As the owner of an Uber business, or fleet, you set the tone and are the authority over your drivers particularly in the areas of earnings and quality of service! You are the person in control of operations at every level of your business and are ultimately responsible for making the success of the uber business model as it relates to your business.
There are many factors that determine if your business will be profitable. You need to be aware and in control of all aspects of your business to ensure profits, which is the growth engine of this business.
Believe it or not, revenue is not the only driving factor, though it is a major one. Be sure to also educate yourself by reading our other material on how to control costs and manage other aspects of your business that may negatively impact your revenue. While it’s true that you will make more money as an Uber Black fleet owner as compared to an UberX fleet owner, these suggestions apply to any kind of Uber business, as well as other rideshare and transportation services. We hope you enjoy these tips and the savings right away!
Your revenue is earned by transporting Uber’s worldwide network of riders in your fleet of cars and also referral revenue for new drivers you have added to the Uber network.
Your revenue, as you know, is calculated using the distance driven and the time spent waiting, or actively transporting the customer (such as waiting in traffic). Although Uber does report these earnings to you, it is the responsibility of every owner to confirm the miles drives and time spent on a ride. Would you pay a service person who worked on your home without knowing the work they did? No, you wouldn’t. Well, the same goes for your business. For this same reason you must track, for every car and driver, their mileage, fueling, time waiting and time performing rides.
There are several tools to help make this process easy and verifiable. Have a high quality GPS tracker installed on your car that tracks time, routes, and enough distance to include your entire transportation service area. In addition to using a GPS tracker, also verify the information yourself by reading the odometer (checked-in and checked-out miles) with your own eyes. There can never be enough checks and balances to be sure you are being paid accurately for the work of your cars and drivers!
We recommend reviewing the data from each car’s dash panel (2ce a month) to check on the car’s health, and also the mileage since your last check. After getting your revenue summary from Uber, use the dash panel information to provide your first revenue validation (a comparison of miles driven vs. miles billed)
Next, verify those first two data points (checked-in and checked-out miles) against the data provided by the GPS tracker installed on your car. Now you have more information further verifying the accuracy of your data.
In our uberkit(s) we provide you with tracking options for the driver and suggest you use both a physically written method, as well as any number of downloadable driver assistant apps that track time, location and distance of a given shift. Now you have the information you need to analyze your revenue, and contact the company or your drivers to settle any discrepancies.
Ensure you have revenue goals (per mile) for your car(s) so that this data has meaning. This will help determine how you are progressing toward your weekly, monthly, quarterly and annual profit/ROI (return on investment) goals!
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