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01 CONTENT
02 DISCLAIMER & CONFIDENTIALITY NOTICE
02 1.1 General Disclaimer & Confidentiality Notice
04 DOCUMENT OVERVIEW
04 2.1 Know your Staging Points
2.2 Know Uber Rates
07 2.5
2.6
Restaurant Week
Eventbrite is your friend
10 2.10
2.11
Downtown
Nightlife
General Disclosure
The information provided in this report is confidential information of and proprietary
to Honcho LLC and is being furnished with the mutual agreement that you shall keep
such information confidential. No part of this document can be reproduced in any
manner whatsoever without prior consent of the author.
In preparing this assessment, Honcho LLC has not sought to independently confirm
the completeness or accuracy of the information and will not be responsible for any
omission or misrepresentation in its Assessment arising out of reliance on such
information.
This assessment was based on the Dallas, TX Market. Honcho LLC identifies what we
believe are the key assumptions for this assessment and believes they can be
extended to other markets accordingly. It is your responsibility to ensure that you
adjust the key assumptions that are relevant to your own market
Honcho LLC does not warrant or make representations in respect of the accuracy or
completeness of this Assessment.
You shall be responsible for determining whether to use or refrain from using any
suggestions or recommendations made by Honcho LLC
URL Disclosure
The information provided in this document has some urls/links and codes which
are aliate in nature. You may get a free ride or other forms of compensation if you
use them.
Published:
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Quick Tips for Uber Drivers: Driving Smart and Maximimizing Revenue
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Quick Tips for Uber Drivers: Driving Smart and Maximimizing Revenue
OVEREVIEW
DOCUMENT
City Base Rate Safe Ride Fee Min. Fare Cancelation Fee
$2 Base Fare
Springfield,
IL
+$0.20/min $1 $5 $5
+$1.65/mile See the current
rates for the
$7 Base Fare
Saint Louis, cities mentioned
MO
+$0.45/min N/A $15 $10 here:
+$3.55/mile
https://www.Uber.com/cities/springfield-il (Springfield, IL)
https://www.Uber.com/cities/st-louis (Saint Louis, MO)
Purchased by Muhammad Shabbir, muhammads786@outlook.com #9926643
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Quick Tips for Uber Drivers: Driving Smart and Maximimizing Revenue
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Quick Tips for Uber Drivers: Driving Smart and Maximimizing Revenue
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Quick Tips for Uber Drivers: Driving Smart and Maximimizing Revenue
If you love food and have a little bit of cash, then you probably got excited like me.
Restaurant weeks across the country are typically cash cows for restaurants, and
now they are cash cows for you - the Uber driver. Wherever there are lots of people,
especially young, hip, and trendy people then there is an opportunity for you to
make money driving with Uber.
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Quick Tips for Uber Drivers: Driving Smart and Maximimizing Revenue
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Quick Tips for Uber Drivers: Driving Smart and Maximimizing Revenue
You might be asking how do I find where these consultants congregate? Well it is
by asking questions. Remember that section we went over?
b) They typically go to work every day in their clients city: Sometimes there are
constraints that prevent consultants from renting cars. i.e. Client restrictions, cost
restrictions, or sometimes parking in the city they are in is a hassle (for example -
Washington DC).
If you know where the consultants lodge (you can find scores of them at some hotels,
from different consulting firms) you can make these particular hotels your staging area.
On Mondays through Wednesdays, these consultants will typically leave to work from
their hotel between 6am and 9am. You might be able to make multiple round trips in
that time!
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Quick Tips for Uber Drivers: Driving Smart and Maximimizing Revenue
2.10 DOWNTOWN
Conversations I have had with
multiple Uber drivers suggest that in
most big cities (with surrounding
suburbs), there is more demand for
Uber service downtown during the
day (8am to 5pm). In the evening
(6pm to 11pm), the demand is more
in the residential areas (suburbs).
Know the specific patterns for your
Image source: glennremoreras.com city!
2.11 NIGHTLIFE
Knowing where the hot clubs and
bars are in your city is also
important, especially if you are
comfortable with driving at night.
From about 10pm to 3am in most
major cities, there would probably
be lots of people leaving to/from a
club. Know the specific patterns for
your city!
Image source: tribecalimo.com
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Quick Tips for Uber Drivers: Driving Smart and Maximimizing Revenue
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Quick Tips for Uber Drivers: Driving Smart and Maximimizing Revenue
If by chance you forgot to start the fare (via the Uber app) half way into the
journey, you can initiate a fare review once the trip is completed. You would
have to explain via email why the specific Uber passenger was undercharged
and the pickup and drop-o location for the passenger. In this particular
instance, you reduce the amount of lost revenue by doing this.
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Quick Tips for Uber Drivers: Driving Smart and Maximimizing Revenue
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Quick Tips for Uber Drivers: Driving Smart and Maximimizing Revenue
As an independent consultant the difference between a big refund and a negligible refund
is keeping track of your expenses. (You should probably talk to your Accountant about
other things you should keep track of ). Some of the items you should keep track of are:
Your Mileage (Keep a mileage log
handy and document your trips
each day)
Meal Costs
Personal Food Expenses
Food Expenses for Riders (for
example if you give them free
water) Image source: bustlet.com
Car Maintenance
Auto Repair Expenses
Auto Maintenance Expenses
Gas Costs
Phone Costs (Document calls made
to passengers and minutes used)
Image source: rearman.com
Note also-
Tax Liability: Independent consultants make payments to the IRS quarterly if their tax
liability is more than $1000 each year. The IRS has a form 1040-ES which helps you
calculate your estimated tax payments.
Self Employment Tax: As a self employed independent consultant you are also
responsible for paying your Social Security and Medicare taxes; however this is usually
done at the point you file your taxes in April of each year. Note a portion of these
taxes are also deductible from your previous years revenue in the tax form 1040.
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