Is it's good idea to buy a gas station now that electric cars are coming?

Question

Does anyone out there own a gas station? Hey guys! I'm just leaving high school now and I know a bunch of business men today that own gas stations and they make well over 200k a year (profitable stations). Of course I know that owning a business is nowhere near easy. I know little about it. I was thinking about buying a gas station later in life. Is it a good idea now that fully electric cars are coming? And can someone explain to me the process of buying a business? Thanks!

Answer 1

The money is made inside a convenience store. Most people assume that gas has a large profit margin. No way. I have travelled coast to coast in my profession and hear the same thing from anyone involved with fuel, it is a break even at best. You are really nowhere ready to even considering opening your own business. Go to work for one, work your way up to management and see what the business entails. You would be stunned at the hours required.

Answer 2

What jimbobsebring said. Remember that the gasoline engine will still be around for a very long time. First is that we are being lied to about the amount of oil in the ground to keep the prices high.



Second because we already know how to make gasoline out of sea water for a cost of about $6 a gallon and because of that, we will never really run out. Ever. And the gas from seawater is carbon neutral as the carbon that is in the synthetic gasoline is extracted from the excess carbon we are putting into it now.



And yes, you need to work your way up into the management of a gas station/convenience store first before you go out and buy a franchise yourself.

Answer 3

So you expect people to consolidate 4 years of a college business degree into 2 sentences. Ok I'll get right on that.