High Season for Gas Stations: Are you ready?

Summer is around the corner and with it the high season for gas stations.

Some statistics that you should know:

• The U.S. Travel Foundation is still predicting high travel for 2023, despite inflation.
• Domestic travel in the U.S. remains the most popular option.
• 37 million Americans are planning to travel just during Memorial Day weekend. 

Is your gas station ready for the Summer of the Car?

Our network of lenders is still keen to make financing available for gas stations and convenience stores. Perhaps you are interested in purchasing or construction of a gas station. Or maybe you already own a gas station and are ready to renovate. Now is the time to capitalize on this sweet spot in financing. Here are some ideas to consider for future renovations and current operations:

Revenue Enhancements for Gas Stations

• Are you fully staffed? Gas stations and convenience stores naturally compete with their nearest neighbors. Does your store have a reputation for efficiency? Indeed, the only way to be efficient is to have sufficient staffing. In essence, when you are you fully staffed, you can sell more types of products. These can  include drink stations, complicated coffee stations and self-serve snacking. 

• Car Wash Capacity: Increased driving means increased dirty cars! What’s more, those car washes quickly pay for themselves, especially when customers see no waiting for a wash. It’s no surprise that lenders are quite willing to fund renovations that include increasing car wash capacity. 

• Charging Stations: Electric and hybrid cars are increasing throughout urban and suburban areas. First thing to remember, charging takes a few minutes. As a result, these customers will absolutely use this down time to come inside and make some purchases. Therefore, adding charging stations is a great investment, one that is viewed favorably by lenders. Finally, installing a charging station may also have a tax incentive. 

• Fuel Supply Agreements: Are you satisfied with your fuel supply agreement or are you ready to renegotiate? GRP Capital can help you in this process, one which directly affects your bottom line. 

If you are interested in any form of gas station loans, now is the time to act. Contact our team or email us at fuelup@grpcapital.com to access our gas station specialists.