Michael Barbaro
๐ค SpeakerAppearances Over Time
Podcast Appearances
I hope they understand that I'm not pricing my gas to make a quick buck.
I'm pricing my gas how I need to price it in order to stay afloat.
And just to explain how this works, this is actually not making Cam more money.
My distributor of fuel is charging me per gallon.
And then I have to account for if they're going to charge me to get it to the gas station.
Trucking fees.
Trucking fees to the store itself.
And then we also have to account for the different fees that are associated with the customer purchasing gas, the credit card companies and debit card companies.
For Cam, the margins on gas are actually pretty slim.
I mean, there's really such a small amount of profit to be made per gallon for a business like mine.
I mean, I'm talking maybe 10 to 15 cents per gallon max for my store.
I mean, my regular customers, they're pretty loyal.
I like to think that they would choose my store over a big corporate-owned gas station or a big chain gas station franchise like that just because it's my store.
Can I consider that?
The customer, when I'm making these gas prices, not really, because as much as I love my regular customers, I can't take a loss per gallon.
It would be difficult to even figure out what my break-even number would be.
You've got to at least make a couple cents off of each gallon, or there's really no point in...
I could take the gas price of that big chain gas station up the road that's priced at $399 today.