Lots of people with extra time and a need for more income are considering becoming a driver on the side for companies such as Lyft or Uber. Being a part-time driver can help you reach your financial goals a little faster while maintaining control of your hours and work days. If you want to be successful in your new venture and rake in the cash, there are some things you need to set up before starting a new driving job. Here are the essentials part-time drivers should invest in if they want to make the most income.
A Reliable Car
Being a successful Lyft or Uber driver starts with a decent car. If your car isn’t reliable enough to get you to and from your job or school, you may need to put some money into repairs or upgrade to a better car. There’s no need to purchase a brand new, fully loaded vehicle, but you will need something that will attract potential passengers and not keep them away from booking your services. If you want to take in more passengers and more revenue, a larger vehicle like a van or SUV may be a good choice.
The next thing to tackle in your side driving business is cleanliness. Even if you’re driving a luxury car, no one will want to book you if your interior is a mess. It may be worth it to schedule routine detail cleanings so your car always looks and smells fresh. If you’re short on cash, you could try to do your own home version of the detail clean. You’ll just need a few hours cleared away on your schedule and some basic cleaning supplies.
Strong Social Media Presence
Your social media account can also be a great source of new business leads if you drive on the side. You can opt to spread the word about your new venture via your personal social media page or upgrade to a business page. Investing in a business page may cost a bit more, but you could reach many more potential customers beyond your basic list of friends and family.
Quality Car Insurance
If you do any driving for your job, it’s also vital to have a talk with your auto insurance agent. Your current policy may not provide the right amount of coverage for your new business. If you happen to live in for example Atlanta, it makes sense to search for new Atlanta auto insurance coverage. Your agent can look over the number of hours you typically drive for business and give you some options to help maintain the top level of collision and liability coverage. This way, you could be protected if a passenger gets injured in your vehicle.
When you sign up to be a driver for companies such as Lyft and Uber, you become an independent contractor. Independent contractors are similar to self-employed individuals and don’t get employment taxes taken out of their paychecks. When tax season arrives, some side drivers are given a terrible surprise and owe money to the IRS. You can plan ahead by putting some money aside each month to cover those employment taxes that will be due in April.
Helpful Extras for Passengers
The last thing you should consider investing in for your new business venture concerns your future passengers. The most successful side drivers focus on more than just the drive; they try to provide a great riding experience for their guests. This may mean a subscription to a satellite radio service, internet connectivity for your car, or some convenient essential toiletries to make your riders happy.
Making money through part-time driving is a great way to increase your income each month. Make sure you also spend some time investing into your new business to maximize your earnings.