Description
Membership Terms for Fleet Owners
As a fleet owner, 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 membership
Earns 90% of platform profits*
Payouts are made biweekly via ACH, minus a $1 ACH transfer fee.
Fleet owners must purchase one share for each participating driver/vehicle.
Share Pricing
Pre-Launch Stage: $150 per share, plus Stripe processing fee, while licensing, insurance, and launch preparation are still in progress.
Live Stage: $300 per share once Fare Co-op is licensed and fully operational in your local market.
Maintenance Fee: $52.50 per share, per month. This applies only once Fare Co-op is fully live in your local market and the share price has increased to $300.
Why the Maintenance Fee Matters Once Live
The $52.50 monthly maintenance fee for each share only applies after Fare Co-op is fully operational in your local market. This fee is critical to the long-term growth and value of your share because it helps fund:
Monthly insurance costs
Local market expansion
Airport permits and compliance
Marketing and advertising campaigns
Driver meetups and community events
Ongoing app development and new features
Continued expansion of Fare Co-op into additional markets
This helps support the growth of your share value as Fare Co-op works toward its 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 and fleet owners to own the very vehicles that will shape the future of transportation.
Important Clarification for Full Members
Once the maintenance fee is in effect:
Fleet owners who remain current on their maintenance fees will continue earning 90% of platform profits and will have their share value continue to grow alongside Fare Co-op’s expansion and planned IPO appreciation.
Fleet owners who stop paying their maintenance fee will have their profit share reduced from 90% to 55% until all outstanding maintenance invoices are brought current.
Any requests for temporary exemptions from maintenance fees will be reviewed on a case-by-case basis by the Federation.
Refund Policy – Full Membership
Full refunds are available only within the first 3 days of purchase.
After 3 days, no refunds will be offered under any circumstances, because membership proceeds are immediately reinvested into Co-op growth, including insurance, marketing, app development, airport fees, compliance, and operations.
Additional Fleet Requirements
To qualify as a fleet, the following requirements must be met:
Fleet owner must have a valid business license and comply with all required state, municipal, and local regulations, including valid commercial fleet insurance.
All participating drivers and vehicles must upload required documents into the app, including driver’s license, personal auto insurance, license plate, and vehicle inspection if applicable.
Fleets must be registered through the Fare Co-op Partner Portal: https://partnernew.fare.coop/auth/login
Profit Share Notes
Full fleet shareholders earn 90% of platform profits, paid biweekly via ACH, minus a $1 ACH transfer fee.
Fractional shareholders earn 55% of platform profits.
