Making Money By Ridesharing

What Is It?

By leveraging an app, like Uber, you pickup up people in your vehicle and drive them around for a fare.

How Does It Work?

After a vetting process, such as a background check and ensuring you have a vehicle that fits the apps requirements, you then use the app on your phone to set when you are available for picking up rides. When someone books the ride they can choose from local available drivers. Then they set their pickup address, their destination and the app determines the fares and takes care of all the payments automatically. You then drive them to their intended destination and drop them off. At any time you can stop when you are working, making this quite flexible.

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Something to keep in mind is that you can’t see someone’s destination before you pick them up. This means that you might not know someone wants to go for a 30 minute drive completely out of your way.

This is very similar to food delivery apps and some drivers do both of them based on where they are currently located.

How Much Money Can You Make?

$500+/month depending on the hours you work, how long the rides you take and if you work during busy periods as the apps typically charge people more during this period. Drivers keep the majority of the fares they charge, anywhere from 70%-80%, but they also need to pay for their own vehicle maintenance and gas. After factoring in expenses and the average ride length, drivers can make anywhere between $15-$20/hour.

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Apps/Websites

  • Uber
  • Lyft

Tips

  • Make sure you and your vehicle fit the qualifications. For example, with Uber according to RideSharingDriver, your vehicle needs to be no older than 10 years old and pass a vehicle inspection. Food delivery apps typically accept older vehicles, so you could always look at that as well.
  • Newer and larger vehicles can charge higher rates. Even an older minivan, like a 2009 Dodge Caravan, can apply.
  • Passengers rate their drivers and that influences which rides they take, so make sure your vehicle is clean and respectful during the drive.
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Categories: Decent Income

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