Below is a list of common expenses for a typical Gas Station / Convenience Store Operation. These figures are estimates and will vary depending on the location:
- Payroll: 24 Hour Locations: 720 man hours per month X $8.05 per hour = $5,796.00 per month for one employee per shift. 18 Hour Locations: 540 man hours per month X $8.05 per hour = $4,347.00 per month for one employee per shift. Add 7% for payroll taxes and workman’s compensation to get an accurate total.
- Utilities: Electric, Water, Sewer, Garbage and Phone approx. $2,000.00 per month.
- Insurance: Average liability, property and tank insurance total $7,000 per year.
- Credit Card Fees: This expense is variable based on the volume of the location. An easy way to get a close estimate is to use the following formula: Gallons per month X Average gas price X Percentage of credit card sales X 2.5% = credit card fees. Example- A location pumping 100,000 gallons per month at $2.50 per gallon, doing 35% cash business and 65% credit card business will look like this: 100,000 X $2.50 X 65% X 2.5% = $4,062.50 per month.
- Miscellaneous: Accounting Fees, Bank Fees, Lawn, Pressure Washing, Maintenance etc. $700.00 per month.