How To Get More Money With Lyft

If you lot are looking for ways to earn more cash and you like driving your car, you might want to consider working for a rideshare visitor such as Lyft.

Lyft was founded in 2012 and produced over $two.2 billion in revenue in 2018. Patently, the idea has taken off.

Lyft drivers make coin by taking people who don't want to – or can't – drive themselves to the places they need to be.

Related Post: Lyft Versus Uber: An In-Depth Comparison

In This Article

Why Lyft is Highly-seasoned to Riders
Driving with Lyft Can Be a Bully Side Hustle
Run a Smart Lyft Business
- Drive During the Busiest Times
- Bulldoze a Fuel-Efficient Vehicle
- Know Where the Lowest Gas Prices Are
- Use a Mileage Tracking App
- Take the Unwanted Rides
- Know Where the Riders are in Your Surface area
- Refer Potential Passengers and Drivers to Lyft
- Keep Good Records
Maximizing the Customer Experience
- Continue Your Motorcar Super Clean
- Offer Passenger Extras
- Accept a Good Mental attitude
- Ask and Advertise for Ratings
Summary

Why Lyft is Appealing to Riders

So, what's the appeal of using Lyft every bit opposed to a local taxi service? Well, co-ordinate to recent studies, Lyft is significantly cheaper than typical taxi rates. Also, many riders find Lyft services more than personalized than a local taxi service.

From a driver'due south standpoint, qualifying to be a Lyft driver is pretty unproblematic and can often exist accomplished in less than 48 hours, whereas qualifying to be a taxi driver by and large involves a much more rigorous process.

That doesn't necessarily mean that riding with Lyft is riskier – the company has its own thorough safety standards in identify that protect both drivers and riders, such as DMV and groundwork checks, a driver and rider rating organisation and strict vehicle standards.

They also take a zero-tolerance policy for drivers when it comes to alcohol and drug utilise.

Driving with Lyft Tin can Be a Great Side Hustle

Every bit a driver for Lyft, there tin can exist serious money to be made. Rideshare adept Harry Campbell shares how he has made enough money in the ridesharing industry that he was able to quit his full fourth dimension task as an Aerospace Engineer.

However, driving with rideshare organizations such equally Lyft doesn't consequence in the same massive earnings for anybody that information technology does for Harry Campbell. Simply rideshare experts will tell you that there are things you can do to increase your earnings as a Lyft or other rideshare driver.

If y'all are thinking near driving with Lyft – or currently driving with Lyft – hither are some tips on how you tin maximize your Lyft income earnings.

Run a Smart Lyft Business organization

Successful businesses aren't just successful because they offer a practiced product or service. They accept to have something more: smart business owners. Here are some tips that will help you run a "smart" business equally a rideshare driver.

Drive During the Busiest Times

One of the benefits of being a rideshare driver is that you get to cull the days and hours you are bachelor for work. This means that yous can work your Lyft side hustle around your primary chore and effectually the residue of your life's obligations.

Yet, the people that make the almost coin driving with Lyft know that driving during the busiest hours means you'll accept the potential to make the most money.

What are Lyft's most potentially busy hours? Nights and weekends. Nights and weekends generally mean big coin for Lyft drivers because that'due south when people are going out and having their "fun" time.

Many rideshare passengers dearest the thought of beingness able to hit parties, entertainment venues such every bit concerts or the theatre, or existence able to meet with friends for drinks without having the responsibility of driving home.

Using rideshare services such as Lyft allows passengers to be able to become to social commitments without having to worry about driving, parking, etc., and if you're willing to work those busy social hours you'll increase your chances of earning more money.

Drive a Fuel-Efficient Vehicle

Apparently, the less money you spend on gas as a Lyft commuter, the more money that stays in your pocket. Driving a fuel-efficient vehicle volition help y'all be able to transport passengers for less.

It also helps to maximize fuel efficiency while you drive. Some people telephone call this hypermiling, only you don't have to go to that extreme. Following these simple rules will assist you maximize the fuel efficiency for your vehicle.

Go on your tires properly inflated
Drive moderately – don't excel quickly or brake quickly
Keep your vehicle well maintained and perform regular tune-ups and oil changes
Don't have extra, unnecessary weight in your car or body
Minimize air conditioning use when possible past parking in the shade or using a sun protector to keep your vehicle cooler inside
Know the quickest routes to destinations

Maximizing fuel efficiency will help you spend less money on gas – and information technology will assist your automobile last longer as well.

Know Where the Lowest Gas Prices Are

In my area, at that place is a certain Sam'due south Club that has gas prices that are often a proficient twenty cents lower than I'll find for gas prices anywhere else. That ways we'll ever fill up the tank when we're at this particular Sam'southward Society location.

By knowing where the cheapest gas prices are in your area, you tin can make sure yous aren't spending more than you need to for fuel.

It's of import to know too that it doesn't always make sense to drive out of the way to pay less for gas (unless the coin you save will make up for the gas spent to get there), simply if you know where the lowest prices are you can brand sure to fill up in that location when y'all're in the neighborhood.

