City Taxi’s products and services offer the following advantages to customers:
City Taxi provides taxi services utilizing computer dispatch to help with timely pick up and quality customer care. The software and hardware systems used by City Taxi give customers convenience by allowing them to use credit and debit cards in the taxi.
Taxi Cab Services
The taxi driver is often the first contact that a visitor has with San Francisco and as such, City Taxi realizes the importance of first impressions and customer care. The company’s customer-oriented philosophy and its commitment to service are reflected in the careful selection of drivers and the comprehensive training program. Customers can expect the following high standards when they travel with City Taxi:
Maintenance/Repair Services
This division of City Taxi deals with the pure maintenance of vehicles. Drivers will be charged at discounted rates for tune-ups, wheel alignments, and other repairs.
GLOBAL POSITIONING SYSTEMS . City Taxi has a unique Global Positioning System (GPS) that pinpoints the nearing driver thus allowing the driver to give an accurate estimated time of arrival.
RADIO SYSTEM . Reliable communications are essential under all circumstances. City Taxi will use the KDT 5000 system design because it provides multiple levels of reliability to assure communications will be maintained under the most rigorous condition.
CREDIT/DEBIT CARD SYSTEM . City Taxi will use the in-car credit/debit card system, which is a new market segment for the taxi industry in San Francisco. This involves customers using their debit cards in any City Taxi cab with approval being given instantly, eliminating the need to dial in to head office for approval numbers. By using this system, the company will be addressing the need for convenience and reliability. City Taxi also features a computer-aided dispatch system which will be represented under the Patriot name. The company is currently in the process of making Patriot a trademark. The company has also applied for a license to run a 490 narrow band frequency and voice data transmission. From the perspective of customers, the advantage of City Taxi’s products and services is the high level of technology, which leads to superior customer service. In contrast to competitors, City Taxi’s products and services offer convenience. The key pad and swipe machine are built into the back seat, thus giving the customer privacy. Whereas competitors have to call in a credit/debit card transaction for approval, our customers will be able to get on-the-spot approval before the driver even pulls over.
City Taxi plans to respond to market needs by following up with taxi plus (wheelchair accessible taxi vans with credit card access inside) with the next 5 years. City Taxi believes it can capture this niche and a gain in overall market share. Additional plans for next generation products and services include rent to own options for our drivers. Introduction of the company’s next generation product and services is expected to be within 12 months.
The company’s emphasis is on the dispatch, mobile data, and credit/debit card markets of the taxi industry. In aggregate, these markets are believed to represent potential sales in excess of $119 million as of March 1999. Within these markets, City Taxi will focus on the more lucrative credit/debit card segment. This segment, when introduced into any area has started out slow, but over a three-year period has increased by 20% each year in Maryland and Virginia, and by 25-35% in New York each year.
The company believes that the major future trend in the industry will be complete credit card access for consumers. The International Taxi Livery Association (ITLA) forecasts a very steady growth for the taxi industry in the next four years.
Market Size Statistics :
Estimated number of U.S. establishments | 6,431 |
Number of people employed in this industry | 49,005 |
Total annual sales in this industry | $1.34 million |
Average employees per establishment | 12 |
Average sales per establishment | $.3 million |
Customers and Target Markets
City Taxi’s focus will be on the credit card market with target customers in the low to mid income range in the Metropolitan San Francisco area. The target customers are motivated to use our services over that of competitors because of the convenience and quality associated with our services.
Customer Buying Criteria
We believe our customers choose our cab service based on the following criteria:
Market Analysis | |||||||
1999 | 2000 | 2001 | 2002 | 2003 | |||
Potential Customers | Growth | CAGR | |||||
Credit Card Market | 25% | 200,000 | 250,000 | 312,500 | 390,625 | 488,281 | 25.00% |
Cash Customers | 10% | 100,000 | 110,000 | 121,000 | 133,100 | 146,410 | 10.00% |
Other | 0% | 0 | 0 | 0 | 0 | 0 | 0.00% |
Total | 20.60% | 300,000 | 360,000 | 433,500 | 523,725 | 634,691 | 20.60% |
Market 1-Taxi Cabs
This category covers establishments engaged primarily in furnishing passenger transportation by automobiles not operated on regular schedules or between fixed terminals. Taxi cab fleet owners and organizations are included, regardless of whether drivers are hired, rent their cabs, or are otherwise compensated.
Industry Snapshot
Organization and Structure
Most taxi companies followed a similar organizational pattern. Managers, sometimes the company owners’ ran the business, hired drivers, and performed other administrative duties. Dispatchers took calls and assigned cabs to passenger locations. The position of dispatcher once represented a promotion awarded to experienced cab drivers, whose familiarity with the city best qualified them for the job. However, the increase in computer-based dispatching in the early 1990’s prompted cab companies to favor computer skills over specialized knowledge of local geography when filing the dispatcher position.
Regulation of the U.S. taxi industry varied from city to city. While almost all cities had some form of licensing requirements, larger urban areas had the strictest regulations. San Francisco regulations focused on fares charged to customers, with rates assigned to designated zones of the city.
Current Conditions
In 1998, 6,342 taxi fleets, consisting of 144,000 cars, were operating in the United States. On a national level, in the early 1990’s, taxi’s made approximately 2 billion passenger trips a year. Most taxi fleets were small, family-owned businesses or individual partnerships; only 5% were corporations. Almost all operated within a single municipality, and more than half of all taxi companies had fewer than 10 vehicles. In rural areas, companies tended to be extremely small, with 1 to 3 cars available for customers. In cities of 100,000 people, the average fleet size was 20 cars. In urban centers of 200,000 or more people, cab companies retained hundreds of cars and carried more passengers than the multitude of smaller companies combined.
