business plan of uber

This is quite remarkable — an entire global network miraculously “level loads” on its own. Driver-partners unilaterally decide when they want to work and where they want to work. The flip side is also true — they have unlimited freedom to choose when they do NOT want to work. Despite the complete lack of a “driver-partner schedule” this system delivers pick-up times that are less than 5 minutes (in most US cities (with populations over 25K) and in 412 cities in 55 other countries.

In short, Uber has been able to build with an invisible hand a global network able to “manage” bottom-up and with no such thing as a “schedule”!

Uber vision

Becoming a top urban mobility platform is part of Uber’s ultimate vision as pointed out by Uber:

We see the Uber app as moving from just being about car sharing and car hailing to really helping the consumer get from A to B int he most affordable, most dependable, most convenient way,

When acquiring a bike-sharing company called Jum, Uber specified :

Our ultimate goal is one we share with cities around the world: making it easier to live without owning a personal car. Achieving that goal ultimately means improving urban life by reducing congestion, pollution and the need for parking spaces.

Its core principles are:

These elements give us a first glance at Uber’s long-term direction.

Uber value proposition

Uber’s value proposition was born on the need to make up for the scarcity of cab drivers and the inefficiencies of urban mobility.

Therefore, Uber attracts two key players:

And riders.

Let’s start with Uber’s first side of the marketplace, its drivers.

In a series of posts from Uber’s blog entitled “Why I drive,” several drivers explain why they do it. For instance, Susan explains:

It’s fun. It’s flexible. And it’s profitable!

Kevin instead explains:

I enjoy the flexibility it offers to me the ability to work whenever and however often you want

Calvin explains:

I love the freedom I have to work when I can, and make as much or as little as I need. Meeting different people everyday makes this more enjoyable. It’s the best business opportunity I have ever had. Thank you, Uber!

Thus, even though several drivers find different reasons to drive with Uber, there is a common thread which is a part-time “job” that provides supplemental income and flexibility to work any time without a boss.

While this value proposition seems compelling, as pointed out by earnest.com , about 84% of Uber drivers make anywhere between $0-499 per month, while only 2% make anywhere between $1500-1999 per month.

The ability to generate enough revenues for drivers to get back is a crucial ingredient to Uber’s success.

This is also why Uber tries hard to get drivers constantly. This need for drivers also fueled other business models , like HyreCar.

On the other hand, when it comes to riders, Uber offers a few key elements that make up a unique value proposition that apply to most of them.

First, as urban dwellers have kept growing, the cost of ownership of a car has become higher and too expensive to bear.

In this respect, giving up car ownership has become a no-brainer in urban areas. This makes ride-sharing convenient.

Second, Uber and other apps like Lyft make it extremely easy to go anywhere with the least friction, thanks to their gamified marketplaces.

Another critical element for riders is safety. For instance, Uber now performs background checks on its drivers that comprise “ felonies, violent crimes, sexual offenses, and registered sex offender status, among other types of criminal records ” which automatically disqualify drivers from the platform.

Uber’s liquidity network effects

A two-sided marketplace has to have built-in mechanisms that allow network effects to pick up. This means that for each additional driver or rider joining the platform, it becomes better and better for the others joining next.

In Uber’s case, more drivers and riders have meant better pickup times, lower prices, better reviews of drivers, and increased revenues for the marketplace.

Uber tapped into inefficiencies created by misallocating supply and demand within the taxicab industry.

The more efficiencies Uber gains, the more appealing it becomes and the more revenues it grows.

Thus, Uber leverages the Liquidity Network Effects that aim at growing and broadening the network so that the company can capture higher margins in the long run.

Uber expanded market opportunities

Another key element is market expansion. Any successful two-sided marketplace will be able, at a particular stage, to expand market opportunities.

For Uber, in particular, the company taps into a few specific needs:

When those needs are combined with a technological marketplace, it also generates several markets that before didn’t exist.

For instance, since Uber’s inception, a new need for cars for rent to make additional income over the platform has sparked new businesses.

Uber revenue model and pricing models

Uber makes money via a service fee that drivers pay. This service fee varies from trip to trip, representing the difference between what riders pay and what drivers earn once removed tips, tolls, and fees.

Uber covers several segments by offering different vehicles, with services like:

Uber Black.

Uber is also betting on other segments, such as:

Uber fees (take rates) range from 20% to 25% of the total amount the riders charges.

However, when it comes to taking rates we should distinguish between mobility (ride-sharing) and delivery (Uber Eats).

When it comes to ride-sharing, thanks to Uber’s much stronger market position, which dominates it, its take rates are higher. Indeed, in Q3 2022, take rates for Uber ride-sharing were 27.9%.

Instead, in the delivery segment, where Uber Eats got to compete for market share consolidations, take rates are slightly lower.

In Q2 2022, the take rate for Uber Eats was 20.2%.

Over time, as Uber Eats consolidates market shares, we can expect these take rates between mobility and delivery to balance out.

And potentially, in case the delivery business becomes larger than the mobility business, we might see even larger take rates for the delivery business.

The fares are calculated based on a few elements:

Among the pricing models used by Uber, there are:

Those strategies have several aims. With surge pricing, for instance, Uber can calibrate the demand and offering of rides to allow riders to pay more if they don’t want to way for a driver.

And at the same time, drivers can earn more if willing to move to “hot areas” when there is a surge in pricing.

With upfront pricing instead, the company shows the cost of a ride in advance .

As pointed out by Uber, riders feel confident taking trips when they have the information to make better decisions and drivers get more opportunities to earn.

Roud-pricing allows price adjustments on a route designed to expand access by making trips more affordable.

Uber dynamic pricing and surge pricing

Uber has used a particular kind of dynamic pricing called surge pricing.

This strategy has allowed Uber to match the demand and supply of rides and steadily repopulate its driver population, which has high churn rates.

It also works as a stimulus for drivers willing to make more money to move in certain areas.

For instance, in a classic case of surge pricing, Uber signals to drivers what area is experiencing them. So that drivers can go to that area and earn more.

Uber explains :

When prices are surging, you’ll see a multiplier to the standard rates on the map. For example, you might see surge at 1.8x or 2.5x. This is how much your base fare will be multiplied by, so a fare that is usually $10 would be $18 when it’s at 1.8x Surge. Uber’s fee percentage does not change during surge pricing.

At a visual level, users can recognize surge areas based on the map’s change of color in specific neighborhoods.

Where areas that will go from orange to dark red going from standard pricing to multipliers:

Source: uber.com

How does Uber make money? Breaking down Uber’s revenue model The key operational metrics that Uber tracks are:

Uber’s agent revenue model

In generating revenues, Uber follows an agent model, where revenues come from fees paid by Drivers and Restaurants for the use of its platform.

The reason why Uber defines itself as an agent it’s because the platform does not provide the final service to customers, but “it arranges for other parties to provide the service to the end-user.”

As a classic platform business model , Uber connects consumers to drivers. And restaurants to consumers (Uber Eats).

In 2019, Uber made over $14 billion as an agent enabling rides and deliveries on its platform. And it lost over $8 billion from its operations.

The company acts as an agent in the transactions that happen through Uber.

Indeed, it connects the end-user with the proper ride-sharing or delivery service provision. As such, Uber makes money from three key areas:

The core platform revenues

Other bets revenues

How will Uber make money in the future?

For the future, Uber is betting on a few potential revenue streams:

In July 2018, Lime, a company whose mission is to “ help people move around their cities affordably and conveniently while eliminating their carbon footprint,” announced a Series C financing round of $335 million led by Alphabet’s Google Ventures, which also involved Uber.

Interviewed on the deal Rachel Holt, Uber’s head of new modalities, specified, “ Our investment and partnership in Lime is another step towards our vision of becoming a one-stop-shop for all your transportation needs. “

As part of a plan to cover all the possible transportation needs of people in the future, Uber acquired the dockless bike startup Jump in April 2018, which aligns with the vision of becoming the top urban mobility platform globally.

As specified on Uber’s blog:

we’re committed to bringing together multiple modes of transportation within the Uber app—so that you can choose the fastest or most affordable way to get where you’re going, whether that’s in an Uber, on a bike, on the subway, or more.

Among other visions, Uber also aims at “bringing safe, reliable self-driving transportation to everyone, everywhere.”

This is a bold claim, yet it would help Uber fix in one shot a critical element: automate rides and get rid of drivers.

Indeed, with its high-churn rate and difficulty in keeping up with supply and demand, self-driving might make the Uber business model way more sustainable.

Breaking down the Uber Eats business model

Uber Eats is a three-sided marketplace connecting a driver, a restaurant owner, and a customer with the Uber Eats platform at the center.

Uber Eats has become a key segment within Uber.

Indeed, Uber naturally positioned itself to solve the last-mile delivery problem and used its existing network and platform to launch Uber Eats, which gained traction quickly.

The three-sided marketplace moves around three players: Restaurants pay commission on the orders to Uber Eats; Customers pay small delivery charges and, at times, cancellation fees; Drivers earn through making reliable deliveries on time.

Uber Eats as a three-sided marketplace it connects three key players:

With the Uber Eats platform at the center, the three-sided marketplace leverages the existing Uber platform to allow eaters to take advantage of the existing Uber infrastructure:

Source: Uber Engineering Blog

This model is very smart as it allowed Uber to enter another industry by leveraging its existing infrastructure, network effects , and community.

As noted in Uber Eats Business Model , the unit economics work in this way:

Last-mile problems and delivery wars

Uber Eats, thanks to the shared network effects of its mother company, Uber, managed to grow quickly in the US market, and according to some estimates it reached over 22% market shares of Meal Delivery by May 2020 .

That brought Uber Eats head to head-with GrubHub . And in trajectory to reach the largest player, DoorDash . Thus, Uber attempted to overtake the US market by acquiring GrubHub.

