In this fast-paced, people can get everything done at their fingertips; taxi booking is also no exception. However, no one gets out of their home to hire a taxi, thanks to technology that has brought SaaS-based taxi solutions into the picture. So, if you want to start a taxi business, this is the best place to find out what the SaaS business model can do for you? SaaS refers to software distribution models growing faster and gaining massive popularity among startups.
Functionalities like no installation fee, hardware acquisition, and an option of charging a fixed fee per month make the model different from others. Whether you should go with the SaaS model or not is the main question that most startups want to get answered. If you are a taxi entrepreneur, you stuck on this many times. And that’s not bad; running a ride-hailing business startup is the most important decision, so you must have a better understanding before taking any final step.
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You can best tackle such a state of dilemma with the help of experts. After years of experience in the taxi industry, Grepix Infotech has gained experience and expertise in assisting taxi startups with the best saas-based cab app solution. This blog will discuss SaaS-based taxi dispatch software, how we can help taxi startups, and make the ideal decision. So, without any delay, let’s begin.
With growing opportunities, competition is also getting stiff. Cut-throat competition exists among the players in the taxi booking business. Every player is resorting to unique innovations and top ideas to attract more customers to their taxi dispatch software and retain them for long. A great Taxi Business Idea can help grow faster and retain them long in a competitive market. Head over to the blog by clicking on a link?
SaaS Is The Most Startup-Friendly Taxi Business Model
SaaS (Software as a service) is a software distribution model in which applications are hosted on a cloud and made available to end-users. The SaaS model is continually getting popular among the startups looking to kickstart the ride-hailing business. Its startup-friendly nature has proven the right choice since it helps overcome all major complexities startups face.
The SaaS business model allows subscribers and clients to pay an annual or monthly subscription to access SaaS software instead of a one-time fee. This pricing model allows startups and other SaaS businesses to generate monthly recurring revenue thanks to cloud computing while focusing on new features, products, better service, and other benefits that provide lifetime value to new and existing users.
The SaaS market size in 2020 was $113.82 billion and the market is anticipated to grow in leaps and bounds from $130.69 billion in 2021 to $716.52 billion in 2028 at a CAGR of 27.5% during the 2021-2028 period according to Fortune Business Insights.
According to Statista, the SaaS market was approximately $145.5 billion in 2021. It is expected to reach approximately $172 billion in 2022.
With the help of the SaaS-based taxi solution, taxi startups can overcome the next major hurdles:
- Budget Limitations
- Time Constraints
- Lack of Expertise
These are a few problems usually faced by startups across the region, industry, and niche.
SaaS-Based Business Model For Taxi Startups
In the subscription-based pricing model, customers regularly pay for the continued use of a service or product. It means the strategies for subscription prices are very different from pricing traditional products; ongoing customer payments and complex product packages mean SaaS companies need to put more thought into their pricing.
It is also called the Pay as you go model, which is often the cheapest and more flexible option from the customer’s perspective. You can find that the people interested in this SaaS option see it as a means to save money and stick to their budget more consistently.
1. Fixed Price: You need to pay a fixed one-time fee for a specific solution to your needs.
2. Monthly Subscription: You need to pay a monthly fee with a SaaS-Based solution.
- Customers don’t have to spend much money if they only use a few features.
- Users can try your service and gradually increase their payments as they integrate it into their daily routine.
- Heavy users are appropriately charged for the services they utilize.
Why You Choose SaaS For Your Taxi Startup
On-demand service providers who offer ride-hailing services can get a saas-based taxi solution rather than buying one-time software costs. This model provides cloud-based access to an app designed especially for SaaS distribution with the same source code for all clients.
When new functionality or features are added to the software, clients get notified that the software is updated to a new version. SaaS is only for you if you own a taxi business and want to grow it greatly with technology. Keep reading the reasons how SaaS helps benefit ride-hailing services:
Pay-As-You-Go Business Model
Building software is a one-time solution, so you must invest a lot of money. For example, more money is needed to set up a server or rent one. On the other hand, a SaaS-based taxi app solution ensures transparency about billing and budgeting. Therefore, it is the most cost-effective method where business owners monthly pay the fee.
In the subscription model, taxi startups can pay on the go and will be paid only for the number of cars, drivers, or passengers they add. This model also eliminates the hardware installation and helps control maintenance costs. E.g., A Saas-based taxi management software is an integrated platform that offers taxi businesses an option to subscribe to the software and pay monthly bills.
