If you were to think of starting up a business that will bring you more profits than you ever imagined, you will never think of the taxi business because your mind’s eye sees the long hours spent sitting in the cab waiting for a ride, the cab office that you need to keep open all the days of the week, day and night, the drivers you have to employ, and maybe even buy some cars and you think that is it really worth all the hassle if you can’t make two pennies out of the it.
To enlighten you more on the topic, the taxi business today is one of the most lucrative one, thanks to on demand technology. Look at Uber for example. This taxi hailing app was launched in 2009 and today it is a billion dollar global industry. Other similar apps that are also making money from the taxi business include Ola and Lyft. Although relatively new, they are also very popular and in demand. Therefore the bottom line here is that on demand taxi apps are definitely in great demand. The taxi apps that I have just mentioned above are still growing. That goes to show how lucrative the on-demand taxi business is.
These are just the big names. There are also other smaller brands across the globes that are doing equally well, at their own local pace.
Why is the on demand taxi business seeing tremendous growth?
The taxi business has been there since time immemorial but has seen growth only after 2009 after the launch of Uber. The reason for this is the change in consumer behaviour. Consumers today want comfort along with convenience and efficiency. They like the idea of getting a service at the doorstep by just tapping a few buttons on the app. This comfort and convenience are provided by apps like Ola, Uber clone app and other similar on demand taxi apps.
Riders looking for a ride just need to tap on their smartphone and hail a cab to their doorstep at a date and time convenient for them. This service is ideal for regular commuters who don’t want to drive or waste time waiting for public transport facilities like buses and trains. The other benefit of these apps is that they follow a dual way business model whereby the car owners and registered taxi drivers get a chance to make some money too in the process.
Taxi apps like Uber clone app provide a platform that addresses real life problems faced by two sets of users – the commuters and the taxi drivers. That is the main reason why these apps are making more and more money, by day and night, everyday everywhere.
Are you ready to develop your own app?
Does this sound something you might be interested in but not sure if it will succeed because of the numerous similar apps out there? Agreed there are many of them out there, which means more competition for you. But look at the other side of the coin.
More competition means that your niche is validated, which means that you already know what the users want, what their problems are and you just have to provide a solution to their problems using your app. For examples what is stopping you from developing an app that only deals with female clientele? How many cab firms actually have women drivers on their payroll giving a “ladies only” service? If you were to develop such an app you would have ladies knocking down your doors wanting to drive for you and/or drive in your cabs because you are providing an opportunity for these vulnerable women to travel safely and comfortably at any time of the day or night without feeling threatened in any way.
This is just an example and you can come up with a super duper idea for your uber clone app and you will be able to cash in even with the stiff competition in the business. All you need to do is think outside the box and look for problems that need a smart, feasible and interesting taxi solution. You can bet that your will hit the jackpot.
Get the balls rolling for this once in the life opportunity to start your own on demand taxi business. Believe me; once you get rolling you will never look back.
Lata Motvani, works as Digital influencer at V3cube.com. She is used to write on various technology, mobile apps, clones, on demand service apps, current affairs, latest trends and so on.