WAKE FOREST PUBLIC TRANSIT PLAN
A fare for the rider is assumed for the microtransit service ($2.00 per ride). Therefore, the microtransit operating costs will be offset by the revenue generated from rider fares. To estimate likely fare revenue for the service, modeling of the planned service is needed, however, the project team has made some assumptions to demonstrate potential revenue to Wake Forest for operating the service. Table 12 summarizes potential ridership levels for the microtransit and resultant farebox revenue. The 2022 ridership on the WFL is used as a basis for the potential microtransit ridership, and then factored by 50%, 100%, and 150%, for an estimate of potential low, medium, and high ridership. With these assumptions, the fare revenue for the microtransit service is between $20,200 and $60,600. Table 12: Potential Microtransit Fare Revenue Low Ridership Medium Ridership High Ridership
WFL 2022 Ridership
20,200
20,200
20,200
Ridership Factor
50%
100%
150%
Microtransit Ridership
10,100
20,200
30,300
Microtransit Fare Revenue
$20,200
$40,400
$60,600
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