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Picking up at A and dropping off at B has been the tradition followed by most of the taxi apps. What if you can pick up X from A and Y from B, drop off X at B and Y at C? Sounds complicated, isn’t it? Actually, this emerging trend is making rides simple and easily affordable. The evolution of the taxi industry marked various landmarks. From negotiating fares to switching to meter rates was a milestone. From yellow cabs to Uber was another landmark. And now comes the switch of personal rides to ride-sharing options. 

Ride-sharing, in simpler terms, involves picking passengers heading in the same direction and dropping them down the way. This way, the traffic on roads is reduced considerably, the fuel is compensated significantly, and multiple passengers split the fare.

With each passing day, people are leaning towards these ride-sharing apps. When people are favoring this ride option, should entrepreneurs wait to develop a ride-sharing app? In this blog, let’s discuss the challenges the entrepreneurs face in providing passengers an option to share their rides. 

Let’s assess the pros and cons 

Any business has its pros and cons. A successful business has the former edging past when compared to the latter. A ride-sharing platform has numerous advantages and specific disadvantages to its name. They include, 

Pros: 

  • Value for money: The total fare is significantly reduced in a ride-sharing platform compared to conventional rides. Passengers share their fares based on the total distance. A four-seat car for a single passenger isn’t economical, is it? 
  • Time-conserving: The last thing to expect from a taxi platform is the unavailability of cabs and surge pricing. By reducing the demand for separate cabs, people can eliminate extra charges to their rides. Besides, the overall time to access the cab and reach the destination is reduced. 
  • The environmental factor: A ride-sharing platform reduces the total number of cabs on the road. This reduction leads to less traffic and less emission of greenhouse gases. Clean air to breathe isn’t too much to ask, is it? 
  • Traveling with friends: For a group of friends hanging out, this ride-sharing platform can help them split their fares, reduce their distance traveled, and enhance comfort. Besides, passengers can acquaint themselves with new friends during the journey, making the rides even more exciting. 

Cons: 

  • Dealing with multiple passengers: Not all passengers behave the same way. A peaceful journey can be disrupted with the introduction of a noisy passenger. Hence, dealing with multiple passengers becomes a need. Besides, passenger privacy is at stake, as well. 
  • Too close, yet so far: Instead of dropping off the passenger at the end of the corner, the driver can be assigned to pick up another passenger. This significantly irritates users who need to reach their destinations on time, leading to reduced customer satisfaction. 

Location and target audience can have an impact 

The region of operation and your target audience plays a crucial role in your ride-sharing app’s reception. Preferably an urban area, where cabs are on high demand during peak hours, is an ideal place to consider. Moreover, focusing on corporates who need to reach their offices on time can help gain more revenue. It entirely depends on the business owner to take these characteristics into account before investing in a ride-sharing platform. 

Devise a feasible strategy visualizing the big picture 

Investing in a business without a proper plan is pointless. It would be best if you have a clear idea about what you are going to introduce, how you are approaching the development, etc. It’s better to visualize your app on a grand scale than limiting your resources right from day 1. Devising a strategy and streamlining activities as per the plan can help you achieve the final product without any hurdles. Gaining help from freelance developers or approaching app development companies for app solutions is advisable. The latter’s Uber clone app is more flexible, reliable, and cost-effective. 

Have an eye on features for your app 

Entrepreneurs cannot ignore the role of features in their apps. Features communicate with users, guiding them to avail of services. Let’s look at some of the vital features of a ride-sharing platform here, 

  • Passenger registration and profile: Passengers can register with the app either through their email IDs or social media handles. Besides, they can edit their profiles by specifying their personalized locations, groups, etc. 
  • Advanced filtering options: One of the crucial aspects of ride-sharing apps is to let people choose their preferred ride options. From the gender of the passenger traveling with to the type of car, let the users have the last say. 
  • Real-time tracking: To avoid people waiting, integrate a real-time tracking feature to let users track their rides from the comfort of their homes. 
  • In-app passenger chat: For passengers to better know each other, incorporate an in-app chat feature, and establish a streamlined communication flow. 
  • Emergency button: To enhance the safety of passengers, an emergency button can come in handy. 
  • Multi-lingual support: To accommodate users from varied demographics, a multi-lingual support feature to let users access the app in the language of their choice becomes necessary. 

Do not forget to monetize 

The ultimate end-result of your taxi-sharing platform is to generate revenue. Some of the monetization techniques include, 

  • Commission fees: Drivers provide their services, and users avail of these services through a virtual medium. Hence, by bridging the gap between users and drivers, business owners can generate consistent commission charges. 
  • In-app advertising: By displaying third-party adverts in the app, entrepreneurs can generate advertisement charges. Generating revenue is made easy this way. 
  • Subscription plans: By rolling out a premium version of the platform with exclusive benefits, ride-sharing platforms can generate subscription charges either monthly or annually. 

Summing up, 

Ride-sharing platforms are the ones to watch out for in the near future. With an increasing need for environmental sustainability and economic rides, people are inclining towards this alternative riding option. Entrepreneurs can capitalize on this situation and establish their platform instantly.

Developing a ride-sharing app is a cakewalk, especially with the advent of clone app solutions. Business owners can reach out to app development companies, customize the Uber Clone app, and launch their app right away!

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Jennifer Atkinson

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Jennifer Atkinson

Jennifer Atkinson is a Growth hacker and business advisor. She helps the entrepreneurs and new business people in advertising their startup.

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