Many of our lending partners are still very keen on gas station loans and particularly gas station upgrade loans. These businesses continue to be solid investments, seemingly recession and inflation-proof. We routinely check in with our lending partners to see what their appetite is. They are telling us that they remain highly interested in funding gas station purchases, refinances, and gas station upgrades.
What are Gas Station Upgrade Loans?
• Finding Paths to Increased Profits: Gas station owners have a few ways to increase revenues. Pricing their fuel to drive traffic to the store is one way. However, many fuel center owners believe that the true revenue centers are those that encourage add-on spending from customers. Inside store sales are a key example of this add-on spending.
• Car Washes: Car washes are a great gas station upgrade. They do require maintenance and increased water and supply costs. But these can be offset with enough volume. We are also seeing gas station owners offering initial car wash specials or encouraging loyalty programs.
• Charging Stations: Gas stations can still be relevant to drivers of electric vehicles through the installation of charging stations. Additionally, there is often matching governmental funding for creating charging stations. Most importantly, drivers of electric cars have to linger at the charging stations for a little while. Therefore, they have time to kill, time which can be spent shopping in your retail area.
Why GRP Capital Can Help Gas Station Owners:
• We Do the Work So You Can Do Yours: Lots of small business owners work hard. However, we know that gas station/C-store ownership and management is particularly labor intensive. Our clients can rely on us to fill out documents, review them, obtain signatures, and set up site visits, all while working in partnership with the lender. We work hard securing your funding, so you can work hard running your business.
• We Know the Gas Station Business: We have worked with a variety of clients who own gas stations and C-stores. We have expertise in funding the purchases, refinances and construction of gas stations and C-stores. We understand the nature of the business and many of its challenges, including staff retention. As a result, we can make the case for your business, showing its profitability and its potential for future profitability.
Contact Our Team For Your Financing Needs:
If you are considering a loan for purchase, refinance or construction and would like to discuss your plans, feel free to contact our team. We have a network of lenders and can find the best match for your funding needs, saving your time and money, so you can focus on running your business.
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