BP GAS STATION Franchise Startup Cost, Profit Margin, Revenue and Locations
With operations spanning decades, the BP gas station franchise has grown to become a global player in the franchise industry. Dealing mostly in petrochemical products and the provision of energy, BP has grown to be a trusted name in franchising in the energy sector. With British origins, the BP gas station has spread its operations across the world.
Advantage of the BP Gas Station Franchise
Who is BP owned by? The BP brand has been in existence for decades. Being a multinational franchise, it has developed a reputation of service excellence. With its parent company involved in oil exploration, it is only logical that franchise candidates will easily trust this franchise opportunity due to its track record of excellence.
How much is a bp gas station franchise?
- How much does it cost to open a bp gas station?
- Is bp gas station a franchise that is expensive?
- What is the average bp gas station franchise price and fee?
BP Gas Station Franchise Financial Requirements
How much does it cost to open a BP? The financial requirements to be met before owning a BP gas station franchise is set by the franchisor. The franchise candidate is required to meet up the laid down requirements before he/she is deemed qualified to own this franchise. While the franchise fee is $30,000, you will spend between $1 million to $2 million as total investment.
Own a BP service station | Service stations | Products & services
Owning this franchise requires that there would be ongoing fees apart from the financial requirements. Although the financial requirements and the ongoing fees are not in the public domain, this information should be supplied at the point of registration.
BP Gas Station Franchise Training and Support
BP makes it mandatory for all its franchisees to go through a period of training. These training routines are however split into two; training for new franchisees and that conducted for existing franchisees.
For existing franchisees, such trainings are organized periodically to update the knowledge of franchisees to new innovations within the sector. New franchisees must go through a period of training as specified by the franchisor.
For franchisees that will be employing the services of managers, these managers must also go through the training procedure together with the franchisees to enable seamless and effective operations of this franchise opportunity.
In the area of support, it there are several support packages provided, although not fully disclosed, they are solely to provide help to franchisees in the smooth running of their franchise.
BP Gas Station Franchise Contract Renewal
BP gas station has its own criteria for franchise contract renewal. This however is dependent on how well the franchise has performed under the period of its initial contract. From the onset, the franchise contract renewal terms are clearly stated to ensure that it does not bring about problems.
The franchise renewal agreement is usually implemented if fully met. The typical period of time for the validity of a BP franchise agreement is usually 5 years, after which a renewal is either made, or is wrapped up.
BP Gas Station Franchise Financing Options
The BP gas station franchise offers financing options to its franchisees. These financing options in some cases cover equipment, buildings among other things. The details of all the financing options available to the franchisee are made available to them at the point of registration.
These financing options are usually in the form of either in-house financing arrangements or in the form of relationships the franchisor has with third-party finance sources that offer financing covering either all, or specific areas of operations.
Is There Usually Room for Negotiation?
This is usually a common question posed by interested franchise candidates, and is common in the frequently asked question area on most franchise websites. There is no room for negotiation allowed by this franchisor. The reason for this rigid nature of business is mostly due to the fact that the franchise knows exactly what works for it.
Hence, it has made it mandatory that new franchisees have to abide by these terms for the franchise to be successful.
If a franchise experiences a crash, it gives negative publicity to the franchise, hence, denting its reputation. Because reputation is everything, it is jealously guarded by making sure that its terms are fully abided by. If the franchise candidate disagrees with these terms of business, they are free to seek for other franchise opportunities that offer them what they want.
The Franchise Disclosure Document
The franchise disclosure document (FDD) is usually the document containing all the details of the contract. This requires that the franchise candidate carefully goes through the contents of the document to eventually make up his/her mind on the decision to take.
A considerable amount of time is usually given to the franchise candidate to study the document. After studying this document, he/she can now make up their mind on whether to invest or not.
How to Open BP Gas Station Franchise
To Join the BP gas station franchise, an indication of interest is usually the first step to take. The
medium through which this step is taken is through the website of BP, precisely, its franchise section.
In the franchise section, all the necessary things needed for this are supplied.
An online application form for franchise candidates is supplied. All you need to do is to carefully supply the information asked. The information supplied is used to check if the applicant is qualified or not.
If qualified, he/she is contacted by a BP representative who arranges for a physical meet or virtual as the case may be. From this point, further business discussions and deliberations are entered into, eventually leading to the sale of the franchise to the franchise candidate.
