How do i start investing on Ola, uber and make money

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I have collect responses from few uber/ola drivers who currently working with ola/uber. I have posted few of the experience and earning stats below.

G Akshay ↓


I had good experience with both UBER over OLA on this Taxi Business, as the incentive plan and real-time profit looks ok to me.

Will try to provide detailed explanation of the business here:

-Incentives plan changes every day but almost remains same with little ups and down.

-5 trips 2000Rs business guarantee

-7 trips 2700Rs business guarantee

-10 trips 4000Rs business guarantee

-14 trips and above 6000Rs business guarantee (most likely the plans remains almost the same).

-The business guarantee includes fare + uber fee and tax.

-Uber fee and tax comes up to 25 % of the earned money.

-Consider if u make 14 trips you get 6000, uber will cut 25% which reduces the amount to 4500.

In 4500, you’ll pay driver around 400 and diesel or petrol 500 to 600. The profit will still be around 3500 to 3000 a day which makes a monthly income of 80,000 to 90,000.

Don’t forget this as you can miss free earning of minimum Rs. 8000.

The car should be not more than 5 years old, it should have AC and the car should be yellow board. List of required documents to attach your car are summed up blow:

– State or India permit (1500 ll be charged)

– yellow board conversion from a white board( 2000)

– yellow badge driver

– Insurance

– Tax receipt

– RC book

– Cancelled check

– Address proof for owner and driver

Hope this helps. : G Akshay

Also read :

Prashant Ganesh ↓

These are my earnings from 10th June to 10th July 2016

My car is Maruti WagonR CNG. My car operates in Mumbai.

According to the details above, my car was driven for 23 days during the period. My driver charges are 100 INR per ride. The fuel cost per day is between 500–600 INR.

So deducting the driver charges of 20,300 INR and fuel charges of 12,650 INR (avg 550 INR), my earnings comes around 42,920 INR.

Cheers!

Edit-

Detailed analysis goes like this-

The device usage charges ( Ola device + their 3G data) is 50 INR per day.

Total driver charges are – 20300

CNG chargers are – 23 X 550 – 12650

Device charges – 23 X 50 – 1150

Toll charges (monthly pass) – 1400

TDS (1% of ride earnings) – 425

TOTAL EARNING – 39945 INR

Also read :

Aditya Kothari

They don’t earn any fixed income, from them it’s like a business.
Ola charges Rs 14/km which the ola driver get completely.
Now what ola driver has to do is give some % of commission to ola and the final bill which ola generates.
Now if you pay in cash then the driver will have to pay ola within specific time and if you pay through debit/credit card then ola will deduct the commission and pay the remaining amount to the driver.
Not only ola but all similar companies work in the same manner.
So basically ola and others works on a commission basis by providing work to drivers.
And for driver it’s like a business.

Also some people who own cabs hire drivers and fixed monthly salary and run their taxis in the manner mentioned above.

I hope you got how it works, if any questions you may please ask.

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