One of the top revolutionary businesses, a concept, known as the “sharing economy” has taken the market by storm. While several companies have implemented their policies on this trend, Uber has proved to be the king in this regard. Uber is the first ride-sharing company that empowers you to earn money by driving a vehicle. Also, by providing the opportunity to passengers to avail of a ride on economical rates. The amount of victory Uber has been able to achieve in the short history is fabulous and outstanding.
The recent decade has proved the Uber Car Rental to be the highest valued private company to emerge in the world. Its igniting growth and continuous controversial business along with its technology have gained a substantial amount of popularity.
Uber Founders and Statistics:
The founders of Uber are “Travis Kalanick” and “Garett Camp” whereas the company’s valuation is over £54 Billion. The number of users is above 50 Million whereas the number of registered drivers is approximately 10 Million. The company’s headquarters are in San Francisco, California, United States.
The PESTLE Analysis for Uber:
The political, economic, social, technological, legal and environmental factors for any business are covered in a PESTLE analysis. While discussing Uber, its PESTLE analysis is given below:
Political Factors: When Uber started its journey in 2009, there was no other ride-sharing application. So, being the first of its kind, the legislation or regulations of such company was absent.
Following questions were needed to be answered for this new company:
- Who is responsible in the case of a car accident?
- Is it mandatory for an Uber driver to own a license?
- Can ride-sharing business of Uber list all of its drivers as contractors and not regular or permanent employees.
- Does the company has to fulfill the minimum wage requirements?
While some governments accepted the modern model of the company while others did not approve it. As a result, Uber has been banned in many cities like London and countries like Germany.
Economic Factors: The economic factors affecting business show a wide range. These factors entail macroeconomic climate, rates of inflation, interest, and currency exchange as well as unemployment rates. Additionally, more factors affect the business like the cost of labor and tax rates, etc.
If you are choosing a career as an Uber driver, you are on the right path. There are so many points for you that help you and elaborate you about the economic benefits of using Uber car renting services. If we look at the economic factor of Uber drivers, the first thing is to get the car. You don’t need to buy a car. You can rent a car or use it as an Uber.
Social Factors: When we talk about the social benefits of using Uber as a career, the first and most important benefit is that you can get more social that help you more in your career. Some customers become direct and they also contact you when they need a ride. The most difficult part is to get more and more riders on a daily basis. But when you run up on the Uber career, you can easily get more rides.
All the customers of Uber Car Rental enjoy the benefits of its services comprehensively. Having just a smartphone is enough and you can choose a pick-up time and appointment with an Uber driver. As the customers enjoyed Uber ride with comfort and ease they posted it on social media enhancing the popularity. With a better accessibility platform, more people readily are choosing Uber services making it a huge success.
Technological Factors: One of the best technological benefits of using Uber is that, after completing the ride, people give you 5 stars. After getting the 5 starts it will keep your profile at the top of the list, and you will get more bonuses from the company.
Social media has proved to be an explosive tool for Uber’s popularity. People shared their success stories and encouraged other people to use the same service. Whereas Uber cannot function properly if the app suffers any kind of difficulty or hindrance in its operation. Many drivers use 4G networks to connect to the app which is deemed critical for their jobs.
Legal Factors: Traditional taxi drivers have to purchase expensive licenses for their exclusive rights to drive. But Uber considers its drivers as contractors and not regular employees which is a huge risk in case of any mishap. Uber is reported to be banned in many countries that are Belgium, France, Italy, Spain, and Germany. The reason is its unique business model with contractors drivers.
Environmental Factors: Many people use Uber transport instead of public transport. So a few analytics think that Uber has increased the congestion rate and fuel usage. But in reality, it is not true and Uber does not affect the environment adversely as such.
The above article helps you understand the PESTLE analysis scrupulously. In case you wish to know more in this regard you can check Pace Hire and gain knowledge about PCO cars.