Business Opportunities

 

Fastrip operates both "company" stores and "lease" stores. Currently, we have 47 stores leased by operators. We believe that with our focus on the local community, local "ownership" of the stores is a win-win. Many of our operators have been with us for 15 – 20 years, sharing in the growth and profits that a well-run store generates. If you are interested in leasing a Fastrip, we are always seeking good potential operators who can lease a new store or take over an existing one that may become available.

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Our business model is structured so that the lease operator owns their inventory, collects the profit from all store sales, and receives a 1-cent-per-gallon commission on all gasoline sales. The independent operator is responsible for hiring and training all the employees, obtaining all required insurance and licenses, and paying all applicable taxes. Fastrip provides the building, equipment, and business support (through the District Manager, Merchandise Manager, and Director of Stores). It takes between $120,000 and $180,000 in cash to get started with a Fastrip store. Upon qualification by the District Manager, potential operators will receive a copy of the complete lease agreement.

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To be considered for a store position, we have established a qualification process. The first step is to fill out an application, which includes a background and credit check. Once the credit department approves an applicant, the application is forwarded to the Lease Coordinator, and the applicant will be contacted for an interview. The local Fastrip District Manager usually conducts the first interview. If the District Manager qualifies the applicant, the Director of Stores will conduct the final interview, and the candidate will be notified if they qualify as a potential lease operator.

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If a store is available, the best candidate will be chosen and notified. If no stores are available, potential operators will be notified, and their applications will be kept in an active file. If an applicant is approved for a specific location, the changeover process typically takes 45–60 days (although this timeframe may vary depending on the circumstances).

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If you would like to lease a Fastrip, please email us to request an application.