Category Archives: Uber Revenue

What is UberSELECT?

 

It isn’t news that Uber’s services are fast outpacing Taxi services around the world. This post talks about the different aspects of the luxury UberSELECT service and how it differs from some of Uber’s other services. The UberSELECT service generally sits between the regular UberX service and the Uber BLACK service. Continue reading for more information on UberSELECT.

 

Mode of Service

UberSELECT is a premium service which requires driver service and vehicle quality to be “first-class.” To get high ratings, drivers will need to provide professional service at all times, considering the fact that these riders pay a little more than Uber X for the extra comfort.

As an UberSELECT driver, you have the option of accepting uberX requests.You should also know that the supposed peak times for UberSELECT are early mornings from 5am to 10am and then 7pm to 2am at later hours.

 

Vehicle Requirementsuberselect

In most cities, the UberSELECT vehicles must be 2009 or newer to qualify. The vehicles must also have a leather interior and 4 doors. Taxis or salvaged vehicles are not acceptable for this service. You can consider makes like Audi, BMW, some Cadillacs, Infiniti, Mercedes, Lexus and many others.

 

Driver Requirements

The driver requirements for becoming  an UberSELECT driver is not any different from the regular Uber requirements. You must at least be 21 years old and you must be able to provide these documents::

  •         Passport photographs
  •         A valid Driver’s license
  •         Vehicle registration documents
  •         Vehicle Insurance documents
  •         Other necessary documents proving your ownership of the vehicle.

 

Signing up

As far as signing up is concerned, you simply create an account on the Uber website (go here, we redirect you to a custom link with our referral code, please use it) and provide all of the information and documents that you are told to provide (as listed previously). Usually, new applicants are required to send the side, front and back pictures of the vehicle that they intend to use. You may later be formally interviewed. A background check will be performed to ensure that your criminal and driving records are clean, and this takes a few weeks.

 

How to Get Enrolled in UberSELECT

When your account is activated, you will first be enrolled in either the UberX or UberXL service (depending on how many seats your vehicle accommodates). To then qualify for UberSELECT you need to have a 4.75 rating or higher and have over 25 rated trips. This process will be monitored on a weekly basis. If you are able to meet up with this requirement, you will upgraded to the UberSELECT service to start making your extra cash. You can see that just like the name of the service suggests, even the drivers are carefully selected.

 

How UberSELECT Compares to Other Uber Services

Provided below is a sample comparison of UberSELECT rates and other Uber services in Dallas as at July 15th 2016 .

uberX uberXL SELECT
Base Fare $1.00 $2.50 $3.50
Per Minute $0.10 $0.20 $0.25
Per Mile $1.85 $1.35 $1.85

 

Hope you now have all the necessary information you need to become an UberSELECT driver.  

 

To signup for UberSELECT, please use our link here: www.uberkit.net/signup

 

 

Other Links:

For our blog posts on some of Uber’s Services, see the links below:

For other popular posts you might be interested in, check the links below:

 

 

 

To Increase Your Uber Revenue, You Need KPIs

Every mile counts! Learn How Easy It Can Be To Plan, Monitor and Verify Your Uber Revenue

 

 

How do you achieve a big goal without setting, working on, and measuring it? Yeah, we don’t know either. What we do know, is that the first step to making money and achieving your goals is to actually set them. The methods we will describe here can actually apply to all areas of your life, but as an owner of an Uber business, today we’re solely focused on your Uber Revenue.

We mean that in order to succeed you should pull out a piece of paper and a pen; a notepad or an app right now and take a stand for your own success. You need to get your thoughts out of your head and listed in some place that you will visually reference, often.

Your Uber Revenue goals are the measure of your success as an Uber business owner – and they are one of the most important Key Performance Indices (KPI) as you start or expand your Uber business. In our Uber owner business kit, we offer specific examples based on our experience and feedback from drivers around the world.

Uber Revenue

The formula which applies to every car you own is a proven equation, which we will summarize for you now. Also, it should be noted that there are slight market changes every day in the transportation industry, and knowing when to modify your line items is essential to producing accurate information.

The primary (not exhaustive) cost factors are:

  • Your daily operational costs like fuel
  • Periodic costs like oil changes, maintenance, and purchases
  • Monthly costs like insurance and loan payments
  • Annual costs like vehicle registration and any local licensing fees
  • Overhead costs like Uber’s fees and driver pay

Your Uber Revenue is the last factor of the equation. Your revenue varies based primarily on the following-

  • Rates charged to the riders ,be that regular or surge pricing
  • Demand for your drivers and their ability to log miles during most of their shifts,
  • Royalty paid to Uber business owners, after Uber takes their commission.

