RIDEGURU
It’s a fact that most rideshare drivers don’t treat rideshare driving as a business and jump in their car and accept every request with a daily $ goal in mind regardless of how long it takes to achieve it in the process of beating their cars into a pulp.
Do you treat driving for Uber & Lyft as a business? Do you keep detailed spreadsheets to find out if you’re making money?
Posted 5 years, 5 months ago
Posted In
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Posted By
Sergio Avedian (Uberserge)
1300
Rider
Driver
Ride Apprentice from Los Angeles, CA
Blogger, Podcaster, Active Rideshare Driver/Coach
Active Uber/Lyft driver in Los Angeles, contributing writer for Rideguru and RSG (The Rideshare Guy), podcaster, rideshare driver coach, independent consultant to rideshare and tech companies.
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Comments
Used to. No more. I just trust Uber's statements. I realized that no matter how much I stared at my spreadsheets, it didn't get me more rides.
I definitely do not keep spreadsheets. I feel like the time it would take me to keep detailed notes on everything would just decrease my per house rate that much more. I don't have the extra time to play games.
Play games? How do you know if you're profitable unless you're on a U/L rental, then you need to ant anyway by accepting every garbage ping thrown your way. If you're just deducting your gas and monthly payment, it'll be rude awakening when time comes to replace your car. If you're driving uber x or regular Lyft, you have to understand with today's rates you're losing money.
I don't really see anyway around this though, what is your devised secret weapon then from your spreadsheet? Luckily my car was already paid off and I do put away money for my next one.
You're doing it right as long as you're saving for your next car, even though you're not keeping tabs on your profitability. 80% quit in less than 8 months because it takes that long to digest the U/L Koolaid.
What class do you drive? What city and at what base rates?
I've done detailed P&L statements from the first day I started driving, from three years ago to now two things have drastically changed, my gross earnings are down, my expenses are up, like gas, insurance and maintenance. Gig is dead!
Shocked U/L can find all this fresh meat to grind.