Taxi apps have created a revolution in the way people travel from one place to the other. It has ensured comfort to prevail in terms of time being saved considerably for them. This is because riders no longer have to wait long hours for rides. Many solutions have been responsible for building comfort levels, such as Uber, Lyft, etc.
In this article, I will discuss Lyft and the reasons for its popularity. I will also discuss the Lyft clone app and its advantages.
As you read this comprehensive guide, you will get an insight into how to develop an app similar to the one keeping costs in check during the process.
So without further ado; let's begin.
About Lyft
Year of Launch – 2012
Areas of Service – 12 cities in Canada and 644 cities in the USA
Since 2012, Lyft has streamlined how riders avail rides from one place to another in USA and Canada. This is courtesy of the different ride options the solution provides. This includes motorized scooters, bicycle-sharing systems, rental cars, etc. In addition, the solution has easy operations. This is why the solution has captured so much popularity in the first place.
Below I have cited other reasons for the popularity of the Lyft app.
Reasons for the Popularity of Lyft App
Lyft had its launch in 2012. Thereafter, it created a revolution in the ride-sharing business. It simultaneously went on and became popular. There are many factors responsible for this.
Market Stats
The numbers elucidated below highlight the popularity of the solution.
- Current profits the app made stand at $990.7 million in 2022.
- Possessed 18.7 million riders in 2021.
- Generated revenues of $3.2 billion in 2021.
- The average revenue per active rider was $51.79 in Q4 2021.
- Market share in the US is 29% in 2022.
- The number of drivers stands at 2 million.
Business Model
Following the peer-to-peer business model, Lyft offers a platform that connects riders and drivers. This is to ascertain that the former gets access to safe and convenient ride experiences at their desired time.
Check out the image below to get a bird’s eye view of this.
Image source: devtechnosys.com
The image illustrates the business model of Lyft. It displays how riders requesting a ride at their doorstep get access to them. This is through the creation of a driving program for drivers. This assists those not owning a vehicle to get access to them to pick rider and provide ride services to them.
Revenue Model
There are four ways through which the solution boosts its profits and earns considerable returns.
- Surge pricing revenue model was based on high demand the app boosts its profits.
- Commission-based model where drivers are charged a particular percentage of the fare.
- Multi-modal model where through different ride options they earn revenues.
- Subscription model (Lyft Pink) where riders are charged $19.99 monthly to avail benefits such as 15% on ride shares, scooter rides, etc.
Features
The app has three segments – rider, driver, and admin panel. Each has a unique set of features in their solution so operations are seamless.
In Rider App
- Social media login
- Book a ride
- Fare estimate
- Cancel ride
- Get driver details
- Know ETA (expected time of arrival)
- Real-time tracking
- Multiple payment modes
- Push notifications
- In-app chat/call
In Driver App
- Easy registration
- Alerts on ride requests
- Set availability (online/offline)
- Accept or reject the ride request
- Get rider details
- Real-time tracking
- Geo-fencing
- In-app chat/call
- Earning history
For Admin Panel
- Rider management
- Driver management
- Payment management
- Track ride in real-time
- Reports and analytics
- Manage review
So you know the different factors responsible for the popularity of Lyft among those planning to digitize their taxi operations. However, while availing of the solution, it is crucial to keep the budget in check. This will ensure that cost does not get overspent. It is equally vital to know the steps for taxi app development.
Steps to Follow to Develop Taxi App like Lyft
To perform taxi app development to create a ride-sharing solution similar to Lyft, keep these steps in mind.
Step 1. Keep an Idea of Competitor Actions & Target Audience
When you set out on the journey to develop taxi app similar to a Lyft clone, you must assess your competitors and target market well in advance. This will give you an insight into the app design strategy you need to implement.
Step 2. Add Relevant Features
The app has two main segments- rider, and driver. Hence, it is a good idea to include features that allow a seamless connection between the two. It will also boost the value of your solution. It will ensure ride services are convenient too.
Step 3. Use Robust Tech Stacks
You must use robust tech stacks that have been around for a long time. This will ensure your app works flawlessly without going through any incidents of crashes. It is critical you check that rides happen easily through the technology you use.
Step 4. Outsource Taxi App Development Services
Last, outsource taxi app development services. Connect with a ride-sharing app development company offshore upon assessing their portfolio and client reviews. Once you have an idea of these areas and are satisfied they have enough expertise, get in touch with them thereafter.
Cost to Develop Ride-Sharing App like Lyft
Lyft has revolutionized the way riders avail rides to and fro from one location to the other in USA and Canada. This has led to its popularity growing manifold, particularly among those planning to digitize their taxi operations. However, while performing this task, cost becomes an issue of concern. This is why the Lyft clone app has been created.
So if you are also a taxi startup that plans to digitize your taxi operations, and wish to know the budget to allocate, the cost to develop ride-sharing app like Lyft clone will be between $15,000 to $25,000. However, the cost may go up if you want to include advanced features and functionalities.
There are some areas that affect the cost which are:
- UI/UX design
- Add relevant features
- App platform (Android, iOS, or both)
- 3rd party API integration
- App development company location
Ending Words
Since its inception in 2012, Lyft revolutionized the ride-hailing industry completely. It went on to become a source of encouragement thereafter for those who plan to digitize their taxi business. If you are among one them, keep costs in check during taxi app development. Empower your business with the Lyft clone app to keep your budget within the limit. It will transport your venture to the path of profits like never before and get handsome returns right from Day 1.
