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Uber Business Plan Template

Written by Dave Lavinsky

uber business plan template

Uber Business Plan

Over the past 20+ years, we have helped over 1,000 entrepreneurs and business owners create business plans to start and grow their businesses. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through an Uber business plan template step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What Is a Business Plan?

A business plan provides a snapshot of your business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan

If you’re looking to start an Uber business, or grow your existing business, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your business in order to improve your chances of success. Your business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Uber Businesses

With regards to funding, the main sources of funding for an Uber business are personal savings, and credit cards. Personal savings and bank loans are the most common funding paths for Uber businesses.

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How to write a business plan for an uber business.

If you want to start an Uber business or expand your current one, you need a business plan. Below we detail what should be included in each section of your business plan.

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of Uber business you are operating and its status. For example, are you a startup, do you have a business that you would like to grow, or are you operating businesses in multiple markets?

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the Uber industry. 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 a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.

Company Analysis

In your company analysis, you will detail the type of business you are operating.

For example, you might operate one of the following types of Uber businesses:

  • Uber Green : this type of Uber uses electric vehicles.
  • UberX: this type of Uber provides rides for 1-3 customers in a car.
  • UberXL: this type of provides rides for groups up to 5 in a minivan or van.
  • Uber Delivery: this type of Uber provides local deliveries, of food ordered via the Uber Eats platform, or of packages under 50 pounds.
  • Uber Freight: this type of Uber hauls freight over long distances, choosing which loads to haul via the Uber Freight platform

In addition to explaining the type of Uber business you will operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to questions such as:

  • When and why did you start the business?
  • What is your Uber business model? How will you make money using Uber?
  • What milestones have you achieved to date? Milestones could include the number of persons assisted, the prestige of clientele served, etc.
  • Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the Uber industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the Uber industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your strategy, particularly if your research identifies market trends.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section:

  • How big is the Uber industry (in dollars)?
  • Is the market declining or increasing?
  • Who are the key competitors in the market?
  • Who are the key suppliers in the market?
  • What trends are affecting the industry?
  • What is the industry’s growth forecast over the next 5 – 10 years?
  • What is the relevant market size? That is, how big is the potential market for your Uber business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: individuals, groups, and manufacturers.

As you can imagine, the customer segment(s) you choose will have a great impact on your business. Clearly, your business structure would be far different for freight than for individual rides, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most Uber businesses primarily serve customers living in the same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other Uber drivers.

Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes individuals who have their own car, or drive a rental car, or independent trucking companies.

With regards to direct competition, you want to describe the other Uber drivers with which you compete. Most likely, your direct competitors will be Uber drivers located very close to your location.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

  • What types of customers do they serve?
  • Do they specialize in specific services (i.e. luxury transportation, courier services, etc.)?
  • What is their pricing (premium, low, etc.)?
  • What are they good at?
  • What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

  • Will you provide a wider range of services?
  • Will you offer greater convenience, such as early morning and/or late night hours?
  • Will you provide any in-car amenities, such as mints or bottled water?
  • Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For an Uber driver, your marketing plan should include the following:

Product : In the product section, you should reiterate the type of Uber that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to cross-town trips, will your Uber business provide rides between cities?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the services you offer and their prices.

Place : Place refers to the location of your Uber business. Document your location and mention how the location will impact your success. For example, will your car or fleet be centrally located, to capture the greatest market share? In this section, discuss how your location will affect the demand for your services.

Promotions : The final part of your Uber marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider the following marketing campaigns:

  • Advertising in local papers and magazines
  • Reaching out to local websites
  • Signs and billboards
  • Social media marketing
  • Local radio advertising

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your business, including getting regular oil changes, cleaning the interior after each customer, washing the exterior regularly, purchasing water/mints, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to complete your 1,000 th ride, or when you hope to reach $X in revenue. It could also be when you expect to launch in new markets.  

Management Team

To demonstrate your ability to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally, you and/or your team members have direct experience in managing Uber businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in passenger transportation, or successfully running small businesses.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you give 10 rides per day, or 20? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your Uber business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a business:

  • Office build-out including fixtures, construction, etc.
  • Cost of buying or leasing a company vehicle
  • Cost of office supplies such as software
  • Payroll or salaries paid to staff
  • Business insurance
  • Taxes and permits
  • Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your car or fleet specs, or an overview of all the amenities or services you provide.  

Putting together a business plan for your Uber business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the Uber industry, your competition, and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful business.  

Uber Business Plan FAQs

What is the easiest way to complete my uber business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily complete your Uber Business Plan.

What is the Goal of a Business Plan's Executive Summary?

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of Uber business you are operating and the status; for example, are you a startup, do you have an Uber business that you would like to grow, or are you operating a chain of Uber businesses?

Don’t you wish there was a faster, easier way to finish your Uber business plan?

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Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.   Click here to see how a Growthink business planning consultant can create your business plan for you.

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Uber business model explained: from start to finish.

By  Nitin Lahoti   In  Blog   Posted  January 2, 2019

Booking cab with Uber like app

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?

Booking cab with Uber like app

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

  • On-demand cab bookings (Convenient)
  • Real-time tracking
  • Accurate ETAs
  • Cashless rides
  • Lower wait time for a ride
  • Upfront pricing
  • Multiple ride options

Uber’s Value Propositions for Drivers

  • Flexibility to drive on their own terms
  • Better income
  • Lower idle time to get new rides
  • Training sessions
  • Assistance in getting vehicle loans
  • Better trip allocation

Uber’s Business Model Canvas – A Visual Snapshot

Click to Enlarge Image

Uber Business Model Canvas

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-mobisoft-infotech

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.

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How to Create an Uber Business Plan

Blog > how to create an uber business plan, table of content, introduction, i. executive summary, ii. company overview, iii. market analysis, iv. service offerings, v. marketing and sales strategy, vi. operational plan, vii. management and organization, viii. financial projections, ix. funding and investment, x. risk analysis, our other categories.

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How to Create an Uber Business Plan Stellar Business Plans

Launching a successful ride-sharing venture like Uber requires careful planning and strategic execution. At Stellar Business Plans, we understand the challenges faced by startups, and we’re here to guide you through the process of creating a winning Uber business plan. In this in-depth blog post, we will explore step-by-step how to craft a comprehensive business plan for your ride-sharing service. From conducting a thorough market analysis to projecting financials, our proven strategies will ensure your business plan stands out among investors and stakeholders. Let’s dive in!

An effective executive summary is the cornerstone of any business plan. It’s a concise snapshot of your entire plan, capturing the essence of your ride-sharing service. Stellar Business Plans will help you craft a compelling executive summary that clearly outlines your venture’s unique selling proposition (USP), target market, and growth potential. Investors and stakeholders often make initial decisions based on this section, so we ensure it’s engaging and informative.

The foundation of a successful Uber-like service lies in a strong company overview. At Stellar Business Plans, we work closely with you to articulate your business idea with precision. We delve deep into your target market, identifying the pain points your service aims to address. By presenting a clear mission and vision, we ensure your ride-sharing service resonates with both customers and potential investors.

A thorough market analysis is vital to gauge the potential of your ride-sharing venture. Stellar Business Plans utilizes the latest industry data and comprehensive research to analyze the current ride-sharing landscape. We evaluate market trends, customer preferences, and competitor strategies to fine-tune your business plan. Our data-driven insights enable you to make informed decisions and gain a competitive advantage in the market.

Diversified service offerings are a hallmark of successful ride-sharing platforms. Stellar Business Plans works collaboratively with you to develop a range of services tailored to different customer segments. Whether it’s economy, premium, or shared rides, we ensure your pricing strategy is competitive yet sustainable. By offering unique features and personalized experiences, your business will stand out from the crowd.

Promoting your ride-sharing service effectively requires a well-crafted marketing and sales strategy. Stellar Business Plans explores a wide array of marketing channels to reach your target audience. From social media advertising to influencer marketing, our approach is tailored to maximize customer acquisition. Moreover, we help you implement retention strategies, such as loyalty programs and exceptional customer support, fostering long-term customer loyalty.

The operational plan outlines the nuts and bolts of your ride-sharing service. Stellar Business Plans collaborates with you to design a robust organizational structure, defining roles and responsibilities for seamless operations. We focus on technology and infrastructure requirements, ensuring your ride-sharing platform is built for scalability. Additionally, our expertise in supply-demand management will keep your service efficient, even during peak hours.

Investors look for a competent and experienced management team. Stellar Business Plans helps you craft detailed profiles of key team members, highlighting their expertise and qualifications. A well-structured organizational chart ensures clear communication and efficient decision-making. Our emphasis on strong leadership and industry expertise boosts investor confidence in your venture’s success.

Financial projections offer a glimpse into your venture’s financial future. At Stellar Business Plans, we believe in realistic projections backed by data and industry benchmarks. Our consultants create comprehensive revenue forecasts, expense projections, and profit margins. Transparent assumptions and methodologies instill trust and credibility among potential investors.

Identifying the startup costs and exploring funding options are essential steps in your business plan. Stellar Business Plans assists you in determining initial investment requirements and evaluating funding options. We strategize funding approaches, such as venture capital, loans, or bootstrapping, tailored to your specific needs. With a well-structured funding plan, your ride-sharing venture will be financially poised for success.

Every venture faces risks, but having a solid risk analysis and mitigation strategy sets you apart. Stellar Business Plans conducts a comprehensive risk assessment, identifying potential challenges in your ride-sharing business. We provide actionable risk mitigation strategies to minimize negative impacts. Moreover, our expertise in compliance ensures your business adheres to legal and regulatory requirements.

Creating an Uber business plan is a complex yet rewarding process. Stellar Business Plans, your trusted startup consultant, is dedicated to helping you develop a winning business plan that captivates investors and lays the groundwork for your successful ride-sharing venture. With our structured approach and in-depth industry knowledge, you’ll be well-equipped to steer your business towards growth and prosperity.

If you’re ready to take the leap into the dynamic world of ride-sharing, turn to Stellar Business Plans for expert guidance. Our team of experienced consultants is committed to shaping your business vision into reality. Visit our website (www.stellarbusinessplans.com) to explore our services and schedule a consultation today.

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How Does Uber Make Money? Uber Business Model Analysis

Uber is a multi-sided marketplace , a platform business model that connects drivers and riders. It has an interface with gamification elements that make it easy for two sides to connect and transact. Uber has three main segments: mobility, freight (both are two-sided marketplaces), and delivery (a three-sided platform ). Uber makes money by collecting fees from the platform’s gross bookings. In 2022, Uber generated over $31.87 billion in revenues, mostly from mobility, delivery ( Uber Eats ), and freight. 

Table of Contents

Uber Business Model Short Description

We describe the Uber   business model   via the   VTDF framework   developed by FourWeekMBA. 

Uber Business Model in 2023

uber-revenues-breakdown

Uber’s business model has substantially changed over the pandemic.

Yet, as the pandemic slowed, Uber’s core business model kept shifting again toward mobility. 

The delivery platform (Uber Eats) is an important part of the overall business model, comparable to the mobility platform. 

And the interesting part is that Uber is now a three-headed company, comprising both ride-sharing and delivery and freight as two core segments. 

As Uber went through some structural changes that are worth highlighting before breaking it down in its entirety: 

  • The Mobility platform is again the core of the business even though delivery has also become a key segment: if we look at the growth of the mobility platform vs. the delivery platform, we can see how in 2021, the delivery platform grew at a 114% rate, compared to just the 14.2% of the mobility platform. This has been the effect of the pandemic, which has quickly transformed the food delivery business model into one of the most exciting areas for the company. Yet, it’s important to highlight that the mobility (ride-sharing) platform is the underlying infrastructure that enabled Uber to build other business segments. And as the pandemic slowed down, the mobility platform grew again at a double-digit rate. In 2023, while the mobile platform is back on track to be the most important segment, Uber Eats has also become vital to the company’s business model. 
  • The mobility platform is the one that runs at positive margins and is much wider. If we look at the EBITDA for the company, in 2022, the mobility platform generated $1.59 billion vs. the losses of the other segments. It’s important to remark that the other segments are also relatively new investment areas for Uber. Therefore it might take some time for them to get consolidated into the overall business model . 
  • Uber Eats and investments in further expanding the delivery business: the delivery business has become the most interesting part for Uber. So much so that by 2022 the revenues from the delivery business represented about 44% of the company’s total revenues. In 2022, Uber kept consolidating its position in the delivery business. Uber first tried to buy DoorDash in 2020, but it failed. Uber Eats today is one of the most exciting segments for the company.
  • Uber Freight has been the fastest-growing segment for the company in 2022, growing at a 2x rate! Also, here, Uber leverages the existing platform to connect carriers with shippers and gives carriers upfront, transparent pricing and the ability to book a shipment. 

As of 2022, Uber is a much more complex and interesting platform than just a few years ago.

uber-revenues-by-segment

The history of Uber 

As Dara Khosrowshahi, CEO of Uber pointed out in its financial prospectus.

Uber started at a specific moment in the business world.

The “rise of smartphones, the advent of app stores, and the desire for on-demand work supercharged Uber’s growth and created an entirely new standard of consumer convenience.”

Some context below: 

iphone-sales-took-off-2008

Uber is the very definition of a disruptor. The company, which at one point was the most valuable private startup in the world, has revolutionized the way consumers hail a ride, order takeout from their favorite restaurant, and even earn a living.

With its various transportation and delivery services now available in more than 10,500 cities across 72 countries , it is sometimes easy to forget that Uber started as a humble startup selling limousine rides.

One simple idea

It is December 2008, and friends Travis Kalanick and Garrett Camp are attending the LeWeb technology conference in Paris.

Both men were entrepreneurs cashed up after recently selling their respective startups.

One night during the conference, the two could not find a cab in the middle of a snowstorm.

Kalanick credits Camp with the idea for Uber, which at that time consisted of a rideshare limousine service that could be requested from a smartphone app.  

Kalanick and Camp went their separate ways after the conference, but the latter remained interested in the idea and started work on a prototype with friends Conrad Whelan and Oscar Salazar while he was still CEO of StumbleUpon.  

Camp purchased the domain name UberCab.com and convinced Kalanick to come on board as a chief incubator.

In early 2010, the app was tested in New York City with three vehicles, and an official launch was held in San Francisco a few months later.

The service, which was initially more expensive than a traditional taxi, was nevertheless popular in the city among tech employees.  

UberCab then became known as Uber after the founders realized that it was not a cab company in the traditional sense.

Around this time, Uber hired its first employee Ryan Graves with a now-infamous tweet from Kalanick explaining that he was looking for a product manager.

Expansion and funding

In May 2011, Uber expanded into New York City and was met with resistance and criticism from the city’s established taxi industry.

Uber then became available in Paris in December as an almost ceremonious nod to the place where it had all started three years earlier.

In the same month, at the 2011 LeWeb technology conference, Kalanick announced a Series B funding round worth $37 million with Jeff Bezos and Goldman Sachs among the backers.

The company launched UberX in July 2012 to open up the platform to non-limousine vehicles such as the Cadillac Escalade and Toyota Prius Hybrid.

This would mark the first time the company would seek out drivers using their own vehicles as transportation.

Perhaps more significantly, UberX would eventually expand into other vehicle models and other forms of transportation, such as scooters and bikes.  

In August 2013, Uber expanded into Africa and India with a Series C funding round worth $258 million.

The following year, the first Uber ride was hailed in China – which may prove to be Uber’s largest market in the future.

Recapping the Uber history

  • Uber was, at one point, the most valuable startup in the world and has now revolutionized how consumers hail a ride, order takeout, and even earn a living.
  • The idea for the company came after co-founders Garrett Camp, and Travis Kalanick struggled to hail a cab in a snowstorm during a tech conference in Paris. Camp and two friends developed a prototype app for a service that would be known as UberCab.
  • Uber gained early traction with tech employees after officially launching in San Francisco in 2010. Uber became available in New York City and Paris in 2011 and then in other countries in 2012 and 2013. The launch of UberX signaled a turning point for Uber as it allowed drivers to use their non-luxury vehicles.

What’s so special about Uber?

Bill Gurley Bill Gurley, general partner at Benchmark and an early investor in Uber, pointed out what he thought was its best feature:

no driver-partner is ever told  where  or  when  to work

And he continued:

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:

  • Expanding access.
  • Delivering reliability.
  • Providing choice.
  • Aligning needs.
  • Being upfront.

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.

Related:  How Does HyreCar Make Money? HyreCar Business Model In A Nutshell

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

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

uber-market-expansion

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:

  • Taxi Industry inefficiencies where the supply of cubs is limited at all times.
  • Urban population growth and the impossibility of cities to keep up with car spaces.
  • A growing number of people are willing to rent on demand rather than own a car.

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 Eats .
  • Autonomous driving.
  • Electric scooters.

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: 

  • A base rate.
  • Rates for estimated time and distance of the route.
  • The current demand for rides in the area.

Among the pricing models used by Uber, there are:

  • Surge pricing.
  • Upfront pricing.
  • Route-based pricing.

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

static-vs-dynamic-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:

uber-surge-pricing

Source: uber.com

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

uber-financials

  • MAPCs   (Uber defines it as the  number of unique consumers who completed a Rides or New Mobility ride or received an Eats meal on our platform at least once in a given month, averaged over each month in the quarter.).
  • Trips (Uber defines it as the  number of completed consumer Rides or New Mobility rides and Eats meal deliveries in a given period.).
  • Gross Bookings (Uber defines it as the  total dollar value, including any applicable taxes, tolls, and fees, of Rides and New Mobility rides, Eats meal deliveries, and amounts paid by Freight shippers, in each case without any adjustment for consumer discounts and refunds, Driver and Restaurant earnings, and Driver incentives.)

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:

  • Core platform.
  • Other bets.

The core platform revenues

  • Ridesharing : Drivers’ revenues from service and booking fees for using the platform.
  • Uber Eats   revenues from service fees paid by restaurants and Drivers for its platform. The service fee is paid by both restaurants (a percentage of the meal price) and Drivers (the difference between the delivery fee amount paid by the consumer and the amount earned by the Driver).
  • And others: revenues from the lease or rent of vehicles to third parties who could use these vehicles to provide Ridesharing or Uber Eats services through our platform. This revenue stream got mostly discontinued.

Other bets revenues

  • Uber Freight: publicly launched in 2017, it generates revenue from its offerings from shippers that pay a pre-determined fee for each shipment to use Uber’s brokerage service.
  • New Mobility: introduced in 2018. Revenue is generated through consumer fees for a ride on a dockless e-bike or e-scooter.

How will Uber make money in the future?

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

  • Bike-sharing.
  • And autonomous vehicles.

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-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.

uber-eats-revenue

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:

  • Restaurant owners.
  • And customers.

