Oil And Gas is one of the biggest sectors in the world, and it is one of the consumable products in the world (Africa, Asia, Europe, America etc).
Filling Station Business is highly lucrative and profitable but it is capital intensive and requires huge investment. The global demand of petrols has exceeds supply that if millions of people choose to join at the same time, they are capable of making profit.
Transportations are rapidly growing in each an every countries both developed and under developed countries. There are vehicles, cars, truck, bus and other transportation system in the world, they all need diesel or petrol to operate. In homes, factories, organizations, schools, hospitals and offices, they all need petrol and diesel in their generators to give electrical supply (power).
In Africa, Nigeria is the largest oil producing country and rank 13th oil producing country in the world that produced more than 2.6 million barrels of oil per day, and has maintained this since the last 18 years. Angola, Algeria, Egypt and Libya are also one of the top oil producing countries in Africa.
In Asia, China is the biggest oil producer accounting more than 4.8 million barrels of oil per day. India, Indonesia, Malaysia, Thailand And Vietnam are also among the top countries in oil production in Asia. Saudi Arabia, Iraq, Iran, Russia, Norway, United Kingdom, Brazil, Mexico, Venezuela, Colombia are world oil producing countries. 80% of countries in the world are involve in oil and gas. This estimates shows how lucrative petrol filling station business is.
Petrol products as a high demand business is a big investment opportunities that gives enough fuel, gasoline, kerosene for daily consumption. To be a petrol marketers means that you are your own boss.
In this article, we want to look at how to start a filling station, the requirements and cost of starting a petrol filling station business of your own.
HOW TO SET UP A PETROL FILLING STATION
Here is a guide to setting up your petrol filling station enterprise.
1. Good Research And Business Plan
To get profit in petrol business, you have to make good research and define your business goal. Decide on the petrol marketing type (Dependent Marketer Or Independent Marketer) you will be comfortable doing. You need to do a serious research before investing your money in petrol business. Learn about the petrol products, Research about Location of your petrol filling station, requirements and costs.
Don’t forget that Defining the marketing sector (whether Independent or Dependent) gives you a clear picture of your goals.
2. Determine Your Target Market
Are you interested in setting up a petrol filling station? Then make clear picture of your petrol filling station business template. Your target markets determine who you sell your petrol to.
You will need to analyze your target market and competitions included on it.
On a serious Note, your petrol filling station has to be along the urban areas so that passing vehicles can easily have access to your station.
Also note that, you are making a huge investment, and you need to carefully study your intended petrol filling station location. After this, you proceed to get Approval to start Construction.
3. Securing A Land And Construction
You have to purchase a good land at a very good location. 4 plots of land can be okay to build your petrol filling station. Prices of land varies from environment to environment. Get one that will be of Benefit.
After you must have secured a land, the next step is construction. You will need a good construction engineer who can handle the project accordingly.
4. Purchase Equipments And Machines
You will need to purchase petrol filling station equipments or machines like:
a. Fuel pumps and dispensers
b. Standby generator or Lifters
c. Storage Tank and Petrol Tanker
d. Automatic Tank Gauging
e. Submersible Turbine Pumps
f. Forecourt Control
g. Payment Solutions
h. Commercial Fuel Pumps
i. Insite360 FuelQuest
k. Spare Parts
5. Business Registration
After purchasing of land, construction of filling station and purchasing of equipments, then the next step is Business Registration. Before you launch your petrol filling station, make sure it pass through the registration process. This business is not a child’s play, is an investment opportunities which need an approval from authorities.
6. Employ Personnel’s
A good filling station should have the following workers:
This business marketing is very simple but it requires huge capital. The best way to promote your petrol filling station and attract customers is to do free give-away of petrol products. The best moment to do that is the day you will be launching your business. Create an awareness and let people know about your petrol station.
REQUIREMENTS AND COST OF STARTING A PETROL FILLING STATION
How much does it costs to open a petrol station? You will find out now.
Cost Of Architectural Drawing
You will need need a drawing for your filling station, it all depends on you. It should cost about = $3200.
Cost Of Land
To start a petrol station, you must acquire a land. As long as it is located to urban area, any land is okay. It is very necessary you acquire a land of your own and most importantly a land in urban areas.
We mean Areas that are developed. Like we mentioned earlier, Price of land varies from location to location, this is just a rough estimate.
Cost of land = $15,000.
Cost Of Constructions
Petrol station is were oil and gas are been stored and sold. Constructing a petrol station means you have to contract engineers, and laborers, carpenters & house builders are also involved.
Cost of constructions should be = $150,000.
Costs of Equipments And Machines
Since the petrol stations is made, you can now buy machines and equipments. Make sure you buy your equipments from good and reliable sources.
Both equipments, transportation costs, logistics should cost around= $30,000.
Total Cost Of Opening A Petrol Station is: $198,000, Approximately = $200,000.
What Are The Requirements For Setting Up A Petrol Filling Station?
The requirements are:
ii. Good Location
iii. A Good Business Plan
v. Marketing Plan
Are you looking for a business to invest in? Petrol Station should be considered. Petrol Filling Station is a business you would enjoy doing; It is an interesting business that is very lucrative and profitable, although it is capital intensive but it is worth for investment.