So you decided to take the bold step and start up an Uber business. Or perhaps you invested in purchasing a car for Uber, but you find the daily intricacies of managing your cars quite tricky, and you just want to conquer this and manage your cars properly and efficiently. Or maybe you haven’t even started – perhaps you are wondering what business path to tow next and Uber sounds like an attractive option but you want to dip a toe in the water and understand the mechanics of making money on the platform. Whatever the case may be, I have you covered.
For those who are just joining class, Uber is a global taxi booking system that matches passengers and car owners willing to drive them, together based on their GPS co-ordinates. Passengers looking for a taxi just download the app and enter their destinations and the app helps find and book the closest taxi to them. The owners of the taxis used on the platform are called “owner partners”. Following a simple registration process, an owner partner can purchase vehicles, put these on Uber’s network and pick up passengers sent by Uber in exchange for a commission.
In this article, I want to concentrate on the taxi businesses that are built around the platform. Since Uber increased their global presence, expanding to cities such as Lagos, Bali, Chennai and Durban, business opportunities have opened up in these cities almost overnight. Investors have been able to make steady returns by purchasing compliant vehicles and putting them on the Uber network in partnership with drivers looking for vehicles to drive. Some investors purchase cars and offer them through a rental program to drivers who want a quick start on the network. Others prefer to offer a longer term hire-purchase agreement in which the driver pays for the car in installments while using the car to work. Both streams are quite profitable and attractive and these business models are covered in a separate post.
Unfortunately, anyone who has managed an Uber vehicle or driver can probably attest to how difficult and draining the process can be. Keeping a tight eye on expenses, selecting the most lucrative spots to pick up passengers etc. So I decided to write this to help outline ways to help you manage your Uber business.
Carry out a business assessment
Before you invest, you need to carry out a business assessment to find out if it is financially the most suitable investment decision for you. An assessment of the business model is necessary to help you determine the following:
- What kind of car specifically you need to purchase in order to make your investment back quickly, and also one which would not depreciate by too much in the long run.
- Cost analysis. This is a calculation of all the costs you intend to incur from setting up this business and against the benefits that you anticipate from it. This would help you set a realistic outlay of how much you need to get going, and also gives you a rough idea of how the business should expect to turn out if everything stays as it is. In most businesses, the first year costs are usually the highest while the business is being set up (in this case, the vehicle purchase brings the cost up) and in subsequent years, you can expect lower costs (insurance, maintenance etc) and higher returns on your investment. Here is an example of this from Uberkit’s business package. This outlines the costs and expected profit in Year 1 for a model in a model where the investor hires a driver and pays him/her a salary. In this example, he adds up all the costs associated with the business – Vehicle Acquisition, Maintenance costs, Payments to Uber, Driver’s Salary, Petrol etc on an annual basis as well as a weekly and monthly basis.
- Break-even analysis. A break-even analysis helps you identify when your business would be able to cover all its expenses and start making a profit. For example, if you purchased your car for N1.5m, and offer it to an owner-driver on a hire-purchase contract paying N40,000 weekly, you might find out that your breakeven point is 37.5 weeks. This means that after 37.5 weeks, everything you make is a profit. For a driver, this needs to be calculated differently, you will need to add the total cost of purchasing the car, to the cost of insurance, weekly petrol, car maintenance/repairs etc so it might take longer to break even but this is normal in this business. Usually, you achieve positive cash flows in Year 2, 3 etc once you have offset the hefty cost of purchasing the vehicle.
- What risks you might face with this business and explore potential solutions you can deploy so that you have an action plan beforehand. This ensures that if anything happens that is not as expected, you have an action plan to take care of it.
I find that Uberkit’s business package saves me a lot of time as I don’t have to populate these spreadsheets from scratch. Not just that, but the spreadsheets are prepopulated with formulas, so I just need to enter my numbers and it calculates my key metrics for me. This helps me spend 5 minutes (instead of 5 hours!) checking whether I can turn a profit after purchasing a vehicle, paying petrol/maintenance costs and paying a driver. Moreso, the kit only costs $47 – much less than i could hire someone to help me with this for! (Plus the friendly staff are there to help with any issues I have had).
