The rideshare boom has opened up some excellent opportunities for stay-at-home moms to make a bit of extra income. This is especially beneficial for moms in New York, a city that has a population of 8.6 million with 33 million tourists visiting annually. That is a lot of potential fares if you have a car and some time.
The main players are Uber and Lyft, both rideshare companies offering sign on bonuses with a focus on drivers 50 years of age and older. This is a compelling benefit for many moms who have sent their last child off to college and ready to get back to work doing something. Retirees are also joining in, since retirement savings are not going as far as they once did.
Supplemental income is great, but New York moms need to get a few facts about making that income as a rideshare driver prior to getting behind the wheel.
For example: “If a cab driver accumulates six or more points, but fewer than ten points within 15 months, the TLC will suspend their Taxicab license for 30 days,” according to New York traffic ticket attorney Michael Block. “If a driver accumulates 10 or more points on their license in a 15-month period the TLC will revoke their Taxicab license.”
There are a ton of other golden nuggets of information on rideshare below. Let the following serve as your quick guide to rideshare. Let’s dive in!
You need a clean driving record — and you need to keep it clean
Rideshare companies like Uber and Lyft are pretty serious about doing criminal background checks and driving record checks. For example, Uber does both checks once a year. For New York moms considering rideshare to make supplemental income, they need to meet these requirements:
- No felony convictions (non-violent crimes may be waived)
- License driver for one year
- No more than three traffic infractions in three years
- No DUIs or reckless driving infractions
- In three years no speeding infractions over 20 mph
Not too bad right? But keeping your record clean in New York is the hard part, since more time driving in the city equals more exposure to potential tickets and accidents. There’s also the New York Taxi and Limousine Commission’s (TLC) Critical Drivers Program, which can add on penalties for points earned against your license.
Make no mistake, it is indeed supplemental income for moms
Rideshare companies pitch a pretty good sell when trying to entice people into becoming drivers. You may have seen the job ads, “Make $1500 your first week” and so on. While making $1500 in a week is not unheard of for rideshare drivers, it isn’t always the norm.
You will most likely not be making full-time wages driving. Uber drivers in New York can make an average of $30 per hour, according to a study. However, that means you need to make a lot of trips and own or rent your own vehicle. Approach it with a passive income mindset and you will not be let down when you get your first paycheck.
There is a bit of strategy to peak hours and when to be on the road
Like any job, you want to maximize your profits with the least amount of time and effort. This is especially true when it comes to New York rideshare. You can’t just hop in your car at the same times each day without doing a bit of research of this side job. There are actually peak hours in New York when it is best to be on the road.
For example, Friday and Saturday evenings between the hours of 8pm to around 3am could serve up more money than driving 9-to-5 on those days. This is because people are out and about during those peak hours, which means you need to be too. Think about peak hours, take a few Uber or Lyft rides and talk to the drivers to get a good idea of when you should be driving for maximum fares.
You need to be a people person in some ways
One of the aspects about rideshare not many people think about before getting behind the wheel is being a people person. This is kind of important since you will be interacting with people for multiple hours per week. If you are a bit of an introvert, you will need to come out of your shell a bit. If you generally do not like people, you may want to skip rideshare and find another way to generate passive income as a New York mom.
In Conclusion . . .
There are definitely benefits to becoming a rideshare driver, especially in New York. However, before hitting the road, it is important to have all the facts in hand. From knowing that this is indeed only passive income to being a bit of a people person, if you think it sounds like something you would like, give it a go. Are you a mom making side money as a rideshare driver? Tell us your favorite part of the job.