- How Much Do Uber and Lyft Drivers Really Make in 2020?
- How Does Uber Calculate your Pay?
- How Much Do Uber Drivers Earn per Ride?
- How to Start Earning
,100 a Week with Uber
- Conclusions – How Much Can You Make with Uber?
- Debate over Uber and Lyft driver pay comes to a head as Seattle prepares to set minimum wage
- On the table
- Conflicting studies
- Drivers split
- Lessons from New York and California
- Is gig work sustainable?
- Can You Really Make Money Driving for Lyft?
- Making Money Driving For Lyft
- What’s it Take to Be a Lyft Driver?
- Expenses and Other Factors
- What Do Averages Really Mean?
- The Trouble with Downtime
- Paying For Insurance
- The Cost of Fuel
- Wear and Tear on Your Vehicle
- Writing Off Repairs And Miles At Tax Time
- Final Verdict On Making Money Driving For Lyft?
- ==> Sign Up To Lyft And Start Driving!
How Much Do Uber and Lyft Drivers Really Make in 2020?
Some people don’t realize that working as an Uber or Lyft driver gives you the opportunity earn more money than you would think. Even those who already drive may be surprised at how much more they can make.
Some Uber drivers waste time and fuel driving back and forth searching for clients, then complain about low income and say that it’s impossible to make $1,000 a week. In this article, we will show you that it is quite doable, and then tell you how to do it.
How Does Uber Calculate your Pay?
According to Uber, they calculate your pay on a weekly basis by summing up your trip fares, cancellation fees, promotions, referral awards and tolls. They then take away any Uber fees, vehicle fees and device subscriptions where applicable. The total pay is then deposited in your bank account!
How Much Do Uber Drivers Earn per Ride?
This is one of the most commonly asked question: how much do uber drivers make? Uber drivers can make up to $19 per hour, on average, according to a TechCrunch study. This value varies greatly from one driver to another, as it depends on what vehicle you use and where you drive.
As you can see, in Los Angeles the average rate is $16.98, and in San Francisco it’s $23.52. At $20 per hour, you need to work 10 hours per day 5 days a week to make $1,000. But it’s too difficult and tiring to drive for 10 hours a day. The best Uber drivers manage to make a lot of money without applying that much effort.
For example, Nick Arapkiles earns more than $1,000 a week, and shares his driving experiences on . We’ve listened to his advice and added some useful tips to show you how you can do it too.
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How to Start Earning $1,100 a Week with Uber
If you are not yet working for Uber, make sure that you meet the requirements. You must be at least 21 years old with at least one year of driving experience in the USA. If you are under 23, you must have three years of experience.
If you are already an Uber driver, the most important thing is to optimize your working process. In this context, the term optimization means making the most of your physical capacity, and adjusting your working routine to become more effective. Here are some tips for accomplishing this.
1. Prepare for the working day
Make sure you dress comfortably. Your clothes should fit well, as you may spend a lot of time sitting in a car, and uncomfortable clothes may distract you from driving.
Take snacks and water with you so you don’t need to spend time on extra breaks. It’s an open secret that nutrition has a great impact on health condition and productivity.
2. Plan places for breaks
Of course, you can’t sit in your car for the entire day—you need to take breaks, just everyone does. ScienceDaily research proves that a good break can make you more effective. Choose 1 to 5 places in different locations where you can have a good break without spending much money.
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3. Sign up with Play Octopus
It’s a good idea to keep some type of entertainment in your car for passengers. Play Octopus provides rideshare drivers with FREE tablets that come with games for their passengers, along with a free data plan and auto-updates. Over 10,000 drivers have reported earning higher tips, better ratings, and better conversations with their passengers by simply using one of these tablets!
Drivers earn up to $100/month for driving activity and passenger gameplay.
Once you receive your tablet, you’ll gain exclusive access to the Octopus driver community to meet other drivers and share information.
Plus, they do regular giveaways, prizes and bonus points from the Play Octopus team! You will also receive a free $15 sign up bonus for activating your account through this link.
Click here to order your FREE Octopus gaming tablet for your car.