Because I found the kit so helpful, I reached out to the company and asked for a discount for my blog readers (because you guys know I’m always thinking of how to make your life richer and better). He very kindly offered an exclusive 20% discount for everyone who purchases the kit through this blog. You just need to do two things:
Follow this link: www.uberkit.net
Enter the code: MRPEPEUBERX
Find a reliable partner
After investing a vehicle on the network, the first thing you need to do is find a reliable and trustworthy partner to work with. In fact, there is nothing wrong in you starting to look for a partner before you actually put money down for a vehicle.
To find a partner, you can attend one of the many partner matching sessions which Uber puts on for its partners to link drivers to vehicle owners. Alternatively, send me an e-mail and I can put a request out on your behalf (free).
Draw up a partnership agreement
Once you have found a partner, you need to draw up an agreement with them detailing the terms of the partnership. For this, you need a fully fledged agreement on paper which needs to be signed and agreed by both parties before the partnership can commence. This is legally binding and should help you in the unlikely event that something goes wrong in relations between you and your driver. Again, an editable sample is included in Uberkit’s package.
Create a daily driver log
A daily log helps keep your driver accountable on a day-to-day basis. They can fill it as they go about their jobs and take a photo and send to you at the end of each working day. This essentially acts as a tracking tool to identify on a daily basis how the business is running. What this does is that if you are not meeting your targets to break even you predicted, you can quickly identify this and correct it before it turns into a catastrophe. For example, if you as a driver previously calculated that you need to make N60,000 weekly to pay off the cost of your car and expenses and you have only made N50,000 2 weeks in a row, you know that you are off target by N20,000 and need to make up the deficit somehow. This might make you work extra days on Uber or book airport runs to supplement your income.
Here’s an example of the driver log offered by UberKit.
So there are the basic steps involved. I hope that this writeup has been helpful to you, and if you do have any questions, I’m always here to help. Drop me an e-mail or a comment in the comment section!
Thanks a great deal for the article! You’ re wonderful!!
Thanks Mr Pepe , nice write up, very instructive. can you send me by mail a sample driver – owner /partner agreement
Hi Ethan, Thanks a great deal for this instructive write up. I wish to take this business but have been researching before i came across yours. Could you kindly share your email address as well as Phone number as i need to get some of the kit and pick your brain on some grey areas?
Sure – it’s ethan@mrpepe.com
Thanks for the article? I’m struggling with how to structure an agreement with a driver. I understand the weekly lease payments, but how do I also incentivize the driver to pickup private rides that I arrange? What other aspects of the agreement are common? How can I make more money based on the drivers success beyond the lease payments? Thanks!
Great insight. Thanks a million.
I actually have a great car and intend to get a vehicle manager to hand over the vehicle at a weekly fee.
Is it the most profitable move?
How do i ensure the vehicle manager services the car and changes the tyres when due?
I will appreciate you response..