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:

uber-eats-3-sided-marketplace

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:

  • Amount paid by YOU:   $50 + $5 = $55
  • The amount received by XYZ restaurant:   $50 – (30% commission on order) = $35
  • Delivery Charges:   Pickup Fee + Delivery Fee + Per Mile Charges = $4 + $2 + ($2 x 3) = $12
  • Net Revenue for Uber Eats =   ($55 – $35) – $12 = $8

Last-mile problems and delivery wars 

last-mile-delivery

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?

lyft-business-model

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. 

uber-vs-lyft

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How to Write an Uber Business Plan + Free Template

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Ever thought about running your own Uber business?

If yes, get ready for an exciting entrepreneurial adventure! Uber has changed how people get around, connecting riders with drivers in a convenient way.

But before you start, you need a roadmap – a plan for your business. This guide is like your GPS, guiding you through the process of creating your Uber business plan .

From understanding what people want to operational details, we’ll walk you through it all. So, get set for the ride, and let’s get started with the Uber business plan!

How to Write an Uber Business Plan?

Writing an Uber business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan:

1. Executive Summary

An executive summary is the first section planned to offer an overview of the entire business plan. However, it is written after the entire business plan is ready and summarizes each section of your plan.

Here are a few key components to include in your executive summary:

Introduce your Business

Start your executive summary by briefly introducing your business to your readers. It may include the name, history, type of Uber business, etc. For example,

A brief introduction to CityCruise

CityCruise Transport Solutions — your premier choice for reliable and efficient transportation services in the USA. At CityCruise, we redefine the travel experience, offering a diverse range of services designed to cater to your every need.

Whether you’re looking for a comfortable ride across town with CityCruise, a shared journey with CityCruise Pool, or even a gourmet meal delivered straight to your door with CityCruise Eats, our commitment to excellence remains unwavering.

With a focus on safety, convenience, and a touch of luxury, CityCruise is more than just a ride – it’s a seamless journey tailored to enhance your mobility in every way. Welcome aboard the future of transportation with CityCruise!

Market Opportunity

Summarize your market research, including market size, growth potential, and marketing trends. Highlight the opportunities in the market and how your business will fit in the industry along with competitors.

Uber Services

Highlight the Uber services you offer your clients. List all the services here as delivery, pick-up & drop, or any other services your Uber business provides.

Marketing & Sales Strategies

Define your sales and marketing strategies, specifying the platforms you will utilize for marketing and outlining your approach to customer acquisition.

Financial Highlights

Briefly summarize your financial projections for the initial years of business operations. Include your financing needs in this section incorporating your startup costs.

Call to Action

Summarize your executive summary section with a clear CTA, for example, inviting angel investors to discuss the potential business investment.

Say goodbye to boring templates

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business plan of uber

2. Business Overview

The business overview section of your business plan offers detailed information about your business. The details you add will depend on how important they are to your business. Yet, business name, location, business history, and future goals are some of the foundational elements you must consider adding to this section:

Business Description

Describe what kind of Uber business you run and the name of it. You may specialize in one of the following Uber businesses:

Describe the legal structure of your Uber business, whether it is a sole proprietorship, LLC, partnership, or others.

List the names of your Uber business’s founders or owners. Describe what shares they own and their responsibilities for efficiently managing the business.

Mission Statement

Summarize your business’ objective, core principles, and values in your mission statement. This statement needs to be memorable, clear, and brief. For example,

uber business mission statement example

Business History

If you’re an established Uber service provider, briefly describe your business history, like—when it was founded, how it evolved over time, etc. Additionally, If you have received any awards or recognition for excellent work, describe them.

Future Goals

It’s crucial to convey your aspirations and vision. Mention your short-term and long-term goals; they can be specific targets for revenue, market share, or expanding your services.

This section should provide a thorough understanding of your business, its history, and its plans. Keep this section engaging, precise, and to the point.

3. Market Analysis

The market analysis section of your business plan should offer a thorough understanding of the industry with the target market, competitors, and growth opportunities. You should include the following components in this section.

Target market

In this section, define your ideal customer and mention their preferences. This will support you in finding your ideal customer profile.

Market size and growth potential

Describe your market size and growth potential and whether you will target a niche or a much broader market.

For example, in 2022, mobility services companies in the United States collectively generated an impressive revenue of nearly $32 billion .

Competitive Analysis

Identify and analyze your direct and indirect competitors. Identify their strengths and weaknesses, and describe what differentiates your Uber services from them. Point out how you have a competitive edge in the market.

Market Trends

Analyze emerging trends in the industry, such as technology disruptions, changes in customer behavior or preferences, etc. Explain how your business will cope with all the trends.

For instance, people are going towards mobile-based apps in this business, so how will you sustain that is the point?

Regulatory Environment

List regulations and licensing requirements that may affect your Uber business, such as the Federal Motor Carrier Safety Administration (FMCSA), National Highway Traffic Safety Administration (NHTSA), city regulations, etc.

Here are a few tips for writing the market analysis section of your Uber business plan:

  • Conduct market research, industry reports, and surveys to gather data.
  • Provide specific and detailed information whenever possible.
  • Illustrate your points with charts and graphs.
  • Write your business plan keeping your target audience in mind.

4. Products And Services

The product and services section should describe the specific services and products that will be offered to customers. To write this section should include the following:

Describe your services

Mention the Uber services your business will offer. This list may include services like:

Quality measures

This section should explain how you maintain quality standards and consistently provide the highest quality service.

In short, this section of your Uber plan must be informative, precise, and client-focused. By providing a clear and compelling description of your offerings, you can help potential investors and readers understand the value of your business.

5. Sales And Marketing Strategies

Writing the sales and marketing strategies section means a list of strategies you will use to attract and retain your clients. Here are some key elements to include in your sales & marketing plan:

Unique Selling Proposition (USP)

Define your business’s USPs depending on the market you serve, the equipment you use, and the unique services you provide. Identifying USPs will help you plan your marketing strategies. For example,

Pricing Strategy

Describe your pricing strategy—how you plan to price your services and stay competitive in the local market. You can mention any discounts you plan to attract new customers to your business.

Sales & Marketing Strategies

Discuss your marketing & sales strategies to market the services and maximize your sales. Some of the strategies are social media advertising, SEO, partnerships with local businesses, referral programs, localized advertising, email marketing, in-app notifications, etc.

Customer Retention

Describe your customer retention strategies and how you plan to execute them. For instance, introducing loyalty programs, discounts, referral rewards, etc.

Overall, this section of your Uber business plan should focus on customer acquisition and retention.

Have a specific, realistic, and data-driven approach while planning sales and marketing strategies for your Uber business, and be prepared to adapt or make strategic changes in your strategies based on feedback and results.

6. Operations Plan

The operations plan section of your business plan should outline the processes and procedures involved in your business operations, such as staffing requirements and operational processes. Here are a few components to add to your operations plan:

Staffing & Training

Mention your Uber business’s staffing requirements, including the number of drivers or other employees needed. Include their qualifications, the training required, and the duties they will perform.

Operational Process

Outline the processes and procedures you will use to run your Uber business. Your operational processes may include driver onboarding, vehicle maintenance, payment system, customer support, data security, etc.

Adding these components to your operations plan will help you lay out your business operations, which will eventually help you manage your business effectively.

7. Management Team

The management team section overviews your Uber business’s management team. This section should provide a detailed description of each manager’s experience and qualifications, as well as their responsibilities and roles.

Founders/CEO

Mention the founders and CEO of your Uber business, and describe their roles and responsibilities in successfully running the business.

Key managers

Introduce your management and key members of your team, and explain their roles and responsibilities.

It should include, key executives(e.g. COO, CMO.), senior management, and other department managers (e.g. operations manager, customer services manager.) involved in the Uber business operations, including their education, professional background, and any relevant experience in the industry.

Organizational structure

Explain the organizational structure of your management team. Include the reporting line and decision-making hierarchy.

Compensation Plan

Describe your compensation plan for the management and staff. Include their salaries, incentives, and other benefits.

This section should describe the key personnel for your Uber business, highlighting how you have the perfect team to succeed.

8. Financial Plan

Your financial plan section should provide a summary of your business’s financial projections for the first few years. Here are some key elements to include in your financial plan:

Profit & loss statement

Describe details such as projected revenue, operational costs, and service costs in your projected profit and loss statement. Make sure to include your business’s expected net profit or loss.

Cash flow statement

The cash flow for the first few years of your operation should be estimated and described in this section. This may include billing invoices, payment receipts, loan payments, and any other cash flow statements.

Balance Sheet

Create a projected balance sheet documenting your Uber business’s assets, liabilities, and equity.

Break-even point

Determine and mention your business’s break-even point—the point at which your business costs and revenue will be equal.

This exercise will help you understand how much revenue you need to generate to sustain or be profitable.

Financing Needs

Calculate costs associated with starting an Uber business, and estimate your financing needs and how much capital you need to raise to operate your business. Be specific about your short-term and long-term financing requirements, such as investment capital or loans.

Be realistic with your financial projections, and make sure you offer relevant information and evidence to support your estimates.

9. Appendix

The appendix section of your plan should include any additional information supporting your business plan’s main content, such as market research, legal documentation, financial statements, and other relevant information.

  • Add a table of contents for the appendix section to help readers easily find specific information or sections.
  • In addition to your financial statements, provide additional financial documents like tax returns, a list of assets within the business, credit history, and more. These statements must be the latest and offer financial projections for at least the first three or five years of business operations.
  • Provide data derived from market research, including stats about the industry, user demographics, and industry trends.
  • Include any legal documents such as permits, licenses, and contracts.
  • Include any additional documentation related to your business plan, such as product brochures, marketing materials, operational procedures, etc.

Use clear headings and labels for each section of the appendix so that readers can easily find the necessary information.

Remember, the appendix section of your Uber business plan should only include relevant and important information supporting your plan’s main content.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

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This sample Uber business plan will provide an idea for writing a successful Uber plan, including all the essential components of your business.

After this, if you still need clarification about writing an investment-ready business plan to impress your audience, download our Uber business plan pdf .

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Frequently asked questions, why do you need an uber business plan.

A business plan is an essential tool for anyone looking to start or run a successful Uber business. It helps to get clarity in your business, secures funding, and identifies potential challenges while starting and growing your business.

Overall, a well-written plan can help you make informed decisions, which can contribute to the long-term success of your Uber business.

How to get funding for your Uber business?

There are several ways to get funding for your Uber business, but self-funding is one of the most efficient and speedy funding options. Other options for funding are:

  • Bank loan – You may apply for a loan in government or private banks.
  • Small Business Administration (SBA) loan – SBA loans and schemes are available at affordable interest rates, so check the eligibility criteria before applying for it.
  • Crowdfunding – The process of supporting a project or business by getting a lot of people to invest in your business, usually online.
  • Angel investors – Getting funds from angel investors is one of the most sought-after startup options.

Apart from all these options, there are small business grants available, check for the same in your location and you can apply for it.

How detailed should the financial projections be in my Uber business plan?

The level of detail of the financial projections of your Uber business may vary considering various business aspects like direct and indirect competition, pricing, and operational efficiency. However, your financial projections must be comprehensive enough to demonstrate a complete view of your financial performance.

Generally, the statements included in a business plan offer financial projections for at least the first three or five years of business operations.

What key components should an Uber business plan include?

The following are the key components your Uber business plan must include:

  • Executive summary
  • Business Overview
  • Market Analysis
  • Products and services
  • Sales and marketing strategies
  • Operations plan
  • Management team
  • Financial plan

Can a good Uber business plan help me secure funding?

Indeed. A well-crafted Uber business plan will help your investors better understand your business domain, market trends, strategies, business financials, and growth potential—helping them make better financial decisions.

So, if you have a profitable and investable business, a comprehensive business plan can help you secure your business funding.

About the Author

business plan of uber

Vinay Kevadiya

Vinay Kevadiya is the founder and CEO of Upmetrics, the #1 business planning software. His ultimate goal with Upmetrics is to revolutionize how entrepreneurs create, manage, and execute their business plans. He enjoys sharing his insights on business planning and other relevant topics through his articles and blog posts. Read more

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Cold Call podcast series

Uber’s Strategy for Global Success

How can Uber adapt its business model to compete in unique global markets?

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As Uber entered unique regional markets around the world – from New York to Shanghai, it has adapted its business model to comply with regulations and compete locally. As the transportation landscape evolves, how can Uber adapt its business model to stay competitive in the long term?

Harvard Business School assistant professor Alexander MacKay describes Uber’s global market strategy and responses by regulators and local competitors in his case, “ Uber: Competing Globally .”

HBR Presents is a network of podcasts curated by HBR editors, bringing you the best business ideas from the leading minds in management. The views and opinions expressed are solely those of the authors and do not necessarily reflect the official policy or position of Harvard Business Review or its affiliates.

BRIAN KENNY: The theory of disruptive innovation was first coined by Harvard Business School professor Clayton Christensen in his 1997 book, The Innovator’s Dilemma . The theory explains the phenomenon by which an innovation transforms an existing market or sector by introducing simplicity, convenience, and affordability where complication and high cost are the status quo. Think Netflix disrupting the video rental space. Over the years, the term has been applied liberally and not always correctly to other examples, but every so often, an idea comes along that really fits the bill. Enter Uber, the ridesharing behemoth that turned the car service industry on its head. In a few short years after launching in 2010, Uber became the largest car service in the world, as measured in ride count. Last year, Uber drove 6.2 billion riders. Today’s case takes us to London in 2019, where Uber is facing the latest in a long list of challenges from regulators threatening their ability to continue operating in that important market. In this episode of Cold Call , we welcome Alexander MacKay to discuss the case entitled, “Uber: Competing Globally.” I’m your host, Brian Kenny, and you’re listening to Cold Call on the HBR Presents network.

Alexander MacKay is in the strategy unit at Harvard Business School. His research focuses on matters of competition, including pricing, demand, and market structure. Alex, thanks for joining us on Cold Call today.

ALEX MACKAY: Thank you, Brian. Very happy to be here.

BRIAN KENNY: The idea of Uber seems so simple, but it was revolutionary in so many ways. And Uber has been in the headlines many times for both good and bad reasons in its decade of existence. So we’re going to touch on a lot of those things today. So thanks for sharing the case with us.

ALEX MACKAY: Brian, I’m very happy to. It’s a little funny, we’ve actually started to see the first few students who have never hailed a traditional taxi in our classrooms. So I think increasingly, the contrast between the two is going to be pretty difficult for people to fully understand.

BRIAN KENNY: Let me ask you to start by telling us what your cold call would be when you set up the class here.

ALEX MACKAY: The case starts off with the current legal battle going on in London. And so the first question I just ask to start the classroom is: What’s the end game for Uber in London? What do they look like 10 years from now? In the midst of this ongoing legal battle, there has been back and forth, some give and take from both sides, Transportation for London, and also on the Uber side as well. And there’s actually a recent court case that has allowed Uber to have a little more time to operate. They bought about 18 more months of time, but this has been also brought with additional, stricter scrutiny, and 18 months from now, they’re going to be at it again trying to figure out exactly what rules Uber’s allowed to operate under.

BRIAN KENNY: It seems like 18 months in the lifetime of Uber is like a decade. Everything seems to happen so quickly for this company. That’s a long period of time. What made you decide to write this case? How does it relate to the work that you’re doing in your research?

ALEX MACKAY: A big focus of my research is on competition policy, particularly the realms of antitrust and regulation. And here we have a company, Uber, whose relationship with regulation has been really essential to its strategy from day one. And I think appreciating the effects of regulation and how its impact Uber’s performance in different markets, is really critical for understanding strategy and global strategy broadly.

BRIAN KENNY:  Let’s just talk a little bit about Uber. I think people are familiar with it, but they may not be familiar with just how large they are in this space. And the space that they’ve sort of created has also blown up and expanded in many ways. So how big is Uber? Like what’s the landscape of ridesharing look like and where does Uber sit in that landscape?

ALEX MACKAY: Uber globally is the biggest ridesharing company. In 2018, they had over $10 billion in revenue for both ridesharing and their Uber Eats platform. And you mentioned in the introduction, that they had over 6 billion rides in 2019. That’s greater than 15 million rides every day that’s happening on their platform. So really, just an enormous company.

BRIAN KENNY: So they started back in 2010. It’s been kind of an amazing decade of growth for them. How do you explain that kind of rapid expansion?

ALEX MACKAY: They were financed early on with some angel investors. I think Kalanick’s background really helped there to get some early funding. But one of the critical things that allowed them to expand early into many markets that helped their growth was they’re a relatively asset light company. On the ground, they certainly need sales teams, they need translation work to move into different markets, but because the main asset they were providing in these different markets was software, and drivers were bringing their own cars and riders were bringing their own phones, the key pieces of hardware that you need to operate this market, they really didn’t have to invest a ton of capital. In fact, when they launched in Paris, they launched as sort of a prototype, just to show, “Hey, we can do this in Paris without too much difficulty,” as their first international market. So being able to really scale it across different markets really allowed them to grow. I think by 2015, their market cap was $60 billion, five years after founding, which is just an incredible rate of growth.

BRIAN KENNY: So they’re the biggest car service in the world, but they don’t own any cars. Like what business are they really in, I guess is the question?

ALEX MACKAY: They’re certainly in the business of matching riders to drivers. They’ve been able to do this in a way that doesn’t require them to own cars, just through the use of technology. And so what they’re doing, and this is I think pretty well understood, is that they’re using existing capital, people who have cars that may be going unused, personal cars, and Uber is able to use that and deploy that to give riding services to different customers. Whereas in the traditional taxi model, you could have taxis that you didn’t necessarily own, but you leased them or you rented them, but they had the express purpose of being driven for taxi services. And so it wasn’t using idle capital. You kind of had to create additional capital in order to provide the services.

BRIAN KENNY: So you mentioned Travis Kalanick a little bit earlier, but he was one of the co-founders of the company, and the case goes a little bit into his philosophy of what expansion into new markets should look like. Can you talk a little bit about that?

ALEX MACKAY: Certainly. Yeah. And I think it might even be helpful to talk a bit about his background, which I think provides a little more context before Uber. He dropped out of UCLA to work on his first company, Scour, and that was a peer-to-peer file sharing service, a lot like Napster, and actually predated Napster. And where he was operating was sort of an evolving legal gray area. Eventually, Scour got sued for $250 billion by a collection of entertainment companies and had to file for bankruptcy.

BRIAN KENNY: Wow.

ALEX MACKAY: He followed that up with his next venture, Red Swoosh, and that was software aimed at allowing users to share network bandwidth. So again, it was a little bit ahead of its time, making use of recent advances in technology. Early on though, they got in trouble with the IRS. They weren’t withholding taxes, and there were some other issues with his co-founder, and there was sort of a bad breakup between the two. Despite this, he persevered and ended up selling the company for $23 million in 2007. And after that, his next big thing was Uber. So one thing I just want to point out is that at all three of these companies, he was looking to do something that leveraged new technology to change the world. And by nature, sometimes businesses like that operate in a legal gray area and you have very difficult decisions to make. Some other decisions you have to make are clearly unethical and there’s really no reason to make some of those decisions, like with the taxes and with some other things that came out later on at Uber, but certainly one of the things that any founder who’s looking to change the world with a big new technology company has to deal with, is that often, the legal framework and the regulatory framework around what you’re trying to do isn’t well established.

