Is starting a gas station business a smart investment? It was for Paramjit Bhullar, who’s grown a $1 million investment into $37 million in yearly revenue. We’ll hear his insights on how to open a gas station in this interview.
Parm and his business partner had more than 15 years of experience in the retail industry, along with a shared passion for small business ownership. He’s been a gas station owner for 3 years and now owns 8 Arco and Shell stations throughout Washington’s Whatcom county. Their gasoline stations have been growing revenue year over year even through COVID’s impact on gas sales.
One of Parm’s greatest strengths as a gas station owner is that he’s a people person who loves the customer service side of the industry. We’ll find out what he does to create a great customer experience, as well as what approaches work best for bringing in new customers when you first open a gas station. He’ll also share his tips on writing a gas station business plan, and what processes and systems he put into place early that allowed his business to grow quickly.
Building a solid team is another key step to starting and running a successful gas station. We’ll ask Parm where he finds reliable employees and how he attracts and retains them to keep all of his locations running smoothly. He’ll also share how he manages and leads his team, and what tools and systems he uses to schedule his team and keep track of their work.
Anyone wondering how do you start a gas station business, or any retail-oriented business, will want to hear Parm’s insights.
See our detailed guide to starting a gas station business with cost, set up, location, licenses, and much more: https://www.upflip.com/blog/opening-gas-station
Ready to buy a gas station business of your own? See what’s available in your area on UpFlip’s business listings: https://www.upflip.com/gas-stations-for-sale
Check out our podcast for more amazing interviews: https://www.upflip.com/podcast
And if you’re looking for more advice on starting a business, here are some videos you can check out:
How to Write a Business Plan (You’ll Actually Use) ►
https://www.youtube.com/watch?v=Seac5PbUZXk
How to Start a Business in 2021 (A Step-by-Step Guide) ►
https://www.youtube.com/watch?v=xJ71lGDtSt4
Timestamps:
0:00 Intro
0:34 Meeting the Co-Owner of 8 Gas Stations
1:30 First Time Buyer Advice
2:22 Business Runs on Family
3:40 How To Decide Branded or Unbranded
4:44 Required Skills For Success
5:30 The Importance of Location
6:26 A Unique Type of Marketing
7:42 How To Keep Costs Covered
8:11 Pricing Strategies
9:03 How To Beat Competitors
10:28 Becoming a Millionaire
10:55 Inside Store Sales vs Outside Store Sales
11:56 The Perfect Gas Station Team
12:56 The Key To Keeping Your Gas Station Safe
13:55 System and Processes
14:49 Finding The Perfect Gas Station Brand
15:22 The Best Maintenance Routine
16:40 How To Determine Your Business Hours
18:31 The Secret To Bringing in More Customers
19:31 The Items You Must Always Carry
20:16 The Secret To Hiring Great Employees
21:40 Pros and Cons of Buying a Station
22:43 Special Licenses and More
23:40 Fears and Doubts
24:26 How To Manage Seasonalities
25:10 When To Expect Profit
26:03 Your Favorite Type of Customers
27:13 Is It A Good Idea To Go 24 Hours?
28:07 The Pandemic vs Gas Stations
29:02 Favorable Things as a Gas Station Owner
29:49 How To Create The Best Experience for Customers
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