24A – Venture Concept No. 1 . OTM Gas (On The Move)

Opportunity

Who has the need?

Anyone who is a frequent customer of stationary refueling stations (7-11, Mobil, Speedway, etc) to purchase fuel for their vehicle. Anyone who owns or frequently uses vehicles that require liquid fuel are potentially people with this need.

What is the nature of the need?

The nature of the need is that most people waste much of their valuable time refueling their vehicles. This opportunity makes it so that people no longer have to go out of their way to find a gas station. The gas station comes to them. 

·      What are the forces or changes in the environment creating this opportunity?

The forces in the environment that created this opportunity is the need for gasoline but the absence of a way to get that gasoline to you rather then you going to it. 

·      How is this market defined geographically and demographically?

The market is geographically defined as anywhere that has gas stations in use. The market is demographically defined as anyone who is a frequent customer of stationary refueling stations (7-11, Mobil 1, Speedway, etc) to purchase fuel for their vehicle. Anyone who owns or frequently uses vehicles that require liquid fuel are potentially people with this need.

·      How are customers currently satisfying this need?  And how loyal are they to whatever they use now? 

Customers are currently satisfying their need for fuel by driving out of their way and using up valuable time that could be used elsewhere by refueling their vehicle at a gas station. There is little to no loyalty in the fuel market. Customers tend to go to whatever gas station is closest or the cheapest.

·      How big is this opportunity?

Very big due to the number of vehicles on the road today. Gasoline is one of the most used resources on our planet today.

·      How long will the “window of opportunity” be open?

This opportunity window will be open until gas powered vehicles are no longer on the road. 

Innovation

     

-My opportunity is a mobile refueling station/truck that comes to you rather than you going to it. There will be an app that allows you to pinpoint your vehicles stationary location and then request for a truck to come and refuel the said vehicle. Credit Cards or other payment methods will be attached to the app, which means your presence is not necessary during the refueling process. The amount of fuel you requested or however much it takes to refuel your vehicle will automatically be charged to your account after the service has been provided.

Venture Concept

-My innovation will address the issue of having to travel to a gas station to refuel by having the gas station come to you. Customers will switch to this service because of how much time it will save them. Customers will no longer have to waste time trying to find a gas station or refueling their vehicle. 

-The competitors of my potential venture are all stationary gas refueling companies (7-11, Speedway, Mobil1, etc). The weakness of these competitors is their stationary nature. All the competitors do not have a mobile refueling service.

-Price points and business location are the two things that define my business concept the most. The price points of the fuel will be similar, if not the same as stationary refueling stations. The business location is the most defining concept of my business because it has no location. It is a mobile refueling service that can be anywhere at any time. 

-To organize the ongoing growth of my opportunity, I would need to employ app developers, drivers, and service workers who do the refueling. 

The Three Minor Elements

-My most important resource in this opportunity is the mobile nature of my service. My service comes to you rather than you coming to it. 

-The next step in my venture is to widen the range of fuel types available. (diesel, high octane, etc) 

-In five years I hope to be operating in multiple states and I hope to be the leading refueling service on the market.