Passport Income

Business

Is Uber a Good Way to Make Money?

making money with uber

What is Uber?

Uber is a private company that doesn’t own cars, but owns the technology that allows regular people to use their private cars as taxis.

who drives for uber

Who drives for Uber?

Nearly anyone can drive an Uber, as long as they pass the background check. Different municipalities require safety inspections, business licenses, and car stickers. Car requirements also may vary city to city.

driving for uber

What are the requirements to drive for Uber?

The requirements to drive for Uber vary in different places, but every driver must have a car and smartphone or tablet. Uber used to provide the smartphone for free.

uber drivers make money

Is Uber the best company to drive for?

Most Uber drivers also drive for Lyft. The two are similar in many ways. Which pays better can vary city to city, but Uber usually pays better. You could make more money driving for a private car service, but that’s more of a job and less flexible.

lyft the other choice to uber

What are alternatives to Uber?

If you’re looking for the alternative to Uber when it comes to driving, Lyft is really it. There are other driving companies, but most have stricter car requirements. Lyft has less strict requirements than Uber, so if you don’t qualify for Uber, you may still qualify for Lyft.

what you make driving for uber

How much money can you make driving for Uber?

There are some articles that say that you don’t make much more than minimum wage driving for Uber. If you figure out the exact best times to drive in your local area, you can maximize your income, but there’s definitely a cap.

Uber prices rise based on how many people need rides compared to how many drivers are available. This makes rates unpredictable. You may think that a busy drinking holiday like St Patrick’s Day would be a great day to drive, but if many other Uber drivers decided to drive, then the rates wouldn’t actually increase.

You can make more money driving for Uber if you have a nicer car. Offering water or snacks is also helpful in increasing tips.

Driving for Uber may make you enough money to live if you have very low expenses, but beyond that, it’s more ideal as a “side income” job.

uber lyft driver earnings by city

What are the downsides to driving for Uber?

The drawback to driving for Uber is that the best money is often at strange hours. People need rides home after going to the bar, after events like New Years Eve festivities, and in rush hour traffic. The times that make the most money are the times that other people are having fun or don’t want to be driving. In order to make the most money with Uber, you’re probably driving when no one else wants to.

You’re also at the whim of the Uber CEO. He can change what percentage you get of your rides at his own discretion.

Are there better ways than Uber to make money?

There are benefits to driving for yourself, but you’re often stuck working weird hours or driving drunk people. For true time and economic freedom, finding the right online business is better. That way, you can work on your own terms and set your own income, without limits.

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