Knowing your potential is not enough unless you act on it. You have always known you could be an entrepreneur but hesitated, doubted your capabilities?. Do not, because India has entered the age of free enterprise, private businesses if you have not already noticed.
World Bank has predicted 11+% GDP growth rate for India in Year 2021-22 far higher than any major world economy. Is it possible without the start-ups/entrepreneurial spirit? No, it is not. So why not dismiss your fears and be a part of India’s growth story.
Have you been dreaming to get into transport/cab business. This write-up covers everything you need to know.
Ola & UBER are two mega multi-national transportation companies of the world that though provide public transport but give the benefits & feel of a private transport to its commuters. That was the main motivation for people to choose their services and they succeeded in meeting their customers basic needs - Quick, cheap, ease & round-the-clock hassle free service that was.
Business Model of Ola and Uber
The fundamental business model of these cab aggregators is simple. That is connecting commuters (customers) seeking on-demand cabs with the company’s driver-partners through a company owned mobile app.
The company earns its revenue by way of commission or fees levied on each ride hailed. (Both these taxi services can be booked through their respective websites too.). So in how many ways can one do business with UBER and Ola. In addition, what is the process from start to finish. Let us find out.
How to Start a Business with Uber?
There are three Ways to Earn With Uber Drive Business:
Driver cum owner
You have a car, are willing to attach it with Uber and you also drive your own car.
Commercial driver under partner
You do not own the car but wish to drive under the Uber platform. You get to drive a vehicle owned by an Uber non-driving partner.
Note: You can even choose to drive a commercial auto-rickshaw or motorbike/scooter if that service is available in your city.
You own the car, attach it with the Uber platform without self-driving any but have to manage at least one driver.
There you go. Choose any of the three depending upon your resources and earning needs.
Step 1. Sign up on the Uber platform through its website, by entering your basic details like name, phone no, email, city.
Step 2. If you choose first or third option from above, you’ll land up on this page
If you choose the second option, you’ll land up on this page
Step 3. Now set up your account as directed i.e. by submitting all of the above document files online. If you do not have them online, click a picture from your mobile or scan it using a cam-scanner app and upload. You can upload all the docs in the same manner. It is much easier & faster than submitting hard copies by queuing up in the office.
Step 4. To Activate your account, Bring your car to a local green light hub. These hubs are locations in a city where you must bring your car for inspection and other things. Requirements vary by city, so sign up to know.
Step 5. Once your account is set up, you can look up all the necessary information you need to know about doing business with Uber. You can even get help by contacting their phone support number.
How to Start a Business with Ola?
Three ways you can do business with Ola:
Partner with a Car
You have a car that you want to attach with Ola platform. You also drive your own car.
Register yourself in less than a minute by entering your name, phone no. and your city. Ola team will get in touch with you within 24 hours. Additionally, be ready with these basic documents.
Benefits of this plan are:
- Choose your own working hours
- Choose from 100 cities to work in
- Daily payments 365 days a year
- Get a booking on your way home
- 24/7 helpline for support
Lease a Car
You know driving and need a car to drive. Ola provides you with a car without you having to worry about maintenance and insurance. Register yourself in less than a minute by entering your name, phone no. and your city. Ola team will get in touch with you within 24 hours.
Following documents are all you require to begin driving independently with Ola.
Other benefits you will derive with this plan:
- Get a car at zero risk
- Free accidental insurance of 2 lakhs
- Zero maintenance cost
- Drive a new car of your choice
- Two paid holidays each month
- 24/7 helpline for your support
Note: If you are an auto driver, you can also attach your auto by submitting the documents, downloading the app and start to drive with Ola.
Become a fleet operator
You own a fleet of cars and you want to attach it with Ola. You just need to track & control your fleet through specialised app.
Register yourself in less than a minute by entering your name, phone no. and your city. Ola team will get in touch with you within 24 hours.
Following basic documents are required. These are also the exact same documents you will need under option one i.e. to become a ‘partner with a car’.
Benefits under this scheme:
- Get detailed reports of total earnings
- Monitor driver logins and other trip details
- Live tracking of all your drivers and cars
- Get alerts like payments, logouts, etc.
- Check your fleet’s performance anytime
- Receive 24/7 phone support
Sure you will have further queries like ‘registration charge, initial payment if any to lease a car or two drivers for a single car’ etc. For this, you just have to visit the Ola Partner Portal.
Note: You can also attach your Rickshaw or Bike with Ola. To know more, visit the above web page & send your enquiry through a quick action tab.
Things to Consider Before Starting business with Ola or Uber
There is no definite answer but there is an answer definitely that can help you decide whether to do business with either/both of them or not. Here are two Factors to consider.
You will surely get a ‘fare’ share of the rent but will you also get a ‘fair’ share? Is it profitable to attach car with Ola or Uber? To find an answer to this, you need to know the cost structure of both companies. Here’s the cost break-up if you rent a car:
According to the source site, you have to work 3-4 hours just to break even i.e. to earn enough to not make a loss. Therefore, in order to make any profit, you will need to work more than 3 hours a day.
And what if you attach your own car. You already have all the cost & pricing details, so just pick up a pen-paper and calculate your likely earnings, deducting all the costs.
This is a very crude analysis, which you can take as a starting point. However, it can certainly help you build a business/earning plan that suits your specific requirements.
Ease of operation & technological superiority
These two factors directly add to your job satisfaction. Consider each carefully. App features-wise & its daily payment feature make Ola look superior to Uber. Even though some may contest that Uber is cheaper in general.
However, according to user experiences, Ola & Uber fare differently in different cities. Hence, a ground study & research is the best approach before you decide to choose one of the two.
Both Ola & Uber have ambitious plans for the future. While Uber has a vision of becoming the top urban mobility platform, Ola is striving toward building mobility for a billion people. Whoa! Why dream small, right!
Can I do business with Ola & Uber both?
Yes, you can do Cab business with both Ola and Uber.
Are there fixed work hours or timings for Cab drivers in Ola and Uber?
No, there is no fixed time or hours of business with either Ola or Uber. You can choose when & how much you want to work.
What are future service offerings of Ola & Uber?
For Uber few of the future business offerings could be electric scooters, bike-sharing & autonomous (driver-less) vehicles. Apart from its wide range of cab booking services, Ola plans to launch its own line of electric scooters via its ‘Ola electric mobility’ subsidiary.
Is putting the car in Ola profitable?
You can easily profit over Rs. 15,000 a month by giving car to Ola.
What percentage does Ola/uber take?
Both Ola and Uber take 25–40% of the amount as their commission.
How profitable is Uber business for drivers?
A driver can earn up to 35/40k a week.