Korey McDavid, founder of Juiced Fuel, dives into his entrepreneurial journey in mobile fuel delivery. He reveals how he launched with under $100K and navigated initial hurdles in customer acquisition. Korey discusses the development of a user-friendly fuel delivery app and emphasizes the importance of community engagement for scaling the business. He explores tapping into marine services and shares insights on balancing business with family support. Aspiring entrepreneurs will appreciate his advice on navigating industry challenges and future growth opportunities.
The inspiration behind Juiced Fuel stemmed from personal experiences highlighting the need for convenience in fuel delivery, especially for families and small businesses.
Initial growth strategies included leveraging social media for customer acquisition while navigating challenges of customer retention and expanding service offerings.
Deep dives
The Inspiration Behind Juice Fuel
The idea for a mobile fuel delivery service originated from the founder's experiences with his wife, who disliked the hassle of visiting gas stations, especially with children in tow. His background as a terminal manager gave him insights into the fuel distribution system and revealed a gap in the market for servicing smaller customers, including personal vehicles, boats, and small businesses. Observing the increasing demand for delivery services post-COVID spurred the realization that mobile fuel delivery could be a viable business model. This led to the founding of Juice Fuel, focusing on convenience and accessibility for customers who previously had limited options.
Building the Business Structure
The business was initially launched as a side project, allowing the founder to balance both his job and the new venture. After developing a minimum viable product (MVP) for the app, which facilitates fuel delivery requests and payments, he raised funds from family and friends. The combined investment of around $100,000 was used to purchase the necessary equipment, including a truck and fuel tank setup. As the company gained traction, hiring additional staff like his brother helped scale operations while allowing the founder to maintain his full-time employment.
Strategies for Customer Acquisition and Growth
To attract initial customers, the company utilized Facebook ads to gauge interest, leading to early signups before officially launching the service. A challenge emerged as potential customers often expressed interest but delayed signing up until they needed fuel, requiring education on the convenience of preemptive ordering. As the business grew, focus shifted towards increasing customer retention and expanding service offerings, including targeting higher-margin markets like commercial fleets and boats. The founder aims for regional expansion, with plans for future vertical integration into the wholesale supply side to enhance operational control and profit margins.
I sat down with Korey McDavid, founder of Juiced Fuel (https://juicedfuel.com/), to discuss the ins and outs of the mobile fuel delivery business. Korey shares how he came up with the idea, how he launched with under $100,000, and what it takes to manage a business that's breaking new ground in personal and marine fuel delivery. We also talk about the challenges of building a custom app, securing the first customers, and scaling.
Timestamps below. Enjoy! --- Watch this on YouTube instead here: tkopod.co/p-yt Ask me a question on or off the show here: http://tkopod.co/p-ask Learn more about me:http://tkopod.co/p-cjk Learn about my company: http://tkopod.co/p-cof Follow me on Twitter here: http://tkopod.co/p-x Free weekly business ideas newsletter:http://tkopod.co/p-nl Share this podcast:http://tkopod.co/p-all Scrape small business data:http://tkopod.co/p-os --- 00:00 Introduction to Juice Fuel and Its Origins 04:46 The Development of the Mobile Fuel Delivery App 10:00 Customer Acquisition and Initial Challenges 15:13 Pricing Strategy and Revenue Model 20:04 Future Expansion Plans and Market Positioning 25:00 Advice for Aspiring Entrepreneurs
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