Forget the doom and gloom, petrol retailers remain optimistic!
There is no doubt these are some of the toughest conditions we have seen to operate a petrol station in Australia. The mainstream media, to get attention, focuses on the negative stories and exaggerates data to make wild predictions of how bad things are going to get.
Over the next 6 months, we are going to see fewer consumers out and about spending money which will have a direct impact on our businesses. This doesn’t mean there aren’t other opportunities out there to look after our valued customers.
There is no doubt, fuel volumes will drop, but our industry has been evolving to deal with this for a long time. Petrol stations are no longer fully reliant on fuel sales and can get through this economic downturn by speeding up their delivery of alternative ways to get customers in the door.
Under current conditions, Petrol station operators need to focus on just keeping the doors open. The streams of revenue we are used to just won’t be there in the next 6 months. We need to make some tough decisions to reduce costs in our businesses and focus on just getting through the next 6 months so when things improve, which they will, we are ready to start growing our businesses again.
As an industry, we need to remain optimistic. Of course, we need to keep an eye on the news so we are educated on the risks we are facing but don’t let the bad news dictate how you operate your business. I believe, with some good business decisions and taking advantage of the government stimulus measures introduced over the last few weeks that we have a bright future ahead of us.
If you need some help and advice get in touch with me anytime at [email protected] or 0490 415 063