Potentially the two players would have become the largest US player in the last-mile delivery food space (this raised some Antitrust concerns).

However, to Uber’s surprise, GrubHub closed a $7.3 billion-dollar deal with Just Eat to create the largest delivery firm outside China.

While this failed attempt might sound as a defeat, Uber Eats remain among the most interesting parts of the business, with an incredible growth potential.

And in July 2020, Uber agreed to buy Postmates (with an 8% market share in the US for meal delivery). With an all-stock transaction of $2.65 billion, Uber will further convert its business model to push toward consolidation in the meal delivery market.

Where Uber’s core business, in ride-sharing, has been suffering due to the pandemic. The same pandemic has created the perfect condition for the meal delivery service Uber Eats to thrive and grow.

Thus, now Uber is a three-headed company comprised of mobility, delivery, and freight!

What about Lyft?

While Lyft has been a strong competitor for Uber, over the years, the company has primarily stayed in the mobility space, where Uber has expanded to other areas.

From here, a massive divide between Uber and Lyft was created as an effect of the ability of Uber to expand its network effects beyond mobility.

Visual Stories Connected To Uber

Uber Revenue

Is Uber Profitable?

Uber Eats Revenue

Is Uber Eats Profitable?

Uber Freight

Uber Revenue Breakdown

Uber Advertising

Food Delivery Business Models

Instacart Business Model

Grubhub Business Model

Shipt Business Model

More Resources

How Does Facebook [Meta] Make Money? Facebook Business Model Analysis 2022

About The Author

Gennaro Cuofano

How We Work

We are digital technology and innovation partners transforming businesses across globe through our services and solutions.

We like sharing knowledge, insights about digital technology and businesses

Our prebuilt solutions improve productivity, streamlines workflow, achieves higher ROI and reduces cost.

Logistics & transportation

Retail & e-commerce.

Drive innovation and disruption in your industry and explore opportunities with new business & operational models, digital trends, and technologies

Get In Touch

Resources / --> Return to Blog list

Uber business model explained: from start to finish.

By Nitin Lahoti In Blog Posted January 2, 2019

What Is Uber’s Business Model? How Uber Works? How Does Uber Make Money? What Is Uber’s Business Strategy? Why Is Uber so Successful?

These are some of the major questions any budding entrepreneur in the on-demand startup space would be curious about, before working on his/her own “Uber for X” business model.

And, rightly so.

Uber’s business model has turned out to be so successful and popular that it has fuelled a new startup economy, the “on-demand economy”.

Having a deeper understanding of Uber’s on-demand business model can play a pivotal role in modeling your own on-demand startup business idea.

As a leading on-demand startup technology development partner, we want to share this knowledge with you through this comprehensive blog post.

Uber Basics – Facts, Figures, Founders & Fundings

Before drilling down into “Uber’s business model” or “How Uber makes money?”, let us gain knowledge about some basics and interesting facts about Uber – from inception to being a multi-billion dollar startup.

Some Trivia

Did you know that Uber was initially called as UberCab?

Originally, the app only had the option to hail a black luxury car.

Founders – Garrett Camp, Oscar Salazar, Travis Kalanick

Founding Year – March 2009

Headquarters – San Francisco Bay Area, U.S.A

Legal Name – Uber Technologies Inc. (Crunchbase)

Total Funding – $24.2B (In 22 funding rounds as of Oct 2018, Crunchbase )

Major Investors – SoftBank Vision Fund, Tencent Holdings, Toyota Motor Corporation, and others.

Current Valuation – $120B (Source – Bloomberg )

Uber’s Business Model – How Uber Works?

Uber is no longer just the on-demand cab hailing service we used to know. It has dipped its toes into other territories as well – from Uber Eats (on-demand food delivery) to Uber Freight (on-demand trucking).

For the matter of simplicity, in this blog, we will focus on Uber’s core business of ridesharing – its business model and how it makes money?

To put it in simple words,

Uber works as a digital aggregator app platform, connecting passengers who need a ride from point A to point B with drivers that are willing to serve them.

“ Passengers ” generate the demand, “ Drivers ” supply the demand and “ Uber ” acts as the marketplace/facilitator to make this all happen seamlessly on a mobile platform.

Kool, right?

Through its model, Uber has been able to generate strong value propositions for both passengers and drivers to get onboard on its platform and create disruption in the taxi/cab industry.

Uber’s Value Proposition for Passengers

Uber’s Value Propositions for Drivers

Uber’s Business Model Canvas – A Visual Snapshot

Click to Enlarge Image

Digging Deep Into Uber’s Revenue Sources – How Uber Makes Money?

At a high level, Uber makes money by taking a cut on each ride (shared or individual) from the drivers. However, as we do a detailed analysis we will found that Uber’s revenue model is more complex than just trip commissions.

Trip Commissions

Uber provides the drivers on its platform (also called as partners) with a robust supply of ride requests to accept, fulfill, and make income. While making a booking, the passenger pays Uber for the ride through the app. Uber then transfers the payment to the partner’s account after taking some amount of commission for doing the job of a broker (digital broker if you want to say so).

The commission rates may vary from 15-30 % depending on the market.

Surge Pricing

Dynamic pricing/ surge pricing is a novel concept that has been popularized by Uber and being adopted in other verticals as well, such as food delivery.

Whenever there is a higher demand for cabs than what can be served at that moment (for example, at the airport after a flight lands), the fare goes up based on a surge price calculation algorithm.

Some drivers move to the surge region to earn extra (increases supply) and some passengers opt to wait to get a ride (reduces demand). This way Uber is able to manage the demand-supply mismatch situation better.

Drivers make more money, Uber makes more money and customers spend more money (but get urgent rides).

Premium Rides

Uber offers multiple ride options, from affordable hatchbacks to luxury sedans and SUVs. The profit margin for premium rides are much higher and helps Uber mint more money.

Cancellation Fee

If a passenger cancels a ride after a certain time-frame, say five minutes, he/she is charged a cancellation fee.

Leasing to Drivers

Uber runs a vehicle leasing program in many of its target countries to help new drivers get onboard faster. Drivers have to pay an upfront security deposit for the vehicle and payments are automatically deducted on a weekly basis from the driver’s earnings.

Brand Partnerships/Advertising

Uber is a very popular app with millions of active users. This makes it a good option for brands to do promotions. Its current app interface pushes a feed style layout for intuitive content consumption. Over the period, it may go on to become a strong revenue source by becoming a channel for sponsored content.

Expanding Rapidly With New Business Verticals

As mentioned earlier above, Uber is now much more than just a ridesharing company. It is leveraging it’s underlying technology for cab bookings, like, optimal driver allocation, to new use cases as well.

These new businesses that Uber is building side-by-side have tremendous potential to generate revenue and fuel Uber’s grand ambitions.

Uber is betting big on on-demand food delivery and why not. It’s a logical step for Uber to tap into this enormous market as it aligns with its ridesharing business and helps it utilize its large fleet of drivers. Uber Eats was launched as a separate app in 2016 and is growing in popularity at a rapid rate.

Uber Freight

Uber Freight is basically Uber for trucks. Uber launched its own on-demand trucking app in 2017 with the core idea of seamlessly matching shippers with carriers. If Uber can execute on its strategy to become the freight matching platform of choice, the revenue opportunities are also big.

Key Takeaways for Budding Entrepreneurs From Uber’s Business Model Analysis

Uber got a lot right in its journey towards becoming a pioneer in the on-demand industry today. It has seen its fair share of challenges over the period and been able to maneuver through most of them successfully.

It is a great testament of a tech startup that achieved success with a novel business model and smart execution.

Interesting Read: How to Build an App Like Uber?

Tech entrepreneurs and startups can learn a lot from studying Uber’s business case study. We have tried to make the job easy by putting down a list of key takeaways/ tips from analyzing Uber’s massive success.

Let’s check them out below.

Build Solutions for Real-world Problems

This is somewhat obvious but still needs to be mentioned first. You as an entrepreneur should identify real problems and figure out how technology can be leveraged to solve it, just like Uber used mobile technology to transform on-demand transportation.

Keep Innovating

Uber doesn’t rest on its laurels of being the first prominent rideshare app. Its founders understood really well that the competition will grow over time and they can only stay ahead through continuous product iterations. They keep adding new features to their passenger and driver apps, invest in new technologies and more.

Shoot for Scalability

Building a scalable business model is critical if you are to sustain your startup in the long run. Uber has built its platform in such a way that it is easy for it to expand to new markets and serve multiple users simultaneously with confidence.

Keep Overhead Costs Low

Run a lean business model that doesn’t require large infrastructural investments. Also, for building a tech startup, a skilled workforce is very crucial. This also adds up to your cost overheads in terms of high salary payments. One effective way to stay lean during the initial stages of your product development is by partnering with a third-party technology development company to build the MVP and overtime do in-house hiring.

Wrapping Up!!

The proliferation of the on-demand industry owes a lot to Uber and rightfully so. Uber’s success in many ways started a chain reaction with hundreds of on-demand/ Uber for “X” startups been launched after that and hopefully many more to come.

Specifically, in the on-demand transportation and logistics industry, the effect has been profound. We hope that our analysis of Uber’s business model will become a useful resource for upcoming on-demand startups.

Taxi app development by Mobisoft Infotech

Disclaimer : The information mentioned in this blog is based on the author’s own understanding of Uber’s business model. The facts and figures have been obtained from online research with appropriate credits given wherever required. Please use the information at your own discretion with no liability on the author or the firm.

Author's Bio

Nitin Lahoti is the Co-Founder and Director at Mobisoft Infotech . He has 15 years of experience in Design, Business Development and Startups. His expertise is in Product Ideation, UX/UI design, Startup consulting and mentoring. He prefers business readings and loves traveling.

Reach Out To Us

By submitting this form, you explicitly agree to Mobisoft Infotech Privacy Policy and Terms of Service .

I agree to the Privacy Policy

Please select the field.

