A plan can make or break you, ask any entrepreneurs around the world. A business is supposed to make money. No matter how great the plan is if your business failed to make money in first few years of inception, you have to close it down.
A major problem with taxi business plans that fail are they focus too much on the supplementary stuffs than elementary: procuring cars, insurance, office, mobile apps, etc. While I am not denying they are necessary parts of a taxi service, they talk about spending money not making. The
transportation industry isn’t forgiving.
If you’re seasoned businessperson, you will understand having latest equipment isn’t going bring money into your business, neither can access to latest technology, nor aggressive multi-channel marketing.
Define Your Target Audience
A part of your target audience is going to be your customers. The better you define them, the easier time your marketing team will have creating advertisement campaigns.
They conduct customer surveys of your broad target audience and help you narrow down the sum. You need to learn where your target audience lives, work, what is their marital status, how many children do they have, what is their family income, which newspapers do they read, which tv channel they stream to.