If the convenient store for sale is one that sells gasoline, you may be able to find out about the overall health of the business by speaking with some independent oil and gas distributors. Also, in every state there is an agency devoted to monitoring underground gas tanks, so they will be able to tell you if the business has any history of non-compliance or spills. A specialized property inspection will need to be done by someone with extensive experience in gas station properties. This report will tell you if there are any potential problems with the tanks, which could result in very costly repairs.
In addition, you will want to look closely at the traffic patterns near the store and find out if there are any proposed changes to the roads nearby that could affect the amount of traffic passing the store. Any change in traffic patterns can be disastrous to a convenience store and gas station.
There are many things to learn about before buying a convenience store for sale by owner, so it’s nice to know that there is a “Businesses for Sale” directory that specializes in this type of listing. Before you start looking for convenience stores for sale, an online FSBO directory should be your first stop.