Don’t Open A Gas Station Until You Watch This!

Is starting a gas station business a smart investment? It was for Parm Bhullar, who’s grown a $1 million investment into $37 million in yearly revenue. We’ll hear her insights on how to open a gas station in this interview.

Parm and her business partners had more than 15 years of experience in the retail industry, along with a shared passion for small business ownership. She’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 she’s a people person who loves the customer service side of the industry. We’ll find out what she 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. She’ll also share her tips on writing a gas station business plan, and what processes and systems she put into place early that allowed their 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 she finds reliable employees and how she attracts and retains them to keep all of her locations running smoothly. She’ll also share how she manages and leads her team, and what tools and systems she uses to schedule her team and keep track of their work.

Resources:

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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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