Infographic

by Christian Perea on January 17, 2018 11 Comments

Rideshare vs Delivery Compared [Infographic]

I get a lot of questions about whether or not delivery is better than rideshare driving, and unfortunately the answer is: it depends. But that’s actually good news, because in some cases delivery might be better for you, or rideshare driving may make more sense. To help break it down, senior RSG contributor Christian Perea presents the following infographic, which compares delivery to rideshare driving.

Like this infographic? You can share with the embed code below!

There are a lot of similarities between rideshare and delivery jobs, so it’s important to examine the differences between the two. It’s interesting to compare and contrast rideshare and delivery since there are actually a lot of little things that make these lesser known side-hustles a little bit different. Personally, I find that on certain days I prefer to do one over the other based on how busy it is, what incentives are being offered and whether or not I want to deal with strangers in my car.

Most of us already drive for Uber or Lyft, but I always recommend having a backup plan by also signing up for a delivery company. If you want to start off delivery with a good company, I recommend checking out Caviar since in my experience I end up spending less time waiting at restaurants and they always have the delivery ready for me when I get there (which minimizes downtime).

New Uber Drivers Get Guaranteed Earnings!

Sign up with Uber now and get up to $1,000 in guaranteed earnings depending on your market! Sign up here using my referral code today and start driving today. Check with Uber for guaranteed earnings amounts by city.

[Read more…]

by Christian Perea on January 11, 2017 18 Comments

The Hidden Costs of Rideshare Driving (Infographic)

Harry here. Today, RSG senior contributor Christian Perea shares an infographic around the hidden costs of driving for rideshare services like Uber and Lyft. We partnered with QuickBooks Self-Employed to make this infographic to encourage financial wellness amongst drivers. Personally, we’ve seen a lot of drivers over the last few years who ignore a lot of these hidden costs.

It’s easy for rideshare drivers to focus on the income they make every day but in this line of work, there are a lot of hidden costs when you drive for services like Uber or Lyft. And if drivers don’t pay attention to the burdens of being self-employed, they could be in for a steep (and expensive) learning curve.

The extra responsibilities of being an independent contractor aren’t advertised when signing up to haul people around in your Prius. Check some of them out below; [Read more…]

by Christian Perea on July 25, 2016 129 Comments

What’s The Real Commission That Uber Takes From Its Drivers? [Infographic]

Harry here. I’ve always had a problem with the lack of transparency when it comes to TNCs like Uber and Lyft. There are countless examples of this, but today we’re going to focus on the commission they charge their drivers. For an app that just ‘connects passengers and riders’, it sure does seem like they take a big cut, and that number is only increasing.

Over the past few weeks, RSG senior contributor Christian Perea and I have been examining the real commission that Uber takes from its drivers, and today we’re presenting that information in an infographic. If you’d like to share this infographic on your own website, feel free to copy the embed code at the end.

TNCs like Uber and Lyft have long advertised that they charge only a 25% commission of the fares they earn. However, these figures ignore the “Booking Fee” that both companies assess on top of each ride, which goes solely to the TNC. The resulting effects of this fee and the 25% commission mean that when passengers step outside of their Uber and only see a $5 charge, the driver will only get around half of that.

To make matters worse, Uber and Lyft have consistently cut prices so that most drivers are now driving twice as far to earn the same $10 dollars that they made only two years ago. The result is that drivers are forced to drive longer hours while incurring heavier expenses, even with gig job bonuses like the Uber driver sign up bonus and Lyft driver sign up bonus.

To reduce expenses, we recommend seeing if you can deduct your rideshare insurance and mileage from your tax bill using the Stride Tax App.

In the infographic below, we examined a collection of UberX trips in San Francisco to show what the real take home pay of an Uber driver looks like and show that these “Booking Fees” translate into a much higher commission than the 25% these companies advertise.

[Read more…]