Love’s Travel Stops & Country Stores
“Revenue $26.09 B As of December 2013
At a Glance
- Industry: Convenience Stores & Gas Stations
- Founded: 1964
- Country: United States
- CEO: Tom Love
- CFO: Doug Stussi
- Website: www.loves.com
- Employees: 10,600
- Fiscal Year End: Dec 31, 2012
- Sales: $26.09 B
- Headquarters: Oklahoma City, OK
#9 America’s Largest Private Companies
Love’s Travel Stops & Country Stores was founded by Tom and Judy Love in 1964 and remains family owned and operated. The company has over 300 locations in 39 states. Locations have gas stations, convenience stores, fast-food restaurants, shower rooms, trucking supplies and access to the internet.”
“Love’s Travel Stops & Country Stores History
In 1964, with $5,000, Tom and Judy Love started Musket Corporation – the predecessor to Love’s Country Stores – and leased an abandoned filling station in Watonga, Oklahoma. Within a few years, Musket Corporation operated about 40 such stations. Then, in 1972, the first Love’s Country Store opened in Guymon, Oklahoma. This store was revolutionary because it combined a convenience store with self-service gasoline, which was a new concept at the time.
During the early 1970s, OPEC embargoed oil shipments to the United States for supporting Israel during the Yom Kippur war. While other filling stations were forced to close due to price constraints and fuel allocations, Love’s relied on hard work and reduced margins to stay open, generating customer goodwill along the way. By 1981, Love’s was successfully operating 90 combination convenience and filling station stores across Oklahoma and surrounding states. Love’s expanded to the interstate highways and opened its first Love’s Travel Stop concept in Amarillo, Texas.
In 1992, Love’s added quick-service restaurants with a Taco Bell Express unit in an Oklahoma City travel stop. The popularity of Taco Bell Express in Love’s Travel Stops created demand for more food choices at travel stop locations. Available food concepts now include Arby’s, Carl’s Jr., Chester’s Fried Chicken, Godfather’s Pizza, Hardee’s, McDonald’s and Subway. Today, more than 280 such restaurants are located in Love’s convenience stores and travel stops nationwide.
In 2000, Love’s Country Stores debuted at number 446 in Forbes Magazine’s annual list of America’s largest private companies. By 2013, Love’s Travel Stops had climbed to No. 9. Currently, Love’s operates more than 300 locations and employs 10,000 people in 39 states. With annual sales exceeding $26 billion, Love’s is a proven leader in the travel stop and services industry and is continuing to grow.”
*Information from Forbes.com and Loves.com
**Video published on YouTube by “LovesTravelStops“