... 9 8. Customer Services 9-10 5.0 Operating Plan 11 1. Start-up Cost Summary 11 2. Legal Requirements 11 6.0 Financing 12-19 6.1 Break-even Analysis 12 6.2 Financial Analysis 13-19 7.0 Ratios Analysis 20 8.0 Conclusion 20 1.0 Introduction A taxi cab is a type of vehicle for hire with a driver, used by a single passenger or small group of passengers. A taxi cab conveys passengers between locations of their choice. In modes of Public transport, the pick-up and drop-off locations are determined by the service provider, not by the passenger. Although demand responsive transport and share taxis provide a hybrid taxi mode. Although types of vehicles and methods of regulation, hiring, dispatching, and negotiating payment differ significantly from country to country, many common characteristics exist. Many people have relied on a taxi cab to pick them up and take them to their destination. First taxi service is started in America. In 1890, city streets became crowded with horse drawn carriages and the Nation’s first automobile. This resulted in the taxi car service. However, the logistics were impractical. So, Electric-powered cars come to the field. Despite the impracticality of the taxi service, there were approximately 100 taxi cars in the streets of New York City by the...
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...Baccalaureate Diploma Program Podar International School Extended Essay Economics Research Question: Does Meru Cabs have a monopoly amongst long distance commuters in South Mumbai? Traditional Cabs Mega Word count: 3,996 Abstract Through this essay, I wish to investigate the market structure in which Meru, a privatized taxi service provider that networks throughout the city of Mumbai, functions in. As the popularity of Meru continues to grow rapidly, it invoked a few rather interesting questions; what kind of market structure does it comply to? “Does Meru Cabs have a monopoly amongst long distance commuters in South Mumbai?” Meru are one of the first to introduce quality taxi services in Mumbai, and cater to both North and South Mumbai residents. To investigate the market structure, many forms of data collection were considered. These include a survey with forty-five people amongst which half were from my building and locality (South Mumbai) and friends and family residing in the north. Also to further explore, I carried out a tabulated observation at the Mumbai Domestic Airport (North Mumbai) to tally mark the number of travelers traveling in different kinds of taxis and took an interview with Meru. The data obtained has been analyzed and represented with the help of diagrams such as pie charts, tables, and graphs. The market structure of taxi providers in Mumbai have characteristics of an oligopoly, however, Meru appear to be reaping the benefits of a monopoly...
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...BACKGROUND Taxi cabs are small cars or vehicles hired for a small group of passengers on non-sharing basis. The journey of taxi cabs in India began somewhere in 1910s as a replacement of horse wagons. The first taxis were the traditional Ambassador and Premier Padmini painted black and yellow to serve the Indians for daily commuting. These were metered taxis that gradually had spread over to various cities including Mumbai, Delhi, Bangalore and other major cities of the country. The business started sprouting results and thus it expanded the footprints in almost all the cities with a further addition of Fiat taxis. The taxi services or car rentals are available for all categories of people, be it middle class, company’s employees, high income groups or families. The service providers ensure that traffic chaos are handled and up to the expectations of the consumers. Gradually, with the changing generation and advancing technology, people have started desiring for enhanced comfort, luxury and service due to the high generated income and overall economic growth. This has shifted the trend from normal black and yellow taxis to other luxury cars including Tata Indigo, Tata Indica, Toyota Corolla, Mahindra Renault Logan, and many more, eventually giving an end to the ubiquitous black-and-yellow taxis. These luxurious and high-end taxis or cabs are seen only in metropolises in India whereas in some cities like Kolkata, traditional Ambassador is still used as taxis. Big corporate...
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...| * | | | | Vancouver Cab Company A Business Analysis Cheryl Bays BUS 101 Prof. Worthington Word Count: 1132 INTRODUCTION: The purpose of this paper is to give an analysis of Vancouver Cab Company, a local and family owned and operated Taxi Company. Included will be a description of the business and its stakeholders and give their relationship to the business, as well as the internal and external factors that affect the company and its employees, contractors and owners. DESCRPITION: In 2004 Jennifer and Tony Smith started Woodland Cab LLC with one car, a Chrysler Le Baron, in North Clark County as an LLC. In 2006 they moved into Vancouver with eight car certificates and six cars on the road. Tony drove cab for the “original” Vancouver Cab for 11 years, giving him and Jennifer a good sense of the needs and wants of the community they were to serve. The company values describe the business, “We are not here to get bigger than our britches, we are here to serve the people and business of Clark County and surrounding areas. Our goal is to have the customer arrive safely at their destination in a friendly, timely manner”. Vancouver Cab has a few different names such as Battle Ground Cab, Woodland Cab and Clark County Cab. STAKEHOLDERS: Vancouver Cab has an unlimited base of stakeholders that benefit from the company. The list cannot be compiled in any kind of a value to each stakeholder due to the variance of the importance...