Research and Technology
Although the taxi cab industry was not regarded as demanding in a high degree of technology, several innovations have changed the way businesses operate. Computerized dispatching–in which cabs were tracked by computer and dispatch instructions appeared only to the cab assigned to a call–allowed more efficient assignment of cabs to passengers. Computerization also helped remedy the problem of “fare stealing,” in which one driver intercepts a message meant for another and picks up the first driver’s fare.
Another development likely to change the industry’s focus involved its use of certain radio frequencies. In the late 1980’s and early 1990’s, with investment in cellular and digital communications skyrocketing, taxi cab companies found themselves in possession of a valuable asset in the form of the broadcast frequencies granted them by the Federal Communications Commission. During this time, the FCC, allowing them only two frequencies in any one area, heavily restricted the cellular telephone industry’s use of the airwaves. By the mid-1990’s, some cab-related services, such as New Jersey’s dispatcher Fleet Call, were in a strong position to become players in the burgeoning telecommunications industry.
Industry Leaders
Due to increasing decentralization in the industry, few national taxi corporations were in operation in the early 1990’s. A few companies, however, many of which were owned by larger holding corporations, had operations that reached beyond the local. Figure 1 shows the industry leaders in the San Francisco area and their share of the market.
Figure 1 Breakdown of Market Share in San Francisco .
Company | Market Share |
Transportation, Inc. | 38% |
Capital Cab | 23% |
Yellow Cab | 13% |
Diamond Cab | 8% |
Others | 18% |
Total | 100% |
Market 2- Taxi top Display
Taxi top display is a market from which City Taxi can gain a substantial amount of revenue. This has been shown to be a viable means of advertising for a number of companies and it is used widely. Figure 2 shows the growth in the taxi top display market segment from 1993.
1994 | 1995 | 1996 | 1997 | 3/1998 |
600 | 1,670 | 2,000 | 3,500 | 5,000 |
Competitive threats come from existing taxi cab companies in the San Francisco area. Their weaknesses are, however, that they do not have the credit/debit card payment option, and some still use the radio dispatch system. Transportation, Inc. has computer-aided dispatch but no credit card processing capabilities. Capital Cab, Yellow Cab, and Diamond Cab all have radio dispatch with selected drivers accepting credit cards. However, these drivers do not offer in-car processing, approval must be given at the home office.
Taxi Cabs . City Taxi’s competitors include existing taxi cab companies that have been operating in the San Francisco area. Specifically, competitors include:
City Taxi’s competitive advantage is our cutting edge technology which is unique to the taxi industry in San Francisco. The GPS will enable City Taxi to provide timely service by giving an accurate ETA. The credit/debit card feature will give our customers convenience and privacy during the transaction period.
Maintenance and Repair Services . City Taxi’s competitors include the above mentioned companies and general maintenance and repair shops in the area. Some of these operations do not have the capacity to handle a large amount of vehicles. While others may have the capacity, their operations are run in a primitive manner, and City Taxi intends to capitalize on that.
City Taxi’s competitive advantages include the availability of space, operations management, and skilled employees.
Sales Strategy
At City Taxi, the sales process is the same for each of City Taxi’s two areas: taxi cab services and maintenance and repair services. The company intends to establish its presence online by developing a website from which sales will be generated. The District of Columbia Cab Commission regulates pricing for taxi cab services.
Sales Forecast | |||
1999 | 2000 | 2001 | |
Sales | |||
All services | $200,000 | $1,500,000 | $2,200,000 |
Other | $0 | $0 | $0 |
Total Sales | $200,000 | $1,500,000 | $2,200,000 |
Direct Cost of Sales | 1999 | 2000 | 2001 |
All services | $65,000 | $125,000 | $100,000 |
Other | $0 | $0 | $0 |
Subtotal Direct Cost of Sales | $65,000 | $125,000 | $100,000 |
Marketing Strategy
City Taxi markets its products and services as solutions to transportation needs in the city of San Francisco. Other target markets include customers in the low to mid income range. Direct mailings and television advertising will be the company’s main marketing channels. These channels ensure that target customers are reached repeatedly and effectively. The company will monitor its market position through constant tracking by Value Pack and TCI Media, Inc.
TCI Media Services – The proposed advertising package, titled “The Championship,” will yield:
City Taxi plans to communicate through direct mail and television advertising to generate sales. TCI MEDIA Services and Val-Pak Direct Marketing will spearhead the marketing campaign. The key message associated with our products and services is cleaner, efficient, flexible, and convenient taxi cabs.
Additional Plans–The company also has additional promotional plans which are diverse and include a range of marketing communications described below:
The company has strategic alliances with King Communications, Surfside Systems, and Commercial Electronic Services. These alliances are valuable to City Taxi because they allow the company to get updates on technology and added tech support, and they are valuable to the ally firms because City Taxi is a growing customer. All agreements come with a stipulation that if new technology becomes available, City Taxi will be notified and provided with the technology to expand on current technology, helping us maintain a competitive edge. Details of the strategic relationships that City Taxi has are given below.
Organization
The company’s management philosophy is based on responsibility and mutual respect. City Taxi has an environment and structure that encourages productivity and respect for customers and fellow employees.
The City Taxi team is organized into two groups:
Officers and Key Employees
City Taxi’s management is highly experienced and qualified. Key members of City Taxi’s management teams, their backgrounds, and responsibilities are as follows.
Personnel Plan | |||
1999 | 2000 | 2001 | |
Taxi Cabs & Administrative | $108,696 | $365,217 | $395,652 |
Maintenance & Repair | $108,695 | $156,522 | $169,565 |
Total People | 8 | 17 | 20 |
Total Payroll | $217,391 | $521,739 | $565,217 |
The company is seeking $2.5 million of financing to fund the acquisition of Mighty Cab Association and its initial operations. This funding will cover the purchase of Mighty Cab, marketing, purchase of extra vehicles, software, and hardware.
