ExxonMobil franchisees in New Jersey may have the opportunity to purchase their gas stations

NJBIZ is reporting that last month a bill was passed in New Jersey by the Legislature which would give about 600 independent gasoline dealers in the state of New Jersey an opportunity to purchase the real estate their gas stations are located at if the bill becomes law. 

The bill was originally created to provide ExxonMobil's 246 independent gasoline franchises in New Jersey the opportunity to purchase the gas stations they currently do business at before the ExxonMobil franchise offers to sell the property at the gas stations to other outside parties.  This would give the current franchisees the chance to continue to sell gasoline at the station they currently own as opposed to having to leave their ExxonMobil and start over again on their own somewhere else.  

The cause for this bill came about after ExxonMobil announced a few months ago that they were seeking to sell an unspecified number of their gas stations to one or more large distributors.

If the bill becomes law it will be extended to all New Jersey oil marketers which would affect approximately 3,000 New Jersey gas stations. 

If you are looking to purchase a business or purchase a franchise in New York or New Jersey contact Staten Island business lawyer and franchise attorney.