Have you decided to take that bold step by owning your own business? Have you decided which type of business you want to be in? Starting a business is very risky and making sure that you choose a business that will give you great returns and that is a good investment isn’t that easy. If there is one profitable business venture that you can embark on, that would be owning a service station. After all, everyone that owns a vehicle will need to put petrol or diesel in their vehicles and having a one stop shop with your garage will bring in more clientele. Owning or leasing commercial property, especially in the service station industry, can be very profitable.

Starting your service station venture

What is a service station meant to provide? A service station is there to provide various types of fuel products to motorists including petrol, diesel and liquid petroleum gas. These days’ service stations offer more than the purchase of fuel products with the added convenience store element retailing confectionery, cigarettes, magazines, various food products, groceries, cold drinks, milk and many more. Niche add-on businesses are also on the rise meaning that the service station could have a fast food outlet, coffee bar or bakery sharing their premises. Doubling up is a key facet to business success as any modern service station owner is also a forecourt retailer.

This sector is almost 100% defined by its location. Motorists low on fuel on long road journeys don’t have the luxury of choosing an independent over a name brand service station. A well located accessible service station on a busy highway will turn over high revenue. As they say – it’s a captive market!

The most secure owners own all their pumps and tanks themselves but this is not conventional, commercial property leases are much more common. Every petrol station is unique but they all need to provide a reliable service, especially ensuring that the petrol tanks are filled on a regular basis. A service station will also be governed by legal requirements and the owner should purchase the necessary liability insurance. This can be a highly individual business to run and adhering to health and safety regulations is a must.

Leasing or owning property in the commercial or industrial sectors need not be complicated if you have the right company by your side. The Property Partnership is geared to assist you with the future purchase or leasing of your property and the highly trained staff at The Property Partnership will make sure that you get the best advice. To find out more about how The Property Partnership can help you on your journey, visit their website www.property-partnership.co.za