Ride-hailing business is booming across the world irrespective of the region or country. Egypt attracts a huge range of tourists every year and is likely to welcome an increased number of international tourists by 2020. Moreover, people rely mostly on taxis for their daily commutes, airport transfers, visiting attractions, and so on. So, the doors are wide open for taxi startups to emerge in Egypt, which would be the potential landscape for the taxi business to grow. The growth of the on-demand transportation industry has inspired many to take up this ride-sharing business. If you are one of them who want to start up or uplift the taxi business, this article is for you.
Egypt has imposed a regulatory law to legalize the ride-sharing service. However, it is definitely to take the industry in a progressive path. Besides regulatory concerns and other key competitors, you can still catch more fish in the taxi business by taking up ride-sharing options through technological implementation. Whether you are new to the industry, have a traditional taxi company, or want to explore the sector as a merger, it will work for you in the following ways:
- For a Newbie
If you are new to the industry, it is well and good. You can build your empire and disrupt the industry in your own way. First, you need to clear all the legal requirement of Egypt so that you can run your taxi business with no issues. Then, you have to consider acquiring vehicles and drivers. You do not have to buy vehicles on your own; you can also lease vehicles by partnering with taxi companies and drivers where you can simply be an aggregator to manage things and get more out of it. The next step would be to acquire a taxi software. As the taxi management technology will allow you to manage everything single-handedly, you can handle any number of taxi companies and drivers on a single platform. Click below to know more about the taxi operation process in detail!
- For a Traditional Taxi Company
If you own a taxi company that delivers taxi solutions in a traditional way, you have a lot more advantages to be more successful and compete against your rivals. You must be aware of all the regulations at Egypt to run a taxi company; moreover, you know the pulse of your target audience and their expectation. Once you are done with the legal requirements and have needed assets (with proper licenses), you are 50 percent ready to go live.
The other 50 percent lies in the hands of the technology. You have to acquire a reliable taxi management software. You can develop one or buy from the tech companies who are experts in delivering taxi dispatch software. It would be better to adhere to a ready-made, white-labeled taxi software as it will be equipped with all the required features. Such software will be installed on the cloud and does not require any hardware or special device. Therefore, you can start off your new venture in a few days. You can buy the ride-hailing management software or you can get it as a service (SaaS) for a monthly subscription. Go for one option that suits your business model and grow ahead!
- For a Merger
In this case, you do not have to get any license or software for your company (but driver license and vehicle license are mandatory). Instead, you can join any licensed taxi aggregators to drive for them by being a driving or non-driving partner. However, you and your business will not get any identity but only a meager commission. Still, you can earn more by merging your taxi or fleet of taxis to a well-established taxi company.
At present, the on-demand taxi market in Egypt is ripe for new startups. Besides taxi management software, you have to pay attention to patience, perseverance, and marketing in order to be a successful ride-sharing company in Egypt. If you can provide an affordable and convenient ride without compromising quality, you have a better opportunity to compete against the industry leading players like Uber and Careem.