One in four Uber drivers over 55

[Htown Harry]

ER.org posters seem to like Uber as customers.
http://www.early-retirement.org/foru...ber-78016.html

Any drivers out there? This article claims 25% of their drivers are over 55.
Why Retirees May Be the Future of the Sharing Economy - CityLab

Quote:

“You make your own hours, start when you want, stop when you want, and get breaks whenever you feel like,” says Paul Grossman, a 74-year-old

[target2019]

Not a driver, but did give this a thought or two. Recently used the services in Austin tx. Maybe one out of four drivers we used were over 55.

I am still wondering how this can be profitable for a less than full time driver.

[photoguy]

For $10/hour I can't see many on this board being interested in driving for Uber -- especially with the liability risk.

[ERD50]

Quote:

Originally Posted by photoguy For $10/hour I can't see many on this board being interested in driving for Uber -- especially with the liability risk.

The liability thing is my big question mark - not so much as a driver (I would not want to do this), but as a potential customer.

But I could picture this scenario for some of our posters - say you live in an area where people routinely need transportation between two cities (or any other destination points). Say you make the trip yourself once a week or so. Why not sign up and get a paying customer for that trip you were going to make anyhow? The $10/hour would really be almost pure profit. If you hang out your shingle (however that works) while you are attending to your business, you might pick up a return customer as well. You could probably undercut other drivers (I assume it's a kind of reverse auction?), as you really don't need to be concerned with profit margins.

I don't know if Uber requires a driver to put in X hours/week, or if there are fixed fees that make that impractical (the ads I've heard make it sound like it is totally flexible).


I like the concept, and maybe I'm fooling myself to think regular cab drivers are effectively screened, but Uber sounds too unregulated for me to feel safe getting in some almost random vehicle with some almost random driver.

Maybe the user feedback system they have really is more transparent and effective than current regulations? It's possible.

-ERD50

[marko]

Buddy of mine (age 64) just started driving for Uber. Sort of a "jobby" rather than making a living at it.

He keeps meticulous records and as of now he's running about $19.50 an hour, which includes driving back home 'empty' sometimes.

Drives when he wants, mostly "inbound" from an out of town errand. The only downside is the possibility that it won't be inbound' and you'll be taken further from home. You don't know where the fare is headed until they get into your car.

Uber seems to do a fairly complete background check, there's no minimum hours.

Seems like a good deal as long as you don't get into the game of picking up drunks at night etc. My buddy sticks to daylight, non-rush hour fares coming from decent neighborhoods.

[Big_Hitter]

My experience has been 1 in 4 are over 55.

[aaronc879]

I'm under 55 but only work part time and would definitely consider driving for Uber part time if they operated closer to where I live. The closet city with Uber is 40 miles away so probably not worth it. I expect it to expand to the city that's only 10 miles away and it may be worth it then.

[photoguy]

Quote:

Originally Posted by marko He keeps meticulous records and as of now he's running about $19.50 an hour, which includes driving back home 'empty' sometimes.

Do you know if this includes depreciation and insurance? The figures I've seen are from I was an undercover Uber driver :: Cover :: Philadelphia City Paper which reports around $20/hr gross but only $10/hour net. However the article doesn't go into a lot of detail about how the expenses are computed and of course some drivers will be better at getting surge fares than others.

[marko]

Quote:

Originally Posted by photoguy Do you know if this includes depreciation and insurance? The figures I've seen are from I was an undercover Uber driver :: Cover :: Philadelphia City Paper which reports around $20/hr gross but only $10/hour net. However the article doesn't go into a lot of detail about how the expenses are computed and of course some drivers will be better at getting surge fares than others.

Well, he's only doing this 3-4 hours a week.

I suspect he's only looking at hours in the car/$$. He's already paying for insurance anyway and Uber provides some sort of liability insurance...don't have the details.

[ERD50]

Quote:

Originally Posted by marko The only downside is the possibility that it won't be inbound' and you'll be taken further from home. You don't know where the fare is headed until they get into your car. ...

How does that work? I thought Uber drivers sort of competed (bid) for each fare. Don't they need to know the destination and source?

Maybe it doesn't work the way I'm thinking.

-ERD50

[rodi]

Our kids' piano teacher did this over the summer (she's over 55). She had enough students going away for the summer that she needed to supplement her income. The background checks and vehicle safety checks were pretty extensive. She has students all over the county - so she could UBER on her way back from lessons. She's stopped now that her college gig is back and students are all back from summer breaks.

[Bestwifeever]

I like taxi drivers but our need for them is pretty structured (go to taxi stand at airport or hotel and get in taxi). DD however lives downtown and she and her DH only use Uber, at minimum twice a week. She showed me the app and you can see exactly where the Ubers are and she knows exactly what time the car will be at her place vs the vague (always an hour or more) wait time a cab dispatcher gives her. Impressive.

I am thinking Uber is already investing in driverless technology (eta: http://www.cnbc.com/2014/05/28/uber-...s-are-not.html)

[target2019]

Even when uber gives you liability coverage you still are depreciating the life of the auto. I'd take that into account in some way.

[marko]

Quote:

Originally Posted by ERD50 How does that work? I thought Uber drivers sort of competed (bid) for each fare. Don't they need to know the destination and source? Maybe it doesn't work the way I'm thinking. -ERD50

Not from what I understand. Seems that you get a 'ping' on your phone/app that tells you a fare is waiting at a certain location. You have 15 seconds to accept or reject the fare; during that 15 seconds, whoever hits "accept" first gets the job. THEN once the person is in the car, you start the 'meter' (on your app) and you then find out where they're going. (or I guess you could ask them first...but by then you're sort of committed.)

