Making Money With Uber
Uber made waves when it revolutionized transportation services since its official launching in San Francisco in 2011. To this date, it has expanded to major cities all over the world and has grown rapidly to a $51 Billion valuation. Several other companies have emerged and followed suit, although Uber’s popularity seems to make it the name to beat.
The requirements are simple: you just need to be at least 21 years old, own a car, and have license to drive. All registration is done online at your convenience. They will evaluate your application and once approved, they will provide you a smartphone with the Uber app (if you don’t already have one). Then, you’re all set. Drive and get paid!
Can you make money?
In its website, Uber has claimed that it “now helps tens of thousands of people around the world earn income as drivers.” But how do you make money with Uber? Or the better question would be, can you really make money with Uber?
The key to earn is to be your own boss. But the statement “Be your own boss”, while being overly promoted by Uber, seems to be just a fancy way of saying “No one’s gonna scream at you for deadlines or quotas but no one’s gonna pay you if you don’t get to work.” Being a boss, and a good one at that, requires discipline and some creativity. We have outlined come useful information below that could help on your way to earning up to $20 an hour that Uber promises.
Vehicle assistance. If you don’t have your own car, Uber can connect you to companies who can provide you with special discounts for vehicle financing. That’s regardless of personal credit history. You can take this benefit to your advantage.
Proper computation of tax cuts. Uber hires partner drivers as independent contractors, which implies two things: first, you work under minimal guidelines from Uber and second, you compute your own earnings and tax cuts. In computing for your taxes, make sure to include the high mileage (brought about by being an Uber partner) that is depreciating your car. Take into account as well your expenses such as gas, maintenance, and repair. This will be considerable savings on your tax cuts.
Rewards program. In late 2014, Uber has launched Momentum Partner Rewards to recognize the significant contribution of its partner drivers in the success of the business. Perks include health insurance recommendations tailored for an Uber partner driver’s needs as well as discounts on wireless carrier services and major vehicle maintenance shops.
Tips and tricks
- Drive around in strategic locations when and where there is high volume of Uber passengers. Observe patterns of demand in your area so that you could decide when to get to work.
- When you are not at work, turn off the driver feature as Uber counts how many times you reject a request.
- Work on your driver ratings by improving customer service and navigation skills, among others.
- Understand what your customer needs. You can try to be a passenger so you could gain firsthand experience.
- Read about experiences of other drivers, preferably one that is not biased to get honest information.
- Always be in the know for Uber’s latest updates to terms, conditions, and services. Communicate with their support staff if you foresee concerns.
The answer is…
Yes! You definitely can earn with Uber and hopefully this has fired you up to get started. Take the wheel and drive, boss!