![]() Overall, the business is a huge success based on the philosophy of the owners and this success is more evident especially in the urban areas. Although, the owners of the company had faced many challenges and issues at each bump such as the investment needs and the assumption miscalculations but the pivoting methods and the innovative ideas of the owners and their own knowledge created huge hopes for the success of the business.Īt the most reasonable cost, a new method of transportation was provided to the customers of the company and a huge progress has been made by Chase in developing this venture. The urban style of borrowing the car was a brand new idea which gave an option to the urban people to take advantage of this opportunity. The expectations of the owners of the company were exceeded by the potential of Zipcar in many ways. Customers are provided to the access to the cars and they do not have to worry about the maintenance of the car, worry about the parking of the car or take stress regarding the paper work of the car. However, the people in such areas give significant to an occasional access to a car which does not at all substantiated the expense or the need of owning one. The real potential of the venture could be seen in the most densely populated areas where in order to commute on a daily basis, vehicles are not needed. Lastly, Danielson and Chase both have established many connections in the Boston area and it is going to allow them the opportunity to begin their own market research. Also the significant part of the target market of the company consisted of the college educated professionals and there were around tens of thousands of such professionals in Boston.įurthermore, Danielson and Chase have both lived in Boston therefore they understand all the concerns, challenges and all the experiences of the residents regarding the ownership of the vehicles. This location was chosen because of the reason that the private ownership in the city was highly expensive and due to this the owners in the city discouraged the ownerships of the cars and on the other hand the public parking was limited. Boston was chosen by the company as the pilot city and the start up city also. Danielson and Chase had the opportunity to learn about all sort of the challenges that could be faced from the companies from all the other cities. Zipcar worked on the model of car sharing and this format had been successfully proven in most of the other cities such as the Western United States and the Europe. Evaluate this potential venture and the progress that Chase has made.ĭuring the year 1999 and the year 2000, there were many hurdles that were faced by Zipcar and there are also many attributes regarding the potential venture.
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