In this episode, I chat with Dillon Wagner about starting his own rideshare company! We actually have an article all about starting your own rideshare company, but many people still reach out about the process, so in this episode, I offered Dillon a consulting call – and this is the result! We go over everything you should consider when starting a rideshare company, including insurance, messaging, differentiation and much more.
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Watch my interview with Dillon here: RSG197: I Want To Start A New Rideshare Company
Intro to Dillon Wagner
- Former student at Rowan University
- Started Wags Wheels as a service at Rowan
- Plans for expansion in the student transportation market
- Wants to get the model right at Rowan, then expand
- Started as an experiment in the last few months
- Received all documents through the state
- Launching official business soon
- Working on an app
Identifying Profitable Rides – and Unprofitable Rides
- Demand is mainly at night
- Need for a minimum fare – and a maximum fare
- Hard part isn’t the driving – it’s the pick up and drop off
Investment & Legal Challenges
- Parents invested some money in Wags Wheels
- Legal costs are higher than expected!
- TNC license
- Insurance requirements
Differentiation from Uber and Lyft
- Show the better customer service experience, don’t just tell
- Employees are drivers
- Limo companies and sprinter vans
Long Term Thinking
- Geography focus?
- Which schools could Wags Wheels expand to?
- New markets
- Want to start small and get the model set
- Big thanks to Dillon for coming on the podcast and being willing to do this consulting call live!
- Dillon is on to something cool here – lot of potential!