Pit stop pros: Continually high tourism in Florida will maintain industry revenue

Over the past five years, as a consequence of wildly fluctuating crude oil prices, the Gas Stations with Convenience Stores industry in Florida has experienced moderate levels of revenue volatility. The current period and the years preceding have been a struggle for the industry as crude oil prices have unpredictably shifted before ultimately falling. The Florida industry's revenue has fallen more slowly than at the national level, primarily because of faster population growth in the state. Florida is a common retirement destination, particularly for people who spend their working years in colder climates. Moreover, Florida is a popular tourist destination. Vacationers often rent cars when they arrive, especially if they plan to spend a majority of their time far from an airport...purchase to read more.

Industry Statistics & Market Size
Revenue
$26bn
Annual Growth 12-17
-1.1%
Forecast Growth 17-22
x.x%lock
Profit
x.x%lock
Employment
44,109
Businesses
6,720
Market Share of Companies

Industry Threats & Opportunities

  • More vehicle miles in Florida led to increased demand for industry products, which has curtailed industry declines
  • Florida industry revenue has fallen at a slower rate than the national industry
  • Demand is anticipated to increase as economies around the globe strengthen and grow

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    Industry Report - Starting a New Business Chapter

    The most significant barrier to entering the Gas Stations with Convenience Stores industry in Florida is the upfront costs associated with building a new establishment. New stations range from $1.5 million to $7.7 million. Florida also has more-stringent regulations related to underground and aboveground storage of tanks, which necessitates additional capital investment.The industry is also highly saturated. It is common for a busy intersection to have two or more establishments, which lends itself to high levels of price competition and unsustainable profit margins. Lastly, real estate costs are significant considering how largely location plays into an establishment's ability to compete...purchase to read more.

    Additional Insights for the Gas Stations with Convenience Stores in Florida Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Gas Stations with Convenience Stores in Florida Industry are

  • Proximity to high traffic areas
  • Supply contracts in place for key inputs
  • Superior financial management and debt management

    • IBISWorld analysts also discuss how external factors such as Total vehicle miles in Florida and Consumer Spending in Florida in the Gas Stations with Convenience Stores in Florida industry impact industry performance..

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    What's in this report

    Industry Products

    What is the Gas Stations with Convenience Stores in Florida Industry?

    Industry operators in Florida sell automotive fuels such as gasoline and diesel from stations that also contain convenience stores or food marts. They may also provide automotive repair services. This industry is distinct from the Convenience Stores industry in Florida and the Gas Stations industry in Florida. Major oil producers that franchise out most of their convenience operations are not included, unless they own and operate a significant number of sites.

    Industry Products
  • Groceries
  • Mid-grade gasoline
  • Diesel
  • Regular gasoline
  • Premium gasoline
  • Alcohol and other
  • Tobacco products and accessories
    • Industry Activities
  • Retailing automotive fuels (e.g. gasoline, diesel fuel)
  • Retailing a limited assortment of food, beverages and sundries
    • Table of Contents

    About this Industry

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources

    Industry at a Glance

    Industry Statistics Snapshot
    Industry Structure
    Executive Summary

    Industry Performance

    Executive Summary
    Key External Drivers
  • Total vehicle miles in Florida
  • Consumer Spending in Florida
  • World price of crude oil
  • Number of adults aged 20 to 64 in Florida

    • Current Performance
  • Revenue follows crude oil prices
  • Seniors and tourists go south
  • Adding value
  • Chart: Revenue Growth

    • Industry Outlook
  • Crude oil prices climb
  • Vehicles drive demand
  • Industry expansion incites growth
  • Table: Gas Stations with Convenience Stores in Florida Industry Revenue Outlook

    • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Gas Stations with Convenience Stores in Florida Industry Lifecycle vs The Economy

    • Products & Markets

    Supply Chains
    Key Buying Industries
  • Local Freight Trucking
  • Local Specialized Freight Trucking
  • Public Transportation
  • Consumers

    • Key Selling Industries
  • Cigarette & Tobacco Products Wholesaling
  • Gasoline & Petroleum Wholesaling
  • Grocery Wholesaling

    • Products & Services
  • Regular gasoline
  • Groceries
  • Tobacco products and accessories
  • Premium gasoline
  • Diesel
  • Mid-grade gasoline
  • Alcohol and other
  • Chart: Gas Stations with Convenience Stores in Florida Industry Products and Services Segmentation

    • Major Markets
  • Drivers aged 30 to 49
  • Drivers aged 50 to 64
  • Drivers older than 65
  • Drivers aged 21 to 29
  • Drivers under age 20
  • Businesses
  • Chart: Major Market Segmentation for the Gas Stations with Convenience Stores in Florida Industry

    • Business Locations
    Chart: Business Locations by State

    Competitive Landscape

    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Other costs
  • Chart: Cost Structure Benchmarking – Sector vs Gas Stations with Convenience Stores in Florida

    • Basis of Competition
  • Internal competition
  • External competition

    • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Gas Stations with Convenience Stores in Florida Industry

    • Major Companies

    Marathon Petroleum Corporation, Sunshine Gasoline Distributors Inc., Murphy USA Inc., Southeast Petro Inc.,
  • Table: Marathon Petroleum Corporation - financial performance
  • Table: Sunshine Gasoline Distributors Inc. - financial performance
  • Table: Murphy USA Inc. - financial performance
  • Table: Southeast Petro Inc. - financial performance

    • Operating Conditions

    Capital Intensity
  • Chart: Level of Capital Intensity for the Gas Stations with Convenience Stores in Florida Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

    • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

    • Regulation & Policy
    Industry Assistance

    Key Statistics

    Table: Industry Data for the Gas Stations with Convenience Stores in Florida Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Total vehicle miles in Florida (2008-2022)

    • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data

    Jargon & Glossary

    Diesel
  • A mid-range petroleum product (with a higher boiling point than gasoline) typically used as a fuel for internal combustion engines.
    • Hybrid Vehicle
  • A vehicle that uses two different power sources to run, in most cases referring to an electric battery in conjunction with a gasoline engine.
    • Major Oil Company
  • A large vertically integrated firm that refines and wholesales petroleum products; may also pump oil and retail fuel.
    • Octane Rating
  • A standard measure of the performance of motor fuel. The higher the octane number, the more compression the fuel can withstand, signifying higher-performing fuel.
    • What Our Customers Say
    Why buy this report?

    IBISWorld’s Gas Stations with Convenience Stores in Florida Industry Research Report offers insight into the market at the national level. Our analysis highlights macro trends in the overall sector and the micro trends faced by companies that do business in the Gas Stations with Convenience Stores in Florida industry. Our five-year outlook forecasts explain how the market is set to change and the product segments that will drive growth.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Gas Stations with Convenience Stores in Florida:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Gas Stations with Convenience Stores in Florida market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Gas Stations with Convenience Stores in Florida, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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