BP GAS STATION Franchise Startup Cost, Revenue and Profit Margin
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.
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.