RideShare

Project Plan
&
Business Plan

Name : Hassan Tariq

Roll-No: 3377-BSSE

Abdull Moiz Shah

3344-BSSE

Teacher : Ma’am Khola Ilyas Date: 5.2.2023

 Business Plan

1. Executive Summary

A brief overview of the ride-sharing sector, its main competitors, and its unique features could be found
in an executive summary. It would likely be directed at corporate leaders or investors who must
understand the fundamentals of the sector and its growth potential quickly.
riders as well as drivers can gain greatly from ride-sharing. It offers a practical, cost-effective, and
sustainable substitute for conventional transportation for users. It provides drivers with a flexible and
possibly lucrative means of making money.due to reasons like escalating urbanization, the expansion of
the gig economy, and the rising acceptance of sustainable transportation options, the ride-sharing
business is predicted to keep developing. executives in business and investors alike should carefully
weigh the advantages and disadvantages of this dynamic and quickly changing sector.

2. Business Description

Ride sharing app is a new idea, we will charge for the empty seats in their car and use the money to
lower their travel costs in our new ride-sharing app, which is a fresh notion for passengers and drivers
travelling in the same direction. Drivers of personal vehicles Through a ridesharing public organization,
Customers are linked with those attempting neighboring taxicab-like services. It is available in the
largest cities in a number of nations. The fundamental concept of Rideshare is splitting up trips so that
multiple people can ride in one vehicle. The cost of each person's journey, including fuel and driving
stress, can be reduced when there are more passengers travelling in the same car.
As sharing trips minimizes air pollution and traffic congestion on the roads, Rideshare is also
considered as a more beneficial and ecologically friendly method of transportation.as well as the
requirement for parking places. it is suggested, particularly during times of heavy pollution, excessive
gasoline costs. Car sharing consists of a group of paying individuals who access a fleet of cars along
with other paying members periodically over time. Ridesharing exists when two or more trips are
executed simultaneously in a single vehicle. Its main anticipated impact is to increase car occupancy,
with a consequent reduction in the number of cars traveling on urban roads Ridesharing is largely
exempt from regulation. Ride-sharing aims to minimize negative impacts related to emissions, reduce
travelling costs and congestion, and increase passenger vehicle occupancy and public transit ridership.
During the last decade, innovative mobility solutions were introduced, including on-demand mobility
services and Mobility as a Service, that focused on daily travel needs to promote sustainable transport
To provide a detailed understanding of ride-sharing it should be noted that users in this study are
divided into drivers and passengers. Ride-sharing platforms refer to official providers or companies of
ride-sharing services.With the increase of environmental concerns and the congestion of roads,
Rideshare has gained a lot of popularity when it comes to environment-friendly and cheap ways of
travelling.
3. Market Analysis
A ride-sharing market analysis looks at the industry's rivalry, consumer behaviour, and market size—
both current and future. Investors, other stakeholders, and those who operate ride-sharing services may
find this analysis .

3.1 Business Size: The desire for accessible and economical transportation options has caused the ride-
sharing business to expand quickly in recent years. The global ride-sharing market, which was
estimated at $67.4 billion in 2020, is anticipated to increase at a 9.2% compound annual growth rate
(CAGR) to reach $117.34 billion by 2026.

3.2 Competition: Major competitors like Uber, Lyft, and careem, indrive dominate the market in the
fiercely competitive ride-sharing sector. These businesses employ a variety of techniques, such as
providing diverse services, collaborating with other businesses, and utilising cutting-edge technologies,
to set themselves apart from the competition and increase their market share.

3.3 Consumer Behaviour: The success of ride-sharing businesses is significantly influenced by

consumer behaviour. Customers are searching for economical, dependable, and convenient
transportation solutions. They may select ride-sharing businesses that provide electric or hybrid
vehicles since they are likewise becoming more and more concerned about environmental
sustainability.

3.4 Regulations: The ride-sharing sector may be impacted by regulations. The operations and financial
success of ride-sharing firms may be affected by the safety, insurance, and driver screening regulations
that have been put in place by numerous jurisdictions.

3.5 Emerging Trends: The rise of autonomous vehicles, the expansion of electric and hybrid
automobiles, and the rising use of mobile payments are just a few of the industry's emerging trends.
The future of the ride-sharing sector is expected to be impacted by these trends, which also bring
opportunities and difficulties for businesses involved in this sector.

Comparison of different ride-hailing Uber Careem InDriver Swvl Ride

Apps in the market. share

Schedule a ride for right away or later. *

Drivers' real-time tracking * * * * *

Real-time sharing of ride tracking * *

Sharing a cab or ride *

Split Fare * *

Multiple drop-off location * *

Multiple payment option * * * *

Preferred Drivers * * * *

Drivers and User Review and Rating * * * *

Fig 1 Comparison of features

4. Marketing Strategy

A ride-share company's marketing approach focuses on luring customers and drivers to use the service.
Here are some essential elements of a typical ride-share company marketing plan:

4.1 Branding: we as a ride-share company needs to build a strong brand identity to set itself out from
rivals. This include creating a catchy name, logo, and tagline that communicate the company's
principles and advantageous we have.

