What Is the Salary Range for a Gas Station Owner?
Growth Trends for Related Jobs
The salaries of gas station owners may vary according to years of operation, location, gas brand, convenience store merchandise and operating expenses. Owners typically make higher profit margins on in-store merchandise sales, including snack foods and beverages. Credit and debit card transaction fees may negatively affect profit margins on fuel sales when commodity prices increase. Salary ranges are usually lower when an owner first acquires a gas station business, due to the learning curve and start-up costs.
After operating a location for several years, a gas station owner might expect an annual take home salary around $77,000, as of July 2011. This figure is an approximate average of business opportunity listings for gas station owners. Average annual salary might be directly affected by the number of stores owned and the owner's individual business savvy. Seasonality might affect the owner's monthly take-home pay in certain locations, especially in states that are highly dependent upon tourism. Gas stations located along interstates that travelers and truckers frequently use will also be witness to fluctuations in monthly income.
High Performance Stores
Gas station owners who acquire an established, high-volume location might expect an annual average cash flow of slightly less than one million dollars. This figure does not take into account any internal business expenses, such as payroll. High-volume stores experience average monthly fuel sales volume between 280,000 and 310,000 gallons, according to one owner who reported sales from 2010 through April 2011 . Merchandise sales average approximately between $124,000 and $142,000 per month, according to figures from the same time period. A gas station owner's annual earnings before taxes might be above six figures if he operates a high volume store in a prime location.
A high-volume gas station owner who operates an average sized location with a payroll around 13 to 15 employees might expect an annual cash flow around $100,000 to $130,000 according to 2010 figures. Profits earned from other services, such as a car wash and state lottery sales, might help supplement fuel and in-store merchandise profits. If the owner pays an outside employee or family member to manage the store location, his annual salary would naturally be less than the $100,000 to $130,000 range.
Emerging store locations that maintain a small payroll experience approximate yearly cash flows of $60,000 before taxes as of 2010. The investment costs for these locations are usually less since the business may currently only support fuel and in-store merchandise sales. The gas station owner might expect to work more hours since the employee roster might be five or less. These franchise opportunities are ideal for owners who desire to maintain a steady presence and actively participate in the store's daily operations.
Helen Akers specializes in business and technology topics. She has professional experience in business-to-business sales, technical support, and management. Akers holds a Master of Business Administration with a marketing concentration from Devry University's Keller Graduate School of Management and a Master of Fine Arts in creative writing from Antioch University Los Angeles.