The brief information supplied above is a summary of the BP gas station franchise. For detailed information on this franchise, it is advised to contact the franchise and make a formal request for this information.
BP is a multinational oil and gas company based in London. The oil and gas industry is a huge industry, so huge that the economic well being of economies depend on it. An oil and gas opportunity is one that should not be missed.
In this article, we shall be looking at BP as a company and also be examining the franchise opportunity which it presents for entrepreneurs and business-minded people.
We shall start by looking at the history of the company. We are also going to look at how much it costs to start a BP franchise and the franchise fee which the company demands from its franchisees.
We shall also be examining the training and supports which the company provides for its franchisees.
Also to be examined in this article is the terms of the initial franchise agreement for a BP franchise. We shall also examine the franchise agreement renewals which franchisees can receive from the company.
And finally, you shall receive information on how you can open a BP franchise in your location.
Is BP a Franchise?
BP is a franchise. BP is a multinational oil and gas company in England. The company was formerly known as British Petroleum.
BP was founded 18 years ago on May 1, in the year 2000. The company started franchising 12 years ago in the year 2006, 6 years after it was founded.
The company’s headquarters is located in London, England, in the United Kingdom.
BP’s corporate address is located at 1 St. James Square London, SW1Y 4PD.
The company’s first store was opened in the United Kingdom. Prior to the year 2000, the company has a very long history in the oil and gas industry as the history of the company dates back to the 1900’s.
BP is a public limited company. As a public company, BP is registered in the United Kingdom as BP Plc.
BP is primarily listed on the London Stock Exchange (LSE) with the Ticker Symbol BP. The company has secondary listings on the Frankfurt Stock Exchange (FWB) with the Ticker Symbol BPE and on the New York Stock Exchange (NYSE) with the Ticker Symbol BP.
The successes of the company are remarkable. BP is currently the sixth largest oil and gas company in the world.
The key people in the company are Carl-Henric Svanberg who serves as the Chairman of the company and Bob Dudley who is the Group Chief Executive Officer of the company.
The products of the company include petroleum products, savoury food, and automotive supplies. Also available at the company’s connect store include sandwiches, chicken, wraps, and pies including drinks.
The company has its retail outlets spread across the globe with more than 18,000 retail outlets. In the United Kingdom alone, the company has more than 300 franchise locations while in the United States of America, the company has more than 200 franchise locations.
How Much Does BP Franchise Cost?
Entrepreneurs and intending franchisees at BP are required to pay a franchise fee of $30,000 (U.S. dollar). The intending franchisees are also required to show a liquid asset of $700,000 (U.S. dollar) alongside other required fees which are to be paid by the franchisees.
BP Franchise Fee
BP requires its intending franchisees to pay a franchise fee of $30,000 (U.S. dollar). Other required fees include a 3% ongoing royalty fee and a 5% ad royalty fee.
BP Franchise Start-up Cost
Business people and entrepreneurs who are interested in starting a BP franchise are required to have a minimum start-up capital of $1.2 million (U.S. dollar) while the start-up cost is at a high of $6.6 million (U.S. dollar).
BP Franchise Training and Supports
BP provides training and support for its franchisees. The company’s comprehensive training takes a classroom format.
BP also provides support for its franchisees. The support which the company provides for its franchisees include;
- The company provides on-the-job-training for its franchisees.
- Franchisees receive local marketing support from the company.
- BP supports its franchisees with advertising.
- A toll-free line is also provided by the company for support.
- All franchisees at BP are provided with site selection support.
- BP also provides a grand opening support for all franchisees of the company.
BP Franchise Terms of Agreement/Renewal
To obtain the information on the initial terms of the franchise agreement for a BP franchise, the intending franchisees are required to contact the company directly on its website at www.bp.com.
Also, for the information on the franchise agreement renewals which the company provides, the intending franchisees can also contact the company.
How Much Does a BP Franchise Make?
One can’t really state for sure how much a BP franchise makes. How much a BP franchise can make is based on certain factors such as the size and location of the franchise.
The franchisee, however, can make good money with a BP franchise based on the success of the BP brand.
How to Open a BP Franchise
For entrepreneurs who are interested in opening a BP franchise, they are required to contact the company directly on its website at www.bp.com to fill out the franchise request form and for all franchise inquiries.