Get our latest posts delivered right to your inbox.

I agree to the Privacy Policy

Mobile App Development Houston Usa

Hire Golang Developers India

Hire Uipath Developers

Get in touch for detailed discussion., accelerate your business growth with our digital solutions and services..

I agree to the Privacy Policy Please select the field.

Thank you for downloading our resource. Subscribe newsletters to stay updated with our resources.

Home » Business ideas » Transportation Industry » Taxi Business

How to Write an Uber Driver Business Plan [Sample Template]

Are you about starting an Uber driver management company? If YES, here is a complete sample Uber driver business plan template & FREE feasibility report. Since the emergence of Uber and other e – hailing taxi services business, quite a lot of business opportunities have sprung up in the niche and interestingly, one of such business opportunities is to run an independent business that manages drivers and fleet of cars under Uber.

You can decide to just recruit drivers for Uber and make available cars for them to ride, or you can serve as a middle – man between Uber and potential drivers. It is important to note that starting a standard Uber business with over a handful of cars and drivers also needs a significant investment capital, solid planning, and concentration to detail in order to keep your business profitable. You are also expected to have done your feasibility studies and market survey before committing your capital in the business.

A Sample Uber Driver Business Plan Template

1. industry overview.

Uber driver services companies are known as taxi e-hailing software app services company and the business is under the taxi e-hailing software app services industry. A taxi e-hailing software app company provides comfortable and private transportation via automobiles for passengers. This taxi service is not operated on regular schedules or routes like the usual buses or car that usually pick several passengers along the road.

Uber Technologies Inc. is an American multinational transportation network company (TNC) offering services that include peer-to-peer ridesharing, ride service hailing, food delivery , and a bicycle-sharing system. The company is based in San Francisco and has operations in 785 metropolitan areas worldwide. Its platforms can be accessed via its websites and mobile apps.

A recent statistic released in 2019 shows that Uber is estimated to have 110 million worldwide users, a 69.0 percent market share in the united states for passenger transport, and a 25 percent market share for food delivery. Uber has been so prominent in the sharing economy that the changes in industries as a result of it have been referred to as uberisation, and many startups have described their products as “Uber for X”.

A good percentage of Uber drivers use their own cars even though drivers can rent or lease a car to drive with Uber. Uber offers car rental or leasing via Getaround, Hertz, and Fair, and Uber and BYD Auto have a partnership to provide leasing of electric cars to Uber drivers in Chicago and New York City.

In order to qualify as a driver under Uber, you must meet some basic requirements for age, health, car age and type, have a driver’s license and a smartphone or tablet, and must pass a background check. In many cities, vehicles used by Uber drivers must pass annual safety inspections and/or must have an Uber emblem posted in the passenger window. Some cities also require Uber drivers to have a business license.

Uber drivers are considered independent contractors and not employees, though this has been the subject of lawsuits in several jurisdictions. Before drivers accept a ride, the app tells them if the ride will take more than 45 minutes. Uber has invested significantly in mapping technology. The Uber driver app includes accommodations for hearing-impaired drivers.

Drivers in the United States who open a checking account at GoBank by Green Dot receive a debit card that provides cash back for purchases at Exxon, Walmart, Sprint, Jiffy Lube, and Advance Auto Parts. To verify identity and prevent drivers’ accounts from being compromised, a mechanism called “Real-Time ID Check” requires some drivers to occasionally take selfies when logging on to Uber.

The bottom line is that Uber is open to partnership with an independent company that can help them extend their market – share in the taxi e-hailing software app industry and you can leverage on this to start your own Uber taxi driver business in the United States of America.

2. Executive Summary

Alpha Plus® Uber Drivers, Inc. is a licensed and registered taxi e – hailing software app company that intends to manage drivers under Uber. We will be based in Miami Beach, Florida – United States of America and we will have active presence in other cities like Green acres City, Miami, Jacksonville, Clearwater, Tampa, Fort Lauderdale, North Miami, West Palm Beach, Palm Harbor, Deltona, Orlando, Palm Bay and Panama City et al.

We chose to operate in these cities because we know that our services will be in high demand due to the demographic composition of Florida. We are well trained and equipped with some of the finest taxi cab drivers and comfortable cars to service our clients irrespective of their social and financial status.

Our services will involve managing professional drivers and fleet of cars under Uber. Our aim is to offer only the above stated services, but we will not close our doors to diversification (additional services) as long as it does not affect our core services.

At Alpha Plus® Uber Drivers, Inc. we are passionate in the pursuit of excellence and financial success with uncompromising services and integrity which is why we have decided to start our own Uber driver service business. We are quite optimistic that our values and quality of service offering will help us drive Alpha Plus® Uber Drivers, Inc. to enviable heights.

We will be dedicated to establishing good business relationships with our clients giving them value for their money and reasons for them to hire our services over and over again. We are quite aware that in order to become the number one choice in our city, we must continue to deliver quality and highly reliable services.

We are open to the use of latest technology in the taxi e-hailing software app services line of business. No doubt our excellent customer service and the quality of services we offer will position us to always welcome repeated customers.

Our client’s best interest will always come first, and everything we do will be guided by our values and professional ethics. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely.

Alpha Plus® Uber Drivers, Inc. is owned and managed by Wilson Garry and his friend and business partner Allen Rooney. They both graduated from University of California and are equipped with the required qualifications and experience to grow Alpha Plus® Uber Drivers, Inc. to favorable compete with leaders in the Taxi e-hailing software app services industry.

3. Our Products and Services

Alpha Plus® Uber Drivers, Inc. is a standard Uber driver company that is positioned to make profit and favorable compete with leaders in the industry and we are going to do all that is permitted by the law of the United States of America to achieve our business aims and ambition. Our services offerings are listed below;

4. Our Mission and Vision Statement

Our Business Structure

We are quite aware that the success of any business lies in the foundation on which the business is built on, which is why we have decided to build our taxi e-hailing software app company on the right business foundation.

As a matter of fact, we are set to build an Uber driver services company that will be the standard for the industry in the United States of America. We want to build a dedicated workforce that will ensure that our customers and partners are satisfied and they get value for their money.

We aware that it takes a business with the right employees and structures to achieve all what we have set to achieve, which is why we will be putting structures and processes in place that will help us deliver excellent services and run the business on auto pilot.

With the wide range of our service offerings, we are expected to employ more than it is required to run a conventional Uber driver business. Definitely, we will have various employees (full – time and contract staff) to man the various service offerings of Alpha Plus® Uber Drivers, Inc.

Alpha Plus® Uber Drivers, Inc. will employ professionals and highly skilled people to occupy the following position;

Chief Executive Officer

IT Specialist

Admin and HR Manager

Marketing and Sales Executive

Professional Drivers

Customer Care Executive / Front Desk Officer

5. Job Roles and Responsibilities

Chief Executive Office:

Client Service Executive/Front Desk Officer

6. SWOT Analysis

Taxi e-hailing software app business cum Uber driver business is one of the many businesses that can easily generate sales with little stress. We are building a standard Uber driver business with plans to sell our franchise all across the United States of America and Canada which is why we have decided to subject our business idea (company) to SWOT Analysis.

Ordinarily we can successfully run a normal Uber services business without the stress of writing a detailed business plan, but because we intend becoming one of the leaders in the line of business we want to establish, we don’t have any option other than to follow due process.

We hired the services of Lardon Maxwell, an expert HR and Business consultant with bias in disruptive startups to help us conduct SWOT analysis for our company and she did a pretty job for us. Here is a of the result we got from the SWOT analysis that was conducted on behalf of Alpha Plus® Uber Drivers, Inc.;

The strategic locations we intend covering, the Business model we will be operating on, access to a pool of willing partners, ease of payment, wide range of highly reliable and comfortable cars, highly trained and courteous drivers and of course our excellent customer service culture will definitely count as a strong strength for Alpha Plus® Uber Drivers, Inc.

A major weakness that may count against us is the fact that for now, we don’t have the financial capacity and business structure to compete with Uber hence the need for us to work with them as an independent partner.

Opportunities:

The fact that we are launching out in the heart of Miami – Florida, provides us with unlimited opportunities to market our services to a large number of professional drivers, business partners, corporate organizations, travel and tours agencies, hotels, government organizations, households et al.

We have been able to conduct thorough feasibility studies and market survey and we know what our potential clients will be looking for when they patronize our services; we are well positioned to take on the opportunities that will come our way.

A major threat that we are going to be confronted with is that as an independent business whose services is dependent on Uber, we might not have a say on how they run their business and they may decide to release policies that may adversely affect our business.

7. MARKET ANALYSIS

Market Trends

The market for luxury services such as taxi and limousine services is driven by the growth of the economy and the increase in consumer spending – in essence, as the general economy of a country grows, more people will have enough financial resources to patronize luxury services such as making use of taxi cum Uber as against making use of public buses, and trains et al.

Besides, revenue generated by an Uber services company is driven by business and leisure travel. No doubt, the profitability of operators in this industry depends on good marketing and networking. Small taxi cab companies can effectively compete with large ones because there are few economies of scale in this line of business.

Research shows that the taxi cab and limousine services industry in the US is fragmented: the top 50 companies account for less than 35 percent of the total revenue generated in the industry.

Lastly, technology has indeed played a major role in this industry; especially in cutting cost and enforcing safety and monitoring measures. GPS car tracking device readily comes to mind. There is hardly any Uber services company that does not have GPS car tracker installed on all their cabs. It helps them in monitoring their fleets, drivers and also in planning and budgeting.

8. Our Target Market

Before choosing a location to launch our Uber services company, we conducted our feasibility studies and market survey and we were able to identify those who will benefit greatly from our service. Those who will benefit from our service offering are grouped into three and they are;

Our competitive advantage

Taxi cab and limousine services business is an easy to set up business especially if you have the finance to acquire comfortable cars, attract drivers and the ability to run and manage a business. It means that the possibility of Uber driver businesses springing up where our company is located is high. We are aware of this that is why we decided to come up with a business concept that will position us to become the leader in Miami – Florida.

