Is Shared Ride Booking Business Potential Higher Than Ride-Hailing Business? Which Option is Better for Drivers?

Indeed, the ride-hailing business has already created a high buzz in the market, and according to the Statista report, from the period 2020-2023, the estimated annual growth revenue is 13.7%, which may exhibit the market value with around USD 318,765m in 2023. On the other hand, ride-sharing services also give neck-to-neck competition to its counterparts. Because, in 2018, the market size of carpooling was USD 61.3 billion, but this value is forecasted to increase in 2025 with USD 218.0 billion. So, it is challenging to say, which will make a high presence in the future on the digital platform.

According to the numbers, the potential of both of them is high though the question is still awaited, which taxi booking app is better for drivers? First of all, it is crucial to get familiar with the critical difference between ride-hailing and ride-sharing services? The purpose of the shared cab services is to connect riders with the drivers who want to work independently based on their personal working choice. However, the ride-hailing app is run by the third-party, which enables drivers and passengers to connect with their taxi services. If we talk about the cost-effective cab app for travelers, the motor pool could create a win-win game for chauffeurs. Well, the people who travel on the daily-basis may prefer carpooling a lot over private cabs booking assistance. It means the drivers who have less vehicle storage can generate high income even after the presence of the opposite party.

Key Benefits of Car Pool App Development Solutions for Motorist

Complete Earning History

The tailored-fit ride booking app for pooling service offers an earning report to the drivers either on a per-day basis or monthly basis. It is the flawless feature included by the mobile app developers within the app for motorists to project whether they are in profit or loss after starting the shared-ride taxi business. Based on the earnings, they can maximize the work schedule and can target any audience to interact with their service.

Enabled-Geolocation

Whether you are a newbie to the area and do not know the exact routes to drop the customers, the taxi booking app includes the in-built location tracker that allows you to locate the places as well as the address of people who request for the pick-up.

Fare Estimation 

The driver app is the most profitable from all sides if and only if it is designed as per the latest trends. Likewise, the fare estimation feature is the perfect option to know how much cost your passengers will pay you after the ride. Moreover, you can accept or reject the rides whenever you feel that the user who has booked you for the cab online is not worth the profit.

Reward Earning Options

The readymade cab app supports the reward earning programs, which means riders can win the bonus points after the ride. These rewards can be used for future trips and save more money for passengers. Therefore, the app creation idea for the van-sharing service is fantastic for chauffeurs who can impress the customers by offering them special discounts and cash bonus like services.

No Waiting Time

Unlike the bus transport system, there is no hustle-bustle of ticketing and no mess of managing massive cash in the leather bags. Here, drivers are the boss of the cars, and they do not need to worry about the payments. The car pooling application provides access to transfer and receives the cash from the passengers via e-wallet systems and mobile payment processing. 

Conclusion

Ride-shareable businesses are the next big thing that can smoothly shape future transportation. Planning to build a taxi booking app online to grow your brand by 10x faster? Explore the service of Haucabs that has become the one-stop-solution to create the clone for carpooling service. The taxi app features a Hau Pass, easy booking, real-time tracking, seamless payment gateway & 24/7 dedicated customer support to help you to experience the long-lasting business opportunity.