Don't Just Stand There, Do Something!

Originally published as feature article in "The Meter" Condevco's newsletter in the March 4 Edition

As we have watched the last month unfold in our little corner of the petroleum field, we have seen:

1) Jobbers filing for bankruptcy, of both the chapter 11 and 7 varieties.

2) Store chains being sold either in whole or in part, and

3) Stations going up for sale with prices that do not reflect the reality of the markets, either in real estate or retail convenience and gasoline.

Here’s a recent conversation I had with a friend who shall remain anonymous.

Ron, “Hey, did you get those listings you were talking about from that client?”

Friend, “No, I went and looked at them but the client is in them upside-down. The businesses aren’t making money and poorly managed, and what they need to get won’t work in this market, so I didn’t take the listings.”

Ron, “Well, do they want to fix the businesses so they can get more down the road?” (I had sent them over a consulting proposal at this friend’s request)

Friend, “They don’t want to spend any money on the business right now”

Ron, “OK, so they aren’t breaking even, can’t sell the stations for what they paid for them, and they don’t want to work on fixing the business”

Friend, “That’s right”.

While I find that a hard to believe conversation, but that’s not the only thing I’m seeing that makes me think the “fight” is leaving lots of folks in the business right now.

In a different time, I guess the owners could figure someone would rescue them by “purchasing the problems” before too long. I have to say, I don’t think that’s the case now. If you have assets that aren’t performing, hoping isn’t the way to go. It’s time to become a retailer again.

Jobbers are going into bankruptcy with no apparent plans for coming out. If you want to be broken up, just skip the Chapter 11 step and get yourself dissolved.

That means pricing your motor fuels as competitively as you are able to, keeping your stores clean and stocked with current and timely product, and making sure your Customer Service Associates are doing all they can for your customers as they walk in.

Condevco is the Customer Service Training and Store Merchandising authority, we can help you freshen up your stores and employees without major expenditures. Be sure to watch for Darcee’s first feature article for The Meter, “Eight Easy Ways to Freshen your Store and Energize your Employee’s Customer Service”

To ask Ron and Darcee for Consulting Help, visit our web site! (Click here)