If you’re looking for a lucrative engagement that is both flexible and convenient, try becoming an Uber driver. It’s one of the few professions that offer you the freedom of working during your preferred hours and under your own terms. But before delving in, you must know your way around the ropes. For instance, if you don’t own a personal car, Uber can help you lease a vehicle for your ride sharing business. The operating fees also vary, depending on how many rounds you make. Check this out if you want to know more about Uber fees.
Here are 5 things to ponder before signing up as an Uber driver:
1. Uber takes a sizeable commission from your earnings
Recently, Uber has been lowering their ride prices across the board. As a result, Uber drivers have been earning much less than before. In addition, it was previously believed that Uber takes a mere 25% commission on fare prices. However, extensive studies have unearthed that there are a myriad of extra fees that are charged by rideshare companies, escalating their commissions even further. When the ride fare is low, Uber’s commission increases significantly. If you desire to earn more, you have no choice but to put in more time.
2. Maintaining a remarkable Uber rating will improve your reputation
If you’ve travelled via Uber before, you probably noticed the rating system that appeared on your Uber app. This system prompts you to rate your overall ridesharing experience. As a driver, you ought to be in your best behavior. You should also be a people person. This means that it is important to be friendly and try sparking an interesting conversation with the passengers. After the ride, both parties can effectively rate each other using a 5-star scale.
3. Consider the supplementary costs
Uber drivers still need to eat, refuel their vehicles and clean out the interiors. Such costs should never be overlooked. Your car will also experience wear and tear once you start carpooling, so it’s a great idea to track your car mileage – especially when you’ve just started. A full-time Uber driver working for 50+ hours can easily clock 1,000 miles every week. Learn how to fill the 1099 forms so as to steer clear of extra IRS charges. More importantly, learn how to minimize costs and save your hard-earned cash.
4. Find a good work-life balance
Uber drivers enjoy a lot of flexibility. You can work for certain hours and then work on other commitments afterwards. However, a vast majority of Uber drivers offer 24/7 ride sharing services. Admittedly, this can alienate you from friends and loved ones. Rather than dedicating all your precious time to Uber, create some time for those close to you. After all, no man is an island. You need as much love and support as the next person.
5. Familiarize yourself with peak hours
The ridesharing business is great. There are certain hours that drivers can maximize their earnings. During these hours, the demand for ridesharing increases dramatically, prompting fare rates to rise. Most peak hours occur early in the morning or late at night, especially during festivals, concerts, conventions, sporting events and similar occasions.