The table below shows the key assumptions for City Taxi.
General Assumptions | |||
1999 | 2000 | 2001 | |
Plan Month | 1 | 2 | 3 |
Current Interest Rate | 10.00% | 10.00% | 10.00% |
Long-term Interest Rate | 10.00% | 10.00% | 10.00% |
Tax Rate | 25.42% | 25.00% | 25.42% |
Other | 0 | 0 | 0 |
City Taxi’s Break-even Analysis indicates that the firm has a strong balance of costs and sales. The company estimates a monthly break-even sales volume of approximately $43,000, which will be reached by Fiscal Year (FY) 2000.
Break-even Analysis | |
Monthly Revenue Break-even | $43,333 |
Assumptions: | |
Average Percent Variable Cost | 32% |
Estimated Monthly Fixed Cost | $29,250 |
City Taxi is in the early stage of development, thus initial projections have only been made on accounts that are believed to most drive the income statement.
Pro Forma Profit and Loss | |||
1999 | 2000 | 2001 | |
Sales | $200,000 | $1,500,000 | $2,200,000 |
Direct Cost of Sales | $65,000 | $125,000 | $100,000 |
Other | $5,000 | $10,000 | $15,000 |
Total Cost of Sales | $70,000 | $135,000 | $115,000 |
Gross Margin | $130,000 | $1,365,000 | $2,085,000 |
Gross Margin % | 65.00% | 91.00% | 94.77% |
Expenses | |||
Payroll | $217,391 | $521,739 | $565,217 |
Sales and Marketing and Other Expenses | $64,000 | $164,000 | $214,000 |
Depreciation | $14,997 | $17,500 | $17,500 |
Research & Development | $15,000 | $25,000 | $40,000 |
Utilities | $2,000 | $2,000 | $2,000 |
Insurance | $5,000 | $5,000 | $5,000 |
Payroll Taxes | $32,609 | $78,261 | $84,783 |
Other | $0 | $0 | $0 |
Total Operating Expenses | $350,997 | $813,500 | $928,500 |
Profit Before Interest and Taxes | ($220,997) | $551,500 | $1,156,500 |
EBITDA | ($206,000) | $569,000 | $1,174,000 |
Interest Expense | $3,337 | $2,841 | $2,084 |
Taxes Incurred | $0 | $137,165 | $293,414 |
Net Profit | ($224,334) | $411,494 | $861,002 |
Net Profit/Sales | -112.17% | 27.43% | 39.14% |
The table below outlines the company’s cash flows for FY 1999-2001. The required $2.5 million will be spent to acquire Mighty Cab’s operations ($1.25 million), as well as to purchase additional property ($250,000) and equipment ($200,000). An additional $500,000 will be spent on other short-term assets.
Pro Forma Cash Flow | |||
1999 | 2000 | 2001 | |
Cash Received | |||
Cash from Operations | |||
Cash Sales | $200,000 | $1,500,000 | $2,200,000 |
Subtotal Cash from Operations | $200,000 | $1,500,000 | $2,200,000 |
Additional Cash Received | |||
Sales Tax, VAT, HST/GST Received | $0 | $0 | $0 |
New Current Borrowing | $0 | $0 | $0 |
New Other Liabilities (interest-free) | $0 | $0 | $0 |
New Long-term Liabilities | $0 | $0 | $0 |
Sales of Other Current Assets | $0 | $0 | $0 |
Sales of Long-term Assets | $0 | $0 | $0 |
New Investment Received | $2,500,000 | $0 | $0 |
Subtotal Cash Received | $2,700,000 | $1,500,000 | $2,200,000 |
Expenditures | 1999 | 2000 | 2001 |
Expenditures from Operations | |||
Cash Spending | $217,391 | $521,739 | $565,217 |
Bill Payments | $200,095 | $519,573 | $739,266 |
Subtotal Spent on Operations | $417,486 | $1,041,312 | $1,304,483 |
Additional Cash Spent | |||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 |
Principal Repayment of Current Borrowing | $3,000 | $3,000 | $3,000 |
Other Liabilities Principal Repayment | $0 | $0 | $0 |
Long-term Liabilities Principal Repayment | $0 | $4,181 | $4,951 |
Purchase Other Current Assets | $500,000 | $0 | $0 |
Purchase Long-term Assets | $1,700,000 | $0 | $0 |
Dividends | $0 | $0 | $0 |
Subtotal Cash Spent | $2,620,486 | $1,048,493 | $1,312,434 |
Net Cash Flow | $79,514 | $451,507 | $887,566 |
Cash Balance | $124,514 | $576,021 | $1,463,587 |
The table below provides City Taxi’s actual and projected balance sheets for 1999-2001.
Pro Forma Balance Sheet | |||
1999 | 2000 | 2001 | |
Assets | |||
Current Assets | |||
Cash | $124,514 | $576,021 | $1,463,587 |
Other Current Assets | $513,400 | $513,400 | $513,400 |
Total Current Assets | $637,914 | $1,089,421 | $1,976,987 |
Long-term Assets | |||
Long-term Assets | $1,775,000 | $1,775,000 | $1,775,000 |
Accumulated Depreciation | $24,997 | $42,497 | $59,997 |
Total Long-term Assets | $1,750,003 | $1,732,503 | $1,715,003 |
Total Assets | $2,387,917 | $2,821,924 | $3,691,990 |
Liabilities and Capital | 1999 | 2000 | 2001 |
Current Liabilities | |||
Accounts Payable | $15,451 | $45,145 | $62,160 |
Current Borrowing | $7,000 | $4,000 | $1,000 |
Other Current Liabilities | $25,400 | $25,400 | $25,400 |
Subtotal Current Liabilities | $47,851 | $74,545 | $88,560 |
Long-term Liabilities | $25,000 | $20,819 | $15,868 |
Total Liabilities | $72,851 | $95,364 | $104,428 |
Paid-in Capital | $2,537,000 | $2,537,000 | $2,537,000 |
Retained Earnings | $2,400 | ($221,934) | $189,560 |
Earnings | ($224,334) | $411,494 | $861,002 |
Total Capital | $2,315,066 | $2,726,560 | $3,587,562 |
Total Liabilities and Capital | $2,387,917 | $2,821,924 | $3,691,990 |
Net Worth | $2,315,066 | $2,726,560 | $3,587,562 |
The following table contains important business ratios from the taxi cab industry, as determined by the Standard Industry Classification (SIC) Index #4121, Taxi Cabs.
