Business Model Canvas: Business Analytics on Gas stations with C-stores in United States

Abstract

Today’s gas stations with convenience stores in the United States are not inclined to only selling gas and diesel, they are now offering more value propositions to their respective customers following their needs and choices. In the United States, people from every corner are now connected to gas stations and convenience stores for their daily needs. Therefore, any further improvements in this sector would benefit them even more. Gas stations with convenient stores can develop and maintain Business Model Canvas (BMC) for further improvement in their business and create even better value propositions for their customers. BMC will facilitate gas stations with better control of their business and help increase revenue streams. It also helps optimize the cost structure and fair pricing. Therefore, applying BMC model could facilitate gas stations with endless benefits by integrating all the nine segments of the model. In this research work, we designed our plan to explain the BMC model and analyze segments to the most relevant extent. Then we like to apply the model in a typical Gas station with C-store in the United States of America to see how a gas station can develop BMC in their business. In a typical gas station with C-store, we see, the customer segment composed of local consumers, commuters, travelers, and late-night shoppers. Gas stations are striving to extend their value propositions to attract more consumers and satisfy their growing needs. Value propositions include uninterrupted flow of gas/diesel supply, fresh produce, foods, merchandise items, friendly customer service, a wide range of products available in-store, ATM service, EV (Electric Vehicle) charging facility, car wash facility and more. Procurements of merchandise from various suppliers, building credit-worthy relationships with them, managing inventory/stocks are the key activities for this type of business. Key partners like banks, suppliers, delivery partners, and professional IT partners. A typical gas station with C-store may have multiple revenue streams. The cost structure of a typical gas station is classified as fixed costs and variable costs including suppliers’ pay, utilities pay, payroll, monthly rents, and maintenance costs.