The business plan for monorail is a highly specific document and one that you should give careful consideration to before you begin writing. Depending on where they are located and how frequently they run, monorails are used either for recreational/tourist purposes or as a means of rapid transport for commuters. Do you envision a tourist-oriented line, or one that caters to residents trying to get to work or into city center from the suburbs? This is a vital consideration that needs to be resolved prior to any draft working. Regardless, you will need to obtain construction quotes for the development costs, and if you will be working in conjunction with a municipal body, make sure these questions all have answers in your plan:
• What is the timeline from groundbreaking to operation?
• What are the target usage rates?
• What will the rider fees be and how do you envision them rising?
• Would the project be eligible for any tax subsidies or other incentives?
• What competition will the monorail face?
The competitive landscape could be two-fold. If other developers are trying to build something that would cater to the same user traffic, explain what advantages the monorail would have. If your idea doesn't have a direct emerging threat, look at the current costs of public transportation, common road use, and so forth. The business plan should also have a full implementation plan and a five-year pro forma (at minimum) showing the intended allocation of funding and proceeds and the ongoing expenses and ticket sales. The plan can be a daunting task but you can bring in professionals to help. MasterPlans has written business plans for transit concepts before and has been in business since 2002. Call today to learn how your plan can be completed in just 2-3 weeks. (877) 453-2011
