Case Study
Taxi Business
Case Study
Taxi Business
Climb Business helped us develop and implement a strategic plan and a series of practical initiatives.
Bending the road and driving off stronger
Business Viability assessment/ Strategic planning and implementation of Business Turnaround
The Situation
The company was threatened due to the emergence of Uber and the ensuing impact on taxi patronage. The Directors were unable to see a pathway forward in the face of this industry revolution.
Climb Business worked with the Board and senior management to review the business and its risk areas. We developed a strategic plan and followed through practical initiatives needed to achieve the goals under the plan.
The Solution
- Plunged in depth to understand the business and its key operational drivers.
- Drew a clear understanding of the profitability position, asset and liability position of the business.
- Identified risk areas in debtors’ ledger, as well as cash flow and developed mitigation tactics.
- Assessed the asset utilisation matrix and made recommendations on improvement.
- Assessed the current business model, alternative revenue streams and marketing opportunities.
- Assessed the governance structure and recapitalisation opportunities.
The Success
- Forged an agreed-on pathway forward with a clear and practical strategic plan with initiatives to implement.
- Achieved an informed Board and senior management.
- Communicated the strategic plan to the shareholders and wider stakeholder group.
- Managed and delivered initiatives including diversified revenue streams and right sized cost base.
- Positioned the company for mergers and acquisitions opportunity.
