Gas Station Business 101 Podcast - How To Start, Run And Grow A Successful Gas Station Business

Remember the store I helped some investors buy in 2015 that was losing money? I shared two updates so far and now here is the 3rd one about how that store is doing now. This is a long awaited episode, but here it is. Enjoy! Welcome to Gas station business 101 podcast, I am Shabbir Hossain, and this is episode 61. This is the show where we discuss everything under the sun about the gas station and convenience store business, how to buy these businesses, how to operate them and how to grow them to be a million dollar success. Now on to the show..... On Episode 23, I brought you a real life store sales data and analysis, where I was helping a group of buyers decide if they should buy a location or not. If you recall, in that episode I published the real sales figures of the store and some projected ones as well. Based on their sales data I created some P&L's of my own and it showed for the month of October the seller had lost about $2500. But despite the fact that the store was losing money, I did go ahead

In this 2nd part of our last Q&A episode, I answer remaining 5 questions all related to buying gas stations and how to understand the numbers and if the stores are really making money or losing money. I also answer questions about how to grow your business with financing and how to take on a new partnership. I think you may find this episode helpful if you are in the market to buy a business. Here I analyze some sales numbers and see which ones are making money and which ones are not. Stay tuned. Welcome to Gas station business 101 podcast, I am Shabbir Hossain, and this is episode 60. This is the show where we discuss everything under the sun about gas station and convenience store business, how to buy these businesses, how to operate them and how to grow them to be a million dollar success. Question #4 Hope this email finds you and your family well.   I personally want to thank you for writing a book about Gas Station Business. You have explained very well process of how to buy and what to keep in mind

In this episode, I answer three questions all related to buying gas stations and how to understand the numbers and if the stores are really making money or losing money. I think you may find this episode helpful if you are in the market to buy a business. Here I analyze some sales numbers and see which ones are making money and which ones are not. Stay tuned. Welcome to Gas station business 101 podcast, I am Shabbir Hossain, and this is episode 59. This is the show where we discuss how to start, run and grow a gas station business successfully and give you an inside look at many real life case studies so you can follow and be successful in this business. First my apology once again for not coming up with an episode sooner, I was busy with a few projects and had to put the blog and the podcast on the backburner for just a bit, but I am back, and hopefully I will be posting new episodes sooner rather than later. I still haven’t forgotten about the episode I promised you where I would share the new P&L of th

I am sure you have seen a gas station or two that are closed up in your area and wonder why did someone close it or if you should buy it, or would it do great business if you start it up? Listen and find out as I answer 6 burning questions from our listeners in this episode. Welcome to Gas station business 101 podcast, I am Shabbir Hossain, and this is episode 58. This is the show where we discuss how to start, run and grow a gas station business successfully and give you an inside look at many real life case studies so you can follow and be successful in this business. First my apology for coming up with an episode sooner, I was little under the weather at first then got busy with a few projects and had to put the blog and the podcast on the backburner for just a bit. Well, we all have to make money to survive right? I was doing just that too. But I am back, and hopefully, I won’t take much breaks anymore. Even though I told you in the last episode that this next one will be about the update and P&L of t

I get asked this question often, and I have tried to answer them before as well, but let’s answer it once again in very much details so we can clear up any and all the confusion, let’s discuss how you can figure out how to calculate your fuel profit precisely and accurately. Welcome to Gas station business 101 podcast, I am Shabbir Hossain, and this is episode 57. This is the show where we discuss how to start, run and grow a gas station business successfully and give you an inside look at many real life case studies so you can follow and be successful in this business. Before we start, one important announcement, my new email server is working beautifully now, so if you are on my email newsletter list, I am sure you already noticed you are receiving my seven very important how to find and buy a gas station email series. If any of you are not receiving these emails, please sign up again, and that should solve the issue, you can simply go to http://gasstationbusiness101.com/subscribe or go to my blog at http:/

I want to tell you about five proven marketing strategies that have worked for me for last 18 years. But remind you they will sound silly at first, but I want you to hear them out in their entirety before you knock any of them out.  After you hear me out then maybe you can go try them in your business and see how your business rises to the top. Welcome to Gas station business 101 podcast, I am your host Shabbir Hossain, and this is episode 56. This is the show where we discuss how to start, run and grow a gas station business successfully and give you an inside look at many real life case studies so you can follow and be successful in this business. Here are five silly sounding strategies you can take and become a unique retailer in your area. Trust me they work; I have tried and tested them for last 18 years. Just trust me on this okay? Before you knock these proven ideas, hear me out, let me explain each and you will see and hopefully agree with me. So here we go... Know your Customer Give them something f

How can you tell if an employee or customers are stealing from you? How do you know someone is not stealing your beer, cigarettes or other merchandise? Is your business losing money every day and you just don't know about it? Let's see how a great inventory management system can help you stop the leaks, stay tuned.. Welcome to Gas station business 101 podcast, I am your host Shabbir Hossain, and this is episode 55. This is the show where we discuss how to start, run and grow a gas station business successfully and give you an inside look at many real life case studies so you can follow and be successful in this business. The topic today is How to have an effective Inventory management system. Sounds complicated? It is really not, I will not be talking about any complicated computer program or any such things. Instead, I will take a very simple decade old method that business owners used for years. If you recall from my previous episode where I talked about various types of theft, then you may recall there are