We can confidently say that the strategic locations we intend covering, the Business model we will be operating on, access to pool of partners and investors, ease of payment, wide range of highly reliable and comfortable cars, highly trained and courteous drivers and of course our excellent customer service culture will definitely serve as competitive advantage for Alpha Plus® Uber Drivers, Inc.

For the time being, Alpha Plus® Uber Drivers, Inc. has no real competitors that can compete with the quality of services we offer. Our customer service will be customized to meet the needs of all our customers.

Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category (startups Uber services businesses in the United States) in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.

9. SALES AND MARKETING STRATEGY

Sources of Income

Alpha Plus® Uber Drivers, Inc. is established with the aim of maximizing profits in the industry and we are going to ensure that we do all it takes to attract clients on a regular basis. We will ensure that we leverage on our strength and the opportunities available to us in the U.S. market to generate enough income that will help us drive the business to stability.

We will explore every available sources of income in the taxi e-hailing software apps industry. Below are the sources we intend exploring to generate income for Alpha Plus® Uber Drivers, Inc.;

10. Sales Forecast

One thing is certain, there would always be investors and drivers who would need the services of Uber companies. We are well positioned to take on the available market in Miami – Florida and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six months of operation and grow our Uber driver business and our clientele base.

We have been able to examine the taxi e-hailing services software apps market, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. Below are the sales projections for Alpha Plus® Uber Drivers, Inc. it is based on the location of our business and of course the wide range of related services that we will be offering;

N.B : This projection was done based on what is obtainable in the taxi e-hailing software apps industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering the same services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

Marketing Strategy and Sales Strategy

The marketing strategy for Alpha Plus® Uber Drivers, Inc. is going to be driven by good returns on investment (ROI) for our partners, excellent customer service, honesty and quality service delivery. We will ensure that we build a loyal customer base.

We want to drive sales via the output of our jobs and via referral from our satisfied customers. We are quite aware of how satisfied customers and investors drive business growth especially businesses like Uber driver services. Alpha Plus® Uber Drivers, Inc. is strategically located and we are going to maximize the opportunities that are available which is why we spent more to locate the business in a location that will be visible to our target market.

Our sales and marketing team will be recruited based on their experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of Alpha Plus® Uber Drivers, Inc.

Our goal is to grow Alpha Plus® Uber Drivers, Inc. to become the leading Uber driver company in Miami – Florida which is why we have mapped out strategies that will help us take advantage of the available market and grow to become a major force to reckon with in the taxi e-hailing software apps industry. Alpha Plus® Uber Drivers, Inc. is set to make use of the following marketing and sales strategies to attract clients;

11. Publicity and Advertising Strategy

Alpha Plus® Uber Drivers, Inc. is set to establish a standard for Uber businesses in Miami – Florida and throughout the United States which is why we will adopt and apply best practices to promote our business. Good enough, there is no hard and fast rule on how to advertise or promote an Uber driver services business.

The challenge is that most startup companies do not have the required money to pump into publicity and advertising. Here are the platforms we intend leveraging on to promote and advertise Alpha Plus® Uber Drivers, Inc.;

12. Our Pricing Strategy

Firstly, we don’t have the capacity to determine the price for this business since we are an independent partner with Uber; they are in the position to determine the price and the commission to pay per trip.

Secondly, since we will be managing a fleet of cars under Uber, we will ensure that we abide by the standard price range as regards leasing of cars over a period of time for our drivers who chose the lease option. For those who just want to drive under our scheme, we will pay them 40 percent of the earnings the car generates per day.

Payment Options

The payment policy adopted by Alpha Plus® Uber Drivers, Inc. is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Alpha Plus® Uber Drivers, Inc. will make available to her clients and partners;

In view of the above, we have chosen banking platforms that will enable our clients and partners make payment without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients and partners who may want to deposit cash or make online transfer for our services.

13. Startup Expenditure (Budget)

From our market survey and feasibility studies, we have been able to come up with a detailed budget of establishing a standard Uber driver services company in Miami – Florida. These are the key areas where we will spend our startup capital on;

We would need an estimate of $750,000 to successfully launch our Uber driver business in Miami – Florida.

Generating Funds/Startup Capital for Alpha Plus® Uber Drivers, Inc.

Alpha Plus® Uber Drivers, Inc. is a business that will be owned and managed by Wilson Garry and his friend and business partner Allen Rooney. They are the initial financiers of the business which is why they decided to restrict the sourcing of the startup capital for the business to just three major sources.

These are the areas we intend generating our startup capital;

N.B: We have been able to generate about $200,000 (Personal savings $150,000 and soft loan from family members $50,000) and we are at the final stages of obtaining a loan facility of $550,000 from the bank. All the papers and documents have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

14. Sustainability and Expansion Strategy

One of our major goals of starting Alpha Plus® Uber Drivers, Inc. is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to offer give our drivers and partners more than they can get elsewhere in terms of earnings and return on investment (ROI).

We are well prepared to survive on a low-level profit margin for a short period of time. Alpha Plus® Uber Drivers, Inc. will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of ten years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List/Milestone

Browser not supported

This probably isn't the experience you were expecting. Internet Explorer isn't supported on Uber.com. Try switching to a different browser to view our site.

A platform that was built to move

Transform the way your company moves and feeds its people with Uber for Business.

A single platform for employee and customer needs

Business travel

With just a tap, your team can request a ride in over 70 countries around the world. We make it easy to set permissions and track spending.

Meal delivery

Let employees and customers order from over 780,000 restaurants, while you control budgets and policies.

Commute programs

Help your employees get to work by subsidizing rides to and from the office. We’ve launched new safety standards, and it’s easy to set limits on location, time of day, and budget.

Customer rides

Distribute vouchers to help customers and guests get where they need to go. Or request rides for them from the Central dashboard.

Local delivery

Request on-demand, local deliveries for you and your customers with Uber. It’s as easy and fast as requesting a ride.

Customer acquisition

Vouchers is a great promotional tool to help drive foot traffic to your store. It can also be used to show customer appreciation.

See how the Uber for Business platform works

Tools that keep you in control, plan and send rides with central.

Use the Central dashboard to request rides for customers and guests even if they don't have a smartphone.

Cover rides and meals with Vouchers

Reach new customers and improve employee morale with vouchers they can use to get meals and go places.

Create programs in our dashboard

Invite your team to join customized business travel, meal, and commute programs by linking them to your business account.

Meet the businesses growing with our platform

Ryder has requested more than 100,000 rides for customers by integrating with Uber’s API, enabling the company to better allocate staff time and resources.

The Golden State Warriors teamed up with Uber for Business to find innovative ways to elevate the fan experience at the Chase Center.

Twenty Four Seven Hotels leveraged Uber for Business to request rides instead of using their traditional shuttle service and made a lasting impression with their guests.

Advanced features to save you time and money

Customize your programs.

Set ride and meal limits based on day, time, location, and budget. You can also let your team charge to a single company account or their own personal cards.

Automate expensing

We integrate with leading expense software providers like SAP Concur so expenditures can be automatically processed. No more employees hunting down receipts.

Get deep insights

We give you unparalleled visibility into your team’s spending and usage, so you can fine-tune your program and improve your bottom line.

Your business is going places. We’re here to help.

How it works.

The platform

Transform how your company moves and feeds your people.

You pay our standard rates with no service fees

Your health and safety are our top priorities.

Sustainability

Get company-wide climate metrics and low-emission rides.

Products and features

The dashboard

Manage your programs and generate useful insights.

Request rides on behalf of your customers.

Cover the cost of customer rides and meals.

Send and receive local deliveries in an instant.

Purchase Uber gift cards in bulk.

Uber Health

Request rides and deliveries on behalf of patients and caregivers.

Rider benefits

Simplify expensing and help employees earn rewards.

Expense integrations

Save time with automatic expense reconciliation.

Maximize your employee benefits.

Improve the ways your business moves people.

Simplify rides and meals in cities worldwide

Offer your employees an easy, stress-free commute.

Courtesy rides

Request rides for customers and guests with ease.

Event transport

Get attendees to and from your next event.

Employee shuttles

Request rides for a large group of employees with our shuttle solutions.

Corporate gifting

Delights employees and customers with meal delivery.

Individual meals

Let your people order local favorites from their phone.

Group meals

Order lunch for the whole team and maximize productivity.

Request local, on-demand deliveries.

Item delivery

API integration

Integrate with our API to streamline deliveries.

Industries and teams

Elevate customer service with on-demand rides.

Hospitality

Delight your guests with rides and meals.

Real estate

Attract and retain tenants with turnkey amenities.

Consulting and financial

Keep your employees moving and your clients happy.

Offer rides and meals to employees and constituents.

Human resources

Offer ride and meal benefits everyone will love.

Make work trips easier for your team.

Sales and marketing

Help drive demand and increase engagement with Vouchers.

Request rides and meals for physical or virtual events.

Help improve your facility's safety and efficiency.

Executive assistants

Request rides and meals for execs.

Office managers

Take care of the office with commute and lunch options.

Procurement

Control costs and simplify your procurement process.

Get the latest news from Uber for business.

Customer stories

See how innovative companies work with us.

Learning center

Find helpful resources, tips, and more

Uber Business Model & Statistics [A Complete Uber Business Strategy]

The Uber business model is considered among the best business strategies running in the world at present. That is the sole reason why Uber’s revenue model has become a multi-stream entity with double-digit billion-dollar earning in a single year.

But every billion-dollar business enterprise started somewhere small and gradually grew from there. Uber is the poster child example of this American dream, and the Uber business plan the source of its victory.

