Financial Requirements of Opening a BP Gas Station Franchise
- Liquid capital required: $700,000
- Investment: $2,500,000 – $6,600,000
- Franchise fee: $30,000
| Liquid capital required | $700,000 |
|---|---|
| Investment | $2,500,000 - $6,600,000 |
| Franchise fee | $30,000 |
Why Open a BP Franchise?
How many countries does BP operate in?
What states do not require franchises?
How much does it cost to open a gas station?
Can you franchise BP without gas?
Do franchises need a lawyer?
Do you need gas to open a BP?
See 4 more
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How much money is needed to start a franchise?
Franchise startup costs can be as low as $10,000 or as high as $5 million, with the majority falling somewhere between $100,000 and $300,000. The price all depends on the industry, location and type of franchise.
How much does a BP franchise cost in South Africa?
In order to open an outlet, franchisees will need to spend anywhere from R250,000 to R350,000. As for the working capital requirement, the franchisor recommends an amount of R250,000 to cover the estimated start-up costs of R500,000.
Is BP garage a franchise?
Globally, BP has over 18,000 retail sites and is a major franchising presence in the UK, US, and South Africa. In the UK, consumer BP franchises are spread over 300 locations and 950 independently owned BP-branded sites.
How much money can you make from buying a franchise?
According to a survey done by Franchise Business Review involving 28,500 franchise owners, the average pre-tax annual income of franchise owners is about 80,000 dollars. However, this number should be taken with a grain of salt bearing in mind that it could be inflated by high incomes of a few top performers.
How do I get a BP franchise?
BP Connect Franchise Cost / Initial Investment / BP Connect Franchise. The total estimated investment to open a BP Connect franchise ranges from $2.27 million to $6.67 million, including estimated real estate costs, with an estimated liquid capital available of $700,000 to $1 million. The franchise fee is $30,000.
How much is MTN franchise?
"It basically costs next to nothing" to become a franchisee, if an entrepreneur is to exclusively provide MTN`s services. However, an amount of R90 000 would be payable over three years should a franchisee decide to terminate the three-year franchising contract.
How can I own a gas station?
Requirements to Buy a Petrol Station ExampleSelling Price of business R 5 000 000.00 net profit +- R 120,000 pm.Plus: Stock R 600 000.00.Plus Working Capital R 500 000.00.Other: e.g. Training, Licence application, etc. ... Oil company fuel guarantee R800,000.TOTAL Funding Requirement R 7 000 000.00.More items...
How much is Sasol garage franchise?
The company is currently selling a franchise in Gauteng, with convenience store a monthly fuel average of 315,000 litres, for R10 million. A smaller Sasol franchise in Port Elizabeth, that sees an average of 203,300 litres per month, is currently on the market for just under R6 million.
How much do you need to open a petrol station?
A local petrol station business set up costs range in the region of R15 million and R100 million depending on the size and site. Further to this the operation payable to the oil company ranges between R2. 5 million and R15 million, depending on the cost to develop, projected volumes and profitability.
Is owning a franchise a full time job?
Buying a franchise doesn't have to mean making a full-time commitment. Believe it or not, there are many franchises that can be run on a part-time basis, especially when you first start out.
What franchise pays the most?
What is the most profitable franchise to own? According to the Franchise 500 list of 2021, Taco Bell is the most profitable franchise to own. The food chain has been franchising for nearly 6 decades and is still seeking franchises worldwide. As of 2021, they have 7,567 open units.
Do franchise owners make good money?
Buying a franchise might seem like easy money, but those royalties and fees will quickly cut into profit margins. The majority of franchise owners earn less than $50,000 per year.
What do you need to own a petrol station in South Africa?
Requirements to Buy a Petrol Station ExampleSelling Price of business R 5 000 000.00 net profit +- R 120,000 pm.Plus: Stock R 600 000.00.Plus Working Capital R 500 000.00.Other: e.g. Training, Licence application, etc. ... Oil company fuel guarantee R800,000.TOTAL Funding Requirement R 7 000 000.00.More items...
How much is Sasol garage franchise?