Once you finish the construction of your new gas station how do you get it open up for business? How to pass the inspections, how to merchandise, how to get everything ready, let's discuss and let's see if we can finally open your new store for business. Stay Tuned... Welcome to Gas station business 101 podcast, I am your host Shabbir Hossain, and this is episode 54. This is the show where we discuss how to start, run and grow a gas station business successfully and give you an inside look at many real life case studies so you can follow and be successful in this business. Today's episode is the third and final part of How to build a gas station from start to finish. In this episode we will discuss: The final inspections (Building, fire, electrical and most importantly the health dept. inspection and what they look for) How to merchandise your store for the first time How to hire people How to train them When to buy your first load of fuel How to set up your POS How to set up all the pricing The actual openi

Would you like to know how to build a gas station from ground up? Do you wonder what all it takes to build one of those? Let's discuss what it takes to build a gas station from start to finish. Stay tuned... Welcome to Gas station business 101 podcast, I am your host Shabbir Hossain, and this is episode 53. This is the show where we discuss how to start, run and grow a gas station business successfully and give you an inside look at many real life case studies so you can follow and be successful in this business. Today's episode is the second part of How to build a gas station from start to finish. The idea for this topic came from a long time listener name Shahnawaz so this episode too is dedicated to him. A big thanks goes to Shahnawaz for bringing such a wonderful and important topic to the forefront. If you recall in the last episode we spoke about: Site Selection Basic Market research Market study done by oil companies) Zoning Traffic count Demographics # of Competitors What size to build How many MPD

Would you like to know how to build a gas station from scratch? Do you wonder what all it takes to build one of those? Let's discuss what it takes to build a gas station from start to finish. Stay tuned... Welcome to Gas station business 101 podcast, I am Shabbir Hossain, and this is episode 51. This is the show where we discuss how to start, run and grow a gas station business successfully and give you an inside look at many real life case studies so you can follow and be successful in this business. Today's episode idea came from a long time listener name Shahnawaz so this episode is dedicated to him and thank you Shahnawaz for bringing such a wonderful and important topic to the forefront. He sent me a list of questions to answer, and these questions are: What are good traffic count #s that make a profitable gas station site? What are good income level demographics that make a profitable gas station site? What are good population density demographics that make a profitable gas station site? How far away f

In business we all have to do some degree of negotiation, when buying a home, a business or just with your suppliers or vendors, but we don't get to win each time, but we should win if we know and practice this 13 negotiating skills, stay tuned and let's find out what and how they work Welcome to Gas station business 101 podcast, I am Shabbir Hossain, and this is episode 51. This is the show where we discuss how to start, run and grow a gas station business successfully and give you an inside look at many real life case studies so you can follow and be successful in this business. This episode is also important because it is based on my new book " How to Master 13 Negotiating Skills and Win in Business" that I published a few months ago, I know I didn't mention it here before, but this is one book I have been working on for a while now and was finally able to finish it. It was a soft launch, as I wanted to get some feedback from people and see what they think of this book. Now that I got some great feedback,

In this episode, I answer four very unique questions about the underground storage fuel tanks. Some of these are very unique problems; these problems can happen to any gas station operators. I highly recommend you listen to this episode and take notes... Welcome to Gas station business 101 podcast, I am Shabbir Hossain, and this is episode 50. This is the show where we discuss how to start, run and grow a gas station business successfully and give you an inside look at many real life case studies so you can follow and be successful in this business. This episode is a direct response to 4 of our podcast listeners, they all have questions regarding UST or underground storage tanks, I could have included these questions in our next Q&A episode, but I decided to keep this very important topic separated from all the rest. Back in Episode 40 and 41, I spoke at length about some of the risk factors that come with buying a gas station business, in those episodes, I covered some of the risks associated with UST. I

Did you just buy a gas station business and now finding out that even with high sales volume the business is not generating enough profit for you? Are you struggling to just meet your basic business expenses? Or are you about to buy a business that will put you in the red? Some of our listeners have just found themselves in that exact situation, so stay tuned and let's analyze all that in this episode. Welcome to Gas station business 101 podcast, I am Shabbir Hossain, and this is episode 49. This is the show where we discuss how to start, run and grow a gas station business successfully and give you an inside look at many real life case studies so you can follow and be successful in this business. This episode is a direct response to 3 of our podcast listeners and the issues they are facing about their new business venture. I won't mention them by name since I didn't ask for permission ahead of time, so I will just refer to them as person A, B, and C. Here is the situation, Person A recently sent me an email

