Business Plan for Lets Go Share: A New Age Business Idea for Ride Sharing

This article presents a business plan for Lets Go Share, a new age business idea for ride sharing. It discusses the compelling business idea, supporting evidence, and project plan. The article highlights the mutual benefits of the drivers as well as passengers along with a focus on sustainability.

Running head: ENTREPRENEURSHIP, INNOVATION AND NEW VENTURE
Entrepreneurship, Innovation and New Venture
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Business plan for ‘Lets Go Share”
1. Compelling business idea/innovation
As the smartphone technology is advancing every day, people have become very much
dependent on their phones for every small thing in life. The ios and android technologies have
been compelling people to use them for almost all type of regular activities, such as, grocery
shopping to ride sharing. There are many companies in the transport market that connect with the
customers through apps and have launched services like booking a cab or sharing rides with
others. These are all professional services, where professional drivers with their own car register
and provide the service for the entire day. Uber is the biggest example in this case, followed by
Ola and Taxify in Australia (roymorgan.com., 2017).
Lets Go Share is the new business venture, which follows the idea of ride sharing, similar
to Uber and other companies, with a slight twist in the tale. This business venture is not for
professional drivers. It allows only those people, who travel to their offices by their own car, to
offer the unfilled spaces to others, who are travelling in the same route for a minimal charge of
only $5. The idea has many aspects, such as, it is beneficial for the person, who is taking his car
to the office. He can earn some extra money by offering the unfilled seats of his car to others.
This is not a fulltime job similar to Uber and Ola. Rather, people would do it by choice and it
will also provide them flexibility about how many seats they want to offer. On the other hand,
the people, who are compelled to take public transport and face huge difficulties due to lack of
seats, uncomfortable travel condition etc., can avail the opportunity to travel comfortably in a car
by paying almost same amount of money as in public transport. Apart from that, there is some
sustainability benefit attached to this business idea. As the general level of income is increasing

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regularly, number of people purchasing cars is increasing rapidly. If the number of car users
keeps on increasing at a regular interval, then the level of pollution will increase due to more
carbon emission. That will affect the environment negatively. Thus, this business venture will be
beneficial for both the driver and passengers as well as for the environment also. Hence, it can be
said that Lets Go Share is a new age business idea that focuses on the mutual benefits of the
drivers as well as passengers along with a focus on sustainability.
3. Supporting evidence
Ride sharing is a booming business in Australia. As the smartphone technology has
brought about a revolution, many companies have entered into the market with this innovative
idea of ride sharing. Booking of cabs and shared rides through apps has become extremely
popular among the people. Popularity of the companies, such as, Uber, Lyft, DiDi Kuaidi,
Taxify, GoCatch, hi oscar etc. have increased multiple times and Ola is the new company that
has announced to enter into the Australian market in 2018 (Chung, 2018). With time, the
competition is increasing. All these companies provides the benefits like, all time availability at
different locations, convenient booking system, rating system for the drivers, cheaper than
private cabs, promotional offers and discounts, and integrated payment system.
A report by Deloitte shows the market statistics of Uber. Since 2015, more than 14.5
billion rides have been introduced in Australia on a yearly basis (Deloitte Australia, 2018). There
are two major benefits of this service. Firstly, the point to point transport is easier for pick up and
drop service and makes it convenient for the customers to avail the service at any point and at
any time. Secondly, price difference is a major USP of the rival companies, which helps them to
capture a larger market (Lieu, 2017). However, it can be said that all these companies are

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operating in the market with fulltime drivers. The business idea for Lets Go Share is different
than these companies in terms of nature of drivers, price, and availability. There is no other
company in the market that has encouraged the office goers to share their own cars with
strangers, sharing the same route, at a minimal price. The service of Lets Go Share will not be
available all time. It will be a specific service available only during the office hours, 5 days a
week.
4. Project plan
The aim of the project is to provide the opportunity of sharing the ride with a mutual
benefit for both the car owner and the fellow office goers who travel in the same route by public
transport. The objective of the plan is to provide comfort to the people who avail the public
transport during the peak office hours and also helping the car owners who travel alone to earn
some extra money by offering the unfilled seats to the people travelling in the same route. It will
also help in achieving sustainability in the long run by not raising the level of carbon emission by
increasing the number of cars on road.
The project would keep the price low as a differential point with the other services.
During peak hours, the ride sharing services hike the charges and earn extra money. Lets Go
Share will charge the passengers a price as low as $5 a ride, similar to the public transport and
will pay the car owner a sustainable amount. This service would only be available for 5 days a
week during the office time of the car owners. Thus, flexibility, cheaper price would benefit both
the car owners and the passengers and also the environment with a cost of unavailability of the
service during the weekends and lean office hours. It is expected that this service would help the

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office goers during the peak time by travelling comfortably with a cost similar to that of the
public transport.

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References
Chung, F. (2018). ‘We are very excited about launching Ola in Australia’. NewsComAu.
Retrieved 6 February 2018, from
http://www.news.com.au/finance/business/travel/indian-ridesharing-giant-ola-coming-to-
australia/news-story/cbcd171515aa05f86e83e9f2af50add7
Deloitte Australia. (2016). Economic effects of ridesharing in Australia | Deloitte Australia |
Deloitte Access Economics report, Uber, uberX. Deloitte Australia. Retrieved 6 February
2018, from https://www2.deloitte.com/au/en/pages/economics/articles/economic-effects-
ridesharing-australia-uber.html
gocatch.com. (2018). GoCatch. GoCatch. Retrieved 6 February 2018, from
https://www.gocatch.com/
Lieu, J. (2017). Taxify launches in another country to challenge Uber's ride-sharing
dominance. Mashable. Retrieved 6 February 2018, from
https://mashable.com/2017/12/11/taxify-launch-australia-uber/#jM9PobULSsqz
roymorgan.com. (2017). Uber soars and well-placed to tackle rising competition. Roy Morgan.
Retrieved 6 February 2018, from http://www.roymorgan.com/findings/7444-uber-
growth-last-two-years-2015-2017-september-2017-201712150309