Ridesharing has become a typical side hustle in the United States. It has reached more than $80 billion in market value, and it’s expected to gain more revenue as more people join it. However, ridesharing is becoming highly competitive, and saving money is one way to earn more in this market.
You’re in luck if you’re looking for ways to earn more money as a rideshare driver. There are several things you can do to increase your earnings. Here are five ways to make more money as a rideshare driver, from sign-up bonuses to tips.
Join a Rideshare Service
If you’re not already driving for a rideshare service, you can sign up with one that offers a bonus. For example, Lyft currently provides a $300 sign-up bonus for new drivers in select markets. That’s an extra $300 in your pocket just for signing up and completing a certain number of rides. Uber also offers sign-up bonuses, though they vary by market. So if you’re not already driving for a rideshare service, consider signing up with one that provides a bonus.
Drive During Surge Pricing Hours
Surge pricing is when ride demand is high, and prices are increased to meet that demand. As a result, you can earn more per ride during surge pricing hours as a driver. So if you’re looking to boost your income, consider driving when demand is high. You can check your rideshare app to see when surge pricing is in your area.
Offer Incentives to Passengers
Another way to boost your income is by offering incentives to passengers. For example, you could provide a discount for passengers who book their rides in advance or those who use your services frequently. You could also offer passengers the option to pay a little extra for premium features like choosing their music or having the air conditioning on during their ride. By providing incentives, you can attract more riders and boost your income.
Save on Fuel
Fuel prices reached an all-time high this year, reaching about four dollars per gallon earlier this year. Saving fuel money is one way to increase your earnings as a rideshare driver. Here are three ways you can do that.
Use Fuel Additives
Sometimes, your engine isn’t running as efficiently as it could be, leading to higher fuel consumption. A robust fuel conditioner can ensure that your engine converts your fuel into energy as efficiently as possible, reducing fuel consumption and saving you money. It does this by cleaning your fuel system and removing deposits that can build up. It’s also great if you want to be more environmentally sustainable.
Check Your Tire Pressure
Underinflated tires can lead to higher fuel consumption, so make sure your tires are properly inflated. You can check the recommended tire pressure for your car in the owner’s manual or inside the driver’s side door. It’s also important to regularly rotate and balance your tires for optimal fuel efficiency.
Plan Your Routes
Planning out your routes ahead of time can save you both time and money. Use a GPS app or map your route to find the most efficient way and avoid getting stuck in traffic. This will also save you from making unnecessary stops, reducing idle time and fuel saving.
Get Tips from Passengers
In addition to fares, drivers also earn money through tips from passengers. So if you’re looking to boost your income, give passengers excellent service so they’ll be more likely to tip you well. You can also try asking passengers if they’d like to leave a tip at the end of their ride. While it’s not guaranteed that every passenger will tip, it’s worth asking since it could result in more money in your pocket. Here are three other strategies so you can get tips from your passengers:
Offer Amenities
If you want a great tip from your passengers, try offering small amenities like water bottles or mints. This will enhance their experience and leave a positive impression, making them more likely to tip you well.
Be Friendly and Engaging
Having friendly interactions and conversing with your passengers can also leave a positive impression and result in higher tips. So make sure to greet your riders with a smile and ask them about their day or plans for the evening.
Provide a Smooth Ride
Of course, providing a smooth and comfortable ride is also essential in getting tips from passengers. Avoid harsh braking and stick to smoother roads to ensure an enjoyable experience for your riders.
You can do several things to increase your earnings as a rideshare driver beyond simply giving excellent service and hoping for tips from generous passengers (though those are both important too). From signing up with a service that offers bonuses to driving during times of high demand, there are several ways you can boost your income as a driver. So if you’re looking for ways to earn more money as a rideshare driver, keep these five tips in mind and start earning more today.
