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FLASH DRIVE TAXI SERVICE

OWNERS OF FLASH DRIVE ENTERPRISES: SaJJo Sammiholasi & Nicholas Roach. FLASH DRIVE TAXI SERVICE. New Business Model. REVENUE MODEL AND PRICING TACTICS. Subscription Fee – from taxi drivers signing up to our service every month

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FLASH DRIVE TAXI SERVICE

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  1. OWNERS OF FLASH DRIVE ENTERPRISES: SaJJo Sammiholasi & Nicholas Roach FLASH DRIVETAXI SERVICE

  2. New Business Model

  3. REVENUE MODEL AND PRICING TACTICS • Subscription Fee – from taxi drivers signing up to our service every month • Usage Fee – taxi fare which customers pay to the taxi driver

  4. REVENUE MODEL AND PRICING TACTICS How to determine subscription fee? By interviewing taxi drivers. Depending on the area they live we will know their taxi route and how much they make per day, and per month on average. And the usage fee (taxi fare)? Through comparing prices to taxi fares. And researching distances from different places and dividing the cost by distance. Then having to ensure each taxi trip is more than 4 passengers on a normal taxi journey.

  5. Payment Flows TAXI DRIVERS PASSENGERS Taxi Fare Monthly Subscription fee FLASH DRIVE ENTERPRISES

  6. INSIGHTS • Hypothesis: • We assume passengers would not mind paying extra to reach home quicker and safer. • We assume taxi drivers would only subscribe if their profits exceeds their subscription fee.

  7. Experiments: • 1 on 1 interviews with our customers • Talk to passengers how much they willing to pay • Talk to taxi drivers to get a idea of their subscription fees per month • Research the price taxi drivers charge when they do long distance drops, for example Airport drops normally range $250 ~ $300

  8. Experiments: What we did Present a loyalty system to both customers, drivers and commuters. And come up with an idea that would give both of them the discounts they want and get them to bring in more customers at the same time.

  9. Results: What we found Taxi Drivers 82% of Taxi drivers agreed to having discounts on membership as an adequate incentive to give discounts to commuters. 18% of Taxi drivers suggested to have free membership when they give a certain amount of discount for the month. $300 a month seems the average price taxi drivers quoted for subscription Commuters 78% of our travelling customers agreed to use the system because of the incentives given to them for travelling. This is exceptional, this means that incentives would bring commuters to the taxi drivers to encourage them to use the service. 22% of out travelers preferred to use the transportation system they are accustom to.

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