The Taxi-hailing business market is reaching new heights with the launch of more taxi booking apps. The great demand for these taxi booking apps came from the users as they no longer wanted to spend a lot of time booking their rides manually. The success of these taxi booking apps encouraged many individuals to venture into this industry. Adopting a perfect business model with unique strategies will help you grow your business in many different ways.
Before starting a business, entrepreneurs need to adopt a business model for the long run of a business. The Uber clone script is one of the best business models for entrepreneurs to initiate their business. Uber, the pioneer in taxi booking apps, started its venture to provide budget-friendly rides with user experience. This blog is for entrepreneurs who are interested in commencing their taxi-hailing business in the UK. Let us examine the features and ways to launch Taxi Business in UK.
Scope for taxi booking apps in the UK
Before the arrival of Uber, the ride-hailing market of the UK was predominantly occupied by black cabs. However, Uber has taken over the UK market entirely through its services. London became a competitive market with the arrival of other taxi-hailing apps like OLA, Bolt, and Free now. Uber secures a first place among the other taxi booking apps.
On analyzing the UK’s total taxi booking app market, we can understand that during 2020, nearly 17.8 billion people have used taxi booking apps to book their rides, and the taxi booking apps earned a revenue of 1.3 billion GBP. Uber is the leading taxi booking service in the UK, and it has also acquired Autocab earlier this year and became a leader in the taxi booking app market.
Strategies for starting a Uber clone app in the UK market
Conduct market research
There are many taxi booking apps worldwide. So, it is essential to decide on what way you will stand unique from the competition. The first step towards that is to analyze the market and its scope. Study about the leading apps and their strategies to know where you fall short. By analyzing the market condition, you will know the demands of the users. This way, you will also know your competitors and their market standards.
Prepare a business plan
Sketching a business plan is the first step of any business plan, irrespective of its size and nature. Decide on the objectives and goals of your business. Prepare a plan for the long run because you may improve your business to a new extent in the future, and at that time, you cannot change a new plan. So, stick to a business plan that can take you forward to a great extent.
The next step is to study the different types of taxi services and zero in on a perfect model to suit your business. There are many types of taxi services like taxi-booking apps, carpooling apps, and P2P ride-sharing. The market research you did at the initial step will help you choose a suitable model for your business.
Select a niche taxi booking service
As mentioned above, there are many types of taxi services available in the market. And each segment has its user base. Now it is upto you to select a perfect model according to the budget. Identify the niche business model and opt for that. Be it an individual or aggregator model or whatever; the prime goal is to find an ideal business model.
Choose the apt cab models for your business.
After choosing a niche business model, the next step is to buy cabs for the business. Remember that users will prefer any taxi for their convenience. Say, for example, in an Indigo Swift, not more than four passengers can travel. If there are 5 to 6 passengers for a ride, you should have options for the passengers to browse through. So it is ideal for you to buy cabs of different ranges for the riders.
Secure your business with an insurance
Generally, for businesses involving buses and taxis, it is essential to have insurance. For a taxi booking app business, taxis are the most significant assets. So, it is vital to protect them, and in case of any challenging situations, you can claim insurance for your taxis. Along with the taxis, it will be better if you can get insurance for your drivers also.
Find ways to monetize your app.
Develop a monetization strategy for your app. Generally, a taxi booking app will work on a commission basis. So work on earning commissions from both the users and drivers for using your app to schedule rides. Apart from this, you can also charge additional charges for booking in advance and cancellation charges from the users and the drivers.
Hire a good team of developers
This is the most crucial part of developing an app. Entrepreneurs should hire the best developers to build a viable app with cutting-edge technology. Developing an app from the ground up is tedious and time-consuming. Instead, the entrepreneurs can go with a ready-to-launch Uber clone app to launch their app in a short period, with unique features. However, there are some essential features you must include to make it an ideal taxi booking app. Listed below are some.
The must-have features of an Uber clone app.
Real-time tracking – The GPS tracking feature of the app will help you build a strong bond with the users by ensuring transparency. The users can track their rides and contact their drivers in real-time.
Fare calculator – A fare calculator provides the cost details about the ride. The fare calculator should analyze the distance, traffic commotion, and other external factors before sending the fares to the users.
Time estimation – The app should estimate the time taken to reach the destination through tracking the map and analyzing the route pattern. This will help the users to have a time frame for the arrival of their taxi.
Route optimizer – The app should analyze the routes and suggest the easiest and safe route for the drivers to complete their rides.
Launching a taxi booking app does not need any complex work-outs. A suitable business model with a proper monetization strategy is mandatory to attain success. Aspiring entrepreneurs can follow these steps to launch their Uber clone app in the UK.