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Pitch.swifte
SWIFTE is a university ride-sharing app that allows students to share rides with fellow classmates for low prices around college towns and between cities. The app launched initially in Georgia and California universities in 2016, and plans to expand nationwide. It generates revenue through a 20% transaction fee on rides. SWIFTE expects to gain 76,000 rides in year 1, 360,000 rides in year 2 by expanding to top carpool states, and over 1 million rides in year 3 by launching at universities across the US. Initial seed funding of $100,000 will be used for app development, marketing, brand ambassadors, and regulatory requirements.
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Pitch.swifte
- 1. Lore issue dolorsit amet, consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat. Ut wisi enim ad minim veniam, quis nostrud exerci tation ullamcorper suscipit lobortis nisl ut aliquip ex ea commodo consequat
- 2. Plus Presentation Template NewYork Seattle San Francisco San Jose Los Angeles California Michigan New Jersey Florida District of Columbia Source: courtesy of GOBankingRates.com Traction / Validation Website Traction : 20,247+ Views App Downloads: 500+ SWIFTE’s primary target: Top 10 cities for carpooling in US Current Number of school: 15 University in 5 States
- 3. As of Fall2015, 20.2 million students are expected to attend American colleges and universities , with on average 12.1 Million (60%) of student body without cars, and 2 million foreign students (7%) 3 Market 40% 60% USA College Student Market With Cars 8M W/T cars 12M American International
- 4. Drivers with extraspace Riders with a need for a ride The Problem - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
- 5. Legal Responsibilities How arewe different from Uber? Legal ridesharing • SWIFTE is protected by USA Public Law 112-141 (MAP 21 Section 1501) passed in 2012, which defines qualified "real-time ridesharing" programs. The IRS sets the allowable limit for deductible mileage, if used for business or commuting purposes, and that amount is currently $0.56 per mile (currently IRS has no separate cost factor for electric vehicles). SWIFTE mileage rates are fixed for all riders and drivers, and tiers down from $0.20 as a method to equitably share the cost of a journey, assuming 2-3 persons per car. All SWIFTE pilots are funding by the Federal Highway Administration, and include participation from the State level Department of Transportation, and the County level Transportation Authority. The purpose of the rider fee is NOT for the driver to make a profit, but rather to automate the human behavior of "chipping in" for gas at the end of the week, or month, between carpool buddies. Finally, any driver can provide a FREE trip to any rider. Reference - SEC. 1501. REAL-TIME RIDESHARING • Paragraph (3) of section 101(a) of title 23, United States Code (as redesigned by section 1103(a)(2)), is amended by striking ‘and designating existing facilities for use for preferential parking for carpools’ and inserting ‘designating existing facilities for use for preferential parking for carpools, and real-time ridesharing projects, such as projects where drivers, using an electronic transfer of funds, recover costs directly associated with the trip provided through the use of location technology to quantify those direct costs, subject to the condition that the cost recovered does not exceed the cost of the trip provided’ 5
- 6. Plus Presentation Template TheSWIFTE APP Mockup 6 • Students must sign in with a valid facebook page, phone number, and university email • Student Drivers must apply to drive with valid insurance and license Safe Students Drivers can post rides & purchase seats from fellow students Convenient Price are set by drivers to spit the cost of gas because the driver would already be going in the direction Economical Swifte is a university ride-share App, which allows students to share rides with their fellow classmates for a low price around their college towns and from city to city.
- 7. Business/ Revenue Model 7 20%Transaction Fee. Set Price in Specific Parameter Local & Global Ads plus data sales .
- 8. Let’s talk aboutCompetition 8 Trip back home from Athens, GA – Atlanta GA – 1:20 Hour $0.00 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 Flight Uber/Lyft Train/Metro Bus/Megabus Swifte AverageDollarAmount Route: Los Angeles to Select Destination Average cost for using available means of transportation
- 9. Plus Presentation Template MarketingStrategy 9 College Students Campus Launches Email Marketing Brand Ambassadors Freshmen Orientation Group Presentation Social Media - SNAPCHAT Flyering on Campus Sponsored Events Clean air campaign & GA commute option
- 10. SWIFTE 2.0 –Launch September 15, 2016 University of Georgia Georgia State University Atlanta Tech University Clark Atlanta University Morehouse College Spelman College Columbus University West GA University 10 West GA University Auburn University UCLA University of Texas – Austin University of Minnesota University of Wisconsin – Madison Georgetown University Howard University
- 11. Marketing & Grown:What’s Next for SWIFTE? Year 1(October 2016 – October 2017) : Georgia & California Universities 355, 000 Students x ( 10% conversion rate) = 76,000 rides Year 2: (October 2017- October 2018) : Top 10 carpool states 5,000,000 x ( 10% conversion rate) = 360,000 rides Year 3: (October 2018 – October 2019): Expand to universities in the United States; 1 Million download 22,000,000 x ( 10% conversion rate) = 1,000,000 rides 0.00 200000.00 400000.00 600000.00 800000.00 1000000.00 1200000.00 Year 1 Year 2 Year 3 Number of Expected Rides
- 12. Financial Forecast Expected Revenue Year1: $75,239 76,000 (Rides at $20 minimum) x $2= $304,000 BREAK EVEN : 3,000 rides Year 2: $238,700 360,000 (Rides at $20 minimum) x $2 = $1,440,000 Year 3: $1,000,000 1,000,000 (Rides at $20 minimum) x $2 = $4,000,000 300K 1.4M 4.0M 12.0M 36.0M
- 13. Sofia DeMay California MarketManager Meet Our Great Team John Craft Marketing Manager Justine Avoudikpon Founder & CEO Titi Alawode Fundraising/Accounting Elvin Alshanoc Software Developer Yosra M’Hamdi Software Developer
- 14. Competitive Advantage: FacebookPages SWIFTE Marketing Director: Alex Lang • Created a network of school ridesharing page with over 700,000 students • Will allow SWIFTE to market on all of the pages *Picture Example • Marketing Technique: Inform the users that the page will be deleted in 30 days and member must transfer to the app!
