- Personal Finance
How to Earn Money with Uber
Uber is another word and business that translates into a "personal" taxicab service. The service allows for a person to sign up and use their car to give rides to those who use Uber. The car must be 2005 or newer, nice. Sign up includes license, insurance, that you must have and prove. Once accepted, the driver is sent a new Apple iPhone 4S to find where the demand is for riders and locations. The phone can ONLY be used for this purpose, so, you still need your own cell.
Basically, you can accept or not accept any riders call for need. But, if you accept you must do it and the rider will rate you. If you have many poor ratings, your 4S can be disabled. When in operation, Uber will notify a driver but only those closest to the rider, you will receive a notification via the iPhone and you can accept or not. It is that easy. You drive to the spot and make sure the person waiting IS the person and proceed. Both parties will know who to expect. The rider will know what the driver looks like.
Where does it work?
Many large urban centers across the USA, such as San Francisco. LA, San Diego, NYC., etc. Now, even within the centers, most demand seems to be focused in the financial districts of a major city, the further you are away from this, the less demand there is. Major international airports are also high demand places. If you live even 30 miles from an urban area, there may be no demand or very spotty. Uber works best in urban zones, rural or small cities (200,000 or less) not so much.
How much can you earn?
The minimum fare is $8.00. The amount earned per mile over 11 mph is $2.75 and 55 cents for less than 11 mph. The base rate is $3.50. Depending on the area, Uber will take between 10-20% of the total fare, which is automatically deducted electronically from the rider's account, so there is NO cash or credit cards used.
So, as you can see, Uber can give you considerable amounts of money in high demand areas. Even taking a rider just 10 miles in 10-15 minutes, the drive can pocket $20. Some Uber drives are flat rate, like between SFO and the city of SF (not very far) yields $50, the drive would pocket $40.
Good income can be made with Uber IF you live in the right place. If you have to travel a considerable amount to get in the high demand areas, that is at your expense. Uber does not pay any money for a driver to travel to the rider, only from the rider pickup to their drop off.
For Uber to work, it is all about the driver's location residence and how far they are willing to drive to high demand areas to find riders.