Gas stations are some of the highest traffic areas around and have a lot of potential for business growth, especially if they include a full forecourt with convenience stores and more. According to the Wall Street Journal, some convenience stores make a 60% profit margin on food and beverages and only a 10% profit margin on fuel. Additional revenue streams at forecourts can offer business owners an excellent way to grow their business and to offer their customers additional perks when they stop to refuel.
Food & beverages are crucial goods to sell at gas stations and forecourts. While cars receive their fuel, drivers can load up on theirs. Gas station snacks are extremely popular because they allow drivers to grab something quick and easy and eat it on the road. The most popular gas station snacks include chocolates snack and protein bars which give drivers the energy they need, and salty snacks which help them stay full.
On top of gas station snacks, prepared foods are also popular. Quick and easy meals such as sandwiches or pizza help drivers save time. Whether they need a quick lunch between meetings or on their way to their destination, or whether they’re in a rush to get home and want something simple and ready-made they can just reheat, providing accessibility to prepared foods at gas stations improves customer satisfaction as well as profit margins.
When it comes to selling snacks or prepared foods self-service options are the way to go at gas stations. Self-service options such as micro markets and vending machines help keep lines short, lower operational costs, and improve convenience. These options can stay open 24/7 without the need for extra staff, and they ensure that customers have access to these goodies at any time of day or night. This is especially important for truck drivers who work long hours and need convenient places to stop and to refuel and recharge their vehicles and bodies.
Beyond incorporating food and beverage options at forecourts, there are also other ways to expand business horizons through additional revenue streams. Electric vehicles are becoming more popular, and cashless payment solutions for EV charging stations are in high demand. Many EV charging companies traditionally require drivers to subscribe to their service and pay via a proprietary apps, but open payment systems allow EV drivers to pay with any payment system, and are becoming the more popular option.
On top of providing convenient payment options for EV drivers, you should also consider that EVs take a bit longer to charge than cars do to refuel. Though there are fast charging stations, these still tend to take about 20 minutes. Restrooms and food and beverage options can give drivers something to do while they wait, and additional entertainment such as kiddie rides and prize machines can offer a fun family experience.
And finally, having a self-service car wash on site can also help increase profit, giving drivers convenient access to another essential service. A fully serviced gas station can help businesses grow their profit margins and provide customers with more options. A leader in the payments and POS world like Nayax can help businesses brand out into these new revenue generators, increase their sales, and manage everything from one platform. Contact us today to learn more.