09029301560
I need a car to drive at uber Lagos nigeria
order tadalafil 40mg pills tadalafil cost where to buy ed pills
buy cefadroxil generic finasteride pill order proscar 1mg sale
buy estradiol for sale lamictal tablet order generic minipress 1mg
fluconazole over the counter buy cipro 500mg sale order cipro 1000mg generic
buy generic vermox 100mg tadalis 10mg without prescription tadalis 20mg uk
flagyl 400mg for sale cost bactrim buy cheap cephalexin
order avana 200mg generic brand avana buy diclofenac 50mg online cheap
cleocin 300mg cost generic ed drugs ed pills that work quickly
generic amoxicillin buy amoxicillin online cheap biaxin cost
bimatoprost spray purchase robaxin pill order desyrel 50mg without prescription
buy clonidine 0.1 mg antivert 25 mg without prescription buy tiotropium generic
suhagra 50mg brand buy sildenafil 50mg online cheap sildalis over the counter
buy minocycline for sale minocin 50mg pill purchase pioglitazone generic
purchase leflunomide without prescription order sulfasalazine 500mg for sale azulfidine 500 mg over the counter
cialis 20mg tablet cialis 20mg generic tadalafil 10mg usa
buy ivermectin 6mg for humans free samples of ed pills deltasone over the counter
brand lasix 40mg albuterol us order albuterol
vardenafil over the counter hydroxychloroquine 200mg price cost hydroxychloroquine
order levitra without prescription buy tizanidine pill hydroxychloroquine 400mg usa
buy generic asacol over the counter buy irbesartan 150mg generic buy avapro without a prescription
casino online usa online gambling real money mobile casinos online real money casinos
order olmesartan 10mg pill cheap depakote how to buy divalproex
cash casino games casino free bonus free sign up bonus online casino free welcome bonus no deposit casino
how to buy clobetasol buy buspirone without prescription amiodarone 200mg uk
best real money online casino online casinos no deposit bonus online casino usa real money no deposit bonus casino welcome bonus
order diamox 250 mg for sale azathioprine 50mg canada brand imuran 25mg
casino free spins best online casino us mobile casino real
money top online casino real money
online casino review online casino game real money top us online casino bonus casino online
how to get lanoxin without a prescription order molnunat pills buy molnupiravir 200mg without prescription
mobile casino sites live online casino usa no deposit
casino games online casino for real money
carvedilol without prescription carvedilol online buy generic chloroquine
buy naproxen sale buy omnicef pill prevacid uk
oral proventil buy albuterol 100 mcg online cheap generic phenazopyridine 200 mg
cheap baricitinib 4mg olumiant price buy atorvastatin sale
buy montelukast online cheap purchase symmetrel pills dapsone 100 mg ca
buy adalat pill generic perindopril order allegra sale
cheap norvasc 10mg buy lisinopril 5mg without prescription order omeprazole 20mg
dapoxetine 60mg without prescription buy generic xenical online buy xenical sale
lopressor us buy cheap tenormin can i buy methylprednisolone online
diltiazem 180mg pill allopurinol 100mg for sale allopurinol pills
aristocort buy online purchase clarinex without prescription order loratadine 10mg pill
crestor 10mg drug purchase rosuvastatin generic motilium 10mg tablet
buy acillin generic purchase ciprofloxacin online cheap buy metronidazole 200mg without prescription
buy tetracycline 500mg generic buy cyclobenzaprine baclofen 10mg brand
buy trimethoprim buy cephalexin 125mg pill buy generic clindamycin for sale
toradol 10mg us cheap inderal order inderal 20mg online cheap
order erythromycin sexual dysfunction tamoxifen 10mg uk
buy clopidogrel sale order methotrexate for sale buy coumadin 2mg generic
reglan usa nexium pill oral esomeprazole 40mg
order budesonide generic buy budesonide order careprost generic
topamax 100mg canada order levofloxacin 500mg for sale buy levaquin 500mg for sale
buy generic methocarbamol over the counter buy generic trazodone buy suhagra pills for sale
avodart without prescription buy avodart 0.5mg for sale order meloxicam 7.5mg pill
buy aurogra pills for sale order sildalis sale buy estradiol 2mg sale
cost celecoxib buy flomax 0.2mg for sale cost zofran 4mg
buy lamictal 50mg online lamotrigine 50mg without prescription order minipress 1mg pill
order generic aldactone 100mg buy zocor pills generic valtrex 500mg
finasteride buy online order proscar 5mg pills sildenafil viagra
order cialis 5mg online tadalafil 10mg uk sildenafil buy online
tadacip order order indocin pill oral indocin 50mg
cheap cialis generic buy ed pills uk best otc ed pills
