Trending Content - Investing, Markets & Macroeconomics Forum
Career Resources
WSO Free Modeling Series - Now Open Through
June 30, 2026
9 Free Financial Modeling Lessons
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
+Bonus: Get 27 financial modeling templates in swipe file
+Bonus: Get 27 financial modeling templates in swipe file
High Finance Applications
Guaranteed
Get at least one offer GUARANTEED
- 1:1 support
- 92% success rate
- 2,000+ mentor network
- Unlimited Live bootcamps
- AI for resume + LinkedIn
- Networking automation tools
- HireVue simulation tool
- Full course library
- Private Slack community
- 20hrs of mocks
- + much more...
No clue, but I'd wager that the situation is way different in continental EU vs USA. In the states most of a station's profit apparently comes from the stuff they sell in the store as margins on gas are extremely low - hence, you have Wawa and other big full-service + food + convenience store gas stations killing the traditional mom and pop stations.
With stations in the EU I'd assume it's way different (my experience is only with northern Spain). All the stations are small-ish (or at least I've never seen a Wawa type gas station in EU), so perhaps you can still make a good living from a traditional station there... but I may be completely wrong.
That's a good point. I would assume that in Western Europe it's very similar to the us. I am more interested how these gas station are held? Are they owned by individuals a la a franchise system?
Generally speaking gas stations in the US are not franchised but are owned by companies ranging from Exxon to Chevron. 7-11 is a very large convenience store franchisor that also owns the gas stations. They are the only one I know of.
These can be great businesses once you scale. They are very similar to a franchised restaurant - running one is tough, but the benjamins really start to roll once you start running 3+.
If you're interested in this business I suggest you read up on the public companies that do this. You can go the SEC website and read their 10-k's, which will give you a pretty good background of how the industry looks, economics, and other aspects.
Here are the publicly traded (US) gas stations / convenience stores that I'm aware of: The Pantry (PTRY) Murphy USA (MUSA) CST Brands (CST) Susser Holdings (SUSS)
There have been a few spinoffs from the majors recently - there may be another one or two that I forgot.
Good stuff, thanks lot.
Another retail spinoff I came across this morning:
http://www.bloomberg.com/news/2014-01-08/hess-files-papers-for-tax-free…
That's great, thanks. Just out of curiosity: How come you are interested in these?
I have a natural interest in unsexy businesses for a number of reasons:
1.) My dad was a farm boy and these were the types of businesses I've been exposed to for the most part 2.) I think the level of competition in these areas is much lower than the "sexy" ones. So for rockstars who are willing to slum it - there is big $$$ to be made. 3.) I'm currently working at a hedge fund and enjoy researching these types of companies.
I've long considered a transition into some of these less crowded areas. If I've learned anything from public markets investing, it's that it's usually much easier to earn outsized returns in unloved, unfollowed industries and companies.
very interesting, PM'd.
I'd like to hear more from you on this if you can. Very interesting...
txjustin sighting
What is that you want to hear more about? If it's about lower levels of competition in unsexy businesses - I think that's pretty obvious. Where are all the MBA grads trying to go? Tech, entrepreneurship, health care, and the buyside. Well, that's fine for some people, and those who make it big, make it REAL big. But, if you're average, I think you're much better off in a different industry where you can truly differentiate yourself and stand out.
A great example of this is the comparison of the airline industry and the tech industry / or pharma / or any other really profitable industry. Airlines is widely considered the least attractive and profitable industry. Take a look at the CFO's of American Airlines. They were solid businesspeople who chose a less sexy industry but were able to rise to the top.
Take James Beer. The guy has his MBA from Harvard and took a job with AA. By the way, I'm nearly 100% certain that AA does not recruit at HBS. Worked there for 15 years, ending with the CFO position. He was probably pulling in a couple million a year with great benefits and the ability to hop on any AA flight in 1st class to anywhere in the world. Once he rose to the top he took the CFO position at Symantec. Then from there he took the CFO position at McKesson. Instead of a couple of million at AA, he's making $12-$15M at Mckesson. Beer rose to the top in a less crowded industry and was able to lateral to hotter, more profitable jobs where he makes more money. I would venture to say that had Beer gone straight into Tech, the likelihood of him rising to the top would be quite a bit lower.
One of my acquaintances is a partner at Sequoia - it doesn't get much hotter than that! And he and I were talking about this and his sentiment was that in the future, the experience that will be most valued will be solid operating experience at a blue chip, brand name company. Not, sick PE or HF jobs.
I'm not saying everyone should go do that, but I do think there are very lucrative, smart areas in business that don't get much love from candidates. For those who can see outside the box and ignore the herd, great careers and money can be made.
Inventore asperiores fugit sunt. Omnis illum officiis est molestiae fugit quae itaque.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...