Description
Membership Terms for Fleet Owners in Portland
As a fleet owner in Portland, you have two options for becoming a member of Fare Co-op:
1. Fractional Shareholder
- No annual fee
- Earns 55% of platform profits*
2. Full Shareholder
- Full ownership, earning 90% of platform profits*
- Payouts are made biweekly via ACH, minus a $1 ACH transfer fee
- Must purchase a share for each participating driver/vehicle
- Current share cost: $400 + Stripe processing fee
- Maintenance Fee: $52.50 per share, per month
Why the Maintenance Fee Matters
The $52.50 monthly fee for each share is critical to the success of your membership. It funds:
- Growth of our business in Portland
- Airport permits and compliance
- Marketing and advertising campaigns
- Driver meetups and community events
- Ongoing app development and feature expansion
- Continued expansion of Fare Co-op in your state
This investment ensures that your share value continues to grow toward our planned IPO within the next 2 years. After the IPO, the increased value of your share is intended to serve as collateral for financing driverless vehicles, allowing drivers themselves to own the very vehicles that will replace traditional driving jobs.
Important Clarification for Full Members
- Members who pay the monthly maintenance fee:
Their share value will grow with the Co-op’s expansion and move toward IPO appreciation. - Members who do not pay the monthly fee:
Their shares will be frozen at the original purchase price and will not grow in value alongside the Co-op.
Additional Fleet Requirements
To qualify as a fleet, the following must be met:
- Valid business license and compliance with all required state/municipal regulations, including valid commercial fleet insurance.
- All participating drivers/vehicles must upload documents into the app (driver’s license, personal auto insurance, license plate, and vehicle inspection if applicable).
- Fleets must be registered on our Partner Portal:
👉 https://partner.fare.coop/partner/register - Watch the Fleet Management Tutorial:
🎥 https://www.youtube.com/watch?v=H6dl6Gp7ms4
All state/city mandated individual licensing costs and/or requirements are the sole responsibility of the driver.
How Ride Costs Are Calculated
Each ride is made up of two components:
Ride Hard Costs
- Insurance (charged per traveled mile)
- Local/municipal taxes
- Credit card processing fee (4.5%)
- (Optional) Tolls — 100% paid to the driver
- (Optional) Tips — 100% paid to the driver
Ride Profits
The net profits from each ride, shared between Fare Co-op and the driver, based on your membership type.
- Distance (per mile, with or without a base fare)
- Time (including wait time)
- Booking Fee
- (If applicable) Cancellation Fee
- (If applicable) Minimum Fee
Refund Policy – Full Membership
- Full refunds are available only within the first 3 days of joining.
- After this period, refunds are no longer available, as all membership proceeds are reinvested into the expansion of Fare Co-op (marketing, PR, app development, airport fees, insurance, operations).
- If you cancel after 3 days, refunds will only be issued if and when the Co-op becomes profitable or secures new investment.
- Refund requests due to unforeseen circumstances will be reviewed on a case-by-case basis by the Federation.
* Profit Share Notes:
- Full fleet shareholders: 90% of profits, paid biweekly via ACH (minus $1 ACH transfer fee, after hard costs).
- Fractional fleet shareholders: 55% of profits, paid biweekly (after hard costs).