4. Get up early enough in the morning to drive people to work or school
Many drivers sleep late, which means they skip the morning rush hour, one of the biggest opportunities to make serious money. Uber statistics indicate that morning peak time for driving is between 7:00 and 9:00 a.m. If you want to make money, get up early and be ready when your customers need you.
You may as well ride people back home from school and work during afternoon surge. So, don’t miss this time.
5. Use the Gridwise app
Check out our friends at Gridwise, the ultimate rideshare and delivery assistant. It’s a free app for iOS and Android that helps rideshare and food delivery drivers increase their earnings by up to 39% and save thousands on their tax bills.
By downloading Gridwise, you’ll be able to:
- Save time by receiving alerts when passengers are arriving at your local airport and check the queue length from anywhere
- See how your earnings break down across rideshare and delivery services so you know where to focus more of your time on the road
- Compare your earnings to other drivers in your area
- Get alerts about local traffic, weather, and large events going on in your city
- Easily switch between rideshare and delivery apps from anywhere on your phone (Android only)
Click here to download the Gridwise app today.
6. Work on weekends, holidays and during big events
These are when surge times are most ly to happen, so driving during these periods significantly increases your chance to make $1,000 a week.
7. Use the passenger app to see other cars in the area
It’s good to know where your competition is, but as an Uber driver, your app shows only your client’s location, not where other drivers are.
To get around this, just download the Uber passenger’s app, which will show you how close competitors’ cars are both to you and to your potential clients.
If there are too many cars, drive to a different location to increase the lihood of finding a passenger
8. Head to central areas during downtime
During downtimes, the chances of finding passengers are higher in busy urban areas than in suburbs.
9. Calculate and track your expenses
If you want to make more money, you need to track your expenses. Calculate how much you spend on gas, coffee breaks, and other expenditures during working hours. Analyze this information and figure out how you can minimize your costs.
For example, you may notice that over the course of a week you spend too much on buying coffee in shops: $4 a day doesn’t seem that much, but at $5 a day, that works out to around $1,000 a year! Homemade coffee is cheaper, and you may even find that it tastes better too.
Hurdlr is a great tool to use to track your mileage and expenses. Click HERE to get signed up!
10. Drive for other on-demand delivery services
Postmates and DoorDash are just a few of the most well-known brands that cater to the food delivery business.
DoorDash is typically for larger businesses and Postmates is all about delivering good food from various restaurants.
On average, you can make around $10 – $22 an hour with these services.
Delivering groceries can pay up to $25 an hour. Instacart and Shipt are a few companies that allow drivers to get paid to deliver groceries, giving them the freedom to work as many hours as they want on whatever schedule they choose.
Click HERE to sign up with Instacart and HERE for Shipt!
Conclusions – How Much Can You Make with Uber?
average hourly earnings of $19 per hour for Uber drivers, it is definitely possible to earn $1,100 a week. At worst, you will need to work 10 hours a day five days a week, but you can optimize your work and as a result, spend less time driving by following these helpful tips:
- Prepare for the working day in advance to feel comfortable in your car: Take snacks and water, dress comfortably, and don’t forget to do some physical exercise before and after driving.
- Get up early enough for the morning rush hour to drive people to work or school.
- Use the passenger app to see other cars in the area. Monitor where your competitors are and go to areas with fewer drivers to increase demand for your service.
- Head to central areas during quiet times because the chances of finding a passenger in a busy urban area is higher than in outlying areas.
- Take advantage of increased surge fares to make more money on each ride. If you expect a surge period — as rush hour begins, for example — log your Uber app and log in when the surge starts. This will result in a higher surge fare.
- Work on weekends, holidays and during big events because that is when demand for drivers is highest and surge fares occur most frequently.
- Calculate and track your expenses. Monitor how much money you spend on gas, coffee, snacks and so on. You may be surprised how quickly small expenditures add up.
Debate over Uber and Lyft driver pay comes to a head as Seattle prepares to set minimum wage
Driver Eskinder Yirgu promotes Seattle Mayor Jenny Durkan’s FareShare legislation at City Hall. (Teamsters 117 Photo)
Seattle officials are slated to vote on a minimum wage standard for Uber and Lyft drivers on Tuesday that will change the course of ride-hailing in the city.