BRIAN KENNY: Obviously drama seems to follow Travis where he goes. And his expansion strategy was pretty aggressive. It was almost like a warlike mentality in terms of going into a new market. And you could sort of sum it up as saying ask forgiveness. Is that fair?

ALEX MACKAY: Yeah. Yeah. Ask for forgiveness, not permission. I think they were really focused on winning. I think that was sort of their ultimate goal. We describe in the case there’s this policy of principle confrontation, to ignore existing regulations until you receive pushback. And then when you do receive pushback, either from local regulators or existing sort of taxicab drivers, mobilize a response to sort of confront that. During their beta launch in 2010, they received a cease-and-desist letter from the city of San Francisco. And they essentially just ignored this letter. They rebranded, they used to be UberCab, and they just took “Cab” out of their name, so now they’re Uber. And you can see their perspective in their press release in response to this. They say, “UberCab is a first to market cutting edge transportation technology, and it must be recognized that the regulations from both city and state regulatory bodies have not been written with these innovations in mind. As such, we are happy to help educate the regulatory bodies on this new generation of technology and work closely with both agencies to ensure compliance.”

BRIAN KENNY: It’s a little arrogant.

ALEX MACKAY: Yeah, so you can see right there, they’re saying, what we’re operating in is sort of this new technology-based realm and the regulators don’t really understand what’s going on. And so instead of complying with the existing regulations, we’re going to try to push regulations to fit what we’re trying to do.

BRIAN KENNY: The case is pretty epic in terms of it sort of cuts a sweeping arc across the world, looking at the challenges that they faced with each market they entered, and none more interesting I think the New York City, which is obviously an enormous market. Can you talk a little bit about some of the challenges they faced going into New York with the cab industry being as prevalent as it was and is?

ALEX MACKAY: Yeah, absolutely. I mean, I think it’s pretty well known for people who are familiar with New York that there were restrictions on the number of medallions which allowed taxis to operate. So there was a limited number of taxis that could drive around New York City. This restriction had really driven up the value of these medallions to the taxi owners. And if you had the experience of taking taxis in New York City prior to the advent of Uber, what you’d find is that there were some areas where the service was very, very good. Downtown, Midtown Manhattan, you could almost always find a taxi, but there are other parts of the city where it was very difficult at times to find a cab. And when you got in a cab, you weren’t sure that you were always going to be given a fair ride. And so Uber coming in and providing this technology that allowed you to pick up a ride from anywhere and sort of track the route as you’re going on really disrupted this market. Consumers love them. They had a thousand apps signups before they even launched. Kalanick mentioned this in terms of their launch strategy, we have to go here because the consumers really want us here. But immediately, they started getting pushback from the taxicab owners who were threatened by this new mode of transportation. They argued that they should be under the same regulations that the taxis were. And there were a lot of local government officials that were sort of mobilized against Uber as well. De Blasio, the Mayor of New York, wrote opinion articles against Uber, claiming that they were contributing to congestion. There was a lot of concern that maybe they had some safety issues, and the taxi drivers and the owners brought a lawsuit against Uber for evading these regulations. And then later on, and this was the case in many local governments, de Blasio introduced a bill to put additional restrictions on Uber that would make them look a lot more like a traditional taxi operating model, with limited number of licenses and strict requirements for reporting.

BRIAN KENNY: And this is the same scenario that’s going to play out almost with every city that they go into because there is such an established infrastructure for the taxi industry in those places. They have lobbyists. They’re tied into the political networks. In some instances, it was revealed that they’ve been connected with organized crime. So not for the faint of heart, right, trying to expand into some of the biggest cities in the United States.

ALEX MACKAY: Absolutely. Absolutely. And what’s sort of fascinating about the United States is it’s actually a place where a company can engage in this battle over regulation on the ground. And de Blasio writes his opinion article and pushes forward this bill. Uber responds by taking out an ad campaign, over $3 million, opposing these regulations and calling out de Blasio. So again, we sort of have this fascinating example of Uber mobilizing their own lobbyists, their lawyers, but also public advertising to sort of convince the residents of New York City that de Blasio and the regulators that are trying to come down on them are in the wrong.

BRIAN KENNY: Yeah. And at the end of the day, it’s consumers that they’re really making this appeal to, because I guess my question is, are these regulations stifling innovation? And if they are, who pays the ultimate price for that, Uber or the consumer?

ALEX MACKAY: Consumers definitely loved Uber. And I don’t think any of the regulators were trying to stifle innovation. I don’t think they would say that. I think their biggest concern, their primary concern was safety, and a secondary and related concern here was losing regulatory oversight over the transportation sector. So this is a public service that had been fairly tightly regulated for a long time, and there was some concern that what happens when this just becomes almost a free market sector. At the same time, these regulators have the lobbyists from the taxicab industry and other interested parties in their ear trying to convince them that Uber really is like a taxi company and should be regulated, and really emphasizing the safety concerns and other concerns to try to get stricter regulations put on Uber. And part of that may be valid. I think you certainly should be concerned about safety and there are real concerns there, but part of it is simply the strategic game that rivals are going to play between each other. And the taxicab industry sees Uber as a threat. It’s in their best interest to lobby the regulators to come down on Uber.

BRIAN KENNY: And what’s amazing to me is that while all this is playing out, they’re not turning their tails and running. They’re continuing to push forward and expand into other parts of the world. So can you talk a little bit about what it was like trying to go into countries in Latin America, countries in Asia, where the regulations and the regulatory infrastructure is quite different than it is in the US?

ALEX MACKAY: In the case, we have anecdotes, vignettes, one for each continent. And their experience in each continent was actually pretty different. Even within a continent, you’re going to have very different regulatory frameworks for each country. So we sort of pick a few and focus on a few, just to highlight how the experience is very different in different countries. And one thing that’s sort of interesting, in Latin America, we focus on Bogota in Colombia, and what’s sort of interesting there is they launched secretly and they were pretty early on considered to be illegal, but they continue to operate despite the official policy of being illegal in Colombia. And they were able to do that in a way that you may not be able to do it so easily in the United States, just because of the different layers of enforcement and policy considerations that are present in Colombia and not necessarily in the United States. Now, when I talk about the current state of Uber in different countries, this is continually evolving. So they temporarily suspended their operations early in 2020 in Columbia. Now they’re back. This is a continual back and forth game that they’re playing with the regulators in different markets.

BRIAN KENNY: And in a place like Colombia, are they not worried about violence and the potential for violence against their drivers?

ALEX MACKAY: Absolutely. So this is true sort of around the world. I think in certain countries, violence becomes a little bit more of a concern. And what they found in Colombia is they did have more incidents where taxi drivers decided to take things into their own hands and threaten Uber drivers and Uber riders, sometimes with weapons. Another decision Uber had to make that was related to that was whether or not to allow riders to pay in cash. Because in the United States, they’d exclusively used credit cards, but in Latin America and some other countries like India, consumers tended to prefer to use cash to pay, and allowing that sort of opened up this additional risk that Uber didn’t really have a great system in place to protect them from. Because when you go to cash, you’re not able to track every rider quite as easily, and there’s just a bigger chance for fraud or for robbery and that sort of thing popping up.

BRIAN KENNY: Going into Asia was also quite a challenge for them. Can you talk a little bit about some of the challenges they faced, particularly in China?

ALEX MACKAY: They had very different experiences in each country in Asia. China was a unique case that is very fascinating, because when Uber launched there, there were already existing technology-based, you might call them, rideshare companies, that were fairly prominent, Didi and Kuaidi, And these companies later merged to be one company, DiDi, which is huge. It’s on par with Uber in terms of its global presence as a ridesharing company. When Uber launched there, they didn’t fully anticipate all the changes they would have to make to going into a very different environment. In China, besides having established competitors, Google Maps didn’t work, and they sort of relied on that mapping software to do their location services. So they had to completely redo their location services. They also, again, relied on credit cards for payments, and in China, consumers increasingly used apps to do their payments. And this became a little bit of a challenge because the main app that Chinese customers used, they used WeChat and Alipay primarily, they were actually owned by parent companies of the rival ridesharing company. So Uber had to essentially negotiate with its rivals in order to have consumers pay for their ridesharing services. And so here are a few sort of localization issues that you could argue Uber didn’t fully anticipate when they launched. The other thing about competing in China that’s sort of interesting is that Chinese policy regarding competition is very different from policy in the United States and much of Europe. For the most part, there’s not the traditional antitrust view of protecting the consumers first and foremost. That certainly comes into play, but the Chinese government has other objectives, including promoting domestic firms. And so if you think about launching into a company where there’s a large established domestic rival that certainly increases the difficulty of success, because when push comes to shove, the government is likely to come down on the side of your rival, which is the domestic company, and not the foreign entrant.

BRIAN KENNY: Yeah, which is understandable, I guess, to some extent. This sounds exhausting, to be sort of fighting skirmishes on all these fronts in all these different places in the world. How does that affect the morale or tear at the fabric maybe of the culture at a company like Uber, where they’re trying to manage this on a global scale and running into challenges every step of the way?

ALEX MACKAY: It certainly has an effect. I think Uber did a very good job at recruiting teams of people who really wanted to win. And so, if that’s the consistent message you’re sending to your teams, then these challenges may be actually considered somewhat exciting. And so I think by bringing in that sort of person, I think they actually fueled this desire to win in these markets and really kept the momentum going. One of the downsides of this of course is that if you exclusively focus on winning and getting around the existing regulations, there does become this challenge of what’s ethical and what’s not ethical? And in certain business areas, there actually often is a little bit of a gray line. I mean, you can see this outside of ridesharing. It’s a much broader thing to think about, but regulation of pharmaceuticals, regulation of use of new technologies such as drones, often the technology outpaces the regulation by a little bit and there’s this lag in trying to figure out what actually is the right thing to do. I think it’s a fair question whether or not you can disentangle this sort of principle of confrontation that’s so pervasive throughout the company culture when it comes to regulation from this principle confrontation of other ethical issues that are not necessarily business driven, and whether or not it’s easy to maintain that separation. And I think that’s a fair question, certainly worthy for debate. But what I think is important is you can set up a company where you are abiding by ethical issues that are very clear, but you’re still going to face challenges on the legal side when you’re developing a new business in an area with new technology.

BRIAN KENNY: That’s a great insight. I mean, I found myself asking myself as I got through the case, I can’t tell if Uber is the victim or the aggressor in all of this. And I guess the answer is they’re a little bit of both.

ALEX MACKAY: Yeah. I think it’s fair to characterize them as an aggressor, and I think you sort of need to be if you want to succeed and if you want to change the world in a new technology area. In some sense, they’re a victim in that we’re all the victim as consumers and as firms of regulations that are sometimes difficult to adapt in real time to changing market conditions. And there’s a good reason why they are sticky over time, but sometimes that can be very costly. Going back to something we talked about earlier, I think there are hardly any consumers that wanted Uber kicked out of New York City. I think everyone realized this was just so much superior to any other option they had, that they were really willing to fight to keep Uber around in the limited ways they could.

BRIAN KENNY: So let’s go back to the central issue in the case then, which is, how important is it to them, in terms of their global strategy, to have a presence in a place like London? They’re still not profitable by the way, we should point that out, that despite the fact that they are the largest in the space, they haven’t turned the corner to profitability yet. I would imagine London’s kind of important.

ALEX MACKAY: Absolutely. London is a key international city, and a presence there is important for Uber’s overall brand. So many people travel through London, and it’s a real benefit for anyone who travels to be able to use the same service at any city you stop in. At the same time, they’re facing these increasing regulatory pressures from London, and so it’s a real question whether or not, 10 years from now, they look substantially different from the established taxi industry that’s there. And you can kind of see this battle playing out across different markets. As another example, in Ghana. When they entered there, they actually entered with a framework for understanding. They helped build the regulations for ridesharing services in Ghana when they entered. But over time, that evolved to additional restrictions as the existing taxi companies pushed back on them. So I think a key lesson here in all of this is that the regulations that you see at any given point in time aren’t absolutely fixed, for anyone starting a technology-based company, there will be regulations that do get created that affect your business. Stepping outside of transportation, we can see that going on now with the big tech firms and sort of the antitrust investigations they’re are under. And the policymakers in the US and Europe are really trying to evolve the set of regulations to reflect the different businesses that Apple, Facebook, Microsoft, Google are involved in.

BRIAN KENNY: One thing we haven’t touched on, and it’s not touched on in the case obviously because it just sort of started fairly recently, is the pandemic and the implications of the pandemic for the rideshare industry as fewer people find themselves in need of going anywhere. Have you given any thought to that and whether that’s going to have any effect on the regulations?

ALEX MACKAY: It certainly could. Uber is in a somewhat fortunate position, at least if you judge by their market capitalization, with respect to the pandemic. Initially their stocks took a pretty big hit, but rebounded pretty quickly, and part of this is because the primary part of their business is the transportation through Uber X, but they do also offer the delivery services through Uber Eats, and that business has really picked up during this pandemic. There’s certainly a mix of views about the future, but I think most people do believe that at some point we’ll get back to business as usual, at least for Uber services, when we come up with a vaccine. I think most people anticipate that they’ll be resuming use of Uber once it becomes safe to do so. And I think, to be frank, a lot of people already have resumed using Uber, especially people who don’t have cars or who see it as a valuable alternative or a safer alternative to public transit.

BRIAN KENNY: Yeah, that’s a really good point. And the Uber Eats thing is interesting as another example of how it’s important for businesses to re-imagine the business that they’re in because that, in many ways, may be helping them through a really tough patch here. This has been a really interesting conversation, Alex, I want to ask you one final question, which is, as the students are packing up to leave class, what’s the one thing you want them to take away from the case?

ALEX MACKAY: So I would hope the students take away the importance of regulation in business strategy. And I think the case of Uber really highlights that. And if you look at the conversation around Uber I’d say for the first 10 years of their existence, it was essentially around the superiority of their technology and not so much how they handled regulation. If you think back to the cease-and-desist letter that San Francisco issued in 2010, if Uber had simply stopped operations then, we wouldn’t have the ridesharing world that we have today. So their strategy of principle confrontation with respect to regulation was really essential for their future growth. Again, this does raise important ethical considerations as you’re operating in a legal gray area, but it’s certainly an essential part of strategy.

BRIAN KENNY: Alex, thanks so much for joining us on Cold Call today. It’s been great talking to you.

ALEX MACKAY: Thank you so much, Brian.

BRIAN KENNY: If you enjoy Cold Call, you might like other podcasts on the HBR Presents Network. Whether you’re looking for advice on navigating your career, you want the latest thinking in business and management, or you just want to hear what’s on the minds of Harvard Business School professors, the HBR Presents Network has a podcast for you. Find them on Apple podcasts or wherever you listen. I’m your host, Brian Kenny, and you’ve been listening to Cold Call , an official podcast of Harvard Business School on the HBR Presents Network.

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How To Start Your Uber Business In 6 Weeks On A Lean Budget

As per the TomTom traffic index from over 50 countries, an average of 87 extra minutes was spent by people stuck in traffic jams. This has been dominated by the exponential growth of ride-hailing services such as Uber, Lyft, and Ola to name a few.  As the top cities get over congested, and real estate prices skyrocket, large businesses and companies are expanding to Tier 2 and Tier 3 cities. This means an increase in work commute amongst many others and therefore an opportunity to start your own ride-hailing and/or the ride-sharing company. On that note, today I am going to share some insights and tips on how to start your Uber business (i.e. ride-hailing service). This will be with or without owning a single car in 6 weeks with minimum resources and on a lean budget.

how to start your uber business

How to Start A Taxi Service Like Uber?

Thinking about how to start an Uber business? Starting an Uber, often called a ride-share company, can be profitable if done correctly. Starting an Uber business requires careful planning, compliance with regulations, and ongoing management. It’s essential to provide excellent service and ensure the safety of passengers to build a positive reputation and attract repeat customers. Additionally, staying updated on industry trends and adapting your business is crucial for long-term success.

Before we dive into the specifics of starting a ride-hailing business, we need to know how much it will cost to avoid shortfalls during the process.

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How Much Do You Need To Park Aside?

The ride-hailing businesses of the 21st century use technology and GPS to create a proper marketplace. This efficiently connects demand and supply, and is, therefore, able to offer a host of other features. The features include pricing matching tools, rating systems, safety features, etc. Though all these features come at a price. Now if you want to know the ultimate ways on how to start your Uber business, then you need to know about the cost estimation first.

Before we begin explaining the steps on how to start your Uber business, I will give you a fair estimate of the funds you will need to save, raise, or borrow to develop the app. 

It would be prudent to keep a contingency fund of 15-20% of the total funds required to prevent any capital shortage issues in the future. To create an app that includes all the features that Uber has, your approximate cost would be $30,000 . 

business plan of uber

All estimates are based on the number of development hours(~600 hrs) required to build in features such as rating, location intelligence, and user profile, etc. Since ride-sharing/hailing is a two-way platform an app for the suppliers/ driver is also a necessity. An additional $20,000 for this app as well. Keeping the contingency fund in mind, once you have $60,000 in the bank, you should take the plunge.

Now that we have our capital in place, we need to solidify on an actionable business model that can be implemented in 6 weeks to get our business off the ground.

Bonus Download: AllRide Cab Brochure

How To Start Your Uber Business? Focus On Business Model First

A ride-hailing business model as you may have already understood is quite simple. An online platform that is a two-sided marketplace. Riders generate the demand and drivers supply it and your app acts as a facilitator that provides a convenient and easy to use platform. As there’s no third party involved that causes any hindrances, you can charge a fee from both the driver and rider.

And in a marketplace model, one does not need to own any assets (such as cars of their own) or even hire drivers, they are listed as partners who as per contract only get paid based on the number of trips they make. This provides flexibility to the drivers while at the same time keeps your business lean and easy to manage.

Secondly and more importantly people are shifting to on-demand services as the model offers a plethora of benefits over traditional taxi services . Some examples are real-time tracking, exact ETA’s, convenient on-demand booking, various riding options, seamless online payments, and shorter wait times.

Related read: Expert Fuel Delivery Growth Strategy And Business Models

These advantages are consistent across all “uber-like business ideas” i.e. any marketplace model. Food delivery services such as Zomato and Uber eats, Household chores services such as TaskRabbit, and medical consulting such as Pager, Practo, are some of the best brand examples.

So, you can use this business model and plan with minor tweaks to fill any gap that you see in a market near you and want to capitalize on the opportunity.

Now that you have clarity on the various aspects of the business model, let’s move on to the steps required to implement it.

Weekly Action Plan For Your Uber-Like Business

If you are looking forward on how to start your Uber business from scratch, then you need to first come up with a weekly action plan. In order to ensure the business remains lean and efficient, we also need to follow a strict 6-week plan to avoid delays and therefore unnecessary increase in costs. The following steps are the business actions you need to make to have a solid foundation for your start-up that is scalable. The app development should happen simultaneously by the in-house or outsourced techies.

