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Business About Fuel

Discussion in 'Planning Your Business' started by briannagodess, Oct 12, 2015.

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  1. briannagodess

    briannagodess Entrepreneur

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    Hi!

    So my husband wants to venture into a different kind of business. It's about a fuel that can save your gas consumption in your car. He and his partners has started a site already. My question is: do you think it's wise to compete with large oil companies this way? It can be quite scary to compete with them as they are very powerful. This particular oil can even eliminate the need for "change oil" of the car. And it costs very affordable.
     

  2. Jade

    Jade Entrepreneur

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    Fight the power!

    In all seriousness, I'm sure your husband as a great idea if it truly means you don't have to replace your oil.
     
  3. EntrepreneurialSpirit

    EntrepreneurialSpirit Entrepreneur

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    I wouldn't look at it as competing with the large oil companies. I would keep it simple. Gain a patent for the innovation, ensure all of the logistics are in place, then have a prototype made with the help of a company that creates and test products for peoples innovations. I am not an expert in this but I would consult with a lawyer to ensure the appropriate steps are taken. If this is something that can be done by your husband, you and your whole family would be the richest people since the Gate's. Good luck!
     
  4. dyanmarie25

    dyanmarie25 Entrepreneur

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    You really don't have to compete with large companies. You just have to focus solely on your business, and how to make it a successful one. Don't think about competitions, rather, think about how you are going to improve your services so that more and more people would patronize you.

    Go for it. All the best! :)
     
  5. William Clements

    William Clements Moderator Business Owner Entrepreneur

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    You can also look at this another way. I would take EntrepreneurialSpirit suggestions as you do not want to get in any kin of legal trouble. After that, possible work with oil companies and sell to them and they sell this gas to gas stations and then they sell to consumers.
     
  6. pwarbi

    pwarbi Entrepreneur

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    For a small business just starting out I also wouldn't see it as competing with the larger companies, what your doing is creating your own small client base at first, your own corner of the market, and making that as successful and profiable as you can.

    Once that's sustainable, then you can look into slowly making it bigger if that's the way you want to go. To me a business is about making a profit, that's the first thing that needs to be achieved, anything after that is a bonus.

    I find a lot of small businesses try to expand to fast and greed comes in to play. You're making for example $1000 a week pure profit, after all the overheads have been paid, that's what you're banking. A lot of businesses will then after 6 months, seeing they're doing well, will risk what they've already earned and try to make $10,000 a week, and then fail and have to shut down 2 months later.

    For any new business, small steps and minimal growth is the way to go at the beginning.
     
  7. harpazo22

    harpazo22 Entrepreneur

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    That's such a great idea that your husband has come up with and I really hope it works out for him. That would positively effect a lot of people. I love hearing about creative new ideas people have come up with.
     
  8. pwarbi

    pwarbi Entrepreneur

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    I think energy will be one of the growth areas in the next few years as more and more people are looking at other ways to not only cut the cost of their utilities, but as governments try to get people to use other forms of energy, they will be introducing incentives to switch to solar and wind and that as well will make people explore what alternatives are available.
     
  9. EF-Roger

    EF-Roger Entrepreneur

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    Depends on what it is. There are many products already that save fuel, clean gas etc;
     
  10. smithereens

    smithereens Entrepreneur

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    Having a solution to address the energy needs of people today is good business. And if the technology they offer is novel then by all means they should have it patented. When it comes to competing with big companies, I would think along the lines of collaboration instead of competition. As long as the legalities are taken cared of, I think the company could earn well with this kind of set-up in the long run. Good luck!
     
  11. 111kg

    111kg Entrepreneur

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    I honestly think it's a grey area. Does he and his team develop this product or does he buy it and then resells it? Because if he buys something that he is told that will cut down the fuel consumption, there is a good chance that he'll be scammed. Had it been such a product by now, it would have been bought already by most of the independent companies, I can tell you for sure.
     
  12. Flintrock

    Flintrock Business Owner Entrepreneur

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    Before investing heavily, it would be good to do a lot of research first to make sure no one else has thought of it already and it is just not on the market.

    If the idea has not already been claimed and you have conducted appropriate testing, you may start small. Find a small company that has a small fleet of vehicles (plumbing company, pest control company, etc.). If they work good as a test market, you now have a data point to present to another small company and tell them how much money the first company saved. I would imagine business owners paying for fuel for numerous vehicles would be very interested in the product.

    If it works, it seems like it would sell itself to small businesses and would allow you to expand with the demand.

    Good Luck
     

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