Driving the Future: OLA Business Analysis

Hola! Can you think of a better cab service start up which makes around 1.5 million rides per day? Or has 15 lakh registered drivers? Whose cabs have  covered an average distance of 43,40,717 kms that is 10 times the distance between the earth and moon.

Still wondering ? It’s Ola that we are talking about. Let’s face it, don’t we all have either of Ola or Uber as our backup when the other fails to meet our waiting time and fare needs? But Ola doesn’t seem to disappoint us as much, does it? because of its 24/7 availability, comparatively lower surge charges and hassle free advantage, you never had an Ola driver deny you their service to you, did they?

Ola has become one of the household travel application when it comes to commuting even the slightest of distances and to know that besides providing a platform for commuters it also gives you immense opportunity to start a business and get associated with it. So, here’s something about Ola and how to do business with Ola cabs. Trust us, this is all you were looking for.

Ola cab is an Indian ride-sharing company which helps the commuters commute from one place to another by hailing a cab, auto or even bike for that sort.

Facts about Ola

Founded : 3rd December
Founder  : Bhavish Aggarwal, Ankit Bhati
Headquarters  : Mumbai
Revenue : ₹2222 crores ( 2018 )

Business with Ola cabs

To begin with let’s see the services which Ola cabs has made available for its consumers on the basis of which you can choose the types of business you need to get into through Ola. Riding services made available by Ola to its customers. On the basis of cars made available.

VEHICLE PASSENGERS

1.   Ola auto 4
2.   Ola bike 1
3.   Ola executive 4
4.   Ola lux 4
5.   Ola micro 3
6.   Ola mini 4
7.   Ola prime play 4
8.   Ola prime sedan 4
9.   Ola prime SUV 6
10. Ola share 2

Read More : How to Start Business with Uber cabs ?

Services made available

Ola city taxi : To meet with the everyday in-city travel and commute needs.

Ola outstation taxi service  :To ride out of town at affordable one-way and round trip fares with ola’s intercity travel service.

Ola rental : Get a cab at your disposal ranging from 1hour-12hours depending on your errands and purpose.

Ola select : A membership with Ola that helps you ride a prime sedan at mini fares, no peak prices and zero waiting time.

In cab entertainment : Play music, watch shows, movies with Ola play with free wifi as well.

Business options made available by Ola for its customers

Basic requirements

Become a fleet partner: You can become a fleet partner by attaching your multiple cars or your company’s car.

You either appoint drivers by yourself or Ola could assist you in finding them when you want your car to be used during your vacant hours for some extra income.

• You can attach multiple cars and earn more than you will if you are a driver cum owner

• You can check your fleet’s performance any time

• You can monitor your driver’s logins and other ride details

• You can have two driver for one car

• You can get detailed reports of total earnings

Attaching your car: You can attach you car with Ola, get it modified according to rider requirements and drive the car around as a part time or full time business

• You can choose your own working hours

• Get regular payments for 365 days

• All your outstanding payments at the end of the day are transferred to your bank account within another 2 working days

• You can get your car ready to be operated under Ola within 2 hours

Steps for registration:

• Documents verification

• Car and driver audit to meet our standards

• Driver Training

• Contract signing and driver handling

Become a driver: You can become a full time Ola driver by leasing or renting a cab through Ola fleet partners.

You can driver a new car of your own choice with two paid holidays each month. You can get a free accidental insurance of 2 lakh.

• You have to pay ₹4000 as non refundable charge and ₹21000-₹31000 as refundable security deposit based on the type of car you are leasing

• You have to pay a daily rental amount of ₹700-₹1500 depending on the car model and city

• You car will be registered under the company’s name- Ola fleet technology.

Additional requirements

• Valid Commercial Driver’s License ( yellow badge )
• PAN Card
• Aadhar Card
• Current and permanent home address
• Four references
• Bonus paid my Ola

Upon completing one ride, Ola takes 15%-20% commission from the total bill’s amount deducted by Ola itself

Read More : How To Start Tyre Shredding Business ?

Bonuses

• When you get 5 bookings with minimum peak bookings of 5, you’ll get ₹1700 MBG.

• When you get 7 bookings with minimum peak booking of 7, you’ll get ₹2400 MBG.

• When you get 10 bookings with minimum peak bookings of 0, you’ll get ₹2900 MBG.

• When you get 13 bookings with minimum peak bookings of 0, you’ll get ₹3900 MBG.

• When you get 16 bookings with minimum peak bookings of 0, you’ll get ₹4900 MBG.

• When you get 18+ bookings with minimum peak bookings of 0, you’ll get ₹6400 MBG.

Suggestions

To take the advantage of this opportunity is as easy as booking an Ola and let’s you get in on a long drive too, let’s see how

• Irrespective of the business options, Ola’s assistance to its partner and employees and financial incentives are more appealing than any other cab service.

• Secondly, you get to be a part of that cab service which provides 1.5 billion rides annually.

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