Week 1: Conduct your market research

Week 2: Choose the niche

Week 3: Select the business and revenue model – Business Plan Canvas

Week 4: Create the MVP (Minimum Viable Product) features

Week 5: Create a promotional/ marketing plan

Week 6: Begin beta testing and fine-tuning the app for final launch

Now, I will briefly take you through every step for you to get a clearer picture of the plan to be followed for a successful launch.

Related read: Beyond Uber – Success Stories of 5 Other Transportation Apps

Week 1: Do Your Market Research

Before you start doing anything else, it is essential for you to know and define your market. By this I mean, every business has various market-related factors that affect the business, some are in control of the owner, and some not so much. 

Therefore, conducting comprehensive research protects you from the risks and capitalizes on the opportunities. Good market research helps you in defining your target market , examining whether it is saturated, checking if there is a customer requirement/demand for your product, and getting to know your competition. 

To get a competitive advantage you will need to conduct the above research via both primary and secondary methods. Primary research would be your own first-hand research via surveys, meetings, calls, etc with suppliers, customers, vendors, etc. Secondary research would be collecting information from a variety of sources such as trade websites, demographic and economic data, business groups, local universities, etc, and then analyzing the info for your business.

Week 2: Choose Your Niche

Once the market research is complete you will be able to have a clear picture of the gaps and opportunities in the market. Based on this research clearly choose and define the niche that your business is going to get into or target. For example, if you live in Tier 2 or Tier 3 city and the roads are too narrow in most places for cars, or a lot of people own 2 wheelers you can start a bike ride-hailing/ sharing service . Take this week to define the field and/or a particular type of customer you want to target.

Week 3: Select The Business/ Revenue Model

Now that you have a clear idea of your market and business, you need to select how you want to monetize the app . At the same time, to clearly define all major aspects of your business model, create a business plan canvas. 

You can use the template and guidelines from the links here . Once this is done, you can look at the following ways to bring in revenue for your start-up: Free app with advertising, Freemium model (the app is free but certain premium features have to be paid for by the customers) and In-app purchases(eg the supplier to be listed on top of the homepage).

Related read: Want To Make An App Like Uber? 7 Things You Need To Consider

Week 4: Create The MVP

Now that all the ‘business’ work is on-road before you go ahead and launch a full-fledged app, it would be prudent to choose the MVP you want to start off with. Launching the entire stack one go, reduces flexibility to make changes, is more time consuming and expensive. Just the basic features that are required to get the app up and running should be good enough. 

MVP

As an MVP expert Eric Ries says , “MVP is the version of a new product that allows you to collect the maximum of validated learning about your end customers, with least effort!” These could include things like; driver app, customer app, admin panel. These are just some examples that you need to customize as per your business needs. And more importantly to understand the advantages and steps that follow after your MVP is built, click here.

Week 5: Create A Promotional/ Marketing Plan

We are almost there. Now that the business and product seem to be in place, we need to take it to market. Having a concrete marketing plan is, therefore, crucial. A great marketing strategy covers the following areas; channels to be used, a detailed customer profile of the TG, and the campaigns that are going to run on the channels. Also, remember to keep a small marketing budget as a part of your funds.

Week 6: Beta Testing And Fine-Tuning

Final step. Select a group of customers, ideally, the group should be as eclectic as possible to get more holistic feedback . Friends, relatives, colleagues, and other random people could be a good way of collecting beta testers. Launch your app and send it out to this group. After which you collect detailed feedback on the UI, UX, and a general opinion of the business. 

uber-like app

This will give you the fodder to fine-tune, make changes, edits, and additions to your app, and get you ready for the final market launch. Remember this last step may take slightly longer than expected, but be patient as a glitchy, incomplete app is much worse than a slight delay. Keeping that in mind, you are ready to go to the market and conquer.

All Set To Initiate Your Uber-Like Business Launch?

To summarize what we learned today, it will cost anywhere between 50-60k USD to build an Uber-like business and take 6 weeks. In those 6 weeks, you do your market research, choose a niche, channelize your revenue model, build your MVP, create a marketing plan, and do the beta testing. Still wondering how to start your Uber business? Then look no further. Our team of highly qualified, efficient, and easy-to-work-with developers, can give you a good bang for your buck, and get you developed your dream Uber-like app .

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Given the situation the world is in today, finding opportunity in a time of crisis can be done by starting businesses that serve as an essential needs to the consumers. And secondly, by efficiently harnessing the power of underutilized resources we can create a win-win situation for producers, suppliers, and customers. So what are you waiting for, go for it. 

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Swarnendu De

Swarnendu De is the Co-founder of AllRide Apps . He leads the product, sales, and marketing divisions at AllRide. Swarnendu is also the co-founder of Innofied Solutions , a technology company helping SMEs and Enterprises in digital transformation, product strategy, and development. With more than 15 years of industry experience, Swarnendu has been the author of top technology books, a speaker at numerous events, a mentor to startups, and has more than 10,000 online students. He has helped more than 600 businesses launch their tech products. Connect with Swarnendu on LinkedIn .

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How To Launch Your Medicine Delivery Business?

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COVID- 19 And The Meteoric Surge For On-Demand Delivery Businesses

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Uber Business Plan Sample

JUL.26, 2022

Uber Business Plan Sample

Uber taxi business plan for starting your own business

Do you want to create ease for people on every road they go and every turn they run? You must start an uber business then. By starting this business, you will become a part of the global transport network. You will be using the software and setup that has already been created. And thus starting it would not be much difficult.

To embark on this journey, the first step is to research what is uber business model and then create an extensive strategic business plan. Since this startup would be a lot different than others, we are providing a sample business plan for uber for an uber startup in Manhattan.

Executive Summary

2.1 the business.

Charles Ben will be running the uber business franchise in Manhattan. The business will initially operate in just one city. However, within two months, the network will be expanded to the neighboring cities as well.

2.2 Management of uber taxi business

If you are starting an uber business, you do not have much to decide on your own. It is because you will have to comply with uber operating model and your choices would be limited. So to manage the business and make sure that the business operates in line with the set guidelines, you will need to make uber business plan.

Ben did the same, He studied uber business models, undertook an exhaustive research on how does uber for business work before creating uber business plan for a franchise.  In this uber business plan pdf we will be giving the uber business model explained and developed by Ben free of cost for everyone’s benefit.

2.3 Customers of the uber taxi business

The customers of uber business will the same as are mentioned in taxi business plan and transport business plan . They are:

  • Senior Citizens
  • Professionals

2.4 Business Target

Our long-term target is to expand to at least one more location within a year. The short-term goals include attaining a CSAT score of more than 90 and increasing the no. of customers by 5% every month for the first year. The financial targets are given as:

Uber Business Plan - 3 Years Profit Forecast

Company Summary

3.1 company owner.

Charles Ben will be the owner of the uber franchise in Manhattan. Charles is an MBA from a prestigious institute in the U.S. He initially decided to start a bus transportation business. But later, he went for purchasing a franchise.

3.2 Why the uber taxi business is being started

Ben started the uber business because of his special interest in transportation businesses. Upon thorough research, he figured out that the uber business will be both easy to run and profitable for him as compared to the bus business. 

3.3 How the uber taxi business will be started

To start the uber business, the first thing to do is to understand what is uber for business, how the uber model works, and how does uber make money. After that study uber type businesses and follow the following steps.

Step1: Develop Uber Taxi Business Plan

Making a business plan of an uber will be your first toward entering this venture. To help you in this we are offering uber business plan sample for the franchise Ben acquired. According to your agreement with the uber company, you may also access uber original business plan. 

Step2: Market Your Venture

Getting to your customers will be the next step. For this, you will have to carry out an exhaustive marketing strategy. In this uber cab business plan we will list the sales strategy adopted by Ben to use online and offline media in his favor.

Step3: Web Presence is a Must

Since the business activities will depend on your online presence, establishing a strong website is a must as you enter this venture.

Step4: Recruit and Serve

The last step is to reach the drivers and make your package attractive for them so they join you and service the customers in their best interests.

Uber Business Plan - Startup Cost

Services of uber taxi business

Since the uber franchise will not operate in an isolated fashion, it is important to realize that you will be providing only those services that come in the sphere of uber operating model. In this uber driver business plan all those services will be listed.

Moreover, the personnel required to maintain the operations will also be given in this uber business plan template. Thus, your queries regarding what is the uber business model will be addressed.

Like the global uber network, services of the uber franchise started by Ben will provide the following services:

  • Standard Rides

As per the uber car service business plan, the foremost service will be the provision of standard rides. They will be affordable for daily use and routine commute. This service will provide rides on Hatchback and Sedan cars mostly.

  • Premium Rides

For use in VIP events and weddings, we will also offer rides in luxurious cars and SUVs.

  • Pickup & Delivery

One of our major services will be the offering of pickup and delivery options to our customers. Our drivers will procure the desired food items from any location in Manhattan to deliver them to the consumers. For more details, you can also visit business plan uber eats.

Besides food, the pickup service for shifting house and office appliances will also be provided.

We will also provide the facility to ride bikes that can carry two people.

To reach a maximum of people, we will provide packages and discounts on special festivals and events. In this uber partner business plan we will specify the discount strategy adopted by Ben in his business plan uber. 

Marketing Analysis of uber taxi business

Great service.

Great service. Good turnaround time and quality work. Thanks!

If you are wondering how to open an uber franchise you are in the right space. After going through the initial procedure to get an uber taxi franchise you should study who your customers and riders are going to be. This will help you evaluate the uber franchise cost. While carrying out the market analysis for how to start a business with uber you should also study other uber type businesses to know how others are doing in the domain.

In this business plan of uber, we will be answering all your queries regarding uber starting such as how to franchise uber taxi or uber is from which country. You will also discover uber strategies and ideals for setting up an uber cabs company.

5.1 Market Trends

The market trends for uber business are promising . According to IBISWorld, the ride-sharing services and uber business are expected to increase over the next five years i.e. from 2022 to 2027. Due to ever-increased awareness of the environment and air pollution, people are opting for using public transport and uber in shared rides instead of owning a car. 

5.2 Marketing Segmentation

The customers of uber business will belong to various lifestyles and ages. Major customers will be the ones who do not either possess the capability to own a car and parking space or prefer to not drive themselves.

The groups of target customers as identified by Ben are given in this uber business plan.

Uber Business Plan - Marketing Segmentation

UK Start-Up Visa Business Plan

5.2.1 students.

This is the category that does not own their cars and cannot do so. This will be our biggest group of target customers as students have to move from their home space to the educational institute on day to day basis.

5.2.2 Senior Citizens

The second biggest category of our target customers includes senior citizens. They are expected to use uber because they prefer to not drive even when they own a car to avoid anxiety and tension.

5.2.3 Tourists

The third category comprises tourists who cannot own a vehicle as they move.

5.2.4 Professionals

People who do jobs usually possess a car or any vehicle for the commute. However, still, some of them are expected to avail themselves of uber services.

5.3 Business Target

Setting business targets help you in devising the future course and strategy. The goals as per business plans for trucking company and logistics business plans are usually related to the fiscal benefits. Ben, however, went for a different approach as he focused also on customer satisfaction and retention in his transportation business plan .

The business targets of the Uber franchise as started by Ben are as follows:

  • Acquire a CSAT score of 90+ within a year of the launch
  • Expand the customer base by 5 percent every month for the first year
  • Start making at least $30k in monthly profits by the end of the first five years 

5.4 Product Pricing

The pricing will be based on the Uber guidelines and will be set as such to make the rides more and more affordable for the people.

Marketing Strategy of uber taxi business

After you have known how to start a uber business and you fulfill all the requirements to start a uber cab franchise, you should start looking for marketing ideas. Uber startup is distinct from other transport businesses or tipper truck business plan . Therefore, you will have to advertise two ways to gain the target customers as well as drivers.

6.1 Competitive Analysis

  • We will be offering many types of packages and discounts .
  • We have an excellent sales marketing team who will market how safe it is to travel with us. 

6.2 Sales Strategy

The advertisement techniques as per uber business strategy are given here.

  • Advertising the business on social media and through newspapers and magazines
  • Creating awareness of how using Uber is both more affordable and convenient than buying a car
  • Offering regular packages on a monthly and weekly basis to customers who use Uber on a daily basis
  • Offering a 20% discount on standard rides on festivities and cultural events

6.3 Sales Monthly

Uber Business Plan - Sales Monthly

6.4 Sales Yearly

Uber Business Plan - Sales Yearly

6.5 Sales Forecast

Uber Business Plan - Unit Sales

Personnel plan of uber taxi business

While creating uber strategy and planning, you have to outline a list of the personnel you will need to run your business. In this uber business plan pdf we are providing the personnel plan of the uber franchise of Ben.

7.1 Company Staff

Under this business plan for uber, these positions will be hired for:

  • 1 Operation Manager
  • 1 Social Media Manager
  • 1 Sales Executive
  • 2 Software Manager
  • 2 Customer Care Executives
  • 1 Business Consultant

7.2 Average Salary of Employees

Financial plan of uber taxi business.

If you are considering uber for startups you must want to know how much you can build in return for your investments. As you can see in this uber business plan pdf Ben started making huge profits within only three years of the launch. Therefore, if you manage the business successfully you can make your way through it too.

The cities in which uber makes an immense profit might make you wonder why is uber so successful there. The fact is, the better you market and convince the users to use your service, the more you are going to earn.

The financial details of the uber franchise started by Ben are given here:

8.1 Important Assumptions

8.2 break-even analysis.

Uber Business Plan - Break-even Analysis

8.3 Projected Profit and Loss

8.3.1 profit monthly.

Uber Business Plan - Profit Monthly

8.3.2 Profit Yearly

Uber Business Plan - Profit Yearly

8.3.3 Gross Margin Monthly

Uber Business Plan - Gross Margin Monthly

8.3.4 Gross Margin Yearly

Uber Business Plan - Gross Margin Yearly

8.4 Projected Cash Flow

Uber Business Plan - Projected Cash Flow

8.5 Projected Balance Sheet

8.6 business ratios.

All tables in PDF

  • How do I start the Uber business?

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 cab business plan for your own business/ franchise, hiring the staff, arranging the stuff, and marketing your venture.

  • What is Uber’s business model?

The Uber business model is that you provide a platform for the drivers to connect with the people who want to take a ride. As the business owner, you have to ensure that the drivers fulfill the criteria of licensing, national identity, etc. Moreover, you will be responsible for making the experience safe and affordable for your users. For further information, you can visit uber original business plan.

  • How do I open an Uber office?

You have to first meet the legal requirements and licensing pre-requisites that are unique to your locality and service area. Then, you have to enter the legal agreement with uber to start a franchise and make further arrangements. The further steps can be studied in detail from this uber partner business plan. In this uber business plan in we have provided all details on how Ben started his Uber office successfully in Manhattan.

Download Uber Business Plan Template in PDF

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Uber Business Plan Template

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Uber Business Plan Template - Product Image

Elevate your ride-sharing venture with our comprehensive Uber Business Plan Template, designed meticulously for aspiring entrepreneurs and businesses. This template provides a robust framework that guides through market analysis, financial planning, marketing strategies, and operational insights specifically tailored for the ride-sharing industry. Our user-friendly, adaptable model enables you to navigate through the competitive landscape, helping ensure sustainable growth and profitability. Ideal for startups and SMEs in the transport sector, it becomes an indispensable tool for a well-structured business pathway.

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Table of Contents

Introduction

Starting an Uber business can be lucrative, but just like any venture, it demands a concrete business plan. As the world moves to a more digital-first approach, the demand for ride-sharing and food delivery services like Uber continues to soar. This article will provide a comprehensive template to guide budding Uber business enthusiasts.

Our Uber Business Plan Template

A robust business plan acts as a roadmap. It pinpoints your destination (goals) and the path (strategy) you’re taking to get there. While many aspects go into a business plan, the key elements include understanding your business model, knowing your target customers, deciding on ride options, and understanding market trends.

Keys of Business Plan

Executive summary.

The executive summary offers a snapshot of your Uber business. It must be compelling and should provide an overview of the business model, highlighting how Uber drivers will be managed, how you intend to cater to different types of customers, and what makes your Uber business unique.

Uber Business Plan Template - Executive Summary

Mission and Vision

What is your vision? Where are you looking at yourself in the next 1 year or more? Vision tells about the company’s vision of what it wants to provide and where it wants to be in the next few years. Mission Statement is the shorter form of Vision. That is, what is the company currently doing to achieve its Vision?

Uber Business Plan Template - Mission Vision

What are the long-term and short-term objectives of the company? Objectives are the goals set by the company to achieve its Mission and Vision over a longer time period.

Uber Business Plan Template - Objectives

Problem Statement

The problem statement identifies the problem or gap that the company is filling. This highlights the key areas in which the company is working on.

Uber Business Plan Template - Problem Statement

The solution gives detailed information on how the company is going to solve those problems that they have identified in the market. What benefits will they be providing to their customers and users of their platform?

Uber Business Plan Template - Solution

Market Analysis

Understanding your market is vital. Engage in a market survey to gather data. Delve into customer analysis: Who are your target customers? What do they want? Also, analyze the increasing demand for food delivery and how it affects your business strategy.

Uber Business Plan Template - Market Analysis

SWOT Analysis

Every business has strengths, weaknesses, opportunities, and threats. By analyzing these, you can craft strategies to capitalize on strengths and opportunities while mitigating weaknesses and threats.

Uber Business Plan Template - SWOT Analysis

Competitive Analysis

In a market dominated by Uber, Lyft, and other local competitors, where do you stand? A competitive analysis will provide insights into market share, customer relationships, and business strategies of competitors.

Uber Business Plan Template - Competitors Analysis

Marketing Plan

How do you plan to attract riders and drivers? Draft marketing plans considering market trends, types of customers, and the unique selling points of your Uber business. Remember, maintaining good relationships with Uber drivers is as essential as with riders.

Uber Business Plan Template - Marketing Plan

Set clear, actionable milestones. Whether it’s acquiring a certain number of drivers, reaching a specific number of rides, or hitting a revenue goal, clear milestones help track progress.

Uber Business Plan Template - Milestone

Financial Plan

Your financial plan should include an income statement, financial statement, and projections. Consider factors like the cost of capital, source of income, surge pricing, and cancellation fee.

Uber Business Plan Template - Financial Plan

Frequently Asked Questions

What is an uber business plan, and why do i need one.

An Uber Business Plan is a detailed document outlining the business model, strategies, and operations plan of an Uber business. It serves as a roadmap, offering clarity on the Uber business model, which involves managing Uber drivers, catering to target customers, providing varied ride options, and potentially delivery services. A robust business plan is essential to secure investments, understand market trends, and ensure your business structure is optimized for profitability.

How do I create a compelling executive summary for my Uber business plan?

A compelling executive summary emphasizes the unique aspects of your Uber business model, highlighting your strategies for driver recruitment, the types of customers you target, and your differentiation from competitors. Dive into your revenue model, touch on how you handle surge pricing and cancellation fees, and articulate your long-term vision, showing investors and stakeholders you have a comprehensive grasp of the industry and market trends.

