Starting a petrol pump business in India can be a great way to get into the country's rapidly growing economy. However, as with any business, it is important to have a solid plan in place before getting started.
To be eligible for a petrol pump business plan in India, there are a few key criteria that must be met:
In order to start a petrol pump business in India, you will need to have a minimum of 1 acre of land. The land must be owned by the applicant and should be located within 1 km of a national or state highway. In addition, the land should have a frontage of at least 50 m on the highway.
To set up a petrol pump business in India, you will need to obtain the following:
After you have obtained the necessary permits and approvals, you will need to find a suitable location for your petrol pump. The site should have enough space to accommodate the storage tanks, pumps, and other equipment required for the business. It should also be located in a high-traffic area to ensure that there is a steady stream of customers.
Once you have secured a location, you will need to purchase the necessary equipment and supplies. This includes storage tanks, pumps, hoses, and other accessories. You will also need to arrange for fuel delivery from the oil company you have chosen to supply your station.
Once everything is in place, you can start marketing your new business to potential customers. Make sure to promote any special offers or discounts that you may be offering. You can also use online platforms such as social media to reach a wider audience.
Assuming you have all the other permissions in place, the next step is to obtain a license for your petrol pump. The cost of this license will depend on the type of fuel you intend to sell at your petrol pump. For example, a license for a petrol pump selling only diesel will cost ₹2 lakh, while a license for a petrol pump selling both petrol and diesel will cost ₹4 lakh.
If you want to add additional fuels to your station, such as LPG or CNG, you will need to obtain separate licenses for each fuel type. The cost of these licenses will vary depending on the state in which your petrol pump is located. For example, a license for an LPG gas station in Maharashtra costs ₹15 lakh, while the same license in Gujarat costs ₹20 lakh.
You can find out more about the specific fees for each type of fuel by contacting your state's licensing authority.
Vakilsearch has a team of experienced and professional chartered accountants who can help you with all the financial aspects of your business plan.
Vakilsearch also has a team of legal experts who can help you with all the legal aspects of setting up your petrol pump business in India.