Uber Needs to Make More Money Per Ride
Over the past four weeks, Uber has only made 6.2% ($273.82) of the fares passengers paid for my car. That's not enough for Uber to survive as a business.
Last Four Weeks
I know, we're Uber drivers, and we're supposed to want to make more from Uber than Uber makes from us. And based on this small sample, the good news is that we do. I earned 72.7% of the fare. Taxes and insurance made the 21.1% balance.
The problem is that drivers that complain only calculate per ride, not the total payout we get each week. I agree that if a passenger pays $10, we get about $5 for that ride. However, we also need to add the quests we get paid for at the end of the week. Quests represented 19.6% of my total earnings over the four weeks. Interestingly enough, in the one week I earned only $25 in quests, Uber made the most money.
I want to make more money. But also want Uber to make money. If Uber can't make money, they go out of business, and I lose my Uber income. It's a challenging economic equilibrium that Uber must balance.
Of course, I'm only looking at four weeks in my market. Yet, my point is still valid; we need Uber to win too. Maybe we should be more upset with the fees than Uber trying to earn a profit.
How much should Uber make?
What should you make per ride?
Is it good for Uber to make a profit?
