Cab Service Franchise in India
The world has become smaller, everything has become easier and faster as almost everything around is or can be controlled by our handheld devices. Started off with contacting people and work, now allows quick arrangement of transportation and travel, taking care of all our commuting needs, without any hassle.
Reason for popularity:
Travelling from one point to the other, if not over long distances has become both easier and cumbersome compared to a few years back. Although location accessibility inside and outside cities have increased, the traffic and amount of time required to commute over even small distances have increased due to traffic, even the public transportation systems are overwhelmed by the population. A lot of us would rather just book a cab and commute, rather than stressing ourselves while driving, and this demand of cabs has risen so rapidly that it started not only a cab service revolution but also self-drive, drop-anywhere and vehicle rentals have grown in popularity.
A cab franchise such as that of uber franchise, ola cabs franchise has grown in demand in the recent few years due to their ease of access and affordability. Hiring a cab no longer requires one-day pre-booking or even calling up taxi services, these cabs have taken advantage of the advancement in technology and have based their entire operation on smart-phone applications. These services not only satisfy instant commute requirements but even allow near future rides to be scheduled. Equipped with GPS, reaching both pickup locations and the destinations have become unbelievably easier, countering issues such as communication gaps and language barriers between the cab driver and the customers.
The vehicle rental industry is another counterpart of this sector that is growing at a really fast pace. With the introduction of a latest app-based car and two-wheeler rentals that enable quick booking and flexible pickup and drop off location, commuting through cities is no more something to worry about, and avoids the need to change between different modes of transport in one single commute.
The Numbers of the Industry:
The taxi market in India stood at around 6.4. Billion Dollars in the year 2016. It is although estimated to grow at a CAGR of 13.7% in the time period between the financial years 2017 to 2022, and will peak at a cost of 14.3 Billion Dollars. While the market size for the car rental market is projected to grow at a considerable CAGR of 35%, and this sector is currently worth more than 800 Billion Indian Rupee and is expected to grow more by the year 2019, and has also been named Indian Youth's most preferred mode of transport, with all credit going to its ease of access, "pick and drop anywhere" concept, and extreme affordability.
Popular names and their features:
The most popular names in the taxi cab services are definitely Ola and Uber, along with the various other non-app-based services such as Meru cabs and Go cabs. These brands have almost gone viral, with people depending on these for their day-to-day commutes. The numerous advantages provided by these companies such as 24x7 availability, reasonable prices and offers, prompt pick-up and drops, convenience designed to suit everyone's personal transportation needs and much more.
While the cab drivers, or as they are called- cabbies do the stressful driving, the customer/passenger can relax and enjoy the ride, or get work done with many cabs offering in-car wifi and even entertainment services such as in a commercial airline. The drivers are well aware of city routes and shortcuts and also have the GPS route set to the passenger's drop location, to keep them on track if they ever lose their way, so the passenger/customer has almost nothing to worry about regarding the commute. One of the advantages of these services that is a boon for everyone is the fact that you wouldn't have to search for parking spots to fit your car into.
Vehicle rental services come with their own set of advantages. Affordability and flexible offers are at the top of the list, and the fact that you could drive numerous cars which suit your requirement or mood. Phone-based applications such as Zoomcar, Drivezy and Metro bikes have made this extremely easy, you could pick up a vehicle of your choice situated near you, use it and drop it anywhere to be picked up the next person.
Joining a franchise such as these might turn out to be one of the best decisions you have ever made. If you are excited and interested in investing in such a franchise but don't know how to do so, just visit the FranchiseBazar website or get in touch with us and we will set you up with the franchise of your choice.
Written By: Resham Daswani
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