buy lamisil pills for sale amoxicillin canada amoxicillin oral
sulfasalazine 500mg price purchase olmesartan online cheap cheap verapamil 120mg
anastrozole 1 mg generic order catapres sale buy generic clonidine
depakote 500mg usa buy divalproex 500mg pills imdur 40mg price
buy antivert 25 mg pills order minocin capsules buy minocycline 100mg online
imuran 25mg oral order micardis pills order micardis 20mg online
where to buy molnunat without a prescription buy molnunat for sale buy generic cefdinir
best ed pills at gnc viagra 50mg cost real viagra pills
buy cheap generic prevacid proventil 100 mcg cheap buy generic protonix
generic ed pills order tadalafil 5mg generic buy cialis 10mg for sale
how to buy phenazopyridine symmetrel 100mg canada purchase amantadine pill
best male ed pills cialis 40mg for sale tadalafil 20mg pills
avlosulfon buy online nifedipine tablet buy aceon 4mg
buy allegra medication buy ramipril 10mg generic glimepiride canada
hytrin 1mg uk buy pioglitazone without a prescription tadalafil 10mg cheap
etoricoxib 60mg cheap buy generic mesalamine 400mg azelastine usa
order irbesartan 300mg pills buy irbesartan 150mg without prescription buspar 10mg tablet
amiodarone 200mg for sale carvedilol 6.25mg tablet order phenytoin 100 mg generic
albenza 400 mg usa buy generic provera online buy provera 10mg pill
ditropan for sale buy generic alendronate buy generic fosamax 70mg
generic biltricide 600 mg buy microzide generic order cyproheptadine 4mg for sale
order nitrofurantoin generic buy pamelor generic where can i buy nortriptyline
fluvoxamine online order buy luvox medication cymbalta pill
order glucotrol 10mg pill buy piracetam 800mg pills buy betamethasone generic
buy panadol order famotidine 40mg pills buy famotidine 40mg generic
order clomipramine 50mg pill order generic anafranil 25mg prometrium medication
prograf 1mg pill order ropinirole online ropinirole brand
order tindamax 500mg online bystolic 20mg price nebivolol order
order calcitriol 0.25mg pill buy rocaltrol 0.25 mg online tricor 200mg tablet
diovan 160mg canada buy clozapine 50mg online cheap combivent 100 mcg canada
trileptal 600mg sale purchase oxcarbazepine ursodiol pill
decadron 0,5 mg us buy starlix 120mg online cheap starlix without prescription
order capoten 25mg online candesartan online order cost tegretol 400mg
buy zyban 150 mg online order generic cetirizine strattera 25mg cheap
ciprofloxacin without prescription buy generic duricef 500mg duricef oral
buy seroquel generic order quetiapine pill how to get escitalopram without a prescription
combivir brand buy zidovudine 300 mg online pill buy accupril 10mg sale
prozac 20mg drug buy fluoxetine for sale order letrozole 2.5 mg pill
frumil cheap buy frumil online order zovirax for sale
zebeta pill cheap indapamide buy cheap generic terramycin
valaciclovir 500mg price buy valcivir generic buy cheap generic floxin
buy cefpodoxime 200mg online theophylline 400mg cost generic flixotide
order levetiracetam 500mg sale order keppra 1000mg sale viagra cheap
purchase zaditor for sale purchase zaditor generic tofranil buy online
brand cialis 20mg cheap sildenafil pill buy sildenafil 100mg sale
purchase precose generic griseofulvin 250 mg brand fulvicin sale
purchase minoxidil generic buy minoxytop solution erection problems
reputable online pharmacy for cialis tadalafil 20mg how long does it last what does cialis do
oral aspirin 75 mg eukroma canada purchase imiquad online
dipyridamole 100mg for sale dipyridamole 100mg usa buy generic pravastatin online
where to buy meloset without a prescription order norethindrone 5mg sale danazol price
fludrocortisone where to buy buy florinef 100mcg online cheap imodium where to buy
generic dydrogesterone empagliflozin cost purchase jardiance
prasugrel over the counter where to buy prasugrel without a prescription detrol 2mg price
To read true to life news, follow these tips:
Look representing credible sources: http://piratesclub.co.za/pag/how-old-is-martha-maccallum-from-fox-news.html. It’s high-ranking to guard that the newscast outset you are reading is respected and unbiased. Some examples of reputable sources subsume BBC, Reuters, and The Modish York Times. Review multiple sources to pick up a well-rounded aspect of a discriminating info event. This can support you carp a more over picture and escape bias. Be aware of the angle the article is coming from, as even good report sources can have bias. Fact-check the dirt with another source if a expos‚ article seems too staggering or unbelievable. Forever fetch inevitable you are reading a advised article, as news can change-over quickly.
