For far too long now, the whole concept of ride sharing has been shrouded in mystery. While one section of the population believes that ride sharing is just a convenient energy saving mode of transportation, the others believe it is a capitalist’s take on enjoying an income even while trying to get to places where you’d ordinarily be going.
The scope of Ride Sharing, especially in the USA is much more than a simple means of transportation. It is a full fledged business that has the ability to make people millionaires within a year. So, without further ado, let us get into understanding the dynamics of a Ride Sharing business in the USA.
What is the fundamental concept of Ride Sharing? How practical is it?
To start off, ride sharing is not a novel concept. People have been relying on car pooling and ride sharing since time immemorial. Whether it is in the form of hitching a ride from someone at the university or taking a lift from someone on the highway, the idea has always been there, but with the help of modern smart phones and mobile apps, we have now made it possible to ‘certainize’ (for the lack of a better word) this uncertain and unorganized system of getting rides.
The on demand ride sharing app becomes a platform for people to offer rides and request rides at the same time. Let us try to understand this with the help of an example.
So, right at the beginning, we have to understand that these apps may well be similar to taxi apps but aren’t really exactly the same. Instead of professional taxi drivers making their taxis available for rides, this app will help regular car drivers to monetize their journeys while helping others.
So, anyone with a car basically can register into the app, put in the make and model of their car and turn their availability to ‘ON”. Once someone who is interested to go a certain route looks for a ride on their app, they will be able to see you and your fares. They can then select your car based on their requirement and viola! You just found yourself a passenger.
But this is not where it stops. Instead of blocking your car from the app the moment you find your passenger, the app allows you to continue to stay available until all the seats that you are offering are taken. Now, it is your choice whether you want to wait for the seats to fill in, or start off and continue to get rides while you are on route.
From the practicality point of view, this app is quite frankly a miracle. 90% of people travel the same route (either to or from their colleges, universities or offices) almost every weekday. With the help of this kind of an app, people who take the journey everyday can ensure that they can not only save gas money, but also end up making some money for their troubles of driving others.
How can you set up a similar business for yourself?
There are two ways to go about this. You can either build an app from scratch but that is a perilous path. There are many tests to be conducted to ensure that the flow of the app is seamless, the way that it works is easy for all parties involved and that the monetization bit is actually possible that it might make most sense to purchase a ready made app.
However, this too is not a very easy route to follow. Essentially, the ride sharing business has grown to become extremely popular in the United States. People have been able to identify the financial comfort and the other conveniences that this app bestows. App development companies globally have been quick to pick up the trail and build such apps.
However, the process of selecting the right app amidst the multiple options available can be a cumbersome chore. There is however a simple way for you to determine what works best for you. Take a look:
- Identify your exact requirement: Each business endeavor has a unique set of requirements. Based on where you wish to launch your business, is it the university crowd or a general public place kind of crowd that will be using your app and so on and so forth. Once you have the details for this, it will be easier for you to find the right app for your business.
- What’s your budget: Let’s not kid anyone. The sole purpose of getting into business is to make money. Being able to help the environment is a big bonus, but no one is taking in losses to contribute to a lower carbon footprint. This is why; you have to first set aside a budget for yourself. Once you know exactly how much you want to spend, you will find that you have limited your options to a large extent.
- What is the timeline within which you wish to launch your app: Timing is everything in the cut throat market today. Ride sharing is a popular business and while the United States has not yet reached saturation, you will still benefit from entering the market as soon as possible.
Answers to these questions will help you determine which app is most suitable for you. However, statistics indicate that the most profitable business based on Ride Sharing apps stems from on demand ride sharing apps built by a reliable White Label On Demand Mobile App Development Company.