The Economy of Gas Stations

Goals:

To find out about the economy of gas stations, specifically surrounding how they operate, the margins, the demographics of people who own gas stations, where the most successful (most profitable) gas stations are located, the metrics used to measure the success of gas stations, the major players in this industry, how these gas station convenience stores are stocked and how often that happens.

Early Findings:

  • This source provides some interesting market data from a study done in 2019 by Market Force Information (Market Force), a leader in customer experience management.
  • According to this source, the age demographics of people that own gas stations in the United States tend to be older. While small businesses in general are referenced, gas station owners are mentioned.
  • According to this article, gas station retailers have an average margin of just 5 cents per gallon.
  • GasBuddy Lists the Best 'Overall' C-Stores in the U.S. in this source from 2018.
  • Gas station convenience stores "attract more men than women, which stands in contrast to other consumer product channels. Also, much of this channel’s revenue comes from households with incomes of less than $70,000. In fact, just 28% of convenience/gas station revenue last year came from households with incomes of $70,000 or more, well below the 46% across all retail."

Proposed next steps:

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