When Jim first came to St. Cloud in 1977 the price of #2 fuel was 17.6 cents per gallon. Then, the price didn’t change but maybe once a year. Invoices had to be figured out by hand as there were no portable calculators then.
FUN FACT
TIMELINE 1975 – James Moores moves to St. Cloud and starts JM Oil as a commissioned agent for the Amoco Oil Company. His initial clients are primarily homes, farms and construction sites, with a limited number of gas stations. He has sales of approximately $500,000 and two employees. The company is located in east St. Cloud. 1980 – Mike Moores begins working in the business by sweeping floors and loading trucks; JM Oil expands into lubricants, positioning the company for growth. 1983 – JM Oil purchases their first convenience store on West St. Germain Street in St. Cloud
1990 – Mike Moores wins two AMA National Road Racing Championships. 1992 – Mike Moores is in a serious road racing accident. He begins working at JM Oil and starts discussing succession plans with his father.
1984 – Jim Moores purchases Mobil Oil Company’s interest for the St. Cloud area and relocates the operations to Southway Drive in St. Cloud.
1998 – JM Oil builds a convenience store near McStop. The store does not perform to expectations and they sell it in 2001. 2000 – Jim Moores retires; Mike Moores begins a 10-year buy-out plan of the business; the company has sales of $75 million, approximately 100 employees, and 10 convenience stores.
1995-1996 – JM Oil purchases the Tasto’s Amoco on Division Street in downtown St. Cloud where Sentry Bank is now located and the JM Central station across from Tenvoorde Ford. 1986-1988 – Mike Moores attends St. Cloud State University, then leaves school to compete in Motorcycle Road Racing on the AMA National Circuit.
1995-1998 – JM Oil purchases five more convenience stores; the company has sales of about $50 million and approximately 70 employees. Brian Laudenbach joins JM Oil to focus on growing the retail sector of the business.
Bulk oil plant, 1975
2012 – JM Oil sales approach $120 million, with 200 employees, and 18 convenience stores. Mike Moores sells the wholesale operation to Lube Tech. JM Oil, now called J. M. Companies, Inc., relocates to 1222 Kuhn Dr., St. Cloud.
2014 – J. M. Companies drops their proprietary SpeedStop Gas & Goods brand and converts all of their stores to SuperAmerica franchises. 2015 – J. M. Companies owns and operates 22 SuperAmerica stores, four off-sale liquor stores, and two strip malls. In addition to the 18 SA stores in St. Cloud, the company has stores in Foley, Pierz, Pequot Lakes and Jenkins. They employ over 200 people and have annual sales of over $85 million.
N O V E M B E R / D E C E M B E R 2 0 1 5 //
www.businesscentralmagazine.com
43