Seeking a pedicab business plan? The pedicab business is fairly simple, as models go: you need to purchase (or lease) a human-powered carriage to carry passengers, and you need to ride it in highly-trafficked areas so as to attract enough customers to make a decent living. A one-man operation won't require high overhead, personnel, or maintenance costs, so the business plan itself can be remarkably simple provided you envision only a one-man show. Still, in order to garner enough support from the SBA or your local bank to obtain the funding you need to get started, you'll want to make sure that your business plan adequately covers all of the following points:
• How many passengers do you need to carry per night to be successful?
• When could you hit break-even?
• What are your upfront costs and what fees will you face besides minor ongoing maintenance?
• Would you need to hire anyone or outsource any tasks?
• What amount of money are you seeking?
The business plan should also make clear that you know what the state and/or municipal laws are that you should be in compliance with, if any. Do you need a permit, or a special license to operate in the area? Who are you competing against, besides horse-drawn carriages, limos, cabs, and public transportation methods? Show what the likely market shares are and try to illustrate how much revenue you could generate as a pedicab driver. Also look at the city's history of acceptance (or resistance) to pedicabs is, and try to make a statement about why you can be successful. Need help with this plan? MasterPlans has written more than 8,000 business plans to date and specializes in unique start-up business models. Call us today to learn more about how we can help. (877) 453-2011.
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