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How much does it cost to open a BP franchise?
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....Facts & Figures.Liquid capital required$700,000Investment$2,500,000 - $6,600,000Franchise fee$30,000
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.
Is owning a gas station a good business?
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.
Are gas stations profitable business?
Currently, gas stations and their corresponding convenience stores are some of the most profitable businesses in the United States. Across the country, there are over 100,000 gas station/convenience stores which bring a cumulative of over $400 billion revenue each year.
What franchise is the most profitable?
Most Profitable FranchisesDunkin'7-Eleven.Planet Fitness.JAN-PRO.Taco Bell.Orangetheory Fitness.Great Clips.Mac Tools.More items...•
Is it hard to run a gas station?
Whether it's your first time flexing your entrepreneurial skills or you're a seasoned (but always learning) pro, running a gas station is no easy task. But with the right know-how, operating a gas station ranks as one of the most profitable ventures in the country, according to Entrepreneur.
How do gas station owners make money?
Station owners make most of their profits in their stores, on sales of food and drinks, as well as alcohol where sales are legal. “The idea is to have a very competitive gas price, and when they go in the store, you can make money off that transaction,” Lenard said.
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...
Why do Indians own gas stations?
They come from a clan based society. Two generations ago, a few families immigrated to the US. They worked hard, and built a life. As more members of the extended clan immigrated, the established families would help them by pooling money to buy small business'.
How much money do gas station owners make?
You would be correct in assuming a gas station owner's salary will depend on many different variables. 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.
What is the most lucrative business?
Most Profitable Business IdeasBusiness Consulting. If you're an expert in your industry and have been working at it for years, you should consider consulting. ... IT Support, Technology Consulting, and Repair. ... Cleaning Services. ... Accounting and Tax Preparation. ... Auto Repair. ... Real Estate. ... Online courses. ... Marketing and PR Services.More items...
How much does a gas station cost?
You should expect to secure at least $300,000 to cover the following startup costs: Purchasing the location. Business insurance. Registering your business.
How much does it cost to own a gas 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 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.
Why do Indians own gas stations?
They come from a clan based society. Two generations ago, a few families immigrated to the US. They worked hard, and built a life. As more members of the extended clan immigrated, the established families would help them by pooling money to buy small business'.
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 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.
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 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.
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
Why is BP gas station franchise important?
It is for these reasons that the franchise makes for an attractive and profitable business venture. The growing demand for energy will assist in the growing demand of customers that the BP Gas station will render. To apply for the franchise it is important to consider your idea for your business plan and your budget.
How to apply for a BP franchise?
To apply for the franchise it is important to consider your idea for your business plan and your budget. Meet with the franchise support department of BP to discuss financial support and the signing of the franchise agreement. It is also important to have general business management knowledge or any of its equivalents, and though not a prerequisite, have experience in Gas station management or related energy services.
How many BP service stations are there?
When it comes to energy providers and the sale of petrochemical products and other everyday items, BP is the one to call. There are currently 22,400 service stations with exploration and production activities in 30 countries, 16 refineries, 2.3 million barrels per day of refining output, around 80,300 employees, $14 billion in replacement cost profits, and $239 billion in sales and other operating revenues.
What is BP Connect?
BP Connect, the name behind the BP gas station franchise, provides access to the worldwide BP network, corporate support with successful business history, instant brand awareness, a performance-driven business model, and many other potential markets that revolve around the BP industry .
Is BP a gas station?
BP is considered one of the largest energy companies in the world and has several franchises under its trade name. The BP Gas Station franchise is one of its most popular franchises, making it a popular business option for entrepreneurs. With BP you have the advantage of dealing with one of the best companies in the industry.
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.
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.
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.
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.
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.
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.
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.
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 .
