FAREkoy, your travel buddy

 Company Profile
Vision
To be every traveler’s trustworthy travel buddy.
Mission
Providing travelers with Free, Accurate, Reliable, and Explicit (FARE) information on regular
fare rates.
Tagline
“FAREkoy, your travel buddy”

 Business Model Canvass

Key Partners:
- Government Agencies (e.g Land Transportation Office, Land Transportation Franchising
and Regulatory Board) for official fare data
- Jeepney and tricycle operators and associations for fare data collaboration
- Social media for app promotion (e.g Facebook, TikTok)

Key Activities:
- Updating jeepney and tricycle fare info.
- Maintaining a user-friendly app.
- Offer accurate and reliable fare data to ensure commuters have the correct information.
- Promote the service to travelers, making it easy for them to access and use fare
information.
- Manage and Target in-app advertising (ensure non-intrusive experience)
-Analyze user data to optimize app performance and ad targeting
-Secure partnerships for fare data acquisition

Key Resources:
-User data and analytics platform. Focuses on ad targeting and app optimization
-Mobile app development and maintenance team. Focuses on efficient development to
minimize costs.
-High-tech tools to handle fare data smoothly (e.g IT Professionals)
- Trusted Sources to get the latest fare information (e.g government agencies,
crowdsourced data)

Value Proposition:
- Give commuters free, accurate fare information for jeepney and tricycles.
- Make regular fare rates clear and transparent.
- Let users easily compare fares on different jeepney and tricycle routes.
- Help travelers plan their budgets with reliable information.

Customer Relationships:
- Providing fast and helpful assistance for fare queries and worries.
- Engaging with commuters on social media and feedback platforms to learn about their
needs.
- Sending customized fare alerts and updates to keep users in the know.
- Building trust by consistently offering precise and transparent fare details.

Channels:
- Mobile app for accessing real-time fare information.
- Partnership with local transport terminals for promotion.
- Social media channels for engaging with commuters.

Customer Segments:
- People who ride jeepney and tricycles every day to get around.
- Tourists and travelers checking out local spots.
- Students and workers who take jeepney and tricycles to school or work.
- Anyone looking for a cheap way to travel.
Revenue Streams:
- Partnering with local businesses and brands for ads.
- Selling premium features or subscriptions for better fare services.
- Getting commissions from partnerships with transport services.
- Hosting sponsored content and promotions.

Cost Structure:
- Spending on developing and keeping our tech up-to-date.
- Getting and handling data costs.
- Money used for advertising and promoting our service.
- Covering expenses for staff and helping customers.

 Competitive Analysis
1. Uber:
o Strengths: Established user base, extensive coverage in many cities, real-time
fare estimates, and seamless integration with ride-hailing services.
o Weaknesses: Focus primarily on ridesharing, limited information on public
transportation fares, may not provide comprehensive coverage in some
regions.
2. Google Maps:
o Strengths: Wide user adoption, comprehensive coverage of transportation
options including ridesharing, public transit, biking, and walking, real-time
fare estimates, integration with Google Pay.
o Weaknesses: May not always provide the most accurate fare estimates,
limited customization options for fare preferences.
3. Moovit:
o Strengths: Specialized in public transit, offers fare information, route
planning, real-time arrivals, and service alerts, available in many cities
worldwide.
o Weaknesses: Limited coverage for ridesharing services, may not provide as
detailed fare information for other transportation modes.
 4. Citymapper:
o Strengths: Detailed fare information, route planning, and real-time transit
updates for public transportation, user-friendly interface, available in major
cities globally.
o Weaknesses: Limited coverage for ridesharing services, may not provide as
extensive coverage in smaller cities or regions.
5. Transit:
o Strengths: Real-time public transit information, including fares, routes,
schedules, and service alerts, integration with bikesharing systems, available
in many cities worldwide.
o Weaknesses: Limited coverage for ridesharing services, may not offer as
detailed fare information for other transportation modes.

 User Story and Market Validation Result

User Story #1
As a commuter, I want to know the regular fare rate so that I won’t be paying extra for
travelling or going around the city.
User Story #2
As an average-earning worker, I want to pay only the exact amount of fare so that I can
budget my salary well.
User Story #3
As a student, I want to know the regular fare rates as well as the discounted rate so that I
can a lot my allowance properly.
User Story #4
As a tourist, I want to be treated as a regular commuter would be treated in my destination
so that discrimination issues may not arise which could affect tourism in that area.

Objectives
- To provide a system that informs its users on up-to-date regular fare rates
- To prevent overcharging from passengers
- To enhance commuter experience
About the product
A user-friendly application that shows updated regular and discounted fare rates for
tricycles and jeepneys from your starting pick-up point to your destination.

Target Market
- Regular commuters and tourists

Market Validation Results

Question Yes (%) No (%)

Are you a regular commuter? 100 0
Have you experienced paying more than the regular fare rate? 100 0
Do you think paying more for special trips* is reasonable? 20 80
*(special trips include: night trips, trips away from the driver’s
route, single passenger trip [capacity])
Do you think an app displaying the total amount of fare for 90 10
your trip would be helpful?
On a scale of 1-5 (with 5 being most likely and 1 being 1 2 3 4 5
least)
How likely are you going to install our app? 5% 5% 25% 50% 15%
Results are from 20 respondents.

 Capital Cost Estimation

1. ONE-TIME COSTS
 PRODUCTION NEEDS COST (Php)
A. Design Features
Branding 15000
Animation 12000
B. Technical Features
API Configuration 8000
 PHYSICAL RESOURCES QUANTITY UNIT COST TOTAL COST (Php)
A. Office space including purchase of
equipments
Office Cubicles (side-by-side cubicle) 3 11000 33000
Computers 2 15000 30000
Overhead projector 2 5000 10000
LED TV 2 8000 16000
  MISCELLANEOUS COST COST (Php)
A. Permit 5000
B. Taxes 10%

2. ON-GOING COSTS
 OPERATION AND MAINTENANCE SPECIFICATION COST (Php)
A. Rental of Office Space 300 sq.m. office space including 185000
meeting room, open area and
bathroom
B. Utility Costs Electricity bill 27500
C. Office Supplies - 10000
D. WiFi WiFi 6e (IEEE 802.11be) 6000
Coverage: 140-190 sqm.
Coverage Layer: 2.4, 5 and 6 GHz

 SALARY & OTHER QUANTITY SPECIFICATION COST (Php)

COSTS
A. Employees’ Salary
Project Manager 1 - 8000
Web Designer 1 - 8000
Programmer 1 - 8000
IT Specialist 1 - 8000
B. Marketing Costs Video and social media advertising 5000
C. Other Expenses Communication allowance 5000
D. Liabilities Accounts payable 25000
Short-Term Loans
Mortgage or Loan

SUMMARY OF COSTS
1. ONE TIME COST COST (Php)
a. PRODUCTION NEEDS 35000
b. PHYSICAL RESOURCES 89000
c. MISCELLANEOUS COST 5000
TOTAL COST 129000

2. ON-GOING COST COST (Php)

a. OPERATION AND MAINTENANCE 228500
b. SALARY & OTHER COSTS 67000
TOTAL COST 295500