Gas stations are a highly competitive industry, and owning and operating one is a lot of effort.
It’s not just about filling up automobiles; it’s about finding and supplying the appropriate clients.
If you’re considering starting your own, you might be interested in learning how much do gas station owners make.
Starting and running a gas station will need a significant amount of effort. Not to mention the money you need to establish your petrol station.
You must decide whether or not it is worthwhile for you.
|Guide||How Much Do Gas Station Owners Make?|
|Average Income||$60,000 and $65,000 per year|
|Highest Income||No limit|
|Education Qualification||Not needed|
Who are Gas Station Owners?
Gas station owners are the owners of the stations that sell gas for automobiles.
Basically, they own the place where you go to refill your car every week or day.
They do not just handle the petrol or gas that they distribute; they also handle the amenities they offer like car cleaning service, their market, and serve their customers in the most friendly way they can.
Also they have their own workers handling this stuff, but supervision is important to maintain the quality.
How Much Do Gas Station Owners Make?
The average yearly compensation of gas station owners varies greatly based on where you live in the country.
Gas station operators in the Northeast may expect to make roughly $69,000 per year on average.
If you work in the West, you can expect to earn roughly $60,000 per year on average.
Gas station owners in the Midwest may expect to make roughly $61,000 per year on average.
In general, you can expect to make between $60,000 and $65,000 each year as a gas station owner.
Of course, whether you operate one or several stations, how many other gas stations you’re competing with, the price you can charge for petrol while remaining competitive, and other factors will all influence this figure.
1. How Much Do Gas Station Owners Make Per Gallon?
Gas Station Owners make a minimum of $0.03 per Gallon and a maximum of $0.07 per Gallon after calculating all the expenses.
2. How Much Do Gas Station Owners Make a Month?
Gas Station Owners make a minimum of $3,000 a month and a maximum of $8,333 a month.
3. How Much Do Gas Station Owners Make a Year?
Gas Station Owners make a minimum of $40,000 a year and a maximum of $100,000 a year.
Highest Salary of Gas Station Owners In 2023
Being a gas station owner, there is basically no limit on how much you can earn.
Even though the average money that gas station owners make is less than six figures, if your station is in the right place and has many customers daily, you can expect to make six figures easily.
You can also increase your income substantially by offering other amenities to car owners like more products in your shop or car cleaning service, or something else.
Is Being a Gas Station Owner Good or Bad?
As with everything, owning a business is a major headache and requires a lot of work and capital to start.
Running a gas station could become even more stressful because gas transportations are always tough, and in hard times, the gas prices fluctuate insanely to levels that could decrease the sales.
However, you could earn a lot of money on average by owning a gas station. You just need to be able to bear the hard times.
Pros and Cons of Being a Gas Station Owner
- Gas is always in demand
- You can sell more than just gas
- Low cost of employement
- Do not need skilled labor
- You get to be your own boss
- Extended hours of operation
- Risk of robberies and other dangers
- Competitive field
How Many Hours Does Gas Station Owner Work?
Being the owner of a gas station, you do not necessarily need to be at the store; you can hire a manager, and he will manage everything for you.
You can work as per your liking, but for taking care of accounts, profits, etc., and any other challenge, you might have to be always available on call and need to be active for 2-4 hours.
What is the Starting Pay of a Gas Station Owner?
Even if you have just started this business, you can make good money, and this is because of the high demand for gas.
Being a Gas Station owner, you can expect to make a minimum of $3,000 a month and a maximum of $8,333 a month.
And if you sell other items at your Gas Station, then you will be able to make more.
Who is the Richest Gas Station Owner?
Harry Singh an Indian immigrant who originally belongs to Punjab is the richest Gas Station owner.
Harry worked as a bus boy & taxi driver intially, then he started his own car mechanic shop and by 1994 he opened seven stations in New York. Today he has 45 gas stations and 55 stores.
How to Become a Gas Station Owner?
There are no qualifications to be a gas station owner. You can just purchase a gas station and become an owner if you have the capital.
Here’s how you can become a Gas Station owner:
- You will have to start by doing market research and by developing a business plan. Everything should be on paper first, and once you have a blueprint, you can get on to the next step.
- Now, choose a business name, and it is registered.
- After this, you will need to register for taxes.
- Now you can choose to buy a franchise or invest the money yourself.
- Once you buy the property, you have to now secure a gas supplier contract, followed by obtaining the necessary permits and licenses.
- You will also need to get business insurance, hire employees and do marketing to attract customers.
To conclude, being a gas station owner is definitely not easy.
You first need a huge amount of capital to just purchase the gas station and then possess the necessary knowledge to keep the business going, and it requires a lot of work and time.
How much do gas station owners make when they first buy the station?
You will inherit an already working gas station, so it totally depends on the current business and how much it earns.
How much do gas station owners make in times where gas prices increase substantially?
When gas prices increase or decrease, if the increase is not so high, you will be okay as everyone needs gas to use their cars, and this won’t affect you too much.
How much do gas station owners make from their stores?
One of the main income points of gas stations in the store that it has where people can buy certain stuff from food to other basic things. This could easily make up around 50% of your income.
Shefali Jain is a Content Writer & Editor at USWorkforce.org
After completing her graduation in hospitality, Shefali decided to follow her passion and started writing. Shefali has been writing for two years now and contributes to our website as a skilled editor and content writer with strong research skills. Writing product and service reviews, biographies, and book reviews are some of her key areas, among many others in which she specializes. In her time at the organization, she has written and edited content on a range of topics, including employment law, human resources, and business management.