4.2 Acquisition: To increase the number of users on its platform, a ride-sharing business needs to
entice new drivers and passengers. On social media, search engines, and other online platforms,
targeted advertising campaigns can help achieve this. Additionally, the business might run specials and
discounts to entice customers to try its services.
4.3 Referral programs: are a well-liked strategy used by ride-share firms to recruit new consumers.
The business can access a new pool of potential passengers and drivers by rewarding current customers
for bringing friends and family to the platform.

4.4 Partnerships: Ride-share companies can collaborate with other enterprises to broaden their
customer base and provide consumers with more advantages. For instance, a ride-share firm might
collaborate with a chain of restaurants or hotels to provide discounts to users of the service.

4.5 Customer Retention: Maintaining a customer base is essential for any ride-sharing business. The
business must offer a dependable and convenient service, strong customer support, and loyalty benefits
and incentives to keep riders and drivers interested.

4.6 Business model

fig 2 Business Model

5. Operations and Management

A ride-share company's operations and management involve a number of crucial tasks and procedures
that are essential to the company's success. The following are some of the key facets of a ride-sharing
company's operations and management:
Recruitment & Onboarding of Drivers, In order to operate, a ride-sharing business must hire drivers.
This entails creating a successful plan for hiring drivers, checking their credentials and qualifications,
and integrating them into the platform.

5.1 Rider matching and dispatching: A ride-sharing company must dispatch drivers and passengers in
real-time according to preferences, location, and other criteria. This calls for highly complex
dispatching systems and algorithms that can rapidly and effectively route cars to riders.
Pricing and Payment,A ride-sharing company must set prices for its services that are competitive,
appealing to riders, and that pay drivers fairly. Additionally, the business must oversee payment
processing and guarantee accurate and timely payment of drivers.

5.2 Safety and Security: For every ride-sharing firm, safety and security are top priorities. To
safeguard passengers, drivers, and other parties, this calls for the creation of safety protocols,
background checks, driver monitoring, vehicle inspections, and insurance coverage.
Customer service Both drivers and passengers must receive dependable and efficient customer service
from a ride-sharing company. This entails responding to questions and grievances, settling conflicts,
and offering support for the app and service.

6. Financial Projections

6.1 Cash flow statement

cash inflows and outflows

Of rideshare 6.2
10 12 Bal
Cash Flow from Investing Activities

9 anc
8 10 e

Net Increase in Cash

7 shee
8
6 t
5 6
4
3 4 Ride
2 2 Date:
1 1 may
2023
0 0
Row 1 Row 2 Row 3 Row 4
Cash Flow from Operating Activities
Balance Sheet
Cash Flow from Financing Activities

Assets
Current assets: $5.00 $100.00
Cash $50.00 $50.00
Accounts Receivable - -
Prepaid expenses -$500.00 -$500.00
Inventory -$100.00 -$1,000.00
Total current assets -$550.00 -$1,450.00

Property & Equipment $500.00 -$500.00

Charity - -
Total Assets -$1,950.00

Liabilities

Current liabilities: $20.00 $20.00

 Accounts payable - -
Accrued expenses $500.00 $500.00
Unearned revenue - -
Total current liabilities $500.00 $500.00

Long-term debt $1,000.00 $1,000.00

Other long-term liabilities $2,000.00 $2,000.00
Total Liabilities $3,500.00 $3,500.00

Shareholder's Equity
Investment capital - -
Retained earnings - -
Shareholder's Equity $0.00 $0.00

Total Liabilities & Shareholder's Equity $3,500.00 $3,500.00

Balance $3,500.00 $5,450.00

Conclusion

The ride-share sector has, in our opinion, revolutionised how people get around and commute in cities
and towns all over the world. As a more convenient, flexible, and affordable option for travellers, ride-
share services have gained popularity as a substitute for conventional taxi services and public
transportation.Using sophisticated algorithms and dispatching systems, ride-sharing has the ability to
instantly match passengers with drivers. This enables drivers to pick up and drop off passengers
quickly and easily while also enabling riders to find a ride with ease.The ride-share sector has also had
a big impact on employment, giving drivers new chances to make money and have flexible hours.
The effect of ride-sharing on traffic congestion and pollution is one of the key issues, especially in
cities where ride-share services have grown in popularity. The handling of drivers and their job status
has also drawn criticism, with some claiming that ride-share drivers ought to be considered employees
rather than independent contractors.In conclusion, the ride-share market has profoundly altered how
people commute and travel, offering users better comfort, adaptability, and cost. Along with disrupting
conventional taxi services and public transportation, the industry has also produced new job
opportunities. The overall effects of ride-sharing have been positive and revolutionary, despite some
worries and critiques, and the sector is probably going to keep expanding and changing in the years to
come.