Venture Concept No. 1
Link to Formatted Version
Considering the high number of sexual assault cases that were reported by Uber and Lyft in recent years, there is a need for a safer rideshare option. Most of the victims were females who were targeted by male drivers. Thus, females are the most broad group with undermet needs in regards to their safety in rideshare vehicles. More specifically, vulnerable females—ones who are intoxicated or are weary of travelling alone—have this need.
Currently, the only options to satisfy the need for a convenient taxi type service are more established rideshare companies like Uber and Lyft. Their current customers are pretty loyal to them due to their competitive pricing and accessibility, regardless of the occasional shady driver that they have. Thus, this opportunity is not huge; it would be a very niche venture. However, a safer rideshare option will provide vulnerable groups of women with peace of mind as they travel, and will hopefully result in them having a more positive rideshare experience overall.
Innovation
The service would be revolutionary in that there is currently no major female-driver-only rideshare service in the United States. The company would center around a visually appealing, user-friendly app that would allow people to order a rideshare car to take them to wherever they need to go. The customers would be guaranteed a female driver, since females are less likely to be perpetrators of sexual assault. Our drivers would also go through extensive background checks, since our mission revolves around the safety of our customers. These practices would hopefully provide our customers with the peace of mind of knowing that they are receiving a trustworthy driver.
As far as income generation goes, we will make money by charging a fee for each ride. This fee will be variable based on how long the drive is and where it is. From the total fee, most of the price will go to the driver but between 20% and 40% will go to the company.
Minor Elements
SafeRyde Venture Concept
OpportunityConsidering the high number of sexual assault cases that were reported by Uber and Lyft in recent years, there is a need for a safer rideshare option. Most of the victims were females who were targeted by male drivers. Thus, females are the most broad group with undermet needs in regards to their safety in rideshare vehicles. More specifically, vulnerable females—ones who are intoxicated or are weary of travelling alone—have this need.
Currently, the only options to satisfy the need for a convenient taxi type service are more established rideshare companies like Uber and Lyft. Their current customers are pretty loyal to them due to their competitive pricing and accessibility, regardless of the occasional shady driver that they have. Thus, this opportunity is not huge; it would be a very niche venture. However, a safer rideshare option will provide vulnerable groups of women with peace of mind as they travel, and will hopefully result in them having a more positive rideshare experience overall.
Innovation
The service would be revolutionary in that there is currently no major female-driver-only rideshare service in the United States. The company would center around a visually appealing, user-friendly app that would allow people to order a rideshare car to take them to wherever they need to go. The customers would be guaranteed a female driver, since females are less likely to be perpetrators of sexual assault. Our drivers would also go through extensive background checks, since our mission revolves around the safety of our customers. These practices would hopefully provide our customers with the peace of mind of knowing that they are receiving a trustworthy driver.
As far as income generation goes, we will make money by charging a fee for each ride. This fee will be variable based on how long the drive is and where it is. From the total fee, most of the price will go to the driver but between 20% and 40% will go to the company.
Minor Elements
- Most Important Resource: I believe that my top resource is my extensive professional network. Having several experienced, trustworthy individuals who would be willing to help me out in my business ventures by giving tips and assistance is immeasurably valuable.
- What’s Next: My next venture within this business will be targeting men. I will do this by launching an extensive marketing campaign that encourages men to consider using the service for (at least) their female loved ones since it will help in keeping them safe.
- Five Years From Now: In five years, I hope that the product meets its mission by helping to curb the rideshare car sexual assault rate. By doing this, I hope that people will have found that the product has given them a greater peace of mind whenever they need to hail a rideshare car. Overall, this venture has aided in giving me an idea of how to successfully be an entrepreneur and I can definitely see myself using the skills that I learned in this class when I create my own business in the future.
Hey Katherine,
ReplyDeleteI think you product could really take off and be successful because, like you mentioned, there are no real ride sharing service that has only female drivers. I think your plan is good because it is motivated by helping people. I think if you keep at it, you can help decrease the sexual assault rate.
Hey Katherine,
ReplyDeleteI think your business concept is very interesting and has great potential. This was a problem that was unknown to me before you raised my awareness. However, after your insightful interviews, I now realize this is a need that affects some of my friends on a daily basis. Your concept will be successful because it is a necessity for transportation at UF.