Ratio Analysis | ||||
1999 | 2000 | 2001 | Industry Profile | |
Sales Growth | 100.00% | 650.00% | 46.67% | 0.50% |
Percent of Total Assets | ||||
Other Current Assets | 21.50% | 18.19% | 13.91% | 45.90% |
Total Current Assets | 26.71% | 38.61% | 53.55% | 63.00% |
Long-term Assets | 73.29% | 61.39% | 46.45% | 37.00% |
Total Assets | 100.00% | 100.00% | 100.00% | 100.00% |
Current Liabilities | 2.00% | 2.64% | 2.40% | 29.10% |
Long-term Liabilities | 1.05% | 0.74% | 0.43% | 27.00% |
Total Liabilities | 3.05% | 3.38% | 2.83% | 56.10% |
Net Worth | 96.95% | 96.62% | 97.17% | 43.90% |
Percent of Sales | ||||
Sales | 100.00% | 100.00% | 100.00% | 100.00% |
Gross Margin | 65.00% | 91.00% | 94.77% | 82.50% |
Selling, General & Administrative Expenses | 177.25% | 63.59% | 55.44% | 58.00% |
Advertising Expenses | 25.00% | 10.00% | 9.09% | 1.00% |
Profit Before Interest and Taxes | -110.50% | 36.77% | 52.57% | 2.60% |
Main Ratios | ||||
Current | 13.33 | 14.61 | 22.32 | 1.58 |
Quick | 13.33 | 14.61 | 22.32 | 1.22 |
Total Debt to Total Assets | 3.05% | 3.38% | 2.83% | 56.10% |
Pre-tax Return on Net Worth | -9.69% | 20.12% | 32.18% | 3.60% |
Pre-tax Return on Assets | -9.39% | 19.44% | 31.27% | 8.10% |
Additional Ratios | 1999 | 2000 | 2001 | |
Net Profit Margin | -112.17% | 27.43% | 39.14% | n.a |
Return on Equity | -9.69% | 15.09% | 24.00% | n.a |
Activity Ratios | ||||
Accounts Payable Turnover | 12.42 | 12.17 | 12.17 | n.a |
Payment Days | 31 | 20 | 26 | n.a |
Total Asset Turnover | 0.08 | 0.53 | 0.60 | n.a |
Debt Ratios | ||||
Debt to Net Worth | 0.03 | 0.03 | 0.03 | n.a |
Current Liab. to Liab. | 0.66 | 0.78 | 0.85 | n.a |
Liquidity Ratios | ||||
Net Working Capital | $590,063 | $1,014,876 | $1,888,427 | n.a |
Interest Coverage | -66.22 | 194.13 | 554.85 | n.a |
Additional Ratios | ||||
Assets to Sales | 11.94 | 1.88 | 1.68 | n.a |
Current Debt/Total Assets | 2% | 3% | 2% | n.a |
Acid Test | 13.33 | 14.61 | 22.32 | n.a |
Sales/Net Worth | 0.09 | 0.55 | 0.61 | n.a |
Dividend Payout | 0.00 | 0.00 | 0.00 | n.a |
Sales Forecast | |||||||||||||
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ||
Sales | |||||||||||||
All services | 0% | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 |
Other | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Sales | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | |
Direct Cost of Sales | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
All services | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | |
Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Direct Cost of Sales | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 |
Personnel Plan | |||||||||||||
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ||
Taxi Cabs & Administrative | 0% | $9,058 | $9,058 | $9,058 | $9,058 | $9,058 | $9,058 | $9,058 | $9,058 | $9,058 | $9,058 | $9,058 | $9,058 |
Maintenance & Repair | 0% | $9,057 | $9,058 | $9,058 | $9,058 | $9,058 | $9,058 | $9,058 | $9,058 | $9,058 | $9,058 | $9,058 | $9,058 |
Total People | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | |
Total Payroll | $18,115 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 |
General Assumptions | |||||||||||||
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ||
Plan Month | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | |
Current Interest Rate | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | |
Long-term Interest Rate | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | |
Tax Rate | 30.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | |
Other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Pro Forma Profit and Loss | |||||||||||||
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ||
Sales | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | |
Direct Cost of Sales | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | |
Other | $417 | $417 | $417 | $417 | $417 | $417 | $417 | $417 | $417 | $417 | $417 | $417 | |
Total Cost of Sales | $5,833 | $5,833 | $5,833 | $5,833 | $5,833 | $5,833 | $5,833 | $5,833 | $5,833 | $5,833 | $5,833 | $5,833 | |
Gross Margin | $10,833 | $10,833 | $10,833 | $10,833 | $10,833 | $10,833 | $10,833 | $10,833 | $10,833 | $10,833 | $10,833 | $10,833 | |
Gross Margin % | 65.00% | 65.00% | 65.00% | 65.00% | 65.00% | 65.00% | 65.00% | 65.00% | 65.00% | 65.00% | 65.00% | 65.00% | |
Expenses | |||||||||||||
Payroll | $18,115 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | |
Sales and Marketing and Other Expenses | $5,333 | $5,333 | $5,333 | $5,333 | $5,333 | $5,333 | $5,333 | $5,333 | $5,333 | $5,333 | $5,333 | $5,333 | |
Depreciation | $625 | $625 | $625 | $1,458 | $1,458 | $1,458 | $1,458 | $1,458 | $1,458 | $1,458 | $1,458 | $1,458 | |
Research & Development | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | |
Utilities | $167 | $167 | $167 | $167 | $167 | $167 | $167 | $167 | $167 | $167 | $167 | $167 | |
Insurance | $417 | $417 | $417 | $417 | $417 | $417 | $417 | $417 | $417 | $417 | $417 | $417 | |
Payroll Taxes | 15% | $2,717 | $2,717 | $2,717 | $2,717 | $2,717 | $2,717 | $2,717 | $2,717 | $2,717 | $2,717 | $2,717 | $2,717 |
Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total Operating Expenses | $28,624 | $28,625 | $28,625 | $29,458 | $29,458 | $29,458 | $29,458 | $29,458 | $29,458 | $29,458 | $29,458 | $29,458 | |
Profit Before Interest and Taxes | ($17,791) | ($17,792) | ($17,792) | ($18,625) | ($18,625) | ($18,625) | ($18,625) | ($18,625) | ($18,625) | ($18,625) | ($18,625) | ($18,625) | |
EBITDA | ($17,166) | ($17,167) | ($17,167) | ($17,167) | ($17,167) | ($17,167) | ($17,167) | ($17,167) | ($17,167) | ($17,167) | ($17,167) | ($17,167) | |
Interest Expense | $290 | $288 | $285 | $283 | $281 | $279 | $277 | $275 | $273 | $271 | $269 | $267 | |
Taxes Incurred | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Net Profit | ($18,080) | ($18,079) | ($18,077) | ($18,908) | ($18,906) | ($18,904) | ($18,902) | ($18,900) | ($18,898) | ($18,896) | ($18,893) | ($18,891) | |
Net Profit/Sales | -108.48% | -108.48% | -108.46% | -113.45% | -113.44% | -113.42% | -113.41% | -113.40% | -113.39% | -113.37% | -113.36% | -113.35% |
Pro Forma Cash Flow | |||||||||||||
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ||
Cash Received | |||||||||||||
Cash from Operations | |||||||||||||
Cash Sales | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | |
Subtotal Cash from Operations | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | |
Additional Cash Received | |||||||||||||
Sales Tax, VAT, HST/GST Received | 0.00% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
New Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Other Liabilities (interest-free) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Investment Received | $0 | $0 | $2,500,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Received | $16,667 | $16,667 | $2,516,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | |
Expenditures | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
Expenditures from Operations | |||||||||||||
Cash Spending | $18,115 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | |
Bill Payments | $24,134 | $16,007 | $16,005 | $16,003 | $16,001 | $15,999 | $15,996 | $15,994 | $15,992 | $15,990 | $15,988 | $15,986 | |
Subtotal Spent on Operations | $42,249 | $34,123 | $34,121 | $34,119 | $34,117 | $34,115 | $34,112 | $34,110 | $34,108 | $34,106 | $34,104 | $34,102 | |
Additional Cash Spent | |||||||||||||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Principal Repayment of Current Borrowing | $250 | $250 | $250 | $250 | $250 | $250 | $250 | $250 | $250 | $250 | $250 | $250 | |
Other Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Long-term Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Purchase Other Current Assets | $0 | $0 | $500,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Purchase Long-term Assets | $0 | $0 | $1,700,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Dividends | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Spent | $42,499 | $34,373 | $2,234,371 | $34,369 | $34,367 | $34,365 | $34,362 | $34,360 | $34,358 | $34,356 | $34,354 | $34,352 | |
Net Cash Flow | ($25,832) | ($17,706) | $282,296 | ($17,702) | ($17,700) | ($17,698) | ($17,696) | ($17,694) | ($17,692) | ($17,690) | ($17,687) | ($17,685) | |
Cash Balance | $19,168 | $1,462 | $283,758 | $266,056 | $248,356 | $230,658 | $212,962 | $195,268 | $177,577 | $159,887 | $142,200 | $124,514 |
Pro Forma Balance Sheet | |||||||||||||
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ||
Assets | Starting Balances | ||||||||||||
Current Assets | |||||||||||||
Cash | $45,000 | $19,168 | $1,462 | $283,758 | $266,056 | $248,356 | $230,658 | $212,962 | $195,268 | $177,577 | $159,887 | $142,200 | $124,514 |
Other Current Assets | $13,400 | $13,400 | $13,400 | $513,400 | $513,400 | $513,400 | $513,400 | $513,400 | $513,400 | $513,400 | $513,400 | $513,400 | $513,400 |
Total Current Assets | $58,400 | $32,568 | $14,862 | $797,158 | $779,456 | $761,756 | $744,058 | $726,362 | $708,668 | $690,977 | $673,287 | $655,600 | $637,914 |
Long-term Assets | |||||||||||||
Long-term Assets | $75,000 | $75,000 | $75,000 | $1,775,000 | $1,775,000 | $1,775,000 | $1,775,000 | $1,775,000 | $1,775,000 | $1,775,000 | $1,775,000 | $1,775,000 | $1,775,000 |
Accumulated Depreciation | $10,000 | $10,625 | $11,250 | $11,875 | $13,333 | $14,791 | $16,249 | $17,707 | $19,165 | $20,623 | $22,081 | $23,539 | $24,997 |
Total Long-term Assets | $65,000 | $64,375 | $63,750 | $1,763,125 | $1,761,667 | $1,760,209 | $1,758,751 | $1,757,293 | $1,755,835 | $1,754,377 | $1,752,919 | $1,751,461 | $1,750,003 |
Total Assets | $123,400 | $96,943 | $78,612 | $2,560,283 | $2,541,123 | $2,521,965 | $2,502,809 | $2,483,655 | $2,464,503 | $2,445,354 | $2,426,206 | $2,407,061 | $2,387,917 |
Liabilities and Capital | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
Current Liabilities | |||||||||||||
Accounts Payable | $23,600 | $15,473 | $15,471 | $15,469 | $15,467 | $15,465 | $15,463 | $15,461 | $15,459 | $15,457 | $15,455 | $15,453 | $15,451 |
Current Borrowing | $10,000 | $9,750 | $9,500 | $9,250 | $9,000 | $8,750 | $8,500 | $8,250 | $8,000 | $7,750 | $7,500 | $7,250 | $7,000 |
