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LEAN STARTUP MANAGEMENT
DIGITAL ASSIGNMENT-4
NAME: SWETHA.M
REG.NO: 19MIS0083
SLOT: TE1
Q) Consider area near VIT Campus within 5 Kms. Identify an untapped

business opportunity. Present your business idea in about 2000 words.
Make sure to include a brief sketch of marketing, finance, HR and
logistics/supply chain activities of your proposed business idea. Why do
you think that your idea will flourish in the long run?
SPIN AND RIDE (MOPED RENTAL SERVICE)
There is an opportunity for a thrilling and worthwhile new enterprise in

Vellore. Spin and ride will hire mopeds to University of Vellore students,
in addition to all of us who could have a want for efficient, around-city
transportation. There is presently no enterprise like this, in Vellore, which
caters to this market.
For barely greater than the fee of a month-to-month mobile
telecellsmartphone bill, it's miles viable for a scholar to have their
personal mode of transportation all through the college year. Mopeds
have many high-quality benefits over cars: decrease running costs, gas
efficiency, and are much less abruptly-priced to maintain. It is likewise
viable to insure those automobiles for around 1000-1500 rupees per
month.
The goal marketplace for this enterprise will be the about 15,000 full-time
college students. There also are hundreds of college students who're
commuting every day from the vellore to chittoor area. Parking on
campus is difficult to find, and the bus gives few options. This is in which
the low cost moped comes into play.
MARKETING:
We see this marketplace as especially made of college students. Since a
majority stay near the campus and feature a confined budget, this could
be an awesome alternative for them. We additionally assume getting a
small quantity of clients which might be outdoor of the college
community. These clients could be ones who usually have a shorter trip
or need an ex-trade of pace.
We assume that this marketplace will develop in ways. First, it's going to
develop could be as fuel line fees keep to increase. This will make the
price of using a vehicle even extra high-priced and Spin and ride
Mopeds an extra appealing option.
Second, it's going to develop with the in and around university students.
As the wide variety of college students increases, so will the goal
marketplace and the wide variety of college students who're intrusive
about our product.
FINANCE:
Spin and ride rentals is a low fee moped condo business. To finance the
business, we've stored up the sum of 10 lakhs. This sum might be
utilized in shopping for our fleet of moped in addition to spare elements
so that it will want to be modified while damaged. We are placing apart
20% of those price range as walking fee. The common fee of a unit
might be round 15000 relying at the seller.
Fleet expenses and associated tools – If the 15 motorcycles had been
bought for 20000 every, your start up fleet expenses three lakhs. This is
on the low cease of recent motorcycle expenses, and preserve in
thoughts that great and sturdiness are crucial due to the fact they are
prone to take a beating. You can get one concept of expenses through
travelling this fleet-income internet site. You may spend a few cash on
such associated tools as helmets and motorcycle locks.
Repairs – This is tremendously variable; however, you can spend 50,000
a year or extra on tools, components and substitute motorcycles. On an
associated note, ensure you set up a courting with a motorbike product
distributor so that you constantly have get admission to substitute
components and brief delivery. None of your motorcycles need to be
side lined for extra than days.
Staff – This fee can variety out of your personal earnings expectancies
when you have no personnel to numerous staffers at a famous venue or
extra than one. Make certain you as a minimum have one motorcycle
mechanic except you may do the task yourself. Figure as a minimum
8000 in pay and withholdings for every hour you will want covered.
Rent – This can variety from not anything in case you are given area at a
lodge for the lodging in their guests, to winning industrial rents. Make
certain to hire the smallest quantity of area you will want for motorcycle
storage, show of associated merchandise (if any) and client transactions.
Liability insurance – Check charges for your area. Although you will
make your clients signal waivers liberating you from obligation for
accidents, this is now no longer possibly to be powerful safety if the
situation of the motorcycle is the motive of accident.
Professional services – You need to seek advice from a lawyer, as a
minimum for drawing up your client waiver, and accountant for start-up
expenses. In addition, you might need to seek advice from a photograph
fashion dressmaker and internet developer for logos, signage and
internet site creation. These expenses can be as a minimum 30000.
HUMAN RESOURCE:
So, first we recruit a HR who indeed recruit
freelancers to start making surveys nearby as well as online. This will
help us get a clear view about the customer’s needs and idea to
integrate.
Gathering more workers so that every work will happen
on time and some workers to find people who haven't returned bikes
after the due date. Workers to deal with legal agreements and bike
insurance paper works also.
BUSINESS MODEL:
Making a business model is crucial, this makes us poster our goals and
aspects of the business in clean manner. This will also make it easy for
the developers to develop an app accordingly. We must also make
research on the market competition and plan accordingly; this helps our
company growth in longer term.
GROWTH POTENTIAL:
The bare necessities of a motorbike rental commercial enterprise are a
station to shop and restore motorcycles and behaviour commercial
enterprise, a small fleet of motorcycles, and seasonal personnel at or
close to minimal wage. You should rent one mechanic to provider
motorcycles at more than one location, or expect the duty yourself if you
are so inclined. Therefore, growth is notably clean as soon as you have
discovered a way to correctly run one location.
How a Typical Rental App Platform Works?

Bike rental app systems make the method of renting a two-wheeler fast,
hassle-unfastened and on-demand. Majority of them provide their apps
for each Android and iOS devices. Through such apps, the customers
can modify their account, take a look at close by motormotorcycle
stations, locate to be had motorcycles, make reservations and pay
securely. The entire method consists of some easy steps:
 Firstly, the consumer desires to sign in through an app/website.
 On the house display of a bike cooperative app, you'll offer the
pickup vicinity and reserving date.
 Then the consumer can view the listing of to be had bikes.
 The bike info web page offers extra information about the chosen
bike to make the choice method easy.
 After deciding on the motorcycle, the consumer can upload add-
ons if needed.
 Then the evaluate cart web page seems in which the consumer
can undergo the entire reserving earlier than making the charge.
 Finally, at the bill’s web page, the consumer can select the charge
choice and make the charge to verify the reserving.
 After finalizing the reserving, the rider can both choose it up from a
close-by bike station or select to get it added at his doorstep at a
further cost.
 When finished the use of the bike, the rider returns the bike to a
delegated bike station.
KEY TO SUCCESS:
1. Good customer service and value.
2. Affordable rental prices.
3. Reaching the target market.
4. Integrity in serving our customers; resulting in repeat
purchases.
PLAGIARISM CHECKER

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LEAN STARTUP MANAGEMENT

Q) Consider area near VIT Campus within 5 Kms. Identify an untapped

SPIN AND RIDE (MOPED RENTAL SERVICE)

There is an opportunity for a thrilling and worthwhile new enterprise in

How a Typical Rental App Platform Works?

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