Fast-expanding forecourt operator Seevaratnam Muresh, who became a new entrant to the Top 50 Indies list this year, has completed on his 12th site, the third acquisition for him this year.
The former accountant has purchased Whynot Service Station in Sutton Coldfield – the furthest north his business has ventured, with his other sites based in London, Gloucestershire, Oxfordshire, Hampshire and Wales.
Covering a wider geographic area he is now on the search for an operations manager to help him run his business, which he expects will settle at around 14 to 15 sites.
As Muresh likes to do with his acquisitions, he has shut the Jet branded forecourt and unbranded shop, to work on a significant refurbishment. In the case of Whynot Service Station he will spend £200,000 on the shop alone.
The 1,000sq ft outlet is due to re-open early August with a food to go range including West Cornwall Pasty Co, Rollover hotdogs, and a Tchibo coffee and slush machine, as well as a greater offer of chilled and frozen food.
The store is also being fitted with a new till system from TSG, and will take Parfetts’ Go Local fascia: all elements that Muresh hopes will help him double turnover from its existing £10,000 a week.
Muresh also hopes to bring down the price of the site’s fuel, which he plans to keep being supplied by Jet in a renegotiated agreement. This, he hopes, will treble volume from the current one million litres per annum.
Muresh, who also needs to upgrade the fuel pumps on the site, says he is not actively seeking more sites. He was approached to buy this latest business after an earlier article appeared about him in Forecourt Trader.
The previous owner of Whynot Service Station, who had this single site and leased it out, is retiring. And Muresh was attracted by the size of the forecourt – at 0.37 of an acre – as well as it being in an affluent area with potential to trade customers up with shop purchases, and also that it had three other revenue streams.
There is a hand car wash business, and an MOT centre on a five year lease with the business, and another company is renting office space above the shop.
Muresh will develop the site to make the most of the space, adding to the InPost parcel lockers with other services which might include laundry machines.
“But my primary consideration is to re-open as quickly as possible,” he says.
Muresh is now considering the potential of two further forecourts which are for sale. “I am not really chasing sites, but am looking to buy a couple that I am talking to. I am quite comfortable at a number of 14 to 15 sites,” he says.
He adds: “I manage the business myself and have got to the stage that I’m looking to employ someone as it is difficult for me to get to all of my sites which span Birmingham to South Wales, and Bristol and Gloucester.”