What market research should I include in my Uber business plan?

Your Uber business plan should have a rigorous customer analysis derived from a market survey. This analysis would provide insights into different types of customers, their preferences for ride options, and the potential for autonomous vehicles. An industry analysis detailing market share, demand for food delivery, and the role of autonomous vehicles will further solidify your business’s potential. Recognize emerging market trends and detail how they influence your Uber business strategies.

What are the key components of a financial plan for an Uber-based business?

A financial plan for an Uber business must include an income statement, a financial statement, and projections for future growth. It should address how you’ll handle upfront pricing, potential sources of income like surge pricing, and factors affecting the cost of capital. Your financial plans should also elucidate the revenue model, addressing factors like cancellation fees and other potential streams.

How can I estimate the startup costs for my Uber business?

Estimating startup costs requires a detailed analysis of all potential expenses. This includes the cost of acquiring vehicles, onboarding Uber drivers, marketing plans, technology setup, and any regulatory compliance costs. Perform a Company Analysis, considering both fixed and variable costs, and factor in potential cost-saving measures, like introducing autonomous vehicles.

What strategies can I use to attract and retain Uber drivers for my business?

Building strong customer relationships is key, not just with riders but also with your Uber drivers. Offer competitive incentives, flexible work hours, and consider strategies that cater to the unique needs of each cab driver. Understand that they’re a crucial part of your business model and that their satisfaction directly impacts your business’s success.

What steps should I take to ensure regulatory compliance for my Uber business?

Regulatory compliance in the ride-sharing industry involves understanding regional laws, getting necessary permits, and ensuring both drivers and vehicles meet set standards. Keeping abreast of industry analysis can alert you to changing regulations. Also, consider consulting legal professionals familiar with the ride-sharing space.

How do I determine pricing and fare structures for my Uber services?

Determine pricing by conducting a competitive analysis, understanding your cost of operations, and gauging customer preferences through market surveys. Your fare structure should account for factors like surge pricing, distance, demand, and any promotional strategies you might adopt.

What marketing and promotional strategies work best for an Uber business?

Effective marketing plans for an Uber business often leverage social media, local partnerships, and rider discounts. Building customer relationships, offering referral incentives, and understanding the detailed preferences of your target customers can further enhance your promotional strategies.

What technology and software tools are essential for managing an Uber business?

Management tools that offer real-time tracking, efficient dispatch, fare calculation, and customer feedback are crucial. As the future leans towards autonomous vehicles, ensuring your technology is adaptable and scalable becomes even more vital.

How can I ensure the safety and security of both drivers and passengers in my Uber business?

Safety measures include thorough background checks for drivers, providing training sessions, and integrating emergency response features in the app. Regular vehicle inspections and promoting a culture of feedback can further elevate safety standards.

What insurance and liability considerations should I be aware of in the ride-sharing industry?

Understand the insurance requirements in your region. Most areas mandate liability insurance, comprehensive coverage, and potential additional coverage specific to ride-sharing.

What are the potential challenges and risks associated with starting an Uber business?

Challenges include regulatory hurdles, competition, and the need for significant initial investment. The industry’s dynamic nature, with evolving market trends and the looming introduction of autonomous vehicles, adds to the risk.

How do I develop a competitive analysis for my Uber business plan?

Competitive analysis involves understanding your competitors’ business strategies, market share, and strengths and weaknesses. Using this information, identify gaps in the market and areas where you can offer better value or services.

What are the growth prospects and scalability of an Uber-based business?

The growth prospects are immense, given the demand for ride-sharing and food delivery services. With technology advancements, especially in autonomous vehicles, scalability is vast. As urban areas grow, the need for such services will only increase, offering more opportunities for expansion.

Running a successful Uber business goes beyond just understanding the Uber business model. It’s about tailoring a strategy, understanding your market, and continuously adapting. With this template, you’re well on your way to charting a course for a lucrative ride-sharing or delivery service venture.

INSTRUCTIONS TO ACCESS YOUR PURCHASE:

  • Order Completion : Once your order is finalized, a download link for your files will be available in your dashboard.
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  • Finalize and Share : After customization, download your design and showcase it on your social media platform.

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Pitch deck faqs.

Once your order is finalized, you can access a download link for your files directly from your dashboard.

To retrieve your document, simply proceed to your dashboard and download the provided PDF document.

Yes, you will need to register for a complimentary Canva account or log in to your existing Canva account to engage with the template.

Open the PDF you downloaded and select the highlighted LINK (mentioned on the last page) within it. This link will redirect you to your specific Canva template.

Absolutely! Within Canva, you are free to adjust colors, fonts, images, and other elements to ensure the design matches your branding specifications.

After you have finished customizing your design, you can download it from Canva and showcase it on your preferred social media platform.

Yes, Indeed! Our Team has developed more than +1000 Financial Models on different industries and sectors that have closed $100M in deals and investment for companies.

Check out our Financial Model Library and have more 1000+ Financial models available here . 

Also check out our Customize Financial Model services plans here .

Yes, Indeed! Our Team has developed more than +500 Business Plan on different industries and sectors that have closed $100M in deals and investment for companies.

Check out our Business Plan Templates library more +500 Business Plan available here.

Also check out our Customize Business Plan services packages here .

Financial model faqs

An Oak Business Consultants Provides Various Financial Model Templates; each industry model has unique revenue and input assumptions based on the industry nature and operation requirement. We have dug into almost every industry and have built 100+ models for every specific niche market.

For Example; a website has a general base model for e-commerce business and several other businesses that come under the E-commerce industry like Online Clothing Business and Online Toy Store, etc.

The pre-built financial models are made to help an entrepreneur, by giving them financial projections for their business. These models provide a prebuilt detail and structure to those who have a similar business revenue model as already available on the website. However, if you have a business model which is unique and have several different revenue streams. Therefore, you need Buy Customization Plans financial model services where you can avail of modeling services as per your business nature and operation requirements. 

All pre-built models are Comprehensive and dynamic, designed by expert professionals by considering all the elements any business requires while computing the financial feasibility of the business. The financial model template will provide the assistance to compute the startup summary, detailed monthly and yearly profit and loss statement, balance sheet, cash flow Analysis, and Break-Even Output summary. The template also has project evaluation reports and diagnostic sheets which will allow you to determine the company’s performance in a specified period of time. Moreover, a visual representation of these reports is compiled on a dashboard to make a convenient report overview for the user.

The models will be in Microsoft Excel file format, and they are immediately available for download after making the purchase. A model can redownload at any time in the future from the same account.

The optimal way to use the model is to familiarize yourself first with how the model is linked and structured. There are already detailed instructions on howdetailed how to use the description mentioned under each product profile.

Moreover, then start with the input sheet with the most important assumptions, and start filling in the inputs as per your business information which is clearly labeled and formatted in a pink color cell. For Example; If your region tax rate is 25% so fill it under the tax field, which is already highlighted so then a model will automatically compute all related calculations. The same procedure will go with all operating and variable cost sections, which are mentioned in the model.

Next comes the revenue-related input; then go through the inputs around growth rate, churn rate, prices, and cost of sales, etc. These inputs will be changed from industry to industry; however, the basic structure is the same.

So far, you’ll get basic forecast reports, and now it comes down to looking at the Summary and Key Reports sheet(s) to see if the estimation makes logic: net income, gross margin and net cash flow, etc. Refine and iterates the inputs until you get a final result that makes sense for your business and your industry.

The Financial models are in xls. File format. We would recommend to use Excel or Google Sheets to develop and edit financial models. In practice, We use Excel to build and edit models and Google Sheets to share with clients. Because Excel is usually a faster software for building and designing with so many features, however, Google Sheets can make it convenient for sharing models with the user.

Our models can be used in both Excel and Google Sheets interchangeably; simply upload the Microsoft Excel model template into Google Sheets, and everything will be ready to go.

Undoubtedly Yes! All formulas’ cells and sheets are completely editable and open. Therefore, you can edit anything as per your requirement. But, you must need to consider the cell linkage first before making any change.

How to Edit the Mode? All peach Areas are your INPUT CELLS. Please fill the PEACH AREA as per your Business situation. All WHITE and COLORED CELLS are CALCULATED and LINKED CELLS.

The Model is easy to use, dynamic and Transparent. We did not use complex formulas to build the Pre-built Financial Model or Financial Template.

Yes, We provide Half an Hour of free consultancy. We help you to explain

  • The flow of Pre- Built Financial Model
  • Explain Financial Terminology
  • Explain How the Pre-built Financial Model work.

You can fix a meeting time with our Expert Financial Consultant and avail yourself of this opportunity to have one to one call with him/her.

Business Plan faqs

Oak Business Consultant can easily accommodate any industry and already has 100+ Pre Built Business Plan samples that help you along the way. Whether you’re a small or mid-sized business, freelancer, or literally any industry sector from tech to real estate to salon and restaurant. We do extensive research before writing a business plan so that each business plan is quite different from another according to its business nature and operation requirements.

At Oak Business Consultant, we ensure that each and every business plan is customized for every industry. Such as;

  • Real Estate  
  • Education ,
  • Entertainment etc.

Our team of experienced consultants and business analysts does not only ensures high-quality templates but also provides business consulting services to enhance your idea. However, these Pre Built Business Plan Templates are general. You will require our customized plan services and if your business idea is unique and generates revenue from various different streams.

Apart from the general pre-built business plan template, we provide three kinds of business plan customized services and Each plan package offers a variety of services based on its price.  

  • Comprehensive

For Example in Basic Plan, a 10 to 15 pages business plan with a three-year financial model, completely customized according to your business nature and idea. However, in the Comprehensive package, the packages will be based on 30 to 35 pages with 5 Years of financial analysis.

We have several business planning packages. Each package is developed keeping in mind the scale of the business industry and the purpose of the business plan. We provide extremely competitive and affordable pricing for business plans.

If you need help with choosing the right package please feel free to reach one of our consultants. We are available here to support your queries.

https://oakbusinessconsultant.com/contact-us/

The average venture capital company receives several business plans every day and they only invest in a handful of 1%. You need such a comprehensive and deal proven business plan to capture investment attention. Oak Business Consultant Provides you a dynamic business plan which not only jotted down your ideas into a well-structured format but also provides all essential market and financial analysis which would be eye-captured information to the investor.

We work with minimal inputs. We only require the basic information in the brainstorming and developing process. The basic questionnaire involves Brand Name, a Brief Description of the company and your Idea, Target you will earn your revenue? and Why do you think people would need your products/services? and What is the range of initial investment you are looking at? And what plans for your company? These questions will ask as a starting point for your project. 

We always encourage our clients to share other information related to their future operations that might have. In case more information is required, our team will contact you.

We work in a collaborative manner via phase to phase communication approach. We acknowledge that you would know your business idea better than anyone. We bring along years of experience and industry best consultants to help you enhance your idea into a venture.

We work in a phased manner. Every interim deliverable related to the business plan will be sent to you for review. We acknowledge that you would know your business idea better than anyone So that We would encourage you to go through the drafts and give us your feedback. Our consultants will have a discussion on your review comments. On the basis of the discussion, we will modify the drafts. For every phase, we will take a maximum of two update requests of each phase into consideration. We would request you to give us a complete and specific set of feedback.

The business plan template design would be a part of the package. The draft version would be written in a normal word document; however, once a consultant is done with the content. A non-designed business plan goes into the in-house graphic team that turns the non-designed version into an aesthetically appealing template by considering the brand color theme and industry nature.

Market Research report faqs

We offer three variations: Basic, Advanced, and Comprehensive.

Basic includes a PDF report; Advanced adds Excel files; Comprehensive includes PDF, Excel, and PowerPoint.

Yes, we offer a 7-day complimentary consultation post-purchase.

Reports are for single-user only and not for commercial sharing.

Data is up-to-date as of the report’s publication.

Digital reports are delivered instantly; customized reports may vary as per the requirements.

We offer ongoing support for any post-purchase inquiries. You can contact by email [email protected] or book a meeting with https://calendly.com/oakbusinessconsultant/30min

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How to write a business plan for an Uber cab?

Uber cab business plan

Creating a business plan for an Uber cab is an essential process for any entrepreneur. It serves as a roadmap that outlines the necessary steps to be taken to start or grow the business, the resources required, and the anticipated financial outcomes. It should be crafted with method and confidence.

This guide is designed to provide you with the tools and knowledge necessary for creating an Uber cab business plan, covering why it is so important both when starting up and running an established business, what should be included in your plan, how it should be structured, what tools should be used to save time and avoid errors, and other helpful tips.

We have a lot to cover, so let's get to it!

In this guide:

Why write a business plan for an Uber cab?

  • What information is needed to create a business plan for an Uber cab?
  • What goes in the financial forecast for an Uber cab?
  • What goes in the written part of an Uber cab business plan?
  • What tool can I use to write my Uber cab business plan?

Having a clear understanding of why you want to write a business plan for your Uber cab will make it simpler for you to grasp the rationale behind its structure and content. So before delving into the plan's actual details, let's take a moment to remind ourselves of the primary reasons why you'd want to create an Uber cab business plan.

To have a clear roadmap to grow the business

Running a small business is tough! Economic cycles bring growth and recessions, while the business landscape is ever-changing with new technologies, regulations, competitors, and consumer behaviours emerging constantly.

In such a dynamic context, operating a business without a clear roadmap is akin to driving blindfolded: it's risky, to say the least. That's why crafting a business plan for your Uber cab is vital to establish a successful and sustainable venture.

To create an effective business plan, you'll need to assess your current position (if you're already in business) and define where you want the business to be in the next three to five years.

Once you have a clear destination for your Uber cab, you'll have to:

  • Identify the necessary resources (human, equipment, and capital) needed to reach your goals,
  • Determine the pace at which the business needs to progress to meet its objectives as scheduled,
  • Recognize and address the potential risks you may encounter along the way.

Engaging in this process regularly proves advantageous for both startups and established companies. It empowers you to make informed decisions about resource allocation, ensuring the long-term success of your business.

To anticipate future cash flows

Regularly comparing your actual financial performance to the projections in the financial forecast of your Uber cab's business plan gives you the ability to monitor your business's financial health and make necessary adjustments as needed.

This practice allows you to detect potential financial issues, such as unexpected cash shortfalls before they escalate into major problems. Giving you time to find additional financing or put in place corrective measures.

Additionally, it helps you identify growth opportunities, like excess cash flow that could be allocated to launch new products and services or expand into new markets.

Staying on track with these regular comparisons enables you to make well-informed decisions about the amount of financing your business might require, or the excess cash flow you can expect to generate from your main business activities.

To secure financing

A detailed business plan becomes a crucial tool when seeking financing from banks or investors for your Uber cab.

Investing and lending to small businesses are very risky activities given how fragile they are. Therefore, financiers have to take extra precautions before putting their capital at risk.

At a minimum, financiers will want to ensure that you have a clear roadmap and a solid understanding of your future cash flows (like we just explained above). But they will also want to ensure that your business plan fits the risk/reward profile they seek.

This will off-course vary from bank to bank and investor to investor, but as a rule of thumb. Banks will want to see a conservative financial management style (low risk), and they will use the information in your business plan to assess your borrowing capacity — the level of debt they think your business can comfortably handle — and your ability to repay the loan. This evaluation will determine whether they'll provide credit to your Uber cab and the terms of the agreement.

Whereas investors will carefully analyze your business plan to gauge the potential return on their investment. Their focus lies on evidence indicating your Uber cab's potential for high growth, profitability, and consistent cash flow generation over time.

Now that you recognize the importance of creating a business plan for your Uber cab, let's explore what information is required to create a compelling plan.

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Information needed to create a business plan for an Uber cab

Drafting an Uber cab business plan requires research so that you can project sales, investments and cost accurately in your financial forecast, and convince the reader that there is a viable commercial opportunity to be seized.

Below, we'll focus on three critical pieces of information you should gather before starting to write your plan.

Carrying out market research for an Uber cab

Carrying out market research before writing a business plan for an Uber cab is essential to ensure that the financial projections are accurate and realistic.

Market research helps you gain insight into your target customer base, competitors, pricing strategies and other key factors which can have an impact on the commercial success of your business.

In particular, it is useful in forecasting revenue as it provides valuable data regarding potential customers’ spending habits and preferences.

You may discover that Uber cab users are more inclined to book rides for longer distances than they did previously, for example.

This information can then be used to create more accurate financial projections which will help investors make informed decisions about investing in your Uber cab.

uber cab business plan: successful entrepreneur

Developing the marketing plan for an Uber cab

Before delving into your Uber cab business plan, it's imperative to budget for sales and marketing expenses.

To achieve this, a comprehensive sales and marketing plan is essential. This plan should provide an accurate projection of the necessary actions to acquire and retain customers.

Additionally, it will outline the required workforce to carry out these initiatives and the corresponding budget for promotions, advertising, and other marketing endeavours.

By budgeting accordingly, you can ensure that the right resources are allocated to these vital activities, aligning them with the sales and growth objectives outlined in your business plan.

The staffing and equipment needs of an Uber cab

As you embark on starting or expanding your Uber cab, having a clear plan for recruitment and capital expenditures (investment in equipment and real estate) is essential for ensuring your business's success.

Both the recruitment and investment plans must align with the timing and level of growth projected in your forecast, and they require appropriate funding.

An Uber cab might incur staffing costs such as driver wages, petrol expenses, vehicle insurance, vehicle maintenance, taxes, and other operational costs. It might also incur costs related to the equipment and technology used to operate the business, such as the purchase of a smartphone and a GPS tracking system.

To create a realistic financial forecast, you also need to consider other operating expenses associated with the day-to-day running of your business, such as insurance and bookkeeping.

With all the necessary information at hand, you are ready to begin crafting your business plan and developing your financial forecast.

What goes into your Uber cab's financial forecast?

The objective of the financial forecast of your Uber cab's business plan is to show the growth, profitability, funding requirements, and cash generation potential of your business over the next 3 to 5 years.

The four key outputs of a financial forecast for an Uber cab are:

  • The profit and loss (P&L) statement ,
  • The projected balance sheet ,
  • The cash flow forecast ,
  • And the sources and uses table .

Let's look at each of these in a bit more detail.

The projected P&L statement

The projected P&L statement for an Uber cab shows how much revenue and profit your business is expected to make in the future.

example of projected profit and loss statement in a Uber cab business plan

A healthy Uber cab's P&L statement should show:

  • Sales growing at (minimum) or above (better) inflation
  • Stable (minimum) or expanding (better) profit margins
  • A healthy level of net profitability

This will of course depend on the stage of your business: numbers for a startup will look different than for an established Uber cab.

The forecasted balance sheet of your Uber cab

The projected balance sheet of your Uber cab will enable the reader of your business plan to assess the overall financial health of your business.

