C-Stores, Travel Centers, Groceries,
WHAT WE DO
Before
FEASIBILITY STUDIES
SFS (Site Feasibility & Selection) Corporation has been performing
RESEARCH METHODOLGY
Using the latest industry, consumer trends reports and traffic data from NACS, OPIS, Claritas/Nielsen, Gallup, ESRI, et al, and our own proprietary computer model-NailedIt™-SFS insures that its projections and support data are the most accurate and current information available.
SFS further insures our accuracy by following up with each customer after their facility is opened and has built a cross reference data base-CheckIt™-to cross reference the subject site to sites with similar traffic counts, etc.
LOYALTY FIRST!
SFS has worked closely with several major chains and oil companies (Kroger, Price Chopper/Quik Trip, Shell) and independents in the implementation and evolution of their loyalty programs (also referred to as "cross marketing") and can use our experience to find the most effective program for you.
PRICING STRUCTURE
Because we keep our overhead low and limit the amount of studies, we perform in order to allow Steve Terrill to visit each site, SFS Corporation's cost per study is roughly half that of our main competition and more complete. We also offer multi unit discounts, quoted individually, based on the project.
Our cross marketing service refers to giving discounts on fuel with non-fuel item purchases to your customers and those of other retailers to create a better perception of value.
After
FAQ'S
These questions are a big part of our focus. We have the answers you're looking for.
How much does it cost to build a gas/diesel/C-Store?
Depending on the number of pumps, site prep/paving, building size, car wash, fast food, etc., a fully designed store can cost anywhere from $900,000 to $3M, not including land, and up to $10M for a travel center.
How much space will it require?
Four MPDs (Multi Product Dispensers) with a 3,500 SF building and stacking for two cars per island requires a minimum of 30,000 SF (a 150’ x 200’ footprint). With a Car Wash and 6-8 MPDs, allow at least 60,000 SF. Operator should check with the city/county to determine set back, landscaping and zoning requirements before ordering a site survey.
How much Profit can I make?
Depending on the market’s historic profit margin, services offered, liquor laws, fast food & project cost, most operators target a minimum internal rate of return (IRR) of roughly 11.5%. SFS also sees IRRs up to 25%± pre-tax.
Why build a C-Store/Travel Plaza/Truck Stop? Especially with RELATIVLEY LOW FUEL PROFIT MARGINS, SCARCITY OF LABOR, etc.?
If the operator already owns the land, especially more than 2 acres, a retail fuel outlet can valuate the rest of the land more than most other improvements. The key to competing with the "big boys" is in offering more services and cross marketing them to create a stronger perception of value AS WELL AS HIRING GOOD PEOPLE AND PAYING THEM WELL.
What other requirements are there?
The prospective operator needs to check with the city/county P & Z department to determine if zoning, PUD covenants, etc., will allow fueling. Even with “oil company” or SBA money, any new retail fuel project will require a minimum of 20% cash equity.
What size facility should I build? How many MPDs? How big of a C-Store? What about a car wash? Fast Food? Other Profit Centers? Should I raze & rebuild or relocate?
These questions are a big part of our focus. SFS Corporation makes recommendations and offers options, based on the market, competition, cost of land, etc. Our projections are based first on the accessible "street" traffic past the site, then competition, daytime population, residential density, seasonal traffic, etc.
“I contracted with Steve to do site analysis studies for The Kroger Co. and he studied over 1000 sites for us. Steve has an excellent knowledge of the gasoline / convenient store business. He is capable, dependable and an expert in his field.
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“We have used Steve Terrill as a consultant since 2011. When we are looking at a gas station / C store acquisition, Steve is our go to consulant. He is thorough and very knowledgeable. He is also responsive and his fees are reasonable.
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Steve Terrill, president of SFS Coporation, has spent 28 years as President and CEO of SFS Corporation.
SFS Corporation has seen major changes in the retail fueling industry-from technology to equipment to competition- one fact has remained constant: a good operator will survive. They survive by staying current with the industry trends, controlling their costs, hiring good people and networking with others in the industry.
New competition includes grocery stores & HVRs entering the fuel business and competing with the traditional operators in the industry. And now with the decline in traditional "bricks and mortar retailers," NTI (new to the industry) investors also see increased opportunities in the C-Store and specialty food service industries as technology continues to take convenience to a new level.
Because every investor has different requirements “for their money”, SFS’s format analyzes IRR (internal rate of return), debt to cash ratio and payback. While selling 1-2 million gallons of fuel and $1 M of “twinkies” sounds “profitable”, if the operator doesn’t know all their costs, the business will fail.
SFS Corporation has prided itself in keeping current on the latest industry trends, both positive and negative, in order to help provide this information to its customers. SFS Corporation feels the purpose of a feasibility study should be to spend “a little” before you spend “a lot.”
A Convenience Store should be convenient-starting with access. With many cities limiting and/or prohibiting full turn movement access into new site, SFS uses directly accessible traffic counts only in its projections. If the proposed site will not have access comparable to its competition within its primary market, it is probably not a feasible C-Store site.
Parking directly in front of a C-Store/Travel Center is another example of convenience. Just look at the industry leaders like 7-11, Quik Trip, Sheetz, Wa Wa’s, Turkey Hill, et al.
The future of both the C-Store and the Grocery industries will be in maximizing the concept of one-stop, value added shopping. And whether it is an on-line grocery pick-up station, expanded foodservice options, home delivery or even drone delivery, SFS can analyze what is best for each customer!
CLIENTS
Based in Overland Park, KS, SFS Corporation our clients cover all 50+ states.
“I have known Steve Terrill and used his services for over 20 years as CEO/Managing Member of Prima Marketing LLC, owner/operator of 89 7-11 stores in the Eastern U.S. In particular, I used his firm to evaluate new convenience stores and gas stations for investment by estimating volumes, margins, expenses, etc. This would also include store investment upgrades, plus ideas for improving performance, such as loyalty programs and foodservice.”
PEOPLE WHO ARE GLAD THEY USED SFS CORPORATION!
Steve Terrill personally visits each site to insure the highest accuracy. Our reports are considered by several lenders, including SBA, to be the most complete in the industry and can be used as the major component of your business plan.
Turnaround time, from contact to receipt of your study is roughly 5 weeks, although a study may be expedited. Please contact us to find out the six basic factors that make a site successful (included in our sample studies) and to get a price quote on your project and/or further discuss it.
“It’s is our 20th anniversary for working together. I drive by this site everyday and think of all the studies SFS has done for me. The information I get from the studies has helped me to build my business. I rely on the SFS studies and know that I can bank on the results.
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