Ridesharing is a part of the growing sharing economy, refers to peer-to-peer-based sharing of ride services.
RideMenu is a new app concept working as an online marketplace for zonal pre-priced ride services.
RideMenu can also be used for taxi -and courier services
The market for ridesharing is huge and growing, but characterized by a few actors offering similar solutions. Uber, Lyft and Hailo’s apps are very similar, regards to functionality
In most cities there`s a “buyer’s market” and an abundance of ride providers.
The drivers uses several apps and pick orders, no matter which app that conveys them
The market is fully open to launch new ridesharing apps.
If the customers prefer an app, the drivers will follow.
A new, different and more customer friendly app, like RideMenu, has a huge potential to take a fair piece of the ridesharing market
The RideMenu app
A digital map menu, with fixed prices for rides, from the users GPS-address -to all areas.
The price tags are dynamic and automatically updates to the users addresss (GPS base).
One single click on a chosen pre-priced area, to order a door to door ride.
For most users «My places» will be more actual in daily life than the map image. In «My places» the user have saved fixed destinations like «Home» «Work» «Down Town» friends and so on… The price tags attached to the list are also dynamic and continuosly updates to the users current GPS-base, just like the price tags in the zone map.
RideMenu – a new rideshare/taxi app concept
The GPS specifies the pick up address. Destination and price is sealed in the customers click. The customer specifies delivery address directly to the driver.
eFare contains all what is expected in a modern taxi -and ridesharing app. Compared to all other apps eFare has a different front, like a paper cover on a book that is promotional. The cover is the price chart window. When customer has clicked to order, it is like turning the front page.. the app shows ”the car on its way”.
Lucrative for the partners & co-owners
eFare is something people, in most cities, want because predictable low fare prices for door to door rides in an app-menu, makes their life even easier and more straightforward.
eFare is also attractive for the owner, because it is an efficient app, doing the job by itself with a minimum of human intervention and operating costs. It even charges the users automatically. A shareholder in an app people uses in many cities, will secure a good pension. Sharing economy is provident and are forecasted a future growth by most experts. eFare introduce the most customized solution for ridesharing and taxi operations -and it can be launched worldwide.
The most competitive and customized app
Most cities have a buyer’s market -an abundance of ride-providers (both taxis -and a continuous growing amount of share-riders).
The drivers must adapt to the customers needs, to attract them. eFare will be their most competitive helper and weapon to attract customers and achieve less waiting.
In periods with price competition, eFare will be superior with instant upfront price overview. The other apps are often perceived as narrow and not able to show prices. Users have to enter a booking proucdure -to enter a specific destination to let the app calculate a rated price for them.
The other app providers might advertise a certain percentage off, or a discount for a period. Nevertheless, it will be somehow abstract for the customers if they not already are very familiar with their price levels. The eFare providers can show their campaigns instantly in an upfront price overview.
eFare is made to match people’s habits and behavior
People want it simple -and people want predictable and fair prices. They expect to see a price tag, before they even consider buying anything.
Unpredictable prices, even taxi calculators, make barriers that should belong to the past, like the manual gear.
eFare will be the first ”auto gear” ridesharing app”, made to make it simple and straightforward for its users.
eFare has set the table
The app shows an upfront price overview to all areas from the users base -at once when it opens. The price tags correspond to the GPS signal from the users location. The current prices for rides to all areas from the users base will always be correct, no matter where she/he is located.
Even great-grandmother can use eFare (if someone helps her to download it)
Just click on a destination zone to book a ride -without writing one single letter -or enter any booking procedure to calculate a ranged price offer.
Your GPS already tells where to pick you up.
You tell where you wanna go and what to pay, when you click on a zone -and that`s it!
With eFare the customer already know the pricees before doing anything, just like when they look at a menu outside a restaurant, to assess whether they should enter or not.
eFare will also fit the future public transport solutions in most cities, because it provides the same value for people as booking a bus, train -or a flight ticket: A ride, from door to door, for a fare. Flexiblity for a fare.
Attractive business model – ROI
Among apps, taxi and ridesharing apps rank high because of their attractive and simple income model. The app contains a payment solution. Users register their account and get automatically charged for a ride.
The app is a p2p app. This means it ”does the job on its own” as a broker with a minimum of human intervention and operating costs. The job it does is to connect passangers with drivers and keep a fair fee for the job. The app needs less then 50 full time ride providers, before it starts to pay back.
How it started
The eFare-idea popped up in the middle of a process to create functional taxi zones in Oslo.
During the process we found that the individual user could trigger a price menu-image with his own GPS-signal, always with himself in the middle of the zone -and price setup. Secondly we found that the user could book a ride for a stated fare, with just one click.