The company is currently selling a franchise in Gauteng, with convenience store a monthly fuel average of 315,000 litres, for R10 million. A smaller Sasol franchise in Port Elizabeth, that sees an average of 203,300 litres per month, is currently on the market for just under R6 million.
BP Gas Station Franchise - How To Open, Cost & Profit - Startupback
BP Franchise Start-up Cost. Business people and entrepreneurs who are interested in starting a BP franchise are required to have a minimum start-up capital of $1.2 million (U.S. dollar) while the start-up cost is at a high of $6.6 million (U.S. dollar).. BP Franchise Training and Supports
Petrol Stations For Sale, 81 Available To Buy Now
Fully Managed Service Station In The East - Ref: 18841; Location: Box Hill, Victoria, Australia Description: Fuel Commission: $145,000 pa approx. Well-known brand service station located on a super busy main road in the East.
Own a BP service station | Products and services | Home - Australia
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Petrol Stations For Sale, 11 Available To Buy Now
Fully Managed Service Station In The East - Ref: 18841; Location: Box Hill, Victoria, Australia Description: Fuel Commission: $145,000 pa approx. Well-known brand service station located on a super busy main road in the East.
Service Station Businesses and Franchises for sale | SEEK Business
Want to be your own boss? View 85 Service Station businesses or franchises for sale on SEEK Business and turn your dreams into reality.
Why Open a BP Franchise?
Sure, you can open your own gas station, but BP is a trusted name. The company somehow managed to bounce back from the nightmare PR they received following an accident nearly a decade ago (you might have seen the movie "Deepwater Horizon"), and they have completely revamped their image into something Americans trust.
How many countries does BP operate in?
Before you even get together the money to launch a BP franchise, you need to know if BP even operates where you live. The company operates in 70 countries worldwide but doesn’t actually hit every state. If you’re in Nevada, Arizona, Montana or North Dakota, you might be totally out of luck.
What states do not require franchises?
The latter is dependent on location. States like Alabama and Alaska don’t require you to register your franchise, whereas Texas charges $25 for registration, and Rhode Island charges $600. If the state you’re in doesn’t have its own franchise laws, you automatically default to the federal laws.
How much does it cost to open a gas station?
If you don’t have a huge savings, you’re going to need investors or a business loan. It can cost $2.5 million to upward of $6.6 million to open a gas station franchise like BP, though that includes salaries of staff for the first three months, buying land and the cost of all the equipment. Constructing a facility with underground gas tanks and reservoirs can cost more than $400,000 alone.
Can you franchise BP without gas?
You can’t have a BP franchise without gasoline. You might also choose to offer BP’s lubricant range and Castrol range. Whatever you choose, it’s time to stock your business and prepare for opening. Once you have your location ready to go, you need to hire your staff.
Do franchises need a lawyer?
Franchises are heavily regulated in America. This is why you’ll need a great lawyer, and you’ll need to file the proper paperwork. These laws range from the federal franchise rules to state registration and disclosure laws.
Do you need gas to open a BP?
A BP franchise is the sort of thing that doesn’t go out of style. Yes, the price of the oil drum varies, but people will always need gas as long as they’re driving nonelectric cars.
What is included in the BP franchise fee?
Included in the BP franchise fee is software (both back end and point of sales), agreed-upon equipment, training for you and your staff, sales advice, health and safety recommendations, and more. You will work closely with the UK’s head office to ensure your combined investment is a success.
How can I you apply for a BP franchise or find out about BP franchises for sale in the UK?
Send an inquiry email to the investor relations department by filling in the enquiry form found on this page.
How much does a BP Connect franchise cost?
The franchise fee for a BP Connect store in the UK is approximately £20,000. On top of that, you will need to have around £800,000 in liquid investment for running costs until you become profitable. A total investment of around £2,000,000 is expected, including the high cost of real estate and your shop outfit. BP does not offer financing services.
Why choose a BP franchise over other convenience-focused franchise options?
BP is a global player with a brand presence unrivaled by most companies. When starting out, you’ll be backed and supported by one of the biggest companies in the world.
How many BP franchises are there in the UK?
