It is one very competitive market when it comes to finding a gas station business and convenience store for sale, for every store there are 10 willing buyers out there, so you have to fast, decisive and ready to sign on the dotted line once you find one you like.
There are few ways to go about in finding a gas station business and convenience store for sale. But do remember not every one of them you find is money making ones. The theory is if it is making money than why are they selling it? Well, there might be some very good reasons, so you have to really be a good listener and use your judgment and some checking around to see if they are telling you the truth as far as why they are selling it. One point to remember there may be couple of key components to the asking price of a gas station business/convenience store like price for the real estate (if land is included in the sale), the “goodwill” part aka the “blue sky” money and lastly the cost of inventory at the day of sale, meaning the merchandise and gasoline in the tank at cost the day you take over the store. I will cover more on this topic in future blog posts.
The ways to find one for sale:
1. Through local business brokers, you can check the local phone book under real estate and find business brokers. There are few nationwide companies like (names).
2. Through local realtors. Most realtors have a commercial wing where they list businesses and commercial properties for sale. Best to contact a reputable R/E company and ask to speak to someone at their commercial department.
3. Through local Newspaper “Businesses for Sale” ads.
4. Through the web. This is my 2nd choice to find one to buy after the local business brokers. There are many online business broker and commercial listing sites throughout the web.
One site may interest you which pulls all MLS listing from all local R/E companies in essence becomes a one stop shop call loopnet.com. You can find anything and everything commercial for sale in any locals anywhere.
You can also try bizbuysell.com this one only pulls listings from business brokers around the country and not from real estate companies.
There are few specialty sites that deal only with gas station business and convenience store for sale and nothing more. One prime example is NRC.COM
There are few more localized specialty brokers/sites that you may find one more suitable for your city and state. One example would be gastationusa.com which is a site for state of Florida only. Similar to that you May find similar sites in your state.
Last but not the least by all means, my favorite way in finding a gas station business and convenience store is how I got into this business 18 years ago which was by contacting the local oil companies that supply fuel to the gas stations around town. They also maybe the ones own some of those stores. So it is a good idea to find what local oil companies aka jobbers are in your area. Typically is a small to mid size city there may be anywhere from 5-15 jobbers representing from Exxon to Shell and all in between. Keep in mind that Some of them maybe representing more than one fuel brand.
The way I did it was I called a few local jobbers and asked for an appointment with one of the key person there, once in their office explained that I was in the market to find a gas station that I can operate and make a living out of it. Remember to be very polite yet be very professional as they are not your business brokers but they are probably the owners of big oil jobber ships. Your goal is to establish the fact that you are an honest hard working individual and you are willing to work, if they like you they may help you find a store and you can have a business for very little money.