6 Proven Strategies to Boost Gas Station Sales – In Any Economy!
When you’re shopping for a gas station or convenience store, you crave information and have a lot of questions to ask. When he takes ownership, he wants to be sure the business will make a good profit from day one. Keep in mind, though, that it’s never a good idea to settle for that scenario—here are six proven strategies for turning your new place of business into a quick money-making machine.
Tip one: be aggressive from the start and apply pressure point marketing. When a business is under new management, it’s a good time to attract new customers and ensure that your station and store become the go-to place for a lot of new people. Think of some new ideas, such as some large signs announcing a limited time price reduction or a free cup of coffee served at the pumps for the first week. Establish your brand with energetic, uniformed employees handing out coupons or other incentives at each pump. Shaming the previous owner after just a week of hard selling.
Tip Two: Get out there and find new customers by co-promoting with other merchants in your area. Tour the town and see where people are shopping. For example, make a deal with the supermarket manager to distribute your coupons if applicable. Car washes or tire dealers are great places to co-promote. Be creative!
Tip three: Start talking to your providers. Now is the time as a new owner to negotiate aggressively since you have the upper hand. Everything in your store needs to be renegotiated, from the coffee to the snacks to the magazines. Open the playing field by inviting other vendors to bid. This will focus the attention of previous providers and price reductions will follow. Be sure to set return privileges. That way you can sell additional products in your store, safe in the knowledge that if they don’t sell you simply return them and you don’t lose a hundred.
Tip four: get your family involved. If they help you through the crucial first few months of operation, you may be able to better handle upcoming payroll expenses. In addition, trained family members would be available to intervene during periods of vacation or illness, etc.
Tip Five: Review the logs and highlight any underperforming products. You may find that some items outsell others by a ratio of 2 to 1 or more. Swap out slow-selling items with new products and displays for the first few months to test the market. While some items may be slow sellers, remember not to gamble too much with your products and displays as you are trying to promote a “convenience” store and people are looking for all kinds of odds and ends. While some items just don’t sell enough, they should be there from a general perspective. Always test to see what sells well.
Tip 6: Implement proven strategies to help drive sales. For example, place a coupon display right next to the pumps or place best sellers in easily accessible places, like right by the front doors. Think about what’s popular seasonally, such as refreshing drinks, which should be placed right at your front door. Strategize some of your best-selling products and earn dividends on your balance sheet.