 goes to the oil companies, another $7 goes to the refineries, and $6 more goes to the federal government. In fact, after everything is deducted, you'll make just about $1 of the initial $50, which is why you will need to supplement your income.
One of the most reliable ways to do this is to seek out service stations that have convenience stores on premise. Convenience stores are true moneymakers, and they also have a lot of overlap with the service station's business; in fact, gas sales can power your convenience sales fairly reliably.
For example, when a motorist pays cash, he or she will have to come into the store to pay, and when they are there, they have a higher chance of purchasing lottery tickets, coffee, or just a stick of gum, and these types of sales can be very profitable.
Neighborhoods to Consider for Your Investment
This town has four constituent neighborhoods that include:
- Adams / Ruggles Street
- Wessonville
- Town Center
- Nourse Street
If you're looking for a neighborhood that has highway traffic for commuters, then Ruggles Street is intersected by Interstate 90. That being said, there are plenty of areas in town that get a lot of vehicle traffic. If you're looking for a service station to invest, give Boston City Properties a call at 617-247-1933.
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gas stations