If you are thinking of opening a petrol pump and do not want to invest much capital, then the COCO (Company Owned Company Operated) model is perfect for you. In this model, you get a petrol pump prepared by the company, which you just have to run. Under this, you only have to deposit a security amount. Let us know What is Rule to Open Government Petrol Pump in India? How Much Land and Fund is Required?
COCO Petrol Pump: If you are thinking of opening a petrol pump, there is a way to do it with minimal capital. This model of oil companies will be right for you. We are talking about the Company Owned Company Operated (Coco) model under which you can get a petrol pump dealership without investing much. In this model, the company gives you a ready-made petrol pump and you only have to run it. Let’s know about it in detail.
Coco Petrol Pump means Company Owned Company Operated Petrol Pump. All you need is submit an FD with a bank guarantee as decided by the company, which is kept as a security deposit. This amount depends on the average sale of the pump for three days. Moreover, you have to pay between ? 5/- and ? 10/- lakh for expenses that are later reimbursed, depending upon charges.
Let’s understand through example how much it can cost. Suppose the daily sale of a pump is ? 20 lakh. Therefore, the average sales of three days will be ? 60 lakh . If ? 10 lakh is added to it, then the total amount will be ? 70 lakh. That is, you have to pay a total of ?70 lakh to get the dealership.
Companies take out advertisements for its dealership on regular intervals. You can download the advertisement and apply by following the given guidelines. Fill the application form completely and give all your personal and educational details in it. The rules of different companies are also different, which should be followed carefully. There is a condition that you have to show your financial capacity. So you get the FD prepared according to the terms of the company while filling the form. Once your application is accepted, you will be called to the regional office of the concerned company, where you will be interviewed. In the interview, your professional behavior and knowledge are tested. Companies decide some criteria of the selection process on basis of which the dealership is selected. These criteria are as follows:
- Indian National Citizen
- Age limit : 21 to 60 Years
- Minimum Educational Qualification : 10th Pass
- Financial Potential : Depends on the location of the petrol pump and which company the pump belongs to.
- Marks Details
- Category
Points are rewarded on which merit based selection is done.
According to Age Priority is Set As:-
By 21 to 35 Years : 25 points
35 to 50 Years : 21 points
50 to 60 Years : 17 points
According to educational qualifications:-
10th Pass : 15 points
12th Pass : 18 points
Graduate : 21 points
Post Graduate : 25 points
Financial Potential:-
?15 Lakh : 0 points
?20 Lakh : 10 points
?30 Lakh : 30 Marks
Personal Interview 20 points
In India, petrol pumps play a crucial role in the daily lives of millions, serving as vital fueling stations that keep vehicles running smoothly. There are currently over 70,000 petrol pumps spread across the country, reflecting the growing demand for fuel as the number of vehicles increases each year. These pumps not only supply petrol and diesel but also offer various services, including air refills and vehicle maintenance products. Additionally, the unique features of petrol pumps in India, such as digital transactions and loyalty programs, enhance customer convenience. With advancements in technology and an increasing focus on renewable energy, many petrol pumps are also adapting to include alternative fuels, showcasing India’s commitment to sustainable practices in its fuel industry.
