Originally intended to be refuelling stations, today’s truck stops are far more than the mom and pop fuelling stations of yesteryear. Catering to the 3.4 million professional truck drivers who move more than $10 trillion in goods across the highways every year, these novel facilities aim to capitalize on meeting drivers’ needs.
From food and lodging to technology and services, amenities at modern truck stops deliver comfort, entertainment, and work – life balance, highly entrepreneurial by nature, truck stop owners and truck stop chain executives are always on the lookout for new ways to expand their services and capture a larger share of the marketplace.
Truck stops are unique business opportunities. Although there are a number of things you can worry about as a truck stop entrepreneur, stable demand should be your major concern. Have it in mind that truckers and drivers are a captive audience. Many highways offer few service alternatives, so as long as there is a road running alongside your truck stop, your business will benefit from relatively steady demand.
Another crucial part is that highway construction or re – routing can strike a devastating blow to your business. Ensure to perform thorough research before you invest anything to make sure the state has no plans to construct a highway that will route traffic away from your facility. Additionally, you will have to secure you market position by determining that no other truck stops exist (or are planning to exist) in close proximity to your location.
In theory, rising fuel prices could ultimately lead to less traffic, and less traffic could mean less revenue for your truck stop. Nonetheless, if you have done your due diligence, your truck stop will be located in a high traffic location – literally. Truckers and motorists will still need access to fuel, food and other amenities, practically ensuring that your business will survive periods of high fuel prices.
Howbeit, entrepreneurs who are committed to a highly unique value proposition may choose to pursue a startup approach. But for the sake of reducing business risk and maintaining your sanity, a business franchise is often the right move for emerging truck stop businesses.
The chances of making a success of your new business immediately improve if you buy a franchise rather than going it alone. If your goal is to start a truck stop business, you may want to investigate whether there are good franchise opportunities available that might aid your startup process. Nonetheless, here are top franchises to consider in the United States.
7 Best Truck Stop Franchise Opportunities and Their Cost
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1. TravelCenters of America
This company is pulling the franchise lever to grow its presence on the highway map. Actively pursuing franchisees to take over existing truck stops is one of CEO Jon Pertchik’s approaches to growing the TA, Petro Stopping Centers and TA Express travel center brands. TA has signed 18 new franchise agreements under its travel center brands since the beginning of 2019.
All are expected to be open by the first quarter of 2021. TA also is negotiating franchise agreements for 13 travel centers in Western and Southern states. It is in later – stage discussions with six locations and has more than 80 other potential franchisees in the pipeline.
- Initial Franchise Fee: $1,000,000
- Total Investment: $1,555,000 to $19,141,000
- Royalty Fee: 4.0%
The ampm brand is well established as part of the West Coast’s culture. Powerful, distinctive branding is the cornerstone of ampm’s high visibility in the convenience – store franchise industry.
Have it in mind that with ARCO and ampm convenience store franchise opportunities, you get thoroughly distinctive brands, comprehensive support for your businesses and award – winning marketing support. A key element of ampm’s convenience strategy is high brand awareness and customer loyalty.
- Initial investment: from $430,698
- Royalty Fees: 11 – 14%
RaceTrac is renowned for delivering great service to the guests who stop at its modern, convenient locations. As a pioneer and leader in the retail convenience industry, RaceTrac is leveraging on its existing store locations and expertise in fuel and merchandise retailing to recruit and support qualified entrepreneurs.
Note that potential RaceTrac franchisees should have strategic agility, business acumen and integrity. Ideal candidates will possess a desire to join a hands – on business opportunity where franchisees are actively involved in the day – to – day operations.
- Net worth requirement: $700,000
- Initial investment: from $1,000,000
- Royalty Fees: 3.5%
4. 7 – ELEVEN
7 – Eleven is a well known international chain of over 66,000 convenience stores operating in 17 countries worldwide. 7 – Eleven helps Franchisees tailor their businesses “to the individuality of their selected market bases and customer needs,” and that means happier customers that come back.
Note that services include obtaining and bearing the ongoing cost of the land, building and store equipment, record keeping, bill paying, and payroll services for store operations fees, and financing for all normal store operating expenses. 7 – Eleven’s corporate office even pays for the franchisee’s water, sewer, gas, and electric utilities.
- Initial investment: from $37,550
- Royalty Fees: Varies
5. DASH IN
Dash In is a popular gas station and convenience store franchise opportunity with multiple revenue layers. It also entails that every franchisees have more opportunities to achieve growth and success when compared to other franchised convenience retail concepts. Dash In wants franchisees to be successful over the long term.
Note that the company’s decades of experience help potential franchisees to determine whether they are a good fit. Every successful franchisee with DASH IN must share some common traits and professional experiences with the company.
- Initial investment: from $138,600
- Royalty Fees: 5.5%
6. STREET CORNER
The Street Corner Urban Market concept sets the company miles apart from traditional, mainstream convenience stores that lack soul and vision. Have it in mind that becoming a Street Corner franchise owner is a proven way to affordably build your own business, and you’ll gain access to high – quality design plans, vendors, and hands – on training.
Street Corner also offers a Territory Representative Agreement (TRA) that provides a Master Franchisee with a guaranteed, protected territory in which they may develop their own network of stores.
- Initial investments: from $99,400
- Royalty Fees: 4.95%
7. CIRCLE K
Circle K is one of the well known convenience store brands, known worldwide for quality products and great customer service. Circle K boost of a rich history of franchising outside of the U.S. & Canada, and plans to grow with strongly capitalized, established operators.
From the moment you contact a Franchise Development Manager, to the day your site opens for business, the knowledgeable and committed Circle K Franchise team is dedicated to supporting you. Whether establishing new locations or converting existing properties, Circle K offers benefits to every kind of franchisee.
- Initial investment: from $185,500
- Royalty Fees: 3 – 7.5%
Based on the level of investment that is required to build and launch a full service truck stop, new truck stop entrepreneurs are advised to consider buying a franchise and get assistance with planning, development, operations and other prerequisites. Designed to attract truck drivers, as well as American families on cross – country road trips, these bright, clean, sophisticated facilities differentiate themselves with offerings and convenience.