People living in Alpha cities like New York, Dubai, London, or Mumbai have two biggest vows: busy traffic and lack of parking space.
They are less likely to buy cars and rather rely on ride hailing apps like Uber and Lyft. The advantages are many.
They don’t have to worry about car repairs, a permanent parking space, and driving themselves in busy traffic.
For investors seeking a fresh investment opportunity, investing in an app-based taxi booking service is a great idea if they are not investing building an Uber-clone of their own.
Even with dominant players like Uber and Lyft in the market, private-hire car business is still a thriving one as long as you stick to a staunch roadmap and learn from your competitors’ mistakes.
Staying relevant by bringing changes
What sets apart Microsoft and Google is the latter’s tendency to stay relevant to changes. The same goes with Uber and most of the modern-day startups. Like Uber, they don’t make many mistakes.
Despite being on the top of private-hire car business for many years now, Uber keeps reviving its brand identity. Did you notice Uber changed its logo thrice since its inception?
Booking apps are mushrooming everywhere. Mobile technology has made it pretty easy and possible to run a business through just an app.
But, the problem with mobile startups is such that there are plenty of good ideas already in the market. What is missing in the business is the uniqueness of idea.