Startup Costs: $10,000 - $50,000
Part Time: Can be operated part-time.
Franchises Available? No
Online Operation? No
Got a car and want to do something with your spare time besides endlessly scrolling on your phone? Uber and Lyft, the trailblazers of the ride-sharing revolution, have brought in hundreds of thousands of drivers who have the same, well, drive. A serious perk of being a rideshare driver is the flexibility. No need to plan out your working schedule weeks or even days in advance. With just a simple click of a button, you can effortlessly toggle your availability on and off, ensuring that you can rake in the cash no matter the time of day or night.
How much money can you make as a rideshare driver?
Business Insider reports that Uber and Lyft drivers make approximately $35 an hour, but that overall compensation can vary wildly depending on location, tips and number of trips made.
What kind of experience do you need to have?
"To be an Uber driver, you must have a valid background check from the police, a newer four-door car and pass an interview. This is equivalent to what is required of taxi drivers." —Sverre Rørvik Nilsen, Business Insider
What’s the most important thing to know about this business?
"Unlike taxi drivers, drivers on UberX, Lyft and Sidecar’s platforms are considered independent contractors. According to the startups, their apps simply match up a contractor available for a job with a customer willing to pay for the service. Drivers are responsible for paying any on-the-job costs like gas and vehicle maintenance, and they don’t receive any benefits." —Nellie Akalp, CEO of CorpNet.com, a legal-document-preparation filing service
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