Pricing
Subject: Enhancements to FareRyder Services: Upholding Excellence and Value
Dear Valued FareRyder Customers,
I hope this message finds you well. I am writing to shed light on important enhancements to our business model designed to reinforce our commitment to providing superior services, uphold our position in the market, and ensure sustainable growth.
Following an exhaustive evaluation of our revenue model, it has been deemed necessary for FareRyder to implement strategic modifications to maintain profitability. Consequently, we are implementing these significant changes:
1.
Minimum Fare Policy:
To ensure we consistently provide our high-quality service, our rides will now hold a minimum fare of $17.
2.
Revised Pricing Rates:
We have adjusted our charges to $3.40 per mile and $2.00 per minute. Although this modification could potentially make our services costlier than some others, we strongly believe it is a crucial step in continuing to deliver our premier ride experience.
These adjustments are not merely to safeguard the company’s financial stability but to ensure we can consistently deliver the high-quality experience you’ve come to expect from us. In addition, we are reducing the percentage of fare that FareRyder retains, a move intended to offset operational costs including marketing, insurance, application maintenance, and other expenses essential for enhancing our service.
Our new pricing structure aligns our services with premium comfort, an essential aspect of the FareRyder experience. With these changes, we hope to continue to attract discerning customers who value and appreciate our commitment to quality service.
Our strategy ensures not only that FareRyder maintains its high standards of service and continues to grow in the industry, but also that our drivers — the backbone of our operation — are appropriately compensated for their dedication and efforts.
As part of our initiative to broaden our market reach, we are actively working on partnerships and promotional activities at high-end establishments. Our goal is to attract a clientele who appreciates, and is willing to pay for, our superior services.
We are immensely grateful for your continued support and patronage during this transition period and beyond. Your understanding and acceptance of these changes are pivotal to us as we strive to provide the best ride-hailing experience in the market.
Thank you for being a valued part of the FareRyder journey.
Best regards,
Allen Graham Jr
CEO of FareRyder