1. Introduction to MYCAB & NYC transportation analysis.
There are currently quite a few services out there that can be similarly related to
our new business (service) idea. One of the services that already exit’s is a basic cab
service. The widely recognized classic “yellow taxi” cruising up and down the streets of
New York City. One company, known as New York City’s Taxi and Limousine
Commission, supervises all of these cabs’. The TLC, licenses and regulates over 50,000
vehicles and approximately 100,000 drivers. It also performs safety and emissions
inspections on more than 13,000 medallion taxicabs approximately three times each
year, making it the most active taxi and limousine-licensing agency in the United States.
("Licensing - NYC Taxi & Limousine Commission.") Only "medallion taxis," the
“classic” taxi painted in distinctive yellow paint and regulated by the TLC, are permitted
to pick up passengers in response to a street hail. The TLC also regulates and licenses
vehicles, known as “car services” or “personal vehicles” which are prohibited from
picking up individuals by street hail. These vehicles are strictly to pick up only customers
who have called the car service's dispatcher and requested a car for pick up.
Public transportation is also vigorously used all through out New York City’s
boroughs; the biggest public transportation service in New York City is Metropolitan
Transportation Authority, also known as the MTA or the subway system. MTA New
York City Transit is the largest public transportation agency in North America and one of
the largest in the world. The subway has more than five million riders per day. The MTA
consists of 6,380 subway cars, which travel almost 345 million miles a year, along 660
miles of track. The MTA operates 24 hours a day, seven days a week, unless planned
other wise due to maintenance or any other incontinences. ("Mta.info | About New York
City Transit.") To be prepared, you can look up detailed schedules online for anytime of
day. There are 468 subway stations, including 89 made accessible to customers with
disabilities, via elevators and ramps. NYC Transit Subway operates in New York City’s
five boroughs, Brooklyn, the Bronx, Manhattan, and Queens and Staten Island, through
the MTA Staten Island Railway (SIR). ("Mta.info | About New York City Transit.")
2. Buses are also used a lot for transportation in New York City. MTA also owns
their own bus fleet that is composed of over 5,900 vehicles. This is the largest bus fleet in
North American with an average of 2.69 million riders a day. The busses travel on more
than 280 local and express routes throughout the five boroughs, traveling more than
130,000 miles a day. NYC Transit had the first bus fleet in the world to become 100
percent accessible to customers with disabilities, this was a big hit when first introduced
and attracted users. ("Mta.info | About New York City Transit."
If one feels the need to splurge, and has the money to do so private charter
services’ are popular among the wealthy. Private drivers can be used for social use, on
nights and weekends or for casual use, any time you need to go somewhere you tell your
driver and he escorts you. They can also run your errands, act as a family driver or as a
security guard. Many top executives have cars and drivers. A chauffeur’s pay is between
$75,000 and $125,000 a year, or more if one wants former police officers that can double
as bodyguards. (Salkin, Allen. "Trying to Live on 500K in New York City -
Last but not least, personal car ownership. For someone who goes to the car
dealership, picks out a car, pays for it and drives it off the lot. Very few people own their
own car’s in New York City because of the hustle and bustling traffic all hours of the
day, cost of gas and limited parking space. Purchasing, fueling and maintain your own
vehicle is also an option for those in need of transportation in New York City, but let it be
known; its not very common.
After a lot of research, it is clear that our two biggest competitors are average
taxicabs’ in New York City operated by the TLC, and the subway system also known as
As stated prior The TLC licenses and regulates over 50,000 vehicles and
approximately 100,000 drivers. As for price, the company’s prices range depending on
the distance traveled. The standard city rate is, $2.50 upon entry and $0.40 for each
additional unit. Units are considered; One fifth of a mile, when the taxicab is traveling at
6 miles per hour; or 60 seconds when not in motion or traveling at less than 12 miles per
3. hour. The taximeter in the cab will combine fractional measures of distance and time
when generating a unit of fare. The taximeter will compute any combination of distance
or time in correspondence with the National Institute of Standards and Technology
Handbook 44. In this case, the fare should include prior appraisal of the unit currently
being collected, the amount due may include a full unit change for a final fractional unit.
