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BUSINESS PLAN

Submitted By:-
1. Yashraj Dokania (279)
2. Harshit Arora (228)
3. Gourav Kedia (227)
4. Aditya Mishra (204)
INDUSTRY PROFILE
 A motorcycle taxi is a licensed form of transport in some countries. The concept
of two wheeler taxies was initially lunched in Bangkok, Thailand as ‘Uber
Moto’ when the US ‘ride-hailing’ Platform decided to venture from four to two
wheelers.
 As traffic continues to worsen in India, the motorcycle taxis are steadily
increasing in popularity. Their ability to beat the heavy traffic in the city has
made them one of the most effective modes of transport, and yet many are still
unlicensed. Hoping to add levels of reliability, safety and security through the
professionalization of the service, it recently came across as a new start-up. A
motorcycle taxi is a licensed form of transport in some countries. Typically, they
will carry one passenger, who rides as the pillion, behind the motorcycle
operator. Motorcycle taxis are the primary form of public transport.
MAIN CONCERN WITH MOTORCYCLE TAXI
 There are two main concerns with this industry. Not every
vehicle can be used for Two-wheeler taxi service and not every
driver can drive these Two-wheeler taxis. Only vehicles
registered as commercial vehicles can be used and only drivers
having commercial license will be allowed to ride these two
wheelers.
 Even though the taxi service industry is well established in the
city, there is still a lot of scope for expansion in two-wheeler
taxi industry as there is no well-established big player in market
right now so we do not have to deal with monopoly in the
market. These have been established well in Gurugram,
Hyderabad, Goa but it is just starting up in Patna. Hence, there
is a lot of scope of development in this industry.
EXECUTIVE SUMMARY

 Name of Company: Fast Ride


 Logo:

 Service: Two Wheeler Taxi Service


EXECUTIVE SUMMARY CONTD.
 Fast Ride, the bike taxi service is coming with an innovative service idea
in Patna.
 We have filed a petition with the transportation Minister of Bihar, Mr.
Nitish Kumar regarding approval of our project and our petition was
approved by the government and RTO department issued approved
license (Positive expectation).
 Fast Ride is the next-gen product which aims to disrupt the way people
travel within city brought to you, looking forward to make life easier for
people. With the urban population growing at a rapid pace, there is a dire
need to solve for the ever-growing city traffic. Thus, a faster, economical
and safe way which also reduces traffic and carbon footprint is the need
of the hour. Stuck in huge, peak-hour jams, have you ever envied two-
wheelers easily winding their way through the densest of traffic? That’s
exactly where we aim to help you.
 Unique Selling Proposition:
EXECUTIVE 1. The fair is calculated on kilometre basis
SUMMARY CONTD. (Distance based). As a safety measure for
both the driver and passenger, bike taxis are
About Our Service: fitted with global positioning system(GPS)
The service we are providing which enable the taxis to be tracked or be
is “Bike Taxi”. Bike taxi is located in an emergency.
one of the primary forms of 2. Essentially, Fast Ride works like every other
public transport, it is similar to app-based cab service wherein the customer
normal taxis(Four Wheeler), and the driver are connected via the app with
But our service is more
the pickup location of the customer sent to
significant and modernized.
Bike taxi will provide the motorcycle rider. The taxi service
complete taxi services using allowed ferrying passengers from one place
latest equipment and to another.
technology to facilitate the 3. At the same time, we have on spot pick up
travel of customers in the city. services just like autos.
The taxi typically carries one
passenger, who rides as the 4. We also aim to start two wheeler taxis only
pillion behind the bike taxi for ladies that will be driven by other lady
operator. drivers only for their comfort and safety.
PURPOSE OF SELECTION OF BUSINESS
 As traffic continues to worsen in Patna, this service might gradually
decrease the traffic related problems.
 Increasing rate of unemployment, this service would help in
providing employment opportunity and help the society.
 The pollution level in city is also increasing day by day which is a
major concern. There will also be a reduction in pollution levels as
people who were forced to take cabs and autos while travelling
alone will now be able to travel on two wheelers which will help in
bringing down pollution level which is really important for
sustainable development.
 Fast Ride aims at providing its users with highly reliable, faster, safe
and a comfortable travelling experience with full fledged security
and at the same time, cuts down on your travelling expenses as it is
cheaper than cabs or autos.
REASON TO CHOOSE FAST RIDE