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...Driverless Taxi This project is an advanced concept developed by Google putting into use their latest, challenging somewhat innovative technology especially designed for autonomous cabs. Their softwis involved is known as Google Chauffer. It is also identified as “self-driving cabs”. This project is initiated by co-inventor of Google Street view named Sebastian Thrum. Theirre is 15 engineers working on this project. Their created a robotic vehicle somewhat won a whooping US$ 2 million prize from their US Division of Guard. Governor Jerry Bill signed their legislation law at Google headquarters in Mountain View in September 2012 for autonomous cabs. Their State of Nevada became their first state in their United States to get their permit for autonomous cabs. California became their third state for their same law somewhat in May 2012 their first licensed cabs came into effect. Their technology behind this idea includes a $70,000 LIDAR (laser radar) system which allows their vehicle to generate 3D of its surroundings. Their maps along with their maps of their world is combined, somewhat produce different data types that allow their cabs to navigate somewhat drive it. Also, installed in their cabs is their system anti-lock brakes which is faster somewhat better due to ABS somewhat engine management help to keep their cabs stable on their road. Their testing was cab spied on about ten cabs each accompanied by a driver with a clean driving somewhat giving him company is one of their...
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...ON TAXI MERE SATHI (BUSINESS PLAN) BY- (SECTION B) ANVITA SHAW DEBARPAN SAHA NISHANT SEBASTIAN HARUN ROHAN SINHA SINU CHACO VARGESE SWOT ANALYSIS When examining the potential for a new business or product, a SWOT analysis can help determine the likely risks and rewards. SWOT, which stands for Strengths, Weaknesses, Opportunities and Threats, is an analytical framework that can help your company face its greatest challenges and find its most promising new markets.This analysis leads to business awareness and is the cornerstone of any successful strategic plan. Change is an inevitable part of organizing. If you know how to take stock of the strengths, weaknesses, opportunities, and threats, you are more likely to plan and act effectively. Taxi mere sathi had few strengths as well as weaknesses and opportunities,threats. Firstly coming to its strengths,it is convenient as it provides advance booking where travellers can book the taxi beforehand so that they get assurance beforehand.Taxi mere sathi provides quicker pickups,real time bookings on application and a 24*7 customer care centre.Taxi mere sathi provides security through mobile application as it is technological advanced.It provides security with a one touch button and sms alerts.It is modern in today’s time as it provides many features such as avaibility of cabs backed by a location tracking application.It provides premium cabs which...
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...Faculty of Engineering and Information Technology October 26th, 2011 Aerial Capital Group (ACG) Organization Case Study DECLARATION This report is completed by Group 7 with five members all pursuing their Master of Engineering – Coursework degree. The organization was chosen with the consent of every member of the group and further each member was assigned an area to study to help contribute to the case study. Constant project meetings were held to make progressive outcomes for this case study updating information database from what had been accomplished since the last meeting and setting further tasks towards the final target. All references of published projects, data and facts had been verified before they were cited in this report. All members of the group contributed to the composition of this report. The task taken by each group members are as follows : Ravi Ochani worked on the details about the organization, its operational process and Scheduling techniques. Alaxandar Anandhan took up environmental background(internal & external) and Quality management followed in organization. Anith Abraham involved himself with the HR & Job Design and problem identification relating to the key 10 OM’s. Karthik Krishnanath was assigned with the Service Design, Inventory management and maintenance involved in the organization. Allah Bux took up the Layout and Location strategy. The solutions were discussed as a team and everyone’s opinion was considered before...
