| Liquid capital required | $700,000 |
|---|---|
| Investment | $2,500,000 - $6,600,000 |
| Franchise fee | $30,000 |
How much does it cost to buy a BP Connect franchise?
BP Connect Franchise Cost / Initial Investment / BP Connect Franchise. Income. 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 does it cost to open a BP gas station?
Constructing a facility with underground gas tanks and reservoirs can cost more than $400,000 alone. It’s estimated that you’ll need around $700,000 in liquid capital plus a $30,000 franchise fee to open a BP franchise. The investment you make long term will likely be in the millions.
Should you franchise a BP gas station?
To franchise or not to franchise is a classic question. Sure, you can open your own gas station, but BP is a trusted name.
How many BP franchises are there in the world?
In the United Kingdom alone, the company has more than 300 franchise locations while in the United States of America, the company has more than 200 franchise locations. How Much Does BP Franchise Cost?
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How much is a BP franchise 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 franchising a gas station profitable?
Gas stations and their corresponding convenience store or food outlets rank as one of the most popular and profitable franchises in the United States. With over $400 billion in revenue every year, and more than 100,000 gas station/convenience stores operating all over the country it is clearly a popular business model.
What is the biggest gas station franchise?
The largest gas station chain in the U.S. is Exxon Mobil, with a revenue of $285.6 billion and 71,100 employees. As of 2022, the US gas station industry has a market size of $138.3 billion. There are over 145,000 gas stations across the US.
How much is a petrol station franchise in UK?
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.
Is owning a gas station worth it?
Gas stations are a great business to franchise because the demand for fuel in America is constant and not going anywhere. Our country literally runs on gas. People need to drive to work and trucks need to carry goods across country. Gas stations are a $250 billion a year industry.
How much does a gas station owner make?
In general, though, you can expect your earnings to be anywhere from $35,000 to $150,000 per Million Litre Fuel Sales and convenience store sale from 18% to 25% for overall sales including cigarette and Lottery sales. Overall gas station may be 8 to 15% Cap rate, depending on location and condition of the business.
What is the cost of a Starbucks franchise?
What are the Financial requirements for a Starbucks licensed store? You need to pay the licensing fee of between $50,000 – $315,000 and you must have over $1,000,000 in liquid assets to be considered for a licensed store by Starbucks.
Do gas stations make money?
Gas retailers receive a fraction of the price listed on the sign–their net profit per gallon is around $0.03-$0.07–after factoring in costs like labor, utilities, insurance, and credit card transaction fees. This puts the net profit margin of a gas station at less than two percent.
What is the cost of McDonald's franchise?
The Franchise fee of McDonald's goes for around 30 lakhs INR; however, this fee is also attached with a 4 % monthly royalty fee as service fees to the brand. The actual investment amount differs, a business owner needs to keep a rough estimate of around 6 to 14 Crores.
Is owning a petrol station profitable?
Ans- Yes, petrol pump business in India is a highly profitable sector. The commission per litre including the number of vehicles filled monthly could easily take your monthly profits up to 4 Lakh Rupees.
How do petrol station owners make money?
Petrol stations don't make much money Retailers try to make about 4-5p per litre, but out of that they have to pay staff, business rates and corporation tax. Fuel stations often depend heavily on sales from the shop – a retailer can make more on selling a Costa coffee than on 40 litres of fuel. '
How much does it cost to set up a petrol station?
On average, the cost of starting a petrol station in Kenya ranges between ksh. 6,000,000-Ksh. 15,000,000 in total.
How profitable is a gas station?
Gas retailers receive a fraction of the price listed on the sign–their net profit per gallon is around $0.03-$0.07–after factoring in costs like labor, utilities, insurance, and credit card transaction fees. This puts the net profit margin of a gas station at less than two percent.
Is owning a convenience store profitable?
Generally, convenience stores are profitable propositions, with average gross profit margins upwards of $450,000. Profitable ventures may result in an opportunity to open other locations within a city or area, increasing your potential profits that much more.
Do gas stations make money on gas?
Retailers Make Very Little Selling Gas Generally, the markup (or “margin”) on a gallon of gas is about 15 cents per gallon (gross profit before expenses). Factoring in expenses, which include rent, utilities, freight, labor and credit card fees, a retailer is left with about 2 cents per gallon in profit.
How much does a gas station cost?
The total initial cost typically runs between $250,000 to $2 million for a small gas station, although there are some less costly local chain options. However, you'll likely earn less from them.
How much does it cost to open a 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 many BP Connect locations are there?
BP Connect has approximately 200 locations in nine U.S. states, and is seeking expansion in the Midwestern and Eastern regions of the country. Franchisees receive full support from the corporation, including with marketing and advertising, training and consultation, sales planning, accounting and financial assistance, and advice on product mix.
What is BP Connect?
BP Connect is a one-stop clearinghouse of all your needs on the go. The convenience store/café/filling station brand is owned by BP, the multinational British oil and gas corporation. The stores feature a sleek design and are known for having a kiosk with Internet.
What is the slogan of BP Connect?
BP Connect stores have featured the advertising slogan, ‘A Little Better Gas Station, ’ made popular by a song, LA, performed by the indie rock band Message of the Blues and featured in TV and radio ads.
Is Honey Baked Ham a franchise?
The Honey Baked Ham Company, America's first and favorite ham franchise, has been serving high quality products for over 60 years. As a retail food franchise, HoneyBaked stands out with its multiple revenue streams and simple operating requirements.
Is BP Connect a franchise?
BP Connect is listed in the Franchise Directory under the Retail category. It's also listed in the section for Franchises Under $1,000,000 .
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 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.
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 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.
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.
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.
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
