Best Gas Station Franchises to Buy in USA (2026)
By Rizwan Shuja · 22 Gas Stations · Central Texas · Updated May 2026
Gas station franchise · branded vs unbranded gas station · how to buy a gas station · independent gas station vs franchise · gas station dealer agreement explained · what is a gas station franchise · SBA loan gas station · gas station profit margin · buying a gas station for the first time
Every month, thousands of people search for the best gas station franchise to buy in the USA. And almost every one of them starts with the wrong question.
They Google “Shell gas station franchise cost.” Or “how to apply for a Chevron franchise.” Or “BP franchise requirements.” And they spend weeks — sometimes months — chasing a path that does not exist the way they think it does.
Here is what nobody tells you upfront: most gas station brands in America are not franchises. Not legally. Not structurally. Not in the way McDonald’s or Subway is a franchise. Shell is not a franchise. Chevron is not a franchise. Marathon, BP, ExxonMobil, Phillips 66 — none of them are franchises in the legal sense. They are fuel supply contracts. And confusing the two is one of the most expensive mistakes a first-time gas station buyer can make.
I am Rizwan Shuja. I bought my first gas station in Austin, Texas in November 2004 with $140,000 saved from two years of engineering work. Today I own 22 stations across Central Texas and have helped 18 people who started as hourly workers become gas station business owners. I am not a franchise broker. I am an operator. And in this guide, I am going to explain exactly what a gas station franchise actually is, which brands truly qualify, what the real economics look like in 2026, and — most importantly — which model is the right one for your specific situation.
What Is a Gas Station Franchise? (The Answer Most People Get Wrong)
The question “what is a gas station franchise” is rising in search volume right now — up 70% year over year according to Google Trends — and the reason is simple: more people are researching gas stations as businesses, and they are arriving with no context. So let me give you that context before anything else.
Under the FTC Franchise Rule (16 CFR Part 436), a relationship is legally a franchise only when three things exist simultaneously: a trademark license, significant operational control or assistance from the franchisor, and a required payment of $500 or more. When all three are present, the franchisor must provide you with a Franchise Disclosure Document (FDD) — a legally required document with 23 standardised items — at least 14 calendar days before you sign anything or hand over any money. The FDD covers initial fees, your total investment range, franchisee financial performance data, and outlet counts. It is the document that gives you legal protection as a buyer.
Now here is where the gas station industry gets complicated.
Most fuel brands operate under a completely different law: the Petroleum Marketing Practices Act (PMPA), enacted in 1978. The FTC specifically carved petroleum dealers out of the Franchise Rule after PMPA passed. So when you sign a deal to put a Shell sign on your station, you are not signing a franchise agreement. You are signing a fuel supply contract governed by PMPA — which gives you certain dealer protections (90-day written notice before termination, right of first refusal on leased premises) but does not give you an FDD, a turnkey business system, or any corporate training.
This distinction — franchise versus PMPA fuel supply agreement — is the single most important thing to understand before you spend one dollar on a gas station acquisition.
Rizwan’s Take: I tell every buyer the same thing. Ask to see the FDD. If there is no FDD, you are not buying a franchise — you are signing a fuel contract. Neither is better than the other, but you need to know which one you are actually entering into before you can evaluate the deal properly.
The 5 True Gas Station Franchises in the USA (2026)
After stripping away every PMPA dealer brand, five gas station and c-store concepts remain that are true FTC franchises with legally filed FDDs. Here is what each one actually costs, what you actually pay ongoing, and what you actually get.
1. 7-Eleven — The Biggest Brand, The Steepest Cost
7-Eleven is the most recognised convenience store brand in the world, with approximately 12,960 US locations, of which roughly 86.9% are franchised. The initial franchise fee ranges from $0 to $1,100,000 (calculated at roughly 15 times a store’s adjusted gross profit), and total investment runs $142,150 to $1,627,710 per the current FDD.
Here is the number that every other article in this space buries or ignores entirely: 7-Eleven does not charge a percentage royalty on your sales. It takes a split of your gross profit — typically 50 to 52 percent of every dollar of gross profit the store generates, with some higher-volume programmes reportedly reaching 59 percent. On a store generating $1.8 million in annual sales at a 32% blended gross margin, that is $576,000 in gross profit — of which 7-Eleven corporate keeps approximately $288,000. After your own labour, supplies, and shrink, a well-run franchisee in that store might net $150,000 to $175,000.
