Are you about writing a gas station business plan? If YES, here is a sample SWOT analysis for a gas station company to help you form a competitive strategy.
Gas Station Business Plan – Economic Analysis
Gas station business is not a Green business, as a matter of fact; you will come across several gas stations when you drive along any road in the United States.
So, if you are mapping out your economic analysis, you should carry out thorough market survey and costing of the required amount needed for leasing/renting a landed property along a major road with government approval for a gas station and the amount needed to purchase the needed gas station equipment and tools, and the amount needed for the purchase of gasoline, diesels, kerosene and cooking gas supplies and also the running cost of the business.
Over and above, when it comes to starting a medium scale gas station company, you should be prepared to either rent or lease a standard and centralized facility along a major road or expressway with good human and vehicular traffic. This is going to be one of the areas where you are expected to spend the bulk of startup capital.
Other areas are the amount required in setting up a full-service state of the art gas station facility with the capacity to carry out automotive services (e.g. repairs, car washes and general parts), Nonautomotive fuel, retailing automotive fuels (e.g. diesel fuel and gasoline), retailing cooking gas, selling automotive-related goods, providing automotive-repair services, providing wheel alignment, wheel balancing and vulcanizing services, retailing of groceries and soft drinks et al, the scale/size of the business and also in paying your employees at least for the first three months of starting the business.
A Sample Gas Station Business Plan SWOT Analysis
Knowing the strength and weakness of any business is one of the right steps to take in business. No doubt starting a gas station is indeed capital intensive especially for aspiring entrepreneurs who may not have huge sum of money saved up in a bank.
We are aware that it will require loads of cash to set up a standard gas station in Miami – Florida which is why we decided to do all that is required to build a profitable business; we don’t intend to invest our hard earn money in a business that we know we are not truly cut out for. One of the tools that is required to position us in building a successful gas station business is SWOT Analysis.
We hired the services of Dr. Memphis Iverson, an HR and Business consultant who is based in Miami Florida to help us conduct SWOT analysis for our company and he did a pretty good job for us. Here is a of the result we got from the SWOT analysis that was conducted on behalf of Sunny Star® Gas Stations, Miami – Florida;
- Strength:
Sunny Star® Gas Stations is centrally located along one of the busiest highways in Miami – Florida; our location is in fact one of our major strength. Aside from the basic service that we offer, we also offer complimentary services that most of our competitors are not offering.
So also the vast experience of our management team, we have people on board who are highly experienced and understands how to grow business from the scratch to becoming a national phenomenon and our attendants are well groomed to handle various classes of customers; our excellent customer service culture will definitely count as a strong strength for the business.
- Weakness:
Our perceived weakness could be the fact it is a new gas station business which is owned by an individual (a small family), and we may not have the financial capacity to sustain the kind of publicity that can give us leverage and start operating chains of gas stations in various cities in the united states as planned.
- Opportunities:
We are centrally located in one of the busiest highways in Miami – Florida and we are open to all the available opportunities that the city has to offer. Our business concept also positioned us to attract people who like doing their shopping, washing and servicing their automobile in gas stations. Miami is one of the densely populated cities in Florida, and indeed populations translate to opportunities.
- Threat:
One of the major threats that confront businesses all over the world is economic downturn; when the economy is bad it affects consumers spending which in turn impacts businesses negatively. Another threat that we are likely going to face to confront us is the emergence of a new gas station within the same location where ours is located.