Your taxi business can reach new heights, here is the secret

Owning a car may look fancy, but it can prove to be an expensive affair. Apart from mammoth purchasing costs, you have to take the cost of fuel, insurance, maintenance, registration and even infringement fines into consideration. Jammed streets, unavailability of parking slots are other reasons to steer away from purchasing a private vehicle. No doubt millennials prefer taking a cab over buying a car. 

The International Journal of Scientific Development and Research in 2016 projected that the cab aggregation industry has an immense potential to grow at a 30% rate per month. The time has proven it right. According to Statista’s projections, the market volume of the ride-hailing industry will reach $386,274 million by 2026 with a CAGR of 5.30%. For anyone with an entrepreneurial mindset, this is an unmissable opportunity. 

Following the pathbreaking success of leading cab aggregator Uber, many entrepreneurs and startups have dived into this field. Let’s see how you can strengthen your position and get an edge over your competitors in this field. For that, we must decode Uber’s secret to success. 

What is so special about Uber? 

The ride-sharing app: 

Uber turned the tide in 2009 by launching a ride-sharing app that worked well on Google Android, Apple iOS and also on the web. It enabled riders to connect with nearby Uber drivers that wished to provide rides in their private vehicle. It was cheaper and faster than conventional taxis. 

Uber’s app has been its greatest asset to date. That is why, the first question anyone willing to enter the cab aggregation business asks is- how to make an app like Uber? Getting a powerful Uber clone app developed is the first step towards long-lasting success. 

Safety of the riders:

Uber goes the extra mile to ensure the safety of the riders. In the past, Uber has taken strict disciplinary actions against the drivers compromising with the rider’s safety. They check the criminal background and necessary documents of the driver before employing them.  

Anytime, anywhere:

Uber is available even late at night. You don’t have to wait on the street. You can check your driver’s location and distance in real-time. Investopedia reports that Uber is very popular with partygoers. To deal with intoxicated or rowdy riders, drivers also get a panic button in the app to contact the police in case of an emergency. 

Saves time and money: 

Just imagine, you can watch an episode of your favourite series while commuting to your workplace if you are not driving. As mentioned earlier, cabs are comparatively cheaper than owning a car. In addition to that, driving a vehicle is time-consuming and stressful. Uber has addressed these issues well.

What sets the Uber app apart from the competitors? 

Understanding the diverse needs of riders, Uber has developed several features that make the commuting experience so comfortable and carefree. When you are searching for Uber clone app solutions, you should keep the below-mentioned features of the Uber app in mind. 

Provides real-time updates: 

You just have to tap the ‘send status’ button, and your live location status will be shared with your friends and family. If they are waiting for you at a movie theatre, they will know how much time you will take to reach. (Drawback: Reaching in five minutes excuse won’t work.) The cherry on the cake, they will receive complete details of your trip like your driver’s name, photo, vehicle details etc. It makes even sending kids to school through Uber safe. 

You can split fares: 

If you are a person who doesn’t mind sharing the vehicle with others, you can just select the option “Split Fare” and select other riders from your contact list. Sounds much like carpooling? You can make commuting fun by spending time with your friends or colleagues on the drive. What’s more, you can save a lot of money by splitting the fare. 

Multiple riders can plan their drop-off points:

It is very much possible that the riders of the same cab are heading towards different destinations. In such cases, the Uber app provides an option for multiple drop-offs. You just have to select the ‘add a stop’ button and add up to two extra stops. The details then are communicated to the driver. The destinations can be changed or deleted as per requirement. 

You can book a cab for someone else:

Want to surprise a lonely friend by taking them out? Need to book a cab for your mother’s shopping trip? Uber has got this sorted. If you are booking a ride for someone else, you can choose their name from the contact list. In turn, they will receive an SMS containing all the details like driver’s name, contact, vehicle number etc. The app also provides an option to pay in advance or cash. 

You can schedule rides: 

What if you have to catch a flight at 5 am? You can be assured by scheduling your ride well in advance. Uber provides an option to schedule rides up to 30 days in advance. This feature is specifically popular with frequent flyers and executives having meetings at multiple places throughout the day. What’s more, the app keeps the riders informed about the trip by sending notifications in advance. You can link your mobile calendar with the Uber app. The address added to your calendar will be fetched by Uber. That’s quite hassle-free, isn’t it?

Why do you need a robust app? 

Statista’s survey suggests that with a 35% market share each, Ola and Uber are the market leaders in India. Easycabs, Meru and Jugnoo are far behind with a 5% market share each. The research by Statista also suggests that 27% of the total revenue in the ride-hailing and taxi segment will be generated through online sales in the next five years.

Both these facts, when put together present a clear picture- going digital is the only solution to survive the competition. However strong your business strategy may be, if you do not have a strong application to support it, there are thin chances of getting ahead of the competitors. That’s why right from the beginning, your focus should be on developing an application like Uber. 

How can you earn through the app? 

Robust app development demands significant investment initially. You might have to invest anywhere between $4000 to $25,000 for Uber clone app solutions as per your requirement. However, you can quickly generate a return on investments by determining a lucrative revenue model. 

– Define commissions on every successful ride. 

– Make way for in-app advertisements. 

– Charge trip cancellation fees. 

– Define criteria for the fare. i.e cost per minute, cost per mile, fare based on the type of vehicle etc. 

Summing Up: 

Many startups from the cab aggregation industry are on their way to becoming unicorn startups. This suggests that there is immense untapped potential in the field. The market is far from saturation till now. With the increasing penetration of the internet and inclination towards digital life, those with a strong digital presence and powerful apps will rule the market in the coming times. 

Guest article written by: Chris is the Writer and Journalist at aPurple, a ready made app development company. He loves to deep dive into the ins and outs of the technologies. His aim is to share the knowledge by writing on the technical about Business, eCommerce, Startup, Enterprise IoT, AR, VR, and other Smart Technologies. To describe him in one word, he is a writer focused on Tomorrow’s World.

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