$4 Gas Became Profit Source For One Gas Pump Manufacturer
Unusual Business Ideas That Work:
Tom McGee’s business is surging faster than the price of gasoline.
That’s because PMP Corp. is one of the few places in the U.S. that gas stations can turn to when they need old-style gas pumps adapted to register prices over $4 a gallon.
The mechanical dials on many vintage pumps can’t register prices over $3.99 a gallon or ring up single sales north of $99.99, which helps explain why Mr. McGee held an emergency meeting at his company here May 21.
The brainstorming session, in a conference room at PMP, focused on how to increase output at the small factory in the face of a sudden surge of demand for its extremely specialized service. PMP takes the mechanical internal organs from old gas pumps and modifies them so they can tally higher numbers. Many small-town stations, especially in remote, rural areas, can’t afford to buy new pumps, which can cost as much as $10,000 each. PMP’s retrofits are between $600 and $800.
‘Our business was relatively flat until the first week of March,’ says Mr. McGee, the company’s president. ‘Then the price of fuel, mainly kerosene and diesel, went over $4 a gallon and the phone hasn’t stopped ringing.’ Read full story.
Image: PMP Corporation.
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A year ago, the signboard company make some money already when the gas price above $1 per liter in Canada [petrol station signboard only have 2 digit for gas price at that time]. This time is US gas pump manufacturer.
Today, the gas price is $1.37 per liter in Toronto. I really don’t know how far the gas price can go.