The credit to this company’s success goes to the impeccable Uber financial model and business strategy. If you don’t believe me, I’ll be presenting a lot of relevant Uber statistics all through the blog to support my claims about the robust Uber business model.

But, before learning about the Uber business strategies and financial model, you need a little crash course on the history of Uber.

Uber Company Portfolio & Statistics:

Why Uber Business Model is Considered Best in the World?

Uber’s year after year revenue is proof itself showing that their business strategy is among the best ones in the world, but let’s study Uber strategy and planning in more detail.

There would be several questions in your mind like:

We’ll be answering all these questions and a few more in this blog about Uber Business Model Canvas & Strategies. Uber started as a simple concept and a single question: What if you could request a ride from your phone?

What began as a simple thought quickly escalated into a global passenger transport brand and leading two sided marketplace that helps people move towards opportunities.

Uber Business Model Canvas

Every business is unique, so you can’t compare a business strategy of McDonald’s to the Uber growth strategy. But, learning how such a complex company with hundreds of independent sections, work is a humongous task in itself.

But, I have the perfect method to do so. With a business model canvas, you can learn about any company’s goals, intent, and Uber business plans for the future, however big or small.

So, here’s the Uber Business Model Canvas that will give you a quick glimpseon how Uber works and its business strategy that will help you to start a similar taxi business.

Now that you have taken a good look at the Uber business plan, i.e. BMC (Business Model Canvas) of Uber; let me elaborate more on how Uber works, or precisely how Uber begins and spreads its reach in new cities.

Uber’s Customer Segments

As you saw in the canvas, the user segment of Uber are:

So, unlike other on-demand businesses where the companies cater to a limited customer base, Uber has the benefit of providing a large array of transport services to its passengers. Uber offers services like UberX, UberXL, UberPOOL, UberBLACK, UberSUV, and much more for the various types of customers they serve.

We’ll be talking about all these different ride service categories further in the blog. For now, let’s learn more in detail about the Uber taxi business model and how uber makes money from it.

Uber’s Value Proposition

If you do not understand the technical mumbo jumbo of the business world, you must be thinking, What in the name of dear Henry Ford is a value proposition?

Let me explain in plain English, just as Shakespeare would have intended. Value Propositions is the benefit that your stakeholders (passengers and drivers) will get from your company/service. So, here are the value proposition that Uber offers its customers and drivers.

Uber’s Value Proposition for Customers:

Uber’s Value Proposition for Drivers:

Starting a Taxi Business in a New City

Uber faces the same chicken and egg challenge whenever entering a new city, a new marketplace.

Although Uber serves the most professional cab services, it can still face difficulty in getting the right momentum for new city operations. To overcome this recurring problem, Uber created a systematic process of entering a new city and reaching to its people.

Uber did a few tie-ups with various corporates, in the beginning, corporates that have a large staff of employees. This way, whenever it launches its services in a new city or country, it has booked a regular customer base that will cover the running costs until Uber reaches to the common public of the location. For instance, if you’re planning to start a taxi app in Kenya , then the first move towards the common public to achieve your goal.

As mentioned earlier, this is the solution for the chicken and egg problem in the business. Just like the classic riddle, whether the chicken came first or the egg, in business, there are two entities or factors co-dependent to each other, in this case, the driver and the passengers. So to enter this business, you have to bribe either the chicken or the egg, or both.

Uber bribed both by offering interesting discounts and referral points to the passengers, and high incentives and bonuses to the Uber drivers. Uber focuses on building the supply chain first and keep it flowing until the time the demand side to service increases. Uber’s initial target is to get enough drivers as contractors and secure a steady passenger base whenever it enters into a new city.

Uber’s various approaches and tactics in tackling the new city is the perfect lesson to new startups and entrepreneurs who are planning to start a similar business like Uber.

Uber’s Operating Costs [with Uber Statistics]

You need to understand one scientific principle, the larger the mass of an object, the more force it needs to move. In simple terms, Heavy objects are harder to move than light ones. In business terms, a larger company has to put in more work to advance than a smaller startup. This theory stands absolutely true for Uber. The best part is Uber made a perfect mobile app business plan whether it’s for operating costs or revenue generation.

Although Uber has a terrific plan to break the chicken and egg problem, it bleeds heavy money initially to capture the new market in a particular city. Despite handsome revenues in billions (soon to go in double-digit billions), the unicorn startup has recorded losses. The loss is due to the company’s focus on the expansion of market demand.

Uber requires millions in working capital for each city that it enters, in terms of operating costs and marketing.

We have mentioned the accurate Uber revenue statistics to give you a better perspective of the company’s spending.

How does Uber make money? (Uber Revenue Model)

Short Answer:- Uber makes money from the commissions earned from each of its rides. But Uber’s revenue model is not actually as simple as it sounds. You need to dig a little deeper to learn how this colossal business enterprise makes money.

Uber Revenue Model

There are several ways how Uber makes its humongous billions of dollar revenue, and we’ll be talking about each of those ways here. I know you’re looking at this section like a kid looking at a bar of snickers on Halloween. So, I won’t tease you more.

Uber’s Different Service Categories

Uber initially started to serve the elite class only, but moving forward, the company found out that this niche wasn’t paying enough. So, they gradually shifted gears towards the larger crowd and the bigger market of the working class in the US cities.

As time passed, Uber learned about the large difference in their passengers and their requirements. That’s when they decided to offer more niche services under their belt of services. Uber came up with different rideshare business plans based upon different car types and passenger needs such as UberX, UberXL, UberPOOL, UberBLACK, etc., each service with a different price range.

Predictive Demand Technology

What is the most pivotal piece of add-on technology that helps Google make billions in revenue? It’s predictive text (auto-suggest for the non-technical readers). When you start typing something on Google, and the search engine offers suggestions according to what you are typing. This way, you get easier search experience, and Google guides you to the results it intends to show you.

Uber started working on a similar tool, a predictive demand technology to figure out which area in a city has more demand at a particular time of the day, which routes get more ride requests, etc. With enough data, Uber can give a highly user-friendly experience and can further focus on such sophisticated analytic tools to be developed.

Bonus! How Our On-Demand App Development Services Can Help You!!

Uber’s Surge Pricing Mechanism

This surge price mechanism works on Uber’s predictive demand algorithm. So, further exploring these two pieces of innovation, Uber got its most promising stream of revenue. Surge price is simple; more the demand, higher the charge.

Uber is known to charge even 4x to 5x the normal charge for some routes, getting the company very negative feedback from its users.

But in favor of Uber, the company has to balance the demand and supply, both sides of the business. And, surge price is by far the most accurate solution for it. One can say that it is a necessary evil of the on-demand cab service that keeps the balance. Let me explain how.

Source:Four Week MBA

The larger scale of business like Uber comes with larger problems and the need to further micromanage its deepest origins. With more demand by the passenger, the drivers need to be further incentivized. So, Uber continually looks up to times when it can charge the surge price to the riders.

The surge pricing also encourages more drivers to come to the area where demand is high to ensure there are enough cabs available. So, ride requests don’t get piled up unattended. If you use Uber, you would know this happening frequently when coming to and from airports.

Cancellation Fee

If a passenger cancels a ride after a set time-frame, for instance, five minutes, he/she gets charged a cancellation fee. A good part of this fee is given to the driver who had to stay for the ride.

Leasing to Drivers

Uber began as the biggest online cab service that owned not a single car. But as time passed, they found an additional means of income by running a vehicle leasing program in many of its target countries to help new drivers get onboard faster. The drivers pay a security deposit upfront for the car, and the rental is deducted weekly from the driver’s earnings.

Pivoting with Different Verticals

Uber learned that expanding and pivoting their business to different directions could be very lucrative, and they took the chance. Here are the alternate services that Uber offers besides its passenger transport segment.

UberRUSH: is a motorcycle pickup service launched by Uber. It’s a package delivery service that delivers across all the big cities that Uber is operational in.

UberEATS: is the step Uber took towards on-demand food delivery vertical. UberEATS allows its users to order food and meals from participating restaurants. The restaurant does the cooking while the delivery is taken care of by Uber drivers.

UberBOAT: is available in all the big water-based cities and countries like Istanbul, Turkey, and Croatia. You must’ve already guessed that it’s a water-taxi service where users can book a boat or yacht ride to go to a select location.

UberCHOPPER: After conquering the land and sea, why would Uber leave out the sky? The company has recently come up with helicopter rides service in some select cities. Uber partnered with Airbus for trials of UberCopter.

UberFREIGHT: is basically Uber for trucks. Uber launched its own on-demand trucking service to try its luck in one of the most lucrative transport business. Guess what, the company’s gamble is paying out, and the revenue opportunities are also significant.

SEE ALSO: An Ultimate Transportation & Logistics Technology Solution

How will Uber make money in the future?

A few of its research are still under wraps, but the ones that we have managed to dig out show a recurring theme that the company is aiming for in the future. And for my money, I would say it is a very profitable and safe bet.

Uber’s Potential Future Revenue Streams:

Uber, just like several of the other biggest companies, is most concerned about the earth, and their business model for the future proves it. They are investing heavily in electric vehicles, pooling options, and vehicle sharing methods for the future.

Uber’s Decade long Journey 2009-2019

Uber has been in the game for 10 long years. From its humble beginnings in San Francisco, the company has come a long way. For a moment, forget about all the Uber statistics, Uber revenue, and Uber business strategy

Just look at the journey Uber has crossed in the last 10 years. This is a road map that many companies dream of achieving in their career.

See More: Marketplace Business Model

The Uber Ride Service. Simplified!

We all know how Uber works. Order a cab on your app, and it comes to pick you up, right? After reading so much about Uber, we know that certainly, it’s not that simple. There is a very sophisticated process that goes behind an Uber ride.

How Does an Uber Ride Work?

Here’s the 5 step process of an Uber ride.

Step 1: Requesting the Ride

The passenger books a ride by feeding in the pickup and drop point and requests for the ride.

