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Pune's Loco Cabs serves as a market place for small cab companies.
Have you often been juggling between several wireless cabin applications to find the nearest journey with the cheapest fare and the best offer? Exactly this issue prompted Neha Bora and Shalak Naik to develop a beta research tool for on-line and off-line cabs. "When we talked to more folks, we realized that this was a concern not only for cabs, but especially for all other branches of the taxis industry, namely interchange, air traffic and rental per hour," says Neha.
Loco Cabs, a Pune start-up, wants to be a complete cabin solutions provider for all cabin needs - both within a single town and in town. Founded in 2014 by Neha (35) and Shalak (39), two buddies who have been sharing their passions for technology, start-ups and enterprise since their time at university, Loco Cabs was born.
Neha, who is responsible for Finances, Operation and Sales at Loco Cabs, is a post-graduate in Accountancy and Finances from the London School of Economics and has more than 10 years of professional practice in leading positions in the field of Equities Research and corporate finance. As more than 14 years in the tourism business, he has a profound knowledge of on-line and off-line tourism and transportation delivery.
At Loco Cabs, he is responsible for the company's ongoing strategy, alliance management and growth. Currently the Loco Cabs application has more than 18,000 Android and Windows patches. Start-up is planning to start web bookings for internship trips and the iPhone application by mid-year this year. What's with the cabs? "India's $9 billion taxis sector has historically been off-line and disorganized.
Only taxis that drive under big name like Ola, TaxForSure or Uber are responsible for this group. In Loco Cabs we plan to resolve the problems of other vertical lines in the taxis as well. A preliminary survey carried out by the teams showed that small taxis, such as single owner taxis and taxis in the local markets, are still dependent on telephone reservations to obtain fare.
The Loco Cabs can close this loophole by linking these smaller cabin providers to those who need theirs. What is different about Loco Cabs? Despite competing with Ixigo and Wiwigo, Loco Cabs distinguishes itself through some of its unparalleled offers in the taxis business. The Loco Cabs focus on small businesses and wants to be a place for them to enter a larger business without having to spend a lot on research, development, marketing costs and technologies.
They also gain insight by depicting patterns of demands and supplies to better understanding potential markets and optimizing operation. Smaller cab companies can also team up with Loco Cabs with a Pay-as-you-go that doesn't blow a leak in your pockets. Within this scheme, the operator is required to make payment only for journeys that have been started via the application.
There are no registry costs or subscriptions for Loco Cabs. Loco Cabs offers these small entrepreneurs an added benefit of consistent branding by enabling them to market their services under their own name without watering down their brands. In addition, Loco Cabs will provide a one-way ticket price for inter-city journeys by eliminating the pre-calculated round trip price.
Taxis as well as travellers profit from this by reducing the ticket price by 40 percent. Loco Cabs aims to reach at least 150 daily interchange trips by mid-2016, earning a seven to twelve percent revenue per trip revenue. But Loco Cabs AP was not just designed for the convenience of cabowners.
Our staff made sure that there was something for the guests as well. As a market place, Loco Cabs customers can make easy comparisons and make educated travel choices on the basis of prices, availabilities, rebates and user-generated operator and driver evaluations. Loco Cabs, which has been fully boosted since its inception, is planning to take taxi owners on to the boat and reach consumers in all of Maharashtra and Goa's large towns.
Now they have begun an active quest for financing expansion to look after their own futures.