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Help Us Help You, Inc. buys convenience stores and gas stations. No matter if they’re on a busy road or located in a desolate urban area, we are interested!
A convenience store, convenience shop, or corner shop is a small retail business that stocks a range of everyday items such as coffee, groceries, snack foods, confectionery, soft drinks, tobacco products, over-the-counter drugs, toiletries, newspapers and magazines.
In some jurisdictions, convenience stores are licensed to sell alcohol, although many jurisdictions limit such beverages to those with relatively low alcoholic content such as beer and wine.
Such stores may also offer money orders and wire transfer services, along with the use of a fax machine or photocopier for a small per-copy cost.
Some also offer to sell tickets or recharge smart cards. They differ from general stores and village shops in that they are not in a rural location and are used as a convenient supplement to larger stores.
How to Sell a Gas Station
Selling a business can be time-consuming, but it doesn’t have to be stressful. When selling a gas station, there is a little more to consider.
The bulk value of a gas station lies underground, with several other factors coming into play. If you’ve been thinking about selling your gas station, you’ll need to consider several factors before you begin the process and ensure that it goes smoothly.
Gather your business records
Every business owner should maintain their business records in an organized manner and make sure they’re all up to date. You’ll need your profit and loss statements, annual reports, and three years of sales and inventory reports.
It would also be helpful to gather all vendor information, such as fuel suppliers, maintenance companies, and more. This will help us maintain the business relationships you worked hard to build.
Make sure you’re in compliance
Since gas is a hazardous material, there are many laws in the U.S. surrounding gas station maintenance.
Make sure your underground equipment is in proper working order. This will maintain the value of your gas station.
Value your gas station correctly
Valuing a gas station is a little bit different than valuing another kind of business.
Since most of your product is stored underground, this will take a little more time and effort on your part.
You’ll want to consider the following:Branded vs. unbranded, Location, Traffic patterns, The condition of your facility, and the Number of gas pumps.
You’ll want to consider the following:
Branded vs. unbranded, Location, Traffic patterns, The condition of your facility, and the Number of gas pumps.
If you have any of the above or additional features such as a convenience store, car wash, air compressor, etc., it will affect the value of your gas station.
Branded gas stations may hold more value than an unbranded gas station.
Also, the more pumps you have, the higher your sale value may be.
This information will prepare you to sell your property and following the steps above will help ensure a smoother selling process.