How to be a RaceWay Store Operator

RaceWay's roots began in 1934 when Carl Bolch, Sr. opened an independent gas station in St. Louis, Missouri, under the name Carl Bolch Trackside Stations. His strategy was to be independent of major oil companies and be able to consistently offer lower-priced gasoline. In 1959, he relocated and acquired the Oil Well Company of Opp, Alabama. The combination of these stores evolved into the early RaceWay Stores. In 1967, Carl Bolch, Jr., the current Chief Executive Officer, joined the company in Montgomery, Alabama. He expanded the Company's geography throughout the South and into Texas on the newly constructed interstate system and pioneered the concept of self-service gasoline. Currently RaceWay stores are leased to a third party Contract Operator. Candidates for the operation of a RaceWay Store should have retail and/or gas station experience, as they will be responsible for the day-to-day operations of the store. You will reap the rewards of operating your own business while working with the recognized leader in low cost fuel.

Instructions

Difficulty: Moderate

Things You’ll Need:

• Desire to be your own boss.
• Time to run your own business.
• Capital, or access to it.

1. Determine the costs. Learn the costs associated with running a RaceWay Store. Contact the company using their website to obtain detailed information for start-up costs and available locations for your area. The costs vary by store and area, but your investment will be between $200,000 and $350,000.
2. Provide a resume. Prepare a resume and/or application with business management experience and financial credentials. RaceWay requires the operator be a minimum of 21 years of age, be a permanent U.S. resident, and have liquid assets.
3. Find the time. Identify the time requirements to open AND operate your business. RaceWay expects the operator to take an active daily role in the operation of a Raceway store.
4. Secure financing. With most RaceWays stores you will have the opportunity to purchase the current operator's equipment and inventory, but you will not be required to do so. Raceway does not provide financial assistance to operators.
5. Make the decision. You will be provided with assistance in starting your endeavor and given ongoing assistance through district and regional staff, including support for your grand opening, competitive information, and marketing support.
6. Get involved. Expect to be actively involved in your store. With good decisions and proper merchandising you will have the opportunity to reap the rewards of operating a business without bearing the burden of significant capital costs. Leadership, good customer service, and understanding of the local market will allow you to be successful with RaceWay.

Tips & Warnings

• RaceWay is not a franchise. It is a contractual relationship which allows you broader opportunities to explore different offering within your store. You will not incur ongoing costs of advertising fees or commissions to pay to the corporate office.
• There is a commission paid to you for every gallon of gas sold, but with the current state of the gas market and credit card fees, you need to plan on making your largest revenue stream from your food and product offerings inside the store.