Other Current Liabilities | $25,400 | $25,400 | $25,400 | $25,400 | $25,400 | $25,400 | $25,400 | $25,400 | $25,400 | $25,400 | $25,400 | $25,400 | $25,400 |
Subtotal Current Liabilities | $59,000 | $50,623 | $50,371 | $50,119 | $49,867 | $49,615 | $49,363 | $49,111 | $48,859 | $48,607 | $48,355 | $48,103 | $47,851 |
Long-term Liabilities | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 |
Total Liabilities | $84,000 | $75,623 | $75,371 | $75,119 | $74,867 | $74,615 | $74,363 | $74,111 | $73,859 | $73,607 | $73,355 | $73,103 | $72,851 |
Paid-in Capital | $37,000 | $37,000 | $37,000 | $2,537,000 | $2,537,000 | $2,537,000 | $2,537,000 | $2,537,000 | $2,537,000 | $2,537,000 | $2,537,000 | $2,537,000 | $2,537,000 |
Retained Earnings | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 |
Earnings | $0 | ($18,080) | ($36,159) | ($54,237) | ($73,145) | ($92,051) | ($110,954) | ($129,856) | ($148,756) | ($167,654) | ($186,549) | ($205,443) | ($224,334) |
Total Capital | $39,400 | $21,320 | $3,241 | $2,485,163 | $2,466,255 | $2,447,349 | $2,428,446 | $2,409,544 | $2,390,644 | $2,371,746 | $2,352,851 | $2,333,957 | $2,315,066 |
Total Liabilities and Capital | $123,400 | $96,943 | $78,612 | $2,560,283 | $2,541,123 | $2,521,965 | $2,502,809 | $2,483,655 | $2,464,503 | $2,445,354 | $2,426,206 | $2,407,061 | $2,387,917 |
Net Worth | $39,400 | $21,320 | $3,241 | $2,485,163 | $2,466,255 | $2,447,349 | $2,428,446 | $2,409,544 | $2,390,644 | $2,371,746 | $2,352,851 | $2,333,957 | $2,315,066 |
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Types of services offered by uber cabs to its customers, businesses options, requirements, there are three ways to earn, uber driver, requirements documents sign-up process, payments for these types of businesses, suggestions, business with uber cabs opportunities gateways.
People have begun to compare the money out of this company’s business to be a lavish-dinner worthy with that of an Infosys’s employee pay check. Run by lakhs of people in Chandigarh to make some extra green bucks from this loaded side hustle and reserving a space on every phone screen.
Uber cabs is giving you a chance to whisk the cream while it bakes the cake to get some tips going on. So, here’s today’s article on How to do business with Uber cabs.
Uber cabs, an American multinational ride-hailing company allowing people to commute from one place to another at some price has around 75 million active riders across the world out of which India constitutes for 5 million active riders.
Vehicle update/addition
Incase you want add or update a vehicle to your Uber account, the steps are as follows:
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Franchise your business: the guide to employing the greatest growth strategy, become a franchise owner book.
A driver-cum-owner drives a vehicle that he or she owns. Requirements surely vary city by city but the minimal ones are as follows
A non driving partner or a fleet is the one who doesn’t drive on the Uber platform but owns a vehicle and manages atleast one driver. The minimal requirements are
A driver under partner drives a vehicle owned by a non-driving partner. Minimal requirements are:
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Calculation :
Your earning = Fare – ( Uber fee + service tax )
Uber fee refers to the 20% commission that Uber takes.
Bonuses : Uber has rescinded its trip incentive plan and cake up with a new plan for bonus I.e the BG ( Business guarantee ) The BG plans is as follows :
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Surge charge
Still wondering whether or not to take a ride with this business ?
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Uber for Business gives your organization more control, deeper insights, and features built for enterprise users. Manage and track business travel, meal programs, and more on one dashboard.
Reduce costs by up to 10% by improving compliance.
Our customers agreed they reduced costs on ground transportation and meals.¹ Monitor spending and usage and get controls to enforce policies.
Track CO₂ emissions for every ride on a dashboard exclusive to Uber for Business. These insights can help you take action and leverage sustainable travel options like Uber Green.²
In addition to easy expensing and priority support, employees in select cities get access to ride options like Uber Business Comfort that allow your team to enjoy a premium travel experience.
We offer additional crash-alert notifications for business users. Our latest US Safety Report shows that 99.9% of Uber trips are completed without any reported safety incidents.
Business travel
Courtesy rides
Meal programs
Customize your travel and meal programs.
Set your own policies, help ensure T&E compliance, and get full visibility into every ride and meal. You can easily integrate with the top expensing partners for seamless expensing without paying a service fee.
Add individuals, specific teams, or your entire organization at once. After your employees are invited, they can add a business profile for work-related rides and meals to their existing Uber account that they know and trust for business rides and meals.