 Easy and Convenient: Just at the tap of a button


• Real-time: Book real-time and find a rider within
minutes
• Economical: The cheapest way to commute intra-
city
• Fast: Save time in traffic jams
• Safe: See the slew of safety features here.
MARKET SURVEY
ECONOMIC FEASIBILITY TECHNICAL FEASIBILITY

 Patna is the largest city of Bihar and  The specifications and requirements
the 2nd largest city in eastern India
after Kolkata with high density necessary for the vehicles and for our
population. Many people migrates company to run have been mentioned
from other towns and villages of in the report. This venture we’re
Bihar for work or education. Thus our
undertaking is technologically
business help them to travel within
the city with minimum cost and feasible with the availability of
therefore making it economical for resources and labour and with ease of
them and at the same time high operations at the same time. With this,
demand will be profitable foe the
company due to lake of strong we aim at achieving economies of
competition in the market as there are scale.
no strong established two wheeler
taxi service running in the city right
now.
MARKET SURVEY

Managerial Feasibility:
 The logistics required in such type of a business amount to
quite a lot. It only makes sense to have a strong managerial
channel for smooth flow of transactions. Management is not
only required for the staff, but also for the entire process of
customer satisfaction. With the technological advancements
to be able to track every transaction and customer
satisfaction, it becomes easy for us to manage what’s going
on. Proper check on drivers, two wheelers, maintenance of
the app and the website add up to the efficient management
system. Along with this, we have a bunch that adds up to
provide the background service through call centre
activities.
MARKET SURVEY
Operational Feasibility:
The operation plan of the entire business works on two levels.
 Invisible Channel- The invisible channel is an accumulation of all the
activities that take place behind the customer’s line of sight. They involve
operations like Customer Service Order, Dispatching of Driver, and Tracking of
Driver. These activities work in the background and therefore, provide a base
for operations under the second channel- visible channel. The invisible channel
starts after the customer calls for a cab and uses the app.
 Visible Channel- The visible channel falls within the line of sight of the
customers. Under this, there is constant communication between the company
and the customer. This channel include- Customer Calls/ Online Bookings
through the app, Receive message about waiting time, Driver picks up
customer, Customer gets in, Ride to destination, Customer gets out, After sale
services (Customer feedbacks). With the flexibility of operations within the
organisation and with the external environment, the operational functioning of
the company is taken care of.
Door-to-door delivery • Services will be opted only in times of
Time-saving service. emergency.

Weakness:
Strength:

Emergency needs are fulfilled. • Limited luggage carrying capacity.


Alternative or supplement public transport • A group of members cannot travel together
Safety assured- both the rider and for the pillion comfortably.
Low capital requirements • Climatic conditions can act as a barrier to a
Motorbike taxi service can easily navigate bad comfortable quick ride.
roads, unused roads and orbital (inner).
Opportunity:

• Cab(Four-wheeler) services-Ola and


•Novelty in the market

Threat:
Uber, etc.
•High demand for alternative • Environmental (air and noise) pollution
transportation service will lead to the likely to increase
gradual growth of these services.
PRESENT SCENARIO OF THE FUTURE SCENARIO OF THE
SECTOR SECTOR

 The present scenario of the sector –is  Getting around the city is something everyone
fresh and vital. has to do and is a part of everyday life for the
majority of people. The consequence of that is
 As a result, traffic in Patna moves very everyone needs a way of transportation. Most
slowly. Bike taxi offers an easy and of them find their own ways of transportation
highly convenient commutation from one with cars, bikes, bicycles, bus or cabs. But
place to another. This will be popular most people tend to see bikes as most
among students and corporate officials. A practical and comfortable choice of them
service like this helps many people because it is available at any time you need it
especially when you have to account for and it gives you the independence of being in
today’s present scenario in the control of your time, given that it is the fastest
way to reach places while you can make your
transportation sector. There are many
own agenda for the day.
cabs which provide commutation facility
 This service provides offer a better solution to
but it also increases lot of traffic, but our
one of the biggest problems facing mankind:
service provide better service than traffic jam, late to office/colleges and so on.
compared to other cabs and it will also This service gives people the perfect
add to decreasing traffic in a city(Patna). commutation facility. The future scenario
By one single call customers can get a pertaining to this sector is very bright as it
bike taxi anywhere to everywhere in render service directly to people’s needs.
Patna.
COMPETITORS

