Rideshare programs such as Uber and Lyft promise you the ability to work your hours and earn extra income, but is it as great as they’re making it sound?
We have all heard the hype of working for rideshare programs such as Uber and Lyft. Work your own hours, job flexibility, extra income, being your boss, and so much more, but is it all just hype? What money are you really making from driving for these platforms?
Let’s take a look at some of the advantages and disadvantages of driving for a rideshare platform, and what you’re really going to be taking home at the end of a long day or night driving people around in your vehicle.
Getting out of the corporate 9-5 grind and working for yourself!
For many sales professionals getting out of the corporate grind and working for themselves is an attractive option. For many people, rideshare platforms such as Uber and Lyft offer them the escape that they’re seeking.
Earn up to $30 per hour, work your hours, and be your own boss. They all sound great, but once you start breaking down what you actually make after expenses and fees, you could be working for less than minimum wage.
For example, drivers in New York City that are driving at peak and demand times are making up to $30 per hour, but drivers working in less demanding areas aren’t even getting close to this amount. Do you want to spend your nights and weekends driving around other people enjoying nights out with friends and family? Not likely.
In this article published on Market Watch, they reported that data collected from the Economic Policy Institute showed that, on average, Uber drivers only earned $9.21 per hour. That’s not a lot of money to take home after a long night of driving people around in your vehicle. Don’t forget either that you still have to spend hours cleaning your car and doing paperwork for expenses and taxes.
Rideshare platforms are about to hit Vancouver, but before you even think about driving, you’re going to require a Class 4 License, new car, and specialized insurance. Those costs are already starting to add up, and you haven’t even picked up your first passenger yet!
Don’t confuse driving for rideshare companies with the freedom of freelancing!
For many people working as a freelancer can be a daunting prospect. There is a certain amount of uncertainty, and rideshare programs may appear to be a better solution, but the truth is they aren’t. Working as a freelancer builds your job skills and enables you to create a better future while allowing you to take advantage of multiple income streams.
There are a variety of different freelancing platforms available to choose from, each of which specializes in specific areas. One such platform is Stable. Stable is a freelancing platform aimed at sales specialists and allows you to build a team or work for some of the biggest names in the industry, all from the comfort of your own home.
Freelancing platform allows you to maximize profits, build ongoing working relationships, and set your own work hours and environments. All from the comfort of your own home during hours that allow you to maximize your professional and personal work/life balance.
After all, isn’t that what it’s all about?