Is Fuel the Latest On-Demand Commodity? Florida-Based EzFill Aims for National Expansion

Photo by Rock Staar on Unsplash

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

Consumer expectations have made on-demand services a common standard for direct-to-consumer businesses.

In the transportation industry, Uber Technologies Inc. UBER and Lyft Inc. LYFT have replaced taxis as riding services, and Grubhub parent company Just Eat Takeway.com N.V. GRUB and DoorDash Inc. DASH have maintained a hold on the food delivery market.

The trend extends onto nearly every aspect of life. Shoppers can now use Instacart or Target Corp.’s TGT Shipt to deliver groceries to their doors. Meanwhile, Amazon.com Inc. AMZN and Shopify Inc. SHOP provides a near-endless list of products that make physical shopping nearly obsolete. For millennials, Airbnb Inc. ABNB is the likely path to renting a room.

Despite the already overwhelming presence of on-demand services, this new economic model is projected to grow to $335 billion in 2025. Curious consumers, innovative entrepreneurs and speculative investors may all be wondering: What’s the next service to become part of the on-demand economy?

This is a question EzFill Holdings Inc. EZFL was attempting to answer as far back as 2015. Since then, the Florida-based, on-demand fuel delivery company has been on a mission to evolve the $500 billion retail gas industry.

EzFill: A Gateway Into the Next On-Demand Commodity?

Through EzFill's on-demand and scheduled refills, owners of consumer, fleet and specialty vehicles can now simplify the fueling process. Just download the EzFill App, create an account, pin the location of the vehicles requiring fueling, leave the gas door ajar and let EzFill’s expert technician fuel the vehicles.

“EzFill is a mobile fuel delivery service that keeps your ride and business fleets rolling — without you having to step foot in a gas station,” the EzFill website says. “Instead, we bring the gas to you.”

It’s a simple process, but the simple process has reaped reportedly strong rewards. According to its income statement, EzFill recognized a total revenue increase of more than 110% between Sept. 30, 2020, and Sept. 30, 2021. Additionally, the company boasts more than $10 million worth of sales and has delivered over 3.6 million gallons of fuel to date.

People who use EzFill’s services generally love them. The company claims to have an 80% customer retention rate, and users have rated its application 4.8 stars on the app store. But as competition arises from Exxon Mobil Corp. XOM-backed Yoshi Inc. and others, EzFill has upped its game. For example, EzFill claims that, compared to competitors, it caters to a much larger group of vehicles and offers a far more diverse product selection model.

EzFill caters to specialty vehicles like marina vehicles, heavy machinery, construction machines and generators. Aside from standard gas and diesel, EzFill also offers customers Red Diesel and REC-90, which offer special benefits or tax savings to specialty markets.

EzFill hopes to leave no stone unturned in its total addressable market (TAM). The United States registered more than 276 million consumer vehicles in 2019, and 95% of motor vehicles sold in 2020 remained gas-powered — despite electric vehicle growth. EzFill has achieved $10 million in sales operating in Florida alone. 

The company says its next step is carving out more of its TAM by expanding to New York City, Long Island, N.Y., Tampa, Florida, and several other urban cities in the next couple of years. Recently the company expanded its fleet in Miami through partnerships with 1-800-GOT-JUNK? and Servpro. 

“The agreements with 1-800-GOT-JUNK? and Servpro set the stage for EzFill to service additional fleets around the country under the same franchises and further pave the way for our planned national expansion,” CEO Mike McConnell said in a recent press release.

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.