Thinking about buying a small gas station just outside town — it’s older but in a great spot with steady traffic. The current owner says it needs some pump upgrades and minor remodeling. I’ve been looking into business loans, but I’m nervous about the long-term commitment, especially if repairs go over budget. Anyone here financed a station like this? I’m trying to weigh the risks before diving in.
In my area, a few older gas stations have either been remodeled or replaced with EV charging spots. Seems like the ones that survived invested in other services — car washes, fast food, etc. Kind of shows how important it is to adapt if you want to stay profitable long-term.
I actually took over a station two years ago, and yeah — financing was a big part of it. I used a loan to upgrade the pumps and add a small convenience store section. It wasn’t cheap, but revenue jumped once I made those changes. There’s a lot to consider, though, especially environmental checks and permits. This page helped me how to buy a gas station with no money down on: https://eboostpartners.com/business-loans/gas-station-business/. Worth reading through before you make a move.