Building the Travel Center of the Future

Building a truck stop from the ground up can take several years. The development process, due diligence, land acquisition, zoning and build out all take time. Not to mention that 10+ acres established areas can be tough to find. Acquiring existing sites can help businesses hit the ground running while also saving money. Building a new location can be a two-year process versus buying an existing site, which typically takes three to six months. As a result, acquisitions are a good way to get operational and bring in revenue right away. Even if operators plan to make major renovations or upgrades, they can generate revenue while making improvements. “The main benefit of growing through acquisitions is time,” said Kevin O'Hanlon, first vice president, investments, for Marcus Millichap, a real estate brokerage company. Marcus Millichap generously sponsored Fast Forward Focus, the NATSO Foundation’s fall leadership conference. The second benefit is cost. The cost of a new build can easily exceed $20 million all in. O'Hanlon said a common misconception is that the cost of acquiring and improving a property cost more than developing a new location. “That is true in some cases, but if you buy at the right price that should never be the situation,” he explained. “Purchasing an existing truck stop could be less capital intensive at purchase.” Operators

Austin Burns, president and CEO of Paragon Solutions, highlighted six key areas operators can focus on to improve customers’ experience during NATSO Connect. “We focus on the customer journey and experience because it is so pivotal right now,” said Burns. “Understand your strategy and who you are as a brand. Pick what you do well.”

Article created for the digital issue of the NATSO Foundation’s magazine. Due diligence is the groundwork to every successful travel center construction project and investing 12-24 months to complete the necessary research […]

Understanding the various types of fuels available is crucial for providing customers with the right choices and maintaining compliance with environmental regulations. The most common types of fuel include regular octane gasoline, premium gasoline, reformulated gasoline, Low Reid Vapor Pressure gasoline, E85, diesel, premium diesel, winter diesel, biodiesel and renewable diesel.

Fraud at the fuel pump is a concern for truck stop and travel plaza operators and their customers, but technology is helping mitigate risk, keep payments secure and prevent theft. Gather eight ways to help fight fraud at the pump.

Fuel pumps are an essential part of travel center operations, and choosing the right equipment will help increase efficiency and customer satisfaction. The NATSO Foundation's Travel Center and Truck Stop New Build Toolkit offers these factors to look at as you select the right pumps for your location.

Commercial fuel buying is a complex process involving several pricing mechanisms, multiple fuel types, and various outside market factors that can affect supply and demand. At the same time, truck stop and travel center operators must closely monitor their budgets, fuel prices and inventory. "One of the most important things to understand is how fuel is priced. There are several pricing mechanisms, including the spot market. In a traditional procurement perspective, that means I don't necessarily have an agreed-to price," Randy Grizzle, director of sales and marketing for TACenergy said. "I needed it today. I bought it today." However, in commercial fueling, there are one of two indices that have spot in their name, which can create confusion, Grizzle said.

When it comes to the future of the truck stop and travel center industry, Darren Schulte, NATSO’s vice president of membership, has a strong history of identifying trends, warning about threats and identifying new opportunities. He has an extensive background in the industry, has made thousands of site visits, and has constant conversations with operators and industry experts. Read a detailed write-up of Schulte's episode of the Truck Stops Here podcast, where he shared on what is happening in the travel center industry.

Signage is powerful, but if signs include too much information, they become more noise that customers have to sift through. The most effective signs streamline information and make it easy for customers to connect with the messaging. Travel center signs should be clutter free. “It is decluttered, more focused messaging. That applies to price signs and digital signs,” said Cameron Cordova, vice president of sales at PMW Electronic Price Signs. “You don’t want to do too much. We’re a micro-consumption type of society. You don’t want to create something people have to stand there and read.”

The truck stop and travel center industry is fuel agnostic and strives to offer whatever fuels its customers demand. Diesel fuel remains the primary fuel used within the trucking industry, especially for long-haul over- the-road freight movement. However, the industry is currently evolving to meet demand for new fueling technologies, such as electric vehicle charging stations, and preparing to meet future fueling needs. For those new to the industry, gather information on the fuels you may want to consider from the NATSO Foundation's New Build Toolkit.

Buying fuel is a complicated process, and determining the best approach helps operators increase profitability while minimizing risks. The NATSO Foundation has created this toolkit to give operators a broad understanding of available fuel types, including renewable fuel, and spot purchasing vs. index-based purchasing while also offering insights into choosing branded vs. unbranded fuel and building supplier relationships. The toolkit was created in collaboration with TAC Energy.

Article created for the digital issue of the NATSO Foundation’s magazine Truck stops and travel centers feature multiple profit centers and amenities; plus, customers want to get in and out quickly. Travel […]