We realise that our offering seems confusing to some interested in investing in us because what we do is so broad – we deliver adults to meetings; children to school; bread from bakeries to cafes; large scale hot food to offices; reprographics – this is entirely deliberate. Why?
Although it is more complex to be diverse (and it would be very hard for anyone else to replicate what we do, because of that complexity), there are a number of key advantages:
- We provide varied, interesting work that attracts high grade candidates who are independent actors to ride for us which makes everything simpler for us – when the access to a building isn’t obvious, they work it out. When there are closed roads, they work out a way round. This means we need less by way of management overhead – we can be leaner, more efficient.
- Spreading peaks in demand. Diversification means that we are always busy – we’re picking up from bakeries from 6am; switching to school runs after that; then deliveries to restaurants; then large hot food deliveries; then delivering flowers, businessmen; then taking children home from after-school clubs, evening hot food deliveries, taking people to the pub – we are busy all the way through the day, with very little by way of quiet periods to cover the costs of. This allows us to be cheaper than our competitors – as well as providing more satisfying and longer periods of work.
- By catering for a greater variety of jobs, we can power more change. The purpose of the company is to out-compete motor vehicles in cities for commercial driven work to allow greater changes to city streets – making them less polluted, more pleasant places. If we cater for a wider variety of work, providing viable alternatives for the reasons someone might need a motor to enter any given street – it becomes easier to close that street to motors. This then increases our speed advantage over motors further as we’ll be less held up my traffic – accelerating our growth further. A virtuous cycle!
To summarise: our vision is to provide interesting, diverse work; use the fact that this attracts high calibre individuals and peak spreading to work for us to out-compete for price, journey time and reliability; fuel the change we need in cities which then feeds back into increasing our competitive advantage.
We estimate that the value of jobs that we could comfortably do in London is of the order of £1 billion – there’s a huge amount of growth potential here before we even consider other cities, and we think we’ve got the magic formula to capture an appreciable percent of this work.
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