The vote will cap months of fighting between the companies and the Seattle City Council, academic researchers, and dueling driver groups.
The council will almost certainly vote to adopt a minimum earnings standard for the drivers of so-called “transportation network companies.
” The law is part of Seattle Mayor Jenny Durkan’s “Fare Share” program that already implemented an increased per-ride tax in November.
Stakeholders are divided over how high the wage floor should be. The debate hinges on whether to prioritize full-time drivers who use Uber and Lyft as their primary sources of income or casual drivers who earn extra cash on the apps. But more broadly, the battle reflects the challenge of applying a one-size-fits-all wage standard to an increasingly dynamic and complex labor market.
The wide variety of driver experiences make establishing an hourly compensation standard tricky.
How are drivers compensated for hours spent looking for rides on Uber and Lyft at the same time? Is the priority ensuring full-time drivers earn a living wage? Or should the city ensure parents and people with disabilities have access to flexible, part-time work? The city’s answers to these questions will determine the fate of ride-hailing in Seattle.
On the table
Seattle City Councilmember Teresa Mosqueda. (City of Seattle Photo)
The draft legislation requires transportation network companies to pay drivers at least $0.56 per minute, when there is a passenger in the vehicle. The city says that standard will ensure drivers earn at least Seattle’s $16.
39 per hour minimum wage, assuming they spend about 50% of their time waiting for rides or driving to pick up passengers. The companies will also be required to cover drivers’ “reasonable expenses,” including the cost of gas and vehicle maintenance, as well as compensation for health insurance and PTO.
If adopted, the minimum wage will take effect Jan. 1, 2021.
City officials say they reached out to nearly 11,000 drivers when crafting the legislation. The highest priority that drivers “consistently cited” is the need for higher pay, according to the city. The proposal’s backers say it will ensure drivers make Seattle’s $16.39 per hour minimum wage and allow them to pay for benefits that aren’t covered by gig work, healthcare.
“It’s imperative to make sure that people who are putting their life’s work into providing a service at least have a minimum wage and that’s really what this effort is trying to do,” said Seattle City Council Chair Teresa Mosqueda during a Sept. 15 committee meeting.
The City of Seattle commissioned economists James Parrott from the New School and Michael Reich of the University of California Berkeley to study how much Uber and Lyft drivers earn and to recommend a minimum wage standard. Meanwhile, Uber and Lyft enlisted Cornell University economic historian Louis Hyman to form their own conclusions about how much drivers earn. The competing studies were released on the same day in July.
Parrott and Reich concluded average driver take-home pay is about $9.73 per hour, below Seattle’s minimum wage. They arrived at that figure by subtracting estimated expenses of about $11.80 from gross hourly pay of about $21.53.
Approximately one-third of Uber and Lyft drivers in Seattle work more than 32 hours per week and provide 55% of trips in the area, according to the study.
The researchers estimate their recommended wage standard would improve pay for 84% of drivers.
The Cornell study, by contrast, estimates drivers earn about $23.25 per hour, above Seattle’s minimum wage.
There are a number of factors that explain the big discrepancy between the reports.
Cornell’s researchers rely on data supplied by Uber and Lyft and do not include driver surveys. The Parrott-Reich study includes surveys of 6,500 drivers and partial summary data from Uber.
The city requested data from both companies for its report but Uber provided only partial data while Lyft declined to offer any.
Cornell researchers used median earnings to determine their estimates while the Berkeley/New School report uses averages.
The study by Parrott and Reich also appears to over-represent full-time drivers and excludes tips, while the Cornell report covers more part-time drivers and includes tips.
The study commissioned by the City of Seattle covered the entire month of October 2019 while the one backed by Uber and Lyft covered one week in that month.
The two studies also differ in their estimates of costs drivers incur.
It’s hard to ignore the fact that both studies reinforce the goals of their sponsors. As Kevin Schofield of Seattle City Council Insight put it after analyzing the research, “both studies skew their analysis and recommendations in the direction that favors the one who commissioned their study.”
Determining how much the average Uber driver earns is complicated and somewhat subjective. Researchers have to make assumptions and input a wide variety of factors that change depending on how the question is approached.
