Tokyo Bicycle Rent Application (TBRA) for Olympic 2021
TBRA presents a superb opportunity in my local market for local bicycle providers for the 2020 Olympics. There are no direct competitors for now. Revenues are expected as 330.000$ for first year and will keep stable as 500.000$ for each year later.
TBRA is a mobile application for travelers to find nearby bicycle renting places. They can go directly by foot and rent the bike they like.
Manage and operation:
TBRA will have zero managers and 5 employees. TBRA team will maintain systems, connect bicycle renting vendors, and do SEO for the application.
Opportunity: TBRA presents an exciting opportunity in my local market with travelers who come to Tokyo in 2021 to support their favorite Olympic sport teams. For the first year, we will spend money to claim users and get connections with local bike vendors.
On Friday, July 23, 2021, the 2020 Olympics will be held in Tokyo. All people around the world will go to Japan and the need for bike services will increase. According to simple statistics of the 2016 Olympics in Rio De Janeiro, around 6.6 million travelers arrived in Brazil.
“A total 6.6 million international travelers visited Brazil last year, the tourism ministry said, 4.8 percent higher than the year before.” - VOA news
If we can get 5% of these tourists to use our applications, taking 1$ per each trip, our revenue totally will be 330.000$.
These are some good applications I found: NextBike, oBike-Stationless. One of them has around 1M downloads but they don’t have connections/vendors in Tokyo for now. We can research their business flow/application flow to contribute to our business model.
- Application development : backend, map service, mobile app. Salary for developers: 3 developers * 50k$ = 150k$
- Station: Zero cost, for the first year, we can connect with existing local vendors.
- Bike: Zero costs, from vendors, we take a small fee for each user’s ride.
- Application Infrastructure: 10k$
- Vendors connection: 40k$
- Risks: problem handle 30k$
Total cost: 230.000$
Second years and laters:
Sales & Revenue Projections:
1st year: 330.000$
2nd year: 500.000$
3rd year: 500.000$
Revenues are expected to increase from 330k to 500k in three years.
Startup Costs: 230.000$
2nd year: 300.000$
3rd year: 200.000$
Costs are expected to increase from 230k to 300k and decrease to 200k in the first 3 years.
Profit Statement Expected:
1st year: 100.000$
2nd year: 200.000$
3rd year: 300.000$
Income is expected to go up from 100k to 300k in three years.
Well it's the past, but when looking back I feel it's really satisfying. At least i put something on paper. Today I've just asked ChatGPT for improvements, it gave mesome ideas?
Clarify the value proposition: While it's clear that TBRA will allow travelers to easily find and rent bicycles, it's not clear what the benefits are for the local bike vendors. What incentive do they have to partner with TBRA? You may want to consider offering a revenue-sharing model or other benefits to encourage vendor participation.
Conduct more market research: While it's helpful to have statistics on the number of travelers who visited Brazil during the 2016 Olympics, it's important to gather more detailed information about the target market in Tokyo. For example, what are the demographics of travelers who are likely to use TBRA? What are their preferences and pain points? This information will help you refine your marketing and product strategies.
Develop a more detailed marketing plan: It's great to have a goal of getting 5% of Olympic tourists to use TBRA, but how exactly do you plan to achieve this? Consider using a mix of online advertising, social media, influencer marketing, and partnerships with travel agencies or hotels to increase awareness and drive downloads.
Consider the costs of ongoing maintenance and support: While your startup costs seem reasonable, it's important to factor in the ongoing costs of maintaining and updating the app, providing customer support, and managing relationships with vendors. These costs may be higher than you anticipate, so it's important to plan accordingly.
Explore potential partnerships: In addition to partnering with local bike vendors, consider other potential partners who could help you reach your target market. For example, you might partner with a tourism board or travel app to promote TBRA to travelers.
Overall, your business idea has potential, but it's important to do more research and planning to ensure that it is successful. Good luck!
Potential idea? I'm too bad, has no courage, no brave enough to challenge myself?