I thought about it earlier this year when I found myself on my financial ass. But yesterday, I actually did it. I signed up to be a driver with Uber. And today, I did some preliminary research and some conservative revenue planning. All I can say is Uber Sh!t, Batman! Uber income could be just the ticket.
I found some very interesting statistics (that I haven’t fact checked but will assume some validity.)
- Uber has a near lock on the US hailing market, between 84-87%.
- There were about 160,000 active Uber drivers
- There are about 50,000 new drivers added to Uber’s roster each MONTH.
- Uber has completed over 2 BILLION trips
- 78 % of driver-partners said they are very satisfied or somewhat satisfied with Uber
- And here’s the kicker, only 14% of Uber drivers are women
It’s tough to get a handle on how much Uber drivers make but based on my personal interviews of many Uber drivers, it seems that it’s a viable way to supplement your income. The people I talked to who are using it as their sole income admit they drive long hours, know the “tricks” for getting more riders, and understand peak hours and hot spots. I definitely fall into the first camp.
7 Reasons I’m Considering Uber Income
- Being my own boss sounds great. Work can be when I have time and inclination.
- The supplemental income will be very helpful.
- I lived without a car for nearly a year. It will be nice for me to help others in similar situations. I was once “rescued” from a bad date by a cute and compassionate Uber driver and think it would be fun to be someone else’s Uber-Hero.
- It’s a green thing. I live in Los Angeles county and I am a staunch advocate for any effort that reduces air pollution and traffic.
- All this diverse human reaction will be fodder for this blog and future projects.
- I’ll likely see new areas, neighborhoods, and learn my way around town a bit better.
- Quite simply, I like to drive.
So far signing up is easy. The next step is getting Itsy (my Prius) inspected. My revenue goals are modest. I hope to earn enough to cover my monthly car payment ($272) and additional gas expenses incurred. So, making some grand assumptions, I’ll aim for $300 per month. At an average $10 a ride, that’s 30 trips. I wouldn’t want to drive more than 6 days a month. I’ll need about 5 trips for each of those 6 days. Seems reasonable, right?
We will see. I’ll keep you posted!