In a short period of time, the transportation industry has witnessed huge changes, attracting new entrepreneurs to start their taxi app business. Many apps are already doing great in the market. However, there is still a huge scope for firms that want to start their taxi hailing online business.
The reason behind this is that the global taxi market reached US $232.6 billion in 2023 and is expected to reach US $357.9 billion by 2032. This shows the growing demand for ride services among users. So, if you are thinking of starting one for yourself, there is one essential factor to remember.
Building a feature-rich app is vital. It helps you stand out in the competition and attracts new customers. Thus, this article will help you understand the crucial features to include in the app.
Crucial Attributes to Cover When Developing Taxi Apps
Fares Calculator
It helps users estimate the fares for the ride they want to opt for based on certain factors. Such as the location of the user, type of fleet, and additional service they want. They can also calculate the waiting time, cost per minute, base fees, etc. Thus, these features help them have a clear idea of the expense of the whole trip. Including this attribute in the app even increases the transparency of the business and its customers.
SOS And Emergency Contacts
By including this feature in the app, one can contact emergency services to request immediate assistance if they feel unsafe while on the trip or for any unfortunate situation. This feature makes them feel secure during the ride.
Payments Integration System
Payment integration in the app helps the process a lot more quickly and effortlessly for the users, making their experience better. It automates the whole process for both the users and the business. You can even check your history and analyze your payments as required. It lets users securely link their bank accounts to the app’s wallet, increasing user trust.
Social Media Integration
Integrating social media into the app has numerous benefits. For example, users can sign into the app effortlessly using their social media accounts. They can even share their experience with their accounts, influencing other potential users to use the app.
Built-In Maps And Traffic Data
This attribute helps the users in multiple ways. For example, they can see the app’s traffic conditions in their area using the maps. The riders can also track the drivers to gain clarity and approximate their arrival.
Reviews
Customer reviews are essential to the app’s growth as it can benefit the business. The users’ reviews will help apprehend the areas of improvement and essential changes to improve their experience while using the app. The business must even focus on getting positive reviews on the app.
How Much Does It Cost To Build The Taxi Ordering App?
Crafting the taxi app does not have a definite price tag. The cost relies on different elements the firm has decided on, such as the type of company you select for the app development. It can be challenging to select the one that best suits your needs. Checking their website and other details helps determine whether they fit your needs.
Afterward, shortlist the ones that match your requirements for taxi app development services and provide advanced tech solutions for your business. This option is pocket-friendly and saves time compared to building it from scratch. This is the one factor that affects the cost of taxi app development. Let’s explore more below here.
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Developer’s Hourly Rate:
The developers’ hourly rate depends upon the type. Every technology coder has a different price range. Plus, the cost of programmers can depend on their location.
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The flow of the App
The app’s flow and complexity are directly proportional to the development cost. A complex app requires more effort, time, and various tools for development, which leads to higher expenses. Conversely, a simple app is much quicker and effortless to build. Further, the number and type of features in the app also affect the complexity
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Location Of App Development:
Every locality has a different cost range. So, the region from which you hire the development team decides the amount of investment it will need.
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Releasing Platform Of The App:
The platform you pick will directly affect the cost of the overall development process. For example, creating the app for iOS and Android will require a high level of investment, whereas developing for any single platform will not cost the business that much.
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The type of UI design
The type of UI design affects the app development cost. For example, a simple one is more within the budget, whereas if you want to include a complex one, it may cost more. To decide whether to opt for a simple or complex one, the business must decide on its requirements and target audiences.
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Tech stack for the development:
The tech stack used in the development process can significantly affect the app’s budget, speed, and scalability. The tech stack’s cost includes licensing, coders, and infrastructure costs. When picking any type of tech stack, it is very necessary to check the availability of developers with the skills required.
Also read: 8 Ways to Develop Effective Marketing Strategies for Your Business
What Is The Best Way To Monetize The Taxi Ordering App
Subscription Charges
Many other industries favor this model as it helps them generate steady income and build customer loyalty. This helps the business increase profits and app users by including different subscription models and commissions. It also helps the business gain customer attention as the subscribers have to pay less for the ride, and it even opens a great revenue channel.
Upselling and Cross-Selling
It involves observing the users’ persona and convincing them to buy more costly services than those they purchased. This method can increase the firm’s sales and revenue. On the other hand, cross-selling recommends that buyers order similar services based on their preferred one, such as offering them a combo service.
Peak Timing Price
In this model, the price of any service is not fixed; it changes depending on the circumstances. There are two different prices per kilometer and peak hours, as the traffic is higher during those periods. During these times of the hour, there is a higher demand for drivers and vehicles. Thus, reducing the demand and earning more commission are the best opportunities.
Ride Commission
These are the main sources of income for many businesses. The business takes its decided commission from all services it furnishes to the customers. Each type of service has a different percentage of the commission. It even takes its profit from the driver’s earnings.
Bottom Line
The transportation industry has witnessed huge changes, attracting new entrepreneurs to start taxi app businesses. This shows the growing demand for ride services among users. So, if you are considering starting one for yourself, these features are great. It would be easy to decide various factors about the app, knowing the costs and best ways to monetize.
