Don’t you agree that the twenty-first century is all about witnessing the changes by an innovative technology called the Internet?

Two decades into this century, we are witnessing individuals and even businesses accepting this innovation. Also, more than just accepting, they are embracing the same in their offerings. One such inventive offering is online taxi booking or online ridesharing apps.

These are the online platforms through which a user(s) can book a taxi based on their time preference. They can even pay online or offline. If you or your interest belongs to San Francisco, then there’s one company that must have surely come to your mind.

Introduction Of Lyft

Founded in 2012 as a ridesharing app, today Lyft provides multiple services. This includes taxi booking, offering vehicles for hire, motorized scooters, bicycle-sharing, and even food delivery.

The company’s journey is a testament that through online mediums, organizations can tap unlimited opportunities. This is why many established and also aspirants of taxi businesses are looking forward to building an app like Lyft.

So now you’ll be tempted to know about things to include in your Lyft-like taxi app. But if by any chance you aren’t, then below we have some important statistics regarding Lyft and the on-demand taxi business.

  • Revenue in the Ride-Hailing & Taxi segment is projected to reach US$260,159m in 2021. Revenue is expected to show an annual growth rate (CAGR 2021-2025) of 10.36%, resulting in a projected market volume of US$385,942m by 2025.
  • The average revenue per user (ARPU) is expected to amount to US$176.45.
  • As of September 2020, Lyft is the second-largest ridesharing service provider in the U.S. behind Uber Technologies, accounting for 31% of the market. As of January 2019, Lyft had recorded a whopping 65 million app downloads.
  • Lyft drivers make on average $12.53 per ride. It has over 1.4 million drivers, of which more than 90% are rated 5-star by passengers.
  • Lyft operates in 644 cities in the United States and Puerto Rico. 50% of Lyft customers use the service more than they use their own cars.

Best Ridesharing Apps Stand On Four Pillars

E-commerce platforms, mainly business apps, require different segments (or panels) for smooth maintenance and use by different stakeholders. So can you guess who all use a taxi or ridesharing app?

Users, drivers, & company, right!

Here, won’t the company require two different segments. One for managing operations and one for monitoring overall business activities. So below are the four pillars of an on-demand taxi business app.

Passenger Panel

This is what users generally install from the app stores. Almost every online taxi app follows the same process. That is: login, scroll, schedule, choose a payment gateway, and confirm the booking. In this, the passengers can even review the ride, vehicle, and driver post the ride. They can even share the overall experience with the company or app through this panel.

Driver Panel

Obviously, your affiliated driver will require a dedicated app panel for getting notified regarding booking, accepting/rejecting the same, addressing grievances, managing their earnings, keeping a record, and more. Initially, riders were given a separate link for installing this panel. But today, with advancements in in-app technology, an individual can just complete a process through the app and unlock the rider mode. This is as simple as it can get to become an affiliated driver in a taxi business app.

Dispatcher Panel

This is the virtual operational floor of the company. Here bookings & schedules are managed, riders & users are given support, their activities concerning the app are monitored, accounting aspects are taken care of, and more. With this, along with affiliated riders, you even digitize the company work for all employees. Also, this panel has more focus on operation management, accounting, and recording. Hence, making it easy to manage your online taxi business.

Admin Panel

Every business needs a monitoring body, and that’s where senior-most employees and managers are found. This is why there’s an option of making this panel a multi-user or single user. It also provides the option of adding/removing admins while even limiting their access to required data segments. The data segments include daily work reports, different executive reports, and more. Also, along with monitoring, this panel even allows for minor changes or updates throughout your taxi app.

SEE ALSO: How to Make a Rideshare App

Must To Include Features In Your Lyft Rider App

Above, you read about different panels that make a Lyft rider app a whole. But here, we will be talking about different features that might make your app stand out or ensure that users don’t get an alienated feel.

SMS/Text & Push Notifications

Today almost every app has SMS/Text or push notifications. The reason is simple. Users are habituated with acting instantly when they get a push notification. While text messages ensure that a particular booking or payment receipt is stored. Along with this, texts even help in keeping certain information offline. On the other hand, these even help riders when they need to share minor messages. SMS or push notifications in the taxi app will make it easier than call.

In-App Communication

Consider this as an extended version of the last point we discussed above. In-app communication is important between rider and passenger, as this allows the necessary dialogue of availing the services. This includes, but is not limited to:

  • Location Sharing
  • Booking request changes or instructions
  • Notifying the arrival or departure of the driver
  • Checking vehicle specifications with the driver
  • Notifying if a minor change in location or time, and more.

The inter-app communications between driver and messenger panels are very important for ensuring a seamless experience.

Creating Unique Profiles

We live in an era of personalization and modernization. Users keep looking to add their own identity even in ridesharing apps. You can ensure this by enabling them to create profiles. Give them the option of adding their photos, experience with apps, some related information, online avatars, and more. Keep them amazed and longing for creativity and innovation. This feature is more of a marketing trick. But you can also make this an operational benefit by adding transaction history, ride history, and more. This point is applicable for riders as well as users.

So we have discovered the four main panels and few must-have innovative features, along with it today it’s common knowledge that an online taxi booking app works and the basic features of it. So now, let’s talk about the most important aspect of developing an app like Lyft.

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Cost Estimate Of Creating A Taxi App Like Lyft

The cost of app development is among the most direct factors to influence business decisions. While looking for developing an app like Lyft cost estimate, you also need to consider the factors that can affect the same, they are:

  • Level of technology involved
  • Scale of app you are targeting
  • Different set of functions planned
  • Overall vision of apps
  • Chosen technology partner

The cost of app development is highly variable upon the technology partner you chose. That’s why we feel it best to share the approximate cost of custom app development for an online taxi app through us rather than the industry average. The industry average isn’t always true for app companies. The cost of developing a Lyft rider app is highly variable, so below is our average cost.

Scale Of the App Native Technology Cross Platform Technology
Small $30000-$35000 $20000-$25000
Medium $55000-$60000 $40000-$45000
Large $85000-$90000 $60000-$65000

We again repeat that these are our average costs. They have proven to be competitive and affordable as per average app development costs in the industry. Still, for the accurate cost of developing an app like Lyft, you’ll have to contact us. Share your idea and vision for the app with our executive. Discuss features to be included, and we will provide you the best proposal.

The proposal will have all the cost information, total cost, and bifurcation of the same.

Final Words

If you are looking forward to developing your own Lyft-like app or still pondering over it, feel free to connect with us. App development is a vast and growing field, and every piece of advice or information counts. We wish you success in your journey of developing your own online taxi or ridesharing app.