Hi,
I am a first time buyer and trying to figure out this gas station deal.
1- The business is only for sale around $125K.
2- The Real Estate is private and the rent is on a monthly basis around $2,250.00
3- Station averages 85000 gallons/month
4- Business is opened Monday thru Friday 7AM-8PM and Saturday 8AM-5PM.
5- the owner is willing to furnish the financial statements, inventory report and tax returns.
6- Gross Operating income = $2,505,189.59 and expenses = $2,365.682.11 and Net Operating income = $139,507.48
7- 2 employees
I understand that I need to put a business plan. Planning to put down 10-12%.
My questions are:
1- Does this look like a profitable business?
2- Will I get a break from lenders as a 1st time buyer?
3- How do I check whether there is any environmental issues with the gas stations? such as underground piping upgrade and etc
4- Will I need to reapply with the fuel manufacturer?
Thanks for your response
Pete