Although you can predict surge pricing, some of these factors are not entirely under your control. The data should be recorded, monitored closely, and after some time can be used to analyze your market.

Your revenue data also needs to be reliable so that your per mile equation is accurate! As discussed in our blog post on “How to verify your Uber revenue”, several software and apps exist in the market to support your efforts at accurately tracking every financial aspect of your business. Once your data has been verified as accurate, you then divide those totals over the expected distance you intend for each car to drive to determine your per mile revenue goal.  See our sample formulas below-

 

Become an Uber Driver

Expected Revenue per mile = ERPM

      • Expected Total Revenue from Uber = ETR
      • Miles Expected to Drive = EM
      • ERPM = ETR/EM

Revenue per mile = RPM

      • Total Revenue from Uber = TR
      • Miles Driven = M
      • RPM = TR/M

Your Goal

    • RPM is greater than or equal to ERPM

 

Note- Set a value for your ERPM, so you have a business target/goal, and actively monitor your RPM. Over the course of your business continue to compare your RPM to ERPM. Remember your goal is for the RPM to be at or greater than the ERPM.

Doing the aforementioned will help increase the odds of having a viable business. (Note, in this blog post we have not discussed monitoring costs, which is an essential element in ensuring profitability)

Depending on your KPI goals, you may find that taking advantage of revenue surges in your market either based on time or location will greatly impact your goal achievement. The small investment of your time, and additionally the use of our kit to detail the equation for you, will be a great tool for your business and a firm method for adhering to your plan and achieving your goals.

For other popular posts you might be interested in, check the links below:

 

 

Sign up to have our blog posts (catering to Uber Partners and Drivers) delivered to your email every week!  In exchange for signing up we will give you our highly rated report with suggestions to help you increase your Uber Revenue. We cover trending topics relevant to the success of your business as an Uber car owner or driver, as well as cutting edge improvements on how to improve the management of your business: like how to better control costs and increase your Uber Revenue. Thanks again for visiting! We look forward to hearing from you about your experience and being a part of your new growing business!

 

 

How much do Uber drivers make?

 

 

 How much do Uber drivers make

To view a larger version of this infographic, click here

 

 

We wrote this blog post because we often get asked the question – “ how much do uber drivers make ?” In coming up with the statistics discussed in the rest of this blog post we collected our information from the following sources:

  1. Publicly available Uber revenue statistics
  2. Statistics made available by Uber
  3. Driver interviews
  4. Estimations of earnings based on Uber rates per minute and mile (for individual cities across the globe).

 

“The results”:

  • 18% of Uber Drivers are Uber Black drivers (More than 6 months on the platform
  • 52% of Uber Drivers are Part timers (working less than 20hrs per week)
  • 42 % of Uber Drivers work over 20hrs a week
  • 20% of Uber drivers (1 in 5 drivers) work more than 40hrs a week

The estimated average earnings of UberX Drivers (before costs) in the United States is $45,448 per year before any costs..

Globally, estimated average UberX Driver earnings vary widely anywhere from $11,896 to $92,453 before any costs.

 

 

“Estimated earnings in 24 cities around the globe”:

 

#City Estimated Earnings in US ($) – per yearEstimated Earnings in Local Currency – per year
1Atlanta, US$39,929N/A
2Boston, US$46,032N/A
3Chicago, US$42,358N/A
4Dallas, TX US$39,602N/A
5Houston,TX US$43,965N/A
6Johannesburg, South Africa$38,892R 540,172
7Lagos, Nigeria$19,4983,899, 670 Naira
8London, UK$60,05838,999 Pounds
9Los Angeles, US$43,266N/A
10Mexico City, Mexico$15,596Mex $ 264,343
11Miami Florida, US$42,184N/A
12Minneapolis, US$47,037N/A
13New Delhi, India$15,7081,047,258 Rupees
14New York, US$63,127N/A
15Rome, Italy$65,57158,545 Euros
16San Diego, US$45,011N/A
17San Francisco, US$48,920N/A
18Seattle, US$49,165N/A
19Singapore$26,28137,015 SGD
20Stockholm, Sweden$47,087392,397 KR
21Sydney, Australia$53,763A$ 76,805
22Tijuana, Mexico$16,721Mex $ 283,414
23Toronto, Canada$41,86855,824 CAD
24Washington DC, US$43,950N/A

Become an Uber Driver

Note: The earnings estimates in the table above do not take into account any costs to the Uber driver. Also, the assumption here is that the Uber driver is driving under the UberX platform, and works 40hrs a week.

Note -For Uber Drivers and Entrepreneurs who have not downloaded our kit(s), we provide a vast amount of professionally vetted information and business analysis that will help you run a successful uber business.

 

(To view the infographic of this post, click here)