If you are interested in opening a gas station, before you purchase the property and start investing in the gas station, you are going to want to hire a professional to conduct a gas station feasibility study. A gas station feasibility study will consider various factors to determine if a gas station would be able to be successful in the desired location.
Factor #1: Traffic
One of the first things that will be examined with a gas station feasibility study is the amount of vehicle traffic that goes past the location. The study will do more than record how many vehicles go past the site on a Tuesday.
A gas station feasibility study will pull data to figure out how many vehicles per hour goes past each site, as well as what type of variations there are in traffic based on the day, month, or even the season. For example, a gas station in an area that has a high tourist season and a low season would have different business potential than a gas station next to a freeway that gets traffic year-round.
Factor #2: Access
It is one thing to have traffic that goes by your desired location; it is another for that traffic to be able to easily access your gas station. You need to look at the structure of the road access and see if vehicles can easily access your gas station.
For example, if you are located near the freeway, is there an exit and roads that allow someone to easily get from the freeway to your gas station? Are there any mediums that block access from one direction to your gas station?
The structure of the road impacts the ability of a gas station to succeed and needs to be carefully studied.
Factor #3: Physical Location
Next, the physical location of the site needs to support the development of a gas station. With a gas station, the physical structure of the site has to support having gas tanks buried underground. In order to bury tanks underground, you have to have the right type of dirt that will prevent the tank from sinking. You need to make sure that the physical site supports gas trucks driving in and out with gas. You need enough space as well for the actual gas station, pumps, and parking spaces. The space has to be able to support the physical structure of a gas station.
A gas station feasibility report will study the traffic flow around the desired site, the access to the desired site, and the ability of the site to support all the functions of a gas station. A gas station feasibility study will allow you to see if a gas station would work on the site and if it has the potential to be successful before you make an investment.