With the world getting better day by day with new technologies and innovations, are you the one who got stranded in the same place? That is, more than half of the business got hands-on digitally. With the help of their impeccable business ideas, they analyse their business growth from the initial phase until their online presence. One such highly reputed business venture is the online taxi booking business.
Are you wondering how anyone could invest in this online taxi business amidst this pandemic?
Find your way in the middle of struggles to find what life awaits to unfold things for you!
So, let me get straight into this topic. Though worldly conditions may vary from time to time, you should be on track to find opportunities. Online taxi booking businesses are one such example.
STATISTICAL ANALYSIS OF ONLINE TAXI BOOKING BUSINESS
Around 90 million users use online taxi booking apps for their daily rides, and over 3 million users benefit from them as drivers. The online taxi booking business serves as the right choice for many.
BRIEF DESCRIPTION OF ONLINE TAXI BOOKING BUSINESS
The main motive of this business is to meet the customer’s needs right at their doorstep. Whenever a customer demands a cab or taxi to hail, ease their hailing process with your business's emergence online. When you have an online taxi booking app, your driver gets notified of the customer and their pickup location. With open-ended services, the customer can view the invoice bill and the booking details when they reach the drop-off location.
STAKEHOLDERS INVOLVED IN THE ONLINE TAXI BOOKING BUSINESS
ADMIN
The admin is the one who has complete authorization for the workflow of this business. The super admin can allocate access for each admin under him. Usually, the super admin role gets handled by the owner.
The role of the administrator is to set commission percentages, tax rates, fix rates based on limits, peak hour rates, hourly rates, etc., for all the stakeholders involved in the business.
The admin can verify the user's and the driver’s details and documents from the web panel.
DRIVER
The driver is the backbone of this online taxi booking business. They pick up the customer after receiving a ride request from them.
The driver is supposed to submit their vehicle documents and proofs of their ID during the account registration. The admin verifies them, and only after approval does the driver get access to all the features.
The driver can change his availability in the driver app and check the payment details, the commission amount, wallet balance, etc., from the driver app.
RIDER
The riders are the customers who can use the services provided by this business. The main motive of this business is to satisfy the drivers by picking them up at the earliest possible time and providing them with a sophisticated riding experience.
The riders get a verification code while registering on the app. They can log in to the app either with their social logins or the verification code.
The riders also have wallet options to recharge the amount that gets deducted every time they hail a ride.
ONLINE TAXI BOOKING APPLICATION BUSINESS INSIGHTS
Let us dive deep into the concepts and features of this taxi booking business to generate revenue in better ways. Apart from the general concepts, you can add additional features that suit your business requirements, which might be a unique point in your business.
BUSINESS WORKFLOW
A rider books a taxi from the app by filling in the pickup and drop locations.
The nearby driver gets notified of the rider’s request. Either they accept the ride or cancel it based on their availability.
If the driver accepts the ride, they get the rider's details, and the rider gets the driver's details with the fare details calculated approximately.
The driver picks up the rider by confirming the verification code sent to the rider app and drops them off at the exact location, where the rider app has options to track the ride. The specialty of this feature is that the driver and rider apps show optimised routes to reach the location.
Once they reach the destination, the complete fair details of the ride, including the tax and waiting time charges, get displayed in the invoice generated.
When the rider pays the driver either with cash or a wallet, the admin deducts his commission amount from the driver’s wallet.
Here is the basic workflow of the online taxi booking business: If you want to add unique features or customise them, that is up to your choice and investment.
REVENUE GENERATION
COMMISSION AMOUNT
The admin can earn from the commission amount they receive on the completion of each ride.
CANCELLATION CHARGES
When the rider cancels a ride, the cancellation charges are applied to his next immediate ride.
WAITING CHARGES
If there is a delay due to the rider, the waiting charges get imposed on the rider’s fare.
WAYS TO FIND CUSTOMERS
Okay! Now you are good to go with the business workflow and revenue generation. But have you ever thought about ways to find customers?
Yes! Finding customers for your business is tricky yet easily achievable with an optimised approach. There are ways to popularise your brand, either online or offline.
Social Media Marketing
Traditional Marketing
Direct referrals
FINAL ANALYSIS
I hope you have had enough of the process of building an online taxi booking app. So, draught your requirements clearly to accomplish all the goals, and analyse your competitors to know the pros and cons. Considering all of the facts I have stated, I recommend you purchase a ready-made online taxi booking script that is easy to customise.
This blog post is an interesting read pointing out the biggest advantages of getting an Uber app clone for your transportation business and how it can help you grow your business.