 Presently, we have ‘Rapido’ as a competitor in


two-wheeler taxi service, but Fast Ride is still
among the first few in Patna to launch this
service. However, means of public transport like
auto rickshaws and cab services like Ola cabs ,
Uber, Meru cabs do pose a threat to our service
CHALLENGES
 Obtaining a license from the State Transport Authority to start a two-wheeler bike taxi
service will be one of the biggest challenges
 Financing the purchase of bikes (both gear and non-gear)
 Employing full time rider at low yet decent salary considering we are a start up.
 Process of obtaining or verifying licenses for drivers will be a long and tedious task
 Insurance of the vehicles, paper work and legal compliance will be a time consuming
process
 Marketing of Fast Ride using conventional and unconventional strategies in the presence
of heavy competition from Four-wheeler Cab services.
 Developing and Launching a user friendly app for Fast Ride
 Ensuring safety of customers availing our service considering negligent attitude of
commuters, congested roads.
WORST CASE SCENARIO
1. If the vehicle breaks down.
• Contingency: In case of vehicle breakdown, the company will be
informed immediately about the break down and a company owned tow
truck will be sent to the spot along with the new bike on the tow truck.
The broken vehicle will be then towed to the company office.
2. In case of an accident.
• Contingency: In case of an accident, the company will bear all the
medical expenses of the victim depending on the level of accident. All the
vehicles and drivers of the vehicles will be insured.
3. Unpredictable weather condition.
• Contingency: Two wheeler cabs are not suitable at the times of heavy
rains. However customer as well as the driver will be provided with full
rain coats to enable riding in the rain.
MARKET PLAN

 Target Market:
The target market is the general public of Patna. The services are
available to all residents of Patna who are travelling to or
travelling from the area our services are available in. We would
specifically the middle income groups who would opt for the
services both in times of emergency as well as need. The youth i.e.
college students in the age group 18-23 are being the focus
segment.
7 P’S OF SERVICE MARKETING
 Product: Fast Ride is a service. Services are custom designed
products. This service/product aims at reducing traffic and
address transportation issues in Patna. The two-wheeler bike
service can be used by an individual at a time. It is mainly for a
short distance travel and emergency needs and when the
customer has a lack of time.
 Price: Price is the value attached to the service or product by
the service provider. The price of a service must not be fixed
too high or too low, It must be such that the customer is willing
to pay for it to satisfy his/her needs. The price of Fast Ride bike
taxi services is set reasonably considering the target market.
The customer will be charged Rs. 20 as the minimum fare for
the first two km and then Rs.7 per km.
7 P’S OF SERVICE MARKETING CONTD.
 Promotion: Promotions is an important part of the marketing mix. Promotions can be
done through various forms including advertising, personal selling, word of mouth, etc.
The promotion strategies for our service include the following:-
 Advertisement through Print Media
 Word of Mouth
 Direct Mail
 Sale Promotion
 Offers
 Contest
 Lucky Draw
 Discounts

 Place: Place refers to the point of interaction between the service provider and the
customer. One of the most critical decisions for a service provider is to select the channel
of distribution. With regard to Fast Ride, There will be ticket counters with computerized
24 hour reservation systems. Place also refers to the point of pick-up and the point of
drop in case of taxi services. It will be ensured that the services are provided at the right
place and the right time.
7 P’S OF SERVICE MARKETING CONTD.
 People: The services industry is a people-oriented industry. For taxi services, There are
both frontline staff as well as back office staff. The various types of personnel include:
 Two Wheeler Taxi Driver
 Bike Station and Security Staff
 Reservation Desk Staff

Since people provide most services, the selection, training and motivation of employees
can make a huge difference in attaining customer satisfaction. The personnel will be
recruited by Fast Ride will be qualified in the respective fields, Comply with the legal
requirements, be trained and motivated.

