Hello everyone!
Maybe I am just thinking too far ahead, but I believe my thoughts are worth considering.
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Has anyone ever thought of owning a filling station? Oh my God! That business is incredibly lucrative.
Apart from the business I am currently engaged in, the next business I have in mind and have always considered is owning a filling station (or fueling station, as many people call it). This is one particular business where I know that the demand never decreases but instead grows daily. It is also one of those businesses where the products are not perishable. No matter how long they are stored, they do not get spoiled or become unusable. Yes, fuel stations can buy fuel, store it underground for months or even years, and later sell it at a favorable price when the market conditions change. For example, fuel prices in Nigeria have dropped slightly compared to last year. Fuel stations that keep their supplies untouched can eventually make massive profits when prices rise in the coming months. However, due to the ever-increasing demand for fuel, it is almost impossible to store it for extended periods without selling.
The business of a filling station does not rely on location to thrive. It flourishes anywhere, even in remote areas far from residential zones. As we often see along bushy and lonely roads, customers will always come. It does not matter whether there are already established filling stations in the area; customers will always be there. The only difference in areas with many filling stations is that sales might be slower, especially for lesser-known companies. However, even in such cases, patronage will always pick up, and over time, supplies will be sold.
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In my current city of residence, there is a particular area with four filling stations. Last year, another one was built and commenced operations. Everyone kept wondering how all these businesses would survive with so much competition. However, to everyone’s surprise, all of them have been running smoothly. It seems as though the city gained more customers to match the growing number of stations. This proves that regardless of location, a filling station will always attract customers. It is just like how ants can quickly detect the presence of a sweet object.
Despite all these advantages, the major challenge of owning and maintaining this business is that it requires a massive financial investment. Whether one chooses to buy an already existing facility or build a new one from scratch, it requires a huge amount of capital. The products themselves—PMS (petrol), kerosene, and diesel—also demand large funds to acquire in bulk. This is why, in most cases, this business is owned by already wealthy individuals looking for more investment opportunities to maintain and expand their wealth.
If I ever secure the necessary funds to start this business, I will definitely venture into it because it is undoubtedly a highly lucrative venture.
Thanks for reading.
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You are right that business is highly lucrative because there is no regulatory body and everyone sells at their own price.
Yeahhh. Very lucrative.
Money should come, I want to start the business 😎
Money is coming, wait for it
Aside the part that it is very capital intensive to start, it's a very lucrative business. And no, I've never thought of owning this before but now, it's like I'll consider it if I want to go big in taking a business action 😅
People like you should be having two of this, one in Warri and one in PH😎
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Thank you!