Safety is always a top priority when on the road, especially when transporting passengers. The next most important aspect of working for a rideshare company involves maximizing your profits.
Maximizing your profits is possible by using multiple money-saving methods and strategies. If you are renting a vehicle through Uber or Lyft it is advisable to choose an automobile with excellent fuel economy ratings. Gas is expensive, point-blank. The less fuel you burn up while driving for a rideshare company, the more money you will make in the end.
Driving all day presents other expense issues some people initially overlook. It is inevitable you will get hungry during your shifts. This is especially true for drivers who work longer days. Keep some basic snacks in your vehicle such as peanuts, crackers, gum, protein or granola bars, etc. also keep non-alcoholic beverages on-hand. Supplying yourself with store-bought food items helps prevent the urges and need to purchase drive-through fast food meals each day you are working.
Sometimes, it can be too expensive to purchase fast food or restaurant takeout meals each day, especially when one meal might cost an hour’s wages or more. Losing money to on-the-go food and beverage purchases is a challenge for all rideshare drivers to overcome. Planning ahead for such things helps you save a lot of money, even as a new rideshare driver.
Another issue common to all rideshare drivers is the need to find clean, accessible bathrooms. If you drive in a large city such as New York, Los Angeles, Miami or Boston it might be challenging to locate free bathrooms where there is also free parking.
If you have to pay for parking every day just to use a bathroom, the profits you earn from your paycheck will be partially absorbed by parking expenses.
One way to solve this problem involves taking the time to research the areas in which you drive all day. Look at Google Maps and make phone calls to find pivotal locations on your driving routes where parking is free and bathrooms are fast and easily accessible.
Another way to maximize your profits is to make sure you are available to accept fares at the right times. A delicate balance must be obtained. Both Lyft and Uber will monitor how much you make yourself available during your scheduled shifts.
Surge fares are collected during limited peak times every day. Surge fares are specific times of the day when customers collectively order the most rides.
Some drivers only turn on their systems during surge fare windows, thinking this is the best way to make the most money. Both Uber and Lyft see this and reduce work and hours for drivers who use this strategy. It is vital to be available for almost the full time allotted to your shift.
This builds credibility with the rideshare company you work for and helps maximize your profits in the end. Balancing full-shift and surge-fare availability helps some drivers earn more than six figures per year when working for Lyft, Uber or another rideshare company.