John is a student who wants to live on his own and earn a bit rather than being a burden to his parents. He has signed up with Uber as a driver. He loves exploring different cars but how can he buy a new car every now and then! Recently, he heard about the Fair app to make his life easier and now he can have any car without the compulsion of keeping the same for a long period of time.

The Fair app offers an innovative alternative to what we used to call traditional car ownership. The app lets you buy, get approved and pay for your next car right through a few taps on your mobile screen.

If you are an entrepreneur thinking about some out of the box idea for your startup to bring a rumble in the market, going for a Fair clone app could be an excellent choice for your venture. The app is a great way to provide the drivers with choices to own their cars and keep them as long as they can instead of leasing.

» The motive behind Fair app

The technology is transforming with each passing day. We are even changing the ways of how we buy and own our cars. The industries are looking for ways to make the customer winner in the end with simpler, more flexible, and more cost-effective options than ever before. Fair is a Californian startup that is trying to turn the car market on its head by offering pocket-friendly, simpler alternatives for the people to lease vehicles instead of buying them. They are even successful in taking huge steps towards achieving the goal.

Scott Painter is the founder and CEO of the Fair app. Fair is basically a vehicle subscription startup that is loading its executive team with veterans in the tech. They are venturing the automotive industries as they endeavor to build out its Uber leasing program and expand beyond North America.

The Fair app is supported by Softbank. The company has recently announced three key hires to lead the development of its car subscription app. They are also hiring the financing department and the leasing program with Uber.

As per a report in Tech Crunch, Jay Trinidad who was previously an executive in Google and Discovery Networks is now working with the company as the chief product officer. He is expected to direct the company’s app development and technology efforts. John Pierantoni, the chief accounting officer of TrueCar has been hired to look after the finance and risk management. Pat Wilkison who is a partner of the venture and exponential partners is an early investor in the company. He will be the one looking after the Uber program.

It is being said that these three hires are really crucial for the startup. The startup is trying to convince the customers to try its car-as-a-service platform over buying or leasing a vehicle from a traditional dealership or other online sales upstarts.

» Fair’s revenue-raising business model

 
The company has generated $1.5 billion. But apart from that, the platform itself is what makes it unique for the company.

The company has tweaked the traditional lease to provide its customers with more choices. They claim that the customers today including those in the gig economy wish for flexibility. The users can easily subscribe to the program and explore different vehicles through their term of the lease.

The business model is a capital-accelerated business model. This kind of business model requires experience that needs to be delivered by very experienced people.

The startup has raised an immense revenue of $385 million in its Series B funding round led by Softbank.

Fair provides flexible leasing plans both to everyday users and to people who use cars for work purposes. The only things that people need to have these vehicles a driver’s license and a credit card or bank details.

The company has been working with Uber closely and earned its $400 million leasing business last year. It hopes to repeat the success with other transportation companies and ride-sharing platforms as well.

They are currently active in more than 15 states and more than 26 markets in the US. The progress is thus that they are adding a new city every week. The growth for Fair has been dynamic over the years. They have been leasing cars to more than 20,000 users until now.

How Fair Works : Work process of Fair

 
Fair’s platform has something in common with other financial services that have germinated over the years. It is nothing else but big data analytics and intelligent algorithms. The company aims to enhance the process of converting a slightly curious customer into a bonafide transaction by decreasing as much resistance in the process as possible.

Fair is able to build up a financial profile of the user in the backend using their two-piece documentation. They can then easily determine whether the person is eligible to rent.

The users subscribing to cars can use the plans starting at $130. They can even cancel the plans with five days’ notice.

Also read : 

Why should you build a Fair clone app?

 
For a long-term plan by SoftBank, they wish to use Fair to help the ride-sharing businesses to move upwards. This can be done by helping connect more drivers with vehicles. Fair has already provided a quick way for the would-be Uber drivers to get their vehicles.

The Fair clone apps can help to unlock ridesharing on a global scale. The apps like Fair have the ability to turn around the leasing businesses for the ride-sharing companies and thus such companies become an asset adding tremendous value to the business.

There are other cars-for-rentals coming up in the market like Airbnb Car rentals, Zoom car etc. But the Fair clone app is basically not just a car rental app, but the business can see growth along with the ride-sharing companies as well. This is a huge opportunity for startups to put their best technological feet forward with Coruscate as a technology partner and then tie-up with the ride-hailing services in your regions to make the best of what the market has to offer.

Our developers and researchers are experts in the big data concept and we can build an app for your car rental business which can really make you the jewel in the crown. With the increasing competition, you will also need help to choose the ride-sharing companies to work together. We might just be helpful in discussing the most profitable business model and partners for you. In our hands, it is a promise that your business will definitely flourish. Connect with us for further discussion regarding the cost and features of the driver-partner app or schedule a free consultation session for the same.

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The Aber app was launched in Ho Chi Minh City which is the biggest market in Vietnam for ride-sharing platforms. Aber was developed by a few young engineers in Vietnam. They were studying in Germany.

The Aber app was first launched in Hanoi which is the capital city. The company along with Grab and Uber has promised that they will not be raising any charges during the rush hours. Many people criticize the high charges made applicable for ride-sharing during the rush hours.