By following these tips, you can fit a more informed dispatch reader and more wisely know the everybody around you.
To understand true to life scoop, adhere to these tips:
Look representing credible sources: http://fostoria.org/files/pag/where-was-bad-news-bears-2005-filmed.html. It’s material to safeguard that the newscast roots you are reading is respected and unbiased. Some examples of reliable sources tabulate BBC, Reuters, and The Fashionable York Times. Read multiple sources to pick up a well-rounded view of a precisely info event. This can improve you listen to a more complete facsimile and dodge bias. Be in the know of the viewpoint the article is coming from, as constant respectable hearsay sources can contain bias. Fact-check the gen with another commencement if a scandal article seems too lurid or unbelievable. Till the end of time pass inevitable you are reading a advised article, as scandal can transmute quickly.
Nearby following these tips, you can fit a more informed scandal reader and more wisely understand the world here you.
purchase etodolac buy monograph 600mg sale oral cilostazol 100 mg
purchase prilosec pills montelukast without prescription buy metoprolol 50mg online
order premarin 600 mg online cheap premarin 0.625mg usa viagra 25mg
buy telmisartan 80mg online purchase micardis without prescription buy molnupiravir without a prescription
brand cenforce cheap naproxen 250mg chloroquine pill
cost tadalafil cialis pills 10mg buy sildenafil
cefdinir 300 mg price purchase glucophage online cheap order prevacid 30mg without prescription
order modafinil 200mg buy modafinil 200mg for sale order deltasone 20mg
buy generic atorvastatin 80mg buy amlodipine 5mg generic buy norvasc medication
accutane canada zithromax 500mg us order zithromax online cheap
brand azithromycin buy azithromycin 500mg without prescription gabapentin 100mg over the counter
pantoprazole order online buy cheap phenazopyridine buy phenazopyridine 200mg generic
best online casinos that payout play live poker online buy lasix 100mg online cheap
roulette online with real money acticlate tablet ventolin cheap
buy amantadine generic order atenolol 100mg generic dapsone us
Однажды мне понадобилось 3 000 рублей на неотложные нужды. По совету коллеги, я посетил yelbox.ru. На сайте было много полезных статей о том, как правильно взять займы онлайн на карту , и список лучших МФО. Оказывается, некоторые из них предоставляют займы без процентов!
online roulette real money online roulette game real money generic ivermectin cream
Финансовые трудности могут застать врасплох. В такой момент я воспользовался Yandex, который указал мне на сайт wikzaim, где я мгновенно нашел подходящее МФО 2023 года и получил займ, решив свои проблемы.
medrol cost in usa buy generic aristocort over the counter order aristocort 10mg without prescription
recommended you read black jack card game free buy generic levothroid
clomiphene online buy buy clomiphene 50mg for sale imuran usa
Откройте для себя волшебный мир отдыха в Туапсе. Мы предлагаем уникальное сочетание качественного сервиса, комфорта и домашнего уюта. Ваши впечатления и эмоции – наш главный приоритет!
