Business Plan Submission TemplateParticipant NameEmail IdPhone NumberTeam Member 1Team Member 2Team Member 3- # -1Business IdeaQ. Describe your business idea and tell us what problem will you be solving
Business Idea:Provide a convenient and cost efficient way of transportation to the people in cities by providing them access to taxis via smartphones.
Problem that we are solving: In major cities booking a taxi still remains an expensive and a cumbersome process. With Uber we provide a one touch solution to reserve cabs with smartphones anyplace anytime - # -2Market Size and Competition LandscapeQ. How big is the market and who are the existing players in this market
Market Size:The Indian radio taxi market is pegged anywhere between $6-$9 billion dollars by different estimates, and is forecast to grow at 17-20% annually. More importantly, only about 4-6% of this market is organized sector the rest is by operators who own fleets of 2-50 cars and typically have a presence in one city.
Main players on the Indian Market: Ola Cabs (recently acquired TaxiforSure) Meeru Cabs EasyCab Tabcab - # -Revenue/Business ModelQ. Who are your potential clients and how will you make money
Potential Clients:All citizens who are looking to travel within a city are potential clients
How do they make money: The service is completely free for clients who are booking taxis. Uber charges x% of fees from the drivers who use the app to on-board clients (x depends on the market) - # -Unique Selling PropositionQ. What is new about your product/service ? What are your differentiators ?
Novelty of Product/Service:Uber revolutionalized the taxi market by providing ease and comfort to users while ordering taxi rides. Also on the driver side Uber does not own any car fleets thus making drivers responsible for their own business ensuring scalability, reducing Ubers costs and maintaining high service levels
Differentiators: Ease of use with user friendly high performing smartphone app No car fleet thus differentiating itself from traditional taxi providers - # -