The Gas Station market size is estimated to be worth over $85 billion in the United States in 2021 and to increase by 5.6%. Although gas Stations are necessities to everyone, the market size has decreased faster than the Retail Trade industry. With the current worldwide pandemic the need for gas stations may have lessened, with people not traveling as much as they used to, but as the world reopens again there will be more vehicles on the road.
Similarly, Convenience Stores have also seen a decline in revenue due to the worldwide pandemic, but this will slowly start to increase again and is predicted to rise by 6,0% in 2021. Regardless of the status of the world, people will always need a Convenience Store or Gas Station to fill up their tanks.
FYBN, otherwise known as Flip Your Business Now, gives business owners interested in owning a Gas Station or Convenience Store the opportunity to purchase one to their liking, conversely, they also give store owners the opportunity to sell with more ease – from the comfort of their own home. The company is pleased to introduce their new CStore Business Valuation App.
The Most Frictionless Process Available
The Flip Your Business Now Business Valuation App is the nation’s first Retail Business Sale Tool that will calculate the value, also known as Goodwill, of a business, whether it’s a Gas Station, CStore, Grocery Store, or Truck Stop Business. It’s calculations are based on the last three months trailing averages of Inside Sales. It also takes into account incomes and expenses and other soft parameters and factors that contribute to the reliability of the business.
The Flip Your Business App, which is downloadable from the Apple App and Google Play stores, has already had considerable activity come through it. As per their Trailing 12 Months CAGR, there have been over 400 million deals requested and almost 60 million deals executed. With the most ‘frictionless’ process available, FYBN offers a step-by-step process to use the app.
Once downloaded the business seller will be required to provide necessary information about their store, including the following: Utilities and Expenses, Mortgage and Rent, Additional Incomes, Rental Incomes, Payroll Expenses, including Payroll Tax Expenses, Lease Term Availability, Jobbership Term, Game Machine Term and more.
The FYB App also asks various detailed questions that cover all aspects of the business to determine its value, these range from the following: Are there pending repair works? Are all licenses active? Are the employees courteous? Are the restrooms clean? What are the store hours? Who are the nearby competitors? Are there any fuel supply rebates?
How is the Selling / Buying Process Done?
The selling and buying process is done through digital signatures, and the buyer will need to sign a Letter of Intent and transfer the Earnest money to the escrow, then set a day for physical Due Diligence to review the condition of the property and its assets, set the date for Inventory and Closing, after which the Bill of Sale and Leasing Documents can be signed and the final payment transferred to the escrow to close the deal and take over the business.
FYN also offers financing to accredited and qualified buyers, who can view the interest rates from the FYBN App. There are numerous featured Georgia opportunities available to view from the FYBN website, these include various prominent energy and petrochemical companies like BP, Texaco, Exxon, CITGO, Chevron, Shell, and Valero.
FYBN has had positive reviews thus far with many showing their excitement about being able to sell their gas stations online. The convenience of this online service is what makes FYBN a new way of doing business in one of the most neglected and untapped business markets. Currently working on various active deals, the owners at FYBN states, ‘EV is hype, AV is future, whatever they travel with AV/HV/FV, we are here to serve them when they take a break’.