Start A Ride-Hailing Business with The On-Demand Taxi-Booking Service App
In recent years, the on-demand taxi booking industry is at a peak, and the demand for such apps have been surging tremendously. In this highly competitive industry, having a mobile app for a business becomes essential. The massive success of Uber makes the entrepreneurs start a business as the business model of the taxi booking app is profitable.
As already mentioned, the taxi booking apps have grown considerably. According to Statista, the net worth of the online ride-hailing segment is $183,677 and it will reach $318, 765 by 2023. It is evident that there is a 14.8% growth. Moreover, the net value of Uber is $72 billion. Meanwhile, its competitors like Lyft, Grab, and Gett are giving tough competition.
Do you intend on entering into the online ride-hailing segment? Read on this blog. It will cover how to build an on-demand taxi booking app like Uber and how to earn from it using various revenue models.
5 Important Aspects to Consider for Taxi Booking App Development
First, let’s start with focusing on some important aspects before diving into the app development process.
Do groundwork for your business
You have to know your target audiences whom you were going to focus on. Also, you have to consider the target area where you plan to launch the app. Say, for instance, if you launch the app in a small city, there is less chance to get a ride as the audience you target is less. To cover the wider audiences, consider launching the app across numerous cities.
Analyse your competitor’s strength
At a regular interval, you should keep an eye on your competitors right from the beginning. Like, you have to know what they are offering their customers and which business strategy they are implementing. By doing this, you will get new ideas for getting new customers and retaining the existing customers upon app deployment.
Design an eye-catchy interface
The Uber app’s UI/UX is user-friendly and appealing. Therefore, consider adding extra design elements for the appealing interface. Also, having a unique design, animation, icons, and menu in the app helps to stand apart from the competition. Indeed, it isn’t easy to mark your place in the online ride-hailing industry without app uniqueness.
Have a proper collection of cars
Most importantly, it would be best if you had a vast collection of cars of different brands. So, the customers can choose from them depending on their convenience. To scale your business, providing quality service is necessary. Therefore, you should have professional drivers who must be polite to customers.
Offer various payment options for seamless transactions
Make sure the taxi booking app you launch must be secure and easy with the integration of multiple payment modes like e-Wallet, Internet Banking, and Debit/credit card. This feature is helpful for customers as they can use any payment options for the service they avail. Apart from the digital payment, customers can choose the Cash-On-Delivery.
How to Create A Taxi-Booking App Like Uber In Simple Steps?
Find your target niche
You should have your unique value proposition and know your target niche. This helps to frame your business plan effectively.
Conduct market research
As mentioned earlier, groundwork is essential for a business. You have to gather all the relevant information, such as knowing your competitors, performing in-depth market research, and so on.
Decide which features to incorporate
Based on your business plan, consider choosing a suitable feature for your app. Also, choose the technology stack for building the app. If you are not sure about the technical specifications, it is better to approach a mobile app development company.
App design and development
This stage is the crucial one. At first, you have to come up with the wireframe of the app. Once done, go ahead with the development process.
Before app deployment, the app has to undergo various stages of quality testing to ensure that it is free from technical glitches, errors, and bugs.
Upon completing all the stages, the app is ready for launch.
How Does A Taxi Booking App Like Uber Make Money?
There are various sources of income from the taxi booking app. While, Uber has the following two revenue models for making revenue.
The app charges nearly 20-25% (for each ride) as a commission fee from the drivers. It is the major source of income for Uber. You can set any range of commission percentages for your app.
Uber is the top contender for promotional collaboration. Most of the collaborations are with popular brands like Spotify. This revenue stream is effective once the app reaches a broader audience base. You can consider other revenue streams to boost your income. Some of them are Surge pricing in peak hours, provide outstation package, provide monthly passes, Waiting/delay charges, and Cancellation fees.
Significant Features That You Can Consider Incorporating in Your Taxi Booking App
- You can gain customer trust by incorporating the most significant features in your app. A few of them are as follows.
- The Search a ride feature will allow the customers to enter the pick-up and destination location. And, they do not need to avail of the service even after confirming the order using the Cancel ride feature.
- One exciting feature is Travel schedule. Using this, the customers can schedule their service as per their convenience.
- The Live tracking feature will let the customers check the driver’s real-time location upon confirming the ride request.
- Using the Booking history feature, drivers can check the previous history of the services they have completed. It also includes cancelled and rejected taxi bookings.
- The Payment feature in the driver app facilitates the drivers to check their payment details on a daily, weekly, and monthly basis.
- Once the customers make a ride request, the drivers can Accept or Decline the request. If the driver accepts the request, the app will show the ride details. On the other hand, if the driver does not accept the request, it will be passed to other nearby drivers.
- Using the In-app messaging feature, the customers can communicate with the drivers in case of any queries.
A taxi booking app is a helpful platform for customers who don’t have their own vehicle. It is convenient for them to book a ride with just a few taps. There is no doubt that almost everyone prefers such apps. Therefore, starting a business by making a taxi booking app like Uber is a great choice. I hope this blog will give clear insights about starting a ride-hailing business. Thanks for reading.