 Physical Evidence: Physical evidence are those tangible clues that the customer may
receive during the service delivery process to enable them to evaluate the service. The
physical clues attached to two-wheeler taxi services would be the booking counter at the
parking station, bill given to the customer after the payment is received, use of mobiles
recording the distance and total price for the travel, appearance of the riders and vehicles
in proper working condition.
MICHAEL PORTER’S FIVE FORCE ANALYSIS

Force Threat To Present Future

Internal Rivalry Moderate Will Rise

Threat to Entry Moderate Moderate

Substitutes High High

Buyer Power Moderate Moderate

Supplier Power Moderate Moderate


PRODUCT LINE
 Fast Ride offers its customers with a variety of
different bikes to choose from for their riders. The
basic product line Includes:
 Non Gear Vehicles-
 Honda Activa
 Honda Dio
 Yamaha Fascino
 Gear Vehicles-
 Hero Splendor 100cc
 Bajaj Pulsar 150cc
 Hero passion pro 100cc
SEGMENTATION
 Market Segmentation is undertaken in order to focus on the subsets of the prospects that are most
likely to use or avail our services. Thus, the market is segmented into diverse sections which
include:-
 Geographical segmentation- The parking station of Fast Ride is located on Rajendar Nagar Main Road,
Patna.

 Demographic Segmentation-Targeting people of middle income level since they would not opt for a very
cheap public transport or extremely high priced modes of transport. General public work who wish to
reach their destinations faster are being targeted.

 Psychographic Segmentation
 To people who use smart phones.

 To people who have a moderate earning.

 To people need to travel.


TARGETING AND POSITIONING

 Targeting:
 Middle class people will be targeted more as they
always look towards cheapest deals
 Such as students, interns or individuals going for job.

 Positioning:
 Fast Ride two wheeler taxi services will position itself
as a professional, reliable, personal time saver at
affordable prices.
PEST ANALYSIS

Political Analysis Economic Analysis

1. Favourable future 1. Petrol Price


legislation 2. Consumer Confidence
2. Start-up India initiative 3. Rising Disposable Income

Social Analysis Technological Analysis


1. Growing Population
1. Technologically Advanced
2. Changing Trend
2. Increasing number of smart
3. People Seek Convenience
phone users
4. Reduction in
3. Rapid Development in
Environmental Issue
smart phone technology
Board of Directors

Overseeing
Committee

Finance Administration Marketing Operations Legal

Analysising and Advertising and


Human Resource Public Relation Bike Center Lawyers
Budgeting Promotion

Accounting Recuritment and Liaisons Customer Relations Parts mechanics Advisiors


Training

Application
Audit Employee Associates Call Centers
Developer
Redressal
MANAGEMENT STRUCTURE
Human Resource Policies
Code of
Conduct

Termination Employee
of Contract Rights

Pay Equal
Opportuni
Benefits ty

Health
and
Safety
HUMAN RESOURCE STRATEGIES

 Recruitment:
The company’s performance depends on the
efficiency of its employees. So, great care should be
taken while recruiting. We will follow these
recruiting services:
1. Tie-Up with Driver Labour Unions
2. Advertisements in Newspapers
3. Referral Recruitment Strategies
4. Labour Contractor
5. Online Portals like naukari.com, etc.
HUMAN RESOURCE STRATEGIES CONTD.
 Training And Development Program- Drivers
The training and development program is a must and serves as a bed rock for all the new
employees. This program will help the employees become familiar with the work
environment and culture and will also give them a better understanding about their roles
and responsibilities. Each training and development program varies in duration based on
the situations and the type of employees attending the program. It usually lasts for 5-7
days. First the type of training must be decided, whether it is organizational training or
associate training. An organizational training program will be undergone by all the
employees along with the associate training program. They will be trained on the various
safety aspects, emergency situations, customer handling, inter personal skills, etc.

This effective training programme will ensure success both for the employees and the
organisation. By equipping the employees with the tools and knowledge to perform their
jobs, they would be expected to start working as a cohesive unit. The long term benefits
for this programme would be higher productivity and better company culture.
REMUNERATION AND INCENTIVES

Incentive Package

Promotion

Rating Based
Incentives

Peak and Night


Hours

Daily Wages
Contract

75% of
Fare
SAFETY MEASURES

Rider’s Safety Measures

Anonymous Feedback, Full


Accountability

Driver’s Profile

Physical Panic Button and


GPS

Safe Pick Ups

Background Check of Driver


SAFETY MEASURES CONTD.

