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Junior Member
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Taxi and Shuttle efficiency solutions with upgrade capability (Immediate revenue streams!!!)
Hello,
My name is Sam Hyatt and I am the creator of a particular website/program/application/phone system centered around Taxi Cab and Shuttle efficiency both on the fleet management/personal management side and also faster, more reliant service to increase faith of success for those who have shied away in the past due to bad experiences. I recently met with a VC firm who obviously thought my original idea was credible enough to warrant a meeting and call in all partners. So we discussed the idea of which two of the partners thought was very good, but one aspect of it, caught their attention right away and they stopped me and told me to do THAT! And do it now! It will make you money! I had already done some research, prior to filing for patents on the processes/methods/applications/phone system I called my very first potential customer to discuss the plan. I spoke with the Director of Purchasing and was told, "You need to speak to the owner of the company, that is an amazing idea!" I was supplied his name and number immediately (how often does that happen on a sales call? Hehe)So, talked to him, and he expressed an interest in demoing the product as it significantly increases the efficiency of which his business operates and creates alternate revenue streams. So, armed with that I told the VCs and they suggested I speak to the President of my current company, finalize all the financial requirements, and get back with them with all the numbers, as they are who would have to supply the hardware and I did and (Him heading a VC firm in Boston, agreed as to the validity of the service) and we developed a distribution plan, but he was concerned with my ability to raise the manufacturing cost capital. So, as I left the VC meeting (in a cab) I told the cabby about my service (which is my target market) and he told me "Oh my gosh....when you get out at the airport, I am going to call my friend who is the President of the company and tell him to call you because we were about to buy this computer system and we think its too expensive". I thought he was blowing smoke, but two days later I got a call from someone I thought was a cab driver at first, so I began to detail out all the information to him and how it would benefit the drivers and create happier customers, reduce fuel consumption, and put more fares in their cabs every day. He was blown away, and I said, "Well all you have to do is tell your owner about us and we will see what we can get done." He replied, "I am the President of this dispatch company and I think it's a great idea" I told him not to buy the computer solution because all it did was allow a dispatcher to input a map trail to the customer and from there to their destination. I told him our service is a much better value allowing customers to actively find your drivers in relation to their proximity and all the expansion features and he basically did everything but hand me a P.O. on 440 Units at $100-$150 per unit/per month. $44,000-$60,000+ per month on my first customer...WOW! The cab companies will have the choice of leasing the (very easy to install or remove to transfer to another cab) equipment or buying it outright and the monthly fees stay the same. I told him how he could sublet the equipment to his drivers and earn a profit off of it and his eyes lit up. So I guess I should tell you what it is huh...???? Ok here goes...
By the way...an airtight patent application has been filed!!!
1. Website: Unable to list name---Desktop and mobile app AVL map that is downloadable to your phone, laptop, PDA, or desktop computer that allows the Taxi consumer to find on a map the closest Cab driver or shuttle driver to their proximity, click/mouse over/touch the icon to reveal the name and cell phone number of the driver and a one-touch call feature. (under developement)
2. 1800 or 1888 number---(for older phones or those without phones)Automated voice recognition program that senses your city, state, and zip through switchboard and asks you for current location address, intersection, or major airport (expandable) (being developed)
Fortunately I was able to find a company willing to produce these items in lieu of payment.
Here is what my service does for cab drivers:
1. Reduces gas expenses $100-$300 per month
2. Reduces downtime (less waiting)
3. Increases production (more fares)
4. Levels the playing field between large cab companies and smaller ones (our URL or 1800 number is the only brand displayed)
5. Free Garmin with every install ensures ability to locate and receive fares.
6. Creates an environment where cab companies can strategize placement of their taxis throughout the city to gain more exposure.
7. Call in cab orders get to skip the 'Taxi Line'....by parking in a lot closeby or driving around cabbys are exposed to business they may otherwise have to wait in line for and get nothing.
8. Increases their ability to earn a good living and spend more time at home, creating a more business owner feel to the cab driver as they have more freedom.
Here is what my system does for the consumer:
1. Eliminates the need to call a dispatcher to schedule a cab ride that may never come or is too long getting there.
2. Eliminates the need to remember a number or call 411.
3. Preschedule your ride so that its waiting for you outside baggage claim as you exit the gate.
4. Direct contact to the cabbie ensures that you are soon on your way...You know he is close and ready with no wait and no downtime.
5. Makes taking a cab a more viable solution due to lack of waiting
6. Create competitive advantages for yourself by using the 1800 number which sends a text message to ten of the closest on duty cabs in your area for immediate response.
7. Never subject yourself to riding with a cab driver you feel uncomfortable with simply because he was next in line at the airport.
8. Utilize close-by cabbys as couriers for your business as you will not have to be put in line on the couriers route, because there is a guy just two blocks over that will do it right now. (Cabbys will be able to list themselves as available for courier service)
9. Future ability to pay by credit card, gain points, and earn free cab rides through our service.
Why do I need capital and management placement?
a. I have fitting possible Executives that I could entice, but Investors will probably feel more comfortable injected into management or inserting their own trusted executives to manage spending and account for resouces.
1. The above mentioned VC firm is dragging their feet and I need to get to DEMO yesterday....!!
2. I need capital to pay for the software, phone system, website, and logo design.
3. I need help incorporating the business
4. I need capital to secure the infrastructure needed to start it.
5. I need capital to gain a marketing firm to develope broshures.
6. I need capital to purchase business cards and various advertising materials for taxi consumer hotspots.
7. I need capital for manufacture of transmitters (existing technology and once the customer takes delivery they will be paid, unless a lease is established)
8. I need capital to secure an order for the other materials needed for installation
9. Capital needed to furnish 1st generation Garmin GPS for each unit ordered.
Capital Needed:
1. Each unit and antenna is around $1200 (Current manufacturer is making profit, but not requesting any other involvement in the company)
2. $500,000 to $750,000 to start manufacturing and roll out marketing materials and complete every other phase of starting this business.
What Investors can expect:
1. Lease: ROI in 10-15months
2. Purchase: ROI 4-6months (depending on manufacture and install time)
3. Recurring revenue of $100 to $150 per month/per unit (we are responsible for activation and monthly charges of $15 each)
4. Employed marketing strategies in place to starve other cab companies into buying into the program.
5. With Internet marketing, cutouts at key places in businesses who are in the service industry (providing it as a value added service to their clients), and business card marketing done by the cab drivers, a guaranteed growth pattern that will only continue.
6. The continued need to raise capital for each client obtained to finance manufacturing. (unless revenues are adequate to supply)
What I expect:
1. I have people that will work with me, but their cut is too large and I'm not an idiot. I want an equal portion to however many splits take place. To go IPO. To not exercise selling as an exit strategy (If you want out, I will buy you out).
2. This is a high profit business--I will only accept partnerships with those looking to build a monster, who believes in creating a great working atmosphere for employees.
3. For my partners to understand that we will provide quality medical, dental, and vision insurance.
4. For my partners to believe in and foster an open door policy and that no one person is better than the other and that great ideas and innovation is to be welcomed and rewarded.
5. To sell Franchises in markets other than the originals (negotiable)
Dangers:
1. Explosive growth by word of mouth or hype: I am not sure the manufacturer can keep up and supply my current employer with the units they need too.
2. Nothing
Thank you for your time and I look forward to pursuing this venture.
Sam Hyatt
Founder
BluCast
214.264.2809
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