Sageford Loans hands gas station and convenience store funding requests from Richmond, Indiana to funding partners. Wayne County, IN had 36 gasoline stations and 8 convenience stores in 2023. This page covers fuel equipment, store coolers and fixtures, buying a station, fuel loads and stock, and the funding types that fit.
At a glance
- Gasoline stations, Wayne County, IN
36, with 388 employees (County Business Patterns 2023)
- Convenience stores without fuel
8 (County Business Patterns 2023)
- Stations and convenience stores
44 (County Business Patterns 2023, our sum)
Gas Station Loans in Richmond, IN: Wayne County, IN Station and Store Counts
County Business Patterns counted 36 gasoline stations in Wayne County, IN in 2023, with 388 employees and $11.1 million in payroll, and 8 convenience stores without fuel, 44 in all by our sum (County Business Patterns 2023). 38.9% of the stations had fewer than five employees, and 25 had a ZIP 47374 address (ZIP Code Business Patterns 2023). Gasoline stations here include the stations with convenience stores, the common format.
A station is two businesses under one canopy: fuel, which moves high volume at a narrow spread, and the store, which carries the higher-margin items. Partners read both.
Gas Station Financing for Pumps, Canopies and Tanks
Dispensers, payment terminals at the pump, canopy lighting and tank monitoring systems are equipment that can be financed through equipment financing. Tank replacement or upgrades bring environmental and fire requirements, inspections and a longer project; a partner reads the contractor's bid and the regulatory sign-offs.
Convenience Store Loans for Coolers, Shelving and Food Service
Walk-in coolers with glass doors, reach-ins, shelving, a roller grill or a food-service counter, and the point-of-sale system are the store's equipment. A remodel that moves walls or adds a kitchen is construction, which a term loan carries, and it needs city permits and health review before it opens.
Loan to Buy a Gas Station in Wayne County, IN: Fuel Volume, Store Sales and the Site
A buyer of an operating station brings the seller's returns, monthly fuel gallons and store sales, the fuel supply agreement and its remaining term, and environmental reports on the site. Illustration only, invented figures: a buyer pays $1,200,000 for a station with its real estate, puts $300,000 down and finances $900,000 over 120 months at an invented 9% annual rate, about $11,401 a month (our arithmetic). The buyer sets that against the station's monthly cash flow from fuel and store together.
A term loan carries the purchase; ask whether the real estate and the business are funded together or separately.
Gas Station Funding for Fuel Loads and Store Stock
Fuel deliveries are paid for on short terms, and the store's stock is bought ahead of sales. A line of credit drawn for each load and paid down from sales fits that cycle; inventory financing fits a larger store restock. A merchant cash advance is also offered to stations because of their card volume; it is not a loan, and its total cost should be set beside a line's.
Fuel Margins, Store Sales and Card Fees at a Wayne County, IN Station
Gas stations in Wayne County, IN paid about $28,552 per employee in 2023 by our arithmetic (County Business Patterns 2023). A station's cash flow combines three streams with very different economics: fuel gallons at a cents-per-gallon spread, store sales at a higher margin, and card processing fees that come out of both.
Illustration only, invented figures: a Richmond, IN station sells 60,000 gallons a month at a spread of 25 cents, $15,000 before card fees, and $90,000 in store sales at a 30% margin, $27,000 (our arithmetic). The store produces the larger share of the gross profit in this example, which is why a cooler or a food-service counter can matter more to a station's cash flow than another dispenser.
- Monthly gallons and the spread per gallon.
- Store sales and gross margin by month.
- Card processing statements.
- The fuel supply agreement and any rebates.
Station and Store Needs Matched to Funding Types
| Station need | Funding type that fits | What a partner reads |
|---|---|---|
| Dispensers and pay-at-pump terminals | Equipment financing | Vendor quote, installation scope |
| Coolers, shelving, food-service counter | Equipment financing | Quote, store sales |
| Fuel loads and store stock | Line of credit or inventory financing | Gallons, store sales, supplier terms |
| Store remodel | Term loan | Contractor bid, permits, lease or deed |
| Buying the station | Term loan | Returns, gallons, store sales, environmental reports |
Gas Station Lenders and Partners: Equipment, Term and Revolving
Station funding comes from banks and credit unions, equipment finance companies, fuel suppliers' own programs and online lenders. Sageford Loans hands a Richmond, IN station's request to funding partners according to the need, and the partner decides. Business loans for retail cover the store side in more depth.
The county also had 16 grocery stores and 12 liquor stores (County Business Patterns 2023), which buy the same coolers and shelving.
By Sageford Loans · Updated