7-Eleven covers rent, utilities, building insurance, and equipment — which is why it takes that share. But understand what you are agreeing to: you are running a business where your corporate partner takes more than half of your gross profit before you pay a single employee.
The 2026 context makes this harder to ignore. 7-Eleven has announced 645 North American store closures for fiscal 2026 (March 2026–February 2027) — the fifth consecutive year of net store decline — against only 205 planned new openings. Same-store sales fell for 12 consecutive months through 2024. New CEO Stephen Dacus, the first American-born leader in the company’s history, has named franchisee profitability as a core strategic problem. The National Coalition of Associations of 7-Eleven Franchisees (NCASEF) has repeatedly flagged that a significant proportion of franchisees would not re-enter the system under the current terms.
7-Eleven is a real franchise with real infrastructure. The brand, the training, the private label products, and the loyalty app are all genuinely valuable. But you need to go into it with your eyes open about the gross profit split.
7-Eleven also acquired Speedway from Marathon Petroleum in May 2021 for $21 billion. Speedway is no longer an independently franchisable brand — it is being converted to 7-Eleven format or closed as part of the current contraction plan.
2. Circle K — Strong Economics, Limited Availability
Circle K is operated by Alimentation Couche-Tard, the Canadian c-store giant, through its US franchising subsidiary TMC Franchise Corporation. It is a true FDD-backed franchise with genuinely competitive royalty economics: the initial franchise fee is $25,000, the royalty runs 2.5% to 5.5% of gross sales (not a gross profit split), and an additional 1.5% marketing fee applies. Total investment ranges from approximately $268,500 for a conversion to upward of $4.85 million for a ground-up build.
The problem is supply. Of approximately 5,940 US Circle K locations, only around 639 are franchised. The overwhelming majority are company-operated, and Couche-Tard has publicly stated plans to continue growing through corporate acquisitions rather than franchise expansion. The practical reality for a first-time buyer looking to buy a gas station franchise is that Circle K availability is severely limited. The realistic Circle K path for most operators is a conversion of an existing well-located independent store — not a greenfield franchise purchase.
If you already own a strong independent site and want to explore a conversion, Circle K is worth a serious conversation. The royalty structure is structurally fairer than 7-Eleven’s gross profit split at scale. But do not plan your acquisition strategy around Circle K availability without first confirming whether there are any franchise opportunities in your specific market.
3. ExtraMile (Chevron) — The Best Economics in the Segment
ExtraMile Convenience Stores LLC is a 50/50 joint venture formed in 2017 between Chevron USA and Idaho-based Jacksons Food Stores. It is the most underrated franchise option in this entire space, and almost nobody outside of existing Chevron operators talks about it.
It is a true FTC franchise — properly filed FDD, defined royalties, legal disclosures. The initial franchise fee is $0 to $20,000 (frequently waived entirely). The royalty structure is 4% of in-store sales plus a 2% marketing fee, with a combined royalty cap of approximately $72,000 to $100,000 per year depending on the agreement version. Total investment for most conversions falls between $230,000 and $550,000.
ExtraMile reports average merchandise sales above $115,000 per month per franchisee location — roughly 25% higher than non-branded converted sites in the same network. The company is targeting 1,500 stores by 2028, with expansion into Alabama and Mississippi underway in addition to its core western states footprint.
The one constraint that matters: you must already hold a Chevron or Texaco fuel supply agreement to qualify. ExtraMile is not a standalone franchise. It sits on top of a Chevron fuel relationship. If you are evaluating a Chevron-branded site acquisition in a Chevron-dominant market, ExtraMile is the most compelling franchise economics available in the US convenience sector right now. If you are not in Chevron territory, this path is not open to you.
4. ampm / ARCO — Strong Brand, Punishing Royalty
The ampm and ARCO story is complicated by geography. BP Products North America owns and franchises ampm east of the Rocky Mountains. Marathon Petroleum (MPC) controls the West Coast ARCO and ampm rights, acquired through its $23.3 billion purchase of Andeavor in October 2018.
