A fuel retail license application will be your next step if you are the ‘chosen one’.
An application for a new retail license for a filling station must be submitted and approved before fuel retailing activities can commence on a new site, or in the event of an ownership change (or change in the majority shareholding of a legal entity) of the retailing facility.
Finmil will prepare the following to prove the business’s economic viability to the Department of Minerals and Energy
Net Present Value Calculation
The net present value calculation must satisfy the Controller that the business is viable taking cognisance of the goodwill paid. The net present value calculation will clearly indicate if the goodwill paid was excessive or not.
Business Plan
The filling station business plan must satisfy the Controller that the business is and will stay a going concern, with the right person in charge.
These two crucial aspects present challenges to non-industry experts, as no retail license will be approved if the net present value calculation is inaccurate and incorrect.
Finmil is highly experienced in the preparation and submission of a fuel retail license application at the Department of Minerals And Energy, taking cognisance of the requirements of the Petroleum Products Act.