It shows three elements: assets, liabilities and equity:

  • Assets: are productive resources owned by the business, such as equipment, cash, and accounts receivable (money owed by clients).
  • Liabilities: are debts owed to creditors, lenders, and other entities, such as accounts payable (money owed to suppliers).
  • Equity: includes the sums invested by the shareholders or business owners and the profits and losses accumulated by the business to date (which are called retained earnings). It is a proxy for the value of the owner's stake in the business.

projected balance sheet in a Uber cab business plan example

Analysing your Uber cab projected balance sheet provides an understanding of your Uber cab's working capital structure, investment and financing policies.

In particular, the readers of your plan can compare the level of financial debt on the balance sheet to the equity value to measure the level of financial risk (equity doesn't need to be reimbursed, while financial debt must be repaid, making it riskier).

They can also use your balance sheet to assess your Uber cab's liquidity and solvency:

  • A liquidity analysis: focuses on whether or not your business has sufficient cash and short-term assets to cover its liabilities due in the next 12 months.
  • A solvency analysis: takes and longer view to assess whether or not your business has the capacity to repay its debts over the medium-term.

The cash flow forecast

A projected cash flow statement for an Uber cab is used to show how much cash the business is generating or consuming.

cash flow forecast in a Uber cab business plan example

The cash flow forecast is usually organized by nature to show three key metrics:

  • The operating cash flow: do the core business activities generate or consume cash?
  • The investing cash flow: how much is the business investing in long-term assets (this is usually compared to the level of fixed assets on the balance sheet to assess whether the business is regularly maintaining and renewing its equipment)?
  • The financing cash flow: is the business raising new financing or repaying financiers (debt repayment, dividends)?

As we discussed earlier, cash is king and keeping an eye on future cash flows an imperative for running a successful business. Therefore, you can expect the reader of your Uber cab business plan to pay close attention to your cash flow forecast.

Also, note that it is customary to provide both yearly and monthly cash flow forecasts in a business plan - so that the reader can analyze seasonal variation and ensure the Uber cab is appropriately funded.

The initial financing plan

The initial financing plan - also called a sources and uses table - is an important tool when starting an Uber cab.

It shows where the money needed to set up the business will come from (sources) and how it will be allocated (uses).

initial financing plan in a Uber cab business plan

Having this table helps understand what costs are involved in setting up the Uber cab, how the risks are distributed between the shareholders and the lenders, and what will be the starting cash position (which needs to be sufficient to sustain operations until the business breaks even).

Now that the financial forecast of an Uber cab business plan is understood, let's focus on what goes into the written part of the plan.

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The written part of an Uber cab business plan

The written part of an Uber cab business plan is composed of 7 main sections:

  • The executive summary
  • The presentation of the company
  • The products and services
  • The market analysis
  • The strategy
  • The operations
  • The financial plan

Throughout these sections, you will seek to provide the reader with the details and context needed for them to form a view on whether or not your business plan is achievable and your forecast a realistic possibility.

Let's go through the content of each section in more detail!

1. The executive summary

The executive summary, the first section of your Uber cab's business plan, serves as an inviting snapshot of your entire plan, leaving readers eager to know more about your business.

To compose an effective executive summary, start with a concise introduction of your business, covering its name, concept, location, history, and unique aspects. Share insights about the services or products you intend to offer and your target customer base.

Subsequently, provide an overview of your Uber cab's addressable market, highlighting current trends and potential growth opportunities.

Then, present a summary of critical financial figures, such as projected revenues, profits, and cash flows.

You should then include a summary of your key financial figures such as projected revenues, profits, and cash flows.

Lastly, address any funding needs in the "ask" section of your executive summary.

2. The presentation of the company

As you build your Uber cab business plan, the second section deserves attention as it delves into the structure and ownership, location, and management team of your company.

In the structure and ownership part, you'll provide valuable insights into the legal structure of the business, the identities of the owners, and their respective investments and ownership stakes. This level of transparency is vital, particularly if you're seeking financing, as it clarifies which legal entity will receive the funds and who holds the reins of the business.

Moving to the location part, you'll offer a comprehensive view of the company's premises and articulate why this specific location is strategic for the business, emphasizing factors like catchment area, accessibility, and nearby amenities.

When describing the location of your Uber cab to a third party financier, you may want to emphasize its potential to generate revenue. You could focus on the large population and high demand for rides in the area. You might also highlight the availability of services in the area that make it attractive to Uber customers. Additionally, you can point out any unique features that could make it an ideal location for Uber to operate, such as its proximity to airports, transportation hubs, and popular tourist attractions.

Lastly, you should introduce your esteemed management team. Provide a thorough explanation of each member's role, background, and extensive experience.

It's equally important to highlight any past successes the management team has achieved and underscore the duration they've been working together. This information will instil trust in potential lenders or investors, showcasing the strength and expertise of your leadership team and their ability to deliver the business plan.

3. The products and services section

The products and services section of your Uber cab business plan should include a detailed description of what your company sells to its customers. 

For example, your Uber cab might offer customers a variety of services, such as door-to-door rides, point-to-point rides, and rides to and from airports. It might also offer special services such as ride sharing, allowing customers to split the cost of a ride with others, as well as child seats, which would provide an added level of safety and convenience. These services would all make the experience more convenient, comfortable, and safe for customers, while providing an additional level of value.

The reader will want to understand what makes your Uber cab unique from other businesses in this competitive market.

When drafting this section, you should be precise about the categories of products or services you sell, the clients you are targeting and the channels that you are targeting them through. 

uber cab business plan: products and services section

4. The market analysis

When you present your market analysis in your Uber cab business plan, it's crucial to include detailed information about customers' demographics and segmentation, target market, competition, barriers to entry, and any relevant regulations.

The main objective of this section is to help the reader understand the size and attractiveness of the market while demonstrating your solid understanding of the industry.

Begin with the demographics and segmentation subsection, providing an overview of the addressable market for your Uber cab, the key trends in the marketplace, and introducing different customer segments along with their preferences in terms of purchasing habits and budgets.

Next, focus on your target market, zooming in on the specific customer segments your Uber cab aims to serve and explaining how your products and services fulfil their distinct needs.

For example, your target market might include professionals who need to travel to and from work quickly. This includes people such as doctors, lawyers, business executives, and other white-collar professionals who don't have the time or energy to navigate public transportation. Additionally, Uber could target people who don't have access to a vehicle or need to travel to an unfamiliar area and need a reliable alternative to public transportation.

Then proceed to the competition subsection, where you introduce your main competitors and highlight what sets you apart from them.

Finally, conclude your market analysis with an overview of the key regulations applicable to your Uber cab.

5. The strategy section

When crafting the strategy section of your business plan for your Uber cab, it's important to cover several key aspects, including your competitive edge, pricing strategy, sales & marketing plan, milestones, and risks and mitigants.

In the competitive edge subsection, clearly explain what sets your company apart from competitors. This is particularly critical if you're a startup, as you'll be trying to establish your presence in the marketplace among entrenched players.

The pricing strategy subsection should demonstrate how you aim to maintain profitability while offering competitive prices to your customers.

For the sales & marketing plan, outline how you plan to reach and acquire new customers, as well as retain existing ones through loyalty programs or special offers.

In the milestones subsection, detail what your company has achieved thus far and outline your primary objectives for the coming years by including specific dates for expected progress. This ensures everyone involved has clear expectations.

Lastly, in the risks and mitigants subsection, list the main risks that could potentially impact the execution of your plan. Explain the measures you've taken to minimize these risks. This is vital for investors or lenders to feel confident in supporting your venture - try to proactively address any objection they might have.

Your Uber cab faces a variety of risks. For instance, the driver may be faced with an unforeseen mechanical problem with the car, such as a flat tire or a dead battery. Additionally, the driver could encounter road hazards or unexpected traffic delays that could make their trip much longer and costlier than anticipated.

6. The operations section

The operations of your Uber cab must be presented in detail in your business plan.

Begin by addressing your staff, specifying the main roles and your recruitment plan to support the anticipated growth. Outline the qualifications and experience needed for each role and discuss your recruitment strategies, which may involve using job boards, referrals, or headhunters.

Next, clearly state your Uber cab's operating hours, allowing the reader to gauge the adequacy of your staffing levels. Additionally, mention any considerations for varying opening times during peak seasons and your approach to handling customer queries outside regular operating hours.

The key assets and intellectual property (IP) required to run your business should also be highlighted. If you rely on licenses, trademarks, physical structures like equipment or property, or lease agreements, ensure they are well-documented in this section.

Finally, provide a comprehensive list of suppliers you intend to collaborate with, along with a breakdown of their services and main commercial terms, such as price, payment terms, break clauses and contract duration. Investors often seek insight into the reasons behind your supplier choices, which may include a preference for higher-quality products or established relationships from past ventures.

7. The presentation of the financial plan

The financial plan section is where we will include the financial forecast we discussed earlier in this guide.

Now that you have a clear idea of what goes into an Uber cab business plan, let's look at some of the tools you can use to create yours efficiently.

What tool should I use to write my Uber cab's business plan?

In this section, we will be reviewing the two main options for writing an Uber cab business plan efficiently:

  • Using specialized software,
  • Outsourcing the drafting to the business plan writer.

Using an online business plan software for your Uber cab's business plan

Using online business planning software is the most efficient and modern way to create an Uber cab business plan.

There are several advantages to using specialized software:

  • You can easily create your financial forecast by letting the software take care of the financial calculations for you without errors
  • You are guided through the writing process by detailed instructions and examples for each part of the plan
  • You can access a library of dozens of complete business plan samples and templates for inspiration
  • You get a professional business plan, formatted and ready to be sent to your bank or investors
  • You can easily track your actual financial performance against your financial forecast
  • You can create scenarios to stress test your forecast's main assumptions
  • You can easily update your forecast as time goes by to maintain visibility on future cash flows
  • You have a friendly support team on standby to assist you when you are stuck

If you're interested in using this type of solution, you can try The Business Plan Shop for free by signing up here .

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Hiring a business plan writer to write your Uber cab's business plan

Outsourcing your Uber cab business plan to a business plan writer can also be a viable option.

Business plan writers are experienced in writing business plans and adept at creating financial forecasts without errors. Furthermore, hiring a consultant can save you time and allow you to focus on the day-to-day operations of your business.

However, hiring business plan writers is expensive as you are paying for the software used by the consultant, plus their time, and their profit margin of course.

From experience, you need to budget at least £1.5k ($2.0k) excluding tax for a complete business plan, more if you need to make changes after the initial version (which happens frequently after the initial meetings with lenders or investors).

You also need to be careful when seeking investment. Investors want their money to be used to grow the business, not spent on consulting fees. Therefore, the amount you spend on business plan writing services (and other consulting services such as legal services) needs to be negligible relative to the amount raised.

The other drawback is that you usually don't own the business plan itself: you just get the output, while the actual document is saved in the consultant's business plan software - which makes it difficult to maintain the document up to date without hiring the consultant on a retainer.

For these reasons, outsourcing the Uber cab business plan to a business plan writer should be considered carefully, weighing both the advantages and disadvantages of hiring outside help.

Ultimately, it may be the right decision for some businesses, while others may find it beneficial to write their business plan using online software.

Why not create your Uber cab's business plan using Word or Excel?

Using Microsoft Excel and Word (or their Google, Apple, or open-source equivalents) to write an Uber cab business plan is not advisable. Allow me to explain the reasons.

Firstly, creating an accurate and error-free financial forecast on Excel or any spreadsheet demands technical expertise in accounting principles and financial modelling. Without a degree in finance and accounting and significant financial modelling experience, it's unlikely that the reader will fully trust your numbers.

Secondly, relying on spreadsheets is inefficient. While it may have been the go-to option in the past, technology has evolved, and software now performs such tasks much faster and more accurately.

The second reason is that it is inefficient. Building forecasts on spreadsheets was the only option in the early 2000s, nowadays technology has advanced and software can do it much faster and much more accurately.

And with the rise of AI, software is also becoming smarter at helping us detect mistakes in our forecasts and helping us analyse the numbers to make better decisions.

Moreover, software offers ease in comparing actuals versus forecasts and maintaining up-to-date forecasts for clear visibility on future cash flows, as we discussed earlier in this guide. Such tasks are cumbersome when using spreadsheets.

Now, let's address the written part of your Uber cab business plan. While it may be less prone to errors, using software can significantly boost productivity. Word processors lack instructions and examples for each section of your business plan. They also won't automatically update your numbers when changes occur in your forecast, and they lack automated formatting capabilities.

In summary, while some entrepreneurs may consider Word or Excel for their business plan, it's far from the best or most efficient solution when compared to specialized software.

  • A business plan has 2 complementary parts: a financial forecast showcasing the expected growth, profits and cash flows of the business; and a written part which provides the context needed to judge if the forecast is realistic and relevant.
  • Having an up-to-date business plan is the only way to keep visibility on your Uber cab's future cash flows.
  • Using business plan software is the modern way of writing and maintaining business plans.

We hope that this practical guide gave you insights on how to write the business plan for your Uber cab. Do not hesitate to get in touch with our team if you still have questions.

Also on The Business Plan Shop

  • In-depth business plan structure
  • Key steps to write a business plan?
  • Free business plan template

Know someone who owns or wants to start an Uber cab? Share this article with them!

Guillaume Le Brouster

Founder & CEO at The Business Plan Shop Ltd

Guillaume Le Brouster is a seasoned entrepreneur and financier.

Guillaume has been an entrepreneur for more than a decade and has first-hand experience of starting, running, and growing a successful business.

Prior to being a business owner, Guillaume worked in investment banking and private equity, where he spent most of his time creating complex financial forecasts, writing business plans, and analysing financial statements to make financing and investment decisions.

Guillaume holds a Master's Degree in Finance from ESCP Business School and a Bachelor of Science in Business & Management from Paris Dauphine University.

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Business Plan Template for Uber

Business Plan Template for Uber

Thinking about starting your own ride-sharing service, like Uber? We know that crafting a comprehensive business plan can be a daunting task. That's why ClickUp's Business Plan Template for Uber is here to guide you every step of the way!

With our template, you'll be able to:

  • Conduct thorough market analysis to identify opportunities and target customers
  • Develop a competitive strategy to differentiate your service and stand out from the crowd
  • Create detailed financial projections that showcase the profitability and sustainability of your business
  • Outline the operational setup, including fleet management, driver recruitment, and customer support

Don't let the complexity of starting a ride-sharing service hold you back. Use ClickUp's Business Plan Template for Uber and get ready to revolutionize the transportation industry. Start planning your path to success today!

Business Plan Template for Uber Benefits

Creating a comprehensive business plan is crucial for any startup in the transportation industry, especially for those looking to launch a ride-sharing service like Uber. By using a business plan template specifically designed for this purpose, entrepreneurs can enjoy the following benefits:

  • Streamlined process: The template provides a structured framework, saving time and effort in organizing the various components of the business plan.
  • Investor attraction: A well-crafted business plan increases the likelihood of attracting investors by showcasing the potential profitability and growth of the venture.
  • Strategic direction: The template prompts entrepreneurs to conduct a thorough market analysis and develop a competitive strategy, ensuring a strong foundation for their business.
  • Financial projections: The template includes sections for financial projections, helping entrepreneurs accurately estimate costs, revenues, and profitability.
  • Operational efficiency: By outlining the operational setup in the business plan, entrepreneurs can identify potential challenges and develop strategies to overcome them, improving overall efficiency.

Main Elements of Uber Business Plan Template

ClickUp's Business Plan Template for Uber is designed to help entrepreneurs and startups in the transportation industry create a compelling business plan to secure funding for their ride-sharing venture. Here are the main elements of this template:

  • Custom Statuses: Keep track of the progress of each section of your business plan with statuses such as Complete, In Progress, Needs Revision, and To Do.
  • Custom Fields: Use custom fields like Reference, Approved, and Section to add additional information and categorize different aspects of your business plan.
  • Custom Views: Utilize different views like Topics, Status, Timeline, Business Plan, and Getting Started Guide to easily navigate and organize your business plan sections, track progress, and collaborate with team members.
  • Financial Projections: Use ClickUp's built-in tables and calculations in the Business Plan view to create and analyze financial projections for your Uber-like ride-sharing service.
  • Collaboration: Collaborate with team members, assign tasks, and set due dates to ensure everyone stays on track to complete the business plan on time.
  • Integration: Easily integrate with other tools and services like Google Docs, Excel, or your CRM system to streamline your business plan creation process.

How To Use Business Plan Template for Uber

If you're looking to create a comprehensive business plan for your Uber-like service, follow these steps using the Business Plan Template in ClickUp:

1. Define your business concept and goals

Start by clearly defining your business concept and goals for your Uber-like service. What problem are you solving? How will your service be unique? Outline your target market, pricing model, and revenue projections. This step will help you set a strong foundation for your business plan.

Use Docs in ClickUp to document your business concept and goals in detail.

2. Conduct market research and analysis

To ensure the success of your Uber-like service, it's crucial to conduct thorough market research and analysis. Identify your target market, understand their needs and preferences, and analyze your competitors. This step will help you identify potential opportunities and challenges in the market.

Create custom fields in ClickUp to organize and track your market research findings and competitor analysis.

3. Develop your business strategy and operations plan

Next, develop a solid business strategy and operations plan for your Uber-like service. Outline your marketing and sales strategies, including how you will attract and retain customers. Define your service offerings, pricing structure, and how you will manage your fleet of drivers. Develop a financial plan with projected revenue, expenses, and profitability.

Use tasks in ClickUp to break down your business strategy and operations plan into actionable steps and assign them to team members.

4. Review and refine your business plan

Once you have completed your initial business plan, it's important to review and refine it. Seek feedback from mentors, advisors, or colleagues and incorporate their suggestions. Update your financial projections based on new information or changes in the market. Regularly review and refine your business plan to ensure it remains relevant and aligned with your business goals.

Set recurring tasks in ClickUp to review and refine your business plan at regular intervals and make any necessary updates.

By following these steps and utilizing the Business Plan Template in ClickUp, you'll be well on your way to creating a comprehensive and effective business plan for your Uber-like service.

Get Started with ClickUp’s Business Plan Template for Uber

Entrepreneurs and startups in the transportation industry looking to launch a ride-sharing service similar to Uber can use the Business Plan Template for Uber to outline their market analysis, competitive strategy, financial projections, and operational setup to attract investors and secure funding for their venture.

First, hit "Add Template" to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you'd like this template applied.

Next, invite relevant members or guests to your Workspace to start collaborating.

Now you can take advantage of the full potential of this template to create a comprehensive business plan:

  • Use the Topics View to organize your plan into different sections such as Executive Summary, Market Analysis, Financial Projections, and more.
  • The Status View will help you track the progress of each section, whether it's Complete, In Progress, Needs Revision, or To Do.
  • Utilize the Timeline View to set deadlines and milestones for each section of your business plan.
  • The Business Plan View provides a comprehensive overview of your entire plan, allowing you to easily navigate and review the content.
  • The Getting Started Guide View will provide step-by-step instructions on how to use the template effectively.

Customize your business plan template with the following custom fields:

  • Use the Reference field to link supporting documents or resources to each section of your plan.
  • The Approved field can be used to indicate which sections have been reviewed and approved by stakeholders.
  • The Section field allows you to categorize each section of your plan for easy organization and filtering.

