How to startup a taxi business in UK?
The ride-hailing industry in the UK is flourishing, and several new businesses are entering the market to earn their own share of the revenue. Learn how..
The ride-hailing industry in the UK is flourishing, and several new businesses are entering the market to earn their own share of the revenue. Join this prospering market by launching a top-notch ride-hailing application and gain an edge over other businesses operating in the niche.
A sneak peek into the thriving ride-hailing market in the UK
- A recent report from Statista has given the statistics below that stress the significance of starting a ride-hailing business in the UK.
- The revenue in the ride-hailing industry sums up to US$6,768 million in 2020.
- The revenue is expected to grow at a CAGR of 11% for the years 2020-2023, amounting to a market volume of US$9,244 million by 2023.
- User penetration is 21.8% in 2020 and is expected to reach 27.3% by 2023.
Things to consider before getting into the app development
Analyze the market
Several new businesses have emerged into the UK ride-hailing market, so ensure to study the market and come up with a USP for your business so that you can stand out from the rest.
Understand the policies of the UK government
The government might have a set of rules and regulations for businesses that enter their ride-hailing market. Get to know them, so you don’t face any issues after the app launch.
Address the problematic points of your users
Even among the availability of several taxi services, users still face a few issues. Research the target market and find their pain points. Offer solutions to these issues with your app.
Market your app
It is vital to market your app after its launch in the taxi industry. Only then, your app can reach your potential audience, gaining you increased user base. Make use of mobile app marketing strategies for the same.
Hope the writeup is useful! If you are looking to get the app for your taxi business developed in a short period, it is suggested to opt for Uber clone app solutions rather than developing it from scratch. That way, you can save costs and efforts to spend on app development.