Aber provides six main services which include Aber Bike, Aber Car, Aber Truck, Aber Travel, Aber Business, and Aber Express. The travel service targets local and foreign visitors. The driver of the vehicle also serves as a city guide. The company is also training the drivers in English language and other tour skill.

According to Huynh Le Phu Phong who is the business development director, the international travelers to Vietnam grew 29% year on year to 13 million people. Aber’s full form is Am Besten Fahrer in German or Absolute Driver in English.

The company’s system has a German technological platform. They have their own map that is independent on Google. Huynh said the startup has the technology, financing, and human resources to develop, and intends to expand into neighboring markets by 2020.

Google recently announced that Southeast Asia’s ride-hailing market has increased quadruple since 2015, and will be worth $20 billion by 2025. Grab is the most prominent player today and is accessible in some 200 cities following the Uber takeover.

Vietnam is experiencing more accelerated growth in the area than other parts of Southeast Asia. The number of businesses offering services through Grab and Uber has risen from 233 to 491 in the last two years, according to the transportation ministry.

Domestic startups and the regional companies as well, are racing into the market. Go-Jek has also launched its services in Vietnam and has jumped in to join the competition. Another ride-hailing app from Mpos Vietnam Technology called Fastgo is also being the next one in the race. Mpos Vietnam Technology is a subsidiary of Nexttech which is a Vietnamese technology group involved with e-commerce, e-logistics, and fintech. The company has been inaugurated in Hanoi and strives to have five million users and 20,000 drivers by 2020, with services in eight important cities offering taxi and limousine services.

VATO is another app developed by Phuong Trang transport company. The app entered the market by the end of June. There are more than a dozen businesses that will soon be competing with each other in the market. Indonesia-based Go-Jek, China-based Didi Chuxing, and Singapore-based MVL have all stated intentions to join Vietnam’s transportation market.

The local governors have supported startups and surviving taxi operators to start their own apps to challenge Grab’s powerful position in Vietnam.

The Vietnamese operators are expected to offer comparable apps to compete reasonably in the market. Nguyen Hong Truong, the former deputy minister of transport said while backing the startups in Vietnam.

Also read : Grab App Clone: Provide your customers with multiple services through a single app with a super app strategy like Grab

Grab faced a few legal headwinds over the Uber merger. Hanoi started an inquiry into the deal. Grab stated that the market share of the company in Vietnam is below 30%. However, the Vietnam Competition Authority (VCA) put Grab’s market share at over 50%. Later, Grab got permission to run 5-year programs running until 2020 in Hanoi, Danang, and Ho Chi Minh city, as well as Quang Ninh and Khanh Hoa provinces.

Grab is going to concentrate and put its efforts on Vietnam with a $500 million investment. They are planning to grow its activities in the country over the next five years. Grab has not just remained as a ride-hailing company. It has grown to much more than that.

The organization has matured as a “super app” which can be operated to order a ride, order food from restaurants, make payments, get insurance products, loans, and other such activities. The company is precisely dominant in Southeast Asia.

The company lately declared that it would employ some of the $7 billion that it has raised till today to speculate on Indonesia. Grab is planning to invest $2 billion in the Indonesian market to improve the country’s transportation infrastructure.

The government in Indonesia is backing the move. The ride-hailing company is grabbing this opportunity to gain market share. And with today’s investment, Grab is actually doing the same thing at a smaller scale in Vietnam. Grab is taking the help of the government officials once again. It has declared a “Tech for Good” road map in the country that should promote Vietnam’s economic expansion at a great speed.

Grab intends to present work possibilities in 63 cities in order to combat unemployment. The company is finding drivers, delivery persons, and merchants to hire. These people will be able to check out the credit and insurance products. But, this plan is only going to work out if the company is able to get enough customers over the long term in those cities.

The company is also planning to spend on local startups through GrabVentures. Grab will also start schedules to enhance digital and financial literacy. Eventually, Grab plans to share data with local governments. They wish to tackle traffic gridlock and pollution.

Grab is now quite influential in Vietnam. For example, GrabFood now handles 300,000 food deliveries per day. There is a 400% rise in gross merchandise volume throughout the first half of 2019. Grab drivers have made close to $1 billion in profits over all these years.

Develop Alternative app of Grab, How to Make an App Like Grab, Grab alternative app features to consider

Start Ride-Sharing business today – Ride Sharing App Development for Vietnam

So, if you are ready to join the ride-hailing competition in Vietnam, there is a huge opportunity for your startup. Coruscate can help you out by being your technology partner. We can adorn your app with the latest technologies and help you in giving tough competition to the giants like Grab. For more information, you can connect with us for a free consultation session.

Note: We do not make clones of any exact application, clone means to us is how better we can execute your app idea with existing app features and experience.

The post Grab Clone Ride Sharing App Development for Vietnam : Opportunities and scope of ride-sharing apps and business in Vietnam + How to Make an App Like Grab + Create an App like Grab + Apps Like Grab + Develop Alternative of Grab appeared first on Coruscate Solutions.