Sinclair Petroleum
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Sinclair Petroleum has developed a solid business foundation as a reputable oil distributorship. From 1986 to 1997, sales records reflected steady growth. Eight out of the ten reseller accounts have shown increases in average gallonage per month purchases during the 1998 to 2000 two-year period.
Sinclair - Natural Gas Company
Gallons sold in the kerosene segment were consistently increasing through 1999 with a slight decline in 2000. A surprising increase has been occurring in the gallonage sold in the "other" category between 1998 and 2000. Thus, there is a healthy positive trend for these two categories of business as reflected in their sales revenues.
Sinclair's financial statements reflect declining values in total sales revenues since 1997. Significant revenue decreases have occurred in the largest two categories of business:
- Unleaded natural gas
- Regular gasoline
The overall net income dropped dramatically from $58,776 in 1997 to $(24,694) in 1998. But since that time, the company has shown signs of recovery with a net income of $27,969 in 2000.
Family-Owned Business
Since Sinclair is a family-owned business, the weakness of internal dissent over decisions that need to be made is present. Emotions may impede the ability to make the most appropriate and accurate decision. Certain members of the family lack the experience and financial knowledge needed to properly evaluate the situation.
With only a moderate level of competitive pressure and the possibility of purchasing Cooper Oil, Sinclair has the opportunity to choose between alternatives for the future welfare of the business. The years of experience in the industry can be very advantageous for Sinclair. Good consultation and advice from expert sources aides in the decision-making process.