CONROE, Texas -- The high cost of gasoline helped fuel the decision by Loretta Cartwright to sell the three Pit Stop convenience stores launched in 1985 in favor of seeking a new source of income, according to a report by The Courier of Montgomery County.
Cartwright spent most of Monday visiting the three stores her family has owned in and around Conroe for 27 years, taking inventory, meeting with vendors and locking the doors one last time.
"It's a totally different business environment these days," she told the newspaper. "Gas prices are up, competition is up and the profit margins are down--way down."
She said that they barely break even on gasoline sales. And if customers pay with credit cards, they lose another 2% to 3% in service fees. For gasoline-only customers paying on credit, that means the stores actually could lose money on a sale, the report said.
"There is a lot more competition--consumers can buy their gas at grocery stores," Cartwright added. "We had to keep our prices in line or lose customers."
When her parents, Ted and Inez Mathis, started the family business, the c-stores were a way to serve the community and support the family. Family members regularly worked at the store and the family opened locations in Cut and Shoot, Texas, as well as in Conroe.
"We developed a good rapport with our customers and got to know many of them by name," she said. "We are very grateful for the support we received over the years--that's something we are going to miss."
Cartwright said the stores will be closed for remodeling but should reopen under new ownership in a few months.
"The convenience store business was good to us as were all of the people that supported our family over the years," she told the paper. "We wish the new operators well, but it's time for us to move on."
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.