Let Us Explore Various Opportunities In The Ride-Hailing Apps Market:
As we can see around that the market for an on-demand taxi is increasing significantly and uber stays a pioneer in the industry. As well as being more convenient than hailing a traditional cab, it also offers service at an affordable price.
• In total, 5 billion rides have been taken on Uber.
• Uber operates in 76 countries and 450 cities worldwide.
• Uber has vowed to get at least 1M female drivers on the app globally by 2020.
• Uber and other taxi booking apps gained a large market share of over 40% in 2017.
• By 2024, the global taxi industry is projected to see a growth rate of 9.22%.
These stats indicate that there is a huge potential in the online taxi business market for new entrants.
When maintaining a business, you are tested by a few considerations. Remaining inspired and winning all the difficulties is probably the greatest objective, something that is never recorded in any of your vision or statements of purpose.
For a business to remain propelled and prevail upon the clients, it is significant that it stays refreshed with the most recent patterns, and oblige for the vast majority of them. The taxi booking software portion is one such specialty that calls you to be side by side with the most recent patterns and continue refreshing your application with new highlights.
The taxi booking software, before the application or business idea was presented, was complete chaos. It was a spot that left the clients disappointed, regardless of whether it was practicality, the driver's conduct, or the charges. Uber took up this challenge very nicely and spearheaded with its taxi app solution idea. This drove numerous others to think about the uncapped section, and eventually today you see a serious and exceptionally characterized Uber like app. Regardless of whether it is business or for the corporates, the taxi booking administrations have certainly increased their contribution. Keeping in mind, the current situation of the market, we are here with the complete guide about how to start a taxi booking business and how one can expand their model in the market:
Difference Between Early Models And New Approached Business Models:
Earlier, people used to step onto the road and hail their hands in front of the taxi coming in their way. By watching this, drivers stop themselves and take them to their desired location but nowadays, the scenario is completely different. Individuals can easily book a taxi merely by sitting at the comfort of their houses. In addition, they can easily track their allotted driver and get an estimated time of his arrival.
This uber like app development is prevalent these days and many entrepreneurs are entering the market with their unique taxi app solution including some advanced features to make the uber like app look more attractive.
Some Essential Features Of A Uber Business Model:
Geolocation: When a driver accepts the ride, he gets to know the exact location of the customer with the help of the geolocation feature. Sometimes, new drivers are not aware of the locations nearby which are the main reasons for building a geolocation feature in the application. Geolocation not only helps the driver in finding the customer’s location but all the other areas where he has to drop the customer and many more.
Multiple Payment Options: Riders should be given multiple payment options so that it becomes easy for them to pay easily when the ride is completed. One can add inbuilt app wallets, net-banking, debit/ credit card payments, and various other varieties of options.
Push Notifications: It is an important feature for both customer and the driver. Customers should be notified when the driver is reaching his location and drivers should be notified about the ride booked or any new offers or discounts from the admin’s side. Notifications help everybody involved in the taxi business in engaging with it.
Ride Scheduling: This option is not there in many ride-hailing applications but it should be added to the uber like app development as it gives convenience to the customers. Through this, they can schedule the ride anytime so that you don’t need to rush at the time you need to go. Scheduling helps in managing the time accordingly. A notification will also be received when the driver is nearby.
To Stay Ahead Of The Competition, One Can Use The Below-Mentioned Features To Build Uber Like App:
Customer App: This is the passenger application where he can easily book the ride, track the driver, and pay the amount through an in-built payment option. Let us see what all features are included in the customer app:
• Social media login
• Easy booking
• Tracking the driver
• Cost estimation
• In-app messaging and calling
• SOS and emergency button
• Multiple payment options
• Geo-location
• Push notifications
Along with these features, one can add some advanced features to build uber like app to make it even more attractive. To use the taxi services to its full potential, the owner should add as many features as he can and that too using the latest technology because nowadays, every application is made with the modern tools and programs giving utmost convenience to the customers.
For Driver Application:
• Documents uploading
• Manage profile
• Accept or reject incoming requests
• Push notifications
• Update availability status
• Real-time tracking of the driver
• Overall earnings
• Invoice details
• Geo-location
For Admin:
• Schedule requests
• Manage vehicles and drivers
• Reports and analytics
• Manage ratings and reviews
• Discounts and promo codes
• Take necessary actions
• Send notifications in bulk
• Manage all feed backs
If you have a less budget for uber like app development, you can add all the basic features with some of the advanced ones but if the amount is not an issue, one should add as many advanced features as he can to make it more attractive and easy-to-use. Some of the advanced features you can add in your application are listed below:
• Discounts and free rides
• Early bird discounts
• Booking a ride for others
• Paid wait time for drivers
• Dynamic pricing (surge pricing)
• Voice-driven instructions
• In-app chat or call
• In-app tip feature
• Multi-language support
• Gamification
• Insurance coverage
Also Read:Top Reasons To Invest In Taxi App Development For Your Taxi Business
Cost Of Developing A Taxi-Booking App:
Overall, uber like app development cost range lies between $2k to $25k based upon various factors like location of the company, number of developers involved, number of hours worked, features involved, the app is built from scratch or customized, no. of platforms built, etc. according to these factors, the overall cost is decided. In some places like China and India, the application can be built at a very affordable price but when you are taking the same application to California, the USA, it will be costlier. Similarly, other factors are equally responsible.
Before developing an app, the owner should be very careful with the list of features and tools. He can make a complete list of features so that it would be easier for developers to follow a certain pattern. If you have the knowledge of technology and programming languages, you can discuss it with the program manager of a particular company otherwise, they will do that for you.
Revenue Models:
The technical part of building an application is over here. Let us discuss the revenue models of uber like app. Generally, there are two different revenue models including commissions from users and various promotions.
Commissions: Drivers usually have to give a certain amount of money to the owners which can be a flat ride rate or per ride. Passengers also pay extra fees for cancelling the ride or they request some additional services like animal transportation.
Ads And Promotions: This is the commonly used method by various business models. One can place the advertisement model in certain big or small companies to increase the reach and attract more people towards your business. It is known as the simplest way of advertising a business. Uber also collaborates with big brands to increase their recognition.
Conclusion:
The list of all the basic and advanced features, revenue models, and comparison between the traditional and modern business model is enough for a person to start a business. Now, you just need a full proof plan and marketing strategies to implement in the market. Once you have the company to develop your application and certain strategies, you are good to go. No business can draw in profits in the initial stages of operation but in the long run, it is worth investing as in the coming years, people would like to travel safely and privately so, it would be beneficial for the entrepreneurs who have already established taxi booking software and a business.
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