If you want to build a gas station at a certain corner or you are buying into a franchise with a popular chain, then you are going to want to know how well that station will do financially. Will you have any competition from other gas stations across the street? Are they any other gas stations within a few miles of the location you are looking at? Can you make back what you put into it?
To better understand how well a gas station would do in any given neighborhood, a gas station feasibility study can be undertaken. This study covers other aspects of a gas station operation as well. Here are some reasons for conducting a gas station feasibility study before construction begins.
The Right Location For It
One of the main reasons for conducting a gas station feasibility study is to find the right location for the gas station. Unless it's an existing station with fuel tanks, pods, and convenience structures already in place, you will need to find the right location to build and install everything.
A feasibility study will determine whether or not certain corners or stretches of roads are traveled enough to warrant the expense and time to place a gas station there. Is the area an emerging neighborhood where construction of houses and businesses is in the beginning stages? Is it a mature area that is already well established but lacks enough gas stations to fill the demand for the increasing traffic?
A feasibility study can give you the details of what you need to know about a given location before you purchase the land and start to build.
Know What The Zoning Is
Part of a gas station feasibility study provides important information on zoning for the area you are interested in. You can't just buy a property that seems to fit what you are looking for and build; you need to know what exactly is permitted to be built on that site. For example, some areas are zoned only for residential premises, like detached homes, condos, or apartment buildings. Others are zoned for commercial properties like restaurants, retail stores, or warehouses.
You also can find industrial zoning areas for manufacturers and factories. You will need to know what the property you wish to buy is zoned for. There are some areas in which gas stations are not allowed due to the proximity to protected green spaces or other reasons. Check to ensure you know what the zoning is for any given area before you begin construction.