Petrol Pump Business Plan

However, it always helps to have a detailed business plan that you can follow while also leaving some space for the unknown. For many, a business plan will include funds required, manpower required, administrative tasks, business goals to achieve, etc.

• Source Funds

Depending on the location, you might need anywhere from ₹10 Lakhs to ₹25 Lakhs to get started with your petrol pump business. If you have the entire funding available, then that’s all well and good, you can get started with your business as per plan. However, if you don’t have the funds readily available to you, you might want to consider other options for funding your business. This can include business loans or personal loans.

• Study Competition

In order to be more strategic and make informed decisions that are instrumental to your success, it’s important that you study your competition. This can be a great way for you to understand the business model a little bit better. This will also help you recognise a number of opportunities that you can seize while also giving you an idea of the potential mistakes to avoid for success. This will help you position yourself and your business for growth and success.

• Land Required

Since a petrol pump business is one that is land-intensive, it’s crucial that you find a piece of land that’s ideal for your business model. Highways, main roads or roads where there is demand for petrol pumps but not supply can be considered. It’s also important that you choose a piece of land that is compatible with the petrol pump business model.

• Finding a location

The location of your petrol station is imperative to the success of your business. This is why it’s important to do some research and understand the location of your business better before establishing your business unit. Understand the demand in the location and compare it to demand in other locations to understand if your location is ideal for your business.