A kick-ass Taxi app idea that solves real-life problems will multiply your profits.
And how is it possible?
Currently, taxi -hailing app is one of the most profitable sub-niches in the on-demand app ecosystem. Take for an instance:
- The Uber Cabs – This on-demand taxi hailing app was introduced in 2009. And just in a span of eight years, it has transformed into a $3 billion venture with around 40 million monthly active riders.
- Another example is of Lyft: This taxi-hailing app is just limited to selected cities in the USA. Still, it has around 13.9 million monthly active users and is worth $2 million venture.
- Ola Cabs available in more than 100 Indian cities is today, a $5 million venture!
Bottom-line: On-Demand Taxi Apps are in great demand! The aforementioned taxi apps have recorded an impressive growth in just a few years. They are just the tip of an iceberg!
There are several such apps across the world which are earning tens of thousands of dollars, making their way into the user’s daily routine.
Do know what led to such a tremendous growth? – The changing consumer behavior!
Consumer behavior has evolved drastically. Nowadays, people want more convenience and comfort. They want everything at their doorstep, with just a tap on the smartphone.
And Apps like Uber caters to this need for ease, comfort, and convenience.
The user can hail a cab right at their doorstep, at any given hour of the day, by just tapping on their smartphones. Result – Immense Response from the users who commute regularly. Moreover, most taxi apps follow a two-way business model. (Registered) Cab drivers or car owners also get an opportunity to earn some extra money, through this service.
So, long story short, Taxi Apps address real-life problems faced by two different set of users – Cab Drivers and Commuters – through a single platform. It is more like hitting two birds with a single shot.
And that’s precisely apps like Uber is making their way into the app market, earning $$$!
Sounds like an interesting opportunity to monetize, isn’t it?
But, you are still not sure about taking a plunge. Something holds you back?
Is it the competition?
Do feel a bit apprehensive about the niche being a little over-crowded?
True, there are many players in the niche. Obviously, more players = high competition. But, look at the greener pasture!
A competitive niche is often validated. And so, it is like half the battle won!
How? You will ask.
It’s simple – A validated niche means you already know what users want. You know their problems. You just have to think an out-of-the-box solution and provide it through your app. This makes it easier to strike a chord with the users.
Just for an instance: You can build a taxi app, providing transport facilities specifically to female commuters/passengers who have to travel at an odd hour (may be at late in the night). Here, you focus on very specific problems faced by women i.e., safety and security, and provide an easy, feasible and quick solution through your app. Also, your app can offer a limo rental service for the couples who want a romantic night out!
There are plenty of areas where you can pitch your idea, provided your app solves a specific problem.
What we mean here is: You need a killer idea that solves a real problem + good engineering + excellent UX. And BAM! You are ready to cash-in even when the marketplace is super competitive.
It is important that you look at the on-demand economy, especially taxi app, as an ocean of opportunities. You need to explore it further and identify various problems faced by daily commuters, provide an interesting and feasible solution. Chances of your app hitting the jackpot will manifold!
What about the budget? How much does it cost to build an app like Uber?
It is important to note that taxi app is not a single app. It is a set of two different apps – Passenger app and Driver app, along with an admin panel.
Therefore, the cost varies greatly. It depends on the complexity of the idea and number of features you want to integrate within the app.
But, if we talk about a taxi app with basic features, it will cost you around $12-$20k.
So, what are the basic features?
Some of the basic features in passenger app include:
- Register and Sign-In
- Payment Gateway
- Push Notification
- Ride History and Fare Collection/Calculation
- Driver Reviews & Ratings
Basic features in Driver app include:
- Order Alert
- Reports that shows trips and earnings
Integrating more advanced features like Split Payment, Vehicle selection, voice recognition, an interactive map and taxi tracking will cost you somewhere between $60k to $80k.
Have an interesting taxi app idea? Want to learn about how to turn the idea into reality? Or have questions about taxi apps?
We will help you with all your queries. Talk to us: Contact us!