[BLS53]

How does this business model work? Does Uber or whatever have franchisees in locations that the company desires to operate in, who in turn hire drivers? I gather one just can't become a contractor in some small population area. I've read articles on the companies, but still a bit unclear on the structure.

It seems this would be ideal in some rural areas that are challenged public transportation wise. All the articles I've read, seem to imply that the desired customer demographic is millennials with money in high cost of living areas, who for whatever reason, don't drive.

[marko]

Quote:

Originally Posted by BLS53 How does this business model work? Does Uber or whatever have franchisees in locations that the company desires to operate in, who in turn hire drivers? I gather one just can't become a contractor in some small population area. I've read articles on the companies, but still a bit unclear on the structure. It seems this would be ideal in some rural areas that are challenged public transportation wise. All the articles I've read, seem to imply that the desired customer demographic is millennials with money in high cost of living areas, who for whatever reason, don't drive.

I think it works like this:
A rider signs up with the site and downloads an app. You enter a credit card, address etc.
A driver signs up and after a credit check, insurance and registration review, becomes a driver and downloads an app to his phone.

A rider needs a ride and hits a button on the app which notifies ALL drivers within a few miles of the location of the rider (but not the destination...to avoid cherry picking i.e. airport rides)

The driver gets a ping on his phone showing the location; driver can accept or decline the fare but has 15 seconds to decide...or if someone else might take it...whichever comes first. Driver then activates the meter on the app and drives rider to destination.

For safety, both rider and driver have a photo of each other, first name and description of the car and plate that will be arriving

At the end of the ride, the driver stops the meter and the rider's credit card is charged.

Driver gets the fare MINUS 25% acknowledged on his app.

At the end of the week, driver sees his paycheck (all fares minus 25% in his checking account.

Surge pricing is an increase in fare when there are more riders than drivers.

You don't have to be in a big city...even small towns can do this but you'd have fewer opportunities/less riders.

[BLS53]

Quote:

Originally Posted by photoguy Do you know if this includes depreciation and insurance? The figures I've seen are from I was an undercover Uber driver :: Cover :: Philadelphia City Paper which reports around $20/hr gross but only $10/hour net. However the article doesn't go into a lot of detail about how the expenses are computed and of course some drivers will be better at getting surge fares than others.

That article makes it sound like, employment wise, a modern variation on delivering pizzas.

[marko]

Quote:

Originally Posted by target2019 Even when uber gives you liability coverage you still are depreciating the life of the auto. I'd take that into account in some way.

It seems to work best if you pick up a fare that's "going your way home", like if you were in another town doing an errand...you had to drive back home anyway.

[W2R]

Quote:

Originally Posted by Htown Harry This article claims 25% of their drivers are over 55.

Oh, lovely. It's not that I have any problem with older people; I love older people. Actually I *AM* an older person and I think we are super terrific people. But older drivers sometimes cannot still drive safely. I can tell that at age 67 my driving skills are rapidly deteriorating, and who is to say that the same isn't true for a random elderly Uber driver?

Not only that, but cabbies here are robbed and murdered by their customers all too frequently as it is. Older Uber drivers in New Orleans might as well paint a target on their foreheads, IMO.

What if the Uber driver dies of a heart attack at 55 mph while I'm in the car? Eeek.

While I do feel like people should do what they want, still the thought makes me cringe. I will be curious to see how all this pans out.

[ExFlyBoy5]

Quote:

Originally Posted by marko I think it works like this: A rider signs up with the site and downloads an app. You enter a credit card, address etc. A driver signs up and after a credit check, insurance and registration review, becomes a driver and downloads an app to his phone. A rider needs a ride and hits a button on the app which notifies ALL drivers within a few miles of the location of the rider (but not the destination...to avoid cherry picking i.e. airport rides) The driver gets a ping on his phone showing the location; driver can accept or decline the fare but has 15 seconds to decide...or if someone else might take it...whichever comes first. Driver then activates the meter on the app and drives rider to destination. For safety, both rider and driver have a photo of each other, first name and description of the car and plate that will be arriving At the end of the ride, the driver stops the meter and the rider's credit card is charged. Driver gets the fare MINUS 25% acknowledged on his app. At the end of the week, driver sees his paycheck (all fares minus 25% in his checking account. Surge pricing is an increase in fare when there are more riders than drivers. You don't have to be in a big city...even small towns can do this but you'd have fewer opportunities/less riders.

This is pretty close...except for a couple of things.

Pictures. You do get the picture of the driver, but NOT of the fare. When we signed up, there was no need to upload a picture.

Pay rate for drivers: I won't get into it, but the fare minus 25% isn't right. There is a base fee (usually $4.00) and then a mileage/time component (varies depending on the "normal Uber/UberXL/orUber Black Car"). During "surge pricing" (which can be VERY, VERY EXPENSIVE!!!) the driver doesn't make any more money than during normal periods.

We have started using Uber exclusively when we go places we are going to drink, and do our BEST to avoid situations that will result in surge pricing. As an example...we went to a beer fest downtown. The ride there was $26.00. When it was over, the ride back home was $77.00!!! Talk about supply and demand!!!

Anyway, if you are curious as to the amount that the drivers make, there is a website that will give you very specific numbers for your market. I can't remember the exact website, but will post it when I come across it.