You did a great job of explaining the Shoffr's value proposition and how it plans to scale.
I have a few thoughts. First, I agree that getting external capital before scale can be risky. However, I think Shoffr is in a good position to scale itself before securing a debt financing, the bootstrapped scale will help get a better deal later, similar to what BluSmart did.
Second, I think Shoffr should focus on expanding to more cities targeting the premium routes before scaling to premium-mass use cases. This will help the company build its reputation and generate brand awareness. In the meantime, Shoffr should build loyal user bases by opening up the service to other ride segments, such as intracity long-hour use cases and rides for frequent users. This will help the company generate additional revenue and understand the demand better.
The business narrative for this will be Higher LTV/CAC from existing users and improvement in NPS , Brand recognition and Word of mouth marketing from existing userbase. Shroffr should ideally enable the new uses to existing than to new customers.
Hi Utkarsh,
You did a great job of explaining the Shoffr's value proposition and how it plans to scale.
I have a few thoughts. First, I agree that getting external capital before scale can be risky. However, I think Shoffr is in a good position to scale itself before securing a debt financing, the bootstrapped scale will help get a better deal later, similar to what BluSmart did.
Second, I think Shoffr should focus on expanding to more cities targeting the premium routes before scaling to premium-mass use cases. This will help the company build its reputation and generate brand awareness. In the meantime, Shoffr should build loyal user bases by opening up the service to other ride segments, such as intracity long-hour use cases and rides for frequent users. This will help the company generate additional revenue and understand the demand better.
Thanks
Interesting that you would say that! Shoffr recently launched intra-city hourly rentals.
The business narrative for this will be Higher LTV/CAC from existing users and improvement in NPS , Brand recognition and Word of mouth marketing from existing userbase. Shroffr should ideally enable the new uses to existing than to new customers.