Developing a Business Plan for The Pink Cabs: Women-Only Taxi

This report outlines a comprehensive business plan for 'The Pink Cabs,' a women-only taxi service in the UK, focusing on safety and security for female passengers. It includes a SWOT analysis identifying the business's strengths (unique service), weaknesses (new business, limited funding), opportunities (unmet safety needs), and threats (established competitors). A PEST analysis evaluates the political, economic, social, and technological factors impacting the business. Market research findings, competition analysis, and viable market targeting suggestions using digital platforms are also discussed. The plan aims to differentiate itself by prioritizing women's safety, fair pricing, and donating profits to cancer support, addressing a gap in the existing market dominated by companies like Uber and Radio Taxi.

Women Only Uber Like
Service

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Overview of the business idea.....................................................................................................3
SWOT analysis of The Pink Cabs (Pseudo name).......................................................................4
Evaluation of external environment (PEST)................................................................................4
Summary of market research and its results................................................................................5
Discussion of competition............................................................................................................6
Viable suggestion for targeting the market..................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................1

INTRODUCTION
A successful business plan can be created after keeping the necessary and various aspects
of the proposed business and market in mind. The plan can be helpful in providing the company
with a structured strategy that can be helpful for the business to follow and achieve the
successful performance at the starting of business (McKeever, 2018).
The report will explain about the various aspects of a successful business plan that can be
used to achieve the sustainable growth in the business. Furthermore, the report will explain about
the various factors that can influence the business before operating it in the market. The aim of
the report is to analyse and understand the various aspects of a successful business plan.
MAIN BODY
Overview of the business idea
The business idea is to launch the cab and taxi services that will mainly focus on the
women. The business will provide the services of assured safety and security of the female
travellers so that the women are in the opinion of believing that taking the service will be
beneficial for them. The Pink Cabs (Pseudo name) will be providing the services to the women
by providing them the assurance of safe and secure riding experience with the help of having
the women drivers. The drivers will be trained enough to provide the experience of better and
safe travelling. The cabs will be painted in pink so that it will differentiate between the regular
cabs and will be able to identified as the cabs that are only for women.
The Pink Cabs (Pseudo name) will keep the fair prices low so that the women will not be
restricted by their budget and will be able to take the cabs for travelling from one place to
another. The business will generate the revenue by providing the women with the better and
affordable services of cabs. The idea of keeping the prices of fair lower than the regular cab
services will be better for women as they will not be required to take the public transport that can
make them uncomfortable in travelling. The Pink Cabs (Pseudo name) will generate as much
revenue as it can and will donate the profits to the Macmillan Cancer Support charity of UK that
operates to help the people that are dealing with cancer (Macmillan cancer support, 2021).

SWOT analysis of The Pink Cabs (Pseudo name)
The SWOT analysis can be done to understand the various internal and external factors of
the company (Teoli, Sanvictores and An, 2019). Strength- The strength of The Pink Cabs (Pseudo name) is the unique idea of providing
the services to the female audiences of the UK. The company will operate the business
with a unique idea that is new in the market and has not been implemented by any other
companies. This will provide the company with the benefit of standing out from the
competitors and making the business successful in the starting times of its operations
(Hasan and Koning, 2019). Weakness- The weakness of the company is that it is a new business idea and the
company does not have enough funding or the resources for investing in the company.
The company does not have enough monetary support and the resources of the cars that
can be used as the cabs for providing services to the women. Opportunities- The main opportunity for The Pink Cabs (Pseudo name) is that there is no
cab service provider that focuses on the women safety and provide the sufficient means
that can ensure the safety of women. The business will be able the large number of
women travellers because of its unique idea. Another opportunity for the company is that
the company will keep the prices of the fair lower than its competitors that will be
beneficial for attracting the women audience.
 Threat- The threat to The Pink Cabs (Pseudo name) is that there are already pre
established cab service providers that owns the huge market capital in the UK. This can
be a threat for the company as the organization will be required to create the brand value
at the start of its business (Wang, 2019).
Evaluation of external environment (PEST)
The external environment of the UK will be helpful in understanding the situation and the
impacts of the various factors of the country on The Pink Cabs (Pseudo name). Political- The political aspect of the country is very stable as the UK is having a safe and
secure political environment for the citizens of the country. The government is in the
support of providing women with the various types of benefits and perquisites. This will

