CYKIQ is a NUST, Islamabad, based startup. It aims to provide reliable and cheap short distance hiring services to the inhabitants of NUST. After the business itself is successful and profitable in NUST, we aim to launch it to other big universities of Pakistan as well. CYKIQ is a startup which will provide automated bicycle hiring services. As part of our objective, the whole procedure from hiring bicycle from the station to returning it to another station will be automated. Automation includes signing in to system, bike selection by computer, unlocking operation, release mechanism and re-locking operation when the bike is returned to particular station. This whole system is one of a kind in South Asia. The nearest station exists in China so the whole concept is alien to general Pakistani population with the majority having never heard of it.
We will provide this service for very cheap rates. We plan to build our prototype and launch it by January 2015. The launch itself will gather much needed publicity and promotion. The beta stage includes 2 stations (one in C1 and other in Razi 1 hostel) which will each consists of 3 bikes and 5 stands. We will only 15 pre chosen subscription during that period which will most probably include our close friends. We aim to do this so that we can gather much needed data about its usage, pros and cons. This would enable us to solve common problems and get pre market launch testing. We aim to get atleast 150 subscription or 5% market penetration, which is the least amount of subscription expected, before the end of June 2015. We will add 10 stations, each consisting of 10 stands and 6 bicycles, on various locations in NUST. This will give us a total of 50 bicycles around NUST. We plan to give unlimited 30 minutes ride per customer with 4 month subscription for Rs. 2000. Within 2 years operation we aim to get 500 sustained subscriptions or around 15 percent of market share. More of this is discussed in marketing and financing section. After 2 years of operation we plan to expand to other universities of Pakistan. In this business plan we would be focusing on operations in NUST.
Fashion/Entertainment, Urban Development/Real State, Reservation/Booking/Ticketing