Jay Ankur Bansal is an astute businessman who has truly revolutionized the real estate industry in over the past 15 years.
Cutting his teeth in the business by operating several Mobil gas stations and convenience stores in the Valley, Jay pursues a forward-thinking momentum. The businessman has taken the business operations to staggering new heights since he made that initial investment back in 2004.
What drew him to this lucrative business venture? Jay Bansal chimes in, “Simply put, gas is a highly consumable product that drives customers and related products; these sales can greatly enhance real estate values and prospects to the entire neighboring communities. With Mobil, I saw a budding opportunity to expand my reach and cross over into new markets.”
Using his natural flair for business practices, Jay plans to widen his current grocery offerings to include fresh produce, a dessert bar, and even a drive-thru option. Mr. Bansal has expressed that the store could well double in size as there is a huge remodeling project in the works.
When asked about his view of the real estate market as it stands today, the businessman has an apt response. “My philosophy with real estate is simple; success starts with a great blueprint. Setting the right parameters is a top priority when scoping out a commercial real estate deal.”
He continues, “For instance, with the gas station, the first location I invested in had a meager collection of grocery stores within walking distance, leaving the local community somewhat handicapped. By developing a business model that combined a gas station and a convenience outlet, not only were we bridging a gaping hole in the supply chain, we were also creating a self-contained community and thereby, elevating the value of neighboring real estate.”
He makes an excellent point. Statistics show that there are just 127,590 fuel stations in the US with attached convenience stores and, unsurprisingly, these stores are responsible for roughly 80% of the fuel sales in the country.
Fast forward 15 years later, former attorney Jay Bansal has carefully cultivated his entrepreneurial prowess. He now owns and operates several Mobil gas stations in Phoenix, Arizona, with all of these locations having attached convenience stores.
“In a larger sense, it’s also important to understand the risks associated with commercial property,” Mr. Bansal advises. “Even among similar ventures, the risks fluctuate drastically and, hence, it’s important to thoroughly review the financial condition and predicted forecasts of a particular market before diving in headfirst.”
Jay A. Bansal chooses to actively participate in the business rather than adopt a backseat approach. He is constantly innovating his inventory strategies, management, and internal and external protocol tactics to stay abreast of the fluctuating market.
For Jay, there’s no looking back. The accomplished entrepreneur and his wife of 25 years, Rajani Bansal, are forging ahead, taking each new business challenge in stride. Eager to evolve their portfolio, the husband-wife duo is now looking at hotel and apartment projects in the Phoenix area.