Step 2: Driver Accepts the Request

The closest driver will receive the request that you sent, and s/he can accept or decline as per the availability.

Step 3: The Ride Begins

The driver accepts the request and comes to pick your up. You get in the car and get to the drop location with ease.

Step 4: The Payment Process

Once the cab reaches your assigned drop location, you can pay the driver via cards, cash, net banking, or in-app wallet.

Step 5: Rating the Ride

The final step of the ride is the passenger (you) rating the ride experience from 1 to 5 stars based on the driver’s behavior and vehicle comfort. Likewise, the driver will also rate the passenger.

So, that’s how an Uber ride is done, from start to finish.

Uber’s Ride Service Categories

Here are the various Uber subscription models that the passengers can choose from while booking a cab. All these ride models depend on the Uber car types that the passenger chose from for their ride.

Uber’s Economy Options

The economy service category are for the most common users who fall into the general passengers’ category for Uber.

The most standard ride option that Uber offers is UberX. You, along with up to three other users, can book your ride in a sedan for door-to-door service.

The UberXL ride model is similar to UberX, except that instead of a 4 sitter sedan you’ll be getting picked up in an SUV or van with the capacity of 6 sitters. So if there are more than 4 people with you, book an UberXL.

Uber Select

You can book an Uber select for upto 4 passengers and get a low-cost ride in a higher-end sedan or SUV with a highly-rated Uber driver. The prices on UberSelect are cheaper than Uber’s luxury category services. You can get a car anywhere from Kias and Hyundais to Audis and BMWs, depending on your luck and availability.

Uber’s Cost Effective Options

The cost-effective option, as the name suggests, is for the passengers who are looking for the best services that help them save money.

UberPOOL is the carpooling ride service that Uber offers for its users that are more concerned about saving money as well as the environment by sharing ride with other passengers with common drop locations. UberPOOL offers a door-to-door pickup and drop service where you can share the ride with upto 3 more passengers.

SEE Also: Know how to make a ridesharing app.

Express Pool

Express Pool is a new and cheapest ride option offered by Uber. The only difference with Express Pool is that it doesn’t offer a door-to-door service, but instead, the passenger has to get to the allocated common spots (heat spots) to catch the ride. With Express Pool, the app shows the common pickup point nearby to your location but doesn’t show you the dropoff points before you request a ride.

So, after reaching almost half of the way through a blog – did you felt like its a great idea to build an app like Uber for your startup? To the fact, these days it is quite easy to build an app with the help of a software development company. The best part is if you’re running out of budget, then you can opt for Uber app clone solution or an MVP product. Isn’t that interesting? Okay, back to the track again!

Uber’s Luxury Options

If you live for the finer things in life, then Uber’s luxury service category is where you should look for your cab.

Can you guess what sets UberXL apart from UberX? The type of car user is being picked up in. With UberSUV, its the same thing but for a different reason. Passengers are ready to pay a little extra to ride in a luxury SUV with a professional driver. Uber does a rigorous background check of the drivers and also inspect the car once a year.

UberBLACK is Uber’s answer to the town car services. Instead of a regular sedan, with UberBLACK, you’ll be picked up in a black luxury car and a professional driver. The service offers cars with premium features like all leather seats, partitions (in some car models), etc.

UberLUX can be called UberBLACK on steroids. It offers the ultimate luxury service with top of the line cars and the highest-rated drivers. This service is for the most elite customers of Uber for whom luxury and status is more important than money.

Uber’s User Assist Options

This service is for the Uber users that use wheelchairs or need any other kind of assistance.

UberWAV offers vehicles that are build or modified, especially to access motorized wheelchairs or scooters. With UberWAV, you can order a wheelchair-accessible ride for yourself or someone you know. The drivers offering service under the UberWAV category are certified in safely driving and assisting their target customers.

What’s So Special About Uber?

Uber has been through many ups and downs over the span of ten years, but the thing that has kept the company going strong are its mission and vision.

Uber’s Mission

Uber has shown and followed various taglines over the years. Here are a few of them:

If you can observe, there is a common theme going on with these titles; the company’s care for its passengers. Uber has always been firstly concerned about the experience that their passengers get, and the company has done more than someone can expect from a multi-billion company.

Uber’s Vision

The company has many times shown where its true dedication lies. There have been speculations in the past that Uber has served its customers amazingly, but only at the expense of their drivers. Uber took these comments as creative criticism and for the past couple of years, has shown equal care for its drivers.

Their latest FinTech-based product UberMONEY is a shining example where they have kept the Uber drivers their first priority. Among other visions, Uber also aims to make safe and reliable self-driving transportation a reality.

The Good, The Bad, The Competitors

If you love old western movies, you know that after all the talks and discussions, in the end, only three factors stand in the world of business.

THE GOOD done by the company, THE BAD done by the company, and THE COMPETITORS against the company. So, just like a Mexican standoff, let’s pit these three factors against each other for Uber.

What Did Uber Do Right?

Uber digitized the taxi industry.

Before Uber, people use to stand on the street side and wave their hand to signal a taxi. This tiresome process increased the wait time and inconvenience for everyone.

Uber introduced an app for the passengers to order the taxi from anywhere. Just feed in the pickup and drop location and get your taxi app without any hassle.

Uber Removed The Fear of Unfamiliarity

Uber noticed that people had a fear of unfamiliar drivers. Most of the people (especially the women) were not comfortable to ride with an unknown driver.

Uber came up with the idea for passengers to see the driver profile and status before hiring a cab. Through the Uber app, users can now see the driver’s profile, their past trips, and the ratings given to them by pst passengers.

Uber Brought Real-Time Notification

With the usual taxis, passengers are not able to get the real-time notifications of their rides. This lack of technology had people face several hurdles in their daily lives.

Uber came up with the app feature by which passengers get real-time location about their rides in terms of arrival and the cancellation of rides.

Uber Introduced Smart Route Suggestions

In all of the major cities, long waiting hours of a traffic jam is a common problem that people face. The reason is that drivers are not aware of the lesser congested routes at a given time.

The Uber app only provides one of the shortest routes with less traffic areas to Uber drivers making the rides shorter and smoother for the driver and the passengers.

Uber Launched Cashless Payment

In the past, users’ had to carry money in hand to book a cab. In many instances after the ride, the driver and passenger would be fighting due to lack of money or change.

Uber found this problem earlier and introduced the cashless payment system into its app for easier transactions for the passengers as well as the drivers.

What Did Uber Do Wrong?

Maintaing uber’s image.

Uber is a multi-billion dollar company spread across several countries, and for such a company, there are occasions when things can go wrong. In this digital age, a single angry customer can impact very negatively on the social image of the company with one tweet or post.

So, handling such a massive operation without a few hiccups is impossible. Still, Uber is doing good as compared to a few other brands. But, this is a daily fight which the company will have to face until the day it stops running.

Chicken & Egg Problem

Entering any new city is always tough for any company, however big or small. We’ve talked about this problem earlier in the blog and also the solution that Uber applied to it. But throwing a lot of money towards a problem is not actually a feasible solution. So, until Uber finds an actual solution to this problem, I would consider this as a drawback of the company.

Trust & Safety Issue

One issue that is a subset of the problem mentioned above is trust. If a consumer is already using one company’s product, then s/he would find it difficult to switch to another option. Simply said, a passenger that frequently goes with a local taxi will find it difficult to trust Uber and the hi-fi digital app solution that the company provides.

The solution for this is through marketing and advertisement. To create an image of the company that the passengers can trust more than the existing service provider, the local taxi service.

Who are Uber’s Main Competition?

Here is a pictorial depiction of the top Uber statistics compared against Uber alternatives .

Takeaways from Uber Business Model

Uber has seen all the highs and lows of the passenger transport industry and learned from each of them. That is the only reason why even after massive losses, Uber is trusted by investors and still going strong as an enterprise.

So here are a few takeaway points from the Uber business strategy and Business Model that we discussed today.

Keep Innovating like Uber

Uber doesn’t know how to hang its guns and rest, and that is the best feature of a world-class business enterprise. The company always keeps on innovating with their old products as well as new. Uber always wants to provide the best to its customers and partners.

This enthusiasm is the reason why Uber has been among the top companies in the world, and it is the prime reason why Uber can become the whole and sole transport business entity of the future. With its latest innovations in automated driving, electric vehicles, and several other smart transport innovations, Uber is all set for the future and still exploring.

Keep Overhead Costs to Minimum

When Uber began operations to the point when it got its international fame, the company didn’t own a single car and yet became the biggest on-demand taxi service in the world. Follow the same Uer business strategy and go for the less ownership model.

Scalability is the Holy Grail

We have always heard that a business should be scalable and to start the business from day one thinking about the scalability. But, how many companies actually stand true to this statement. I can say Uber sure does.

If you are thinking of starting your own taxi business, then building an app is the first and foremost thing to begin with.

How to Start an On-Demand Taxi App Business like Uber?

If you are still thinking about how to start your own uber like business, then let me give you a final tip. What do you think is the most important asset that Uber has? It’s not its drivers, it’s not Uber’s R&D team, and it’s not the top management team.

The answer to the question, “how to start a business like uber?” and the most important asset of the company is the same, its mobile app. The Uber app is the platform using which its two main stakeholders, its drivers, and passengers interact with the company.

So, if you wish to build your own Uber like company, you need to focus on first developing a world-class passenger and driver app for your on-demand taxi service startup. For that, you need a very reliable and skillful taxi mobile app design and app development company to be your technology partner.

Yet confused on any point? Get in touch with our experts . They will guide you with the best solution for your app like Uber.

If you have an idea to start an uber business, reach out to the app development company and discuss your business plan for Uber. To start any business you would need a mobile app. Get the right understanding of the business plan and strategy to get a grip on the Uber taxi business.

