Making Money The Millennial Way: Lyft

1200px-Lyft_logo.svg

As I discussed previously, I’ve been doing Uber now for about 9 weeks. I’m super familiar with the app and its pros and cons, and I’ve had moderate success with making money with it.

What about its closest competitor, Lyft?

I was going to write a diatribe against it, because my first night with it was horrible, but after a few more nights I’ve moderated my view.

What it is:

Lyft is just like Uber, it’s a rideshare app that allows you to pick up and drop off passengers and make money doing it.

Getting Started:

Like Uber, Lyft has a long list of requirements for vehicle age and such, and these vary from place to place.

You will need a smart phone, obviously, and the app downloaded to said smartphone.

You will also need pictures of proof of insurance, registration, and your driver’s license. Lyft will conduct a background check, which can take 24 hours to a few days, and will let you know when you can start driving.

General Experience:

First impression: eek. The app feels like a knockoff brand of Uber, not quite generic, but different enough that it makes you uneasy. Like Tab. Lyft is the Tab of ridesharing.

The process for signup is a bit more tedious than Uber, but still not difficult. What made me cringe at first was the clunkiness of the app. There’s no other way to describe it, the app is just more clunky feeling than Uber. Everything is a tap, not a swipe, which can be tricky for accident prone folks like me.

Picking up passengers is an especially clunky process compared to Uber. Instead of automatically alerting the passenger that you have arrived and starting a timer like Uber does, you have to manually tell them you have arrived (two taps, one to say you’ve arrived, another to confirm it, like you messed up the first time). This is a bit of a distraction, especially if the area was crowded with people or cars.

Screenshot_2017-11-08-22-16-01
Tap to arrive, then tap again to confirm you’ve really arrived.

 

Unlike Uber’s two minutes, Lyft gives passengers five minutes to get to you. According to the countdown timer you do get paid for the wait. I have not found out if it cancels after the five minutes. Five minutes is an eternity when picking people up, especially in busy areas.

After picking up the passenger the app works exactly the same as Uber. Person gets in, you confirm the start of the trip, navigate to location, drop off person, end trip, rate passenger, get paid, everyone’s happy. This I liked. They will even find you the next passenger before you drop off your current one and add them to your navigation, just like Uber does, but unlike Uber, you don’t have to accept them, it’s all automatic.

One of the biggest things I noticed about Lyft: they love to send you text messages. When I first turned on the app, it sent me a text message telling me I was online, like I needed that. When someone canceled (more on that in a bit) Lyft would send you a text message. When you sign into Destination Mode, Lyft would send you a text message. It seemed like every few minutes I was getting another distracting text message telling me something the app could have easily told me itself.

How Much Money Are We Talking Here?

The Lyft rates can be a bit confusing. There is no breakdown in the app of per mile or per minute rates. Passengers can see how much they pay here, but I can’t personally find how this translates to drivers. I know for a fact I am not getting $4.25 as my minimum fare.

Lyft Rates

The only night I exclusively did Lyft was so filled with cancellations that it is impossible to tell you a good night from a bad. From what I can tell though, when the app runs smoothly the amount you make is comparable to Uber.

Screenshot_2017-11-08-23-36-23
And I got a text message for every one of those….

The rates are not spelled out as clearly on the trip pages. You just get a breakdown of “Ride Payments” and “Lyft Fees” and while it does spell out time and distance, who wants to do the algebra required to figure out exactly what each mile and minute pay?

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5.92X+18.4166Y=6.82 is too much math!

General Tips:

These are all pretty much the same as the Uber tips. Don’t drive around, watch your gas, and chat up your passengers.

I do think it may be good to chase “Power Zones” in Lyft. From what I can tell, they aren’t calculated the same way as Uber’s “surges” and don’t go away just because more drivers go into them.

Be prepared to turn around a lot. It seems Lyft likes to pair you up with a passenger, then pair you up with a different passenger once it determines someone else is closer to the original passenger. This may mean turning around at the next exit or making a quick u-turn on a residential street.

Be prepared to go the long haul. Uber on average sends me 4 miles to a passenger. Lyft has sent me 20 miles once, and 8-10 quite frequently. Sometimes these people are only going 2 miles down the road and for 10 miles of driving I only make $3.19. This may seem like a lot, but with my gas guzzler I end up only keeping 1.48 of that after gas. Depending on lights that trip could take 20 minutes total, giving me only $4.44/hr.

Bottom Line:

I hate to make this a comparison blog, but I honestly like Uber better. The only way to make Lyft better is to do both at the same time, which is what I will talk about in my next installment.

But. Still. Go get the app, go through the process, and start driving it as a filler when Uber is slow.

And again, hit me up for a referral code @ driptorchstudio@gmail.com or on my FB Page.

 

Author: driptorchpress

Hey, my name is Jon. I'm a married father of five crazy kids. I write about family and marriage, politics, music, art, and pretty much anything else I want to. I hope you enjoy my page as much as I enjoy writing on it. If you like what you read, be sure to "Like" and share my Facebook Page for more good stuff. https://www.facebook.com/DripTorchPress/

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