Ride-hailing services have been proliferating in Asia, players such as Uber, Didi, Grab, GoJek and others aim to disrupt the taxi industry by offering their services to almost anyone with a vehicle. Now, some folks have been saying that the fare and fee structure isn’t sustainable and even go to say that the venture capital firms are “subsidising” the current fares. But the good thing is that the public is enjoying the perks of it all.
Over in the US, the battle is between Uber and Lyft. There seems to be a new player in town, RydenGo. It is still a ride-hailing service but with a slight twist in the business model.
By just charging a monthly subscription fee of $20 per driver, drivers take home 100 percent of earnings and tips. Another unique proposition, drivers get to set the fare they want to charge. So it isn’t some system which automatically comes out with a fare.
“Our mission at RydenGo is to empower drivers,” said Michael Pappas, RydenGo’s CEO and founder. “If ride-sharing companies can benefit financially, why can’t the drivers, too? Our hands will never be in drivers’ pockets. Except for a monthly subscription fee, it’s truly the drivers’ business. Drivers set their fare prices and keep 100 percent of the profits they earn. We charge them no commission as other ride-sharing companies do. We believe our unique business model not only benefits drivers but also provides passengers a variety of pricing options and safety features unrivaled in the industry.”
RydenGo Vs. Uber
As advertised on its website for the US, based on an Uber driver’s average monthly net income of $3,166, Uber takes a 20 percent cut or more of drivers’ earnings. That’s an average of $633 a month going directly into Uber’s pockets with the average loss to drivers adding up to $7,596 a year.
Pappas said, by contrast, RydenGo’s introductory $20 monthly driver subscription plan enables entrepreneurs to make approximately $7,356 more per year.
“Drivers can earn more money using RydenGo, no matter how much they drive,” added Pappas. “That’s the RydenGo way.”
A free monthly driver subscription will be offered to qualified drivers for a limited time who join the upcoming RydenGo beta program in these selected cities: Orange County CA, San Francisco, San Diego, Los Angeles, Boston, Chicago, Dallas, Houston, Austin, Seattle, Las Vegas, Atlanta, Miami, Portland, Denver, Washington D.C., Minneapolis, Philadelphia and New York City.
“I was fascinated from the first-time Michael told me about his vision for RydenGo,” said Sanchez Torres, RydenGo co-founder. “We are not building just a simple app, but a whole new ride-sharing concept. I knew I wanted to be on this ride and help him change the world of transportation.”