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...| $1 | UberXL | $3 | $0.35 | $1.85 | $1 | UberPlus | $5 | $0.40 | $2.35 | $1 | UberBlack | $8 | $0.45 | $3.55 | n/a | UberSUV | $15 | $0.55 | $4.25 | n/a | Dynamic Pricing: Dynamic pricing refers to where the company set its pricing based on the available drivers and passengers requests. This scenario usually takes place during bad whether , traffic conditions, peak time , and holidays (supply and demand). Ridesharingdriver.com/how-much-does-uber-cost Forbes.com Washingtonpost.com/news/wonkblog/wp/2015 Are pricing practices consistent with competitors? Taxi cab VS Uber Rates According to Business Insider, Uber drivers offer better prices than taxis in many cities, but Uber drivers don’t always charge the same rate in each location. In times of high demand Uber initiates surge pricing , as we discussed in dynamic pricing. Uber charges the normal fare times a surge multiplier. Taxis charge riders per mile when moving, and per minute...
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...U5014042 ENGN2226 Portfolio Analysis of the Impact of Replacing Out-dated GPS Devices in a Taxi Fleet Name: Samuel Stefopoulos Student ID: u5014042 Course name: Engineering Systems Analysis Course code: ENGN2226 Lecturer: Chris Browne Assessment piece: Individual Portfolio Date submitted: 25th October 2013 U5014042 ENGN2226 Portfolio Summary GPS devices have become increasingly common due to the advancements of electronics. They can now be hand-held and are highly prominent on roads. This is particularly noticeable in taxis, as most cabs are now fitted with some form of GPS device and many fleets have enforced mandatory GPS policies. This document analyses the impact and worth of refitting a fleet of taxis the size of Canberra Cabs with new portable GPS devices. A series of systems analysis techniques were applied in the analysis of the devices in order to reduce the complexity of the components. A major period of device improvement was identified as the time between 2007 and 2009 based on a diffusion of innovations analysis. The analysis of two particular devices, the TomTom XL 310 (2007) and the Garmin Nuvi 1350 (2009), were used as a comparative measure of the improvements made in the time period. The devices chosen for analysis were ergonomically assessed in terms of their user interface. The major factors improved were found to be the prediction of text and consistency with other devices users may be familiar with. An experiment was then designed and performed to...
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...1. Executive Summary This report describes the various means by which Beck Taxi can increase its revenue and market share in the highly commoditized Cab Industry in Toronto. Any increase in pricing of radio service would lead to high attrition among the drivers and poor service quality in terms of timely service as drivers would start picking up fares. Hence Beck taxi should maintain status quo with respect to pricing radio fee. It should generate revenues through advertising inside and on the cab, by attracting more drivers, vehicle fleet owners and license plate holders by providing them incentives and by creating strong differentiating points by investing in technology and marketing activities. Situational Analysis Toronto’s Cab Industry has a supply overhang; also, there is not much differentiation between the 35 brokerages operating in Toronto in terms of the service provided hence cab service is highly commoditized. Toronto is a phone order market where speed of response is the index of customer service. Beck Taxi is the market leader, managing a number of plates and providing radio despatch service to vehicles. Its objective is to maximise its revenue and market share. Beck Taxi has not increased its radio fees since 1989 hence there is huge potential to increase its revenue by increasing the radio fee or implementing two part tariff where the driver is charged a fixed fee and a usage fee based on the number of radio despatches. But any increase in radio service...
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...entrepreneurs Travis Kalanick and Garett Camp. In a span of a few years, their Uber smartphone application revolutionized travelling around cities for millions of people around the world (Telegraph). The idea came to light when Kalanick and Camp could not hail a cab on a snowy night in Paris in 2008. They decided to solve the problem by creating an application that would be as simple as pushing a button and getting a car (Vanity Fair). Service The mobile application which is compatible on Android, iOS and Windows Phone enables riders to connect with drivers using their phones GPS capabilities. Thus, allowing both parties to know their locations and eliminating the question of when the ride will actually arrive. Payments are made through the mobile application via credit card – all in the background and completely cashless. Uber operates in 45 countries and cities from Abu Dhabi to Zurich. Furthermore, Uber offers this particular service at different levels:- UberX - which runs daily with economical cars that can seat up to four passengers and costs relatively lower than a taxi UberXL - which runs daily as well with economical cars however, it can seat up to 7 passengers. Thus, resulting in a cost that almost matches what a taxi would charge. UberBlack - which costs more because of the high-end town cars with professional drivers UberSUV – which charges a premium for larger vehicles UberLUX – which is the top of the line option. Customers will be able to ride in luxury cars such...
