RideShare Payback

//RideShare Payback

RideShare’s total cash expenditure is $253,369.

First, we have to understand that RideShare is a voluntary program. As such, we do not know how many people, who listen to a RideShare ad, call the RideShare number or hear about RideShare from a friend, actually form a carpool.

Consequently, we need to make some assumption and extract the number of car poolers who have used RideShare. Then, we can rationally determine if the program pays for itself.

With this in mind:

Let’s assume the average carpool is 2 persons for work trips.
20 miles is the average commute in the region.
There are 250 commuting days in a year.

 

One commuters saves 5,000 miles per year in driving. Assuming a car gets 20 miles per gallon, 250 gallons are saved per carpooler.

 

If the average cost of a gallon of gas is $2.50, the driver saves $625 per year due to their carpooling.

 

Rideshare is expending $253,369 per year. How many carpoolers, who save an average of $625 per year, will it take to make RideShare pay for itself?

 

The answer is 405.

We know that our vanpool program has 180 passengers.  Therefore, if only 225 more people carpool because of RideShare, the program breaks even.

 

According to census data, there are 89,000 carpoolers every day in this region.

 

225 is .25% of 89,000 carpoolers.  It is a reasonable assumption that .25% of carpoolers used the RideShare program to form a carpool.

2016-12-08T15:02:55+00:00
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