A rickshaw company needs to prove that it can compete against larger players in the local transport industry, including (but not limited to) limo companies, taxicabs, and common public transportation options like bus, streetcar/monorail, and in larger cities, the subway. There is also the more direct threat of horse-drawn carriage or other novelty city tours, which can be numerous in larger metros like New York City, Los Angeles, or Chicago.
What you need to demonstrate is that your rickshaw operation can generate enough income to cover the routine expenses of maintenance and labor while leaving enough profit in the company to allow the owners to earn something while paying off the bank loan on schedule. To this end, the plan needs a model that can accomplish the following:
• Show a model that never has a negative cash balance
• Pin your assumptions to market averages or industry norms wherever possible
• Show that net profit will be sufficient to reward owners while paying off loan
• If you know you need to hire personnel, show when and in what numbers
The rickshaw business plan should also include a marketing strategy. While this doesn't need a ton of detail, this section of the business plan should at least illustrate how you can get customers to pay attention to your service offering. What specials or promotions could you run to drum up interest? The bank plan will also need a brief section explaining who you are and what you bring to the venture. Want help on the plan? MasterPlans can write the whole business plan for you, start to finish. Call our consultants today to learn more! Toll-free: 877-453-2011.
