This one here is a business that is just like the usual taxi business but the major difference being that all the vehicles are running under the Uber platform. Uber is a ride-sharing company that was founded in 2009 that offers services some of which are ride-sharing, ride hailing and food deliveries amongst others. Uber is found in at least 785 cities across the world and still expanding. So many other like businesses have sprouted all over the world by fast-following the Uber business model. The shared economy is growing rapidly as can be seen from the shift from just ride-sharing of vehicles to several other things. This is a good business to start because there are certain things that will happen by default and effortlessly. All you need is to acquire a vehicle or vehicles and get them registered on the Uber platform and then you are good to go.
This is obviously important because as earlier highlighted Uber is not yet in every city on this earth. So you must first of all find out if Uber is already in your intended target area. Supposing Uber already covers your target area you must do some research to find out how widespread the use of Uber services is.You will also need to know about the type of customers who use Uber services – the demographics and other related metrics. It is quite possible you might be the first person in your area to be starting this type of business. Ideally that could mean that you do not have existing business players to draw insights from. However, that does not really matter because owner-drivers registered on the Uber platform are perfect case studies. You can learn quite a lot from how their experiences have been like. You can also draw a lot of insights by looking for information online. Uber is a reputable ride-sharing company so there is loads of valuable data online. It’s also important to have a detailed uber drivers business plan.
Make Sure You Have A Comprehensive Uber Driver Business Plan
The failure to plan is the beginning of business failure. The uber car business plan must be clear and succinct enough to give your potential partners, clients and investors an overview of what your objectives are. At the same time, it must be detailed enough to explain the operations of the business that you propose. At the very minimum you need to have the following included in your uber driver business plan:
- The mission, vision and operational strategy
- Market Analysis And Customer Segmentation
- A business case showing that the business is financial viable and sustainable
- A marketing and customer care plan
- An organizational chart and human resource policy
- A three-year expansion outlook
- A risk and rewards Analysis
You will need to make an informed decision about the business type that you will adopt for your uber driver business. Each of the different business entities requires very specific application processes for permits and registrations. The business type you select will determine who owns, runs and supervises the operations of your uber driver business.
Vehicles And Equipment
You will have to get vehicles that will serve as taxi cabs and you register them on the Uber platform. You must know that there are certain requirements that you must adhere to for your vehicles to be eligible for registration. For starters, a vehicle must not be above 10 years of age – but this tends to vary depending on your city. The other requirement is that it must be a 4-door car, minivan or truck. It is mandatory that the vehicle have seats and seatbelts for 4 people – excluding the driver. The vehicle is supposed to go through an inspection process that it should pass. Vehicle must be fully insured with the insurance in the driver’s name. These are some of the vehicle requirements that must be adhered to.
While we are at it we can draw our attention to the fact that drivers must be 21 years of age or older. You are not necessarily bound to attach both a car and a driver. It is quite possible to attach a car only without a driver but benefits that accrue to you are more if you also attach a driver. They obviously must be properly licensed and must have driving experience of 3 or more years. If you want to get more detailed and location-specific requirements you can go to the Uber website.
The service offered will obviously align with the services that Uber provides. These are services like ride-sharing, ride-hailing and making deliveries amongst others. So you must have a good understanding of the services that can be offered under the Uber brand before committing to this line of business. Just a word of caution and advice; the services all include direct interactions with the public (strangers mostly). So you must be prepared to deal with various types of personalities.
Market And Marketing
The market is there but is highly segmented and depends on the location. There are some locations where Uber is now main stream and that makes it easy to score customers because the market is significant. Then there are other locations where Uber might still be in its infancy. So the availability of a market must be ascertained before you start this business. The beauty of this business is that Uber does the actual marketing for you. You can catalyse your business by ensuring your vehicles offer pristine service during every trip they do. This will lead to significant positive ratings and reviews. Remember that getting trips depends on customer dynamics with respect to availability and location of your vehicles. So you do not necessarily have to grapple with trying to market your business – Uber does that for you. In fact, that is one of the reasons why this is a very easy business to start and run because it is not as demanding as other lines of business.
Staff And Management
You shall be having several vehicles under the Uber platform. All these vehicles will be having drivers that you would have picked (the most preferable approach). This is going to need some intricate planning and operations management. However, this is something you can effectively do yourself and maybe with the help of your family. Remember you have to limit costs as much as possible especially for this type of business. The money being paid by a customer is split several ways so the revenue might not allow for hiring employees willy-nilly.
That is how you get to start an Uber taxi cab business. It is quite an interesting business approach so why not go for it? Just remember to understand how the system works, the requirements and tick all the boxes. The shared economy is growing and so is Uber so ride on that wave.