make a positive impact on the business as the company will be operating to provide the
services only to the women (Benzaghta and et.al., 2021). Economic- The economic factor of the UK is strong as the GDP of the country is strong
and the people of the country earns in a good manner that allows them to spend on their
needs and desires. This will make a positive impact on The Pink Cabs (Pseudo name) as
the women will not hesitate in spending their money on the fair of taking a cab service. Social- The social factor of the UK is changed as the people of the country are now
taking the steps towards living a high standard life (PEST of UK, 2022). The people of
UK is spending on the things that can raise their standard in the society. This will create a
positive impact on the business as the women will be taking the cab service instead of
public transport to maintain and keep their standard of living high.
 Technological- The UK is more technology driven country and making the steps towards
having a better and technology driven culture. The UK is having the digital means of
booking cab services. This will make a negative impact on the company as The Pink
Cabs (Pseudo name) will be required to create software and applications that allows the
women to book the services online through their mobiles (Vlados, 2019).
Summary of market research and its results
The Pink Cabs (Pseudo name) has conducted various types of market research and came
to the various decisions that led to the idea of the business (Shtal and et.al., 2018). Survey- The company did the various types of surveys that helped in gathering the
various types of information about the market and the necessary changes that is required
to be brought in the market. The result of the survey was that there is no provider of the
cab services that is more focused on the safety and interests of the women. Interviews- The Pink Cabs (Pseudo name) has taken the interviews of various experts of
market behaviour and asked them about their opinion on the current conditions and
requirements of the market. The result was that the experts has expressed that the market
of UK is lacking the services that targets only a specific group and operates to benefit
them.
 Focus Groups- The company has made the various activities of focus groups in which
the organization has conducted the group interview and gathered a group of people

(Prostova, Sosnina and Tikhonova, 2020). The people have been asked that what change
would they like to see in the traditional services of cabs and taxis that have provided to
them. The result of the interview was that the service providers should be more focused
on the safety and concerns of the women so that they will not hesitate in travelling alone.
Discussion of competition
The competitors of The Pink Cabs (Pseudo name) are the big players of the market that
holds a hug market capital and provides the services of the cabs and taxis to the people of UK.
The competitors have gained the trust of the people and created a monopoly in the market as the
Uber and Radio Taxi of the UK are providing the services to the customers that are looking for
the cab services for travelling from one place to another (Jukova and et.al., 2019). The Pink Cabs
(Pseudo name) will be taking the advantage in the market as the competitors are not focusing on
the safety of women and uses the regular business model that provides the services to all the
people.
The company will be required to promote its business in the starting as the business and
the idea of the business is new and requires the awareness of the people that there is a company
in the market that is operating to provide the services of cabs that is more focused in providing
the safety and security to the women rather than just making profits. The competitors are mainly
focused on increasing the revenue of their business by charging the customers with more prices
for the services that they are providing (Pérez Ortega, 2020).
Viable suggestion for targeting the market
The suggestion can be made for targeting the market is that the organization is need to
promote the idea of their business to the women by advertising the services of the company on
the various digital platforms that can help the company in reaching to the customers. This can be
done by advertising the services of the organization on the television and the social media
platforms so that the business can be promoted and the services of The Pink Cabs (Pseudo name)
can be marketed to the women audience in the market (Abdullah, 2020).
This can be helpful for the company in attracting the audience from the various
platforms. The social media marketing will be able to promote the business in the youth audience
and attract them towards the services of the company. This will make the audience to be more

aware that there is a cab service provider in the market that is mainly focused on providing the
safety and security to the women travellers (Vašutová, 2020).
CONCLUSION
Thus, it can be concluded as the business plan can be created for achieving the successful
growth in the business before launching it in the market. The successful business plan can be
made after analysing and understanding the various aspects of the market that can make an
impact on the business and its operations. The business plan for The Pink Cabs (Pseudo name)
can be very helpful for understanding the various aspects of the market that can be necessary to
be kept in mind before operating the business in the market.

REFERENCES
Books and journals
Abdullah, R., 2020. Importance and contents of business plan: A case-based approach. Jurnal
Manajemen Indonesia. 20(2). pp.164-176.
Benzaghta, M.A. and et.al., 2021. SWOT analysis applications: An integrative literature
review. Journal of Global Business Insights. 6(1). pp.55-73.
Hasan, S. and Koning, R., 2019. Conversations and idea generation: Evidence from a field
experiment. Research Policy. 48(9). p.103811.
Jukova, E.E. and et.al., 2019. Planning a new business: typical mistakes of a business plan in the
service sector. Journal of Environmental Management & Tourism. 10(3 (34)). pp.441-
447.
McKeever, M.P., 2018. How to write a business plan. Nolo.
Pérez Ortega, D.C., 2020. Business plan based on a new business idea: Gadget PC.
Prostova, D., Sosnina, N. and Tikhonova, A., 2020. Sustainable development of organizations in
modern conditions. In E3S Web of Conferences (Vol. 208, p. 03030). EDP Sciences.
Shtal, T.V. and et.al., 2018. Methods of analysis of the external environment of business
activities. Revista Espacios. 39(12).
Teoli, D., Sanvictores, T. and An, J., 2019. SWOT analysis.
Vašutová, S., 2020. A Business Plan for a New Company.
Vlados, C., 2019. On a correlative and evolutionary SWOT analysis. Journal of Strategy and
Management.
Wang, K., 2019. Towards a taxonomy of idea generation techniques. Foundations of
Management. 11.
Online
Macmillan cancer support. 2021. [Online] Available through: <https://www.macmillan.org.uk/>
PEST of UK. 2022. [Online] Available through: <https://pestleanalysis.com/pest-analysis-of-the-
uk/>
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