In the UK, consumer BP franchises are spread over 300 locations and 950 independently owned BP-branded sites. The brand is a major job provider, too, accounting for 16,000 direct employees and branching out to create 141,800 jobs in the UK.
What is BP service?
BP’s primary service is the sale of fuel via petrol stations. With 1,200 individual outlets, BP fills the tanks of five million UK cars every single week. The opportunity for businesses to generate high income via sheer foot traffic is immense. Through value-added business branches, you can generate an income of more than gas. BP Connect is a perfect example of a value add to an existing BP service station.
What is BP Connect?
A BP Connect franchise is a convenience store that sells all manner of supplies to travelers and time-strapped commuters. BP Connect stores stock food items, toiletries, emergency car supplies, and novelty items like flowers or gifts.
Becoming part of the BP network is about more than just signing a basic supply agreement
alignment with a strong global brand which is recognised for its commitment to excellent financial, social and environmental performance
Being part of the network means you enjoy
alignment with a strong global brand which is recognised for its commitment to excellent financial, social and environmental performance
How many locations does BP have?
BP have over 300 locations in UK, and around 200 in the US; currently they are seeking expansion globally. Through their combined efforts —with BP global— they are able pride thereselves in being called the 6th largest oil and gas company, the 6th largest energy company, and the company with the world's 5th largest turnover. Furthermore, BP connect is recognised everywhere you go, their green logo and sleek interior is bound to attract travellers on the road. You can invest with confidence knowing that you will be dealing with a stable market, alongside them —a globally-dominating company.
When did BP connect open?
BP Connect locations were first opened in UK back in 2000. Prior to BP Connect, they have over 25 years of experience in the petroleum convenience store industry. They expanded into the US in 2001 and currently have around 200 sites in nine states.
What is BP Connect?
BP Connect is a convenience store owned by BP P.L.C. —the British multinational oil and gas company with over 18,000 retail sites spread across the globe— usually located beside BP filling stations. They are a globally recognised brand with a diverse range of products: from savoury food, to refreshing drinks, to toiletries, and automotive supplies —you are sure to find what you need with them. They're also known for their original “Wild Bean Cafe,” their customers just can't get enough of their aromatic original-blended coffee, and wide array of delicious pastries. You can count on them to give you that extra boost you need to finish your remaining hours on the road 24/7.
Why Open a BP Franchise?
Sure, you can open your own gas station, but BP is a trusted name. The company somehow managed to bounce back from the nightmare PR they received following an accident nearly a decade ago (you might have seen the movie "Deepwater Horizon"), and they have completely revamped their image into something Americans trust.
How many countries does BP operate in?
Before you even get together the money to launch a BP franchise, you need to know if BP even operates where you live. The company operates in 70 countries worldwide but doesn’t actually hit every state. If you’re in Nevada, Arizona, Montana or North Dakota, you might be totally out of luck.
What states do not require franchises?
The latter is dependent on location. States like Alabama and Alaska don’t require you to register your franchise, whereas Texas charges $25 for registration, and Rhode Island charges $600. If the state you’re in doesn’t have its own franchise laws, you automatically default to the federal laws.
How much does it cost to open a gas station?
If you don’t have a huge savings, you’re going to need investors or a business loan. It can cost $2.5 million to upward of $6.6 million to open a gas station franchise like BP, though that includes salaries of staff for the first three months, buying land and the cost of all the equipment. Constructing a facility with underground gas tanks and reservoirs can cost more than $400,000 alone.
Can you franchise BP without gas?
You can’t have a BP franchise without gasoline. You might also choose to offer BP’s lubricant range and Castrol range. Whatever you choose, it’s time to stock your business and prepare for opening. Once you have your location ready to go, you need to hire your staff.
Do franchises need a lawyer?
Franchises are heavily regulated in America. This is why you’ll need a great lawyer, and you’ll need to file the proper paperwork. These laws range from the federal franchise rules to state registration and disclosure laws.
Do you need gas to open a BP?
A BP franchise is the sort of thing that doesn’t go out of style. Yes, the price of the oil drum varies, but people will always need gas as long as they’re driving nonelectric cars.