For example, when the Cornell researchers plugged in the numbers for full-time drivers and included all of their time waiting on the app, they found a median hourly rate of $17.40. When they looked at all drivers and only counted wait time preceding a ride, median hourly pay was $23.25, the headline number of the study.
That distinction is important because it impacts how many drivers are considered “full-time.” If a driver spends 20 hours each week waiting on the app and 20 hours actually driving passengers, is that a full- or part-time gig?
Uber says that even including those waiting hours, full-time drivers are a minority. The company hasn’t released data on the breakdown of its Seattle drivers, but on Friday Uber said just 9% of California drivers are full-time, including hours spent waiting on the app.
“What strikes us about these estimates how widely they vary,” the Cornell report says. “With just simple changes in the underlying assumptions, our estimates of hourly earnings increase by almost 35 percent.”
Setting aside the conflicting research — which can be used to reinforce either viewpoint — there is a fundamental problem with trying to fit gig economy work into a traditional labor mold.
The minimum wage is a powerful tool to ensure workers are fairly compensated for regular work that occurs during set hours. The regulation is built on the assumption that work is somewhat standardized.
But there is no standard Uber or Lyft driver. Some drivers work 10 hours a week, others 40. Some drivers take 4-hour shifts, while others pick up rides in-between appointments and errands.
Some drivers purchase a vehicle for the job, others use a car they already had.
The minimum wage standard is largely backed by full-time Uber and Lyft drivers such as Ahmed Mohamed Mahamud, a Somali immigrant supporting a family of 11. He is affiliated with the Drivers Union, an advocacy group for drivers with backing from the Teamsters 117 union.
I’m using my own car, driving myself, spending a lot of time to just pay the bills, so we’re really supporting fair pay.
“What I know is I am a kind of investor in this company,” Mahamud said. “I’m using my own car, driving myself, spending a lot of time to just pay the bills, so we’re really supporting fair pay. Even if I drive for [fewer] hours and I just pay my bills it would be okay.”
Part-time drivers tend to be more concerned about the legislation, fearing they will lose the flexibility that the apps offer.
“The legislation they’re putting forth would not be good for drivers myself, a part-time driver,” said Alex Nachman, a driver affiliated with the Uber-backed group Drive Forward. “It seems quite skewed toward drivers who go full-time. Some of the things that I best about driving might be curtailed or cutback under the current legislation.”
Many drivers who are backing the legislation say they’ve seen their earnings diminish over the years and criticize the companies for their lack of transparency. Don Creery, a driver with the Drivers Union, said his take-home pay has dropped every year since he started driving in 2013 in a statement released by the Teamsters.
“City Council can take a major step towards fairness with modest improvements to the Mayor’s plan that implement transparency and living wage protections benefiting both riders and drivers,” he said.
Meanwhile, groups including the Washington Technology Industry Association are pressing the City Council not to jeopardize ride-hailing.
“When our city is already experiencing widespread joblessness, this ordinance will eliminate more jobs, and moreover, disproportionately impact minority workers, who make up more than 60% of rideshare drivers,” WTIA CEO Michael Schutzler wrote in a guest commentary on GeekWire.
Lessons from New York and California
The minimum wage standard Seattle is considering is modeled after a similar approach implemented in New York City in 2018. Parrott and Reich, the researchers the City of Seattle enlisted, previously conducted a study that informed New York’s minimum wage.
Uber and Lyft point to New York as a cautionary tale for Seattle.
After the minimum wage was implemented in New York, Uber and Lyft began restricting the number of drivers on their apps so that the companies wouldn’t have to compensate drivers for idle time.
Those who drive the most are given priority in the app under the new tiered system. The change has led some drivers to sleep in their cars so that they don’t miss a chance to log-on and climb to a higher tier, Vice reports.
“You have other options,” said Uber public affairs leader Caleb Weaver in a letter to the City Council earlier this month.
“It remains possible to establish an earnings standard that ensures all Seattle drivers make at least minimum wage after expenses while avoiding the type of negative consequences from New York City’s policy, which disproportionately impact lower-income communities and are of particular concern at a time when public transit service is reduced.”