Update the statuses, custom fields, and views as you progress through your business plan to keep stakeholders informed and ensure maximum productivity.

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Sample Uber Driver Business Plan

Here is how to write a uber driving business plan.

Every person seeking to establish a passenger transport business needs to strategize and plan well ahead of time.

Such plans help implement sharing economy businesses and bring it to fruition. The same applies to be an Uber driver.

This popular cab-hailing business has become a massive success story.

RIDESHARE BUSINESS PLAN PDF SAMPLE

Now, such success has largely been driven by its operational structure. Drivers play a key role in their success stories. If you’ve been fascinated by the prospect of becoming an Uber driver, the fact is, you can achieve your goal.

However, this is only possible through proper planning.

This article is written to help actualize your desire of becoming an Uber driver.

Financing your Uber Business

Without adequate financing, it’s almost impossible to operate an uber business.

As a driver, you’ll need to get the right equipment for the job. Now, the major equipment needed to become an Uber driver is a vehicle. The right vehicle goes a long way to help your business operations.

Now, the costs involved in purchasing your preferred vehicle can be quite substantial. You may not have the financial capacity to foot the bill. Not having the resources at hand to purchase a vehicle wouldn’t hinder you from achieving your desires as there are financing options.

One of the ready sources to obtain car loans is through the Small Business Administration (SBA) loan program.

There are multiple loan categories. They include Bad Credit Car Loans, Secured Car Loans, and Personal Loan. Each of these categories is best fitted for specific candidates.

Let’s expand on each category as follows;

Bad Credit Loans

There are persons in desperate need of financial assistance to start their Uber driving business. However, such persons are limited by their low credit score. If you belong to this category, a special financing provision known as bad credit loans is available.

This is made available with consideration for the difficulty faced by persons with low credit scores to access loans.

However, the interest attached to this loan category is higher than the normal auto loans.

Secured Car Loans

This car loan category is tied to the car which serves as collateral. It allows those without a good credit score or income to easily obtain car loans.

However, since the car is used as collateral, it can be lost or seized when you miss payments. This will effectively bring your business as an Uber driver to a standstill.

Personal Loans

Applying for personal loans is another option you have to raise the needed finance for your Uber driver business.

This lets you have access to large loan sums. To get access to these, you’ll need to have proof of permanent residency or a social security number.

One of the main criteria for getting access to financing is having a good business plan. Your business plan will be scrutinized to determine if your business idea has a chance of being successful. Your plan says a lot about the viability of the idea.

So, it’s necessary to take all the time you need to create a great plan. This way, your chances are significantly improved.

Marketing Strategy

This is one of the most important sections of your plan to pay close attention to. Uber as a major business has a marketing strategy for prospective drivers to pattern after. Such marketing patterns are multi-pronged as well as innovative.

It covers key areas such as referrals, early adopter advocacy, stunts, reviews, a loyalty program, partnerships as well as a multi-channel approach.

All of these strategies contribute to how the business is perceived and performs. Let’s consider each of the above points.

This is a process where early adopters leverage Uber’s referral marketing program by giving free rides to friends.

This in turn helps them earn or gather credits. As an Uber driver, you also stand to benefit from referral incentives.

Early Adopter Advocacy

This is largely hinged on the word of mouth marketing where people are encouraged to advocate or spread the word about your business. This strategy is best promoted by satisfied clients.

Your satisfied clients can be encouraged to spread the word about your business as well as leaving positive reviews.

Publicity stunts are effective promotion strategies used to introduce new offers. It may not be necessary to go all the way in patterning your marketing strategies after Uber.

However, there should be some form of positive buzz about your business that promotes it to new clients.

The rating system included in Uber’s business structure is designed to rate driver performance as well as customer perception. This is a very important strategy you can leverage to ensure your clients get the very best.

Without a doubt, you’re likely to come across difficult customers. Thankfully, this doesn’t happen all the time. You only need to do your best in projecting your capabilities.

Satisfied clients are most likely to drop a positive review of your business.

A Loyalty Program

Uber’s loyalty program rewards its most loyal customers. This program covers those who have taken about a hundred or more Uber rides. Now, this category of clients gets access to the highest-rated drivers.

As an Uber driver, one way to benefit from this program is evident. You need to be among its highest-rated drivers. How you treat your clients and their perception of your business will determine that.

Building Your Reputation

As someone seeking to become an Uber driver, it’s important to have plans in place that promote your business. In other words, you’ll need to build your reputation. Now, building your reputation involves several measures such as those provided above.

You want to offer your clients the best driving experience. This shouldn’t be difficult to figure out. You only need to create the right impression by giving your best.

Getting the Right Equipment

The major equipment here is your vehicle. Now, it’s important to get the right vehicle for the job. The right vehicle should be one that is in good condition. If you can’t afford to buy a new one, a fairly used vehicle in good condition should be considered.

The fewer issues you have with your vehicle the better. This is because frequent repairs eventually affect your earnings. It also affects your performance.

This Uber driver business plan guide will help you come up with a proper strategy that helps guarantee your success.

You have all the time in the world to carefully plan for your business. This process shouldn’t be rushed.

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Uber Driver Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business ideas » Transportation Industry » Taxi

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;

  • Recruiting, training and providing drivers for partners under Uber
  • Managing drivers and fleet of cars for partners under Uber

4. Our Mission and Vision Statement

  • Our vision is to become the number one Uber driver company in the whole of Florida with active presence in key cities all around the State of Florida.
  • 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 become the standard for an ideal taxi e-hailing business not only in the State of Florida but also throughout the United States of America.

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 autopilot.

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:

  • Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results and developing incentives
  • Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Responsible for fixing prices and signing business deals
  • Responsible for providing direction for the business
  • Responsible for signing checks and documents on behalf of the company
  • Evaluates the success of the organization
  • Managing our software and backend
  • Responsible for installation, repair and maintenance of GPS car tracking device for the organization
  • Responsible for writing and presenting reports, proposals, applications and contracts
  • In charge of choosing the GPC car tracker components and software to be used and specifying the requirements for the project
  • Adapting plans according to circumstances and resolving any problems that may arise during GPS car tracker installation and monitoring
  • Monitor all our taxi that are plying different routes
  • Responsible for overseeing the smooth running of HR and administrative tasks for the organization
  • Design job descriptions with KPI to drive performance management for clients
  • Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
  • Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
  • Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
  • Defining job positions for recruitment and managing interviewing process
  • Carrying out induction for new team members
  • Responsible for training, evaluation and assessment of employees
  • Responsible for arranging travel, meetings and appointments
  • Oversee the smooth running of the daily office activities.
  • Identify, prioritize, and reach out to new partners, and business opportunities et al
  • Identifies potential partners; follows up on development leads and contacts
  • Writing winning proposal documents, negotiate fees and rates in line with company policy
  • Responsible for handling business research, marker surveys and feasibility studies for clients
  • Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
  • Document all customer contact and information
  • Represent the company in strategic meetings
  • Help increase sales and growth for the company
  • Responsible for preparing financial reports, budgets, and financial statements for the organization
  • Create reports from the information concerning the financial transactions recorded by the bookkeeper
  • Prepare the income statement and balance sheet using the trial balance and ledgers prepared by the bookkeeper.
  • Provides managements with financial analyses, development budgets, and accounting reports
  • Responsible for financial forecasting and risks analysis.
  • Responsible for developing and managing financial systems and policies
  • Responsible for administering payrolls
  • Ensuring compliance with taxation legislation
  • Handles all financial transactions for the company
  • Serves as internal auditor for the company
  • Serve as a professional driver for the organization by driving cars as assigned by the management
  • Maintain a logbook of their driving activities to ensure compliance with federal regulations governing the rest and work periods for operators.
  • Keep a record of vehicle inspections and make sure the cab is equipped with safety equipment
  • Inspect vehicles for mechanical items and safety issues and perform preventative maintenance
  • Comply with taxi driving rules and regulations as well as with company policies and procedures
  • Report defects, accidents or violations

Client Service Executive/Front Desk Officer

  • Welcomes guests and clients by greeting them in person or on the telephone; answering or directing inquiries.
  • Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
  • Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
  • Manages administrative duties assigned by the manager in an effective and timely manner
  • Consistently stays abreast of any new information on the company’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients
  • Receives parcels / documents for the company
  • Distribute mails in the organization
  • Handles any other duties as assigned by the line manager

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;

  • Investors / partners who are interested in investing in Uber by making available fleet of cars to be managed by a company like ours
  • Professional drivers who want to drive under Uber but don’t have their own cars
  • Everyone who has the financial capacity to make use of taxi cabs / Uber.

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;

  • First Fiscal Year: $240,000
  • Second Fiscal Year: $450,000
  • Third Fiscal Year: $950,000

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;

  • Introduce our Uber driver services business by sending introductory letters alongside our brochure to corporate organizations, travel and tour agencies, hotels, households and key stakeholders in all across Miami, 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
  • Print out fliers and business cards and strategically drop them in offices, car parks, libraries, public facilities and train stations et al.
  • Use friends and family to spread word about our business
  • Post information about our company and the services we offer on bulletin boards in places like car parks, schools, libraries, and local coffee shops et al
  • Place a small or classified advertisement in the newspaper, or local publication about our company and the services we offer
  • Leverage on referral networks such as agencies that will attract drivers and partners who would need our customized services
  • Advertise our Uber driver services company in relevant magazines, newspapers, TV, and radio stations.
  • Attend relevant automobile expos, seminars, and business fairs et al to market our services
  • Engage in direct marketing approach
  • Encourage the use of Word of mouth marketing from loyal and satisfied clients
  • Join local chambers of commerce and industry to market our services and attract partners.

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.;

  • Encourage our loyal customers (partners and drivers) to help us use Word of Mouth mode of advertisement (referrals)
  • Advertise our business in relevant magazines, local newspaper, local TV and radio stations
  • Promote our business online via our official website
  • List our business on local directories (yellow pages)
  • Sponsor relevant community programs
  • Leverage on the internet and social media platforms like; Instagram, Facebook, LinkedIn, twitter, et al to promote our brand
  • Install our Billboards in strategic locations in and around Florida
  • Direct coupon mailing approach
  • Distribute our fliers and handbills in target areas in and around Miami – Florida.
  • Advertise our company in our official website and employ strategies that will help us pull traffic to the site.
  • Ensure that all our staff members and drivers wear our branded shirts and all our taxis are branded with our company logo

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;

  • Payment via bank transfer
  • Payment with cash
  • Payment via online bank transfer
  • Payment via check
  • Payment via mobile money transfer
  • Payment via bank draft

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;

  • The Total Fee for Registering the Business in the United States of America – $750.
  • Legal expenses for obtaining licenses and permits – $1,500.
  • Marketing promotion expenses (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
  • Cost for hiring Business Consultant – $2,000.
  • Insurance (general liability, comprehensive car insurance, workers’ compensation and property casualty) coverage at a total premium – $30,800.
  • The cost of accounting software, CRM software and Payroll Software – $3,000
  • The cost for leasing standard office facility with enough parking- $100,000.
  • The cost for facility remodeling – $10,000.
  • Other start-up expenses including stationery – $1000
  • Amount needed for phone and utility deposits – $3,500
  • Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $40,000
  • The cost for Start-up inventory (fueling, car tracking devices and accessories) – $50,000
  • The total cost for store equipment (cash register, security, ventilation, signage) – $13,750
  • The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, Credit card machine, POS, tables and chairs et al): $4,000.
  • The cost of Launching a Website: $600
  • The total cost for financing the acquisition of the first set of Uber – spec cars – $500,000
  • The cost for our grand opening party: $15,000
  • Miscellaneous: $10,000

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;

  • Generate part of the startup capital from personal savings and sale of stocks
  • Generate part of the startup capital from friends and other extended family members
  • Generate a larger chunk of the startup capital from the bank (loan facility).

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 retraining 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

  • Business Name Availability Check:>Completed
  • Business Registration: Completed
  • Opening of Corporate Bank Accounts: Completed
  • Securing Point of Sales (POS) Machines: Completed
  • Opening Mobile Money Accounts: Completed
  • Opening Online Payment Platforms: Completed
  • Application and Obtaining Tax Payer’s ID: In Progress
  • Application for business license and permit: Completed
  • Purchase of Insurance for the Business: Completed
  • Acquiring facility with enough parking lots and remodeling the facility: In Progress
  • Acquiring of cars and limousines: In Progress
  • Conducting Feasibility Studies: Completed
  • Generating capital from family members: Completed
  • Applications for Loan from the bank: In Progress
  • Writing of Business Plan: Completed
  • Drafting of Employee’s Handbook: Completed
  • Drafting of Contract Documents and other relevant Legal Documents: In Progress
  • Design of The Company’s Logo: Completed
  • Printing of Promotional Materials: In Progress
  • Recruitment of employees: In Progress
  • Purchase of office furniture and appliances, software apps and IT gadgets : In progress
  • Creating Official Website for the Company: Completed
  • Creating Awareness for the business both online and in the neighborhood: In Progress
  • Health and Safety and Fire Safety Arrangement (License): Secured
  • Establishing business relationship with car dealership shops, Uber Technologies Inc., and other key stakeholders in the industry et al: In Progress

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Uber unveils $7 billion share buyback after first profitable year

In this article

Uber Technologies said on Wednesday it will buy back up to $7 billion worth of company shares after a strong recovery in ride-share and healthy demand at its food delivery business.

The company's shares rose more than 5% to $72.50 in trading before the bell.

"Today's authorization of our first-ever share repurchase program is a vote of confidence in the company's strong financial momentum," Uber CFO Prashanth Mahendra-Rajah said.

Over the next three years Uber expects gross bookings growth in the mid to high teens percentage and adjusted core profit growth in the high 30s to 40%.

Free cash flow as a percentage of adjusted earnings before interest, taxes, depreciation, and amortization is expected to be 90% or higher annually, the company said.

The ride-hailing firm posted its first annual net profit last year since the company went public in 2019. Uber had a free cash flow of $3.4 billion in 2023, up from $390 million a year earlier.

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DOWNLOAD UBER TAXI BUSINESS PLAN WITH FINANCIALS

Looking for a Uber Taxi Business plan in Nigeria for your new or existing enterprise?

Download this Uber Taxi Business plan sample, which you can download to present to NIRSAL, BOI, BOA, and other investors.

business plan of uber

1.0. Executive Summary

Pace Setter Uber Drivers, Inc. is a registered taxi e – hailing software app company that intends to manage drivers under Uber. We will be based in Ikeja, Lagos-Nigeria and also operate in other major cities across the country. We decided to carry out our operation in these cities because our services will be in demand due to the demographic composition of the cities.

Our services will involve managing professional drivers and a fleet of cars under Uber. We are well trained and equipped with some of the most distinct taxi cab drivers and suitable vehicles to service our clients irrespective of their social and financial status.

At Pace Setter Uber Drivers, Inc. we are passionate in a race of attaining excellence and financial progress with fair services and sincerity which is why we have decided to start our own Uber driver service business. 

We will be dedicated to building good business relationships with our clients by providing them value for their money and reasons to patronize us. We acknowledged that to become the best in this city. We will continually provide quality and highly reliable services.

Our values and professional ethics will guide us as the interest of our clients is our priority. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely.

Pace Setter Uber Drivers, Inc. is a family business owned and managed by Larry Sam. They both graduated from Lagos State University and have all the required qualifications and expertise to grow Pace Setter Uber Drivers, Inc. to favourably compete with leading brands in the Taxi e-hailing software app services industry.

2.0. Our Products and Services

Pace Setter Uber Drivers, Inc. is a standard Uber driver company that is built to generate profit and favourably compete among the leading brands in the industry. Our services offerings are listed below;

  • Hiring, training and providing drivers for partners under Uber
  • Managing drivers and fleet of cars for partners under Uber

3.0. Our Mission and Vision Statement

  • Our vision is to become the best Uber driver company in Ikeja-Lagos with an active presence in key cities of the country.
  • Our mission as a standard Uber driver company is to develop a highly successful, lucrative business that provides reliable drivers and cars in our city and become the standard for an ideal taxi e-hailing business throughout Nigeria.

4.0. Our Business Structure

We plan to build an Uber driver services company that will be the standard for the industry in Nigeria. We want to have a passionate workforce that ensures that our customers and partners are satisfied and they get worth for their money.

With the wide range of our service offerings, we will employ more than the required workers (both full-time and contract workers) to run a conventional Uber driver business.

We 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

5.0. SWOT ANALYSIS

Our strengths will be the strategic locations we intend to cover, the Business model we will be engaging in, access to a pool of willing partners, a wide range of highly reliable and comfortable cars, highly trained and polite drivers and our excellent customer service culture

Our major weakness is that we don’t have the financial capacity and business structure to compete with Uber hence the need to work with them as an independent partner.

Opportunities

The fact that we are launching out in the centre of Ikeja-Lagos, provides us with countless opportunities to market our services to a vigorous number of professional drivers, business partners, corporate organizations, travel and tours agencies, hotels, government organizations, households et al.

We have been able to carry out feasibility studies and market surveys, 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.

The fact that we are not an independent business will be our major threat and the arrival of a new Uber services company in the location using the same business model as ours.

6.0. Our Target Market

We identify clients that will benefit from our service as a Uber services company with the aid of the feasibility studies and market survey we conducted. Our potential clients are grouped into three and are;

  • Investors/partners who are interested in investing in Uber by making an available fleet of cars to be managed by a company like ours
  • Professional drivers who want to drive under Uber but don’t have their cars
  • Everyone who has the financial capacity to make use of taxi cabs / Uber.

7.0. Our competitive advantage

We can confidently say that the strategic locations we intend to cover, the Business model we will be operating on, access to the funds of partners and investors, ease of payment, a wide variety of dependable and luxurious cars, well-trained and polite drivers and our prolific customer service culture will serve as a competitive advantage for Pace Setter Uber Drivers, Inc.

How To Download Uber Taxi Business plan Template PDF and Doc (With financial analysis)

Pay the sum of N8000  ( Eight thousand naira only)  to the account detail below: Bank: GTBank Name: Oyewole Abidemi (I am putting my name and not our company account so you know I am real and you can trust me, and trace me) Ac/No: 0238933625 Type: Saving

P.S: We can also tailor the uber taxi  Business plan to your name,  business size, capital requirements, and more to fit your direct needs. Call or message +234 701 754 2853 for inquiries.

