Gas Station & Convenience Store Acquisition & SBA Underwriting Financial Model
A fuel + convenience store that pencils on the broker's sheet — and gets repriced at the bank. This is an acquisition-underwriting model for buying a single-site gas station / c-store with an SBA 7(a) loan — for the searcher, ETA buyer or owner-operator who has to defend the numbers to a lender. Every other template is a startup or operating forecast; this one underwrites the purchase.
The engine is a Fuel-Margin (cents-per-gallon) + Inside-Merchandise gross-profit model that puts back the three things a broker's sheet leaves out: (1) credit-card swipe fees that eat ~19% of the fuel gross margin (the #2 expense after labour), so your fuel line is the net you keep — not the gross the seller quotes; (2) the owner working 60-70 hours behind the counter, replaced by a market manager; and (3) a UST / environmental reserve and Phase I ESA, because strict liability follows the title.
Put those back and the true DSCR is 1.69x while the broker's naive DSCR reads 2.60x — the gap is the swipe fees, the manager and the tank reserve. And 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. That down-case is the honest headline: the risk is the margin, not the volume.
Fuel is a low-margin pass-through, so you read this business on gross profit, never revenue (SDE margin is a structurally-low ~7% — normal). Of $716,671 gross profit, the inside store makes 46% and net fuel 48% — and the inside book (foodservice especially) is the sticky, EV-resilient part that covers debt service 1.98x on its own.
10 machine-verified tabs (Excel + Google Sheets, every formula recalculated on three 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, real amortization schedule) · Returns & Exit · Dashboard · Benchmarks & Sources.
Base case (Balanced, business-only): 1.2M gal/yr · net fuel $341,671 · inside gross $330,000 · gross profit $716,671 · SDE $374,671 · Adjusted EBITDA $314,671 · 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-yr equity multiple 4.97x (leverage-amplified, flagged) · no IRR.
Includes a 20+ page PDF user guide that walks every tab, the fuel-margin engine, the swipe-fee and owner add-backs, the UST reserve, the SBA stack and the honest limits. 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.