Even though the price of gasoline is skyrocketing, people cannot afford to stop buying gas. Gas station owners hardly suffer a slump in their business and hence running a gas station is usually considered as a profitable business venture. Look for gas stations that are put up for sale in your area. This can be done by browsing through the classified sections of your local newspapers, going online and searching for gas stations for sale in your neighborhood or calling up your local realtors and learning more about this. Once you have located some of the ‘for sale’ gas stations, set up an appointment with the current owner of the gas station for touring the property. Investigate the property thoroughly and see whether you are satisfied with the location, present condition of the premises, services offered by the gas station and so on. Also review the financial statements in detail and ask the owner why the property is up for sale and what are the terms and conditions for purchasing the property. If the property has additional facilities over and above the basic gas station, such as a convenience store or car wash, ensure that the income generated through these services is acceptable as per current industry standards. This means that these services should ensure profit and not loss for the gas station owner. Also, keep in mind that you will essentially be in a franchising business and you will be advertising, marketing and selling a particular brand of gasoline which is owned by a specific oil company and not by you. For this purpose, you will need to look into franchising agreement, licensing fees and other such related details. Additionally, transfer of ownership also requires transfer of insurance, permits to sell tobacco or liquor and particulars regarding taxes and other fees. Once you have made up your mind about purchasing the gas station after doing necessary research, prepare a solid business plan to support your decision. The business plan will be your ultimate weapon for obtaining funding from lenders for making the purchase. Consider hiring a professional business plan writer for this purpose so that you do not miss out on any important detail.