The boom in the economy brings a boom in every business. India is the best example where there has been a complete makeover in the situation. Businesses are much advanced and superior today using the best of technology.
Reports say that the taxi business has increased manifold in the past few years. People don’t mind hiring taxis while commuting locally or outstations. Booking a car is no longer remains a status symbol, but it is a necessity today.
No wonder, there has been a phenomenal improvement in the cab market. Today, we find not only local players such as Ola, Meru or Mega but also world leaders like Uber as well.
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International players like Uber made the scenario interesting
Today, car owners and drivers have several avenues of earning. They can attach their vehicles to global players such as Uber and earn handsome money. Not only is it a renowned and reliable company, but it also offers the best policies and processes.
In the disorganized market of private taxi hire in India, customers get a sense of reliability when they hire cars from a globally famous company such as Uber. Drivers also get recognition when they represent an internationally acclaimed brand. Thus, it is a win-win situation.
Uber Earnings are quite impressive
Estimates say that Uber drivers or car owners earn as high as 3000 INR per day in big cities like New Delhi, Mumbai, Bangalore & Hyderabad. There is a potential of around 90000 INR per month or even more on a full-month working basis. Even if we consider six days a week, then the amount comes out to be 70000 INR which is an impressive figure for sure.
A case study on Uber Earnings
Well, the question has a subjective answer. You need to look at the place where he drives, and the distribution of the peak and off-peak hours. What is the frequency of getting customer and how much is the average distance? Look at these things before jumping to the conclusion.
Let’s take a typical example of a city (say Bhopal) where the incentive rates are as below:
For 6 trips you get 1200 Rs.
For 10 trips you get 2000 Rs.
For 12 trips you get 2400 Rs.
For 15 trips you get 3200 Rs.
Suppose the peak time is 11AM to 10 PM. In such a case, you need to do a particular number of trips in the peak hour slot to become eligible for the incentive. Also, the rating should be above 4 to get the incentive. If your driver gets low rating consistently, then you may end up in a distressing loss.
Now say your driver makes 10 trips a day which means he earns 2000 Rs. Per day. It comes out to be 60K per month. Impressive, isn’t it? However, this is the gross income. You must not forget the expenses incurred in running the vehicle.
Assume that the car is EMI free. Consider 15000 as the salary given to the Uber driver. Around 20000 are for fuel and roughly 3000 are the maintenance charges. You need to spend 3000 rs for the Internet connectivity and calls. Keep 3000 rs as miscellaneous expenses. The total Uber earnings in this example comes out to be 42000 rupees.
Thus, your Uber earnings work out to roughly 18000 a month if you have only one car and daily the car completes 10 trips.
There have been several cases where drivers made undue profits by exploiting the loopholes in the system. Earlier there were fewer checks and controls, but Uber has improved the system now to make it nearly foolproof. For example, drivers used to book their cabs from a different account and cover small distances just to increase the trip count. Later Uber put restrictions on downloading Uber app on the registered mobile of the driver. Also, there were multiple authentication checks while booking the trip. Also, the minimum distance between the customer and the cab was increased to half a kilometer to avoid fraud. Repeated Logging in and out is not allowed now.
If a driver works for 10 hours a day and six days a week, he can easily earn between 30K and 40K which is a reasonable amount.
Discount offers attract customers
Uber has regained the momentum after the momentary slowdown after some indecent incidents happened in New Delhi. After the assurance of Uber about safe services, people have started believing in the company. It is visible by the increasing graph of income recorded by the Uber drivers.
The level of income is directly proportionate to the time and efforts put by Uber drivers. Uber offers immense flexibility to the drivers about working hours and schedule. Hence, Uber earnings can be as much as they want. In fact, when they work with Uber, there is no need of working anywhere else.
If you are planning to join Uber as a driver, then you must set the targets first. You must know how much can you earn by attaching the car to Uber. It gives a fantastic chance to earn handsome money.