1, March, 2024
HomeWorld70-Year-Old Uber Driver Earns $28,000 by Maximizing His Strategy

70-Year-Old Uber Driver Earns $28,000 by Maximizing His Strategy

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Meet Bill, a 70-year-old Uber driver from North Carolina who has taken a unique approach to his part-time gig, earning over $28,000 by strategically managing his rides. Bill’s method involves a calculated balance of ride acceptance, surge pricing, and choosing the right times and locations to drive.

Retiring six years ago, Bill turned to Uber to supplement his income, but he wasn’t interested in just any ride. In fact, he accepted less than 10% of ride requests, totaling around 1,500 trips in 2022. Bill’s approach is all about maximizing his earnings while working fewer hours.

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Bill explained that surge pricing in his area has decreased, leading him to reduce his driving hours from 40 to 30 per week. He stated, “I spend a lot of time saying no. I don’t work unless we have a surge.”

During the COVID-19 pandemic, Bill and other drivers could earn up to $50 per hour due to decreased competition and increased demand. However, with more drivers back on the road, he now averages $15 to $20 per hour.

Bill’s strategies involve positioning himself strategically during peak hours, primarily between 10:00 pm to 2:30 am on Fridays and Saturdays, near locations like airports and bars. This approach leverages surge pricing, allowing Bill to capitalize on the higher fares during peak demand times.

He explained, “When a plane lands and people request Ubers, the price jumps drastically. A 20-minute ride goes from $10 to $20 to $40 and sometimes $50. The driver gets just short of 50%, so a 35-minute ride can get you $30 to $60.”

Bill also avoids “one-way rides” that might leave him stranded far from potential customers. He recalled an instance when he had to drive a customer to a remote location, a two-hour drive from his city. Despite earning $27 for the trip, the return journey was empty, effectively making it a “free” ride.

However, Bill’s strategic approach is not without its risks. Uber discourages drivers from denying or canceling trips based on their destinations, which can result in account restrictions. Furthermore, drivers who cancel more than 10% of their trips may lose access to the company’s rewards program, which offers perks such as discounts at specific petrol stations.

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Despite these challenges, Bill intends to stick to his game plan, driving only when it proves to be financially beneficial. His independence from Uber for income allows him to enjoy the ride and make the most of his part-time gig. Bill summed it up by saying, “I drive to get out and don’t need the money. I love it.”

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