Winchester Gas Stations
Winchester is a suburb of Boston that's only about eight miles from the city, and as a result, many of the town's residents commute to and from Boston on a daily basis. The town itself also has a high percentage of college-educated professionals among its population of more than 22,000 residents. While there are more than a few residential and commercial investment opportunities in town, an intrepid investor can make significant gains by investing in a gas station in the areas of town with the most vehicle traffic.
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Purchasing and Leasing Gas Stations
Are you considering this type of investment? These types of business opportunities can be quite lucrative, but it's also important to understand that you don't have to purchase your new service station, you also have the option to lease it as well. Which of these you pick will definitely depend on your business style, your patience, and the local market, but let's take a look at what makes each choice unique.
The first thing that you should know about purchasing a service station is that it takes patience. This is a massive investment, and you're most likely going to need a loan and excellent credit in order to make a purchase. With that well in mind, you may also end up effectively buying a job because over 59 percent of the service station owners in the country actually run owner-operated stations. Also, with mortgages, taxes, and insurance, it's going to take you a few years of daily operation to make a profit.
With all of these considerations in place, owning a station is also one of the more independent investments that you can engage in; you'll decide all aspects of the station's daily operations, and working with suppliers, employees, and weekly promotions will be part of your daily life. When you're ready to retire, you'll be able to sell your station at a sizeable profit or you can choose to lease it out as well.
A purchase can involve years of commitment, which is why some owners opt to lease instead. Leasing is fairly freeing, and you won't have to worry about mortgages, taxes on the land, or insurance costs. In fact, even the equipment and the tanks at the service station will be the responsibility of the owner.
In fact, if you opt to lease and go with a corporate brand, you can end up having a very supported experience since you'll have your suppliers, promotions, and expansion businesses already lined up by the company.
Buying a Service Station with a Convenience Store
If you're going to be making a profit, you're going to supplement gas sales with another kind of business because the margins on gas sales are low for the service station owner. One of the most lucrative kinds of business that you can have at your service station is a convenience store. This is due to the fact that motorists use these places to get lottery tickets, coffee, and/or snacks when they get gas, so if you're in the market for one of these businesses, always try to purchase or lease one with an attached convenience store.
Neighborhoods to Consider for Your Investment
Winchester, MA, as a smaller town, only has five neighborhoods in which you can open your service station. These include:
- Church Street
- Town Center
- Cambridge Street
- Washington Street
- The Highlands
Of all of the neighborhoods, Washington Street has the easiest access for commuters to get on I-93, which means that this is one of the most optimal locations for a service station. That being said, all of the other neighborhoods have several routes traveling through their areas as well. This means that they can be capitalized upon also. If you are wondering what's available in town, Boston City Properties has a list of thousands of available service stations throughout the state. Give us a call today at 617-247-1933.
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gas stations