159941-download-20.08.2017.docx

159941-download-20.08.2017.docx - Table of Contents...

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Table of Contents Introduction ...................................................................................................................................... 3 Identification of the Opportunity Recognition Process ................................................................ 3 Description of the Opportunity .................................................................................................... 4 Analysis of the Opportunity ......................................................................................................... 4 Operation of the Business ................................................................................................................ 6 Marketing of the Business ............................................................................................................ 6 Marketing Feasibility ................................................................................................................... 6 Financial forecast of the Opportunity .......................................................................................... 7 Situational Analysis – SWOT and PEST E L E Analysis ................................................................... 7 SWOT Analysis ............................................................................................................................ 7 PEST E L E Analysis ...................................................................................................................... 9 Risk Assessment ......................................................................................................................... 10 Competitor Analysis ...................................................................................................................... 11 Porters Five Model ..................................................................................................................... 11 Conclusion ..................................................................................................................................... 13 References ...................................................................................................................................... 14
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Introduction Individual travellers, businesspersons, and tourists across Mauritius are searching for convenient, cheaper, and faster ways of travelling from one place to another. On the other hand, technological innovation of mobile applications can be used to design a platform of offering personalized and convenient connection between riders and taxi drivers. Despite the existence of taxis and cars for hire in Mauritius, the country lacks the convenient taxi model. In fact, the available taxis and cars for hire are relatively expensive. This shows a market gap to be filled and a business opportunity to be exploited. Therefore, this business opportunity aims at creating the innovative taxi system which offers customers with the required convenience and speed. Fast Taxi Services is a business idea that aims at offering convenient, reliable, and safe approaches of getting a taxi in Mauritius. The idea is to fill the gap of lack of secure, comfortable, and reliable taxis in Mauritius due to the high demand by tourists and local business people. Through the application, My Fast Taxi Service, individuals will be able to contact the nearby taxi driver when they need to commute to a certain destination. The pricing system will be based on distance travelled. The business will obtain 25 percent commission of the fare charged per trip while the driver who is the car owner will take the rest. Identification of the Opportunity Recognition Process The identification of this business idea was spontaneous through analysing a number of transport related information. Wurim (2013, p. 240) argued that searcbing vital inforamtion concerning the are of interest leads to spontaneous identification of profitable business opportunity. The opportunity recognition entailed analysis of various transport related sites and
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forums in Mauritius. The results showed that Mauritius lack the taxi aggregator services despite the higher demand from people. For instance, in a number of transport websites in Mauritius shows complaining about the lack of aggregator taxi services (Expat 2017). One person complained of increased negotiations with current taxi drivers and lack of adequate security. Therefore, through studying the transport sector in Mauritius through use of sources like Google Trends led to the identification of Fast Taxi Services.
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