Don’t Open A Gas Station Until You Watch This!

Is starting a gas station business a smart investment? It was for Parm Bhullar, who’s grown a $1 million investment into $37 million in yearly revenue. We’ll hear her insights on how to open a gas station in this interview.

Parm and her business partners had more than 15 years of experience in the retail industry, along with a shared passion for small business ownership. She’s been a gas station owner for 3 years and now owns 8 Arco and Shell stations throughout Washington’s Whatcom county. Their gasoline stations have been growing revenue year over year even through COVID’s impact on gas sales.

One of Parm’s greatest strengths as a gas station owner is that she’s a people person who loves the customer service side of the industry. We’ll find out what she does to create a great customer experience, as well as what approaches work best for bringing in new customers when you first open a gas station. She’ll also share her tips on writing a gas station business plan, and what processes and systems she put into place early that allowed their business to grow quickly.

Building a solid team is another key step to starting and running a successful gas station. We’ll ask Parm where she finds reliable employees and how she attracts and retains them to keep all of her locations running smoothly. She’ll also share how she manages and leads her team, and what tools and systems she uses to schedule her team and keep track of their work.

Anyone wondering how do you start a gas station business or any retail-oriented business, will want to hear Parm’s insights.

And if you’re looking for more advice on starting a business, here are some videos you can check out:

How to Write a Business Plan (You’ll Actually Use) ►

How to Start a Business in 2021 (A Step-by-Step Guide) ►

Resource:

Timestamps:
0:00 Intro
0:34 Meeting the Co-Owner of 8 Gas Stations
1:30 First Time Buyer Advice
2:22 Business Runs on Family
3:40 How To Decide Branded or Unbranded
4:44 Required Skills For Success
5:30 The Importance of Location
6:26 A Unique Type of Marketing
7:42 How To Keep Costs Covered
8:11 Pricing Strategies
9:03 How To Beat Competitors
10:28 Becoming a Millionaire
10:55 Inside Store Sales vs Outside Store Sales
11:56 The Perfect Gas Station Team
12:56 The Key To Keeping Your Gas Station Safe
13:55 System and Processes
14:49 Finding The Perfect Gas Station Brand
15:22 The Best Maintenance Routine
16:40 How To Determine Your Business Hours
18:31 The Secret To Bringing in More Customers
19:31 The Items You Must Always Carry
20:16 The Secret To Hiring Great Employees
21:40 Pros and Cons of Buying a Station
22:43 Special Licenses and More
23:40 Fears and Doubts
24:26 How To Manage Seasonalities
25:10 When To Expect Profit
26:03 Your Favorite Type of Customers
27:13 Is It A Good Idea To Go 24 Hours?
28:07 The Pandemic vs Gas Stations
29:02 Favorable Things as a Gas Station Owner
29:49 How To Create The Best Experience for Customers

#gasstation #gasstationbusiness #howdoyoustartagasstationbusiness

[privateequityguy]

To everyone who has started or is thinking of starting their own business: *Believe in yourself and never give up.* If you can work 8 hours for someone else. You can work 2 hours for yourself.

[edmund]

This interview is GOLD to any business minded person. Thank you so much for asking the "real" questions most interviewers are afraid to ask. And also thank you to all the business owners who are willing to give you specific answers instead of vague answers.

[farayolaolatunde]

This is absolutely an eye opener, my family run 7 gas stations in Nigeria, sold two in 2019 due to poor economy. Been looking to how we could bring our business to the western world and this interview really answered 70% of my questions. Many thanks for this video.

[tahmaskenchers]

Love how you ask the questions that normally an interviewer would be afraid to ask cause it got too much into their business, but you got right in there and asked the questions i would ask if i were there. Good interview

[paramjitchhokar]

Hi everyone, thanks for watching this video. Few of our viewers had some questions about taxes and wages. I would like to let everyone know that every business here in the USA has to pay taxes whether you are a US citizen or not. Second, when the video was done the minimum wage in our county was $13.69, our new hires started at $15-$16 an hour plus gas cards. The wages are increased after 3, 6 and 12 months of performance review.

[brentcos]

This content is GOLD! Rarely do we get to hear about the nitty-gritty financial details of small businesses and what makes them 'win'. This interview is outstanding!

[hiteshreddy]

This channel is truly empowering small & medium businesses and future business owners. Kudos to the entire team of UpFlip.

[isaacalexis]

You Really are a HIGHLY SKILLED Interviewer. Great Job. The owner was Super Friendly and Transparent so that helped a lot too.

[poojanpatel]

This interview videos are quite better than what mainstream channel produces.
Big thumbs up for hitting majority of business aspects of gas station business in your questions.

[coolvideos]

Honestly, this is the best interview ever. The interviewer was outstanding, and the owner was so nice and kind to share her knowledge. Kudos 🙏

[strauss]

Nice to see how Parm was very upfront and honest with all the information regarding her business. Great video.

[ashman]

$37m sounds like a lot of money but remember it’s the revenue. The billion dollar question is what is the profit margin. Some businesses makes a lot of revenue but their cost of goods and fixed cost eats up most of that and left only a meager amount for profit or even worst, running at a lost...

[Phil-pdte]

Knowing your customer is crucial but also supporting your employees is even more crucial. Employees are the company's front person. There are convenience marts I will not go to due to employee attitude and lack of cleanliness.

[mthethuvumilempofu]

I was trying click on a different YouTube video and I clicked on Upflip advertisement..this is the best mistake I have ever made..I have been binge watching your videos..extremely educational and informative..I love it!!! You got yourseld a new subscriber !!!

[begreatbeu]

Keep up the great work UPFLIP! I am a new subscriber and I must say I am very impressed with everything and ability to get business owners to open up and at least appear to be honest with the audience.

[SidewaysInTraffic]

Great episode... I worked at Am/Pm for 6 years. The case of beer, cigs, had set prices & the 20oz sodas were pretty much locked in too. The profits came from the fountain drinks which is around 80% profit margin and the carwash since I'm here in CA. Really enjoyed this one.

[iRiShNFT]

Amazing how open, honest and comprehensive this is ... I have no interest in buying or owning a gas station or any property but this was a pleasure to watch just from pure information and understanding of the sector. Thank you to the owner and to the interviewer Mega BrainFood

[JCES]

My most Sincere appreciation .
It only confirms that customer service is huge and what husband/wife unity can achieve.

[NaimbaiNjerakey-tkbt]

I am from Chad and I am presently pursuing my Master's degree in management the U.S. I just discovered this channel and must confess that I am learning more from this channel than in my Business classes. So practical and in tune with reality.

[wavemaker]

Very good interviewer and very good interviewee.

Parm is very open about her business. She really is an amiable person. No wonder their business is thriving. Good job!