Becoming a Uber or Lyft driver can be exciting for most people because it gives them the freedom to be their own boss. Not only that, but you can make a lot of money in a short period. But to make the most out of your new entrepreneurial venture, you’ll need some expert tips.
A lot of experienced drivers learned a lot of the following tips through trial and error. However, you can cut through the growing pains and earn more instantly by taking their advice.
1. Keep Track of Your Expenses For Tax Purposes
Rideshare tax deductions, like work meals, vehicle depreciation, and tolls, are easy to take advantage of when you’re a driver, but you need to keep your receipts to write them off. We recommend knowing what deductions are available to you to track them early.
2. Avoid Heavy Traffic As Much As Possible
One of the reasons people prefer rideshare over taxis is because the rate quoted on the app is generally what they’ll pay. While this is perfect for the passengers, this can kill your profits if you’re stalled. To make the most money possible, avoid traffic and keep your car moving.
3. Let Drivers Come to You (Don’t Wait at the Airport)
Driving around for a new customer or waiting in long queues at the airport is the worst way to make money. Not only are you wasting gas, but you’re potentially missing out on other, more high-paying customers. It’s better to pull over to park and wait for the requests to pour in.
4. Wait in Large Areas or Near Popular Streets
If you live in the suburbs or park in your parkade to wait for the next customer, you’ll miss out on several paying passengers. The best way to play the rideshare game is to keep customers in your car, which requires you to position yourself near popular streets and large areas.
5. Take Breaks (Don’t Drive Until You’re Burnt Out)
Entrepreneurs of all stripes often work themselves to the bone because they feel pressured to do so. However, you should never push yourself to keep driving as it can cause harm to your physical and mental health. Take an hour break for every 3 hours you drive to de-stress.
