A Beginner’s guide to start a rideshare company : How to approach rideshare app development?
Ridesharing/carpooling has become a popular option for desperate commuters in the present times due to the ever-growing traffic concerns. More and more people are slowly embracing this concept due to the ease of travel and the affordable rates which they could travel. This has propelled an entirely new market exclusively reserved for carpooling. If you are contemplating on starting your own ride-sharing company, this is the right time, as the market is still fresh and entry-level players will have a big advantage. But before you decide on starting here are some valuable suggestions.
Ride-sharing and it’s implications
Usually, ride sharing involves when the driver usually picks up more than one passenger, preferably who travel the same route for which they get compensated for the fuel shared accordingly.
On a broader perspective carpooling is an economical way of transportation as you can save up on fuel costs and transport more people simultaneously.
The following are the steps required to carpool,
- The Driver usually updates the route and places their destination point.
- Passenger searches for cab following the same route in the application
- Passenger updates his journey status and gets in touch with the driver
- Driver picks up the passenger and drops them at scheduled location
After the trip is completed, the passenger usually shares the fee along with other co-passengers. Hence the driver saves up on the fuel cost and the passenger gets to travel in a cosy cab away from the hustle and bustle of the crowded public transport.
Benefits of carpooling
- Economical option
- Saves time
- Fuel efficient
- Make new friends
Carpooling market scope and the present economy
Before investing you need to examine the present economy for variable gaps. If you have a concrete idea, you can address the key issues in your application from market observations. Looking to build a ride sharing app right from scratch based on your custom needs? Then you must try our taxi booking solution.
Following are some vital steps before you take the plunge into the ride-sharing market.
Identify your segment
The taxi booking segment has existed for a while now and is currently dominated by a number of players. However global giants such as Uber and Blablabla car have specifically targeted these niche segments and operated with greater success. Sooner or later these segments will get over exhausted, leading to saturation of the market. Therefore it’s paramount that you identify your segment and develop new strategies to attract prospective customers. It is not advisable to follow the same strategies of Uber and other prominent companies in the market as most of these will already be tried and tested models.
Classify your rides
Segregate your rides into different categories to provide a wide range of access to your customers.
Normal city trips
Cab services offered in and around the peripheral areas of the cities will be classified under this division. These will benefit commuters who travel the same route every day. People who are traveling on the same routes can take advantage of these frequently used cabs to enable a ride-sharing service. The driver who follows this routine can adapt to this idea.
This is a broad term and can include long trips such as a trip to another city or perhaps a ride which includes multiple stops. In this case, a new user will be more comfortable in choosing a specific type of ride. Either way carpooling can be integrated into this ride.
Choose wisely your business model
Establishing your business model is important and serves as a prerequisite for the formulation of market strategy. Explore different business models and finalize your own model of operation. Identification of vital elements such as key partners, resource elements, distribution channels, cost structure and revenue streams is vital to the long-term plan of your ride-sharing business.
Plan your market strategy
After finalizing your business model, and the type of carpooling service offered, you must choose a structured pattern for your marketing strategy.
- Systematic approach to Market research
The current market scenario is highly volatile and care should be taken to understand the various nuances of the market and explore the already available carpooling services. Identify the key factors which give your competitors the edge and this will help in understanding the technologies being used, which in turn can benefit you in creating something better than the existing competition.
Inducing monetary aspects in your app
When you invest your time and money in app development, it’s normal that a certain return on investment is expected. There are a few methods that are standard but less beneficial.
- Freebies – Users can subscribe to get the main basic features for free for a limited period of time. Apart from that, there can be some additional discounts such as unlimited rides for the first 24 hours.
- An App without ads – the app will be free of cost but it will be filled with advertising. However if users can afford to buy the premium version, they can block all the ads.
Basic features necessary for any ride-sharing application
- Search cabs-Search for the cab or a driver following the same route
- ID verification– One time passwords and bots to identify fake individuals and person with criminal history
- Emergency services– Since the ride is continuously monitored by GPS services, users can hit the emergency call option to connect directly to the police
- Ride tracking– If users are satisfied with the services of one particular driver, they will have the option to track the driver and also get info on the co-passengers
- User history & rating system– A special algorithm designed to provide driver and user history will help in further improvement of the services offered. The rating system allows users to screen drivers based on the respective ratings given by other users.
Carpooling is the future of easy commuting in many countries. Due to the rising CO2 emissions across the World, prominent governments are encouraging these healthy practices of commuting. Aside from the environmental concerns, this is a win-win situation for both the driver and user, as costs can be reduced and the driver can save fuel.
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