Send Uber credit in the form of gift cards and vouchers for rides, meals, and more in a snap. You can even request rides for others to make their travel experience practically effortless.
“pay and basic benefits aren’t the endgame. you need to be actively listening to what employees need and want. one of our first added benefits was providing uber credit for rides, so people could safely get a ride for work or for fun. we encourage employees to spend the credits however they want.”.
Ryan Carter , Founder and CEO, Parachute Media
Interested in learning more, how to reduce the carbon footprint of business travel, the perks and benefits your employees want now, the road to sustainability: executives discuss their efforts toward net zero.
Product and feature availability may vary by market and location. To find out more, get started here .
¹Based on over 275 Uber for Business customers surveyed globally in February 2023. Customers agreed that they were able to reduce costs on ground transportation and/or meals through better compliance.
²Uber Green is available only in certain cities. In addition, availability may be limited outside of downtown areas to start.
³Based on a November 2021 survey commissioned by Uber, in which 323 Uber for Business customers responded to the question “How likely are you to recommend Uber for Business to a colleague or someone in your professional network?”
The platform
Get the best of Uber, for business—including improved cost controls and compliance.
Expense integrations
Save time with automatic expense reconciliation
Sustainability
Get clear climate metrics such as total low-emission trips and average CO₂ per mile.
We make your health and safety top priorities.
Employee benefits
All the advantages of Uber your employees already love, for business.
The dashboard
It all starts here - manage travel and meal programs with easy to set cost controls and more.
Business profiles
Help your employees connect with your company’s Uber for Business account.
Delegate booking
Enable executive assistants to arrange work transportation for executives with a delegate profile.
Request rides and deliveries on behalf of customers.
Purchase Uber gift cards in bulk for simplified giving.
Uber Health
Reimagine the way patients access care.
Offer business-class perks with an Uber One company membership.
Cover the cost of rides and meals, and pay only when used.
By use case
Holiday gifting
Celebrate the holidays with vouchers and gift cards
Oversee your travel program with the flexibility and reporting you need.
Employee commute
Set up a stress-free commute program for your employees.
Event transport
Get attendees to and from your next event.
Employee shuttles
Offer group transportation for daily commutes, cross-campus dashes, and more.
Request rides for customers and guests with ease, even if they don't have the Uber app.
One platform gives you the control to provide meals in multiple ways.
Recruit, retain, and reward your employees with Uber perks they want.
Corporate gifting
Exec management
Request rides and meals for leaders.
By industry
Elevate customer service with on-demand rides.
Improve health outcomes and the patient experience by enabling better access to care.
Hospitality
Delight your guests with rides and meals.
Consulting and financial
Keep your employees moving and your clients happy.
Offer rides and meals to employees and constituents.
Customer service
Get in touch with us or quickly find answers to top concerns.
Help Center
For admins and coordinators to browse tips and topics.
Product updates
Check out recent updates we’ve made across our platform.
Learning hub
Explore product education, case studies, and industry insights.
Customer stories
See how innovative companies work with us.
Get the latest news from Uber for Business.
Uber and cruise to deploy autonomous vehicles on the uber platform.
SAN FRANCISCO--(BUSINESS WIRE)-- Uber Technologies, Inc. (NYSE: UBER) and Cruise, two companies revolutionizing transportation, today announced a multiyear strategic partnership to bring Cruise autonomous vehicles to the Uber platform.
Uber and Cruise to deploy autonomous vehicles on the Uber platform (Graphic: Business Wire)
The companies plan to launch the partnership next year with a dedicated number of Chevy Bolt-based autonomous vehicles. Once launched, when an Uber rider requests a qualifying ride on the Uber app, they may be presented with the option to have that trip fulfilled by a Cruise autonomous vehicle.
“Cruise is on a mission to leverage driverless technology to create safer streets and redefine urban life," said Marc Whitten, CEO of Cruise. "We are excited to partner with Uber to bring the benefits of safe, reliable, autonomous driving to even more people, unlocking a new era of urban mobility."
“As the largest mobility and delivery platform, we believe Uber can play an important role in helping to safely and reliably introduce autonomous technology to consumers and cities around the world,” said Dara Khosrowshahi, Uber CEO. “We’re thrilled to partner with Cruise and look forward to launching next year.”
For more information on Uber, visit uber.com/newsroom , and for more information on Cruise, please visit getcruise.com .
Uber’s mission is to create opportunity through movement. We started in 2010 to solve a simple problem: how do you get access to a ride at the touch of a button? More than 52 billion trips later, we’re building products to get people closer to where they want to be. By changing how people, food, and things move through cities, Uber is a platform that opens up the world to new possibilities.
About Cruise
In service of its vision for safer roadways, Cruise’s aspiration is to build the world’s most advanced self-driving vehicles to safely connect people with the places, things, and experiences they care about.
As of June 2024, Cruise has resumed supervised autonomous driving in Phoenix, AZ, Houston and Dallas, TX, in addition to its ongoing testing in Dubai. Majority owned by General Motors since 2016, Cruise combines a culture of innovative technology and safety with a history of manufacturing and automotive excellence. Cruise has received funding from other leading companies and investors—including Honda, Microsoft, T. Rowe Price, and Walmart.
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Cruise [email protected]
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IMAGES
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In this uber cab business plan we will list the sales strategy adopted by Ben to use online and offline media in his favor. Step3: Web Presence is a Must. Since the business activities will depend on your online presence, establishing a strong website is a must as you enter this venture. Step4: Recruit and Serve.
Step 3. Now set up your account as directed i.e. by submitting all of the above document files online. If you do not have them online, click a picture from your mobile or scan it using a cam-scanner app and upload. You can upload all the docs in the same manner.
