The Chicago Drivers Guide to Rideshare Profits: Follow the Money/Location Matters
Location Location Location
The familiar mantra "location, location location" is used to explain business success with regard to everything from real estate to restaurants. And guess what? The proclamation most definitely applies to the rideshare industry, the relatively new transportation on demand service offered by Uber and Lyft. It doesn't take a genius to understand why these companies tend to locate themselves in urban markets as opposed to vast thinly populated regions. Location matters.
How to Follow the Money
The best locations for drivers to get rideshare dollars have an abundance of what I refer to as "go to" qualities. The term go to quality refers to characteristics of and places within a given locale that make it a profitable area for a driverpreneur. (driver/entrepreneur) An example of a " go to" trait is a large number of people who frequent a given place. A convention and business draw such as McCormick Place provides an example of a "go to" place. So, for drivers locations with a wealth of go to qualities are the places to...go to.
Locations with the most "go to qualities" (gtqs) are the prime areas with which to drive. Chicago has 10 prime locations featured in accompanying articles. The 10 featured are not the only prime turf in Chicago-land. University Village and the O'Hare region are examples of prime areas that I haven't highlighted. However, It is not possible to do justice to every gtq pocket in Chicago. As such,I limit discussion to 10 prime locations
Here, the go to qualities are defined. The drivers who go to areas with these qualities in abundance should get many trips and chances to earn good money.
Go to Qualifiers
The way to get around Chicago and earn a good piece of rideshare revenues is to cruise the deep streets. The revenue deep thoroughfares are either rideshare magnets or lead to such places.
Lake Shore Drive
Red Hot Rideshare Magnet Zones
This is just as its long winded name suggest. These are locations that are hot spots for attracting riders and their rideshare revenue. Whereas it’s true that other dq’s such as happenin’ housing and hotels share the magnet factor, the zones occupy an area as opposed to a single place.
Clybourn Ave Metra Station
Transcendent Transportation Hubs
Transportation hubs are everywhere. Furthermore, these are typically good for business. However, some among the transportation platforms are especially prolific for cashing in on rideshare revenues and as such transcendent.
24-7 r (reliability) factor
It doesn’t matter whether it’s 3 a.m. or 3 p.m. business is there. A driverpreneur like myself can stay busy whenever I visit a 24-7 r factor location.
The Prime Place 10
3 Hyde Park
5 Lincoln Park
6 Loop (the)
7 River North
8 South Loop
10 Wicker Park
Off Peak Hour Options
Business is good everywhere during morning peak hours. People go to work , school and transportation hubs whether they’re in the upscale Gold Coast or a mom and pop enclave. Places that provide a reason to drive between peak periods are special.
Many and the Money
Chicagoland has certain locations that offer driverpreneurs both good quantity and good quality of rideshare revenue trips. The enterprising among us can run several trips within the confines of a community and follow this with a cash whopper trip to a distant place.
A singular residential location such as a multi-unit apartment building, condominium or hotel that provides repeated business is valuable real estate in the rideshare stratosphere. I often tell passengers destined to such places that I’ve dropped off some of their neighbors. In fact, some buildings are so good that pickups often occur immediately after drop-offs.
People visit Chicago to see certain places. They want the deep dish pizza, big name restaurants, landmarks and other icons that yell out Chicaguh. Needless to say, such places are good for business.
The more gtqs the better the potential for rideshare income. These are the characteristics a driverpreneur like myself look for when trying to get richest rideshare revenues.