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The car-sharing business has seen astonishing growth in recent years. In fact, according to a report published by Allied Market Research, it is expected that this market will continue to grow at a rate of 12% per year. Car-sharing apps like HiyaCar and Turo have become the best example of quality mobile app development. In this blog, we are going to help you learn how you can use this trend and create your own P2P rental car app like HiyaCar.
Let’s learn a couple of things about the HiyaCar App
What is HiyaCar?
HiyaCar is a very popular rental car business in the UK. Accordingly, it allows car owners to rent their cars to people who need a vehicle for navigating. The renters could easily rent a car by using a mobile app. Above all, in HiyaCar’s business model car owners get car insurance and car renters also feel safe. Started in 2014, the car rental app has been able to generate £12.75 million in funding. Ultimately, we can see their efforts through quality best mobile app development company.
Car Rental App Industry
The car rental app industry has seen exceptional growth due to the emergence of digital technologies. These stats will give you a better understanding of the industry;
- It is expected that by 2024, the customer penetration might reach 0.8%
- It is predicted that by 2030, the revenue of this industry might increase at a CAGR of 21.7%
- By 2025, we might see over one million vehicles associated with a P2P car-sharing program
Choosing the Monetization Approach for Your P2P Rental Car App
Such business models are usually run by earning commissions from the renters who have to pay in order to rent a car. However, this model only works when someone is actually renting a car. Below are some monetization models you might consider before starting android app development or iOS app development;
Advertising
This model works in almost every app. Here, you have to implement banner advertising for third-party organizations. Thus, by promoting their services, you can create a constant stream of revenue.
Subscription
Your P2P rental car app can provide users with additional features and services in exchange for a subscription fee. Thus, they will need to pay occasional subscription fees to continue using your services. You can implement this model in your mobile app development process and remove the need of displaying ads.
Paid Services
In this model, the renters can take the delivery of the car to a specific place and return it to their desired location. Plus, you can start charging them an additional fee if they run out of time, distance, insurance, etc.
Services for Large Enterprises
This is a special business model in which the rental car companies provide their services to a big enterprise. In fact, you can ensure guaranteed revenue through this model. However, you have to work hard to make partnerships.
Determining the User Features
Determining the features is a very critical task in both iOS app development and Android app development. In fact, you must define dedicated features for three types of users; car owners, administrators, and renters.
Below are some features for an individual user of the app
Renter User Panel
This panel will be used by the renters who want to rent a car. Thus, it should very be responsible, fast, and user-friendly. Plus, you have to consider great levels of security standards.
- Easy Registration & Login
- Profile Management
- Search Filters
- Booking System
- Tips and Customer Support
- Robust Payment Methods
- Ratings & Reviews
- Location Tracking
- Real-Time Messaging
Car Owner Panel
This panel is meant for the car owners who will be renting their cars. Thus, they must have complete information about the car’s status, transactions, and analytics. In this way, you will be able to create confidence in your platform.
- Easy Registration
- Profile Management
- Owner Panel
- Transaction History
- Ratings & Reviews
- Real-Time Messaging
Admin Panel
This panel is meant for the admins who will be managing the entire P2P rental car app platform. Thus, you must work with a powerful backend during your mobile app development process. Hire the best mobile app developers could help to create a robust admin panel. Moreover, the admins should have complete contact with renters and owners.
- User Management Panel
- List Management Panel
- Car Management Panel
- Reservation Management
- Content Management System
- Smart Analytics
- Payment Gateway Management
Building the Team to Develop your P2P Rental Car App like HiyaCars
It is very hard to develop a mobile application on your own these days. Thus, hiring quality mobile app developers from a trustworthy mobile app development company is more cost-effective and efficient.
You will need these professionals in your app development team;
- Mobile App Developers
- Designers
- QA Analysts
- Project Managers
The Development Process
After hiring the right mobile app developers for your project, the development process will begin. During the process, you should have complete control over each and every aspect of your project. Thus, the development team should follow the Agile methodology for iOS app development and Android app development. These are some critical steps of the mobile app development process for P2P rental car apps;
- Ideation & Strategizing
- Working on the UI/UX
- Core App Development
- QA Testing
- Deployment
- Maintainance
A team of swift and expert app developers can make the process absolutely seamless and hassle-free. Thus, it would be a very sensible decision to hire a prominent mobile app development company for your project.
Cost to Develop a P2P Rental Car App Like HiyaCars
There could be a ton of factors that might determine the mobile app development cost of a P2P rental car app. Thus, it might not be possible to give an accurate estimate. It completely depends on your project type and business goals. However, usually, it takes somewhere between $10,000 to $50,000 to build a P2P Rental car app. These are some factors, which might affect the mobile app development cost;
- The ideation and market research
- The chosen technology stack
- The Chosen platform
- The complexity of the app
- List of features
- UI/UX designing
- QA and maintenance
Collaborating with MobileCoderz to Build Your P2P Rental Car App like HiyaCars
If you are planning to build a P2P rental car app, then MobileCoderz could be the best option for you. They have years of expertise in mobile app development by using the latest technologies and industry trends. Furthermore, they can provide you with the most cost-effective mobile app development solutions. You can build apps for multiple platforms with high-quality iOS app development and Android app development solutions. Plus, their project managers will also give you a competitive edge in the market.