Lastly, address any funding needs in the "ask" section of your executive summary. 2. The presentation of the company. As you build your Uber cab business plan, the second section deserves attention as it delves into the structure and ownership, location, and management team of your company.
Writing an Uber business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan: 1. Executive Summary. An executive summary is the first section planned to offer an overview of the entire business plan. However, it is written after the entire business plan is ready and ...
At Stellar Business Plans, we understand the challenges faced by startups, and we're here to guide you through the process of creating a winning Uber business plan. In this in-depth blog post, we will explore step-by-step how to craft a comprehensive business plan for your ride-sharing service. From conducting a thorough market analysis to ...
Choose a name and register your Uber cab. Develop your Uber cab's corporate identity. Navigate the legal and regulatory requirements for launching your Uber cab. Create a business plan for your Uber cab. Raise the financing needed to launch your Uber cab. Track your actuals against your forecast. Key takeaways.
Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the Uber industry. Discuss the type of Uber business you are operating and your business model. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan.
Crafting a business plan tailored for a Uber-related business involves a strategic approach. Here's a step-by-step guide to help you get started: 1. Executive Summary: Mission Statement: Clearly ...
Here you go; download our free taxi business plan pdf to start. It's a modern business plan template specifically designed for your taxi business. Use the example business plan as a guide for writing your own. After getting started with upmetrics, you can copy this sample business plan into your business plan and modify the required ...
Keeping in mind the basic features of your on-demand cab service application, the final costs of your app would range anywhere from $60,000 to $120,000 for iOS and Android platforms. Here is the split of the time and cost it takes to develop the basic features of an on-demand taxi application like Uber:
The Uber cab business model has several elements that work together. These elements enable the ride-hailing giant's operational capabilities. The following sections will discuss different elements of the Uber business model, but before that, here is how it works. ... Understanding the business model and structure will help you plan the ...
Understanding the Costs. Starting a taxi cab business involves various expenses that need to be accounted for in your business plan. The costs can vary depending on several factors, such as the location and the scale of your operations. On average, the cost of opening a taxi cab company is around $18,358, with a range of $62 to $35,365 ...
Week 4: Create the MVP (Minimum Viable Product) features. Week 5: Create a promotional/ marketing plan. Week 6: Begin beta testing and fine-tuning the app for final launch. Now, I will briefly take you through every step for you to get a clearer picture of the plan to be followed for a successful launch.
150 Original price was: $150. 99 Current price is: $99. Elevate your ride-sharing venture with our comprehensive Uber Business Plan Template, designed meticulously for aspiring entrepreneurs and businesses. This template provides a robust framework that guides through market analysis, financial planning, marketing strategies, and operational ...
How does Uber business work s and what is Uber's business model - They partner with cab drivers to provide cab services which can be booked by customers using the Uber application. The Uber business model and plan started with one city in the USA and now has grown to be spread in 633 cities all over the world.
In most cities, Uber is designed to be a cashless experience. In cities where cash payments are available, this option must be selected before you request your ride. How do I get a price estimate in the app? Open the app and input your destination in the "Where to?" box. The price estimate for each ride option will appear; scroll to see ...
Headquarters - San Francisco Bay Area, U.S.A. Legal Name - Uber Technologies Inc. (Crunchbase) Total Funding - $24.2B (In 22 funding rounds as of Oct 2018, Crunchbase) Major Investors - SoftBank Vision Fund, Tencent Holdings, Toyota Motor Corporation, and others. Current Valuation - $120B (Source - Bloomberg)
Select business model. When you start a taxi business, you need to choose the taxi business model based on the fleet of vehicles and budget. When you don't want to invest in building a fleet of vehicles like Uber, the aggregator model is the best fit that involves creating a platform that connects taxi operators and passengers.
Sample Uber Driver Business Plan Template PDF. July 11, 2023 by Olaoluwa. Here is how to write a uber driving business plan. Every person seeking to establish a passenger transport business needs to strategize and plan well ahead of time. Such plans help implement sharing economy businesses and bring it to fruition.
4 Step Model About How Uber Works. Step 1 (Request a cab): The first step in the business model is about creating a demand. People have a smartphone app which lets them request a cab instantly or schedule it for some time later. Step 2 (Matching): As soon as the request is made, a notification about your details are sent to the nearest driver.
Transportation, Inc. is a family owned company that has been in business for 20 years. The company, run by Mr. John Brown, is considered an industry leader in the field of taxi cab services. The company also owns a real estate agency, and 2 insurance companies which work hand in hand with the taxi business.
Uber fee refers to the 20% commission that Uber takes. Bonuses: Uber has rescinded its trip incentive plan and cake up with a new plan for bonus I.e the BG ( Business guarantee ) The BG plans is as follows : Get INR 8400BG for 2360. Get INR 6800 BG for 1980. Get INR 6000 BG for 1750. Get INR 5500 BG for 1140.
To find out more, get started here. ¹Based on over 275 Uber for Business customers surveyed globally in February 2023. Customers agreed that they were able to reduce costs on ground transportation and/or meals through better compliance. ²Uber Green is available only in certain cities. In addition, availability may be limited outside of ...
The ride-hailing app Uber has been hit with a €290m (£246m; $324m) fine for transferring the personal data of European drivers to US servers in violation of EU rules, the Dutch data protection ...
Uber Technologies, Inc. (NYSE: UBER) and Cruise, two companies revolutionizing transportation, today announced a multiyear strategic partnership to bring Cruise autonomous vehicles to the Uber platform. Uber and Cruise to deploy autonomous vehicles on the Uber platform (Graphic: Business Wire) The companies plan to launch the partnership next year with a dedicated number of Chevy Bolt-based ...
BUSINESS + FINANCE . Dutch privacy regulators fined Uber a record $324 million Monday for violating the European Union's data protection laws by transferring sensitive personal data to the U.S ...