During the past couple years, we have witnessed the rise of Uber. It has blossomed into a huge company that basically covers most of the country, and it is rampant in urban areas which drives taxi competitors crazy.
It is possibly one of the best ways to make extra cash on the side. It is easy to become an Uber driver, and there is a high demand at cities, colleges, and anywhere with people who hate walking.
The main incentive of Uber is making money. During its initial stages, Uber drives could expect to make a rate of around $20,000 a year, but these wages have been cut since then. With that being said, there are some ways to maximize profits as an Uber driver. Here are five ways to reduce costs and increase revenue with Uber.
Power Driver Plus
This is a program offered by Uber that rewards its drivers for their productivity. Cash rewards can be earned for completing a certain number of rides, and there are multiple milestones to reach. For example, completing thirty rides gains the driver an additional $50. Completing 120 rides earns the driver an extra $500.
There are multiple eligibility requirements to consider if you want to qualify for this program. Additionally, this program is only available in select regions.
Drive a Four Door Car
Most Uber drivers are going to experience three or more people, so the best idea is to have maximum space. Having at least four or more open seats is ideal. The car is much more marketable to potential passengers, and the overall ride is going to be more comfortable which could lead to a better tip.
Drive on the Weekends
This is an easy one. Tons of people drink alcohol on the weekends, and drunk people needs rides. Demand for Uber rides increases greatly on the weekends; consequently, the volume of business for an Uber driver is going to increase. More rides means more money.
Know Where Free Parking Is
One way to make more money is to save more money. The best way to save money is decrease expenses on the job. The biggest expense for an Uber driver is the gas tank. Refueling is expensive, and every second of driving costs more money. With an empty car, you are only losing money, so the best idea is to find a good post up spot. Since parking usually costs money, the ideal places to find are public bathrooms. Parking there is normally free of charge, so it is the best way to cut down on expenses.
Do Not Drive in Search of Passengers
One of the fatal mistakes of an Uber driver is seeking out passengers. Since the Uber app looks for drivers within a radius, many drivers try to drive around in order to get picked up by passengers’ smart phones. There is a good chance a driver will drive a long way to a passenger who needs a short ride. These trips are not worth it. Uber drivers would do well to stick to one higher traffic area outside of suburbs and rural areas.