Understanding the Hitchhyke Subscription & Pricing Model

Hitchhyke operates a unique pricing model that allows our drivers to maximize their earnings while offering affordable transportation to riders. This article aims to clearly explain how our pricing model works, with practical examples.

At Hitchhyke, we implement a subscription model in combination with a platform fee system. As a driver, you pay a monthly subscription fee, which in turn lowers the platform fee per ride. This unique system allows you to retain more of your earnings from each ride.

How it Works

Subscription Fee

The subscription fee is a fixed amount you pay each month to have access to the Hitchhyke platform. This fee helps us to maintain and improve the Hitchhyke platform and provide you with customer support when you need it.

Platform Fee

The platform fee is a small percentage taken from each ride fare. However, the percentage taken as the platform fee can be reduced because of your monthly subscription. This means that by subscribing, you get to keep more of your earnings from each ride.

Examples

To further illustrate how our pricing model works, consider these examples:

Example 1 - Hyke Pro:

Suppose you are on a $30,000 JMD monthly subscription plan, and the platform fee reduction because of your subscription is 20%, making it now 10%.

Let's say you make a ride fare of $1000. Normally, if the platform fee were 30%, Hitchhyke would take $300 ($1000 * 30/100) as the platform fee. But because of your subscription, the platform fee is reduced by 20%, making it only 10%. So, Hitchhyke only takes $100 ($1000 * 10/100) from your ride fare. You get to keep $900, which is $200 more than you would have without the subscription.

Example 2 - Hyke Basic:

Suppose you are on a $10,000 JMD monthly subscription plan, and the platform fee reduction because of your subscription is 10%, making it now 20%.

If you make a ride fare of $2000, a platform fee of 30% would mean Hitchhyke would take $600. But your subscription reduces the platform fee by 10%, making it only 20%. Therefore, Hitchhyke only takes $400 ($2000 * 20/100) from your ride fare. You retain $1600, which is $200 more than without the subscription.

Example 3 - Hyke Free:

Suppose you elect not to subscribe to the platform, and the platform fee is left at its normal rate of 30%.

If you make a ride fare of $600, a platform fee of 30% would mean Hitchhyke would take $180 ($600 * 30/100) from your ride fare. In this example, you retain $420 without paying a monthly platform fee.

Note: Please keep in mind that all figures in this article are for illustrative purposes only. The actual subscription fee, platform fee, and platform fee reductions will likely differ based on various factors. The actual numbers will be provided to you when you join Hitchhyke as a driver.

Benefits of the Subscription Model

Our subscription model offers numerous benefits, including:

1. Increased Earnings: The reduced platform fee means you get to keep more of your earnings from each ride.
2. Predictable Costs: The fixed subscription fee means you can better anticipate and manage your costs each month.
3. Support the Platform: Your subscription fee helps support the platform's maintenance and enhancement, ensuring a better experience for both drivers and riders.

Cash Rides & Direct Bookings

Cash Rides: Another significant benefit of subscribing to certain levels is that you can be matched with cash rides. In cash rides, you, as the driver, get to keep 100% of the fare, with no platform fee deduction. The more rides you have, the more you can maximize your earnings.

Direct Bookings: At certain subcription levels, you are able to use the "Direct Booking" feature. This allows you 3 signficant benefits:

1. You're able to generate a personal QR code where verified riders can scan and directly book rides with you. This QR code can be exported from the app a shared on other platforms, allowing you to advertise your services beyond the Hitchhyke platform.
2. Verified riders that have previously used your services will be able to book a ride with you from their 'My Trips' view by tapping on your profile picture.
3. While you're online, verified riders will be able to see your pricing details and book a trip with you, directly from the map screen in the app without needing your personal QR code.

We hope this explains how our pricing model works. If you have any questions or need further clarification, please don't hesitate to contact us. We are here to help you maximize your earnings and make the most of the Hitchhyke platform!