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With all the discussion about minimum wage and stuff in the last few years, how are they able to pay these prices and keep cost down? Owners taking less profit?
They making like 1.90 profit on a bag of ice, who knows how much on jerky and fountain drinks. Then you got all the space cadets walking around buying crap when all they needed was gas
They making like 1.90 profit on a bag of ice, who knows how much on jerky and fountain drinks. Then you got all the space cadets walking around buying crap when all they needed was gas
Ever been by a buc-ee's? Notice how they're always jam packed? Volume. Also....take good care of your employees and they tend to stick around a lot longer, so there's less turnover and less of the expense that goes with hiring new minimum wage employees.
The only one I've ever seen was in Madisonville. I got gas but opted to hold on to my urine for a while. Too many people there. Stopped in Buffalo somewhere and let it go before I got into Yankee territory.
They don't profit on name brand items. Self branding it were it's at. Margins are insane. They even distribute their own fuel (related business). 8-10 years ago I reviewed some financial info and it was hard to fathom what they do with all the money, and was years before the massive expansion you have seen in recent years. Pay general managers, I suppose.
Ever been by a buc-ee's? Notice how they're always jam packed? Volume. Also....take good care of your employees and they tend to stick around a lot longer, so there's less turnover and less of the expense that goes with hiring new minimum wage employees.
All the first ones out of our area (the original Bucees is about 8 miles down the road from me) were staged at the points that Beaver needed to stop and pee on his way to the deer lease back in the day. When he moved leases is when new stores were built.
One of my buddy’s dad used to play golf with Beaver. He said Beaver told him that the Bastrop (maybe Luling, fuzzy memory) store made enough profit to pay the salary of virtually all the stores in Texas’ employees.
Lead buyer attends our line reviews. He said last year they had over 150M door turns. That kind of foot traffic is ridiculous.
Zero marketing also frees up some $....Billboards only. They don't use coop for advertising, or take advantage of any promos or sales specials. So they demand margin discounts.
They build each location for basically zero dollars. They buy all the land on the DL for the 4 corners where they plan to put the store. Highway Dept then puts in infrastructure,...off ramps, overpasses, traffic lights, etc. They then flip the surrounding property to other businesses that go in at that intersection and recoup the cost to build the Beaver Mall. Genius.
What Bacon says is interesting. At one point in the not to distant past they were heavily leveraged but they obviously figured out a better way to do it.
That store they are building in Luling is going to be a big MOFO
I hate most things about bucees except for the cheap diesel and Cheap coffee, stop there every morning
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