The concept of rideshare driving isn’t new anymore, but it’s still something that’s misunderstood or at least not fully understood by a lot of people, particularly on the driver’s end. If you’re considering becoming a rideshare driver, there are some great resources available to help you learn more.
The following are some of the biggest things to consider if you’re thinking about being a driver.
Is Ridesharing the Best Option?
Before going into the specifics of rideshare driving, are you sure that’s the route you want to take? According to Ridester, drivers who are doing deliveries for services like Postmates and in particular, Amazon Flex, are actually outperforming people who drive passengers financially.
As an example, with Amazon Flex the overall concept is very similar to driving for Lyft or Uber, but you’re picking up items from a warehouse or designated location and delivering them to customers. There are even useful Amazon Flex bot apps that automatically grab the blocks for you, thus making the whole process more efficient.
Along with comparing earning potential, you might want to think about Amazon Flex if you’re not comfortable taking passengers, although for a lot of people interacting with the passengers is a perk of being a rideshare driver.
Full vs. Part-Time?
The concept of driving full or part-time applies not only to rideshare gigs, but also delivery driving. The recommendation is that you keep your day job and drive part time because this tends to offer the best earning opportunity.
For example, many drivers say they earn more just working 10 to 15 hours a week instead of trying to do it full-time.
This allows them to focus exclusively on the peak times rather than during the day when requests are low.
Peak times can vary depending on where you live so you might want to do a little research to see when it would be most advantageous for you to drive. For most drivers, it’s going to be late nights or very early mornings, but of course, it just depends on where you live and what’s going on at any given time.
Expenses
Whether you’re driving for a rideshare or a delivery service, you’re an independent contractor which means that you’re going to pay for your expenses. This means you’re going to have to make sure your car and insurance are kept up, and you’re also going to have to pay federal self-employment taxes. There are also special legal considerations that are involved in a rideshare accident which could increase your expenses in the event of a wreck.
Taxes tend to be one of the bigger shocks for drivers, particularly if they’ve never worked as an independent contractor before.
Sign Up with Multiple Companies
Finally, if you want to maximize your earning potential, then you should try to sign up for multiple companies. You might want to sign up for both Uber and Lyft, and maybe even sign up for Amazon Flex as well. This will give you opportunities to maximize your earnings when one or two of them are slow. With that in mind, you will have to make sure you’re qualified to drive for all the companies you sign up for since requirements vary, but if so, it can be good if you want to earn more.