Selecting a Location for Your Massachusetts Gas Station
Owning a gas station in Boston could be an extremely lucrative venture. If you have the start-up capital to purchase one of the many Boston gas stations for lease or sale and are able to manage the business efficiently, you can earn a consistent income in a business with enviable stability.
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Before you can invest in a gas station, you need to find the right type of property in a location that promises consistent traffic. You also need to understand how to compare different Boston gas stations for sale or lease so that you end up with the perfect investment for your professional needs.
To help you do all of that and more, Boston City Properties offers a comprehensive view of the city's gas station market at any time. New stations are listed on a routine basis, and you can sign up to receive notification whenever something new hits the market. Finding the perfect property for lease or sale is easier when you have a partner helping you stay one step ahead of other interested buyers.
Ultimately, you're looking for property located on or close to a major street, intersection, highway or another road that experiences heavy traffic throughout the week. This makes your business convenient to travelers passing through Boston as well as locals living in nearby residential communities.
Properties located near shopping centers, strip malls, outdoor markets, restaurants and popular entertainment venues are also ideal. Even if these locations aren't as close to the highway as others, you may receive adequate traffic from locals and visitors enjoying the vibrant city of Boston.
Think about the different segments of Boston, and try to identify gas stations that are near highlights in one of those segments. For instance, you may try to position yourself as the ideal pick for commuters traveling into the downtown area during the week. This would also put you in a convenient location for visitors bringing their rental cars into town to visit popular restaurants or simply drive around to look at the city's amazing architecture.
Gas Stations for Sale & Lease By City
Franchise vs. Independent Gas Stations
If you buy into a gas station franchise, you will have the obligation to uphold the reputation of one brand. This includes purchasing that brand's gasoline and participating in promotions offered by the brand. You have less control over your business, but you also have a recognizable brand name that will give customers a sense of security and familiarity.
If you choose to purchase one of the many independent Boston gas stations for lease or sale, you will maintain complete control over your business. This includes coming up with your own name, determining where you want to buy your gasoline and which promotions you want to offer your customers. While a franchise will give you some assistance with marketing and daily operations, independent ownership allows you to keep all of your profit and come up with your own branding ideas.
A franchise agreement may place limitations on the location chosen for your gas station, so this is a decision you should make early on in the buying process. Which option you choose depends on how much help you would like to receive when setting up your business and how strongly you want to maintain complete control over your new business.
Expanding Your Gas Station Business
Gas stations offer income opportunities far beyond the sale of gasoline. If you find Boston gas stations for sale which include property large enough to host a convenience store, you could make money from the sale of drinks, snacks, cigarettes and even lottery tickets. You may also add a grill into your convenience store, drawing in customers interested in purchasing sandwiches, fries and other finger foods while they fill up their tanks.
Many Boston gas stations for lease and sale also include car washes which will supplement your income as an owner or operator. Others may include an attached car repair center or tire shop. If you don't have room for that or don't want to manage a repair center on top of your gas station, you may consider offering a limited selection of windshield wipers, windshield wiper fluid and other car-related items in your convenience store or by the register of a smaller gas station.
If you're intimidated by the thought of managing a thriving business that includes multiple streams of income on one site, start out with a small gas station. Select a location that gives you room to expand, and you may one day find yourself operating a busy travel complex that offers customers multiple services in one convenient location.
Things to Consider When Comparing Boston Gas Stations for Sale or Lease
It's not easy to compare many gas stations for lease or sale in Boston because there are so many factors that impact the price of a station. This checklist will help you identify the best type of gas station for your business interests and assist you in comparing different stations currently on the market.
- Is property included in the sale? If so, identify the current owner.
- Who owns the land on which the gas station sits? If property is also included, does the same person own the land and property?
- Are side businesses such as convenience stores or car washes included in the sale or lease?
- Is the location convenient to residential communities, highways and other sources of traffic?
- Is the current owner involved in any form of environmental litigation or other legal cases? These will transfer to you as the new owner, so make sure you aren't buying into a legal headache.
- Did the previous owner take care of the property? If not, how much time and money will it take you to clean it up and create a well-maintained station for your customers?
- Is there a canopy in good condition covering the pumps? If not, you need to consider the expense of adding one.
- How does the station compare in size to other gas stations in the area? Consumers typically gravitate toward larger stations, and you'll have more room to stock merchandise if you have a larger convenience store inside the station.
- What financing options are available? Even further, do one of those options blend well with the amount of risk you're willing to assume and the start-up funds at your disposal?
Are You Ready to Own a new Gas Station?
Gas stations do best with active owners on site much of the time. If you're ready for a new business venture and want to grab the most lucrative gas stations for sale or lease, Boston City Properties is the best place to start. Search our listings to learn more about stations currently up for sale or lease in various areas of the city, and sign up to receive notifications when new properties are listed. This will give you a heads up when a new property that may fit your needs hits the market, allowing you to check it out before your competitors get there first.
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