What You Need To Know About Starting A Shared Mobility Business

What You Need To Know About Starting A Shared Mobility Business

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Shared mobility has always been present in the form of taxis and public transportation. But technology advancements have allowed profitable, data-centric shared mobility businesses to adapt to the digital age.In fact, according to Grand View Research, the shared mobility market is going to reach an estimated worth of US $619.51 Billion by 2025.

The simplest example of shared mobility is a ride-pooling service – the driver can cover the cost of fuel, insurance, and maintenance through fares. These costs are already high and this solution is economical for both passengers and drivers.

But what if you think at a much larger scale? Own more cars and rent them out to people so they drive while you earn? That’s the power of shared mobility.

What You Need To Start Your Own Shared Mobility Business

If you already own a car, you already have all you need to get started. You need to register with a platform like Ridecell that gives you the power to launch your mobility sharing business and customize the services you provide.

You can effectively use your car to pay off your auto-loans (if you have them) while also taking care of other expenses like fuel, maintenance, and even insurance.

Once you’ve paid off one car, you can scale your business by adding more cars to increase earnings.

The Different Types Of Shared Mobility Services 

These are the two types of shared mobility services you can start:

  • Corporate Car-Sharing (if you’re a business): This is a replacement for company cars. If you already own a company and have a fleet of vehicles that are idle during the business hours, this option is perfect. You can offer your company cars to different companies during business hours when those cars are parked and not in use. You can effectively make money from idle cars by doing this and diversify your earnings.
  • P2P (peer to peer) Car-Sharing (if you’re an individual): This is the most effective service that you can start with, as an individual. Think of it as Airbnb, but instead of a home, you’re using a car. You can rent out your idle BMW, Mercedes, or Audi to people and earn rent on it to pay off your car loans. If you live in an area with a lower population density, you can provide an affordable service to others, helping them out. 

Added Benefit: Sharing The Luxury and Cleaning The Environment

Not many can afford the luxury of having a car. Shared mobility brings this luxury those less fortunate (and a lucrative business opportunity to you). To reiterate how shared mobility works, people can rent your car to drive it without owning a car, while you earn rent.

Just imagine the implications if more people used services like this (and in the future they probably will). Shared mobility businesses would eventually lead to fewer cars on the road, considerably reducing harmful carbon emissions. This would result in a cleaner environment, and you’d be doing your bit for the planet while running a profitable business.