Fundamentals of Entrepreneurship: Business Plan for Outstation Taxis

This project presents a business plan for an outstation taxi service, addressing the unmet needs in the Australian market for intercity transportation. The plan begins with market research highlighting the limitations of existing taxi services and identifies an opportunity to offer outstation rides at competitive prices. The proposed business will utilize a user-friendly website and online booking options to enhance customer convenience. The plan emphasizes competitive pricing, transparency, and reliable service, aiming to differentiate itself from competitors. The value proposition focuses on price and customer service, supported by survey analysis in major cities. The project includes references to support the business model and address the identified market gaps. The business plan aims to provide a reliable and affordable alternative to existing services.

Running head: FUNDAMENTALS OF ENTREPRENEURSHIP
Fundamentals of Entrepreneurship
Name of the Student
Name of the University
Author’s note

1FUNDAMENTALS OF ENTREPRENEURSHIP
Technology has offered humanity with a lot of opportunities and options of expansion;
the advent of Internet has changed the world and has made the globe a small place to live in. with
that the transportation and connectivity has also reformed by leaps and bounces giving us
opportunities to travel and explore the world around us. The product that we are going to discuss
today is a culmination of both the factors.
To begin with, I would like to cite that for developing a new business idea, an
entrepreneur needs to undergo some essential stages and without a doubt, it can be stated there is
an interconnection between each of these stages.
According to me, the primary stage is undertaking a market research. In Australia, there
are various organizations that are providing taxi services in respect of the customers. From the
market research that I have conducted, I found out that these companies are providing taxi
services within a specific territory such as within a city as because, it is considered being a
territory based industry.
Due to this limitation, the passengers face the brunt of non-availability of outstation taxis
when they wish to travel to places outside the city or to different cities. From the market research
that I have conducted, it was found out that majority of the taxi companies that exists either do
not offer this service and the ones which do are charging exorbitant prices for the same.
So, the new business plan that I would like to propose will be solving to a large extent
this problem of the commuters. The business idea can be stated as, “Outstation taxi services
offered for passengers at a competitive price”.

2FUNDAMENTALS OF ENTREPRENEURSHIP
The company will be having its own website where contact numbers will be provided.
This will be done so that the passengers can do the booking of their rides by making a call to the
numbers that have been provided.
Moreover, there will be the availability of the option for online application by which the
passengers will be having the scope of booking their rides, via the internet. In the beginning, the
outstation taxi service will start operating from a selected few cities. This I have found out by
conducting a market survey.
Let me take you through the benefits of the service:
Firstly it has an easy to use and confusion free user interface website. Most of the time it
is a problem for us that while we go to surf a new website the problem we face is that we don’t
find most of the relevant options as they are hidden in some category or drop down menu. This is
not the case with our website (Witt et al 2015).
The most important aspect that runs in the minds of the public while hiring or booking a
cab is the whole that it is going to drill in the pockets. That will not be the case with our service,
the aim of the service that we are going to provide is high quality performance with reasonable
price rate. The prices of the distance are not going to fluctuate it will remain as it is while
booking the cab.
The idea was developed around the several controversies regarding the price slab of the
taxi and cab services. We offer total transparency in our services as the passenger will be
informed the price of the trip and then only after his or her approval the ride will be confirmed
(Robertson 2013).

3FUNDAMENTALS OF ENTREPRENEURSHIP
Another issue in the cab services that we have identified is the cancellation or denial of
the order by the drivers or the service provider. This is a major point of let down for the cab
service industry. Here in our portal there is no denial and there is no point where the company
will not be able to provide service to a customer. It will be up to the customer to take the ride or
to leave it. The value proposition of the company decided is price and customer service (Haimes
2015).
We developed this idea with the help of the analysis of the survey that was conduct in the
cities like Melbourne, Sydney and Adelaide. In the report it has been found that there is a
demand for “reliable” and “affordable” cab services in these areas. At first the idea may not
strike you as innovative but the service and the cost at which the service is offered is innovative
and lucrative for the people (Zeng et al. 2012).

4FUNDAMENTALS OF ENTREPRENEURSHIP
Reference list:
El-Gohary, H., 2012. Factors affecting E-Marketing adoption and implementation in tourism
firms: An empirical investigation of Egyptian small tourism organisations. Tourism
management, 33(5), pp.1256-1269.
Haimes, Y.Y., 2015. Risk modeling, assessment, and management. John Wiley & Sons.
Robertson, S., 2013. Campus, City, Networks and Nation: Student‐Migrant Activism as Socio‐
spatial Experience in Melbourne, Australia. International Journal of Urban and Regional
Research, 37(3), pp.972-988.
Witt, A., Suzor, N. and Wikström, P., 2015. Regulating ride-sharing in the peer
economy. Communication Research and Practice, 1(2), pp.174-190.