What value is there in a petrol station? You go there to fill up with petrol or diesel, check the water and oil, tyre pressure; and what else? These days petrol stations are more than just about getting your vehicle seen to, they have become little one stop shops. And the best part is that they are open 24 hours a day, seven days a week! The only time you have any “downtime” problems is when the petrol or diesel tankers are there to top up the pumps.

Owning or leasing (by becoming a franchisee) a petrol station can be very lucrative as long as you are fully aware of what it entails to run a petrol station and of course, in which area you intend to own or lease the petrol station. For example, running a petrol station out in an isolated area might seem like a good opportunity as there is no competition, but if you do not have the required numbers coming through the station you will be running at a loss. Another example is opening a petrol station in a small coastal town – you will be mostly relying on tourists to provide your income.

There are certain criteria that should be met in order to run a successful petrol station:

  • Location – be in an area that will have constant traffic coming through the station
  • Service – staff must be highly trained to not only fill your vehicle but to offer assistance in checking oil, water and tyre pressure and of course, be friendly and courteous at all times
  • Access to grocery items – selling needed grocery items, besides the usual sweets, chocolates, cold drink and crisps; is a bonus as customers can buy the essentials at any time
  • In-store take away – being able to offer food like hamburgers, sandwiches, boerewors and pap will definitely add to the appeal of the station
  • ATM’s – let’s face it, we are all guilty of not having enough cash on us when needed so being able to offer customers assistance in that regard is always helpful

More than just a filling station

Petrol stations add an important aspect to our lives in the form of convenience. How many times have we forgotten to buy a needed item at the shops and have had to go to the garage to get it? Taking into account the criteria that is needed to run a successful petrol station, you will definitely see the financial returns. Petrol stations are like fast food places: easy to get to and quick!

If you are considering investing in a petrol station but feel that you need more assistance in this regard, then you need to chat to the experts at The Property Partnership. From leasing property to property valuations, The Property Partnership will be able to advise you. To find out more about the services on offer through The Property Partnership, visit their website www.property-partnership.co.za . Having your property assessed for insurance purposes – how important is it?