Mobile apps have taken the ride-hailing business to the next level. This paves the way for business enhancement and offers the seamless user experience to book a taxi compared to the traditional taxi service. Uber, Ola, and Lyft are the top players in the ride-hailing industry. These three taxi booking apps operate on a unique business model aiming to offer efficient and affordable services to the users.
Since the launch of Uber, it has gained massive growth and it is one of the fastest-growing service providers worldwide now. If you are interested in developing a taxi app like Uber, you should have a clear picture of the business model.
Look at the paramount statistics and interesting facts about Uber
First, let us see the stats and facts about Uber, as it is the big player in the ride-hailing industry.
Travis Kalanick and Garrett Camp founded Uber in the year 2009. In 2010, the company launched the taxi booking app. Yes, it has been in operation for more than 10 years. And it is operated in nearly 632 cities across 78 countries.
According to CrunchBase, Uber has total funding of $242 billion. Moreover, it is valued at $120 billion. Notably, there are more than 75 million active users worldwide. In the United States, Uber is completing 40 million rides per month.
The revenue generation of Uber in 2020 was $11.1 billion. Due to the lockdown, there was a 21% decrease in the revenue, which was compensated by UberEats. At the end of the year 2020, 93 million people have used the taxi booking service via the Uber app. As the government has relaxed the lockdown, Uber has taken over the opportunity and reached more customers by integrating Covid-19 safety features in the app.
In 2021, it manages to have 15 million rides per day and has more than 75 million active users. It is projected that the active users will rise to nearly 539.49 million by the end of the year 2021.
Some of the basic features of the taxi booking apps
A taxi booking app has three panels with different features for customers, drivers, and admin. A list of the basic features in these panels is as follows.
- Estimated time
- Scheduled booking
- Vehicle options
- Automated e-receipts
- Route selection
- GPS tracking system
- Automatic fare calculation
- Vehicle and trip management
- Billing & invoicing
- Revenue management
4 vital features you should opt for while developing the taxi booking app.
The app sends a message to the customers via push notifications. It includes nearby available cabs and how the customers can connect with a cab. Upon confirming the ride request, the app has to notify the driver details such as name, contact information, and vehicle number to the customers.
This feature is beneficial for both the customers and drivers. Customers can track the driver’s location in real-time and know the estimated time of arrival. Then, the drivers can use the best-optimized route to reach the customers’ pick-up location shortly. Also, it helps to reach the destination on time without any delay as the map shows the shortest destination that is devoid of traffic.
Including the payment feature allows the customers to make secure payments seamlessly. In-app payments include credit cards, debit cards, e-wallets, and UPI. Also, customers can opt for cash payment. Moreover, customers preferring digital payments can avail themselves of gift cards and promo codes.
Rating and reviews
Customer feedback helps you to provide the best services. Make sure the drivers have a sense of responsibility with good behavior. It is an essential thing you have to concentrate on as it impacts your taxi business.
Types of ride options offered by Uber
Each customer has different needs. Like, some customers have a limited budget while others have a bigger budget for a trip. Considering the whole customer base is mandatory as it paves the way to offer effective services with various ride options. This strategy has helped Uber to thrive in different places. A few of the ride options offered by Uber are given below.
It is the common ride option. Uber provides private and express rides and is preferred mainly by the people who have a bigger plan. It includes only luxurious cars.
This ride option allows the customers to share a ride and thereby cuts the ride cost. Once the customers install and register with the app, they can opt for the UberPOOL option and specify the destination. Then, the app will match your vehicle with other customers who have headed in the same direction. The app shows the estimated arrival time and destination time. Notably, the estimated destination time might vary as there may be extra pickups and drop-offs along the way.
This ride option is for the customers who have a limited budget for a ride in which it can carry up to 4 riders. It does not have sufficient space to carry too much luggage.
Consider these key takeaways from successful taxi business companies while developing an Uber clone app
While developing a taxi booking app like Uber, it would be better to consider takeaways from the pioneer & successful taxi service providers like Uber, Ola, and Lyft. Below are a few of the significant takeaways to be considered.
Simple business model
The success of the taxi app relies on its simpler business model. Therefore, if you are thinking of developing apps similar to Uber, make the process easier and more efficient. Moreover, having a clear vision helps to take you in the long run. Uber had internal control tools to run the business in accordance with its vision. With this, they can also monitor the customers’ feedback. Upon analyzing this, they bring changes accordingly.
Solve customers’ queries
Uber has solved the customers’ queries by offering a classy ride experience with a push of a button in Francisco. You can even consider providing affordable services to the customers with an easy booking process.
Less infrastructural requirements
The growth of Uber, Ola, and Lyft is that they have managed to cut the overhead costs with simple infrastructure. It helps to grow faster as they can easily adapt to the ever-changing business environment. Say, for instance, Uber hires non-commercial drivers to reduce operational costs.
Estimation of cost for developing a taxi app like Uber
Numerous factors determine the cost of the Uber clone app development. Mainly it relies on the features and functionality of the taxi app. The time taken to incorporate each feature differs, and it is also considered in the cost structure. Other predominant factors that determine the taxi app development are as follows.
The features make the app more convenient for users to book a ride service with ease. Incorporating more number of features elevates the app development cost. When you are planning on a limited budget, consider only the basic features, and later, you can add new & innovative features.
The two major platforms you can consider are Android and iOS. Typically, the cost will be more to develop a taxi app on iOS compared to Android.
Location of the app developer team
The taxi app development cost will be high in the regions around the United States and less in the regions around India and Europe. Moreover, the cost depends on the experience and skills of the app developers. According to Statista, the average rate in North America is $60-250 per hour, in the United Kingdom it is $60 – 150 hour, in Europe it is $20 – 120 per hour, and in India it is $10 – 80 per hour.
Make the UI/UX design be simple and fascinating to the users. It takes nearly 200 hours to complete the design.
In a nutshell,
If you are ready to develop apps similar to Uber, consider a simple and scalable business model just like successful taxi service providers such as Uber, Ola, and Lyft. Also, you have to consider the customers’ needs and preferences. This only paves a successful way to run your taxi business in the long run.