 Driver’s Safety
Cashless
Transaction

Insurance for Driver Rating


Drivers Riders

Spot Pickup
Safety
QUALIFICATIONS REQUIRED
The various qualifications of the different post are as follows:

 Accountant: B.com graduate with work experience of 1 year.


 Petty Cashier: The student pursuing B.com will be interned.
 Bike Rider: Basic qualifications is PUC. Must own a valid driving license with no
record of any major accidents in the past one year.
 Receptionists: Basic qualifications in concerned field(Operations) with work experience
of 1 year.
 Call Operators: Basic qualifications in concerned field, communication skills in
English and local languages with work experience of 1 year.
 Mechanic: Basic qualification is SSLC and minimum experience of 2 years in the field.
 Maintenance Staff: Basic qualification must be SSLC. No minimum experience is
required.
 Security Guard: Basic qualification is SSLC. No minimum experience is required.
PRODUCTION AND OPERATION
 Floor Plan:

Fast ride office located in Gandhibagh, Patna. It is the parking station for the
bikes as well.

Store House- Repair tools and spare parts of the bikes will be stored.
Manager’s Desk- All operations will be managed by the managers.
Reception and Booking counter- Computers will be installed here to monitor
bookings and reservations online or through the app. Bookings through the
telephone will also operate from reception.
Accountant’s Workplace- A petty cashier under an accountant will keep a record of
daily business transactions.
Parking Area – The parking area is where all the bikes will be parked.
Clean/washing area- Bikes will be washed and cleaned on a regular basis in the back
side of the station.
PRODUCTION AND OPERATION CONTD.

Layout- Fast Ride Office


FINANCIAL STATEMENT

Source Of Fund

Particulars Amount
Personal Capital:
Yashraj Dokania
Each partner @ Rs. 10,00,000/-
Harshit Arora
Gourav Kedia
Aditya Mishra
Term Loan from ICICI Bank @ 15% P.A. ₹ 24,00,000/-
Loan Under MUDRA Kishore Scheme @14% P.A. ₹ 5,00,000/-
Total Amount- ₹ 69,00,000/-
FINANCIAL STATEMENT CONTD.
Fixed Assets Requirement:
FINANCIAL STATEMENT CONTD.

Drivers Cost Per km/ Year


FINANCIAL STATEMENT CONTD.

Petrol Cost Per Km(Non Gear):


FINANCIAL STATEMENT CONTD.

Petrol Cost Per Km(Gear):


REVENUE COLLECTION

 Year 1:
 Total No. of vehicles= 40
 Each day each bike travels= 50Km

 Assuming That 8 Customers Travels per day/ Per bike,


each customer will travel= 6.25 Km (50/8 Customers)
 Minimum fare (2 Km)= Rs. 10

 Thus, {Rs. 10+ (4.25*₹6.50 per Km)}= Rs. 37.62

 Revenue Per day per Bike= ₹ 300.96

 Total Revenue= ₹ 43,94,600


REVENUE COLLECTION

Year 2:
 Total no. of vehicles= 40
 Each day each bike travels= 80 Km
 Assuming 10 customers travel per day/per bike, each
customer will travel= 8 km (80/10 customers)
 Minimum fare (2 km)= Rs. 10
 Thus, { Rs.10 + (6 km* Rs 6.5 per km)} = Rs 49
 Revenue per day per bike= Rs 490
 Total revenue= Rs. 71,54,000
REVENUE COLLECTION

Year 3:
 Total no. of vehicles= 40
 Each day each bike travels= 110
 Assuming that 13 customers travel per day/per bike,
each customer will travel= 8.46 km (110/13)
 Minimum fare= 20 Rs
 Thus, { Rs.20 + (6.46* Rs 7 per km)} = Rs. 65.22
 Revenue per day per bike= Rs 847.86
 Total revenue= Rs. 1,23,78,756
FINANCIAL STATEMENT

