Jerry Tipps has already found success in his sole Jerry’s Junction store in Muncie, Ind. He’s had so much success, that he plans on increasing it tenfold by starting up 10 more stores by the end of the year.
“It’s an aggressive number,” Tipps told the Star Press. “I’m hoping to have a minimum of five, maximum of 10 open by the end of the year.”
Tipps is no stranger to the industry, spending the last 30 years running gas and conveneience stores. However, even an industry vet like him may have trouble in the profit-deprived Indiana area he operates within. The state sadly holds one of the lowest profit margin averages on gasoline in the country, ranking 44. But that doesn’t deter Tipps, who feels that having multiple stores is the only way left to make a buck in the gas industry.
“If you’re going to be in business, do it the right way,” he said. “In order to be successful in this business, you have to own multiple locations because profit margins are so thin.”
Tipps bought his first store from G&G Oil last year after Marsh shut down the Village Pantry store that operated there.