Want To Start A Taxi Business? An App Like Ola Seems To Be Perfect
For hiring a taxi, you need to go by the roadside. The people need to wait for the cab to arrive and hire them at reasonable prices. The city’s public used to get late by the specific time required to hire the ride. Later, due to public demands, technology advancements became mandatory for implementation.
There were phones brought into the market by technology. Through it, people used to call the taxi driver and would ask for his availability. If the driver seems to be available to them, they used to ask for his arrival at their pick-up points. But, very soon, this trend was also outdated due to further innovations.
The rise of smartphones came into the market. The people initiated the usage of smartphones, and gradually the usage went on rising. Recently, smartphone users in 2019 reached the number of 2.71 billion users. The use of smartphones included people’s penetration of apps.
Hence, the apps were introduced for hiring the taxi. As a result, many apps were launched in the Indian ride-sharing sector. Ola, Uber, Lyft, Didi, Meru, Via, etc. But, in India, there was no other app that gained tremendous pace like Ola. So, the idea of building their taxi-sharing app came to the minds of entrepreneurs as it seemed for them to earn larger profits in the future.
Indian Ride-Sharing Market Figures:
Recently, in India, businesses are gaining an online transformation through apps. Similarly, the ride-sharing ventures were also adopting ride-hailing apps to attract users. So let’s go through the statistics related to the ride-sharing market in India:
- According to the report, it is expected that the Indian ride-sharing market will record an immense rise with a CAGR of 56.8% from 2020-to 2025, which would result in a surge of revenue up to $3,952 million by 2025.
- In India, the taxi-sharing market is handled by the two big giants, Uber and Ola.
- Before the arrival of Ola, there were no prominent ride-sharing apps in India. But, Ola came up to be the most accurate app for booking a ride.
- Nearly there was about 6% penetration of smartphones by people in 2013. Still, later it was raised to a 28% penetration level till May 2019, which raised the number of booking from an app, while it increased to 60-65% in the cities, which brought the revolution in the Indian taxi booking market.
Thus, the entrepreneurs were compelled to build an app like Ola by seeing the figures mentioned above about Ola and the overall Indian online cab-sharing market.
Ola-like App Development Companies:
To develop an app similar to Ola, you need to consult certain app development companies that can offer you the development of an app. For creating an app, consider the following mentioned firms:
Uberdoo delivers the Ola-like app to many businesses. The firm aims to focus on offering strategic solutions to its clients by satisfying their every business requirement through an app.
The company is an on-demand app development company providing an app like Ola to many ventures. Their motive is to deliver efficient solutions to their clients to meet up the demands of the public.
It is a firm that provides the best Ola-like app development to businesses. They offer their clients a top-notch solution for their ventures to satisfy the consumers. Thus, it helps the client sustain in the market due to this solution received.
How does An App Like Ola Earns Profit?
The revenue streams of Ola rise even higher with each passing year. Below mentioned are profit yielding strategies implemented by Ola:
An app charges a commission for gaining a ride-sharing experience through an app. It charges the commission to their customers for the trip charges by considering several aspects.
It has also introduced a payment wallet for performing payments anywhere. Payments for ride-hailing services can also be made through a wallet, which offers Ola revenue.
Advertisements And Promotions:
It charges for making advertisements by advertisers for promoting different companies’ products. Ola charges some amount of commissions for such promotions. There are various other channels through which apps like Ola can yield some profit and increase the profit margins for entrepreneurs.
Thus, as an entrepreneur, you might have some ideas for establishing your traditional business online. Also, you must have learned that there is a vast demand for these apps, so it can prove your decision to transform your business online through an app to be a correct decision.