This paper studies a fluid model driven by an M/G/1 queue with multiple exponential vacations. By introducing various vacation strategies to the fluid model, we can provide greater flexibility for the design and control of input rate and output rate. The Laplace transform of the steady‐state distribution of the buffer content is expressed through the minimal positive solution to a crucial equation. Then the performance measure–mean buffer content, which is independent of the vacation parameter, is obtained. Finally, with some numerical examples, the parameter effect on the mean buffer content is presented.