Very often we hear stories from uber drivers who tell us about how they make money while driving with Uber. We’ve decided to share some of these stories with you today.
Sandy decided to start driving with Uber in January 2013. Over these three years he has earned a total of $68,400. Sandy has averaged five driving hours a day, five days a week, at $19 an hour. The remainder of the time Sandy focuses on his real estate business.
But that isn’t the end of Sandy’s story. In fact, it’s just the start. Because Sandy has found three spectacular ways to make further income while he’s driving with Uber. These strategies can also be applied to Lyft drivers.
Sandy didn’t want to become complacent in his Uber journey and sought out other opportunities to make money while driving. We loved Sandy’s creativity so much that we asked him to share with the Casual Capitalist Community.
What follows are three creative income strategies that Sandy has implemented to make extra money from his Uber driving.
Sandy has started experimenting with in-car advertising. To start, Sandy bought himself a tablet computer and mounted it on the dashboard of his 2012 Cadillac CTS.
On average, Sandy estimated that he drove 12 riders every day. He also estimated that each ride lasted an average of 20 minutes. He broke up that 20 minutes into 120, 10 second slots on his advertising rotation.
Sandy then sold each slot on Fiverr for $5. For this price, someone could advertise their product for 10 seconds within this 20 minute rotation. Sandy then gave each slot a six month time frame. Your advertisement therefore would show 15 times during the day, for six months.
Although he has not sold out, Sandy has been able to generate an average of $60 a month by doing this.
Startups have taken notice of this opportunity. Sandy was doing it the hard way. There are now companies that will automate all of this for you and even provide equipment. Two of these worth checking out are GoVugo and Viuer.
There are some caveats to this income strategy. First, Uber doesn’t like their drivers doing this, so it could be banned at any time. Secondly, make sure your advertisements are non-intrusive, and the rider should have the ability to shut off the machine if desired.
Meet Sandy’s wife, Sarah. Sandy isn’t the only one making it work in the sharing economy. Sarah has an established Etsy store where she sells unique artisan jewelry.
One day, as Sandy was driving, a rider commented on a necklace of Sarah’s that was left hanging from the rear-view mirror.
“Hey, what’s that hanging there?” Asked the rider.
“That’s a necklace my wife made, she forgot it when I dropped her off at work” Sandy responded.
“It’s beautiful. I’m on a business trip, and I didn’t have time to buy my daughter a gift. How much do you want for it?”
Sandy was stunned. It was a light bulb moment. His car could also be a small showroom for his wife’s beautiful jewelry. Nothing crazy, just a few nicely placed pieces. After dropping off the rider at the airport, Sandy gave him the necklace free of charge, and hurried home.
Sandy pitched the idea to his wife. She loved it. On an average week, Sandy sells 2-3 pieces of his wife’s homemade jewelry. Not bad.
And the best part according to Sandy is not the extra income. It’s how his wife’s jewelry is a conversation starter for riders. They are always intrigued by the uniqueness of the work and ask Sandy questions.
The delivery market in the U.S. is valued at over $70 billion. Specific to food delivery, Americans spend approximately $9 billion a year on takeout. And all of it I assume is Chinese food because it’s the best, ever.
A final way Sandy has found to maximize his income while driving with Uber, it to platform stack. Sandy chose to start delivering with Postmates while driving with Uber. This way, he found that if his Uber business was slow, he could turn on his Postmates app and accept local deliveries. Sandy could even alternate between the two depending on where he was and what was more profitable.
There are many delivery platforms in the new sharing economy space. Good news for you: there’s a lot to choose from. There’s not only Postmates, but Instacart, Nimber, DoorDash, and UberRUSH. Check out an earlier post dedicated to delivery platforms.
Now, I know what you’re thinking: Uber doesn’t allow tips you dummy!
You’re right. But there are a number of entrepreneurial startups out there that now offer digital tip boxes.
Cool right? Take that Travis!
And for good reason – according to Bloomberg, taxi’s account for 20% of their incomes to tips. Why are you any different?
Consider PAX, a smart tip jar for ride-sharing drivers that allows you to accept cash or credit card tips.
Attaching to your headrest, the PAX system connects to their payment platform through your smartphone. So no expensive monthly transaction fees. Riders can tip using credit card or cash, simple as that.
Check out their ongoing Kickstarter campaign to jump on board.
There are many ways for an Uber or Lyft driver to supplement their primary ride-sharing income. Sandy has done it through in-car advertising, selling handmade goods, and delivering food. It’s all about getting creative.
We want to thank Sandy for being a member of the Casual Capitalist Community and sharing (ha!) his story with us today. We hope that it helps you make more money in the sharing economy.
Cheers to Sandy!
P.S. If you’re serious about getting into the ride-sharing game, you may want to check out the Maximum Ridesharing Profits course offered by my friend Harry Campbell. This is a fantastic course that will get you from zero to sixty, or zero to profit, with popular ride-sharing platforms such as Uber and Lyft. Many in the Casual Capitalist community have taken this course and loved it, you will too.
Glenn Carter is a sharing economy expert and is sharing his passion for side income through new digital platforms with his readers.