Financial Model, Gas Stations, Retail, Service Businesses, Specialty Stores

Break-Even, Business Valuation, Cash Flow Projections, Debt Service Coverage, Financial Model, Loans, Mergers and Acquisitions Model, Pro-Forma

Underwrite a gas station / convenience store acquisition the way an SBA lender will — not the way the broker pitches it. This is a purchase-underwriting model for a single-site fuel + c-store, built for a searcher, ETA buyer or owner-operator financing the deal with an SBA 7(a) loan. Every other template on the market is an operating or startup forecast; this one underwrites the acquisition.

The engine is a Fuel-Margin (cents-per-gallon) + Inside-Merchandise gross-profit model that puts back the three costs a broker’s sheet leaves out: (1) credit-card swipe fees that eat roughly 19% of the fuel gross margin (about 6–9 cents per gallon — the industry’s #2 expense after labour), so your fuel line is the net you actually keep; (2) the owner working 60–70 hours a week behind the counter, replaced by a market manager; and (3) a UST / environmental reserve and the Phase I ESA, because strict liability follows the title.

Put those back and the model prints the true DSCR (1.69x) next to the broker’s naive DSCR (2.60x) — the gap is exactly the swipe fees, the manager and the reserve. Because fuel margin is the most volatile line, a normal −30% fuel-margin year drops the DSCR to 1.08x, under the 1.25x lender floor: the honest headline is that the risk is the margin, not the volume. And because fuel is a low-margin pass-through, you read the business on gross profit, not revenue — the inside store’s book covers debt service 1.98x on its own, the sticky, EV-resilient part you are really buying.

Ten machine-verified sheets (Excel + Google Sheets, every formula recalculated on three independent engines): START HERE, Setup Inputs (3 profiles — Balanced, Fuel-Heavy, Inside-Forward), Fuel & Merchandise Revenue Engine, SDE & Valuation, Sources & Uses (with a fee-simple / real-estate option), 5-Year P&L, DSCR & Debt (true vs naive vs down-case with a real amortization schedule), Returns & Exit, Dashboard, and Benchmarks & Sources.

Base case (Balanced, business-only): 1.2M gallons/yr; net fuel profit $341,671 after $78,329 of swipe fees; inside gross $330,000; gross profit $716,671; SDE $374,671; Adjusted EBITDA $314,671; purchase price $1,124,014 (3.0x SDE); SBA loan $1,008,411; leverage 78.7%; DSCR true 1.69x / naive 2.60x / down-case 1.08x; inside coverage 1.98x; debt yield 28%; cash-on-cash 43%; 5-year equity multiple 4.97x (leverage-amplified, flagged); no IRR.

Includes a 23-page PDF user guide covering every tab, the fuel-margin engine, the swipe-fee / owner / UST add-backs, the SBA capital stack and the honest limits (fuel margin normalized not peaked; long-term EV/volume risk flagged). Educational planning tool — not financial, legal or investment advice. Confirm your fuel-supply agreement, environmental due diligence and SBA term sheet before relying on the output.

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