Retail fuel markets and economics have changed since Majors Management began its business in 1975. Until the late 1990s, major oil companies owned and directly operated most retail gas stations. Today, retail convenience stores (C-Stores) sell about 80% of fuel in the United States, creating great opportunities for entrepreneurs to independently own and operate one convenience store or build a bigger regional chain of stores.
For more information, visit www.nacsonline.com to download their recent Retail Fuels Report, and find a variety of other excellent resources for learning about the convenience and fuel retailing industry.
A convenience store with high-quality branded fuel that offers soda, bottled water, juice, cigarettes, lottery tickets, clean restrooms, quick meals, groceries, ATM and alcohol – plus a great location – is the right formula for gaining repeat customers and increased traffic.
Selling branded gasoline provides a familiar, reliable, competitive advantage to C-store owners who want access to branded programs and promotions, dependable fuel supply, and dedicated brand managers focused on your business success.
Half the population of the United States goes to a convenience store every day, and 35% of them go inside. Why? Beyond paying for gas or using the restroom, more and more people are buying drinks, snacks, bakery, breakfast, fast food, meals to go, gourmet dinner options, tobacco products, and over-the-counter medications. Increasing inside sales is one of the top fast-growth marketing strategies for c-store owners. People are in a hurry, and if they can grab a meal at your c-store while getting gas, instead of having to make another stop at a fast-food restaurant and a drug store, they’ll do it to save time and hassle. In fact, over 80% of items purchased in a C-store are consumed within the hour, according to a recent NACS Report. Inside sales is “one of the most entrepreneurial retail channels because it is not the convenience store of the past. It’s the convenient retailing center of the future,” said Hank Armour, president and CEO of NACS, the National Association of Convenience Stores.
Did you know...
Fuel is a product that is always in demand in the United States. In the United States, we fill up our cars about 5 times per month at about 130,000 retail convenience stores and another 20,000 miscellaneous gas stations or big-box stores.
According to the Association for Convenience and Fuel Retailing (www.nacsonlinecom):