(It's more profitable when you) Put a cup of coffee in your tank

Elizabeth Ryan buying quality coffee at an Exxon station in Dallas. Photo Natalie Caudill; Dallas Morning News.

Unlike the more profitable businesses of drilling for crude oil and refining it into gasoline, selling fuel at the pump typically draws a net profit of a few pennies per gallon. Gasoline retailers are increasingly squeezed by rising credit card processing fees and – due to rising prices – lower sales of the more profitable premium gasoline... Oil companies and independent retailers can't simply count on gasoline anymore for their profits, 'You better have a model that gets the customer inside the convenience store,' says Tom Kloza, director of the Oil Price Information Service."
While an Exxon convenience store isn't likely to become a third place, all independent retail businesses are encouraged to constantly be aware of changes in the marketplace, and ideas from all sources.
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