My experiences with Rideshare

My Car as an investment
My Car as an investment

Your car is your investment.

Sounds strange but it is true. When you start with any ride share company, your car is your investment. When I got into UBER and LYFT, I got into new car payments. My friends and associates told me that there was money to be made so I signed up with those companies with the idea that I was going to make some fast cash. Dreams, visions and excitement were at a high point and I started to make plans on how to get out of debt.

The ride share industry has its pros and cons. After doing this for a little more than a month, I did make some money. I did pay some bills but I, also, found out that the grass is greener on the other side. I want to share my thoughts with you concerning getting involved with any ride share company. You may ask--Do I have any regrets? No. I managed to make my car payment and that was a nice side benefit of the job but there are other factors to measure when jumping into this profitable but delicate business.

Invest your time.

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Are you willing to invest some time?

When working in any ride share company, you got to ask yourself this question---Am I willing to spend some time learning the ropes? As a former taxi driver, twenty years ago, I drove for 12 hours on a leased cab for the first time. By the time I got through with the gas and the cost, my take home pay was $15.00. That was enough to make anyone quit but I hung in there. The first thing I did was change taxi companies and I started to make some money. I have to admit, on some days,it was feast or famine. Some days were better than others,yet I stayed the course.

Over a period of time, I was so blessed. I had learned the ropes and made some good money. After two years, I was the number one cab driver making the most revenue. I, then, had to move on to another stable job but that was an achievement that I will, always, treasure. I managed to stay there and see some progress during my short, but edifying years in the business. Now, more than twenty years have passed and I am back behind the wheel. I have gotten a little rusty but, sometimes, my former taxi driving skills will kick in.

Here's a tip---Don't expect to make too much money overnight. Use your time to learn the ropes and stop being negative. Had a bad night? Don't worry, tomorrow will be better. Uber and LYFt have some great training tools on the peak hours to work. Morning and evening rush hours are the best times to work as well as the midnight hours. The neat thing about this is that it affords you the possibility of taking breaks in between. Take a nap, do some chores, etc on the slow hours. Be willing to invest long hours and learn from your mistakes.

Treat your passengers right!

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Your ratings determine your future....

One of the pros and cons is the ratings. Companies like Uber and LYFT use the rating system and for the most part, your score has to be high. A five star is what they base themselves and anything lower than a 4.70 (Some companies ratings may vary) is not good. Some will work with you and others may drop you like a bad habit. Granted, you may not please everyone and it is to your benefit to inform the company of the other side of the story. If you don't like this type of pressure, maybe this may not be for you.

On the other hand, if you have some people skills and offer some bottled water, this goes a long way. Granted, if your score falls a little, just keep on practicing some good people skills and I guarantee you it will go up within time. The pro of driving for ride share is that you can drive anywhere in the state you are in. That to me, is a plus, because you can always venture out and try the "waters".

My two-cents on Rideshare.

Closing thoughts.

As I close, I would say that driving for ride share is a great way to make some side money but I would not recommend doing it full time, unless you are willing to spend a long time on the road. You got to ask yourself, am I willing to work 14 hours and six days workweek? So, there you have my thoughts on ride share.

Bear in mind, that you are an independent contractor and while you are covered with their insurance, it is, only, good from when you pick up the customer to their point of destination. Ride share is beginning to catch on with the insurance companies and some have affordable rates. Please do not rely on that the ride share will cover you. Their deductible is high and it may take some time before your car may be fixed in case of an accident. I have heard some horror stories, so a word to the wise---Protect thyself.

Also, taxes are your responsibility so it is up to you to consult some accountant or attorney to know what is deductible. Face it, folks, ride share has revolutionized the transportation system and even some cab drivers are registering their vehicles and using this system. Ride share like Uber and LYFT are here to stay and it can be very competitive. So a word to the wise, take this into account and look before you leap. That is my two cents, folks. Hope this helps.

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TytheLyftGuy 3 months ago from USA

Download the Lyft app today at www.lyft.com/invite/FREERIDE411 and get $50 in free rides. Use Promo Code:

FREERIDE411

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