The brand itself is powerful, particularly in California, Arizona, Nevada, and the Pacific Northwest. ARCO’s cash-only, no-credit-surcharge model drives genuine pump price competitiveness and strong fuel volume in its markets. The ampm c-store brand has real consumer recognition.
The economics are the issue. The initial franchise fee ranges from $40,000 to $70,000. The royalty can reach up to 14% of gross sales plus a 5.5% advertising fee — the highest royalty burden of any US c-store franchise. Total investment runs from approximately $430,698 to over $10 million depending on whether you are converting or building new. You need $750,000 in verified liquid capital minimum to qualify.
In markets where ARCO is the dominant value-fuel brand and your volume numbers justify the royalty math, ampm can absolutely work. But model it carefully before committing. At 14% royalty plus 5.5% advertising on a store doing $3 million in sales, you are paying close to $585,000 annually in brand fees before labour, utilities, or inventory.
5. Sunoco APlus — Lowest Fee, Smallest System
Sunoco’s APlus convenience store franchise is the most accessible true franchise in terms of entry fee. The initial franchise fee is $15,000, the royalty is 6% of gross sales plus a 2% marketing fee, and total investment ranges from $230,090 to $2,182,850 depending on site type and whether real estate is included.
APlus has been filing FDDs since 1993. The system has contracted significantly since Sunoco sold 1,030 company-operated stores to 7-Eleven for $3.3 billion in 2018 (and another 204 stores for approximately $1 billion in 2024). Roughly 247 franchised and 19 corporate APlus locations remain. Many existing sites are captive-market locations — highway service plazas and travel centres — rather than conventional street-corner stations.
For a first-time buyer with a strong site in a Sunoco-recognised market (primarily the Northeast and Mid-Atlantic), APlus provides genuine franchise infrastructure at a competitive entry price. Just verify whether the brand carries real customer recognition in your specific trade area before committing to the royalty.
The Franchise Comparison at a Glance
| Franchise | Initial Fee | Ongoing Cost | Total Investment | Key Watch-Out |
|---|---|---|---|---|
| 7-Eleven | $0–$1,100,000 | ~50–52% gross profit split | $142K–$1.63M | Highest royalty burden; 645 store closures planned |
| Circle K | $25,000 | 2.5–5.5% + 1.5% marketing | $268K–$4.85M | Mostly company-operated; limited franchise availability |
| ExtraMile | $0–$20,000 | 4% + 2% (capped ~$72–100K/yr) | $230K–$550K | Requires Chevron fuel supply agreement |
| ampm / ARCO | $40,000–$70,000 | Up to 14% + 5.5% advertising | $430K–$10M+ | Highest royalty in segment; geography-restricted |
| Sunoco APlus | $15,000 | 6% + 2% marketing | $230K–$2.18M | Contracting system; check local brand recognition |
The Brands That Are NOT Franchises (But Everyone Thinks They Are)
This is where the confusion lives. Shell, Chevron, BP, ExxonMobil, Marathon, Phillips 66, Gulf — these are household names. People assume that because they are recognisable brands with visible corporate signage, there must be a franchise system behind them. There is not.
Shell exited direct US retail operations progressively between 2007 and 2012. Approximately 12,000 Shell-branded US sites operate today, almost all run by independent operators who hold PMPA fuel supply agreements with Shell-authorised jobbers. Shell has re-entered company-operated retail in a small way — buying Landmark Industries sites in Texas and Brewer Oil stores in New Mexico recently — but the dominant model remains wholesale supply. There is no Shell franchise application form. There is no Shell FDD. When you become a “Shell station,” you are signing a branded fuel contract and running your own convenience store completely independently.
How to become a Shell dealer (and Chevron, Marathon, Phillips 66, and BP dealers works the same way): you identify a site, negotiate a fuel supply agreement with a brand-authorised wholesale jobber in your area, meet the brand’s image programme requirements, and purchase branded fuel through that jobber. You pay a per-gallon brand fee built into the fuel price. You do not pay a royalty on in-store sales. You run your own store.
Chevron and Texaco operate through a similar jobber model requiring a minimum annual purchase commitment. The franchise opportunity — ExtraMile — sits separately on top of the fuel relationship, as described above.
Marathon runs approximately 7,000 Marathon-branded outlets through a jobber and direct-dealer network, having sold its company-operated Speedway chain to 7-Eleven in 2021. Marathon controls the ARCO/ampm West Coast franchise rights separately.
