How do Petrol Pump earn?
As of April, 2017, petrol pump owners earn Rs 2020.38, plus 0.86 per cent of retail price, as commission for selling every kilolitre of petrol, stated a study by Newsflicks.
The commission in case of diesel, as of now, is Rs 1502.13 and 0.27 per cent of retail price per kilolitre, against Rs 425 for the same quantity..
What is required for petrol pump license?
The applicant must be an Indian citizen and if he/she is Non-Resident Indian i.e. NRI then he must live in India for at least 180 days before applying for a petrol pump or retail outlet. 2. The age of the applicant should be between 21 to 55 years (some relaxation for freedom fighters’ family).
Is petrol pump a profitable business?
Petrol pump business has always been considered one of the leading profit making businesses, not just in India, but globally as well. … Besides, the Oil Marketing Companies (OMCs) are aiming to generate more viable opportunities in order to encourage the growth of petrol pump business in India in 2020-2021.
Are petrol pump owners rich?
A petrol pump dealer’s profit totally depends upon a number of litres sold in a month. … So for example, if a petrol pump dealer has a sale of 1.5 lakh litres of diesel and 0.5 lakh litres of petrol per month, his GROSS profit would be approx 2.79 lakh rupees.
How much does it cost to start a petrol pump?
The minimum investment required to start a petrol pump is minimum Rs. 15 lakh and maximum can exceed up to Rs. 35 lakh, depending upon location of retail outlet.
Which type of land is required for petrol pump?
applicant(s) offering plot measuring minimum frontage of 90 metres and area of 2.4 Acres. Crossing and should be at least ONE (1) KM away from the nearest existing retail outlet on the same side. plot of land. Tax clearance, Non-encumbrance certificate etc.