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Irish mist · 11-12-2007, 02:02 PM

Dpg......my family, grandfather & father, owned a gas station business between them for over 60 years. If not for the mechanic work, snow plowing contracts, and toward the end food sales, they could never have made a living on just selling gas, the profit per gallon is very tight. You don't have to believe it......but it's common knowledge in the business.
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LIforrelaxin · 11-13-2007, 12:25 PM

Quote:

Originally Posted by Irish mist

Dpg......my family, grandfather & father, owned a gas station business between them for over 60 years. If not for the mechanic work, snow plowing contracts, and toward the end food sales, they could never have made a living on just selling gas, the profit per gallon is very tight. You don't have to believe it......but it's common knowledge in the business.

If all this is true..... How do the people that operate stictly just gas station stay in Business.... I have several around me that just sell gas... and believe me they are not hurting.....

The truth, as long as high volumes are paired with a small profit margin it all works out in the wash.... just becuase the profit margin isn't as big as a loaf of bread doesn't mean it doesn't work.

Could a Gas station in the lakes region servive without a convience or repair operation? probably not..... There isn't always enough volume.....

Bars have one of the best profit margins I know of..... But yet I see alot of them struggle...... why? If they don't get enough volume even the best margin doesn't help.......

Argie's Wife · 11-13-2007, 01:35 PM

LIforrelaxin -

You're overlooking one major overhead cost that all business owners have to deal with - insurance. If you're employing people, you have to pay workers' comp and FICA and all that jazz. If you're open to the public you have to carry certain liability insurances. If you serve alcohol, then you probably have to carry additional insurances and have to be inspected and have to meet certain code, etc.

Oh, I could go on.... but this is why I am self-employed and will never grow my business to have employees - I work on a contract basis ONLY.

When you get down to it, the only people making money are really the insurance companies - think about it...

AC2717 · 11-13-2007, 02:48 PM

Quote:

Originally Posted by Argie's Wife

LIforrelaxin -

You're overlooking one major overhead cost that all business owners have to deal with - insurance. If you're employing people, you have to pay workers' comp and FICA and all that jazz. If you're open to the public you have to carry certain liability insurances. If you serve alcohol, then you probably have to carry additional insurances and have to be inspected and have to meet certain code, etc.

Oh, I could go on.... but this is why I am self-employed and will never grow my business to have employees - I work on a contract basis ONLY.

When you get down to it, the only people making money are really the insurance companies - think about it...

To be honest I work for an insurance company and trust me it is far from us making the real money, it goes past us to the re-insurance companies and the government, trust me, I do not want to discuss because it is another time and place and it will make your head spin

LIforrelaxin · 11-13-2007, 03:30 PM

Quote:

Originally Posted by Argie's Wife

LIforrelaxin -

You're overlooking one major overhead cost that all business owners have to deal with - insurance. If you're employing people, you have to pay workers' comp and FICA and all that jazz. If you're open to the public you have to carry certain liability insurances. If you serve alcohol, then you probably have to carry additional insurances and have to be inspected and have to meet certain code, etc.

Oh, I could go on.... but this is why I am self-employed and will never grow my business to have employees - I work on a contract basis ONLY.

When you get down to it, the only people making money are really the insurance companies - think about it...

I do think about Insurance cost when I think about these things.... And indeed rent, insurance, and tax are what close many business.... But that is all in the cost of doing business... my point is that profit margins don't matter as much as the volume and constent stream of business.....

And If you have a successful business with just yourself, I don't blame you for not wanting to grow.... being a self contractor is not a bad thing.... didn't work for me.... but I enjoyed it while it lasted.......

11-12-2007, 02:02 PM	#1
Irish mist Senior Member Join Date: Dec 2006 Posts: 686 Thanks: 128 Thanked 85 Times in 49 Posts	Dpg......my family, grandfather & father, owned a gas station business between them for over 60 years. If not for the mechanic work, snow plowing contracts, and toward the end food sales, they could never have made a living on just selling gas, the profit per gallon is very tight. You don't have to believe it......but it's common knowledge in the business. ________ Honda E Engine Specifications Last edited by Irish mist; 02-27-2011 at 11:00 PM.

11-13-2007, 01:35 PM	#3
Argie's Wife Senior Member Join Date: Oct 2004 Location: Alton Posts: 1,908 Blog Entries: 1 Thanks: 533 Thanked 579 Times in 260 Posts	LIforrelaxin - You're overlooking one major overhead cost that all business owners have to deal with - insurance. If you're employing people, you have to pay workers' comp and FICA and all that jazz. If you're open to the public you have to carry certain liability insurances. If you serve alcohol, then you probably have to carry additional insurances and have to be inspected and have to meet certain code, etc. Oh, I could go on.... but this is why I am self-employed and will never grow my business to have employees - I work on a contract basis ONLY. When you get down to it, the only people making money are really the insurance companies - think about it...