- 15. Phase 1 SeedFunding $23,000 – App development & Research $20,000 – Social media & Banners $27,000 – 20 Brand Ambassador $10,000 – Freshmen orientation marketing $20,000 – Risk Management & Regulatory requirement ________________________________________________________ $100, 000 More Information: Justine Avoudikpon Email: Justinea@uga.edu Phone: 706-461-6395 Web: www.getswifte.com
Editor's Notes
- #2 Swifte is a peer to peer transportation platform. The core service of our company is to provide people with reliable, safe, and afforadable transporation that brings people together and helps reduce CO2 emissions!
- #3 So It is expensive to own a car in California, the roads are as congested with ever with so many single drivers, so why is there no feasible alternative? With new company’s like Lyft and Uber making up for lack of efficient public transportation within cites, why is there no solution for traveling between cities? “Even with the well-documented and rapidly rising costs of the state’s traffic congestion and costs associated with the deteriorating condition of the state’s roads, Californians continue to rely on single occupant vehicles for the primary mode of transportation” California – The Land of the Car One of the most segmented layout of demographic, biggest populations, and most cars ** Transportation system is underfunded We servied over 200 students across 5 states and 90% of them mentioned that they are all willing to carpool with others. I started this idea in december, and by march invested 6K of my peronal saving into developing android & apple version of the app. We launched at UGA in March and in 2 months accursed 500 users. We also sponsored a local festival that Students try to solve this problem with facebook, every university has a “ ridesharing page” with menbers as low as 100 to 18 thousand 76% of Americans drive alone with only 9% who do carpool and swifte
- #5 We identified a problem/ gap in the transportation market The people who are effected most by this are people who do not have money or space for a car. More than 3 million university students in California We identified a problem/ gap in the transportation market The people who are affected most by this are people who do not have money or space for a car. More than 3 million university students in California We identified a gap in the transportation market. Drivers with extra space and riders with a need for a ride when they commute to a long distance ride between city to city. -: both rider and driver create an online profile with a university email and valid phone number -Creation of their profile: personal information and preferences The driver advertises its journey: itinerary and price The rider enters the search for their journey by browsing through a database of trips The rider chooses a journey based on their preferences and submits a request for a certain journey or ( the can now browse throught difference options from Shopping, concerts, sports, outdoors, road trip) The rider pays the total cost (debit, credit) and gets a confirmation text with a personal code Driver and rider can communicate before the ride to optimize the pick up and drop offs. The journey is on! At the destination the ride transfers the code to driver. The payment is done once the code is submitted. Both driver and rider review each other! ( They can post a picture or update of their ride, and each member get green star point based on miles traveled, Points that can then be used to redeemed for shell, starbucks, or company sponsors gift cards or coupons, hopefully WEB sponsored companies) Drivers must enter valid insurance number, company, licence number, and car information
- #7 Basic Information College email verification Social Media connection Keep up a good loyalty levels and reviewsChoose if you want to offer a merger or request a merger. Fill out information. Set the price within the range. Add special preference to filter dismatched riders/ drivers, e.g Women only, Men only and smart merge. - Connections: Platform for our users to share their carpool experience after they use our service -: both rider and driver create an online profile with a university email and valid phone number -Creation of their profile: personal information and preferences The driver advertises its journey: itinerary and price The rider enters the search for their journey by browsing through a database of trips The rider chooses a journey based on their preferences and submits a request for a certain journey or ( the can now browse throught difference options from Shopping, concerts, sports, outdoors, road trip) The rider pays the total cost (debit, credit) and gets a confirmation text with a personal code Driver and rider can communicate before the ride to optimize the pick up and drop offs. The journey is on! At the destination the ride transfers the code to driver. The payment is done once the code is submitted. Both driver and rider review each other! ( They can post a picture or update of their ride, and each member get green star point based on miles traveled, Points that can then be used to redeemed for shell, starbucks, or company sponsors gift cards or coupons, hopefully WEB sponsored companies) Drivers must enter valid insurance number, company, licence number, and car information
- #8 Price is set in specific parameters application ads + data sales How much for data sales :
- #10 We now our College students on social media : Facebook Local snapchat marketing
- #12 Campus brand ambassadors, email, social media FB & twitter, flying on campus and at the freshmen oreintation, as well as sponsoring a festival in athens that draws around 5000 attended and encouraged them to use the app to get to the event in athens. That was our first big event and our website even crashed that weekend from all of the tractions.