Buc-ee's Targets 2019 for Florida Debut
Buc-ee's Targets 2019 for Florida Debut
Work will soon start on the first convenience store that will be operated by Buc-ee's in Florida. The company, well known in Texas for its pristine restrooms and colossal dispenser counts will begin construction this spring at the intersection of I-95 and LPGA Boulevard in Daytona Beach, Fla. Perhaps because of the size and scale of the facility, the zoning permit process has dragged into 2018 as traffic studies were necessary to get clearance.
Local press reports indicate that the mega-store will open for business in about 18 months. Site plans call for an immense 53,254-square-foot store, which would make it considerably larger than a nearby supermarket. Buc-ee's won't stop with just one Florida store, however. OPIS has previously reported that another 50,000-square-foot store with 80 pumps is planned for the Ft. Myers area in Southwest Florida, and a 52,000-square-foot station is planned in St. Augustine with 120 pumps.
Despite the size of the facility, it is not intended as a truckstop and only allows 18 wheelers for deliveries.
Buc-ee's has 32 locations in Texas but clearly wants to roll out more and has identified Florida as the best expansion market. For now, it has canceled plans to expand in Louisiana, a state once identified for stores.
Some of the huge Texas locations move monthly volumes measured in millions of gallons. The company buys from major and independent refineries, but everything that moves through a Buc-ee's pump is unbranded. Sales are believed to top Costco in many cases, with six to seven times the monthly volumes of high-volume successful retailers like QuikTrip, RaceTrac, Sheetz and Wawa.
OPIS data on market efficiency, a ratio compiled by taking a given retailer's share of outlets in a specific zip code and comparing that to the volumetric share, is off the charts. Top level retailers like Wawa, QuikTrip and RaceTrac tend to have efficiency ratings of between 4 and 5. (In other words, they might have one percent of sites in a given zip code, but 4% or 5% of volumes).
In Texas, Buc-ee's had a market efficiency ratio last year of 9.2, topping all traditional and Big Box retailers. The company prices aggressively and sold unleaded regular at a price some 10.4cts/gal below competitors in 2017, according to OPIS rack-to-retail data.
Local press reports indicate that the mega-store will open for business in about 18 months. Site plans call for an immense 53,254-square-foot store, which would make it considerably larger than a nearby supermarket. Buc-ee's won't stop with just one Florida store, however. OPIS has previously reported that another 50,000-square-foot store with 80 pumps is planned for the Ft. Myers area in Southwest Florida, and a 52,000-square-foot station is planned in St. Augustine with 120 pumps.
Despite the size of the facility, it is not intended as a truckstop and only allows 18 wheelers for deliveries.
Buc-ee's has 32 locations in Texas but clearly wants to roll out more and has identified Florida as the best expansion market. For now, it has canceled plans to expand in Louisiana, a state once identified for stores.
Some of the huge Texas locations move monthly volumes measured in millions of gallons. The company buys from major and independent refineries, but everything that moves through a Buc-ee's pump is unbranded. Sales are believed to top Costco in many cases, with six to seven times the monthly volumes of high-volume successful retailers like QuikTrip, RaceTrac, Sheetz and Wawa.
OPIS data on market efficiency, a ratio compiled by taking a given retailer's share of outlets in a specific zip code and comparing that to the volumetric share, is off the charts. Top level retailers like Wawa, QuikTrip and RaceTrac tend to have efficiency ratings of between 4 and 5. (In other words, they might have one percent of sites in a given zip code, but 4% or 5% of volumes).
In Texas, Buc-ee's had a market efficiency ratio last year of 9.2, topping all traditional and Big Box retailers. The company prices aggressively and sold unleaded regular at a price some 10.4cts/gal below competitors in 2017, according to OPIS rack-to-retail data.
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