Ride-sharing business model is where two or more people share the same ride. Ride-sharing is a two-sided marketplace where the interface connects the drivers and the users at the same time. Uber’s business strategy is the best to adapt for any taxi business.

Start your market research and choose a niche. Next would be the business or revenue model you choose for your business. Go digital and create a mobile application that can help you manage the entire taxi business operations from one platform. Discuss your Uber business plan with the developers and they will do the rest.

Uber looks simple and easy like any other ride sharing business. But, its revenue model is different from theirs. It does not employ riders so it does not generate money through rides. However, the commission based model decides the certain % shared with the drivers. The Uber business plan brings more money than any other business.

Yes, the business plan for Uber is an on-demand cab aggregator model that operates on the smartphone to book a cab that calculates the estimated time to travel, and the fare. The agent revenue model generates money that comes from the commission paid by the drivers to use the platform.

Yes, Uber strategy and planning has always given profits to the business. Though there is no direct revenue, they follow a commission-based plan to earn profits from the drivers’ earnings. It depends on the driver’s location and hourly wages.

The right question should be what is the growth strategy of Uber? Well, the business strategy or plan of Uber itself is the growth plan to earn maximum profits. The value proposition is simple and has solved many transportation problems easily. Most importantly, the digitized world has taken over the huge plunge in the growth of Uber. Develop a mobile app like Uber and get started with earning profits.

We believe in turning ideas into impactful products.

Quick Connect

For StartUp

Featured Portfolio

Meet us at Dubai GITEX 2022

How to Write Ride-Hailing Business Plan

Table of Contents

Our Ride-Hailing Business Plan is based on an UBER-like business plan , Ride-hailing or taxi collection business is a smart way to generate money for start-ups and business people alike. UBER, despite being the biggest industry in the taxi business, is not holding a single car. Such great is the business idea wherein the business is run relying on a powerful online app platform. So, just by owning the software, one can effectively generate money through commissions without investing a bit in buying and maintaining cars.

UBER has penetrated all parts of the world, with over 2 million drivers and counting. Instead of owning a car and driving for UBER, one can easily buy an app package, start and run their own taxi business and be an entrepreneur. This may sound daunting, but there are lots of UBER-like clone mobile software and scripts available, some being ready-made and some tailor-made to the customer’s precise needs.

Making a Software for Ride-Hailing Business Plan

An UBER-like Business Plan to run will need Software as reliable as UBER itself. The market is full of Software claiming to be UBER clones. An online Taxi Business is almost entirely dependent on the Software to function more efficiently. So investing in the best Software itself will alleviate most of the problem. A ride-hailing software should manage payments, have proper GPS navigation, handle incoming requests, user rating, management and record commissions, record transactions, and driver details. Some UBER clone scripts promise even more features like airport ride management and support for future driverless cars.

Marketing Plan

Before getting a Uber-like ride-hailing business up and running, you will need to structure a financial plan that would work out profitable for your business and the car owners. First of all, you’ll have to decide on a device, the budgetary plan, and the monthly revenue target and work accordingly to achieve it.

With a good user base at hand, you can up-sell and cross-sell numerous products from partner service providers right through the ride-hailing app. You can promote the ride-hailing business by partnering with service providers like movie food delivery, coffee shops, booking, groceries, shopping sites, etc., who can promote your business through ads on their platforms. Email marketing and Mobile SMS is a cheaper way to reach hundreds of potential customers. Sponsoring important local events can go a long way in increasing the reach. You can even try innovative, creative, or even hilarious PR stunts that could attract the media’s attention.

Executive Summary for Ride-Hailing Business Plan

The executive summary of your Ride-Hailing business plan will introduce your business, describes what you do, and lays out what you’re expecting from your readers. Structurally, it is an important chapter of your business plan. And while it’s the first thing that reader will read, we generally advise that you write it last. Why? Because once you know your business’s details inside and out, you will be fully prepared to address your executive summary. After all, this content of a business plan is a summary of everything else you’re going to write about.

Ideally, the executive summary can stand out as a document which includes all business milestone and opportunities available for the investors. You can also include brief financial highlights of your business.

Because your executive summary is such a crucial component of your business plan. You’ll want to make sure that it’s as clear and concise as possible. Cover the key business highlights and milestones of your business, but don’t into too much detail. Ideally, your executive summary will be two to three pages at most, designed to be a quick read that sparks interest and makes your investors feel eager to hear more.

The problem and solution for Ride-Hailing Business Plan

Start the opportunity section by describing the problem that you are solving for your target customers. What is the absolute pain point for them? How are they solving their problems? Maybe the existing solutions to your targeted customer’s problem are not affordable. For a startup business with a physical office location, maybe there aren’t any existing solutions within reasonable driving distance. Explaining the problem, as a business owner you are solving for your target customers is far, the most important element of your ride-hailing business plan and crucial for your business success in the future. If you are not able to pinpoint a problem that your potential customers have. Then you might not have a viable business concept.

Who is your Target Market for Ride-Hailing Business Plan

Who is your ideal target market or customer? What is their number? It’s critical here to be specific. If you’re a ride-hailing company, you aren’t targeting “everyone” just because many have owned a car. You’re possibly targeting a specific market segment such as “Students or individuals not owning a car” or “Tourists.” This technique will become much easier for you to target your sales and marketing efforts and bring new customers that are most likely to buy your service.

The individuals using or not using ride-hailing applications, private car transport with a driver, are classified according to different criteria, such as their level of education, age, annual income, and area, i.e., whether their place of residence is in an urban or rural area. These different poles make it possible to categorize and classify users and see the evolution of the last four years.

For example, in 2018 Less than a quarter of North American high school graduates used Lyft or Uber while more than a third of graduates and more than half of post-graduates used these applications. Educated students or people tend to use these Ride-Hailing applications more often. One of the reasons is that many of them live in city areas where access to this type of online service is straightforward and fast, unlike in rural areas with very few Lyft or Uber drivers.

Market analysis and Market Research

If you want to include a market analysis section in your business plan, start with some basic research. First, identify your market segments in the target location and determine how big each segment is. A market segment is a group or combination of individuals or businesses you could potentially sell.

Don’t fall into the trap by defining the market as everything. The classic example is an ice cream parlor; if everything in the target location eats ice cream, it doesn’t mean the whole population is your target market.

Marketing and Sales plan

The sales and marketing plan section of the Ride-Hailing Business Plan will include how you plan to reach your market segments, your pricing plan, how you plan on trading to those target markets, and what types of partnership and activities you need to make your business a success.

Before you decide about writing your marketing plan, you must have your target market properly defined and have your buyer persona comes out. Without actually understanding who you are marketing to, a marketing plan will have little value.

Are you happy with what we offer? Grab your Solution Now

We are having ready to use financial models, business plan & pitch decks for you., financial plan.

Last but surely not least is your financial plan section. This is often what Business Startups find most difficult, but it doesn’t have to be as intimidating as it appears. Business financial plans for most startups are less complex than you think, and a business finance degree is absolutely not required to build a solid financial model . That said, if you need further help, there are lots of financial templates and resources out there to help you build a perfect financial plan. You can also hire financial consultants who could carry such tasks.

A typical financial plan will have Income Statement, Cashflow , and Balance Sheet for five years and then annual sales projections for the remaining three to five years. Five-year projections are typically sufficient, but some investors will request a seven-year statement.

Following are details of the three financial statements that you should include in your business plan and a brief overview of what should be in each section.

Sales forecast

The sales forecast is just that your projections of how much you will sell over the next 5 years. An ideal sales forecast is usually broken down into several excel rows, with a row for each center product or service you offer. Don’t make the error of breaking down your sales forecast into painful detail. Just focus on the high-level at this point.

Your sales forecast will also include an identical row for each sales row to cover the COGS(Cost of Goods Sold),. These rows show the expenses related to getting your product or delivering your service. Cost of Goods Sold should only include those costs directly related to producing your products. Regular business operating expenses such as insurance, salaries, rent, etc. are not a part of COGS.

Personnel plan

Your business personnel plan details how much you plan on hiring or paying your employees. For a small or medium-sized company, you might list every position on the personnel plan. And how much money will be paid each month for each job post? For larger enterprises, the personnel plan is usually broken down into functional groups such as “Sales” and “Marketing.”

The personnel plan will also include cost analysis like “employee burden,” which is the employee’s cost beyond salary. This includes payroll benefits, payroll taxes, medical, insurance, and other related costs that you will incur every month for obtaining an employee on your payroll.

Income statement or profit and loss statement

The profit and loss are also known as PnL. This is where your Financial numbers all merge. It shows if you’re generating a profit or bearing a loss. The PnL pulls data from your sales forecast and your admin expenses and includes a list of all your other ongoing expenses connected with running your Ride-Hailing business.

The P&L also includes the all-vital “bottom line,” where your admin expenses are deducted from your sales to show if your business is making a net profit each month or potentially incurring some losses while you grow.

Cash flow statement

The cash flow statement mostly gets confused with the income statement, but they are very different and have different purposes. While the PnL calculates your profits and losses. The cash flow statement contains how much cash (money in the hand) that you have at any given point.

The key to understanding the distinction between the two statements is understanding the difference between profits and cash. The easiest way to imagine it is when you make a revenue. If you need to send an invoice to your customer. And then your customer takes 10 or 30 days to pay the dues. Then you don’t have the cash from the sale straight away. But, you will have recorded the sale in your PnL. And shown a profit from that sale on the day you made the sale.

Balance sheet

The last financial statement that most ride-hailing businesses will need. To create as part of their business plan is the statement of financial position or balance sheet. The balance sheet gives an overview of the financial stability of your business. It lists the Fixed and Non-fixed assets in your company, the short and long-term liabilities, and the owner’s equity. If you deduct the company’s assets from liabilities, you can determine the net worth.

For ride-hailing businesses, we also offer customer financial models with guidelines. Do check it out below:

Ride-hailing Financial Model

Oak Business Consultant has helped many Start-up and SME’s for the preparation of Business Plan, Financial Modelling, and Financial Consultancy.

