Growth markets for c-stores
HOUSTON — There has been recent speculation about where c-store growth will be coming from in the future, and development and site-assessment consultant Jim Fisher of IMST Corp. shares his thoughts, according to CSPnet.com.
“No one would argue anyplace in Texas is popular — 1,200 people a day are moving to the state, so there's no area that isn't significant,” he said.
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Asked where else he sees growth happening, Fisher said: “The Gulf Coast is exciting, the Dakotas. Parts of Indiana because of growth in Ohio. Phoenix is just now coming back. It was overbuilt when the bottom fell out. Denver is very welcoming to business. Salt Lake, Nashville, Charlotte and Raleigh. Columbia, S.C. — we're seeing amazing growth there.”
Certain areas, like Los Angeles, San Francisco, and even major cities on the East Coast, like New York and Boston, can be tough with permitting and approvals, Fisher said. Places with lots of red tape, he noted, make it very difficult to build numerous stores quickly to take advantage of an emerging market.
While the economy may not be in great shape, said Fisher, interest rates are low, and profit margins in the c-store industry are “good for the most part,” which has led to interest in investment.
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