The concept of ridesharing is very appreciated because of its fare structure and control on fuel consumption. Hence, many Ridesharing apps like Grab, BlaBlacar, Lyft, etc. are most popular in the youth nowadays, which provides the best experience to the users.
Ridesharing is becoming a great startup idea. As a result, the biggest rideshare app company, Grab as well as the on-demand taxi company, Uber jumped into this lucrative idea of ride sharing years before anyone else thought about it. Since then, the rideshare market has only seen rapid growth in users.
This blog is for all the aspiring entrepreneurs and startups who want to start their own ride-sharing company with a Mobile app. So, we cover here the foolproof rideshare business plan to create your own rideshare app.
But before we dive deep, here’s a 101 lesson on what is Ridesharing business model with the complete ride description.
What is Ridesharing App?
First, let us learn how Ride-Sharing private cab booking service is different from normal taxi service.
A Ridesharing mobile app idea has many small differences compared to a normal taxi service, but the key difference would be that a ridesharing app would let you host a ride.
Simply said, unlike normal taxi apps that only gives a private ride option, with a ride-sharing app like Uber or Grab, you can find fellow riders. So, the people who are heading to the same destination or somewhere along your route and can share a ride with you by splitting the taxi fare.
Best Apps for Rideshare Drivers & Passengers
Grab
Lyft
Uber
Gett
Juno
Curb
New Comers in Ridesharing Market (Uber like Apps)
Wingz
BlaBlacar
Bridj
Arro
Flywheel
How Ride-Sharing App Works?
A Ride-Sharing Taxi App has 6 Steps of Working
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How to Make A Rideshare App?
If your mind is flooded with these kinds of questions, then, you are on the right track.
The Ridesharing service can be financially beneficial for customers as well as immensely profitable for the drivers; and the most profiting stakeholder is the admin (you, the business owner) that makes the commission cuts from each ride.
There are many factors to consider before creating a Ridesharing app like Uber.
Here’s the 3 step plan you need to follow:
1. Research the Top Rideshare App
Know your Competition
Visit their local website and check for customer reviews. Most importantly, you will get the best tips from the reviews of the customers. In addition, focus more on how your ridesharing Services business will solve the problems that riders are facing with other such taxi business startups.
Find Your Target Customer
For instance, if you decide to make a Ridesharing app for Beverly Hills, you are doomed to fail as people in such posh areas will not even book a personal cab, let alone book your a rideshare service.
But, at the same time if you start carpooling and ridesharing service business in the busy streets of New York or London, you will get many fold success in your venture.
The reason is the majority of people who are willing to split taxi fare to save money. So, you need to find the perfect city to start your carpooling and ride sharing business. This is why you need to find places where people are using such services.
2. Execution
Next comes the execution part:
Offline Execution
There are many permits and licenses needed before starting a ridesharing cab app business.
Next, you need to start buying inventory.
This would include the cars that you would use as cabs (you can lease cars if buying is beyond your initial budget). Subsequently, staff would include the drivers and office staff (if and when you expand your business beyond a one-person handling capacity).
Online execution
Here is a list of features needed for the passenger app, the driver app, and the admin dashboard.
Must Have Features for a Rideshare App
Passenger App Features
- Registration: Log-in/Sign-up
- Filter Car comfort & Ride Fare
- Car share preferences & car details
- Special rides for Airport and ladies
- Email & Facebook login
- Multi-Language Support
- Multi-Currency Support
- GEO Location Feature
- Broadcast a Ride
- Book a seat for Broadcasted Ride
- Ride Fare Calculator
- Panic Button
- Internal Messaging System
- Reviews & Rating
- View Ride booking as a Driver & Passenger
- Manage (i.e., Edit, Delete, Duplicate) offered rides
- Email & SMS notifications Management
- Social Sharing
- Customer Support
- Auto Price Suggestion
Driver App Features
- Google Map Integration
- Driver Verification
- Reviews & Rating
- Driver Support
- In-App Report
- Push Notification
- Ride Log
- Multi-Language Support
- Multi-Currency Support
- Digital Invoice
- Panic Button
Admin Dashboard Features
- User-Friendly Dashboard
- Manage Admin Users
- View Rides Postings
- View Bookings & Print Invoice
- Pay to drivers (i.e., Disbursement)
- View Chat between Passengers & Drivers
- Website Management & Settings
- Site Banner Management
- Manage Car Makes and models
- Wide Range of Reports
- Manage Email Templates
- Manage multiple language’s labels
- Easy Content Management System
- Manage Currency Rates
A Quick Look Into The On-Demand Business Model
3. Innovation
Hence, you need to keep updating your mobile app and your business model to new variables and possibilities. In other words, this is the only way to withstand competition and stay on top of the market.
Who can start a rideshare company
Schools & Colleges: Schools can start their own ridesharing system for students and teachers using turn-key carpooling app solutions.
Companies & Enterprises: By employing a rideshare app for employees of the company they can increase the efficiency of the employees.
Entrepreneurs and Startups: Startups can invest in peer to peer rideshare app platform to provide mobility solution.
Taxi Business: Transportation business and intracity travel can be facilitated by introducing a ridesharing app.
What are the Pros & Cons of a Ride Sharing App ?
Creating a rideshare app is a newer concept compared to traditional taxi services. However, this transport model has quickly become prolific as well as famous.
Here we have described the advantages and disadvantages of rideshare app:
Advantages of ridesharing
- Travelling becomes faster
- Cheaper due to the splitting of travel fare
- Can plan rides in advance
- Payment becomes easy and convenient through the app
Disadvantage of ridesharing
- You might not find rides at every location
- Routes may vary sometimes, so occasionally you will have to walk to drop or pick up location
Cost of Building a Ridesharing App
The actual question you should ask is how long does it take to develop an app like Uber? In other words, the length of the project will give you a better estimation of the cost to create a ride sharing app.
The project timeline depends on what type of features you want in your ridesharing app. So, features like Push notification, Geolocation, Navigation, Admin Panel, Driver Interface, Ride fare estimation, etc. matter while deciding the cost of building a ride-sharing app.
Now, let’s take a deeper look at what drives the cost factor to develop a ride-sharing app.
Ride Sharing App Development Platform
If you go for Native app development, then you need to decide between Android and iOS. Likewise, you can go for both the platforms, but this would almost double the cost of ride sharing app development as now you would be building a ride-sharing app for both platforms.
Build Your Ride Sharing App
Do you want to make your start-up stand out in the competitive market?
To create your own rideshare app, you need to become a master in specific trade instead of trying to be the jack of all. You can become the next master of the ridesharing industry if you have the right mind, tools, and (most importantly) team for it.