Know too that gas prices often jump up correct earlier the holidays, so make sure you lot are filling up either well before the holidays or waiting until a few days after the holidays if possible in order to spend less on gas.

Use a Mileage Tracking App

If you lot put a mileage tracking app on your telephone, you can make sure you keep rail of all of the miles yous bulldoze with Lyft so that you can maximize your annual mileage deduction on your tax return. What are some of the more popular mileage tracking apps?

Stride Drive is a free mobile app that tin can help you rail mileage and other business organization expenses every bit well. It has pre-loaded categories so that you can hands input each expense.
Quickbooks Self-Employed app is a more comprehensive app that tracks all business expenses – and your mileage besides. The detailed analysis this app provides tin can aid brand tax filing easier as well. It costs $5 per calendar month, merely the first 30 days are free.
Mile IQ app is for tracking miles only, and information technology has a absurd, easy-to-utilise feature that allows yous to categorize each trip as either a personal trip or a professional trip. This app is free if you exercise less than xl trips per month, and it costs between $4.99 a calendar month and $five.99 a month for the upgraded plans.
Trip Log has both gratuitous mileage tracking plans and upgraded plans that come up with a monthly fee. The free program should work for people who merely want basic mileage tracking, simply even if you lot need to upgrade, the upgraded plans are pretty affordable, starting at $15 dollars per year.

Installing a mileage tracking app like the ones mentioned above will aid you keep better rails of the miles you drive as a Lyft commuter, and keeping better rails of your mileage will help you maximize your profit.

Bonus tip: get a dash mount for your phone to make tracking miles with your app easier.

Take the Unwanted Rides

There are certain types of rides that attract fewer rideshare drivers:

Early morn runs
Late evening partiers

The early morning time runs can consist of anything from a person wanting a ride to an drome to catch an early on morning flight to a person needing an early on ride home afterward a late night out.

Since many rideshare drivers desire to get their sleep, you may find more opportunities to make cash if you are willing to exist available for these early on morning runs.

The aforementioned goes with the late-night runs. People are often seeking rides home after 10 p.m. after their social gatherings have ended.

While many drivers are in bed sleeping to set up for the next mean solar day'due south piece of work, you lot can be making money by picking upwards these late-dark riders.

Know Where the Riders are in Your Area

Depending on where yous live, you'll accept a heavier concentration of riders in certain areas.

For instance, if you live in a higher town you may find a lot of riders on or near the college campus, since college-attending adults tend to use rideshare programs more often.

Besides, if you alive in an area where the political party scene is hopping, say in New York City, L.A. or Chicago, you might observe a heavy concentration of riders at areas where there are lots of clubs.

As another case, this article virtually driving with Uber features Ryan Begin, who lives in Arizona and hangs out with his car near local spas and resorts, where there are often clients needing rides to and from the local airport.

Lyft assigns clients to the driver who can go to the rider's destination the soonest.

Past knowing where the riders are in your area, you lot can help maximize availability by staying close by popular destinations where riders may need a quick ride dwelling house, and earn more money by beingness able to quickly go to clients in need of a ride.

Refer Potential Passengers and Drivers to Lyft

When you become a driver with Lyft, you'll be assigned a personalized code to your name. If you lot use that code to refer both potential drivers and potential riders to Lyft, Lyft will pay you a referral fee.

Lyft pays $10 for riders that you refer (as soon equally they take their first ride) and upward to $750 for each Lyft commuter you refer. You lot tin refer people to Lyft by handing out a specialized card that has your name and code on it.

Where can yous paw out the cards in society to maximize referral income? Get-go by sharing your card and code with friends and family members you think might do good from a Lyft riding experience.

Y'all tin can also hand your bill of fare out to those who may want or need some extra income and might similar to earn it by driving with Lyft in their spare time.

Another referral tip is to nourish local social events such as fairs or concerts and hand out your cards there. Social venues like bars or restaurants are another choice for handing out your Lyft referral cards.

Only share your carte du jour and the benefits of riding with or driving with Lyft with anyone you think might appreciate having access to fast and easy transportation, and every bit you lot share the benefits of Lyft with more than people, y'all volition increase your chances of earning more than money with Lyft.

Continue Adept Records

As a driver with Lyft, you'll be considered an independent contractor. In other words, if y'all drive with Lyft you'll be viewed every bit a business possessor. This ways that you will exist responsible for reporting all of your income and expenses on your tax return at taxation time.

The more detailed and organized you are about keeping runway of your income and expenses, the more efficiently you can fill up out your tax return in a way that produces the maximum turn a profit for yourself.

Using a mileage app like the ones mentioned above is a good way to brainstorm keeping thorough records, nevertheless keeping a ledger or spreadsheet of other expenses will help you have a more organized business relationship of your business organisation when tax time comes.

You can use a simple spreadsheet or ledger, or yous can use a more comprehensive app such as the Quickbooks Self-Employed app mentioned to a higher place. The easier you make it to record your income and expenses, the more complete your records will be.

Don't forget to include expenses such equally:

Extras like bottled h2o or processed that you provide to riders
Coin spent on vacuuming or washing your vehicle
Money for maintenance items such equally oil changes, tune-ups or tires
Money spent on whatever cards or business organisation related signs that yous pay for

Anything you spend that directly enhances, improves or benefits your riders can probable be deducted as a business expense on your tax return, which will maximize your profit in the long run.

