Principles of Entrepreneurship

BUS 321
Sec -04

SUBMITED TO:
Mr.Ahmed Abir Choudhury, Lecturer
BRAC Business School , BRAC University

Submitted by-

1. Ahsan Noor Abir (13204104)

2. Md.Jahidul Islam (14104085)
3. Shahjalal Talukder (14104089)
4. Riyadh Morshed (14104101)
5. Azmal Bashir Shihab (15104207)
6. Kazi Faisal Antu (14304154)
7. Faria Akhter Shemen (14104115)

The Business Idea

There are almost 2 lacs privately owned vehicles in Dhaka city. What about others who do not
have one? People in our country suffer from lack of transportation mostly. Our plan is to start an
app based transportation network company. Among thousands of limitations, transportation is
one of the most common one for the people living in Dhaka city. To fulfill the increasing demand
to this, we will make an app to start a business in this sector.
Transportation is a big issue in Dhaka city. Finding a ride to move from one place to another is
not an easy task to do. Citizens of Dhaka city are getting frustrated because of this. We, to solve
this problem, have come up with an idea. We will bring an app based platform for the citizens of
Dhaka city where they can book CNG auto-rickshaws from their home or from their respective
location from where they want to go somewhere else.
Our plan is to reduce the transportation problem from Dhaka city and make money as well. Our
business is definitely feasible since we are the last mover in Bangladesh and we gained the
experience from first app based ride-hailing company, Uber. The major constraints to start this
business are competing with Uber, grabbing the attention of people, political instability,
maintaining the government regulations etc.
As the rent of Uber is increasing now and the price is relatively higher than CNG autorickshaws, so our market share will be the whole of the mid-ranged working class of people.
Although we believe we will be dominating the market initially, in the long run if any competitor
tries to enter the market, it will be difficult for them to enter and grab any share of our market if
we can keep up with providing a good service. To log in to our app, people have to use their
smart NID card numbers and their phone numbers. Our app will collect this information and they
will be stored in database. So, security of both the passengers and drivers will be strong here.
The app will be charging money from the people who book CNG auto rickshaws. For the first
five years, most of our profit will come from the app. Initially, we will be launching 50 CNG
auto rickshaws maintaining the government regulations with proper legal advisory. Drivers will
be giving us BDT 900 on a daily basis as per government policy. In our estimation, after starting

the business with about 70% debt and about 30% equity, we will be able to pay back the loan
within the 5 years time along with restoring some profit. And once the loan will be repaid, since
then we will be generating a good profit. Like every businesses, we will be facing risks too. So,
to overcome the problem we will be prepared to prevent the risks that will occur further by every
possible ways.