Careers at Speedway LLC
Speedway LLC (“Speedway”) aims to offer a convenient, efficient, and accessible shopping experience, as well as convenient roadside and vehicle maintenance services to urban consumers and drivers across the US.
Speedway traces its roots back to the establishment of the Speedway 79 gasoline chain in Michigan, US. The chain was acquired in 1959 by Marathon, then operating under the name Ohio Oil Company, which converted the chain’s outlets to the Marathon brand in 1962.
With the legalisation of self-service gasoline, Marathon began using the Speedway names for its network of self-service gas stations.
Marathon expanded the Speedway chain throughout the 1960s and 1970s, both through organic growth and via a series of strategic acquisitions of smaller regional gas station chains.
This included the acquisitions of smaller regional gasoline station chains, including GasAmerica, Starvin' Marvin, Gastown, Wake Up, Bonded, United, Cheker, Port, Ecol, and Value, the outlets of which were converted to the Speedway brand.
In 1997, Marathon formed a joint venture with Ashland Petroleum named Marathon Ashland Petroleum LLC, under which the companies combined their refining, marketing, and transportation businesses.
This included the merger of the companies’ respective convenience store chains to form Speedway SuperAmerica LLC, a wholly owned subsidiary of Marathon Ashland Petroleum LLC.
In 2005, Marathon purchased Ashland's share of Marathon Ashland Petroleum LLC, which was renamed Marathon Petroleum Company LLC.
Today, Speedway operates a network of around 2,740 owned and operated convenience stores across the US, located primarily in the Midwest and East Coast n states such as New York, Ohio, Florida, and Minnesota. The Company continues to operate as a subsidiary of Marathon Petroleum Corporation.
Business model of Speedway LLC
Speedway serves a large customers base comprising members of the general consumer population.
The Company’s customers typically fall into one or more the following categories:
- Motorists, comprising driver who take advantage of Speedway’s fuel sale services, roadside vehicle services, and other vehicle maintenance services across the Company’s roadside locations;
- Urban Consumers, comprising consumers located in larger metropolitan areas and cities who enjoy the convenience and efficiency of shopping at Speedway outlets, notably for products such as cigarettes and snacks;
- Busy Professionals, including workers from a broad range of industries who have only a small amount of time to shop or prepare meals and prefer the convenience of Speedway’s food products, snacks, and beverage options; and
- Families, including families with young children who take advantage of the Company’s branded promotions, and snack and beverage products when traveling or as treats.
Speedway is headquartered in the US, which its core market.
The Company serves customers primarily in the Midwest and along the East Coast, including across Connecticut, Florida, Indiana, Illinois, New York, New Jersey, West Virginia, Wisconsin, and North Carolina.
Speedway provides value to its customers in the following ways:
- Brand Recognition and Reputation – Speedway has an established history that dates back as far as the 1950s, as well as being associated with a large, well known oil company, and is one of the largest and most recognisable names in the US convenience store market;
- Convenience and Accessibility – Speedway operates a network of convenience stores and fuel service stations that are open 24 hours per day and are located in convenient roadside and metropolitan areas, making its outlets easily accessible to a large customer base;
- Products and Service Range – Speedway offers its customers a wide range of products – including snacks, beverages, cigarettes, and household goods – as well as a range of vehicle maintenance and cleaning services;
- Sales and Service Reach – Speedway operates an extensive network of more than 2,700 convenience outlets across markets in the Midwest and East Coast US, including across New York, New Jersey, Wisconsin, West Virginia, and Florida, ensuring that its services are available to a broad customer base; and
- Customer Service – Speedway seeks to provide excellent customer service to its customers, its in-store staff offering friendly, in-person assistance to customers and a pleasant shopping experience;
Speedway serves customers through its network of convenience stores.
The Company currently operates a network of 2,740 convenience stores and fuel service outlets across 21 US states, focused primarily across the Midwest and East Coast.