Maximizing the Customer Experience

Another way to potentially maximize your income with Lyft is by making certain that the customers you give rides to accept a pleasant and comfortable riding experience.

Although riders can't asking a specific commuter with Lyft at this fourth dimension, riders practice have the ability to rate drivers, and they are also encouraged to tip their driver.

By making sure your passenger gets the most enjoyable Lyft experience, you increase your own chances of getting 5 star reviews and earning good tips. Here are some ideas that can assistance y'all increment customer satisfaction for your riders.

Go on Your Car Super Make clean

It's important as a successful Lyft commuter to be sure your motorcar is immaculately clean at all times. Consider these helpful hints for keeping your car clean.

Wash and vacuum out your car on a regular basis so that every client gets a fresh and clean ride. A hand held portable vacuum might exist something you want to go on in your trunk in social club to be sure you can vacuum out your car between clients if needed.

Effort to avoid eating in your vehicle if possible so that clients aren't greeted with the smell of your last meal. Many people are sensitive to certain smells and might non appreciate having to ride with the lingering scent of a gyro or super deluxe double cheeseburger. Bonus: not eating in your machine volition help cut downwards on your cleaning time.

Be conscientious almost using scented air fresheners. Because certain people tin exist bothered by potent scents, information technology's important to be cautious virtually having perfumed smells such as air fresheners in your car. If y'all exercise choose to have an air freshener, be certain it'due south a very mild olfactory property that won't overpower your riders.

Make sure your body is clean. Since y'all may be transporting riders to airports or other locations where they need to bring baggage or other items (such as a trip dwelling from the grocery shop), it's important to be sure your trunk is clean and in a condition that ensures riders will feel comfy storing their things there.

Have your windows open in between rides if the outside air is comfy. The more fresh air your motorcar gets, the better it volition olfactory property and experience for riders.

By ensuring your vehicle looks and smells clean and pleasant, you can improve your rider's chance of using Lyft again.

Many successful Lyft drivers earn great ratings and tips past providing rider "extras". Some extras aren't worth what they volition cost you as a driver, but other extras are well worth the money and volition enhance driver experience (and potentially your rating and tip). Some ideas for extras include:

Car phone chargers for both Android and Apple phones
Bottled water (become the smaller bottles to salve coin)
Inexpensive snacks such every bit gum or hard candies
Small garbage bags (a necessity if you are transporting bar patrons)
Tissues

It's the little things that ofttimes make a rider sit up and take notice of their Lyft experience. The thoughtfulness that is shown past having these types of little extras available will exist noticed past many of your riders, and will assistance ensure you get a good rating every bit a Lyft commuter.

That being said, information technology is equally important not to get overboard when considering what extras yous provide. For instance, while a few hard candies or a canteen of water is fine, y'all probably don't want to serve your client bootleg cookies or go overboard on extras.

Doing too much to enhance a rider's experience might make them uncomfortable and be viewed as an obvious effort to influence them.

Providing extras in a successful manner means that the provisions don't take a lot of time on your part, nor practise they price a lot of coin. Successful business owners know how to keep costs low while providing a great customer feel.

Take a Expert Attitude

Riders enjoy their Lyft feel more than when their driver has a pleasant and enjoyable attitude. Remember still that what's considered "pleasant and enjoyable" for 1 passenger might be annoying to another.

This is why it'southward extremely important to take cues from the customer as you bring them to their desired location. Kickoff with a smile and an introduction later yous pick them up. Tell the rider sincerely that you lot're glad to meet them.

Offer them a bottle of water and let them know about any extras you have in the motorcar such every bit processed or a phone charger.

Brand modest talk without asking any unprompted personal questions such as "Why are you going to the drome?" Don't talk about yourself unless the rider specifically asks you a question about yourself. After answering, plough the conversation's focus back on the rider.

Avoid grumbling and complaining and try to keep the conversation positive and upbeat. Besides, if you are sensing that a rider doesn't want to talk, respect that and keep serenity. Riders volition appreciate your respect and your focus on them as they ride.

Ask and Advertise for Ratings

Some Lyft drivers have signs that hang over the dorsum of the forepart seat that politely ask riders to charge per unit them a "5" if they've had a pleasant riding experience. They might too add a small line on the sign that reads something like "Tips not required simply greatly appreciated."

Exist sure to let riders know that you lot will be giving them a good rating too. Say something like "Thank you for being a great rider; I'll be sure to give you a "5" rating with Lyft."

Be sincere when doing this and be careful about implying that you'll give them a "5" if they requite yous a "five". Instead, practice it for the sake of benefiting your rider and hope they do the same in return.

Summary

Driving with Lyft has the potential to exist a great side hustle for those willing to put in the time and effort.

While there are no guarantees that your Lyft business will be successful, yous tin can maximize the income y'all brand with Lyft past post-obit the tips above and doing your best to promote yourself as a professional and pleasant Lyft driver.

Source: https://wellkeptwallet.com/how-to-make-money-driving-for-lyft/

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