Lyft Clone- How Entrepreneurs Can Have a Profitable Business in the Ride-hailing Industry?

People are less likely to buy cars for their personal use. Instead, they prefer ride-hailing apps like Lyft. They do not need to worry about repairs, parking space, and driving difficulties in heavy traffic. Recently, the demand for ride-hailing apps has increased. For investors like you seeking an opportunity to invest, the ride-hailing service is one of the best ideas to consider. The Ridesharing service helps the people to travel to their destination with ease. Revenue in the ride-hailing & taxi industry might reach US $260 159million this year. It is expected that an annual growth rate will be 10.36% by 2025 with a market volume of US $385,942m. When compared globally, the most revenue in the ride-hailing industry will be generated in China, i.e., US $78,912m this year.

Why you have to choose the Lyft-like app for business

Lyft is the ridesharing service provider and it entered the market in 2012. However, Lyft challenges the position of Uber, which is the leading ride-hailing service provider. As of 2020, it is the second-largest ridesharing service provider in the United States of America. Lyft has increased their revenue by implementing extensive research and development. Thereby, it has become one of the most demanding taxi booking apps. Instead of creating an app from scratch, you can rely on the Lyft clone app solution that is already successful in the market. Entrepreneurs or business owners can boost their revenue using this app solution. The Lyft clone app solution is developed with the ideas of the original app. Most importantly, the clone solution is not a mere copy of the original app. The clone solution is 100% customizable with specific individual business needs.

How does on-demand Lyft-like app work?

Before moving forward to know how to launch the Lyft app, you have to understand the working model.

  • Request a ride Customers who have smartphones can install the Lyft app. Once they log in to their registered account, they can request a ride with a few taps.
  • Search for nearby drivers Users can send a ride request to nearby drivers. A notification will be sent to nearby drivers. Drivers have the option to accept or decline a ride request based on their availability.
  • Customer ride The app allows the customers/riders to track the driver's real-time location once the driver accepts the ride. Also, customers can see the estimated time of arrival (ETA). On the other hand (from the driver's app), the driver can track the customer's pickup location. Live tracking is also available for drivers.
  • Payment and reviews Once the ride gets over, the customers will make the payment and have the choice to rate the driver.

How to build and launch a robust Lyft clone app?

If you have a clear business idea, contact a mobile app development company like us. Here we perform the following process to develop the Lyft clone app.

  • 1 Requirement analysis At first, we understand our client's requirements and analyze them so that the solution suits their business needs.
  • 2 Design and wireframe We provide a blueprint of the app design based on your requirements.
  • 3 App development and testing Once we receive our client's valuable feedback, we work on it and develop the layout. After that, our testing team ensures that the app is working properly.
  • 4 App deployment With our client's approval, we deploy the app to the Google Play Store and App Store.

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Features of the Lyft clone app

Customer app

  • Push Notifications The app will notify all the ride-related details like driver's location, trip fare, and others.
  • Scheduled Rides Riders/customers can schedule the ride as per their convenience, and the respective notification will be sent to the appropriate drivers.
  • Live Geo Tracking Riders can view the real-time location of the drivers once the ride request has been processed. Likewise, drivers can see the real-time location of the appropriate riders.
  • Talk to your Driver Considering privacy of drivers and riders, the app lets them communicate via chat or call via the Lyft app. There is no need to share their contact information with each other.
  • Promo Codes You can offer special promo codes for loyal customers. This is one of the key points to boost your reach in the ride-hailing industry.
  • Change/Cancel Booking Sometimes, there is a chance that customers have selected the wrong destination. In such a case, they can change the drop-off location. Even in the worst-case scenario, they can cancel the booking.
  • Ride History Using this feature, riders can keep track of their previous ride details, including date, time, trip fare, and so on.
  • Payment Modes and ratings The app is designed with multiple payment gateways for customer convenience.

Driver app

  • Document uploads This feature allows the drivers to upload necessary documents like driver's license, vehicle details, and other relevant documents.
  • Booking alerts The app notifies the ride details to the driver.
  • Booking cancellation In case the customer cancels the booking, the driver will receive a message regarding the cancellation via the app.
  • Bank details Drivers have to update their bank details to get their earnings without any glitches.
  • Invoice The app will generate the invoice every time the customer cancels the trip. This invoice contains information related to the trip that includes a fare breakdown.
  • Accept/reject rides Due to various reasons, drivers can accept or reject the ride request. If the driver cancels the ride, it will be transferred to the next driver.
  • Support This feature allows the drivers to communicate with the support team in case of any queries.

Admin panel

  • Driver Management Using this feature, the admin can monitor the drivers and track their ride details.
  • Revenue Payroll This feature helps the admin to transfer driver's earnings to their account with ease.
  • Activity Analytics It allows the admin to track the vehicles for easy dispatching to designated places.
  • Fare management Admin can set the fare using this feature. Usually, fare depends on various factors like miles, delivery executive availability, and so on.

How can business owners get revenue using the Lyft clone app solution?

Depending on your business objectives, the revenue model differs. If you are following the working model of the Lyft app, you can charge fees from drivers and customers. Also, you can collect a fee for in-app advertising.

Charge a fee from drivers

Once the ride gets over, the driver receives money from the customer. Based on a predetermined basis, you can charge the money from the driver as commission.

Marketing

You can run ads for other businesses. Based on the ad clicks, you can charge them. On the other hand, promotional partnerships enhance your business and improve your revenue.

Benefits of a Lyft clone solution

There are many benefits of the Lyft clone app from the driver's and customer's point of view. From a business perspective, the major benefit is earning huge revenue by investing less for the clone solution. However, developing the app from scratch is not cost-efficient. As of now, on-demand apps have been successful across the world, and it worked for many startups and small businesses.

Are you interested in making clones of popular apps like Lyft?

Why should we choose Tranxit for Lyft-like app development?

In the market, several clone app developments are there. It is crucial for entrepreneurs to choose among them. We are expertise in app development so far and offering highly reliable apps to our clients. We develop the Lyft clone app by considering various factors like quality, features, and client requirements.

Have questions? Look here

The Lyft app will be hosted on your company server and we assure you that you will own the source code. We will not claim ownership of your source code.

Obviously, we assist even after the app has launched.

Lyft clone app solution is 100% customizable. We ensure that the app is robust and built according to your business objectives.

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