Depreciation:
FINANCIAL STATEMENT
Total Manpower Cost CONTD.
Personal No. Year 1 Year 2 Year 3
Monthly for Total Monthly for Total Monthly for Total
one employee one employee one employee
Full time 24 7,500 21,60,000 8,100 23,32,800 9,315 26,82,720
Drivers
Part time 16 5,500 10,56,000 5,940 11,40,480 6,831 13,11,552
Drivers
Accountant 1 7,000 84,000 7,560 90,720 8,694 1,04,328

Security 1 7,000 84,000 7,560 90,720 8,694 1,04,328

Petty cashier 1 5,000 60,000 5,400 64,800 6,210 74,520

Managerial 2 10,000 2,40,000 20,000 4,80,000 50,000 12,00,000


Remuneration
Call 4 6,000 2,88,000 6,480 3,11,040 7,452 3,57,696
Operators
Part time 1 3,000 36,000 3,240 38,880 3,726 44,712
mechanic
Staff 1 3,500 42,000 3,780 45,360 4,347 52,164

Receptionist 1 6,000 72,000 7,000 84,000 8,050 83,976

TOTAL 60,500 41,22,000 75,060 46,78,800 1,13,319 60,15,996


STATEMENT OF PROFIT AND LOSS ACCOUNT
Particulars 31-03-2019 31-03-2020 (₹) 31-03-2021 (₹)
(₹)
Revenue
Revenue from the services provided 43,94,600 71,54,000 1,23,78,756
TOTAL REVENUE 43,94,600 71,54,000 1,23,78,756

Expenses
Rent 5,40,000 5,67,000 6,23,700
Electricity & Water 6,000 7,000 7,000
Telephone charges 19,200 20,160 21,168
Salaries 41,22,000 46,78,800 60,15,996
Maintenance Cost 50,000 60,000 75,000
Legal expenses/Licenses 25,000 10,000 10,000
Depreciation 7,70,400 6,12,840 4,99,577
Staff Uniform 40,000 20,000 20,000
Advertisement 2,50,000 1,50,000 1,00,000
Fuel Cost 10, 11,252 18,08,490 26,37,740
Particulars 31-03-2019 (₹) 31-03-2020 (₹) 31-03-2021 (₹)
Interest:
Bank Loan: 3,60,000 2,88,000 2,16,000
Loan Under Mudra
Scheme: 70,000 56,000 42,000
----------- ------------ --------------
Total 4,30,000 3,44,000 2,58,000
Vehicle Insurance 32,000 30,000 28,000
Insurance for drivers and 30,000 40,000 40,000
Pillion
TOTAL EXPENSES 73,25,852 83,48,290 1,03,36,181

Profit/loss for the year (29,31,252) (11,94,290) 20,42,575


BALANCE SHEET
Particulars 31-12 -2019 (Rs.) 31-12 -2020 (Rs.) 31-12 -2021 (Rs.)

I.
Equity and Liability
(1) Shareholders’ Funds
a) Share Capital 50,00,000 50,00,000 50,00,000

b) Reserves and Surplus


P&L A/C (10,09,412) 2,92,498 41,85,477

39,90,588 52,92,498 91,85,477


2) Non-Current Liabilities
a)Long Term Liabilities- Bank Loan 19,20,000 14,40,000 9,60,000

b)Long Term loan under Mudra 5,00,000 4,00,000 3,00,000


Kishore Scheme
3)
Current Liabilities
a)Other Current Liabilities 3,90,600 4,39,413 5,55,655

68,01,188 75,71,911 1,10,01,132


BALANCE SHEET CONTD.
Particulars 31-12 -2019 (Rs.) 31-12 -2020 (Rs.) 31-12 -2021 (Rs.)