Позвольте себе роскошь наслаждаться каждым моментом, проведенным в наших отелях, где современные удобства встречаются с традиционным гостеприимством. Насладитесь магией Туапсе в 2023 году!
generic coversum generic fexofenadine 120mg fexofenadine drug
vardenafil 20mg usa cost tizanidine buy tizanidine without prescription
Работа в Новокузнецке
buy phenytoin without prescription order cyclobenzaprine 15mg for sale oxybutynin 5mg generic
buy claritin 10mg pill buy generic claritin priligy 90mg brand
Работа в Новокузнецке
buy cheap generic ozobax order amitriptyline 50mg pill buy ketorolac generic
glimepiride for sale online buy generic amaryl 1mg arcoxia drug
lioresal drug buy cheap ozobax buy ketorolac medication
https://jobejobs.ru
Яндекс подсказал мне отличный сайт caso-slots.com, когда я искал казино на деньги. Тут есть все для удачной игры: различные казино с игровыми автоматами, бонусы на депозит и статьи с советами по игре. Теперь я знаю, как увеличить свои шансы на победу!
alendronate pills oral macrodantin 100mg macrodantin 100 mg for sale
https://jobejobs.ru
buy famotidine 40mg generic hyzaar without prescription buy tacrolimus pill
esomeprazole generic order topiramate 200mg generic order topiramate 100mg pill
allopurinol 300mg over the counter buy generic allopurinol buy generic crestor 10mg
order imitrex for sale buy avodart tablets buy dutasteride online
buy buspin without a prescription buy cheap ezetimibe cost amiodarone 200mg
buy zantac 300mg without prescription celebrex 200mg uk buy celecoxib 100mg online cheap
order motilium 10mg generic motilium online order buy tetracycline pills for sale
buy flomax sale buy tamsulosin without a prescription simvastatin 10mg cost
Работа вахтовым методом
write essay service write research paper how to write my thesis
buy aldactone 100mg pill generic propecia 1mg buy proscar pills
order aurogra 50mg order aurogra 100mg online cost estrace 1mg
diflucan 100mg over the counter fluconazole 200mg oral buy ciprofloxacin pills for sale
lamotrigine 50mg canada order vermox without prescription buy generic nemazole
order flagyl online cheap buy trimethoprim without a prescription generic cephalexin 500mg
cost retin gel retin cream ca avana 200mg for sale
buy generic clindamycin online buy clindamycin no prescription buy ed meds
buy generic tadacip for sale buy diclofenac 50mg generic oral indocin 75mg
order tamoxifen 10mg without prescription betahistine 16mg ca generic symbicort
cost terbinafine online card games roulette game
cefuroxime 500mg pills buy generic cefuroxime online order robaxin 500mg generic
order desyrel 50mg pill desyrel 100mg usa buy clindamycin generic
where can i buy an essay who can i pay to write a research paper purchase cefixime generic
purchase aspirin pill buy generic aspirin 75mg world tavern poker online
order trimox 500mg online cheap amoxicillin 250mg oral order biaxin 250mg sale
term papers writing essay for you best no deposit free spins
clonidine 0.1 mg pills purchase antivert sale order spiriva pill
calcitriol sale tricor order online order tricor for sale
prescription acne cream names list of prescription acne medication oxcarbazepine 300mg us
alfuzosin 10 mg price prescription allergy medicine list best medicine for acid indigestion
letrozole drug albenza 400 mg over the counter order aripiprazole without prescription
sleeping pills over the counter prescription weight loss medication qsymia cheapest prescription weight loss medication
buy provera tablets hydrochlorothiazide 25mg oral order hydrochlorothiazide 25 mg online
prescription meds to quit smoking anti inflammatory pain killers buy pain relief products online
periactin pill luvox canada order nizoral generic
buy herpes treatment online medication to prevent herpes outbreaks is insulin better than pills
how to buy duloxetine order cymbalta 20mg for sale order provigil 100mg for sale
antifungal tablets list herpes medication to prevent spreading blood pressure medications list names
buy promethazine online cheap generic phenergan stromectol tablets for humans for sale
gastritis relief for adults antiarrhythmic drugs chart easy remember gram negative bacilli isolated abnormal
order deltasone 10mg pills amoxil 500mg sale buy amoxicillin 250mg generic