If you passed by a prominent advertisement for a gas station for sale that offered a high-traffic spot next to a major highway with quick and easy “on and off access”, pulling in sizeable profits throughout its 24 hour-a-day schedule, you would likely consider this to be a fantastic business to buy. Unfortunately, it’s also an excellent prospect for a aspiring thief. Just imagine – he or she could pull off the interstate in the middle of the night, rob the gas station and disappear. You might also consider that a troubled employee could steal inventory from you during the wee hours of the night when you were asleep at home.
Crime is truly unfortunate, but it’s a fact of life. So, don’t forget, if you’re considering buying a gas station or convenience store, you might have to deal with any or all of the following:
• Violence or armed robbery.
• Stealing or pilfering by employees.
• Under-age sales of tobacco or alcohol – especially should you hire a kid to work the night shift who may be inclined to “supply” his or her friends.
• Shoplifting.
As one, or even perhaps all of these issues has the possibility of effecting you, you should undertake certain proven strategies to limit their potential consequences:
1. While hedges and fences may make for an aesthetically pleasing location, they are not very sensible as they can become sight-blocking features. A criminal could hide a getaway vehicle or himself from view.
2. Criminals are quite a bit less likely to go after an establishment if they have to park their car there, or walk through a particularly brightly lit area. Make sure that you install the best quality and brightest lighting features you can find.
3. Install first-class surveillance systems both inside and outside the store and post large signs stating that you have cameras which are monitored 24 hours a day. A good surveillance system can prevent crimes, both by your employees (shoplifting) and by outsiders.
4. These days inventory can be controlled and monitored and you should install the latest equipment. You can even monitor it remotely. Inventory losses will become apparent immediately. Don’t worry if your employees are taken aback by this introduction, simply tell them that it is for “their own good”. Besides, you have to watch them as well.
5. Upgrade all the exit doors from your building and fit the best locks you can find. Try and discourage your inventory from “walking out the door.” You should be able to deter a late night employee from helping his or herself to a case of beer or cigarettes.
6. Make sure that you eliminate the number of “drive-off’s.” Outdoor video cameras can certainly help to alleviate the problem of people filling up tanks and driving away without paying. Better yet is to have a “pay at the pump” system or pay before filling policy. At night, you should make sure that customers must prepay before they can gas their tanks.
7. Consult with the local police to get an informed picture of any problems in your area. Whilst the seller may not be particularly forthcoming with details, you should nevertheless ask. Do conduct your own comprehensive research however.
8. Protect yourself against major financial losses that could be incurred should an employee be injured during a criminal act. You should try and cover all eventualities.
No business can be made completely free of crime and this goes for a gas station and convenience store. You can significantly limit the overall threat level by taking a few simple precautions and installing the sensible preventions which are clearly outlined above.
Richard Parker is the President and founder of the prestigious Diomo Corporation - The Business Buyer Resource Center. His celebrated materials, seminars and consulting have encouraged thousands of aspiring business buyers from around the World to pursue their dream of buying a business.
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