Phillips 66 refers to its operators as “licensees” rather than franchisees. It runs three brands (Phillips 66, 76, Conoco) and announced a 15-state brand-licensing expansion in September 2024, pushing its US footprint past 7,500 sites. No FDD. No franchise system. Brand licence plus fuel supply.
Gulf Oil was acquired by RaceTrac’s wholesale arm Metroplex Energy in December 2023, bringing approximately 1,100 branded Gulf sites under RaceTrac ownership. Concentrated primarily in the Northeast. No US FDD. No franchise path.
Maverik does not franchise at all. The Salt Lake City-based chain, owned by FJ Management (the former Flying J), completed a $2 billion acquisition of Kum & Go in August 2023 and finished rebranding all locations to Maverik by November 2025. Maverik now operates approximately 800 stores across 22 states. Its corporate fact sheet states explicitly: “Family-owned, financed, and operated — no franchising.” The same applies to Buc-ee’s, Wawa, Sheetz, and QuikTrip. These are company-operated-only chains. If you see an ad anywhere claiming to offer a Maverik franchise, it is a scam.
Branded vs Unbranded Gas Station: What the Margin Math Actually Looks Like
The branded vs unbranded gas station decision is one of the most important choices a buyer makes. Here is the honest version of that comparison.
Branded fuel typically costs a station owner 5 to 10 cents more per gallon at wholesale than unbranded supply purchased off the rack. That spread is the starting point for understanding independent vs branded fuel margins. The branded operator buys higher and prices closer to the market rate — earning a slightly thinner per-gallon margin but generally moving meaningfully more volume because customers trust the canopy.
The independent or unbranded operator buys cheaper, has full pricing flexibility, earns a higher per-gallon margin, but typically sells fewer gallons and receives last priority during supply disruptions or allocation periods. In a tight supply environment, the unbranded operator can get hurt.
Industry data from NACS for 2024 puts the national average fuel margin at a record 43.5 cents per gallon — up 4.6% year over year and well above the OPIS five-year historical average of roughly 20.7 cents. That structural improvement benefits both branded and unbranded operators, but the branded operator is more likely to capture it on volume.
The branded gas station advantages in practice come down to four things: customer trust that drives gallons, loyalty programme integration that drives repeat visits, fleet account eligibility (many corporate fleets mandate branded stops), and financing credibility — SBA lenders and traditional banks are more comfortable lending against a branded site with a recognisable fuel supply agreement in place.
The independent gas station business model, by contrast, gives you pricing freedom, maximum margin per gallon when supply is loose, no brand image programme obligations, and complete vendor freedom on the c-store side. In price-sensitive rural markets where brand loyalty is weak, the independent often wins on net margin.
Rizwan’s Take: In Central Texas, where I operate, Valero and Diamond Shamrock are the dominant fuel brands. In my market, those signs move gallons in a way that an unbranded canopy simply cannot match. But that is my market. In your market, the calculus may be completely different. Always verify local brand strength before you assume a national brand name translates into local customer loyalty.
The Real Economics of Gas Station Ownership in 2026
Before you decide whether to buy a franchise gas station or go independent, you need to understand the industry fundamentals that determine whether any model works.
NACS’s State of the Industry data for 2024 puts total US convenience store industry sales at $837.4 billion, with a record $335.5 billion in in-store sales — the 22nd consecutive year of in-store record-setting. The number that matters most for buyers: fuel generates approximately 65% of revenue but only 38–39% of gross profit dollars. The inside of the store — food, beverages, tobacco, car wash, lottery — generates the remaining 61% of gross profit on roughly 35% of revenue.
Foodservice is now the profitability story. It represents 28.7% of in-store sales but 39.6% of in-store gross margin dollars. Any buyer who is not modelling their foodservice capability as a core part of their investment thesis is leaving real money on the table.
Two cost headwinds deserve equal attention. Credit and debit card swipe fees reached a record $21.3 billion for the US c-store industry in 2025 — the second-largest operating cost after labour. With 80.8% of transactions now electronic, cash discounts no longer meaningfully reduce that line. Model it. And labour costs continued climbing 6.6% in 2024.
