(content by Prince K.)
Working for yourself is now an achievable dream for millions of people around the world. With gigs like being a rideshare driver, you have the potential to earn more than a limited office job provides. Even better, you set your own schedule.
Now that companies like Uber and Lyft have made ridesharing a household thing, you can jump on board and enjoy the benefits. But to be successful, new entrepreneurs need to know a few tips.
These five helpful hints will get you started on your road to a lucrative career as a rideshare driver!
1. Don’t Be Afraid to Ask Questions
Working as a rideshare driver isn’t as simple as driving around picking up clients. There’s a lot that goes into turning this into a career.
The good news is that there are also tons of places you can turn to for advice. Uber, Lyft, and other companies offer courses and FAQ resources to help you. You’ll learn things like how to market yourself and get more riders, handle pricing and gas shortages, and keep records for tax purposes.
Although a lot of these courses have a fee to access them, the information you’ll learn will make the initial investment worthwhile. Before you sign up, check with the company and other drivers to see if there are any discount codes you can use.
2. Understand Your Liabilities
Rideshare accidents and lawsuits are a newer field of legal issues. Some of the lesser-known bugs are still being worked out. But, for the most part, insurance companies have decided how they’ll deal with people who use their cars for this purpose.
Although major companies like Uber provide insurance coverage, there are some situations where they don’t step in.
If you’re in any type of accident as a rideshare driver or passenger, the insurance situation can get tricky. This article by JT Legal Group explains more about when a rideshare driver’s insurance is liable and when the company is held responsible.
3. Expand Your Opportunities
Rideshare companies often offer sign-up bonuses. You can earn this bonus when you first join, as well as when you refer other drivers to the company. Of course, there’s some fine print to read to make sure you qualify. But for the most part, you can make some good side money through these bonuses.
You don’t have to limit yourself to one company, either. A lot of rideshare drivers expand their skills to include Uber, Lyft, Instacart, and DoorDash. Unless the company has an exclusion rule, feel free to schedule as many pick-ups and deliveries in your day as you can handle!
4. Add the Little Touches
If your riders feel comfortable with you, they’re more likely to ask for you specifically in the future. It’s the small, thoughtful touches that make you stand out from other drivers and increase your chance of callbacks.
Investing a little of your income into extras, like bottled water or snacks, goes a long way. Keep chargers in your car for most phones. Ask your rider what music they prefer for you to play, and make a note of it in your file in case they call for you again.
Remember, some drivers are standoffish at best and rude at worse. The more polite and courteous you are, the more your clients will want to have you as their regular rideshare driver.
5. You Can’t Keep Too Many Records
As a rideshare driver, you fall under the legal and tax laws of a self-employed individual. The better organized you are with your receipts and expenses, the less of a shock tax time will be.
Maximize your deductions by keeping good, thorough records. There are lots of apps geared toward rideshare drivers. When you find one you like, store your receipts on the cloud through it, record your earnings, and save your miles.
Since you’re not paying taxes on your earnings, you’ll have to pay them when you file each year. To minimize the blow of how much you’ll owe, look into paying quarterly or monthly or set aside part of your pay each week.
Between preparing ahead with your records and being proactive with payments, tax time won’t be a scary prospect!
Conclusion
Becoming a rideshare driver is now a legitimate career. Successful drivers enjoy their job and make a great living doing something they love!
As a new driver, you’ll learn the ins and outs of the companies you work for. But these five tips will turn your side gig into a lucrative business fast!
