How to launch a profitable ride sharing app and achieve success?

If there’s one way for people to strike the chord between economy and safety, it is invariably carpooling. The COVID-19 has emphasized the need for social distancing among the audience. Although the people’s pendulum has swung towards safety, the economy remains a top concern. With people preferring private modes of transportation, what if there’s a way to reduce their total fare by sharing rides with those heading towards the same destination? 

This situation can be ground-breaking for a ride-sharing app, provided the platform ensures affordability and safety consistently. Platforms like Bla Bla Car, Careem, etc., have resumed operations after the gloomy COVID-19 phase. 

Are you an entrepreneur aiming to launch a profitable ride-sharing app? If so, are you aware of the different characteristics that can promise unparalleled success? This blog discusses some of the top players in the segment, the benefits of ride-sharing apps, and the income-generating sources worth-integrating into your application. 

Popular apps that have made a mark 

Before venturing into any sector, it is ideal to analyze the market conditions and competitors. By analyzing competitors, you get to know areas of improvement, steering your platform towards success. 

  • Bla Bla Car: This France-based ride-sharing app has expanded its operations to more than 22 countries. The platform connects passengers who are willing to share the cost of their rides. Housing a massive 70 million users in 2019, Bla Bla Car receives 20% of the driver fees as commissions.

  • Lyft: Lauded as the largest ridesharing company after Uber in the US, Lyft has been a significant player since its inception in 2012. Operating in over 644 cities in the US, Lyft’s ride-sharing division is a major buzz among Americans even today.

  • Careem: With over a $2 billion valuation in 2018, Careem has established a firm position in the Middle East, Africa, and the Southeast Asian markets. The platform allows users to book a single seat and match them with drivers in the vicinity.

  • Uber: Considered as the pioneer of the ride-hailing division, Uber has forayed and has gained massive success in the ride-sharing division as well. Completing an annual trip of almost 7 billion in 2019, Uber’s ride-sharing division has been the ‘go-to’ destination for those who wish to conserve their economy significantly. 

Exclusive benefits of carpooling 

Ride-sharing apps come with enticing benefits for the entire ecosystem, be it passengers, drivers, or the platform owner. Here are some lucrative advantages of carpooling apps. 

  • Budget-friendly: Instead of paying for the entire ride single-handedly, passengers can split fares with co-passengers who head towards the same destination or direction, thereby conserving their ride budget.

  • Time-conserving: People find it challenging to avail cabs, especially during peak hours. By availing of ride-sharing options, they needn’t wait for extensive time duration as they are matched with passengers who have similar destinations or routes.

  • Traffic reduction: Carpooling options leads to a reduction in the number of taxis as people can share rides. This way, the traffic in a particular locality gets reduced significantly, thereby conserving time to reach destinations.

  • Reduction in pollution: Fewer cars on the road inevitably lead to a decrease in traffic and lowered pollution levels. This way, ride-sharing apps pave the way for environmentally-friendly modes of transportation as well. 

Features that shape up a ride-sharing app 

On any given day, features create an instant visual appeal among the audience. Besides, features can act as your USPs, enabling you to captivate the passengers towards your platform. Ride-sharing applications can be easily developed with the help of ready-made app solutions like Uber clone. Here’s the list of stand-apart features to consider in your Uber clone app

  • Real-time matching: Ensure that your taxi platform has an efficient algorithm to match passengers in real-time. This way, both drivers and passengers get instant, consistent rides.

  • Advanced scheduling: Enable passengers to avoid last-minute hassles by booking their rides well-in-advance. This way, passengers can enjoy their rides seamlessly at the specified time, eliminating surge pricing as well.

  • Fare calculator: Passengers should have the option of knowing the exact fare along with its detailed breakup. This way, passengers can choose their best-suited cab for their journey.

  • SOS Button: The app must have an emergency button for passengers to alert the support team during unforeseen circumstances.

  • In-app wallet: Enable passengers to pay for their rides instantly via e-wallets. This way, they needn’t enter their account/bank details every time for ride payments.

  • Multilingual support: Establish a global presence and cater to your local audience concurrently by integrating a multilingual support feature. This way, app users can access the platform in the language of their choice.

  • Book for others: With the book for others feature, users can book taxi rides for their friends and family, paving the way for maximum satisfaction. 

Revenue models to integrate into your application 

At the end of the day, any successful entrepreneur benefits the intended audience and reaps profits from the business. Here are some income-generating sources to consider in your taxi application. 

  • Commissions from drivers: Drivers give up a fixed percentage of their payments after every ride as commissions to the platform owner.

  • Subscription charges from customers: Customers who prefer to enjoy premium benefits like avoiding surge pricing or availing exclusive discounts can do so by paying the subscription charges either monthly or annually.

  • The in-app ad charges: Display third-party ads from leading brands. This way, you can levy ad charges to brand owners based on the ad views, impressions, clicks, etc. 

Addressing the COVID-19 issue 

Safeguarding your entire community is pivotal in sustaining in the highly competitive market space. Here’s a list of COVID-19 safety add-ons to integrate into your on-demand taxi application. 

  • Restricting the passenger count to two or three 
  • Face mask recognition software 
  • Safety ratings and reviews 
  • Ride cancellation based on the situation 
  • Safety checklist before rides 

Conclusion 

It is only a matter of time until the taxi market will regain its feet in no time as new players are emerging into the sector, just like the pre-COVID-19 era. You can transform your visions of launching a successful ride-hailing app by reaching out to an expert app development company. Share them with your visions, and scale your taxi business in no time.