BizBuySell’s transaction data confirms that buyers have absorbed these headwinds and kept competing for stations. The median gas station sold price reached an all-time high of $826,000 in 2025, up from $620,000 in 2024 and $399,000 in 2021. The average earnings multiple sits at 3.76 times seller’s discretionary earnings, with a revenue multiple of 0.50 times. This asset class is appreciating.
Rizwan’s Take: Do not buy a gas station. Buy a convenience store that happens to sell fuel. The moment you understand that framing, you evaluate deals completely differently. The fuel brings the car to the lot. The inside is where the business lives.
Gas Station Franchise Pros and Cons: The Honest Version
I am asked about gas station franchise pros and cons in almost every consultation I do. Here is my honest accounting of both sides.
What a true franchise gives you:
- A defined operating system that shortens your learning curve considerably if you have never run retail before
- Day-one brand recognition that drives customer traffic without requiring you to build it yourself
- Supplier relationships, technology infrastructure, and loyalty programmes you could not replicate alone
- In some cases, franchisor financing assistance
- Training — real, structured training — that an independent model does not provide
What a true franchise takes from you:
- A significant share of your gross profit (50%+ at 7-Eleven, up to 19.5% combined at ampm) paid to corporate before you pay a single employee
- Operational restrictions on what you sell, how you run your store, which vendors you can use, and how your space is arranged
- A right of first refusal on resale that can limit your buyer pool and reduce your exit price
- Exposure to corporate system decisions — like 7-Eleven’s 645 store closures — that affect your business even when your individual store is performing well
- The gas station franchise cost, which extends far beyond the initial fee into the ongoing royalty burden across the full term of the agreement
The 2026 environment — record fuel margins, record foodservice profitability, rising swipe fees, and rising acquisition prices — rewards operators who control costs and execute foodservice well. That profile describes a strong independent operator or a well-positioned ExtraMile or APlus franchisee with capped royalties more than it describes a new 7-Eleven entrant giving up half of gross profit in a contracting system.
The Gas Station Dealer Agreement: What You Are Actually Signing
If you go the PMPA branded route rather than a true franchise, the document that governs your business is the gas station dealer agreement — also called a fuel supply agreement or brand licence agreement. Understanding it before you sign is non-negotiable.
The key terms to scrutinise in any gas station dealer agreement:
Fuel supply contract length. PMPA agreements typically run 10 to 15 years. Understand your flexibility if you want to rebrand or sell before the term ends.
Minimum gallon take-or-pay. Many jobber contracts require you to purchase a minimum fuel volume or face financial penalties. Verify your location can hit that floor based on current traffic count, not seller projections.
Image programme requirements. Branded sites typically require periodic upgrades — canopy, pump faces, signage, PCI/EMV compliance. The gas station brand renovation cost falls on you in most agreements. Get the schedule and dollar estimates before you close.
Assignment rights on sale. If you want to sell in three years, can you assign the fuel contract to your buyer? Or does a corporate entity hold a right of first refusal that effectively controls your exit? This is one of the most commonly overlooked terms in any gas station brand contract.
Real estate ownership versus lease. Do you own the land, or are you leasing it from the jobber? Real estate ownership fundamentally changes your exit valuation, your SBA loan eligibility, and your long-term wealth-building potential. The difference between owning and leasing a well-located station is, over a 10-year hold, often larger than the entire purchase price.
Credit card processing arrangement. Given that swipe fees now consume over $21 billion annually across the industry, the processing rate and arrangement for your specific site matters materially to your net income. Do not skip this in due diligence.
Rizwan’s Take: The brand name is the headline. The contract is the deal. I have seen buyers get excited about a Shell sign and not read the take-or-pay minimum until after closing. That is a very expensive lesson. Read every line of the supply agreement before you commit to anything.
