If you’re to consider purchasing a gas station, perfect idea! But should you purchase a franchise or an independent? To make certain you’re taking the most sensible decision, pass some time thinking of deep responds for enquiries like these:
Question #1: Who will handle environmental problems?
Environmental conformation issues are the most considerable hardship in purchasing a station. If you violate environmental laws, and have to pay for expensive clean-ups or new gear, it could be the termination of your enterprise. I’m not overdoing! Here are some issues that you might not have thought about . . .
* Underground leaks. If one of your Gas franchise tanks leaks, who pays for the clean-up – you, or the gas company who sold you the franchise?
* New gear. If every station in your state is abruptly demanded by law to set up a new sort of vent for underground tanks, you will be required to pay for that gear if you’re an independent.
* Site remediation. If you sell your Gas franchise station, who pays for taking away the underground tanks, cleaning up the soil and acquiring the certification that states your property’s remediation (clean up) has been authorized by the state?
Question #2: If you purchase a franchise, can you cease worrying yourself about environmental problems?
As a whole, the respond on this question is yes. Your main company (Exxon, Mobil, etc.) will set up any new gear that the state demands, and will intervene to manage the clean-up if one of your tanks abruptly acquires a leak underground.
Yet, you had better never make any assumptions in this area. You and your lawyer want to cautiously check up on every detail in the franchising arrangement to determine precisely what is carried off, and what’s not!
Question #3: If I’m purchasing an independent, what do I actually possess?
If you purchase a limited independent station with no associations with a leading brand of gasoline, the answer to that question is somehow straightforward. You’re plausibly purchasing the Gas franchise business as an entity, in addition to the real property where the business is set, along with the tanks, pumps and other gear that you’ll want to sell gasoline. Yet, the procedure can become intricate in some way if you are purchasing the business, but not the real property (land, constructions). You and your lawyer need to pin everything down.
Question #4: If I am purchasing a franchise station, what do I actually possess?
The Gas franchise responds on this enquiry can be more refined than you’d anticipate. After your gas purchase, for instance, you might fetch up possessing the construction – but not the land and gear, which are possessed by the main company. Or you could rent the construction and the land, but have the canopies, pumps and other gear possessed by the main company.
Keep in mind that various gas franchising establishments organize their ownership packages in totally varied methods. To determine if the arrangement is suitable for you, you’ll be required to look into all franchise programs and documents closely with your Gas franchise lawyer.