Few years ago, maintaining a successful transportation company or a Cab service was a daunting task that required huge manpower & man-management skills.
Over that maintaining the allocation of right vehicle to right customer was a challenge. But thanks to technology, Taxi booking app companies are now worth billions & are completing millions of rides & transactions daily.
Have a look at some amazing stats from UBER
1: Uber has completed more than 2 BILLIONS ride.
2: Uber is operating in more 75 countries than 450 Cities across the Globe.
3: Daily Uber trips : 1 million rides(average).
4: Uber has more than 75% market share in USA market.
5: Uber gross booking net $20 billion in 2016.
6: Uber net revenue was $6.5 billion in 2016.
The important thing to notice here is the acceptability of customers to Taxi App companies,
The meteoric rise indicates that there is a huge demand of these type of services across the world, irrespective of market & with more Smartphone penetration, the demand is bound to rise.
If you are looking to your dream Startup idea or already have a Cab providing company than this is the time to take the next step & Start your own Taxi App Company. But before anything, keep these points check:
Extensive Analysis & Research:
There is a famous quote: “if you are failing to plan than you are planning to fail”. But you can plan without information & data. So it is highly recommended that one must do an in-depth research about your target market & customers.
Famous American businessman Victor Kiam has rightly said that “In business, the competition will bite you if you keep running, if you stand still, they will swallow you.”
Although the Taxi App is a new business model with few competitors but there is also a huge competition from the tradition transport companies & services, to succeed, you have to keep an eye on both of them & finalize your strategy accordingly.
Focus on Customers :
You cannot build business without customers! Try to find out the problems faced by customers & solution they are expecting than make your core competency around these points.
Since this business model is based completely on Technology, it is better to be well equipped with your Technical Structure. First thing is to decide whether you are going for in-house development or outsource the work. While outsourcing, research well about the company & its portfolio.
How should your Taxi Booking App look like ?
The chances of establishing a successful taxi booking app depends greatly on its UI friendliness and competitive features. The app should work smooth, efficient and should be able to undertake dynamic taxi booking and dispatch system effectively.
Some important features that must be included are rapid booking and cancellation, live tracking, vehicle selection, TBA time, safe payment options. App should work cross-platform. Multi-currency & multi-language features could help in finding greater reach in market & increase in customers.
Safe & Secure Payment options:
With increasing technology penetration in daily activities, monetary transactions are highly adopting the digital gateways, e-wallets, online transactions are becoming more famous & efficient for users. That’s why the app should include at least all the topmost digital payment gateways to transaction.
Safety of Travelers:
It is important to ensure that customers using your services & app should feel safe. Provide information such as driver details, vehicle number & safety features like SOS option, Vehicle Tracking & Emergency contact. More the safety features, more will be customers using the service.
Appreciate the customers with occasional discounts, cash back offers, free rides, etc. to keep them involved with your services. Make sure that your app has facility to integrate these options.
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