What kind of money is realistic?

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Now, we’re getting down to brass tacks and the subject new and prospective drivers are most interested in!  How much money is it realistic to expect can be made from ride share driving?

However, it’s not a question that’s simple to answer.  For the simple reason that there are so many variables, from what city you drive in, to what kind of vehicle you have, to how many hours a week you can drive and what hours you can drive each week.

It also depends on how good you are.  If you apply everything Sam teaches in Ridester’s video training lessons, especially in his Master Elite Rideshare 101 course, you can do really well.  But even then, there are limitations.  If you’re not getting things like bonuses and referrals and all the other things Sam teaches about, it will limit your income.

Sam drives in the mid-tier market of Minneapolis and he’s seen uberX drivers make around $1,400 a week.  And if you add things like food delivery or other kinds of services in between the busy driving times, you can even do a little better.

Ask Other Drivers to Show You How Much They Make

One good question to ask drivers if they share with you how much they make – is how many hours did it take for them to make it.  It’s one thing if you make $1,400 in 40 hours but quiet another if it took 80!  And don’t always take their word for it.  Guys like to brag and they’ll exaggerate their numbers to make themselves look good.  Or to even justify to themselves that this driving job is a good thing.  So, when you can, ask them to show you on their apps how much they’re making.  That will also show you how many hours they had to be online to make it.

Some drivers may not like to be asked, but if you challenge them rather than ask, they’ll often volunteer to show you.  For instance, when a driver tells you how much he makes, if it sounds really high, act like you can’t believe it and ask him, ‘are you serious!?’  Nine times out of ten when you express that skepticism they will pull out their app and show you.

Driving Higher End Cars

If you can drive an SUV or luxury Black car, you can do even better than the $1,400 Sam says is typical in Minneapolis.  Even if you take a lot of X trips with these higher end cars, you can still do well because if you get one Black or SUV trip, you can make as much in that one trip as you can make on X all day long!  So, you can drive X most of the time, but always be available for the higher level trips and if you get two or three of those in a day, it will really add to your income.

The Human Factor

To make that much money in a week though, takes a lot of time.  You’ll be on the road definitely more than 40 hours.  It will be more like 50 to 60 hours or sometimes even 70 hours a week to consistently make that kind of income.

Sam is a great example of the human factor.  He’s married and has three kids.  So, there are times when he just can’t be out on the road, where a single guy could.  Maybe it’s his wife’s birthday and he wants to spend the day with her.  Or one of his kids is in a school play and he wants to attend that one night.  And perhaps that’s the one night when it’s really busy in Minneapolis with a lot of events going on!  Well, he’s going to lose out on a lot of money because he has other responsibilities and obligations in life.

Another factor is the tiredness factor.  It’s easy for a driver to wake up on the first day of his work week and vow that he’s going to work early mornings, afternoons and late nights.  He knows he’ll make $100 in the morning – driving six hours from 4:00 a.m. to 10:00 a.m.  He also knows he can probably make another one hundred dollars later that night working the bar scene until 2:00 a.m.

There’s just one problem though.  If he works that night until 2:00 it’s going to be very difficult for him to start driving again at 4:00 a.m.!  He may have thought it was a great idea at the beginning of the week.  But now that he’s really out on the road doing it he suddenly realizes… he needs to sleep!

If you could work early mornings and late nights, you would make a little fortune doing this.  But you can’t and nobody else can either.  At least not for long.  You might be able to knock it out one or two nights in a row.  But by the third night, you’re going to collapse!  So, when you’re strategizing and coming up with a schedule and the times you want to work – keep the human factor in mind.  Remember that you are human and you have basic human needs, namely the need for sleep and rest!

Reasonable Expectations

Sam points out that you’re not going to become a millionaire from driving Uber and Lyft!  But you can make a pretty decent living, say around $60,000 a year, if you’re free to work a ton of hours each and every week of the year.

Of course it depends on where you live and drive.  You may earn more in New York, L.A. or Chicago where Uber and Lyft are super busy all the time, than in a smaller city.  But you can still do okay in medium size and even smaller towns if you’re willing and able to put in the time.  And if you drive smart!

With this as a general guide, you should be able to come up with an even better estimate of how much you can make by talking to other drivers in your city and considering your own circumstances.  Questions you should ask are:

  • Are you available to work 10-12 hours a day?
  • Do you have a family, children or other obligations that could significantly eat into your time
  • Do you have other work or another job that could restrict your driving hours?
  • How knowledgeable are you about your city, its culture and its streets?
  • How good are you with people?
  • What kind of car do you have to drive with – a low-end X car or a higher end car?
  • How busy is your city?
  • What are the rates of pay in your city?

All those factors and more will determine how much you can make.  Your knowledge of that, plus the great tips you can pick up in Ridester’s video training program – will help you get closer to reaching your goals.

Resources


Video Transcription:

So the most obvious question in why you’re doing this, except obviously because you love people and connecting with them and all the cool benefits of the freedom of rideshare, is, “Can I make money?” “What kind of money can I make?”

Now, I can’t give you a straight answer, not because I don’t want to give you, but because I can’t. Here’s why. Depending on what kind of car you drive, what market you’re in, and your availability will depend [on] everything. And how good are you?

If you apply everything in all my courses, especially in the Master Elite Rideshare 101 course, you can do really well. But even then, there are limitations. If you’re not getting bonuses and referrals and all these other things that I’m going to talk about, that’s going to limit your income.

So I’m gonna give you some general numbers that I know some of you guys are going to be upset at because they’re not being faithful. But every market is different, so I’m going to give you generalities, okay?

So for my mid-tier market, Minneapolis, Twin Cities is a mid-tier market. I think you can make, and I’ve seen other people, and I’ve tried it, tried weeks that I worked a ton, you can make around $1,400 an hour just doing UberX.

Did I say $1,400 an hour? I mean $1,400 a week, okay? $1,400 an hour, sign me up for that. So email me if you know how to do that. $1,400 in a week, you can do just doing the regular platforms, and if you add different things like delivery and other kinds of services in between.

Now, if you can drive with an SUV or a luxurious car, you can increase that a lot. And if you have complete freedom, like I have limitations because I have three kids and a wife and other jobs, I can’t just work all the best peak times.

That’s also going to affect your time and how much you can make. And [you] also have to consider how good you are. And so all these things will factor in.

If you are able to do other things like referrals and other kinds of things like teaching, there’s a lot of things, you can make the six digits. And if you have the nice car, you can do it.

And the other big factor is what kind of market are you in? If you’re in a really good market that’s really busy and there’s high clientele, that could really work. So L.A., New York, [are] a lot more doable than a smaller city. So keep that in mind.

So, again, I’m not giving you a straight answer, but you can make pretty good income. But can you be a millionaire? No, you won’t be a millionaire. So when people say you can make as much as you want, that’s not true.

You can’t make as much as you want. There are limitations, so you have to consider that. What is your standard of living? And so if you’re happy making $60,000 a year, you can do that with rideshare.

It’s hard, but you can do it. But you may be driving 50, 60 hours a week. I know guys who don’t make good averages, but they work and they grind and they work a lot of hours. And you know what? They make $60,000, but they don’t have any time to live and they’re tired all the time.

So factor all those things. You know your situation, I don’t, but those are the general guidelines and the general ideas of what you can earn.



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