This includes 489 locations in Ohio, 311 outlets in Indiana, 305 locations in Michigan, 277 outlets in North Carolina, 241 locations in Florida, and 235 locations in New York.
Speedway primarily offers its products and services to customers directly through its physical retail locations.
The Company also offers fuel refiling services to customers on as elf-service basis. Speedway’s convenience stores are staffed by dedicated in-store sales and service personnel, who sell products to customers directly. The Company provides maintenance and cleaning services to customers directly via specialised personnel.
Speedway operates a website at www.speedway.com, through which it provides information on a self-service basis.
This includes information pertaining to its operating locations, its products and services, and its corporate structure.
The Company notably operates a rewards and benefits system, which can be accessed via the Company’s website or via a mobile application, through which consumers are able to access deals, discounts, and rewards. The Company’s app also enables customers to access a faster and more efficient method of purchasing fuel.
Speedway additionally operates a number of social media accounts – including with Facebook, Twitter, and Instagram – through which it interacts directly with consumers, providing updates and handling customer queries and complaints.
Speedway operates a chain of gas service and convenience stores across the Midwest and East Coast of the US.
The company currently operates a network of more than 2,700 across states including Alabama, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Kentucky, Massachusetts, Michigan, North Carolina, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia, Wisconsin, and West Virginia.
Through its outlets, Speedway offers customers offers fuel, food, hot and cold beverages, and merchandise, as well as a range of vehicle cleaning and maintenance services.
The Company also offers gift cards and rewards programs. Speedway was formerly known as Speedway SuperAmerica and is based in Enon, Ohio. It operates as a subsidiary of Marathon Petroleum Corporation.
Speedway partners with a network of companies and organisations across the US that support its core retail operations.
These partners can be organised broadly into the following categories:
- Supplier and Vendor Partners, comprising suppliers of food and beverage products, fuel products, and other merchandise that are sold across the Company’s network of convenience store outlets, as well as third party providers of services that support the Company’s corporate operations more broadly;
- Rewards Scheme Partners, comprising a range of commercial enterprises and brands that offer discounted or exclusive products and services as part of Speedway’s membership and rewards programs;
- Branding and Marketing Partners, comprising various brands, companies, and organisations that collaborate with Speedway and its parent company on co-branding, marketing, and business development projects;
- Strategic Partners, comprising various other commercial enterprises and organisations with which the Company collaborates on strategic business development, marketing, and growth business projects; and
- Community Partners, comprising various non-profits and charitable organisations with which the Company collaborates on social and community projects across the US.
Speedway has a number of partnerships in place. Its rewards partners notably include Valvoline Instant Oil Change, ParkRideFly USA, NRG, Points.com, Quicken Loans, 1-800-Flowers.com, and netSpend.
Speedway’s business model depends on its ability to provide convenient and efficient retail and refuelling services to customers across the US.
As such, the Company’s key resources are its brand name and intellectual properties, its products and inventory, its supply chain and distribution infrastructure, its network of partners, its network of physical retail locations, and its personnel.
The Company’s core assets are its network of convenience outlets across the Midwest and East Coast of the US, which currently number more than 2,700 and without which the Company would not be able to function.
Speedway incurs costs in relation to the procurement of merchandise and supplies – notably the acquisition of fuel, the procurement of third party services, the operation of its convenience outlets – including utility and occupancy costs, the management of its distribution and logistics infrastructure, the development and maintenance of its online store and IT infrastructure, the implementation of marketing and advertising campaigns, the payment of salaries and benefits to its personnel, and the management of its partnerships.
In 2017, Speedway recorded total annual operating, selling, general, and administrative expenses of USD 1.53 billion.
Speedway generates revenue through the operation of a national network of convenience stores and refueling stations.
The Company derives its revenue primarily in the form of sales and service fees that are collected directly from customers across its network of outlets.
In 2017, Speedway generated annual revenue of USD 19.03 billion million, up on the USD 18.29 billion million recorded by the Company in 2016. A significant portion of its revenue is generated via the sale of fuel.
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