Today, Uber doesn’t necessarily have to do with the taxi business. You can find them everywhere, including lifestyle, education, home chores, and even food. These types of platforms are taking over every aspect of our daily lives. Thankfully, each service somehow has its loyal customers. That gives the industry a chance for more key-players aside from UBER. And with so many readymade Uber Clone Software’s available, its all the more easy to start.
So, I’m sure you’ve been thinking a lot about staring your online ride-hailing business that’s the same as Uber. In fact, your business might soon compete with the known UBER brand if you only start today. The trick is, knowing where to start. But don’t worry, this article is in your best interest.
How to start an online ride-hailing business like Uber?
There are a few steps that you will need to consider. They include:
- Market research
- The specific niche
- Designing the business model
- Taking care of all legal-related issues
- Adding the MVP feature
- And finally, creating a promotional plan
1. Market research
Without a doubt, taxi services are all over the world, even in your home town. To get this right, when you want to start a business-like Uber, then you will have to higher experts in the economic analysis.
They will help you work out the cost, options, and possibilities of success. Also, you will learn how long it will take to get the returns on your investment plan. It’s also a good idea to check on your competitors so you can create something unique and even understand their services.
2. Deciding on the specific niche
As I said earlier, Uber-like platforms are now everywhere in our lives. Let’s start with UberEats, Zomato, and many more. Each of these platforms caters for different niches. With that in mind, you will need to find which niche you want to enter into. Possible fields that you could consider are:
- Salon and Beauty services
- Babysitting and house chores
- Food delivery services
3. Business and Revenue model
An Uber-like platform can adapt to any field, and there’s almost a sure guarantee of return on investment. However, the model will not be built on stones. Therefore, you will have to construct your business model and also the revenue plan.
4. Legal Matters
The choice for a taxi service currently lies between limited liability companies and general partnership. The LLC works best for any small scale busines. More importantly, it’s ideal for moderate companies that are just starting. With Limited liability, the only thing at risk is the money and not the partnership.
5. MVP features
Building an Uber-like platform is quite expensive. There are three types of apps involved, and they include the Admin panel, The app for the drivers, and the customer apps. But if you are on a tight budget, then the best option for you is to go with the MVP feature. The app will only include necessary functions, for instance, the delivery reports, route optimization, and accept or cancelation of the order on the driver’s app.
Last but not least, you will have to work out an effective advertising plan. What’s the use of creating a service that your customers will never get to hear about? Work on advertisements to help your business grow. You can use print media such as newspapers. However, the issue here will be the cost.
On the other hand, you can choose to go on the internet as the main channel for your promotional advertisements. You can use social media platforms such as Instagram, Facebook, and Twitter to advertise your platform. Additionally, you can also use SEO and content marketing to boost the traffic on your apps. All it takes is the zeal to succeed and a few bucks in your bank to get this business running.