Online Cab booking service is one of the most profitable ecommerce business models in the current age. This is why Uber is considered to the one of the most popular startup unicorns across the globe. Looking at the popularity and the valuation Uber has received; many other entrepreneurs have started to mull the idea of launching their own online cab booking startup.
There two key aspects to every online cab booking startup. An aspiring entrepreneur can use either of the business models.
- Aggregator model: this is one of the most widely used business model among cab booking startups, where they themselves do not own any cab but offer a platform to connect cab owners with the consumers. Big names like Uber, Cabcrazy and Ola Cabs work on this business model. An additional benefit of this business model is that you do not have to worry about maintaining the cabs and only have to focus on sustaining the platform.
- Ownership Model: Such a business model is application to a fleet of cab owners who want to start an online platform for booking their cabs. Startups like MeruCabs, Savaari work on such business model.
View the infographic below to know about both the models in detail –
The biggest difference between both the business models is that the former works like a marketplace whereas the latter works as a standalone store. Irrespective of which business model you choose, there are some features, which are highly critical for every online cab booking startup. These include:
- User engaging design – The fact of the matter is that for any type of online startup the biggest concern is having a user engaging design for its app or website. Nowadays consumers focus heavily of easy to use UI, which easily differentiates winners from losers.
- Secure payment gateway – This is one of the major factors which has made e-commerce so widely popular. There an online cab-booking website must have secure payment gateway in place so that the consumers can easily make the transactions without worrying about data breach.
- Effortless signup process – One should remember that the targeted user base just wants to book a cab and does not want to go through the hassle of long signup process. There this process should be minimal and must be completed in shortest possible time.
There are several other features required in an online cab booking service, which can make it stand out of the competition.
However you can also use an advanced software solution like Yo!Cabs, which includes all these features and makes it easier for you to launch your own online cab booking website.