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Date night strike: Thousands of US, UK delivery, ride-hailing drivers stop work on Valentine’s Day

Dozens of ride-hailing workers participated in a strike on Valentine’s Day at O’Hare Airport, calling for higher pay and better working conditions. (Feb. 14)

People protest ride-hailing companies like Uber, Lyft and others in the Transportation Network Provider parking lot at O'Hare International Airport, Wednesday, Feb. 14, 2024, in Chicago. (AP Photo/Erin Hooley)

People protest ride-hailing companies like Uber, Lyft and others in the Transportation Network Provider parking lot at O’Hare International Airport, Wednesday, Feb. 14, 2024, in Chicago. (AP Photo/Erin Hooley)

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Ride-share drivers protest near Orlando International Airport at Airport Lakes Park, Wednesday, Feb. 14, 2024, in Orlando, Fla. Thousands of ride-hailing and delivery workers in the U.S. and the U.K. went on strike on Valentine’s Day, calling for higher pay and other changes to their working conditions. (Joe Burbank/Orlando Sentinel via AP)

People wait in the ride-hailing pickup area at O’Hare International Airport, Wednesday, Feb. 14, 2024, in Chicago. Ride-hailing workers were protesting companies like Uber and Lyft across the country Wednesday, demanding better wages and safer working conditions. (AP Photo/Erin Hooley)

People wait in the ride-hailing pickup area at O’Hare International Airport, Wednesday, Feb. 14, 2024, in Chicago. ride-hailing and delivery workers were protesting companies like Uber and Lyft across the country Wednesday, demanding better wages and safer working conditions. (AP Photo/Erin Hooley)

Carmen Peralta joins other ride-hailing and delivery workers in protest of Uber, Lyft and other companies in the Transportation Network Provider parking lot at O’Hare International Airport, Wednesday, Feb. 14, 2024, in Chicago. (AP Photo/Erin Hooley)

An authorization sticker is displayed on a vehicle in the Transportation Network Provider parking lot at O’Hare International Airport, Wednesday, Feb. 14, 2024, in Chicago. Ride-hailing and delivery workers were protesting companies like Uber and Lyft across the country Wednesday, demanding better wages and safer working conditions. (AP Photo/Erin Hooley)

Rideshare vehicles are parked in the Transportation Network Provider parking lot at O’Hare International Airport, Wednesday, Feb. 14, 2024, in Chicago. Thousands of ride-hailing and delivery workers in the U.S. and the U.K. went on strike on Valentine’s Day, calling for higher pay and other changes to their working conditions. (AP Photo/Erin Hooley)

People wait in the rideshare pickup area at O’Hare International Airport, Wednesday, Feb. 14, 2024, in Chicago. Thousands of ride-hailing and delivery workers in the U.S. and the U.K. went on strike on Valentine’s Day, calling for higher pay and other changes to their working conditions. (AP Photo/Erin Hooley)

Blossom Boston joins other ride-hailing and delivery workers in protest of Uber, Lyft and other companies in the Transportation Network Provider parking lot at O’Hare International Airport, Wednesday, Feb. 14, 2024, in Chicago. (AP Photo/Erin Hooley)

Uber and Lyft driver Marcus Cruz, center, joins other rideshare drivers at a rally for batter pay and working conditions at Austin-Bergstrom International Airport in Austin, Texas, Wednesday Feb. 14, 2024. Thousands of ride-hailing and delivery workers in the U.S. and the U.K. went on strike on Valentine’s Day, calling for higher pay and other changes to their working conditions. (Jay Janner/Austin American-Statesman via AP)

FILE - In this Feb. 9, 2021 file photo, a passer-by walks past a sign offering directions to an Uber and Lyft ride pickup location at Logan International Airport, in Boston. Thousands of U.S. ride-hailing workers plan to park their cars and picket at major U.S. airports Wednesday, Feb. 14, 2024, in what organizers say is their largest strike yet in a drive for better pay and benefits. (AP Photo/Steven Senne, File)

FILE - In this Jan. 12, 2016, file photo, a ride share car displays Lyft and Uber stickers on its front windshield in downtown Los Angeles. Thousands of U.S. ride-hailing workers plan to park their cars and picket at major U.S. airports Wednesday, Feb. 14, 2024, in what organizers say is their largest strike yet in a drive for better pay and benefits. (AP Photo/Richard Vogel, File)

Thousands of ride-hailing and delivery workers in the U.S. and the U.K. went on strike on Valentine’s Day, calling for higher pay and other changes to their working conditions.

In the U.S., Uber and Lyft drivers planned daylong strikes in Chicago; Philadelphia; Pittsburgh; Miami; Orlando and Tampa, Florida; Hartford, Connecticut; Newark, New Jersey; Austin, Texas; and Providence, Rhode Island. Drivers were also holding midday demonstrations at airports in those cities, according to Justice for App Workers, the group organizing the effort.

Meanwhile, U.K. delivery drivers for Uber Eats, Deliveroo, Just Eat and Stuart said they would turn off their apps and refuse deliveries between 5 p.m. and 10 p.m. The group Delivery Job U.K., which called for the walkout, said on Instagram that the strike was “a crucial opportunity to be seen and heard by society.”

Of eight delivery drivers who spoke with The Associated Press on the streets of London Wednesday, all but one said they planned to halt work at 5 p.m. Several, however, questioned whether the strike was long enough to make enough of a financial dent in the businesses.

FILE - An Uber sign is displayed inside a car, May 15, 2020, in Chicago. The Biden administration will enact a new labor rule Tuesday, Jan. 9, 2024, that aims to prevent the misclassification of workers as “independent contractors,” a step that could bolster both legal protections and compensation for many in the U.S. workforce. (AP Photo/Nam Y. Huh, File)

“One day is not effective,” said Evadur Rahman. “If we strike more than one day — two, three, four days — they’re gonna be affected.”

Rahman, a Deliveroo driver who planned to participate in the strike, said his daily pay dropped in recent months from about 140 pounds ($175) for eight hours of work to around 100 pounds ($126). He said he wanted the company to raise the minimum rate it pays per order from 2.90 pounds ($3.64) to closer to 5 pounds ($6.28).

“They must improve the minimum pay,” Rahman said. “It’s not enough for survival in this country.”

Justice for App Workers estimated that thousands of drivers stopped working Wednesday, and said that workers in 12 or more cities beyond the original 10 had held impromptu demonstrations. Delivery Job U.K. had expected 3,000 people to strike.

Jocilyn Floyd, who has been driving for Uber for nearly a decade, joined the picket line Wednesday at O’Hare International Airport in Chicago.

“Uber has proven time and time again that they’re putting profits over people. In shareholder meetings they discuss profits; there’s no question about safety, protection from deactivation or compensation,” Floyd said.

Uber said Wednesday that the strike wasn’t hurting driver availability or customer demand.

“Despite the headlines, we’ve seen no impact to our operations or reliability for riders. In fact, in most markets there are more drivers on the road today than there were during the same period last week,” an Uber spokesperson said.

Uber and other companies that rely on self-employed gig workers say those workers appreciate the flexibility of the job. But many gig workers are pushing to unionize, saying that would give them the ability to bargain over compensation, safety measures and other benefits.

In November, that unionization effort saw a setback in the U.K. , when Britain’s top court ruled that Deliveroo couriers don’t have collective bargaining rights because they aren’t considered employees.

Deliveroo said Wednesday that it has a voluntary partnership with a union that includes annual discussions on pay and it also provides couriers with free insurance and sick pay.

“Rider retention rates are high and the overwhelming majority of riders tell us that they are satisfied working with us,” the company said in a statement.

Rachel Gumpert, the spokesperson for Justice for App Workers, described ride-hailing as a “mobile sweatshop,” with some workers routinely putting in 60 to 80 hours per week. Justice for App Workers, which says it represents 130,000 ride-hailing and delivery workers, is seeking higher wages, access to health care and an appeals process so companies can’t deactivate drivers without warning.

But ride-hailing companies say they already pay a fair wage and have an appeals process in place for deactivations.

Earlier this month, Lyft said it began guaranteeing that drivers will make at least 70% of their fares each week, and it lays out its fees more clearly for drivers in a new earnings statement. Lyft also unveiled a new in-app button that lets drivers appeal deactivation decisions.

“We are constantly working to improve the driver experience,” Lyft said in a statement. Its U.S. drivers make an average of $30.68 per hour, or $23.46 per hour after expenses, Lyft said.

Uber said its U.S. drivers make an average of $33 per hour. The company also said it allows drivers to dispute deactivations.

Associated Press writers Jill Lawless and Brian Melley reported from London. Associated Press Video Journalist Melissa Perez Winder reported from Chicago.

business plan of uber

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If you spend $10,000 or more within your first 3 months* when you sign up for a self serve account .

Our approach to pricing

No service fees.

Customers that sign up directly and don't require custom solutions never pay service fees. Period.

Standard rates only

The prices for rides and meals are the same for business and personal use.

Access powerful features at no extra cost

Customizable programs.

Easily set limits and allowances based on day, time, location, and budget. You can also customize for different teams or departments.

Automatic expense reconciliation

We integrate with SAP Concur and other expense providers to enable automatic billing and reconciliation, saving everyone time.

Flexible billing options

Your business can choose to pay per trip or food order, or request a monthly bill. There are no upfront costs or minimum spending.

Custom expense codes

Save everyone time and headaches with custom expense codes that ensure that rides and meals are coded correctly for reconciliation.

Centralized payment

You have the option to let your team charge to a single company credit card. No more reimbursements or manager approvals.

Reporting and insights

Monthly reports give you unparalleled visibility into spending and usage, so you can fine-tune your policies and improve your bottom line.

Frequently asked questions

We integrate with Certify, Chrome River, Expensify, Expensya, Fraedom, Happay, Rydoo, SAP Concur, Serko, Zeno, and Zoho Expense.

The default billing option is pay per trip. Monthly billing is available to accounts that spend more than $2,500 a month.

After you arrive at your destination or receive your meal delivery, your final cost will be automatically calculated and charged to the payment method you’ve set.

Open the app and input your destination in the “Where to?” box. The price estimate for each ride option will appear.

In most cities, your cost is calculated up front, before you confirm your ride. In others, you’ll see an estimated price range.

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

*Offer only valid for organizations that create a new Uber for Business Corporate Account. Must meet spend and transaction requirements within 90 days of Account creation. Account must use a centralized credit card payment method and be approved for monthly billing during the offer period. Additional terms apply. See here for full terms.

The platform

Get the best of Uber, for business—including improved cost controls and compliance.

Expense integrations

Save time with automatic expense reconciliation

Sustainability

Get clear climate metrics such as total low-emission trips and average CO₂ per mile.

We make your health and safety top priorities.

Employee benefits

All the advantages of Uber your employees already love, for business.

The dashboard

It all starts here - manage travel and meal programs with easy to set cost controls and more.

Business profiles

Help your employees connect with your company’s Uber for Business account.

Request rides and deliveries on behalf of customers.

Purchase Uber gift cards in bulk for simplified giving.

Uber Health

Reimagine the way patients access care.

Offer business-class perks with an Uber One company membership.

Cover the cost of rides and meals, and pay only when used.

By use case

Holiday gifting

Celebrate the holidays with vouchers and gift cards

Business travel

Oversee your travel program with the flexibility and reporting you need.

Employee commute

Set up a stress-free commute program for your employees.

Event transport

Get attendees to and from your next event.

Employee shuttles

Offer group transportation for daily commutes, cross-campus dashes, and more.

Courtesy rides

Request rides for customers and guests with ease, even if they don't have the Uber app.

Meal programs

One platform gives you the control to provide meals in multiple ways.

Recruit, retain, and reward your employees with Uber perks they want.

Corporate gifting

Exec management

Request rides and meals for leaders.

By industry

Elevate customer service with on-demand rides.

Improve health outcomes and the patient experience by enabling better access to care.

Hospitality

Delight your guests with rides and meals.

Financial services

Keep your employees moving and your clients happy.

Offer rides and meals to employees and constituents.

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Customer service

Get in touch with us or quickly find answers to top concerns.

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For admins and coordinators to browse tips and topics.

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Check out recent updates we’ve made across our platform.

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Explore product education, case studies, and industry insights.

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See how innovative companies work with us.

Get the latest news from Uber for Business.

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COMMENTS

  1. How To Write an Uber Business Plan + Template [Updated 2024]

    Written by Dave Lavinsky Uber Business Plan Over the past 20+ years, we have helped over 1,000 entrepreneurs and business owners create business plans to start and grow their businesses. On this page, we will first give you some background information with regards to the importance of business planning.

  2. Uber Business Model Explained: From Start to Finish

    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.

  3. Uber Business Model

    The Uber business model is also known as a multisided platform business model, as it connects drivers (offer) and passengers (demand), in order to offer cheaper transportation and an additional source of income. According to Dara Khosrowshahi, current CEO of Uber, "Uber accounts for less than 1% of all miles driven globally.

  4. How to Create an Uber Business Plan: A Complete Guide

    Introduction Launching a successful ride-sharing venture like Uber requires careful planning and strategic execution. At Stellar Business Plans, we understand the challenges faced by startups, and we're here to guide you through the process of creating a winning Uber business plan.

  5. Uber's Business Strategy: What Can We Learn?

    Uber's business strategy can be summarised by its mission and vision statements: Transportation as reliable as running water, everywhere for everyone. Uber Mission Statement We welcome people from all backgrounds who seek the opportunity to help build a future where everyone and everything can move independently.

  6. How Does Uber Make Money? Uber Business Model Analysis

    Uber is a multi-sided marketplace, a platform business model that connects drivers and riders. It has an interface with gamification elements that make it easy for two sides to connect and transact. Uber has three main segments: mobility, freight (both are two-sided marketplaces), and delivery (a three-sided platform). Uber makes money by collecting fees from the platform's gross bookings.

  7. How to Write an Uber Business Plan + Free Template

    Writing an Uber business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan: 1. Executive Summary An executive summary is the first section planned to offer an overview of the entire business plan.

  8. Uber's Strategy for Global Success

    December 08, 2020 As Uber entered unique regional markets around the world - from New York to Shanghai, it has adapted its business model to comply with regulations and compete locally. As the...

  9. Uber Business Model: How Does Uber Make Money?

    The business plan of Uber focuses on partnering with drivers, vehicle manufacturers, payment processors, and advertisers. Advanced Technological Upgradation; In the digital age, technology stands up as a prerequisite for any business. The Uber model of business invests largely in technology. Uber application and backend servers are a few good ...

  10. How to Write Uber Business Plan? Guide & Template

    A Uber Business Plan is a comprehensive document that outlines the strategy, goals, and operational details for establishing and running an Uber-related business. Whether you're looking to start ...

  11. How To Start Your Uber Business In 6 Weeks On A Lean Budget

    Week 4: Create the MVP (Minimum Viable Product) features. Week 5: Create a promotional/ marketing plan. Week 6: Begin beta testing and fine-tuning the app for final launch. Now, I will briefly take you through every step for you to get a clearer picture of the plan to be followed for a successful launch.

  12. Uber Business Plan Template [2024]

    JUL.26, 2022 Uber Business Plan Sample ( 2 votes, average: 5.00 out of 5) Article Business Plan Templates Logistics & Travel Business Plans Table of Content Uber taxi business plan for starting your own business Do you want to create ease for people on every road they go and every turn they run? You must start an uber business then.

  13. How The Uber For Business Platform Works

    1/3 See how the Uber for Business platform works Watch the video 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. Learn more Cover rides and meals with Vouchers

  14. Uber Business Plan Template

    An Uber Business Plan is a detailed document outlining the business model, strategies, and operations plan of an Uber business. It serves as a roadmap, offering clarity on the Uber business model, which involves managing Uber drivers, catering to target customers, providing varied ride options, and potentially delivery services.

  15. How to write a business plan for an Uber cab?

    Creating a business plan for an Uber cab is an essential process for any entrepreneur. It serves as a roadmap that outlines the necessary steps to be taken to start or grow the business, the resources required, and the anticipated financial outcomes. It should be crafted with method and confidence.

  16. Business Travel and Meals

    Uber for Business gives your organization more control, deeper insights, and features built for enterprise users. Manage and track business travel, meal programs, and more on one dashboard. How to get started Check out our solutions A global platform built on the world's largest mobility network Reduce costs up to 10% by improving compliance

  17. Business Plan Template for Uber

    ClickUp's Business Plan Template for Uber is designed to help entrepreneurs and startups in the transportation industry create a compelling business plan to secure funding for their ride-sharing venture. Here are the main elements of this template: Custom Statuses: Keep track of the progress of each section of your business plan with statuses ...

  18. Sample Uber Driver Business Plan

    By Olaoluwa July 11, 2023 Here is how to write a uber driving business plan. Every person seeking to establish a passenger transport business needs to strategize and plan well ahead of time. Such plans help implement sharing economy businesses and bring it to fruition. The same applies to be an Uber driver.

  19. Getting started with Uber for Business

    Two ways to get started with Uber for Business. 1. A self-serve approach for companies of all sizes to sign up. Earn up to $1,000 in Dashboard credit after your first 3 months*. The fastest way for a company of any size to sign up and get moving in minutes. Streamlined expensing, and the ability to pay with one credit card with zero service fees.

  20. Uber Eats Business Model

    Uber Eats is the food delivery service owned by Uber, the ride-share giant.According to Uber's site, Uber Eats is their "food delivery platform that makes getting great food from your favorite local restaurants as easy as requesting a ride".Just like its mother's company, the Uber Eats Business Model is a multisided platform.. The purpose of Uber Eats, accessed mainly through its app ...

  21. Uber hits record high after unveiling first-ever $7 bln share buyback

    Uber Technologies shot to a record high on Wednesday after announcing its first-ever buyback of $7 billion worth of company shares after a strong recovery in ride-share revenue and healthy demand ...

  22. Uber Driver Business Plan [Sample Template]

    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.

  23. Uber unveils $7 billion share buyback after first profitable year

    Uber Technologies said on Wednesday it will buy back up to $7 billion worth of company shares after a strong recovery in ride-share and healthy demand at its food delivery business.. The company's ...

  24. Uber Unveils $7 Billion Buyback Plan in First for Company

    Uber Technologies Inc. will buy back as much as $7 billion in shares to return capital to shareholders after reporting its first full year of operating profit and consistent positive free cash ...

  25. Download Uber Taxi Business Plan With Financials

    4.0. Our Business Structure We plan to build an Uber driver services company that will be the standard for the industry in Nigeria. We want to have a passionate workforce that ensures that our customers and partners are satisfied and they get worth for their money.

  26. Uber and Lyft drivers plan Valentine's Day strikes

    In the U.S., Uber and Lyft drivers plan daylong strikes in Chicago, Philadelphia, Pittsburgh, Miami and other cities. ... unbiased news in all formats and the essential provider of the technology and services vital to the news business. More than half the world's population sees AP journalism every day. The Associated Press.

  27. Uber for Business Pricing

    Your business is going places. We're here to help. Get started for free *Offer only valid for organizations that create a new Uber for Business Corporate Account. Must meet spend and transaction requirements within 90 days of Account creation.

  28. Daily Digest: Uber stock roars on buyback plan; Lyft shares spike on

    Uber stock spikes on buyback plan. ... Ladan Shamskhou is the The owner of Cow Hollow's Le Bouquet told CBS that she took over the family business 12 years ago and this year the costs she and ...

  29. Uber, Lyft and Deliveroo workers in US and UK plan Valentine's Day

    In 2021, Uber recognized a labor union for the first time. The company said GMB, one of Britain's largest unions, was now able to represent up to 70,000 Uber drivers across the country.