How Upgrades Can Make Your Gas Station More Profitable
Posted on December 17, 2019
With a new year on the horizon and businesses looking at new goals and revenue, it is time to consider some upgrades to make your gas station more profitable. In a time when it’s a challenge to pull in a ton of profit on gas alone, you will need to upgrade. Attention to details and added customer experiences can increase your gas station business.
How Does Your Convenience Store Rate?
If you have a convenience store, is it clean, is it always stocked, do you have a good selection of food and beverages? Improving your variety of products adds to your store’s perceived value. There are many opportunities to upgrade a convenience store, and the average revenue will improve significantly.
Upgrading customer loyalty programs or initiating customer loyalty programs with purchases. Discounts on consistent purchases, like coffee cards. Some convenience retailers like 7-11 have apps that customers earn points on purchases and can redeem for beverages or snacks.
Overall Customer Experience
If a customer feels that they are getting what they need and in a timely manner, they will return. An upgrade that can be made in improving customer service. Are the employees friendly and attentive? Are the outdoor and indoor areas clean? Is the gas station well-lit at night? Many of these are training fixes which will not cost much to improve but will make a profitable difference for your location.
Offering More Services
By offering air and vacuum machines you are going to generate more stops and customers. Whether it is for a small fee or free to them it is enticing for them to stop. If they stop for a service, they are more likely to fill up and stop in the convenience store. Car washes also are a draw and having a premium one is best to compete against other locations.
Advertising and marketing is not the way to add more value that you will not make back. However, prominent signage from the street or from the highway letting locals and tourists know that you are there. Adding more signs in key intersections will draw traffic to your gas station.
Invest in New Gas Pumps
Tanks, monitors, and pumps are important operational elements that need regular maintenance. Having pumps that are malfunctioning is the fastest way to lose the loyalty of customers. The main reason someone stops is for gas and if that is the worst part of the experience then you lost them no matter how amazing all of your other services and product are.
Are the parts showing wear and tear? Is the flow slow? Then it is time to invest in gas pumps and parts. If budget is a consideration, then purchasing a reconditioned gas pump or dispenser is an economical way to upgrade your gas station. It also makes it more affordable to invest in replacing multiple gas pumps and dispensers and unifying your gas stations look. If you are thinking of upgrading to a more advanced or technology-savvy series, this can be a way to economically do it. The options with a reconditioned gas pump or dispenser make upgrading feasible and more profitable.