Uber says if it raises prices by 30% in Seattle, it could see a decrease in trips of around 20%.
Meanwhile, Uber and Lyft are embroiled in a legal battle in California over a law that seeks to force the companies to classify their drivers as employees.
The stated goal of regulations in California, New York, and Seattle is to provide vulnerable gig economy workers with living wages and basic labor standards. But each of the approaches seeks to use traditional employment regulations and standards to rein in this non-traditional form of work, which takes a variety of forms.
As New York shows, that approach has its limitations and doesn’t always result in better working conditions for drivers. With the rise of contingent work, it may be time to explore new approaches to labor law, such as portable benefits, which follow the workers without relying on their connections to employers.
Is gig work sustainable?
Underpinning the minimum wage debate is the precarious financial position of Uber and Lyft. There’s a reason the companies are powered by a workforce of independent contractors.
They can’t afford to employ that many workers. Whether that model is a weakness or innovation — or both — is up for debate.
But either way, the traditional employer-employee relationship doesn’t pencil out for the companies.
many gig economy companies, Uber and Lyft are not profitable. What’s more, both have been posting major losses since the outset of the pandemic. Lyft reported a 61% dip in revenue in the most recent quarter, while Uber saw a 29% decline.
Uber’s losses have been partially offset by increased use of UberEats, but the food delivery service isn’t immune to regulation. In June, the Seattle City Council approved legislation that requires food delivery companies to pay drivers $2.50 per delivery on top of their regular rates to offset costs and risks that drivers are dealing with during the pandemic.
The growing number of regulatory hurdles and dire financial straits raise questions about the long-term sustainability of transportation network companies. And those complex dynamics show why it’s not so simple to establish a minimum wage for drivers.
Editor’s note: This story has been updated to clarify how the per-minute rate for drivers is calculated.
Can You Really Make Money Driving for Lyft?
Ridesharing has created a lot of buzz these last few years. Ever since Uber came on the scene and disrupted the transportation market — by basically crushing taxi companies in every city they entered — other rideshare companies have popped up hoping to take advantage of that.
Lyft is one of those companies.
But I’m not here to talk to you about why or how ridesharing is taking over. I’m here to find out if there is any money in it for people you and I.
Can you really make money driving for Lyft? Let’s find out.
Making Money Driving For Lyft
Lyft has been around since 2012, and according to Bloomberg news, they have more than 100,000 drivers across the country.
Going on their fourth year, with that many drivers, I think it’s safe to say you can make money there. I doubt all those drivers would continue to work for free but let’s look a little deeper.
According to Ryder Pearce, founder of SherpaShare (a financial dashboard for rideshare drivers), and a Lyft driver himself, Lyft drivers earn an average of about $25 to $35 per hour.
Lyft claims that drivers can make $35/hour driving for them. If you go to their website and click the “Drive with us” button you are taken to a page where this claim is made boldly.
They even have a handy-dandy calculator you can use to try and figure out your own earnings your city and how many hours you want to drive.
I tried out the calculator and got back an amount that was equal to about $20 per hour. Still not bad.
Here’s a screenshot from one Lyft driver who made more than $1,500 with Lyft in one week.
If you look at the hours, you will see this driver worked about seventy hours to make that money.
That works out to be about $21 per hour. It’s below the average, but not a bad hourly rate.
So, there you have it. It is definitely possible to make money driving for Lyft.
We have industry reports, claims from Lyft themselves, and a little proof from one of their drivers.
What’s it Take to Be a Lyft Driver?
Lyft is surprisingly lenient on driver and vehicle requirements, especially when compared to its competitor, Uber.
Uber has an extensive list of vehicle requirements and multiple categories. Lyft’s are much simpler.
Here’s what Lyft says is required of all drivers and vehicles.
As you can see, this is all pretty standard stuff. Pass a background and DMV check, own a four-door, and have insurance. Seems simple enough.
You also have to make sure your vehicle is in good condition. Things your horn and all your lights need to be working, as well as maintaining good tread on the tires.
In most cities, your vehicle needs to be a 2005 or newer. However, this requirement varies from state to state, so you will have to check your state to be sure.