Quick Launch To Market
You can acquire a ready-to-use solution because the subscription-based cab booking app is preconfigured and preinstalled. You can request small customization if you want to make it more personalized. With our subscription-based software service, you can get to market quickly and without downtime.
SaaS taxi app software solution is hosted on the cloud, the SaaS provider is responsible for product upgrades, maintenance, and support. You will regularly update new features to meet market demands in the SaaS solution. Now, you must upgrade your system to access the latest features.
The software service providers may notify you once an update is available. You also won’t have to spend as much on server maintenance as you would with a one-time software solution. In addition, you will receive a licensed product with a secure platform for delivering taxi services with no issues.
Reliable and Secure
Specific SaaS systems include enhanced security features that allow your data to be safely kept and retrieved during an incident. Furthermore, such software is dependable and can be relied on at all times.
Integration and Scalability
Customers can use APIs to combine their SaaS product with any third-party tool for marketing and analytics. Then, when you need to expand your service area, upgrade your subscription package and add a few additional vehicles to your existing system. You do not need to purchase any additional software or licenses. You can also reduce your size at any time.
Apart from that, the SaaS model’s most significant benefit is its accessibility. For example, You can access a SaaS-based taxi app anytime, anywhere because the software is hosted in the cloud over the internet.
Build A Winning SaaS-Based Taxi App
While Uber-like apps are in high demand, not all smartphone apps for cab booking can compete in this competitive market sector. User-friendly Customer app (iOS and Android), functional Driver app (iOS and Android), quick and efficient dispatch solution, and convenient fleet management panel are the main features of a fantastic taxi booking app. In addition, the subscription-based cab booking app should be scalable to give your business the growth it deserves.
Unique Value Proposition
You’ll need a distinctive value proposition to develop a strong brand and set your taxi booking app apart from the competition. A unique value proposition helps you attract drivers and riders to an Uber-like taxi app.
Find Your Niche
There is no single niche in the taxi industry. However, you can consider moving to the niche of electric car taxis that could work great for your taxi booking app. It is because people are more concerned with ecological issues than ever before. That’s why it’s good to make an ideal decision towards an environmentally friendly means of transport.
Build A Project Vision
People create mobile apps to answer specific concerns that users face. As a result, to make a successful taxi application, you must first determine for whom you will develop a mobile application, what challenges customers have, and how technology might address these concerns.
Prepare Technical Documentation
Every project requires technical documentation. It informs taxi app developers about the system they are planning to construct. The discovery phase defines what your project should accomplish, write use cases, and functional and business requirements.
Develop MVP For Your Taxi App
The first version of an app is known as an MVP. It has the most basic features, which are adequate for consumers to install and rate the app. Startups can use MVP to launch taxi booking apps without investing more resources and then add additional features later. Some of the features you need to select for the MVP of the taxi booking platform.
Passenger App Features
- Vehicle Categories
- OTP On Trip Start
- Live Tracking
- Chat Feature using Sockets
- SMART Fare Management System
Driver App Features
- Driver Documents
- Ride Requests
- Accept/Reject Ride
- In-app Turn-by-turn Navigation
- Driver Statistics
- SMART Referrals & Rewards
- Driver’s Availability
- Deactivate Profile
- Driver’s Multiple Shifts
Admin Panel Features
- Users Manager
- Transactions Manager
- Drivers Manager
- Trips/Rides Manager
- Wallet Manager
How Much Does It Cost To Develop An Uber-Like App?
The saas-based taxi booking app cost depends on several factors.
The development team has a good knowledge of technologies and similar projects they completed in the past. We provide the flexibility of choosing the best-suited hiring model, fixed or hourly, based on all our clients. As for the app’s functionality, the calculation has a simple meaning – the more features you want to add, the higher the development cost of such an app.
A Uber-like app solution can help any taxi startup use these advantages. In today’s world, when you must be smart, quick, and technologically savvy, SaaS is the way to go. If you’re looking for a SaaS-based taxi app solution to kickstart your business, your search ends here. UBERApps offer a powerful and advanced SaaS-based Taxi Solution with cutting-edge features and technology. You can contact us anytime to learn more about our services.
Get a customized & SaaS-based taxi dispatch or booking solution for your business featuring a customer app, driver app, and intuitive admin panel.
Vinay Jain is the Founder at Grepix Infotech and brings over 10 years of entrepreneurial experience. His focus revolves around software & business development and customer satisfaction.