The concept also implies that taximeter and calculators are being made redundant. The table is set -the prices are prearranged by the operator from the eFare backend-solution
We created zones based on the principle that they should correspond to a driving time-radius of approx 3 minutes (a diameter of 6 minutes), to work well for fixed prices seen from the drivers point of view. At the same time we payed attention to the road structure and local road regulations, to make optimal zones (the reason they are not square). We sat most borderlines in the middle of roads, as one can see from images, to reduce misunderstanding between passengers and drivers, -and for easy recognition of the zoning setup. People also often recognize the main road network in their cities. The zones have to be smaller in the central partsbecause of more traffic and regulations (lower speed). The same principals for the zone setup can be transferred to most cities. ”Local ”taxi-insiders” with good taxi -and map knowledge are able to outline functional taxi-zones in his city. When appropriate sketch is made, eFare adapt it to a digital version, put on a little tint to separate the zones visually -and bake it into the app. Ready to be launched.
Drivers worldwide are already familiar with fixed prices and zones/areas
“Can you drive me to …..area for 20…?” “How much to…..?”
The customers always expect a fixed or estimated price and the drivers are used to provide it to get customers. Other typical examples of fare price offers:
- Pickup for a fare before taximeter starts to run
- Fixed prices to airports
- Fares inside defined zones
- Fares for mileage
eFare is just about car rides for fares setup in an overall system.
Taximeter makes an average turnover in the end of the month. Average prices between zones does not change that.
The price structure
The intervals increase consistently and equal. Sometimes passengers shall not be driven the shortest distance from A to B. Maybe a detour to pick up someone? So the prices to cross a zone, must be consistently and equal. Each zone-crossing has an equal price to make it simple for both driver and customer. In our example, each zone pass cost 5 EURO (The prices rise 5 EURO from one zone -to the next). The price setup in this project is made to understand the concept.
It is up to the local provider to arrange competitive prices, adapted to the local taxi price level. In a low cost country the price steps between zones might cost like 1 USD or EURO, and -of course- in the local currency.
eFare features a new invention
GPS-signal as a trigger to release new images
Dynamic price tags continually corresponding and updating to the user’s GPS-base signal is a new invention.
The price tags might be higher or lower -and in any currency. A backend solution makes sure that a local operator can set and change the current price level to compete against other ride providers in the city. The operator can also reduce or increase prices between certain zones to affect demand in specific zones.
In quiet periods, the operator can offer “happy hours” with reduced prices. “Happy hours” can be communicated on widgets.
If the provider see many drivers in the northern part of the city and want more drivers to be availabe downtown, he can send out a low price offer to users in the northern parts on widgets. ”ONLY 9.90 FOR A RIDE DOWNTOWN, TILL 2 PM”
New opportunities for ridesharing/pooling.
It is possible to let the users -after clicking on the destination zone – add a time for prebooking. Then drivers can see who wants to go where & when -and pick up rides going in the same direction.
An upfront price overview, shown as price tags in zones, makes it easy and comprehensive for both passengers and drivers -also to coordinate pick ups of several passengers on the way.
eFares ”GPS-signal-trigger” releases several exiting options for the future.
Even in the taxi and ridesharing business it will be more and more about adapting to the customers needs – to optimize its offers. eFare takes ridesharing -and taxi several steps closer to the customers needs
Internet version of eFare
Users can check out eFare prices in different cities on the Internet. They will recognize the zone and price structure from their home towns. eFare can also give recommendations when on travel, displaying popular places with the correct fare price tag
A small app containing a comprehensive concept
The eFare app contains a payment solution, Users register their account and get automatically charged by eFare. This makes the users kind of members -or loyal customers. eFare retains a fee and reimburses the drivers share…
eFare also contain all other known solutions for such apps, like a confirmation profile image ”taxi on its way” Photo of the driver with his car, like ”Hi, driver Roger Pettersen, is on his way… ” -and a customer satisfaction rating possibility. The customer can click to give a satisfaction mark, and compile a register of their own favorite drivers. Digital live picture to follow the vehicle when it is on the way to the customer is also a part of the eFare app.
eFare contains whatever other known taxi -and ridesharing apps contains. But it has a different front, as a paper cover on a book that is promotional. This cover is the chart window with prices. Once the customer has clicked on the price tagged destination zone, the app goes over to a mode that resembles all other apps. The customer can follow the taxi on it`s way.
A statement from one of America’s greatest investors who recently bought heavy into Lyft, Carl Icahn, says a lot about the potential for ridesharing, in general.
Carl Icahn has been one of the most successful investors in the history of the stock market. Like Warren Buffet, his investments are considered the gold standard. According to Icahn, he invested in Lyft for the following reasons, which support the company’s valuation:
*With the increase in expected urbanization over the next five to 10 years, Lyft and other rideshare companies will become a necessary component of the world’s transportation infrastructure. Even with a marketplace filled with large companies such as Uber, this urbanization allows Lyft to maintain its growth rate and increase the size of the overall market.”