If you passed by a prominent advertisement for a gas station for sale that offered a high-traffic spot next to a major highway with quick and easy “on and off access”, pulling in sizeable profits throughout its 24 hour-a-day schedule, you would likely consider this to be a fantastic business to buy. Unfortunately, it’s also an excellent prospect for a aspiring thief. Just imagine – he or she could pull off the interstate in the middle of the night, rob the gas station and disappear. You may also think that a problematic employee could be stealing from you throughout the night when you’re sleeping at home.
Crime is an unfortunate fact of life and everyone needs to be concerned about it. So, don’t forget, if you’re considering buying a gas station or convenience store, you might have to deal with any or all of the following:
• Violence or armed robbery.
• Stealing or pilfering by employees.
• Under-age sales of tobacco or alcohol – especially should you hire a kid to work the night shift who may be inclined to “supply” his or her friends.
• Shoplifting.
One or all of these problems could potentially effect you, so you need to initiate certain strategies to mitigate their effects:
1. While hedges and fences may make for an aesthetically pleasing location, they are not very sensible as they can become sight-blocking features. A criminal could hide a getaway vehicle or himself from view.
2. Criminals are quite a bit less likely to go after an establishment if they have to park their car there, or walk through a particularly brightly lit area. Make sure that you install the best quality and brightest lighting features you can find.
3. Utilize state-of-the-art surveillance systems, both inside and outside the store, and proudly display large signs which clearly state that you have excellent cameras which are monitored 24 hours a day, 365 days a year. An excellent surveillance system can prevent all sorts of crimes, both by your staff (shoplifting) and by potential customers.
4. These days inventory can be controlled and monitored and you should install the latest equipment. You can even monitor it remotely. Inventory losses will become apparent immediately. Don’t worry if your employees are taken aback by this introduction, simply tell them that it is for “their own good”. Besides, you have to watch them as well.
5. Upgrade all the exit doors from your building and fit the best locks you can find. Try and discourage your inventory from “walking out the door.” You should be able to deter a late night employee from helping his or herself to a case of beer or cigarettes.
6. Make sure that you eliminate the number of “drive-off’s.” Outdoor video cameras can certainly help to alleviate the problem of people filling up tanks and driving away without paying. Better yet is to have a “pay at the pump” system or pay before filling policy. At night, you should make sure that customers must prepay before they can gas their tanks.
7. Consult with the local police to get an informed picture of any problems in your area. Whilst the seller may not be particularly forthcoming with details, you should nevertheless ask. Do conduct your own comprehensive research however.
8. Protect yourself against major financial losses that could be incurred should an employee be injured during a criminal act. You should try and cover all eventualities.
There isn’t any business which can be made totally free of crime, and this definitely goes for a gas station and convenience store. You can certainly reduce the threat by taking precautions and installing the simple preventions outlined here.
Richard Parker is the author of the How to Buy a Good Business at a Great Price series. As President and founder of Diomo Corporation – The Business Buyer Resource Center, his materials, seminars and consulting have helped thousands of business buyers realize their dream of buying a business.
- Is a Gas Station and Convenience Store a Good Combination to Buy? A few decades ago, a gas station was simply a...
- Successful Strategies for Purchasing a Gas Station or a Convenience Store Just about anyone involved with real estate will tell you...
- How to Dominate The Market with Your Gas Station and C-Store When you buy a gas station and c-store, don’t just...
- Key Customer Loyalty Strategies in the Gas Station and C-Store Business When you buy a gas station and c-store, don’t just...
- Surefire Tips for choosing between a Franchise and Independant Gas Station If you’re thinking of buying a gas station, good idea!...