In 2022, Uber drivers made over 7.6 billion trips, an increment of about 10% from 2021. In addition, Uber generated more income in 2022, with an increase of 82% from 2021. These statistics show that there is a need for more drivers since the company is growing year by year. And that brings in the question, is Uber a good side hustle?
Uber is a good and flexible side hustle you can rely on to make extra income. In addition, driving for Uber is a great way to utilise your unused car to generate more income.
Being an Uber driver can generate extra income to boost your paycheck. And the good thing is that you can drive during your free time, evenings or weekends.
This blog explains more about Uber driving as a side hustle and the best practices to make more money from the hustle. Keep reading to unveil your next side hustle if you are a qualified driver.
What is Uber? Overview
You may wonder what Uber is and how you can earn money. Well, Uber is an American Technologies company headquartered in San Francisco, California. The company started in 2009 with the main aim of transportation and mobility as a service.
The company grew into an international company where it’s available in every country across the globe. It has a mobile application where people can log in and request rides right in their houses. And that’s where Uber drivers come by. Their job is to pick up and drop off clients and parcels across towns globally.
Below is a chart showing the company’s revenue growth till the first quarter of 2023.
Is Uber a Good Side Hustle?
Statistics show that 62 % of riders use Uber compared to Lyft. In the US, Uber has a market share of 72%. These statistics show that there is more money in Uber compared to other ridesharing companies. This makes Uber a good side hustle if you have the needed qualifications.
Another fascinating statistic about Uber is that it makes the most income from the US. In 2022, Uber made 17.95 billion from the US alone. Are you still asking, is Uber a good side hustle?
Uber laid off employees in 2020 due to the effect of Coronavirus. However, since the virus has subsided, the company has added employees more regularly. Uber is a good side hustle because you can work part-time in the evenings and weekends.
What Makes Uber a Good Side Hustle?
One of the things that clear the doubts of whether; is Uber a good side hustle is the ability to work during busy hours of the day and week. For instance, when working as a part-time Uber driver, you can start work very early in the morning and late in the evening when people are going and leaving work, respectively.
In addition, the weekend is the best time to make money as an Uber driver. This argument results from most people going for family tours and getting around towns. Therefore, you can maximize your income working on weekends.
The good thing about being a part-time Uber driver is that you plan your day and availability. That’s why you can work at any time of the day. You only have to log in to the Uber app and accept rides.
You should maintain your car regularly to keep your Uber side hustle alive. The good thing is that you can get tax relief since you can record all those expenses as business expenses.
Being a Uber driver is an excellent way to earn money from your car. You cannot earn money if you stay indoors with your car when it’s still taking up maintenance costs.
Furthermore, you can earn passive income as an Uber driver if your schedule is so tight and unfavorable. All you have to do is to get a qualified driver who will accept rides on your behalf. However, you should pay them for trips gone as you receive your passive income from the Uber app.
How To Maximize Earnings in Uber Side Hustle
Knowing how to maximise your earnings can help you earn more money as an Uber driver. The good thing is you can manage the time you undertake Uber rides. So how do you maximise your earnings as a Uber driver?
- Treat Your Clients Well
Your clients hold the key to your success as a Uber driver. If you treat them well during their rides, they will give you five stars, boosting your credibility on the Uber app. In addition, your clients can return if they get the best riding services from you. Therefore, aim to satisfy your customer needs and, if possible, deliver more than you promise.
- Ride During Peak Hours/ Days
Peak hours and days are the other ways to increase your income as an Uber driver. Ridesharing in the morning and evenings have guaranteed clients due to people going to and leaving work. In addition, weekends and holidays are a good choice to accept rides since most people are moving around with their families. That results in more income per day.
- Choose Busy Locations
A location with high movements will have more clients requesting a ride. Therefore, the location you choose to participate in rides determines whether; is Uber a good side hustle for you.
You can choose to drive in areas near tourist attraction sites or busy towns with dense activities. However, busy towns have the disadvantage of traffic jams.
Pros: Is Uber a Good Side Hustle?
- It’s an excellent way to earn money from your unused car.
- It’s available globally.
- The company is growing, hence building a more significant market share. This means there is potential for tangible future growth.
- The app is convenient for drivers and riders, making it unbeatable.
- You set your working hours; no one manages your driving.
- You can enjoy tax benefits because of the car expenses, which you can record as a business.
Cons: Is Uber Good Side Hustle?
- You cover the maintenance costs of your car.
- When there are traffic delays, you make less money.
- You may have fewer hours for resting if you still have a 9 to 5 job.
- Bad reviews can damage your credibility, hence losing your job.
Is Uber a Good Side Hustle? What You Should Know
Is Uber a good side hustle? Yes. Uber is a good side hustle where you can earn a steady income, especially in a busy city. However, you should know some things before you decide to be a part-time Uber driver.
One of the most important factors to consider is time. We all know how time is essential when doing part-time jobs. You should manage your time adequately to ensure you maximize your earnings as a Uber driver. If you have a 9 to 5 job, never accept rides when you are not available to pick up the riders.
Are you comfortable with the working hours as an employee and a Uber driver? You should assess yourself before you commit to work as a part-time Uber driver.
Remember that being a part-time worker after 9 to 5 means denying yourself comfort. Therefore, ensure you can cope with the working hours before joining Uber.
Furthermore, you should know how to deal with stubborn clients. It’s good to be humble and patient when dealing with Uber drivers because compromising the relationship means terrible reviews for you and the company.
Perhaps stubborn clients can get you asking; is Uber a good side hustle? However, dealing with these people, even in other professions, is inevitable.
How to Become an Uber Driver
Before you sign up to undertake Uber as a side hustle, ensure you have the necessary driver training and credentials.
Here are the requirements to be an Uber driver:
- Have at least one year of experience as a driver. However, you should have 3 years minimum driving experience if you are under 25 years. In addition, your age should comply with your State rules of when you should start driving.
- You should have an In-state license and a valid US driving license
- You should use an eligible 4-door vehicle.
- You should have up-to-date insurance for the car you’ll use.
- Provide your current physical address
- A good drivers photo
After submitting your application, Uber onboarding staff screens your documents and criminal records before they can accept your application.
Now you have the answer for; is Uber a good side hustle? If you be willing to make more money during your free time, you can apply to be an Uber driver. However, ensure you meet the above criteria before submitting your application.
There are other ways you can earn money part-time during your free time. Check and choose your side hustle wisely.
Is Uber a Good Side Hustle: Frequently Asked Questions
- How much can I earn with Uber?
Your Uber earnings depend on various factors, such as your cities of operation and the hours you are available in a week. Most Uber drivers claim to earn an average of $20 per hour.
- What makes Uber better than the other ride-sharing companies?
Well, Uber has a more significant market share; therefore, working as a driver is an advantage. This means you have guaranteed clients depending on
- Does Uber pay daily?
Yes. Uber pays its drivers daily or according to the time you choose. This makes it convenient to cater to your bills before your paycheck instead of applying for payday loans.