It is very frequent for drivers in dense area to struggle to park their car. Indeed, there is often too many cars for the number of spots available. Many drivers say that finding a spot is a loss of time and a frustrating moment. What is even more frustrating is to see streets without available spot but with plenty of empty spots. Although counter-intuitive, this scenario is very frequent. Indeed, all the parking spots in front of personal garage, or driveways, are not in use for most of the time. Copark will take advantage of this observation by allowing driveway owners to put their personal spot at the disposition of other users. The driveway owner will in exchange make a profit but most of all, he will be part of the sustainable initiative that Copark proposes.
The following paper is a business plan based on this driveway sharing, the name of the service is Copark.
The chapter 2 will define the industry environment of the future company. It will start by analysing the market in which the service will operate thanks to a macro environmental analysis. The need for a service such as Copark will be presented along with the already existing solutions. Finally, a Porter's Five Forces analysis of the highlighted market is proposed.
The chapter 3 will clearly state what Copark is offering. The competitive advantage of the company will be explained, with a comparison on the strategies of its competitors. The strategy on how to reach the customers is then presented. To finally conclude with an internal analysis of the service.
The chapter 4 is the marketing plan of the company. The first part defines the relevant market. The pricing of Copark is then analysed, to finish with the distribution plan and the communication plan.
The chapter 5 will explain how the operation of the service will be handled. The team in charge of managing Copark is then described. The chapter concludes on the precise way of using the offer of the company.
The chapter 6 lists the critical risks of the business model and concludes with a SWOT analysis.
Finally, the chapter 7 is the financial plan of Copark. The first part describes the cost structure, the revenue of the company and how they are estimated. Then, income statements, cash flow statement and balance sheet based on the previous estimations are proposed. As the whole business relies on variable, an important sensitivity analysis will explain how different scenarios impact the company. The next section describes the funding process of the company. Finally, the key take away of the financial plan are summarised.
Read the full business plan here.