I have an idea of creating a travel app which helps travellers to search and book various travel related stuffs like booking hotels, flights,bus,cabs, do webcheckin,city guide etc on a single app. My idea is to integrate my app with other service providers and to list the option in my app from which the customer can choose the best offer. Even though there are big players like makemy trip, goibibo, cleartrip currently offering such services on their respective platform, will there be a scope for a one more metasearch travel app just like ixigo to come in the market.
I think that avoiding this market because of competition is short sighted, It just means you need to be more creative. I'm doing the same thing, have been for a year, and my secret to success has been focusing on a single geographic destination. I work in Cartagena, Colombia which is a hot new travel destination and while there are other 800 lbs gorillas who I compete with, they target the whole planet and NONE of them compare with me on local content, local context, local quality for travel to MY destination. Maybe I can grow from there, but I'm having success locally.
I'd be happy to collaborate with anyone in this space by trading some of my software and ideas for your geography (so long as it's not Colombia) in exchange for you contributing software development to my platform. If you want to help me, let me know. You can start by looking at Jetsemani.com.
Tom Herman (co-founder)
Niche is the key here !!!
Opposed to popular contention where people are saying there is or always room for innovation. It holds true but only if you are at a scale with which your Innovation can compete with those who are dominant or rising stars at the current market demographic, since ideas are ever blooming and people with capital can always add (implement) the features more efficiently and rapidly than a normal startup entrepreneur might think of introducing.
Considering the same I would not suggest you the "Karlo duniya mutthi mein" Attitude at the very start. I would rather advice to volunteer and meet people, who can help you. For any startup you need people from all paradigms including broadly Finance, Technical, Co-space or infrastructural, Operational and specially Business strategy and you being the driving force with your niche idea and inputs !!!
You can and will always find like minded people (the more you discover) who already have most of the resources (technical, strategy, collaborative ideas, existing parallel pilots or local entrepreneurs in other parts of the globe on the same theme or ideas that you might/will need).
You should only focus on the specific niche value addition that you can bring to the table rather
than going on all at one go. Think as a co-founder rather than a founder especially in the industry at segment you are targeting.
And every one once of all thinks of "this could have been this way" or " this is missing" moment. What you might actually want to focus on is creating an entirely/substantially differentiating experience or what they call it in entrepreneurial language "A Product" or "A Package" which is peculiar enough and not just different.
Always remember hacks and one off insights can always be poached upon by the existing player with you being able to do little to nothing at times.
So first make the outline of your product and try to make it not just different but unique. As I could see many people have already done or are executing similar projects elsewhere (Like that person in Columbia).
Get the product identified first, then the right people and then go all ahead with your success.
Although they say there is no short cut or formula to success, It's always better to be prepared and equipped rather than to go all out and face things when they have already hit us.
i have a similar idea, but with more features which can be value additions. Even though there are big players in the market, I don’t think that our travel industry is well flourished that a person can travel without caring about anything and without much worrying or planning the next stage of his journey.
I agree with the concept that just because there are many competitors you should not abandon a space you may have depth of understanding. You should do significant research with real travelers prior to building the app. Using the Bezos yardstick, find out what will not change in the next ten years as your foundation. Also, you may want to differentiate between casual travelers, business travelers, and adventure travelers. All three have a different friction they would like to resolve. I am a frequent business traveler, an occasional adventure traveler, and a rare casual traveler. In each of my traveler "identities" different issues are of concern. When i travel on business, I care less about price as I do about location. As an adventure traveler, I care less about online check in as I do about local amenities. As a casual traveler, I care a little about convenience, but most about price. Define each audience well before you start. While you may want all three, start with one and plan for the others. This is about marketing strategy, not about technology.
Marketing and customer acquisition costs in this sector have become enormous. The differentiating factor would be value addition to user and it's perceived value to the target market. Attracting vendors/service providers on a revenue based or commission based model will be another big challenge. I see scope in a niche product for a niche customer market which is currently underserved. There are several challenges that customers face in the ultra luxury, luxury and economy sector. There are different problems for each of these customer classes and therefore identifying and understanding of respective classes becomes crucial. ey can only be solved independently. I'm currently working on something in the economy traveller's space. Would be happy to discuss further.
Just be aware that you're stepping into what might be one of the most competitive spaces. There are probably 20 different billionaires worldwide who have equity in the travel space (Diller, Zuckerberg, Ma, Branson, Bezos, to name a few) and it's a tech heavy area, so these companies can recognize what might be a big differentiator for you, copy it immediately, and roll it out worldwide days or weeks after you launch your app. Remember, they have not only the ability to recreate your ideas, but scale up massively on an IT infrastructure that is already in place.
Tread carefully, would be my advice.
Biggest challenge with an app that does everything, is that it becomes difficult to get the value proposition across. Stating "this app does everything" will not help. I would recommend to pick one of the big problems that your app would solve and make that successvol and once it does and has traction you can introduce another problem solver in the app. Another advantage of this way of working is that you can go to market quicker and the investment is lower.
And one last thing....do not ask others if you have a good idea. If people think you are crazy but you think it is a good idea fo for it. Only paying or enganging customers/users will be able to tell if your idea is any good.
I believe there's room for everyone in this world, if your app could solve people's issues that other apps can't...