Which Model Is Right for Which Buyer
Here is how I would guide the decision based on your actual situation in 2026.
| Your Profile | Recommended Path | Why |
|---|---|---|
| First-time buyer, $100K–$300K liquid | Branded dealer (Valero / Shell / Chevron / regional dominant brand) | Accessible entry, no royalty on store sales, real estate path, maximum inside-margin upside |
| First-time buyer who wants a full playbook | ExtraMile (if in Chevron territory) or Sunoco APlus (Northeast/Mid-Atlantic) | True franchise training and operating support; far lower royalty burden than 7-Eleven |
| Experienced operator with 1 existing station | Branded dealer expansion or Circle K conversion | Scale via refinancing; avoid royalty drag on growing inside-store sales |
| Well-capitalised buyer ($750K+) in West Coast markets | ampm / ARCO (if in territory) | True franchise with strong food programme and genuine brand equity in specific geography |
| Investor, not a full-time operator | Branded dealer site with professional management and real estate ownership | Passive-adjacent income; franchise systems require active operator presence |
| Rural or secondary market buyer | Local dominant brand (often Valero, Marathon, or independent) | Brand perception is hyper-local; a national brand may not outperform the regional leader |
How to Buy a Gas Station in 2026: The Three Steps That Matter
Step one: Decide which legal structure you actually want. A true FTC franchise (7-Eleven, Circle K, ExtraMile, ampm, APlus) or a PMPA-branded dealership (Shell, Chevron, Marathon, Phillips 66, BP, Gulf) or an independent unbranded site. These are fundamentally different businesses with different costs, different legal protections, and different profit structures. Get this clear before you look at a single listing.
Step two: Demand the FDD if you are pursuing a franchise and read Items 7, 19, 20, and 21 line by line. Item 7 is your full investment range. Item 19 is financial performance — some franchisors provide it, some do not. Item 20 lists current and former franchisees. Call five of them before you sign anything. What they tell you will be worth more than any sales presentation.
Step three: Model the deal against 2024–2025 NACS benchmarks. 43.5-cent fuel margin. 39.6% foodservice share of in-store gross profit. ~$21 billion industry swipe-fee burden. BizBuySell median earnings multiple of 3.76 times SDE. If the deal you are looking at cannot produce acceptable returns against those benchmarks, the brand on the canopy will not save it.
If you want a more detailed breakdown of the full gas station acquisition process — including what to look for in an environmental inspection, how to read a fuel jobber statement, and what an SBA lender actually wants to see — read my full guide on Buying a Gas Station Business.
The Bottom Line for 2026 Buyers
The best gas station franchise to buy in the USA in 2026 is not a universal answer. It depends on your capital, your market, your operating capability, and what you want to build.
If you already hold a Chevron fuel agreement, ExtraMile offers the best royalty economics in the segment — low fee, capped ongoing cost, proven sales lift. If you want the world’s most recognisable c-store brand and can accept giving up half of your gross profit, 7-Eleven still has scale that no competitor matches — but go in with clear eyes about the franchisee satisfaction data and the current contraction. Circle K has attractive royalty math but severely limited franchise availability. Sunoco APlus has the lowest entry fee and works for the right buyer in the right market. ampm/ARCO delivers West Coast brand power at a royalty rate that requires very strong fuel volume to pencil out.
For most first-time buyers in 2026, however, the right answer to “should I buy a franchise gas station” is no. A branded dealer site with the dominant local fuel brand, a negotiated jobber agreement, real estate ownership, and a strong independent c-store operation built by you — not dictated by a franchisor — is where the best unit economics live. No royalty on inside sales. No corporate governance restricting your vendors. No right of first refusal limiting your exit. Real estate that compounds in value. And every dollar of operational improvement going directly into your pocket.
That is the model I have used to build from one station to 22. And it is the model I walk serious buyers through before they sign anything.
Ready to Evaluate a Specific Deal or Brand?
If you are actively looking at a gas station acquisition — whether it is a franchise, a branded dealer site, or an independent — and you want an operator’s eyes on the numbers before you commit, I do paid 45-minute strategy calls. The first 15 minutes are diagnostic. If it is not a good fit, I will tell you and refund you. No pressure.
Book a 45-minute strategy call with Rizwan →
You can also watch the full video breakdown of all 10 gas station brands — ranked and scored with real operator data — on my YouTube channel.
And if you want to see the kind of operation you are buying into, visit RS Business Investments & Coaching on Google to learn more about how we operate.
Rizwan Shuja is a 22-station operator based in Central Texas with 21 years of experience in gas station acquisition, operations, and coaching. He is not affiliated with any of the franchise brands mentioned in this article. All investment figures are sourced from publicly available FDDs, NACS industry data, and BizBuySell transaction data as of May 2026.