New Year’s Resolutions for Gas Station Owners
Posted on January 1, 2020
Like all resolutions made most fail by mid-February. So perhaps thinking of them as resolutions to increase your profit line is a better way to think of building your gas station business. These are some ideas that will help you grow your business and get you ready for a successful 2020.
The EMV deadline will not be budging anymore. For gas stations that are not complaint yet or started the process, this is your #1 priority. With so many gas stations requiring equipment upgrades or new equipment, there is a huge demand for technicians. This means that the wait time may be a while so planning now is necessary. You do not want to miss the deadline and face the financial risk with the liability shift.
Are your gas pumps running slow? There is nothing that bothers a customer more than a slow gas pump. If you are finding that your gas pumps and dispensers are running slow, then you will need to either find the problem or upgrade.
Start with checking your filters, they are the most critical element when it comes to fuel flow. If you are not changing them regularly, it is time to implement a schedule. Routine maintenance goes a long way with keeping your gas pumps flow at optimal speed.
If this is not a fix, and you have checked your nozzles, then it is time for you to look into getting new gas pumps or dispensers. While this may not be in your budget, for full replacement, an alternative option is to purchase reconditioned gas pumps and dispensers.
Assess Your Services and Convenience Store
If you haven’t added new products or services in a while, January is a great time to kick off the year with a new exciting option for customers. Consider the requests that you have received within the last year. Do they make any financial sense? Launching a new service or product can bring renewed customer interest and purchasing.
You can also market current products or services with a spin, adding new life to it. Incentives to the car wash you already have. Offering a buy 1 get 1 or punch cards for coffee. Sometimes it is just about offering a deal that will bring a customer in from the gas pump into the store.
Upgrading your equipment can make daily operations more efficient. It can also bring in new business.
Improving your point of sale (POS) system will make your convenience store run faster and smoother. Which is certainly a positive for the customer experience.
Upgrading your gas pumps and dispensers is another improvement whether it is for modernizing or branding. There is the option for upgrading with reconditioned gas pumps and dispensers, which makes more financial sense as the cost is better for your budget. You will also gain warranties for the new equipment so your maintenance margins will decrease.