Entrrepreneurship Paper

Name of the venture that I’m proposing is called OMW, and it’s a bicycle sharing company using mobile app. The venture’s biggest market segment will be college students because they are the ones most in need. Parking on campus could be a clutter, even if you get resident parking permit it would still take you 10 minutes to get to a classroom from parking lot. Not to mention commuter permits, you must sometimes take shuttles and additional walking. Since the business offer bicycle rental without the need of returning them to stations or bicycle racks, this expands our market segment to a greater popularity. City workers, people who are looking for their daily workout could all be well-fitted into the customer category. Our app provides distant tracking to calculate fare fees and calories calculating for exercisers.

Tourists in larger cities will be the next target, and during spring and fall season is going to be our peak season. We could provide some bicycles with larger baskets for tourists. Traffic on holiday seasons in cities like New York City could be totally blocked, by riding bicycles customers could avoid the chaos and save more time to spend on their visit. The app would also offer coupons for returning customers.

The business has a prosperous growth potential because there is no other business standing out from the category. Plus, government-owned bike rental companies cannot compete with our business because their service limit customers to return bicycle to their stations. This business could change the future of bicycle rental.