Those days are gone when one had to wait for a long time in pursuit of a ride. The taxi booking apps are bliss for our generation. Well, a very big thanks to technology. With taxi apps, people can book a ride within a few minutes, almost a few taps. This seems to be very convenient as we all are efficient in handling smartphones. Speaking about taxi booking apps, all were familiar with Uber as it revolutionized the global industry. Competing with them, Bolt secured its place in the ride-hailing market. In this blog, we will discuss the Bolt Clone app.
The Astonishing Growth Of Bolt – A Success Story
Bolt is an Estonia-based taxi service provider, offering vehicles for hire, car-sharing, and micro-mobility. It is operated in more than 200 cities in 40 countries in Latin America, Europe, Western Asia, and Africa. This app has nearly 50 million customers and 1.5 million drivers. In 2019, its net value was approximately $150 million.
Going back, it was founded in 2013 as Taxify and later renamed Bolt. In 2018, it started to gain profit because of its expansion into dockless electric scooters. In 2021, the company launched Bolt Drive, a car-sharing service app. This service has gained huge popularity in Germany and Spain. According to Financial Times, Bolt was ranked the third fastest-growing company in Europe after the service expansion.
Since its inception, Bolt continues to grab the attention of more customers towards its app with the incorporation of unique features and services. Astonishingly, it is the first app that enables riders to make payments via mobile carrier billing. As it may be, Bolt is larger than the most popular Uber in Africa. This information clearly shows that Bolt is a well-known taxi app that has grown further since its establishment.
Perks Of Choosing The Bolt Taxi Like App Solution For A Taxi Business
First of all, Bolt has proven to be a successful taxi app with a valuation of $1 billion, one of Uber’s largest competitors. Thus, recreating the same business model is one key advantage as you can succeed in your business in a short span. With the advent of Uber, the number of taxi booking apps entry increases tremendously. Why can’t you grab this opportunity to enter the ride-hailing industry with an app similar to Bolt? It is the right time to opt for the Bolt clone app.
Moreover, a white-label Bolt taxi like app solution enables you to enter this industry instantly. As a customizable & scalable solution, it is possible to make necessary modifications suitable for your business model. Notably, there will be two separate apps for riders and drivers. And, a powerful admin panel that lets you manage the business operations seamlessly.
Before you dive into developing a taxi app, understanding its benefits for your business is necessary. Here is a list of some major benefits of a taxi booking app for your business.
- Boosts sales
- Increase customer loyalty
- Direct connection with the riders (app users)
- Improving your brand value
- Enhance customer engagement
- Improves visibility
Take A Peek At The Workflow Of A Taxi Booking App Like Bolt
The taxi booking app lets the users place their rides within a few minutes and embark on their journey. In this section, we will go through the workflow of a taxi booking app like Bolt.
The first step is to install the taxi app from Google Play Store or App Store. After installation, continue with the on-screen prompts to finish the registration process.
They have to set the current destination by providing location access. Now, they have to fill the destination location field and have multiple options to choose their preferred vehicle type based on their budget. Notably, they can see the estimated price next to the vehicle type.
Once the customers book a ride, the app sends a request to the nearby drivers. Upon acceptance, customers can track the drivers’ real-time location.
The driver reaches the customer’s current location and drops them at the destination location on time.
After the ride, customers have to make payments. For this, they can opt for either cash payment or cashless payment. The final stage is to provide a rating to the service they availed.
Paramount Features Of The Bolt App Clone
It is one of the most predominant features in taxi booking apps. This feature incorporated in the Bolt app clone lets the driver locate the rider’s location. This helps the driver to reach the correct location without assistance rather than wandering.
Even before booking a ride, customers can determine the estimated price for the service after choosing the preferred vehicle type. So as to achieve this, the app requires the location details – pick up location and drop location.
The app users have the option to choose from a wide range of vehicle types. The ease of booking a ride at any time by specifying the location details ensures the rider’s satisfaction.
Offers & Discounts
Providing offers, discounts, or coupons encourages the app users to prefer your ride-hailing service. This is one effective strategy to retain your potential users and attract new users.
This feature is available in the admin panel. As an admin, you can view the analytics report regarding the app’s performance. With these valuable insights, you can come with new strategies to grow your business.
Four Predominant Revenue Streams To Consider During Bolt Like App Development
If you are new to the online taxi business and don’t know the strategies to generate revenue from the taxi booking app, look into this section. Here you will get to know the four predominant revenue streams which you can implement in your business.
Commission Fee From Drivers
This is the basic strategy to generate revenue from taxi booking apps. It is known that the app bridges the gap between the drivers and riders as both get benefits. That is, the riders get a driver whenever they want a ride. On the other hand, drivers do not need to drive around the area to get a ride.
So, you can charge a commission fee from the taxi riders for each ride. Typically, the commission fee percentage might be around 15% – 30%. Ensure to set a competitive price so that the driver registered with the app will not have a second thought of choosing your competitor’s app.
Subscription Fee From Customers
The subscription-based revenue model allows the customers to avail special services by availing of a subscription plan. They have to pay flat charges for a specified time/distance. Thus, laying a time limit on 10/20 subscriptions will open the way for you to get better profits.
Cancelation Fee From The Customers
Cancelation charges are levied from the customers when they cancel a ride after booking it due to any reasons. There is also a time when the drivers may cancel the ride. You can even charge them for ride cancellation. Set a certain percentage for the cancellation fee.
Allow advertisers to promote their brands in your app. In turn, you can charge them an advertising fee. This revenue model works well when the app reaches a broader user base.
Additional revenue streams include:
- Surge pricing.
- Charging for ride delays.
- Charging for change of schedules.
- Different prices for different vehicle types.
You can consider any of these revenue streams during Bolt like app development, depending on your business model.
How Much Does A Bolt Clone App Cost?
A Bolt Clone app that is developed from scratch is expensive. On the other hand, choosing the Bolt Clone Script is pocket-friendly and doesn’t take much time for app development. Moreover, many factors will influence the app development cost as it majorly varies according to the individual business requirements. Predominant factors include the selection of features, technology stack, the choice of platform, app development firm’s location, app design, and time frame.
Hopefully, by now, you would have a clear understanding of how you can enhance your taxi business with an app and sustain the lucrative ride-hailing industry. Therefore, investing in the Bolt Clone Script is a righteous choice as the online taxi booking sector’s net worth is projected to reach $218 billion by 2025.