There is also a night surcharge of $.50 after 8:00 PM and before 6:00 AM, as well as for
peak hours, which a weekday surcharge of $1.00 is charged Monday – Friday after 4:00
PM and before 8:00 PM. Finally, a New York State surcharge of $.50 is added. As for
additional costs, the passenger will pay tolls that any bridges or tunnels have in route to
the final destination. Taxicab final rates vary per individual, based on their destination
and travel distance from point A to point B. ("Taxicab Rate of Fare - NYC Taxi &
The next biggest competitor our new service company will have is the MTA. The
MTA New York City’s Transit is the largest public transportation company in North
America and one of the largest in the world. The subway has more than five million
riders per day. MTA offers many different packages to their customers, due to each
individual’s personal use of the MTA. As for subway fare’s, the cost of a Single Ride
Metro card is $2.50, which can be purchased in various locations such as gas stations,
deli’s or subway stations. One swipe will take you to your destination, where transfers to
other trains or busses will be available along the route. Another option is a Pay Per Ride
Metro card (which is most popular). You can purchase as many rides as you’d like
depending on how frequently you will use your Metro card, with prices ranging from
$4.50 to $80.00 plus. A little bonus is, if you put $10 or more on your card you receive a
7 percent bonus. (For example, if you purchase a $20.00 Metro card, you are only
charged for that $20.00 but you will receive $21.40 on your card. When your card is
empty, you can refill that exact card to use the remaining balance, or just purchase a new
Metro card. Another bonus is that you will get an automatic free transfer between subway
and bus, or between buses. (Another example, if leaving from St. John’s University; you
would take the Q46 bus to Kew Gardens. By using your transfer you pay only once, when
you swipe your card to get on the bus, and ride the subway free of charge, due to your
4. free transfer.) For very frequent users there are a few options to purchase Unlimited Ride
Metro cards, These Metro cards offer you several ways to save on your commute
depending on which card you choose, how much you save depends on how often you
ride. (The 7-Day Unlimited Ride Pass, The 30 Day Unlimited Ride Pass or the 7-Day
Express Bus Plus Metro card.) The 7-Day Unlimited Ride Pass which costs $29.00, this
card saves you reduced fare $14.50. This type of Metro card is good for unlimited
subway and local bus rides until midnight. Lasting exactly 7 days or 168 hours after
purchased. The 30-Day Unlimited Ride Metro Card costs $104.00, saving you $52.00.
This card is good for unlimited subway and local bus rides until midnight, 30 days from
day of first use. A plus side to purchasing this card is that, it is protected against loss of
theft when purchased at a vending machine with a credit or debit card. Lastly, The 7-Day
Express Bus Plus Metro card costs $50.00, for this particular card there is no reduced
fare. This Metro card is good for unlimited express bus, local bus, and subway rides until
midnight, 7 days from first use. This card is also protected against loss of theft when
purchased at a vending machine with a credit or debit card. ("MTA/New York City
Transit - Fares and Metro Card.")
"Licensing - NYC Taxi & Limousine Commission." Web. 08 Nov. 2011.
"Mta.info | About New York City Transit." Mta.info | Home Page. Web. 08 Nov.
"MTA/New York City Transit - Fares and MetroCard." Mta.info | Home Page.
Web. 08 Nov. 2011. <http://www.mta.info/metrocard/mcgtreng.htm>.
Salkin, Allen. "Trying to Live on 500K in New York City - NYTimes.com." The
New York Times - Breaking News, World News & Multimedia. Nov. 2011. Web. 08 Nov.
"Taxicab Rate of Fare - NYC Taxi & Limousine Commission." Web. 08 Nov.