If you are not yet a gas station business owner, then you may want to listen to this episode, as I discuss what is like to be a owner or an operator of a gas station business, what are the daily challenges, and issues we face every day, and if you are already in this business, stay tuned and see if the challenges and issues I talk about matches what you face every day. Welcome to Gas station business 101 podcast, I am Shabbir Hossain, and this is episode 48. This is the show where we discuss how to start, run and grow a gas station business successfully and give you an inside look at many real life case studies so you can follow and be successful in this business. The idea for this very episode came from David, he sent me an email asking me to explain the day to day life of a gas station owner, so David here it is.. As a business owner we all get up every morning and hurry over to our business to start our day. Every business comes with its own sets of challenges, similarly gas station business comes with its

Welcome to Gas station business 101 podcast, I am Shabbir Hossain, and this is episode 47. This is the show where we discuss how to start, run and grow a gas station business successfully and give you an inside look at many real life case studies so you can follow and be successful in this business. Today's' episode is a rather interesting one, and this idea came from Moe. Moe sent me an email about a month ago asking about this very topic as he found an opportunity to take over a store for very little money. I did answer his questions via email but I figured this is a topic that can benefit most of my other listeners. So here it is. As I said, we all know someone who flips home to make a living, and often they make good money doing so. But there is a growing market where people buy and sell gas stations for a big profit. But if you want to do this business there are few very key points you need to measure first and make sure you fulfill all those requirements. It can be a risky business, it can even be a mon

Welcome to Gas station business 101 podcast, I am Shabbir Hossain, This is only podcast show of its kind where I discuss every aspect of gas station business from how to find and buy the right location, how to market your business, how to do bookkeeping, how to minimize theft to what type of insurance do you need to have for your business. So it is a one stop shopping for any of you that are in this line of business. You may ask how does he know it all? Well I don't and that is why I go and ask the experts sometimes, and I also want your participation in this, because I know some of you out there may be great at something that I am not, so together we can share our knowledge and empower the rest of our community for a better future for our business. Sounds good? Let's get started In Episode 17(click HERE to listen to that episode or to see the show notes) I touched on this very topic briefly, but I wanted to make an episode out of it as I have had many email requesting more information on this very topic. T

Welcome to Gas station business 101 podcast, I am Shabbir Hossain, This is only podcast show of its kind where I discuss every aspect of gas station business from how to find and buy the right location, how to market your business, how to do bookkeeping, how to minimize theft to what type of insurance do you need to have for your business. So it is a one stop shopping for any of you that are in this line of business. You may ask how does he know it all? Well I don't and that is why I go and ask the experts sometimes, and I also want your participation in this, because I know some of you out there may be great at something that I am not, so together we can share our knowledge and empower the rest of our community for a better future for our business. Sounds good? Let's get started The idea of our topic today came from a gentleman name Yash, he sent me a few emails so far and in one of them he asked me to cover FSA and commercial lease, so again this episode is fully dedicated to Yash, Yash my friend, thank you

Welcome to gas station business 101 podcast. This is episode number 44. This is the only show of its kind where we focus on all aspects of gas station business and we discuss, analyze and try to improve the process by trying to see what works and what doesn't. Today's topic a very important one and it is all about commercial lease and how to read and understand this complex document. What to look for as potential problem in these leases. The idea for this episode came from two people, Yash and Jasmine, so thanks to both of you for bringing up such a good topic out front for everyone else. Most commercial leases are complex by nature as it is a legal document but it gets even more complex when it is prepared for a gas station because there are two parts of a gas station business, a convenience store part and then there is the fuel part. To understand this document fully I am attaching a full commercial lease as a sample which you should be able to download from my blog site, by going to the show notes for this

First, let's define what is passive income. Passive income a process where you earn money without being involved in the day to day business operation of the business. If any of you remember the free book, I send to everyone on my mailing list all about passive income than you know there any many ways to make money passively. It is really where you work hard at first to set something up and then sit back and watch that hard work make money for you over time. For example, say you wrote a book two years ago, at the time of wiring the book you worked really hard, you did a lot of research, and then took months to finish the book. But once you are done writing and you publish it, you can just sit back and relax and watch that book earn money for you month after month and year after year. But the same approach will not work when it comes to a gas station business. It will require a very different approach. It's not a book, not an affiliate income or commission that you will earn every month. It is a retail business

Welcome to Gas Station business 101 podcast, I am Shabbir Hossain, and this is episode 42. For those of you who are joining me for the very first time, this is a show where we discuss from how to start, run and grow a gas station/convenience store business successfully and make money. In each and every episode we discuss a new topic that is targeted towards improving your business one step at a time. Topics could vary from marketing ideas, to fuel management to bookkeeping and many more just like these topics, if you want me to cover a topic in a future episode, feel free to email me, and I will try my best to cover it in a future episode. Now here is the fun part, if you send me a topic that is valuable enough for everyone, and I make an episode out of it, that episode will be dedicated to you. Sounds good? Let's get started. Q1. How to use Facebook for gas station marketing? (Reference Episode#10) Q2. Can leasing a gas station get me an E2 Visa? ( Reference Episode#31) For answer also read my blog post by c