Let me ask you a question: What would your dream rideshare company look like? In this video and article I’m going to share my vision for a dream rideshare company for full time drivers. And Cecily is going to share her vision of a dream rideshare company for part-time drivers. And at the end, you can decide for yourself which sounds better or make your own company.
Take a look at our video, and scroll to the video transcript if you prefer to read.
What is the ideal pay structure?
First topic we’re going to look at is pay structure. Cecily, tell us what you got.
Cecily: My assignment today is to talk about what I think would be the perfect ride share company for a part-time driver. If I were to create the perfect company, it definitely will center around the driver in mind. The company would not charge a commission rate on a sliding scale. We’d charge 5% period. It’d be 5% per ride goes to the company. We would start in one metropolitan city, and we’d work out all the kinks before we went to other cities. So if we’re only charging 5% for drivers, drivers are able to pocket 95%, bottom line.
Jay: Now my pay structure is quite a bit different than Cecily’s. She wants to pay 95% of the drivers. I’m not sure how that’s going to work since Uber and Lyft aren’t even able to make a profit, and they’re taking 75%. I broke it out that not everybody gets paid the same. We got to get a completely different outlook here.
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I start drivers out at 60% and then over time as they earn, and they make more and more rides, it can get all the way to 90%. I even throw in a bonus there. If you keep your rating high, you get an extra 5% bonus on top of that. My pay system is all based on performance. Everyone does not get treated the same. Mine is based on you making a commitment to the company, and you’re working hard and as you work hard, you earn more, and your percentage increases over time.
How would the idea rideshare company keep drivers and passengers safe?
Cecily: One of the other things that we like to do is to sell both drivers and passengers on safety. All passengers using our platform would definitely use their drivers license to be able to get on the platform. At the same time, passengers know that drivers are being screened every six months to a year for criminal background checks and they’re being fingerprinted as well. So safety is important for us on both sides.
Jay: Now, I completely agree with Cecily that everybody should be checked out. What I will add is that I, think, every driver needs to be drug tested. As a taxi driver, what I discovered was that women were much more comfortable in a taxi than they are in an Uber or in a Lyft because they know that the drivers are fully vetted.
How would the ideal rideshare company handle tips?
Cecily: We’d also let passengers know that our drivers get a 100% tips and to tip, you’re encouraged to tip those that do well.
Jay: Oh Cecily, I couldn’t agree with you more. I would even consider adding a feature of the app that the passengers can preset their tips (Lyft now offers this). For example with Uber Eats, I am preset for a $2 tip, so I don’t even need to tip. It’s automatically added in.
The ideal working schedule for drivers
Topic number four is the work, the schedule of the drivers. Cecily, take it away.
Cecily: Now, another incentive for our part-time drivers is to incentivize them if they drive using a certain schedule. Being a part-time driver, I know that when I have a certain schedule I make more money. You have to prioritize your time and the part-time driver is not going to benefit if he or she doesn’t do that.
We will incentivize you, offer promotions for people who drive a certain times of the day, certain days of the week, that sort of thing, which is pretty much what is done right now. But the promos and the bonuses will have the part time driver in mind and not just bonuses for people who drive full time.
Jay: On this topic, I really think Uber and Lyft have it right, so it would be a supply and demand feature. When demand is high and supply is low, that there would be some bonus for you to go to that area and get the passengers. So I guess we agree on this particular feature.
Do Uber and Lyft drivers get priority in our company?
Cecily: We’ll offer priority processing for existing Uber and Lyft drivers because we assume that you’ve already gone through your background check if you’ve worked with them and we’ll push you guys through first.
Jay: Well, here’s a topic we completely disagree on. I would not give Uber and Lyft drivers any kind of priority. I would want to appeal to everybody that everyone starts from ground zero and everyone gets a fair shake. Everyone’s got the exact same compensation plan. And if you want to join the company and make a go of it, you’ve got the same opportunity as everybody else.
Last point, Cecily. What do you think about an ironclad contract for the drivers?
Cecily: And lastly, because you’re a part-time driver, you’re only doing this part-time, we want to make sure that we attract the good ones. Anyone that signs up for our company is grandfathered in. You’re not getting multiple contracts on multiple contracts. The contract that we negotiate is a contract you keep as long as you stay on our platform.
Jay: I pretty much agree with that. I would leave open the option that if we can come up with a better program, we would offer it to all the drivers. All right, Cecily, you got any final last words?
Having said all of those things, would my company be a company that you would drive for? Let me know in the comments.
What would your rideshare company look like?
I want to thank Cecily for her contribution to this video. It was really fun putting this together, and I just invite all of you out there to think about. If you could make your own dream rideshare company, what are the really important components that you want to make sure that are part of it and what are things that are not so important? We’ve shared with you some of our thoughts and use the comments and tell us what you think.
This is Jay Cradeur with Cecily, and we want to thank you for watching. You all go out and have a great day.
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