Get your desired solution today with just a single click, share this post, related posts.

COVID-19: A Wrath or An Opportunity

Overcoming the financial challenges amid the COVID-19 pandemic is a paramount task. But if you are looking to take...

Top Healthcare Industry Financial Models

Top Healthcare Industry Financial Models The Healthcare industry is one of the most lucrative industries in the world. It offers...

10 SaaS Financial Metrics Every Business Needs to Track

10 SaaS Financial Metrics Every Business Needs to Track With some new technology coming out almost every quarter in the...

Understanding Angel Investors

Angel Investors Angel investors are those affluent individuals who invest in a small-scale business, usually a start-up. They are dissimilar...

How to write an effective Mission Statement with Examples

How to write an effective Mission Statement with Examples Writing an effective Mission Statement is very important because a mission...

Highlighting the Importance of CAC and CLV

Customer Acquisition Cost (CAC) and Customer Lifetime Value (CLV) are two essential metrics for any SaaS company. CAC is...

What makes an office productive?

To be productive in whatever you do, you have to do analysis and work in a clearly defined office...

Creating a Financial Budget – A Holistic Guide

Creating a Financial Budget - A Holistic GuideCreating a financial budget can be intimidating and overwhelming, but it doesn't...

Why Do You Need CFO Services?

Running a business means you need a lot of financial planning, especially if you're a startup. There are way...

A Holistic Guide to the Role of Startup CFOs

A Holistic Guide to the Role of Startup CFOs The CFO role continues to expand, particularly in fast-growing startups. A...

My Wishlist

How to Write an Uber Business Plan

Sep 23, 2022

Executive Summary

Your executive summary is the first part of your business plan, but you usually write it last because it is a summary of all the important parts.

The point of your Executive Summary is to get the reader’s attention quickly. Tell them what kind of Uber business you’re running and what its status is. For example, are you a new business, do you have a business that you want to grow, or do you run businesses in more than one market?

Next, give an overview of each part of your plan that follows. For example, describe the Uber industry in a few words. Talk about the type of Uber business you run and how it works. Detail your direct competitors. Tell us about your ideal customers. Give a brief overview of your marketing plan. Find the important people on your team. And explain what your financial plan is.

Company Analysis

In your business analysis, you will explain what kind of business you are running.

For instance, you could run one of the following Uber businesses:

In the Company Analysis section of your business plan, you need to explain what kind of Uber business you will run and give some background on the company.

Include answers to things like:

Industry Analysis

In your industry analysis, you need to give a general picture of the Uber business.

Even though this may seem pointless, it has more than one use.

First, learning about the Uber industry makes you smarter. It gives you a better idea of the market you are in.

Second, market research can help you make your strategy better, especially if it shows you market trends.

The third reason to do market research is to show your readers that you know a lot about your field. You do just that by doing the research and putting it in your plan.

In the industry analysis section, you should answer the following questions:

Customer Analysis

In the customer analysis section, you need to explain who you serve and/or who you hope to serve.

Individuals, groups, and manufacturers are all examples of customer segments.

You can probably guess that the customer segment(s) you choose will have a big impact on your business. Clearly, the way you run your business would be very different for freight than for, say, individual rides.

Try to figure out who your ideal customers are based on how they look and how they think. In terms of demographics, talk about the ages, genders, locations, and income levels of the people you want to serve. Most Uber businesses mostly serve people in the same city or town, so it’s easy to find demographic information on government websites.

Psychographic profiles explain what your target customers want and need. The better you can understand and define these needs, the easier it will be to get customers and keep them coming back.

Competitive Analysis

In your competitive analysis, you should list your business’s direct and indirect competitors and then focus on the direct ones.

Other Uber drivers are your direct competitors.

Indirect competitors are other places where customers can buy things that aren’t direct competitors. This includes people who drive their own cars, rent cars, or run their own trucking businesses.

Concerning direct competition, you should talk about the other Uber drivers with whom you compete. Most likely, the Uber drivers closest to you will be your direct competitors.

Give an overview of each of these competitors’ businesses and list their strengths and weaknesses. Unless you’ve worked at one of your competitors’ companies, you won’t know everything about them. But you should be able to find out key facts about them, such as:

For the last two questions, try to answer them from the customers’ point of view. And don’t be afraid to ask the customers of your competitors what they like and dislike about them.

The last part of your competitive analysis section is to list the ways you are better than your competitors. As an example:

Think about how you will do better than your competitors and write them down in this part of your plan.

Marketing Plan

Usually, a marketing plan has four parts: the product, the price, the place, and the promotion. As an Uber driver, the following should be part of your marketing plan:

Product: In the product section, you should restate the type of Uber that you wrote about in your Company Analysis. Then, give specifics about the products you’ll be selling. For example, does your Uber business offer rides between cities in addition to trips within the same city?

Price: Write down the prices you’ll be charging and how they compare to those of your competitors. In your marketing plan, the product and price sections are basically where you list the services you offer and how much they cost.

Place: This is where your Uber business is located. Write down where you are and how that will affect your success. For example, will your car or fleet be in the center of the market to get the most business? In this part, talk about how where you are will affect how many people want your services.

The last part of your Uber marketing plan is the section about promotions. Here, you’ll write down how you’ll get people to your location (s). Here are some ways to get the word out about the following marketing campaigns:

Operations Plan

In the other parts of your business plan, you talked about your goals. In your operations plan, you talk about how you will reach those goals. Your plan for operations should have two separate parts.

Everyday short-term processes include all the things you have to do to run your business, like getting the oil changed regularly, cleaning the inside after each customer, washing the outside regularly, buying water/mints, etc.

Long-term goals are the goals you want to reach in the future. These could be the dates when you hope to complete your 1,000th ride or make $X. It could also be when you plan to launch in new markets.

Management Team

To show that you can succeed, you need a strong management team. Showcase the backgrounds of your key players, focusing on the skills and experiences that prove they can help a company grow.

You and/or your team members should have managed Uber businesses before. If so, talk about your experience and skills. But also highlight any experience you think will help your business succeed.

If your team is missing something, you might want to put together an advisory board. A two-to-eight-person advisory board would help your business in the same way that a mentor would. They would help answer questions and give advice on how to plan. If you need to, look for advisory board members who have worked in transportation for people or who have run small businesses well.

Financial Plan

Your 5-year financial plan should include a monthly or quarterly breakdown for the first year, then an annual breakdown after that. Your income statement, balance sheet, and cash flow statement are all parts of your financial statements.

A more common name for an income statement is a Profit and Loss statement, or P&L. It shows your income and then takes away your expenses to show if you made a profit.

You need to make assumptions in order to make your income statement. For example, how many rides will you give each day? 10 or 20? And will sales grow by 2% or 10% every year? As you might expect, the financial forecasts for your business will be greatly affected by the assumptions you choose. Do as much research as you can to try to make sure your assumptions are true.

Balance sheets show both your assets and your debts. Balance sheets can have a lot of information, but try to boil them down to the most important parts. For example, if you put $50,000 into building up your Uber business, you won’t make money right away. Instead, it is an asset that you can use to make money for years to come. Likewise, if a bank gives you a check for $50,000, you don’t have to pay it back right away. Instead, you will have to pay that back over time.

Cash Flow Statement: Your cash flow statement will help you figure out how much money you need to start or grow your business and make sure you never run out of cash. Most business owners and entrepreneurs don’t realize that you can make money but still go bankrupt if you run out of money.

When making your Income Statement and Balance Sheet, make sure to include some of the most important costs of starting or growing a business:

Need Funding?

Business Plan for Banks

SBA Business Plan

Market Research

Ready Reports

Order Industry Analysis

IMAGES

Business Model Canvas Uber
Uber Business Model
Uber Business Model Explained: From Start to Finish
Uber Eats Business Model is a multisided platform with touches of an aggregator and on-demand
Uber Business Model
How Uber Business Works

VIDEO

PES 2011
Uber and Ola Reduced Minimum Fare For First Time
Is Uber paying less than upfront offer?
Uber Sucks New York City Uber & Lyft Protest!
Ola Uber का Business होगा खत्म #shorts #trending
My goals and plan for 2023? Will I continue Rideshare? What’s next in my life?

COMMENTS

How To Write an Uber Business Plan + Template [Updated 2023]
Discuss the type of Uber business you are operating and your business model. Detail your direct competitors. Give an overview of your target customers. Provide
Uber Business Model
Uber's business model is based on commissioning and this is, therefore, its revenue stream. The total value of each ride includes the driver's
Uber Business Plan Template [2023]
To start an uber business you have to follow the steps that are mentioned in detail in this uber taxi business plan. They include making an uber
How Does Uber Make Money? Uber Business Model Analysis
Uber has three main segments: mobility, freight (both are two-sided marketplaces), and delivery (a three-sided platform). Uber makes money by
Uber Business Model Explained: From Start to Finish
Uber's Value Propositions for Drivers · Flexibility to drive on their own terms · Better income · Lower idle time to get new rides · Training
How to Write an Uber Driver Business Plan [Sample Template]
Our mission as a standard Uber driver company is to develop a highly successful, profitable business which provides reliable drivers and cars in our city and to
How The Uber For Business Platform Works
business-travel.jpg · Meal delivery. Let employees and customers order from over 780,000 restaurants, while you control budgets and policies. · Commute programs.
Uber Business Model & Statistics
Uber focuses on building the supply chain first and keep it flowing until the time the demand side to service increases. Uber's initial target
How to Write Ride-Hailing Business Plan
Before getting a Uber-like ride-hailing business up and running, you will need to structure a financial plan that would work out profitable for
How to Write an Uber Business Plan
Company Analysis · Uber Green is a service that uses electric cars. · UberXL offers rides for groups of up to 5 people in a minivan or van. · Uber