Do You Want To Know How Much Money Can You Make With Uber?
Once we answer the question about how much money can you make with Uber, I’ll show you a little known secret on how you can make even more!
Did you know that in the United States Uber claimed to have over 750,000 drivers and over 2 million worldwide?
Those 2017 numbers are probably a lot higher today.[i]
Anybody thinking about becoming a rideshare driver with Uber will want to know how much they can make with Uber, that’s normal and expected.
After all, if you are not earning more by working with Uber than some other way to spend your time, then you shouldn’t be driving with Uber!
Estimates about how much money Uber drivers earn vary wildly. As with most businesses, a minority of drivers make much more than most drivers.
The number of passengers you carry or the fares that you charge is only a part of the equation when it comes to figuring out how much money you can make.
Two drivers in the same location, with the same number of passengers and even identical rides, will make a different amount of money.
One driver might be making great money the other just getting by, or even thinking about ending his ride sharing business.
Why would that be? What can a Lyft or Uber driver do to make sure he is making the most money possible?
It’s not The Fares – It’s the Costs!
In almost any business and working as a ride-sharing contractor is your business, even if your clients come through an Uber branded app, the costs are what determines your profit.
If you want to make twice as much money as you do now there are two ways to do it:
- Provide double the number of rides that you do now.
- Reduce your costs by half.
If you are already busy, then it is tough to increase the number of passengers.
It would be best if you reduced your costs and, very often, it is much easier to cut expenses than increase your revenues.
Uber, quite reasonably, charges its drivers for the services it provides. What is less reasonable is the amount of money they take from drivers!
Uber takes around 30% of all revenues, apart from tips, that come through the Uber app. So, the more money you earn, the more money Uber earns.
For most drivers, the fee paid to Uber is one of the biggest single costs. The fees paid to Lyft and Uber are not usually under the drivers’ control.
A traditional taxi company typically charges its drivers a flat fee, often tied to the rental of the taxi meter.
Uber’s system is excellent for drivers who do not work many hours and so do not provide many rides.
A full-time, busy driver, the kind of driver who earns the most money, will be paying a lot of money to Uber.
A busy driver will pay much more than a taxi driver who rents his taxi meter for a fixed weekly or monthly payment.
Of course, most people do not want to be taxi drivers; that’s why they work with a ridesharing operator such as Uber or Lyft.
The problem is that 30% of $100 is just $30, but 30% of $3000 is $1000, and that seems unfair.
Uber does the same amount of work for a casual part-time driver as for a busy, hardworking, full-time driver. The app does almost everything at negligible cost to Uber.
Lyft charges a lower commission but keeps all the booking fee paid by the rider, this means that short journeys are even less profitable for Lyft drivers than for Uber drivers, but both companies penalize short rides.
For example, it has been estimated that, in some circumstances, a minimum fare can cost the driver as around 50% of the money paid by the rider![ii]
That doesn’t seem fair!
For your business wouldn’t it be better if you were able to pay a single flat fee each month and then keep all revenues?
For example, if you were paying $200 per month to be on a busy ridesharing system, you would be better off than with Uber after just $600 in fares.
Of course, if you are doing a couple of hours a week, then such an arrangement is no use to you.
A flat fee only benefits drivers who treat their ridesharing business professionally and work at it.
Driving For Uber And Lyft Is Tough!
According to Indeed.com’s salary survey, the average Uber driver makes $3,751 per month.[iii]
That number includes full-time as well as part-time drivers and, of course, varies according to the area of the United States.
Because you are reading this article, you are probably serious about ridesharing as a way of life and business.
Normal is not where you want to be, but using the average income of $3751 as a guide, you can see that paying a flat fee is much better than paying Uber a commission for every ride they send you.
Here’s how that works out:
If Uber sends you $3751 in rides during a month, then they have already taken $1609 in commissions from you.
With Tryp, a new ridesharing platform that charges a flat monthly fee to drivers you would be $1409 better off!
Each month, as just an ‘average’ driver you’d be earning $5360 each month compared to $3751 if you worked with Uber!
Almost 17,000 dollars per year without doing a stroke of extra work!
How You Can Take A Tryp
Tryp, the new rideshare company, mentioned above, has applied for licenses in 900 markets across the United States.
Tryp has a different perspective on ridesharing that benefits both riders and drivers. As with Lyft and Uber, drivers are independent contractors, but unlike the major companies, their system is designed to be fairer to drivers.
A driver signing up right now pays a flat fee of $199 at the end of the of each calendar month allowing drivers to earn 100% of the fair, tips, cancelation and booking fees up front after the first to the last Tryp passenger had taking a ride.
As soon as a Tryp driver has received more than $400 in any one month, the driver will start making more money than they would by driving for either Uber or Lyft due to the much more equitable flat monthly fee Tryp charges.
Unlike Uber or Lyft, Tryp drivers get paid directly from the client into their own merchant account.
Tryp does not withhold any money for ‘safety fees’ or ‘booking fees’ meaning that drivers see the full fare in their merchant account within minutes of the passenger getting out of the car at the end of the journey.
If you need extra money for an unexpected expense, just get in your car, open the Tryp Driver App, and immediately start getting the cash you need – no waiting, no withholding, no hidden fees.
As a relatively new business, Tryp is not yet available everywhere, but with 900 license applications across the United States, there’s a good chance that if they are not already operating in your area that they very soon will be.
If you are already driving with Lyft or Uber, or you are planning to start as a rideshare driver then the Tryp package should be something that you look at – after all, we all like to earn more money without any extra work!https://www.ridester.com/how-many-uber-drivers-are-there/ [ii] https://www.ridester.com/uber-fees/ [iii] https://www.indeed.com/salaries/Driver-Salaries-at-Uber?period=monthly