How To Make Money From RideSharing Apps: Uber, Taxify, & OgaTaxi

How To Make Money From RideSharing Apps | Image Source: Pexels

Ridesharing apps, or e-taxis as people know them, are growing exponentially fast in Nigeria and many other parts of the world. They’re a new concept in a world that almost everyone said was going to fail, only to end up becoming billion dollar companies in the process.

Some well-known examples in Nigeria are Uber, Taxify, OgaTaxi, and a host of others whom more people now use to move around their cities to wherever they want to go to.

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But First, What Are Ridesharing Apps?

Ridesharing apps are mobile applications that allow a user to book a taxi from wherever they are with a few clicks on the app.

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What Makes Ridesharing Apps Special?

The most popular ridesaring apps ensure that whenever you book a taxi from their app, a great looking car with no branding on any part of it would pull up to your location within a span of 5 to 10 minutes to take you to your destination. These cars are usually fancy and owned by people who registered their vehicles on the ridesharing platform.

Two ride-sharing apps that have taken Nigeria by storm and have got a lot of people signing up their vehicles on them are Uber and Taxify.

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How To Make Money From Ridesharing Apps

There are three ways to make money from ridesharing apps. These methods are distinct but related because every part works together. They are:

1). Register Your Car As A Partner:

If you own a vehicle that gets parked most of the time, you could as well register it on ridesharing platforms like Uber and Taxify. When you do this, you’d be asked to select from a pool of drivers whom will try to convince you they’re the best individuals to drive your car. In the process of negotiations, you and a driver would come to an agreement and have the ridesharing company pair the driver to you.

Before pairing, a couple of factors go into choosing the right driver-partner.

a). Price: Depending on the fuel consumption rate of your car, its make, year of manufacture, and more, you could earn anywhere from 35,000 Naira to 45,000 Naira weekly, which the driver is expected to pay constantly to you.

b). Driver’s Background: Having had two cars on a ridesharing platform, knowing how critical it is to check the driver’s background to the last pain-point came at a huge cost to me.

You must research the driver completely. Know where he leaves, where he worships, and more. Preferably, pick a young married driver with kids that his family lives in the same state as you and visit his home to verify. This way he’s conscious that he has a young family to take care of, and his element of youth will drive him to deliver.

Also ensure you choose a driver that has been driving in the system already, not just a brand new driver. New drivers will cost you money and time. Most often than not, you’d spend all your income weekly on repairs with them.

Ensure the driver is made to sign a contract and also brings two sureties that work in comfortable verifiable locations.

2). Register As A Driver:

When you register as a driver, you go in search of a partner who registered his car, and then strike an agreement with them in terms of payments and more. Based on how you’re able to work, cover the cost of fuel, and more, you would get to keep whatever is left at the end of every week.

3). Affiliate Program:

Uber, for instance, offers a cash reward for every successful referral. Since the terms of the referral are not stable, they could sometimes offer 20,000 Naira or 40,000 Naira for every successful referral you bring in.

At 20,000 Naira, if you get 10 people to sign up on their ride-sharing platform, you’d earn 200,000 Naira which would be automatically credited to your account without the need to visit their office for anything.

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So How Do You Register On A Ridesharing Platform?

Step One: Visit Their Website

Depending on which ridesharing platform you’d be going with, the first step is to visit their website and sign up as either a partner or a driver.

Step Two: Go For Inspection

After the sign-up process, you’d be expected to take your car in for an inspection, or if you’re signing up as a driver, you’d be expected to come in for a course and an exam which you must pass.

Step Three: Get A Partner

If you’re a car owner, you’d need to partner up with an accredited driver of the ridesharing platform, pair yourselves at their office or online, and do your due diligence on each other before committing to a transaction.

Step Four: Start Getting Paid

After getting a driver-partner, you’d need to ensure he abides to the rules of the platform, works also by your own rules, and in the end is able to pay you what you’re due. From experience, if the driver defaults on one payment, he will never be able to maintain any other consistent payment.

The moment a driver defaults, take whatever csh he offers you and give him one more week. If he defaults again, find another driver.

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To Sum It Up

As a car owner, you can earn up to 35,000 to 45,000 Naira weekly on a ridesharing platform, but ensuring you have the right driver is the key to your success or failure. Before you take a plunge with any driver, investigate everything you can about him, find out where and who he lives with, and ensure you monitor him extra closely.

The driver you go with is ultimately the major determinant of everything. With the right driver, your business will succeed.

 

What are your thoughts on how to make money from a ridesharing apps? Let me know by leaving a comment below.

 

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