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The system was to capture information about the car in the form of usage per miles and hours which was then sent to a central location for billing. Originally the business model was based upon a wireless technology platform which would allow members to make online reservations and access cars at designated parking spots through specific zipcards. The critical success factor for this business is the ability of the service to attract the target market with its low cost and convenience driven model since the business would require a regular revenue stream for a successfully covering the costs and generating a positive inflow.Ĭhase has managed to launch the idea even though the wireless platform has not been developed yet which shows that she did not want to let the company down by postponing the launch of the service and this shows considerable effort on her part to have taken this strategy and idea forward as a potential business venture This shows how the initial investment was not worked out well and neither were the sources of finance planned out effectively. Even then the business requires an additional investment of $1.3 million for being built on the pattern as originally planned out by the entrepreneurs. This business model has already used up $50000 as the initial investment in the form of cash borrowed from friends while an additional contribution of $375000 was made by a venture capitalist. Corporate overheads are expected to be $44000 per month while the Boston office alone has overheads of $14000. There are additional variable costs in the form of fee for consultants and software developers for developing the wireless technology system for the business but these would be non-recurring costs since they only have to be incurred till the development is complete. The main cost drivers (Appendix 2) in this business model are in the form of corporate overheads and cost of goods sold such as lease costs per car, fuel, insurance and maintenance for the cars along with parking and equipment charges for each car. Additional revenue heads include late fee charges.(Appendix 1 ) The major impact on the revenue is from an increase in memberships which not only leads to an increase in security deposits but also to a potential rise in variable revenue heads such as per hour/mile charges. The multiple revenue streams in this model include revenue from an annual membership fee, application fee for new members, security deposits and variable income in the form of charges per mile and hour. This car sharing service allows members to access cars parked at designated spots through zipcards which are issued to members and provide convenience to individuals who do not own a car and yet do not want to go through the hassle of keeping a private car. Ever.Chase’s care sharing venture, Zipcar, is a typical example of a revenue model with multiple revenue streams.
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In all, ditch ZipCar, and never use Avis. While on infinite hold with support, I surmised their entire shitty system crashed, and it was only by sheer luck that it came back online only 10 minutes into my hour-long reservation. The final straw, though, was I couldn't get the car unlocked for 15 minutes. Fortunately after several calls to their shitty support, I finally got a car to use. The last time I booked, the car was just gone and they had no idea how to find it in fact, in its place was an entirely different car which I think was from a different city. Now I have about 50/50 luck in getting a reservation to work-where I book a car and it is available and in working order when I arrive. spare tire mounted to a car for 45 days.) Often reserved cars would just disappear and they'd offer to change my reservation to something an hour walk away: every time I'd need to tell them to change the reservation time to reflect the walking time to get to the friggin' car. I first started having problems with them after Avis bought them out. The cars were available and in good working order there were a variety of models to choose from and the support center had a nice clear connection and were actually helpful. Long before Avis bought them out in 2013, it was awesome.