Expenses and Other Factors
Now that you have seen the requirements and proof that income is possible, you might be ready to jump in and drive for Lyft. Before you do, let’s take a deeper look at what it’s really to be a Lyft driver.
What Do Averages Really Mean?
We already know that the national average income for a Lyft driver is somewhere between $20 per hour and $35 per hour. That’s not bad, but those are the averages for the entire country.
If you are trying to calculate your own potential earnings there are some other important factors to consider besides the nationwide averages.
Lyft hires drivers in more than two hundred cities. So, while drivers in cities New York and LA might earn closer to the maximum hourly rate ($35) drivers in cities Sanford Florida and Plano Texas earn much less no doubt.
What is important to note here is that these averages are drive time — that means, time spent behind the wheel with a fare. If this included the total time it would be much less.
The Trouble with Downtime
One of the things rideshare drivers (no matter what company) complain about most is downtime.
You might be on duty for eight hours, but you won’t be driving customers around the whole time.
In fact, drivers experience so much downtime that RideShareGuy.com suggests furthering your education or starting a business while you wait for fares. That seems an awful lot of downtime.
All this time spent waiting around is what drives down the earnings for drivers, especially drivers in smaller cities. But it’s not just small cities. This is also a problem for drivers in cities where Lyft has just been introduced because people don’t know about it yet.
Taxi drivers report fare time vs total time to be around 50%. That means, if they work eight hours, only four of them are actually driving customers around. For Lyft drivers, fare times are about 32%.
So while the hourly rate for Lyft drivers is much higher when a fare is in the car, they are 18% less ly to have a fare.
Most Lyft drivers drive for Uber too. Think Uber is better? Check out my analysis of whether or not you can make money with Uber. They try to minimize their downtime by moonlighting with both companies.
More companies are popping up as well, so you could sign up for a few and keep yourself busy. You could even start doing AirBnB and rent out a room in your house or a couch in your living room to take full advantage of the sharing economy!
Paying For Insurance
Insurance is one of the biggest and most important expenses you will have as a Lyft driver. This is a requirement and one you shouldn’t skimp on.
The cost of insurance will vary state to state, but thanks to NerdWallet.com we can see a breakdown specifically for Lyft drivers.
NerdWallet says that Lyft drivers need at least two rides per week in order to cover insurance costs. Now that is an average, but remember these averages can be tricky. For example, a driver in Detroit will need at least six rides to cover insurance.
The Cost of Fuel
Although we’ve covered what insurance might cost you, we still don’t know about some of the many other expenses. Fuel is one of them — and it’s a major expense.
I don’t have to tell you how that the cost of fuel is outrageous and it doesn’t look it will be going down any time soon.
This expense — probably more than all the rest — is the one that can destroy your profits and make Lyft driving a futile effort in some ways.
You can cut down of fuel in a number of ways, but sometimes you are stuck with what ya’ got. If you drive an SUV, it’s not ly that you are going to downgrade to a smaller car just to drive for Lyft.
The average Lyft trip is about five miles. Most standard sized cars get about twenty to thirty miles to the gallon. So after four trips, you have used a gallon of gas, assuming there wasn’t a lot of traffic, wind, or luggage.
Basically, to pay for your fuel, one in four rides will be free. Well, not “free” but it will go towards your fuel.
Wear and Tear on Your Vehicle
Vehicle wear and tear is one of those things that we just can’t estimate. Some vehicles handle in town driving better than others. Some vehicles are simply better built. Some vehicles should not be on the road at all.
I can tell you this though: as soon as a brand new car is bought and touches the pavement outside of the car lot, it has already lost 11% of its value.
That should give you some idea of what the car industry thinks about wear and tear. And that’s a new car! Imagine a used car with a hundred thousand miles on it, being driven daily, in town.
Wear and Tear are what lead to breakdowns.
- Too many trips on that old set of tires?
- Running cheap fuel for too long?
- Ever replaced those old headlights?
All these things can lead to major damage, more downtime, and unhappy riders. That is why regular maintenance is important to keep in mind, especially when driving for Lyft.