II. ASSETS:

1) Non- Current Assets


a)Fixed Assets
i)Tangible Assets 33,03,100 28,30,885 24,36,777
ii)In-Tangible Assets 5,62,500 4,21,875 3,16,406

2) Current Assets
a)Cash and Cash
4,24,988 13,19,151 19,28,544
Equivalents
b) Debtors 4,30,000 4,70,000 5,70,000
c) Cash at Bank 18,00,000 20,80,000 52,47,949
d) Cash in Hand 2,80,600 4,50,000 5,01,456

Total 68,01,188 75,71,911 1,10,01,132


PAY BACK PERIOD
 The payback period is the length of time required to recover the cost of an
investment. The payback period of a given investment or project is an
important determinant of whether to undertake the position or project, as
longer payback periods are typically not desirable for investment positions.
 Payback period = Initial Investments / Periodic cash flows Initial
Investment= 1,29,00,000
 Cash inflows for the first year= Net income after tax but before
depreciation

Pay Back Period = Initial Investment/Net Cash Inflows


= 79,00,000/ 28,45,567 = 2.8 years
BREAK EVEN ANALYSIS
 Breakeven analysis is used to determine when your business will be able to
cover all its expenses and begin to make a profit. It is important to identify
your start-up costs, which will help you determine your sales revenue
needed to pay ongoing business expenses.
 Formula: The break-even point formula is calculated by dividing the total
fixed costs of production by the price per unit less the variable costs to
produce the product.
EXECUTIVE PLAN
Phase 1. (Market Survey and Analysis)
Duration: 3 months
During this phase we have meticulously scrutinized our competitors’ strategy and working, Uber being a
global brand and Ola running on a national scale function differently. We have conducted surveys, used
business environmental analysis tools, met executives and drivers from both these companies.
During this phase we would execute the following:
• Market survey
• Identifying leasable land for call centres and parking of cars
• Setting up of charging points in prime malls in the city
• Extensive pre marketing, to create awareness amongst target market
• Recruitment of managerial and technical staff
• HR teams who interact with drivers providing them with adequate information of how it’s beneficial
to work with us.
 Buying two wheelers required for the business.
 Developing a user friendly App for Fast Ride
EXECUTIVE PLAN CONTD.
Phase 2 (Diversification and expansion)
Duration: 6 months
 This Phase would be dedicated towards expansion of the
widening the functional area of our service. We would
initially start in few selected areas of Patna like Gandhibagh
Road, Kolapur, etc and spread to the nearby areas. During
this phase we would:
 Expand two wheeler taxi service into nearby localities.
 Try to tie up with colleges and corporate.
 Increase advertisement.
 We would also incorporate the changes required after
analyzing the phase two feedbacks.
EXECUTIVE PLAN CONTD.
Phase 3 (Enhancing, Refining and Consolidating Our Service)
Duration: 8 months
After establishing ourselves and improvising our service we would spend these 8
months refining our service and move onto Hyderabad and Mumbai. We would
gradually increase the number of cars and continue to enhance our ancillary features
providing an exquisite experience.
A few other aspects we plan to incorporate In this phase:
 Expand into 2 other metropolitan cities.

 Enhance the ancillary features

 Improve hospitality and simplifying booking procedures.

 We attempt to raise capital through seed funding or venture capitalists.

After this phase in the next three months we plan to tap the other tier 1 cities being Kolkata,
Mumbai and Chennai.
CONCLUSION
 Fast Ride is a start-up as well as a novelty business idea. It is simple working
and effective implementation with the help of integrated technology system that
will contribute to a successful two wheeler bike taxi in Patna. Given the sad
scenario of public transport and rising commuting expenses, Fast Ride will
prove to be a cost-effective, readily available, fast and safe mode of transport,
specially for short or medium distance travel.
 Fast Ride will be of great use to the people of the city since traffic and the
subsequent time consumption in commuting is a pain to each person that makes
use of any means of transport to travel from one place to another, which is why
our service will prove to be successful in its use. With minimum competition in
Patna, we can innovate and make use of the opportunity to tap this space and
serve the people with something they greatly need and will appreciate and
taking a liking towards.
CONCLUSION
 The projected finances for Fast Ride show incurring of
losses in the first and second year since it is a new concept
and will take a while to spread and make an attempt to
thrive. However, we hope the service to be accepted by the
general public through the years and losses convert into
reasonable profits. This service aims at improving travelling
experience on a daily basis within the city.
 Fast Ride aims to become a part and parcel of the lives of
citizens of Patna very soon. We promise to assure the
quality of bikes, trained drivers, a friendly and productive
working environment for all our employees, quick and
prompt services and a happy ride for all the customers.

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