Taxi Business Plan

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City Taxi, a San Francisco-based company, is committed to providing reliable, prompt, and safe taxi services. It does this by offering in-car credit and debit access along with computer-aided dispatch. The company will expand its market presence by purchasing Mighty Cab, an established taxi cab association that was founded 12 years ago.

City Taxi will offer complete taxi cab services, using the most up-to-date equipment and technology. Products and services from City Taxi show that they are innovative, forward-thinking companies that can adapt to customer changing needs. City Taxi’s philosophy emphasizes customer service and recognizes that communication is key to our success. In a competitive world, professionalism and flexibility are key to maintaining a leading edge.

The drivers and employees of City Taxi are courteous and helpful and have been trained in using the computer dispatch system. Drivers and passengers are both protected by City Taxi cabs fitted with Global Positioning Systems, which allow them to be tracked and found in an emergency. All City Taxi cabs will be clean, well maintained, and inspected regularly for safety and comfort.

Our strategy is to establish our business as an alternative to taxi cab services by building reputation and market share. The company’s goal in the next year is pursue an aggressive marketing campaign and from that, penetrate at least 65% of the market share. The company’s long term goal is to become the number one ground transportation company San Francisco.

The company’s emphasis is on the dispatch, mobile data, and credit/debit card markets of the taxi industry. These markets, taken together, are estimated to be worth more than $119million as of March 1999. City Taxi will be focusing on the most lucrative credit card/debit-card segment in these markets. While this segment has been introduced slowly to certain areas, it has experienced a rapid increase in popularity over the three years. It has increased by 20 percent in Maryland and Virginia each year, and 25-35% in New York each.

City Taxi competes against Transportation, Inc., Capital Cab, Yellow Cab, Diamond Cab, as well as other companies. Their weaknesses include the inability to accept credit/debit cards and the fact that some still use the radio dispatch system. Our technology is unique in San Francisco, which gives the company an advantage. By using GPS, the company will be able to provide timely service and give an estimated time-of-arrival (ETA). The credit/debit card feature will give customers convenience and privacy during the transaction period.

Reliable communications in this business are vital under any circumstances. City Taxi will be using the KDT5000 system. KDT 5000 system design ensures communications will remain reliable under all conditions. Rockwell International, which will create a state-ofthe-art call center, will run the company’s communications system.

The company seeks $2.5 Million of financing to help fund the acquisition of Mighty Cab Association as well as its initial operations. This financing will be used to purchase Mighty Cab, market, buy additional vehicles, software, hardware, and marketing. The 1999-2001 revenue projections are $200,000, $1.5 Million, and $2.2 Million, respectively.

1.1 Objectives

The company’s goal is to launch an aggressive marketing campaign over the next year and then penetrate at least 65% of the market. The company’s goal for the next two to five year is to become the most highly rated ground transport company in San Francisco Metro Area. It will do this by constantly monitoring, evaluating, following up on customer calls.

These are key components of City Taxi&#8217’s original strategy.

Establish a relationship with Rockwell International. Rockwell International is currently establishing and developing a working relationship. City Taxi can now lock in the many services they offer, including but certainly not limited to:

• Managerial

• Call center and customer service efficiency

• Management consulting

• Technology consulting

• Product management

• Continuous improvement

1.2 Mission

City Taxi’s mission is to provide safe, reliable and timely cab service by making use of in-car credit/debit cards access along with computer-aided dispatch.

1.3 Highlights

Highlights of City Taxi

• 
  Technology
  
  . City Taxi has a unique Global Positioning System (GPS) that pinpoints the nearest driver, thus allowing the driver to give an accurate ETA.

• 
  Credit/debit card system
  
  . This system, which is unique in San Francisco, allows for instant approval. The swipe machine is located in back of the car, giving passengers privacy.

• 
  Trademarks
  
  . The company is currently in the process to register the name Patriot as trademark.

• 
  Advertising
  
  . City Taxi is already in advanced discussions with TCI Media Services to provide advertising services and market research.

• 
  Seasoned Management
  
  . Management is highly qualified and has extensive industry experience.

• 
  Strategic relationships
  
  . The company has, and will continue to establish, relationships with organizations that will enhance professional growth. These alliances are valuable to City Taxi because they allow us to get updates on technology, added tech support, and a strong presence in the market.

• Exclusive rights for software. City Taxi is the only company that has access to the most recent taxi cab software for San Francisco.

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