Uber has brought a complete revolution in the way people book their cabs. Passengers and drivers both observed huge benefits by using platforms like Uber. Looking at the success of Uber business model, many came up with the same strategies for their taxi business too.
But the one made itself stand out of the crowd is Lyft – A ride-sharing taxi app. When everyone was following the same business model as of Uber, Lyft came up with its own uniqueness. And that is the reason why it is expected that Lyft will even surpass Uber by 2021.
Lyft’s global Revenue is $3.6 billion and holds 40% of the market share alone in the U.S. So, in this article, we will discuss a few points on the Lyft business model and its working. Let’s process first with its business model.
How is the Lyft Business Model Unique?
All those who are planning to build a taxi booking app? The first step you need to follow is to decide whether you want to go for the Lyft business model or want to build your own business model. With that, you should even know the difference that lies between Uber and Lyft’s business model.
Yes, that’s true that the main goal of both the companies remains the same, that is helping a rider to meet the nearby driver. But the operations differ here. Lyft has a more friendly feel in comparison to Uber. It jumped into the consumer market with the carpooling concept. A few points of Lyft,
- This giant taxi booking app has collaborated with autonomous vehicle providers.
- Lyft has launched a new service which is called last-mile drive. With the help of this service, self-driving is made available.
- The main focus of Lyft lies on-demand carpooling and taxi services.
- Lyft targets the domestic market first.
- Lyft is all set with its new strategies for the drivers and passengers to be implemented in the future.
- All the Lyft taxis have a pink moustache which helps the passengers to easily recognize the car.
- The taxi booking app operates in the USA and Canada.
After going through all these points, now let us go through a few unique services provided by Lyft to its users.
Original Lyft – It is a service for the regular passengers with the sharing of four in a vehicle.
Lyft XL – A regular vehicle service with the sharing of 6.
Lyft Premier – A high-end vehicle services for approximately 4 passengers in a vehicle.
Lyft Lux – It is a premium black car service with luxury vehicles.
Lyft Black – SImilar to the Lyft Lux it is a premium black car service with advanced luxury services.
Lyft Black XL – A service for premium SUV for approx. 4 passengers.
These services attracted more and more users to Lyft. Henceforth, with passing time it became one of the biggest competitors of Uber. One of the reasons why people enjoy Lyft service is its friendly look.
The Working of Taxi Booking App Like Lyft
The working of Lyft is quite simple, passengers can easily search for a cab from the application and request a ride. The request will go to the nearest driver, and looking at the passenger’s profile, they have an option to either accept or reject the ride. Here is a list of value proportion for the rider and drivers.
- Drivers can get the opportunity to earn extra income.
- Lyft will give 20% of the rideshare costs to its drivers.
- Flexible working is made available to drivers. Therefore, they can switch on/off from work anytime.
- No more waiting for the taxi. You can easily book a cab with a few taps.
- Lyft lets passenger befriend drivers.
- It even offers free rides during several occasions and even offers are provided to the passengers.
- Pricing of Lyft is lesser than any other online taxi service.
- The friendly environment of Lyft makes a passenger feel like they are riding with their friends.
With the help of all these values, Lyft is becoming more and more popular with the passing days. Uber is all about professionalism while when we talk about Lyft, its tagline says everything, i.e, “ Your Friend with a Car”.
Whether it is Uber or Lyft, both come with their own uniqueness. But people are now getting more comfortable with Lyft due to its friendly services. All this makes a sense that the future of Lyft is really bright.
The Future of Taxi Booking App Like Lyft
The better service and reliability of Lyft is the main reason for the success of taxi apps like Lyft. It came up with its own uniqueness rather than copying another taxi app model. And that is one of the reasons for its popularity.
The future of Lyft is bright as they keep on updating their services with the new element. And that’s why many resources came up with this analysis that by 2021 Lyft will be the next Uber in the world.