Writing a Gas Station Business Plan in Five Steps

Nancy Wagner reports:

"A business plan gives you a daily guide on how to run your gas station. It also comes in handy when you’re seeking financing to lease or buy a station and stock it with fuel and products...Describe the products and services your gas station will provide...If you want customers to come inside, explain what products you plan to sell...To increase profits, you might also want to offer mechanical repairs or a car wash...Discuss the market for opening a gas station in the area, and provide details about your competitors, including their pricing strategy, target market, strengths and weaknesses. Explain how there is a need for another gas station and how you will differentiate your station from the others...Develop a sales and marketing strategy that draws customers and keeps them coming back each time they need to fill their tank...Mention advertising food and beverages at the pump if you plan to sell products inside the station. If your station is part of a franchise, provide details on the marketing and advertising the parent company provides...Explain your background as an owner so investors know you’ve got the skills and experience to build a profitable station. If you lack experience, explain how the other businesses you’ve worked for or owned will help you make this venture successful. If you lack personal experience managing a gas station, find and detail the background of a manager to bring on board who knows the industry...Prepare financial projections to determine the startup costs of leasing or buying a gas station and making the pumps operational. Your financial documents also need to show the cost of required licenses, payroll, utilities and environmental services. Calculate the revenues you anticipate from the sale of fuel, automotive products and concessions in your revenue projections...Write the one- to three-page executive summary after you finish the rest of the business plan...Don’t leave out any weaknesses in your plan, such as the fact that there’s too much competition or not enough traffic in the area to sustain business, as investors usually discover these things. Then, they’ll wonder why you didn’t figure this out for yourself."