City Taxi is a San Francisco, CA based company, whose mission is to provide reliable, timely, and safe cab services by using complete, in-car credit and debit card access, along with computer-aided dispatch. The company will be establishing its presence in this industry by buying Mighty Cab, a 12-year-old family-owned taxi cab association.
City Taxi will provide taxi cab services in San Francisco using the most current equipment and technology. The company’s products and services show that we are an innovative, forward thinking company that recognizes the need to move with ever-changing customer needs. City Taxi has a philosophy that values service and realizes the importance of effective communication. Company also recognizes the importance of professionalism and flexibility in a highly competitive market.
Drivers and employees are friendly, helpful, and well-trained in the use of the computer dispatch system. The City Taxi cabs come with Global Positioning Systems (GPS) as an extra safety measure. This allows the cabs and drivers to be tracked in an emergency. All City taxi cabs will have regular inspections to ensure safety, comfort, and cleanliness.
Our company’s strategy is build reputation and marketshare by positioning our business offering in the area as an alternative to taxi-cab services. The company’s goal in the next year is pursue an aggressive marketing campaign and from that, penetrate at least 65% of the market share. Long-term, the company’s goal is to be the best ground transportation company in San Francisco.
The company’s main focus is on the taxi industry, including dispatch, mobile data and credit/debit markets. These markets could potentially generate sales of more than $119 million in aggregate as of March 1999. City Taxi’s focus will be on the lucrative credit card/debit segment in these markets. While this segment has been introduced slowly to certain areas, it has experienced a rapid increase in popularity over the three years. It has increased by 20 percent in Maryland and Virginia each year, and 25-35% in New York each.
City Taxi competes with Transportation, Inc., Capital Cab, Yellow Cab, Diamond Cab, and Yellow Cab. Their weaknesses are the lack of a credit/debit payment option and the use of the radio dispatcher system. Our technology is unique in the taxi industry of San Francisco and gives us a competitive edge. By providing an accurate estimate of time of arrival (ETA), the GPS will allow the company to deliver timely service. Customers will be able to use the credit/debitcard feature for convenience and privacy during transaction periods.
Reliable communications in this business are vital under any circumstances. City Taxi will thus use the KDT5000 technology. KDT 5000 system design ensures communications will remain reliable under all conditions. Rockwell International, which will create a state-ofthe-art call center, will run the company’s communications system.
To finance the purchase of Mighty Cab Association, and its initial operations, the company seeks $2.5 million in financing. This funding will cover Mighty Cab purchase, marketing, purchase extra vehicles, software, and hardware. Estimated revenues for 1999, 2001 and 2002 are $200,000 respectively.
The company’s goal for the next year is an aggressive marketing campaign that will allow it to penetrate at least 65% market share. The company’s goal for the next two to five year is to become the most highly rated ground transport company in San Francisco Metro Area. It will do this by constantly monitoring, evaluating, following up on customer calls.
Key components of City Taxi’s initial strategy can be summarized as follows.
Establish a relationship to Rockwell International. The company is currently working to establish and develop a working relationship with Rockwell International. City Taxi will be able to take advantage of the many services offered by Rockwell International, including but not limited to:
- Customer service efficiency and call center efficiency
- Management consulting
- Technology consulting
- Product management
- Continuous improvement
City Taxi’s goal is to provide reliable, efficient, and safe cab services. It does this by offering in-car credit/debit, as well as computer-aided dispatch.
Highlights of City Taxi
. City Taxi features a unique Global Positioning System that (GPS) pinpoints the closest driver. This allows the driver give an exact ETA.
Credit/debit card system
. This system, which is unique in San Francisco, allows for instant approval. The swipe machine is located in back of the car, giving passengers privacy.
. The company is currently registering Patriot as a trademark.
. City Taxi is in advanced negotiations with TCI Media Services to provide market research and advertising services.
. The management team is highly skilled and qualified, with extensive industry experience.
. City Taxi has established and will continue to build relationships with organizations that will help professional growth. These alliances are valuable to City Taxi because they allow us to get updates on technology, added tech support, and a strong presence in the market.
- Exclusive Rights to Software. City Taxi has the exclusive rights to the latest taxi cab software in San Francisco.