If you are thinking about joining Uber as a driver then the most important thing you’ll have to consider is how much you could possibly earn. The taxi service that uses crowd-sourced drivers with their own cars is very popular with users but it occasionally gets into trouble with governments as well as taxi associations.
Uber claims that its drivers are able to make a very good living, but responses from actual drivers have been mixed. Even so, it’s a good idea to consider becoming a driver for Uber if you have a car and time to spare. Do consider the following factors first:
• There is great potential to earn money here, and you will earn more if you take more customers.
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Whether you choose to drive part time or full time is up to you and your money requirements. You do have to contribute towards social security and taxes and since you are self-employed you’ll have to do this on your own.
• It is possible to increase your profitability by
– Operating your service during peak demand hours
– Using a fuel efficient vehicle
– Providing excellent service so that you get a very good rating which leads to more customers
• You will have to pay a commission to Uber, and this depends on how much business you do through them.
• The operating costs of the vehicle will also have to be borne by you. Not only will you have to buy fuel for the vehicle but you’ll also have to pay for repairs and maintenance at an accelerated rate because of increased usage. There will be greater than normal wear and tear on tyres and brakes and you’ll also have to change the oil in your vehicle very frequently.
• Your car will depreciate in value over time and this too adds to your costs.
• You’ll need to buy vehicle insurance
These might indeed seem to be a whole lot of costs but the Uber service does give you the opportunity to earn a fairly decent living if you cannot (or do not) want to be stuck to a 9 t 5 job. This service gives you complete flexibility to operate whenever you want. However, you do need to study the issue carefully before you decide to commit to this career since you’ll need to work very hard to make a lot of money. There is immense demand for Uber rides and if your cab has a good reputation you will earn good money.