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...The SWOTT Analysis conducted for York County Cab was conducted based on internal and external factors. The one primary strength that was decided was the fact that York County Cab is a new service to the York County area. This will be York County Cab’s easiest strength because it is the most obvious to the public. The one primary weakness that was identified was the fact that since York County Cab is a new service to the area, we do not have a customer list or repeat customers. Once we establish the customer list, we can then gain customer satisfaction. The one primary opportunity that was identified was the fact that York County Cab can expand our business. Since there are no cab companies in the immediate area currently, York County Cab can expand the business up to 50 miles. This is likely to produce our greatest ROI (Return on Investment). The one primary threat that was identified was if York County Cab comes across new competitors within the area, closer than a 50 mile radius. Awareness, planning, and implementation are required to meet these challenges. SWOTT Analysis for York County Cab | Strengths * Location of my business * New service to the area * Quality processes and procedures | Weaknesses * New business/service to the area * Gain customer satisfaction | | | Opportunities * Developing market * Expanding business * Provide other services | Threats * New competitors * Price wars with competitors * Taxation is introduced to...
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...A FEASIBLE STUDY ANALYSIS REPORT OF LECAB EXECUTIVE SUMMARY: This report aims to provide a feasible study analysis on a company called LeCab- a French start-up business innovating in car transportation established in 2012. The report aims to analyse the market that LeCab is operating in including its competitors, customers, differentiation. From the market analysis it is seen that LeCab is facing tough competition in the UK market due to the fact that it has not established its name in the UK. The biggest competitor of LeCab in the UK market is Black Cab. In term of customers, the major customer group that often use taxis is the 18-29 age group. In addition to this, key concerns of consumers when using cabs are the knowledge of London of the taxi drivers, payment methods and awareness towards the environment. With regard to differentiation, it is seen that key differentiation of LeCab that makes it stands out to customers are elegance, awareness towards the environment and the community, which they use eco-friendly engines, taxi drivers, and comfort offered to customers. In term of its business model, LeCab only targets B2B customers and build direct relationships with customers through various means of communications such as FaceBook or LinkedIn. In order to introduce the service widely to reach target customers, LeCab has also worked in collaboration with a number of organisations across sectors from car providers such as Peugeot to newspapers such as The Times, The Economist...
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...technology. Customers raved about Uber’s reliability and convenience. The breathtaking efficiency of its value proposition had fueled astonishing growth: It was now said to be booking 2 million1 rides a day, and although it did not report revenues as a private company, analysts estimated Uber’s net commission from drivers would come in between $1.5 billion and $2 billion2 in 2015. But if there was an adage about disruptive technology companies—”move fast and break things”— few companies embodied this adage better than Uber. Not only did the company endure frequent customer criticisms about its surge pricing policy, Uber was constantly battling government regulators, taxi companies, and critics who charged that they were playing fast and loose with the legal system. Barry Korengold, President of the San Francisco Cab Drivers Association, described Uber this way: “I think of them as robber barons. They started off by operating illegally, without following any of the regulations and unfairly competing. And that’s how they became big—they had enough money to ignore all the rules.”3 Still,...
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...commuting to office or downtown. Hence the utilization of taxi cab service has increased over the time. A taxi business is a potentially profitable venture that you can invest on particularly if you live in the city and there are plenty of people who need the services of cabs. The taxi business is also a good business idea especially nowadays that people are already acknowledging the advantages of using public transportation over driving their own cars. If you are interested in a taxi business, here are some of the things that you will be interested to know: The Taxi cab Taxi cabs are your most important requirement to start a taxi cab business. It will be up to you to decide what car model you will use but it is best to inquire first from your licensing agency because there may be particular types of car that are required for use by taxi businesses. Operators of taxi businesses also have the option in choosing whether they will buy second hand cars or purchase new cars for their taxi business. If you prefer to use new cars for your taxi cab business, it is important that you understand it will require you to have more start up capital. You may, however, check out financing programs that you can avail of when purchasing your taxi business vehicles. Maintenance of taxi cabs will make up a bulk of your taxi business expenses so it will be wise to find a mechanic who can repair and provide maintenance of your taxi cabs on a regular basis. Other Requirements You...
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