That's going to cost you. Even if you earn $1,000 driving, one large repair could wipe out those earnings.
Writing Off Repairs And Miles At Tax Time
The details are a bit boring, but you can write off a lot of your expenses when tax time rolls around. Depending on how much income you make, this could be very beneficial to you, or not much at all.
According to Hurdlr, you can write off a ton of things related to your car, including insurance, gas, car washes, maintenance, license/title/registration, and whatever other related expenses there are.
That sounds great! But it's not you're “making” more money. You're just reducing the amount that the IRS can take from you. They're still taking money from your earnings.
PLUS, if you make over $400, you'll be subject to a self-employment tax. And now your taxes are more complicated, so if you aren't paying someone to do it, you've got to figure out these calculations yourself.
Or pay someone to do your taxes, which is going to cost you more at tax time. You can probably figure it out yourself, but remember you can't write off your whole car payment. There's a calculation you have to make to get the right number.
Then, at the end of the day, you're still putting wear and tear on your car, which is going to cost you in the long run. As a full-on business, you're going to struggle to make a full-time income in the long run.
Final Verdict On Making Money Driving For Lyft?
As a short term solution to make extra cash, or make money between jobs, driving for Lyft is great. As a long term solution for consistent income, I wouldn't recommend it. In fact, I'm not the only one.
Thanksgiving, Christmas, and all the holidays are coming up soon. This is a time when people are doing a lot of out-of-town traveling, so Lyft drivers are going to be busy! It's also the time when everyone could use a little extra spending money. Now's a great time to join Lyft and start making money in your spare time. It's a perfect time to take advantage of this short-term burst of holiday traveling to give your wallet a short term influx of cash!
Personally, I think the big money is not driving for Lyft, but in recruiting drivers and passengers. There are many opportunities to help Lyft grow their business, and they'll pay you to do it. Just through the app with a referral code, you can get paid to refer new drivers or passengers.
A couple of the websites mentioned in this post are doing just that. The Ride Share Guy and Ryder Pearce, from SherpaShare, are both, drivers and recruiters. Looking at their websites I’d say they spend more time recruiting than driving, as they each have hundreds of blog posts, podcasts, and even videos.
What they are doing is called affiliate marketing, which the same thing I do, but my websites are on a different topic.
It's a highly profitable business model, where you start a website on a topic, then refer people to products and services related to the topic of your website.
For example, related to ridesharing, drivers need all kinds of things: insurance, fuel, and maintenance items, tires and other parts. Other things GPS devices, music subscriptions, and even health-related items would also count.
If you started a website about ridesharing, you could potentially sell an ebook about how to stay in shape after sitting in your car all day, or what type of diet you can have to maintain energy throughout the day and not gain weight.
As an affiliate, you could earn a percentage each time visitors to your site buy something you promote or recommend. And the best part is, there is an affiliate program for most things you can buy online!
Your website can be on any topic though – computers, health, travel, family – any topic works because people buy so much online.
You can learn how to start your first affiliate website at the same training center I did. That links to a review, and yes, there's a referral code in the review so I get paid for each referral I get them.
Even if you still want to make money driving for Lyft, you can consider working on your affiliate site in your spare time. Waiting at Starbucks for an hour scrolling through or watching a movie isn't very productive.
Imagine if you used that same time to build an online business. Even just a few hours per day can help you make major headway into earning reliable online income. It took me about 6 months to start earning money with my website, and I was able to quit my job after 18 months.
Two years may seem a long time, but those two years of work have resulted in me working from home for a total of 4+ years now. It was worth every minute!
The cool thing about online business is that there's no “pressure” to go fast. You can work on your site Monday-Friday, then take weekends off, and your website will be ready for you on Monday! It's not a brick and mortar business where you have to pay rent or hire employees. It's cheap to run, simple to learn, and fun because you can write about topics that interest you!
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What's up ladies and dudes! Great to finally meet you, and I hope you enjoyed this post. My name is Nathaniell and I'm the owner of One More Cup of Coffee. I started my first online business in 2010 promoting computer software and now I help newbies start their own businesses. Sign up for my #1 recommended training course and learn how to start your business for FREE!