The business plan is important when starting a petrol
station. The plan provides a comprehensive guide on your company structure and
workings.
It covers funding, lease agreements, purchase and estimated
cost of stocking the product. Other considerations
are building design, management and staff wages.
You need to study
your competitors, business model and profitability. Don’t forget to write an
executive summary and a mission statement.
Describe
Product and Services
It is important to describe the products and services you
offer. The main services that cut across most stations are selling of petrol to
motorists. Other services include diesel sales and selling of kerosene.
More services are vulcanizing tires, restaurant business
and fast food outlet. You can introduce a car wash and auto maintenance
service.
The additional income source depends on the vision of the
entrepreneur. You could add a grocery store, supermarket or mini mart. The major
advantage of such added services is increase in profit.
Pricing
The cost of your products depends on purchase costs and
transportation. Factor in startup cost to establish the enterprise including data
on competitors.
Other important parameters are target market, products,
advantages and disadvantages. The community, vehicular traffic and location are
other provision to include in your business plan.
How are you going to differentiate your services from
other competitors? Offer your clients added services such as car wash, quality
service and prices.
You need to find your competitive advantage to beat your
competitors. Selecting an ideal location is very important to your business.
In your business
plan showcase your comparative advantage of situating your business in that
community. Focus on business locations such as high ways and intersections.
Sales
and Marketing Strategy
You need to develop a sales and marketing strategy to
reach customers. Your business is location specific so you need to encourage patronage.
The strategy should include promotions, discounts and reward programs.
You need to erect a billboard, and signs showcasing your
prices. You should indicate any franchise agreement, conditions and contractual
arrangement.
Engage a lawyer to study the franchise agreement,
conditions and commission. Approach franchise operators that offer the best
prices and profit making.
Don’t forget staff wages including business structure and
work ethics. Your business plan should also provide information on security.
Who Runs
your Enterprise?
You need to attract investors by documenting your
management team or experience. Hire experts and people with professional
expertise. The management team will make or break your establishment.
Startup
Cost and Projections
You need to establish future plans and goals. Show growth
potential and profitability. Factor utility bills, operational strategy, and
equipment. Other cost considerations are permits licensing and franchise
agreement.
Calculate anticipated revenue, products and services. Add
a mission statement, feasibility study and projections.
Why Write
a Business Plan
The business plan is important if you want to secure a
bank loan. To secure a bank loan present your business plan, financial
statement, and investors.
The bank will ask for collateral to secure the loan. The collateral
could be a landed property, house or plot.
Other funding sources to explore are core investor, sale
of equity or share structure. To get a comprehensive business plan hire
experts.
Conclusion
You need lots of finance to run a petrol station. The funds
are used to buy products, permits and real estate.
To apply for a franchise arrangement you need funds. Decide
on the type of filling station including services you want to render.
Are you interested in writing a business plan for your
petrol station startup checkout the under listed article.
0 comments:
Post a Comment