Description

Please note this includes maintenance fees for the 1st year. After the first year, you will be required to pay a $52.50/month for the maintenance and further growth of your share, which pays for marketing, advertising, app development, and airport permits in order to grow the platform and the value of your investment.

As a driver, you have 2 options for becoming a member of Fare Co-op:

1. Fractional Share Holder: $20/year earning you 55% of the platform profits*.

2. Full Share Holder: Full ownership earning you 85% of the platform profits*

* Drivers who are full share holders earn 85-90% after hard costs (insurance, local/municipal taxes and payment processing fees). Drivers who are fractional share holders earn 55% after hard costs.

To qualify as a driver, the following requirements must be met:

1. Completion of a background check (with a valid SSN)

2. All documents (driver’s license, personal auto insurance, license plate and vehicle inspection, if applicable) must be uploaded on to the app.

3. Additional mandatory requirements to drive passengers:

• Vehicle must be no less than 15 years old
• No more than 125,000 miles on the odometer
• Must be at least 21 years old to drive

Any local state/city mandated individual licensing costs and/or requirements are the sole responsibility of the driver.

 

How ride costs are calculated

Each ride has the following components making up the total that the customer pays:

Ride Hard Costs

• Insurance (the insurance that we are charged per traveled mile)
• Local/municipal taxes
• Credit card processing fee (4.5% covering our transaction fees with Stripe)
• (Optional) Tolls – where applicable, 100% of which is paid to the driver
• (Optional) Tips – 100% of which is paid to the driver

Ride Profits (the actual net profits made from each ride, shared between Fare Co-op and the driver as explained above)

• Distance (per mile, with or without a base fare)
• Time (including wait time)
• Booking Fee
• (If applicable) Cancellation Fee
• (If applicable) Minimum Fee (if the total of distance+time is less than this fee, the minimum fee applies instead)

Refund Policy

Full Membership Share + Yearly Maintenance

We offer full refunds within the first 3 days of joining. After this period, refunds will no longer be available as all membership proceeds are reinvested into the expansion of Fare Co-op, covering costs such as marketing & PR, app development, airport fees, insurance, and other operational expenses.

If you choose to cancel after 3 days, your refund will be processed only when we achieve profitability or secure additional investment funding.

Think of this as a business partnership—your contribution supports the growth of a company you co-own and benefit from long-term.

For members unable to continue driving due to unforeseen circumstances, refund requests will be reviewed on a case-by-case basis by the Federation.