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Status: (6) Mercedes
Joined: Jul 2007
Posts: 487
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Expertise: Fastlane Student
Locale: North Carolina
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Re: Buying a Gas Station
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Dec 3rd, 2009, 01:15 AM
#6 (permalink)
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I am in the foothills of NC. West of Winston Salem. Heavy farming area....and really the main customers are
1. Farmers and the workers they have
2. 8-5 workers who spot in the am before going to work and maybe after some as well.
I really think it is a manner of just managing the business at this point. The location is well established, it just needs to be ran tightly and after a year or so, I THINK the business will be back to a solid level of cash flow.
A good chunk of the land it is on is just open field, which could be used to develop some rentals in the long term.
They have done some upgrades to the business since purchase. Put in a well (spelling?), new roof, security system (can't do anything when your own kids steal from ya though!).
Will keep you updated when I have more to report....
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