Ride-hailing has become a boon for everyone who wants to commute in the traffic-congested roads at present. It has attracted many people primarily because of how simple it is and how economical it has turned out to be. It has led to the development of a new market that mainly features carpooling and ride-sharing. So if you aim to provide a highly optimized taxi cab business, this is indeed the right time when you can gain the edge in competition. Thereby, before you take the plunge into this business read the insights which this article will provide for you.
So what exactly is Ride-sharing?
It is the process where the driver will pick up many passengers who want to travel on a common route and where they will be compensated based on the fuel/gas that has been shared.
So as a result, you can save a lot on the fuel, and you can add more riders who want to travel as well.
The approach followed is
(i) The Driver will update his/her route and fix a destination.
(ii) Riders will look out for cabs that operate in the same route via the application.
(iii) The Rider will update the status of the journey and get synced with the driver.
(iv) Finally, the driver picks the rider up and drops them off at the planned location.
Once the trip is over, the rider will pay a fee that is split among all the other riders. This is thus, a win-win situation for the rider and the driver included. The benefits associated includes conservation of time, cost and money, and this is a very eco-friendly option.
There are some important steps to consider before entering into the ride-hailing/ ride-sharing market. It begins with the establishment of the taxi booking segment, which is ruled by some key players like Uber and Ola. They focused on a given niche and optimized their success. However, soon everything will end up saturated. Thus, it’s imperative to narrow down on the segment and brainstorm ways to enthral people to your business.
The rides can be classified into several categories to expand the range of operations.
Normal trips
Here, services are provided among the within and around the external boundaries of the metropolises and cities. This will benefit the people who regularly commute as those who travel on a common route can leverage the cabs to create a perfect ride-sharing service.
Extended Trips
This is best applicable when the trips are made from one city to another, or it is based on a ride with several stops. The new user will be provided with options to choose a given type of ride.
The Business Model:
Determining the business model will help in establishing a market strategy. Research intensely to determine the operational model. It should be done with a greater focus on distribution channels, income streams, resource elements and much more, which will help your ride-sharing business in the long run.
Once everything is ready along with the carpooling service that is going to be offered, now narrow down on the main aspects which will give the competitive edge so that you can develop something more optimized than what your competitors are offering at present.
Monetization:
A business with investment is incomplete without any revenue being generated. You can provide Freebies where the user base can subscribe for getting main features for free with a fixed time. Other steps include providing enthralling discounts like unlimited rides for the first 24 hours.
Further, you can provide the app for free with ads, and for an ad-free experience, you can provide the premium version of the app.
Conclusion:
Carpooling has a very bright future in many nations. Major governments are motivating the people to associate with this commuting method in light of the increasing CO2 emissions from across the globe. It serves to be environment friendly and also is very mutually beneficial for both the rider and the driver.
If you want to begin your successful rideshare oriented company, you can check Uberdoo’s very own Uber clone script which provides a lot of customization options and amazing features.
Some features of our solution include the likes of Smart search for cabs, ID verification, Ride Tracking, SOS based Emergency Services, User History and a feature to review and rate the ride along with the driver/rider.
To know more about how you can use this amazing script to develop a robust and cost-effective Uber clone solution, please do visit us at Uberdoo.com.
