Back on Uber this weekend

Discussion in 'Starting & Running a Business' started by Taku Ekanayake, 24th Jun, 2016.

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  1. Casteller

    Casteller Well-Known Member

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    They are trying a thing called UberX in Madrid where the drivers are licensed properly and there is a cap on the number of licenses, kind of a private chauffeur service, not like the normal Uber, still early days, not planned to expand at the moment. Not sure about cabify, some protests about it to ban it like Uber. Fines for Uber in Barcelona are 6000 Euros for the driver and 600 for the passenger.
     
  2. sanj

    sanj Well-Known Member Premium Member

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    wow big fines! cabify is an interesting one, they are growing quickly and now a $ 300m company so would be interesting to see effects of being banned where they started if it does actually happen.


    personally im a big fan of uber from a passenger pov and also have a fair bit of admiration for how a single company managed to have such a massive change in worldwide transportation and disruptive tech in general in such a short time. the fact that every other company is claiming to be the "uber of x" when launching their startup shows its influence.

    I also know 2 close personal friends who work at uber, one on a pretty senior level across multi countries and the stories I've heard of the kind of employee culture uber has created are great.

    I strongly disagree with their transfer pricing nonsense they do to avoid paying taxes fairly in overseas markets including australia though.
     
  3. Taku Ekanayake

    Taku Ekanayake Well-Known Member

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    My car is 2010 Mazda2 which cost me less than $15K when I bought it 5 yrs back. Regardless of uber or not I have to get car serviced every 6 months, so it's an expense that I already have. I'm already spending on insurance also. And as you said there is depreciation/tax refund too for my car maintenance expenses.

    @Peter_Tersteeg it's a good way for me to make a form of extra income which gives me the flexibility to work around my schedule.
     
  4. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    And now the car will require servicing every 2-3 months instead of every 6. You might need to replace the car in another 3 years instead of in 7.

    Does your existing insurance company cover Uber, not all do?

    I agree that the flexibility makes it very attractive.
     
  5. Ed Barton

    Ed Barton Well-Known Member

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    I agree that it's a good way to earn some extra dough.

    Your car will need replacing much faster if you're clocking up major k's and you may have to replace it sooner than otherwise due to Uber's 10-year-old rule. It will also need servicing more frequently. Aside from the 'grease and oil change' type service, stuff like tyres, brakes, timing belts, etc will need replacing more often.

    Having said that the capital cost of the car (or the depreciation) is not really that great for a cheap car. $15k over a life of say 200,000 k's is only 7.5c per k. So if you're doing 40kph as stated the car is costing you $3 ph in depreciation. Lots of people like to drive new cars, so wearing it out quicker could be seen as a plus.

    How does insurance work? I read NRMA(?) are the only ones that provide Uber cover - true? Is it a lot more expensive than standard insurance?
     
  6. Ed Barton

    Ed Barton Well-Known Member

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    You managed to say everything I did in far less words. Are you a copy writer?

    If I was wanting some extra cash then the flexibility would be very attractive. Work when I want and don't work when I don't want. No concern that saying no to my check out chick shift could result in repercussions.

    I believe Uber pricing works on a supply and demand system, so the fare is more in 'uber' peak periods. So for someone who doesn't mind working state of origin/xmass/new years etc they could earn more for the same work.
     
  7. peastman

    peastman Well-Known Member

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    Allianz do too, and actually a good price.
     
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  8. teetotal

    teetotal Well-Known Member

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    @Taku Ekanayake - Good stuff mate.
    Is it mostly spread around city precinct ? Do you get many jobs in outer suburbs?
     
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  9. dabbler

    dabbler Well-Known Member

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    I think it is a good way to put a car to use, not using it often is as bad as over using it.

    Go for it Taku, and if you give it up, I can make sure your car still get;s exercise for no charge :)
     
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  10. Taku Ekanayake

    Taku Ekanayake Well-Known Member

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    I drive mainly around inner west, east, north shore and city fringes.

    There is demand all around parramatta, upper north shore, northern beaches, and Cronulla area also.
     
  11. virgo

    virgo Well-Known Member

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    Tks Taku for such an interesting thread...

    i really like your go -getter attitude...! All the best !
     
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  12. Taku Ekanayake

    Taku Ekanayake Well-Known Member

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    Thanks for the msg @virgo :)
     
  13. MoneyMan

    MoneyMan Well-Known Member

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    I tried uber as a driver. Doing a full weeks work then driving Friday and sat late night early morning is a killer, almost literally.

    Might give it a go again if I move up the coast
     
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  14. Taku Ekanayake

    Taku Ekanayake Well-Known Member

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    Update over the weekend - Did 17.5 hrs over the weekend.
    Friday night: 12am - 5am
    Saturday: 4pm - 5am (1hr break)

    Made $709 (before tax). Spent $60-65 on fuel.
     
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  15. dabbler

    dabbler Well-Known Member

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    Did you see they are going to change green slip prices for taxis and Uber ? Taxis down, Uber will be up...

    Do you also have to hold GST and register and do BAS, that is what turned me off doing it casually here or there.
     
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  16. Vk8975

    Vk8975 Well-Known Member

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    :eek: You are doin some crazy hours man. More power to you for doing whatever it takes though. Good stuff.
     
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  17. Plucka

    Plucka Well-Known Member

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    Not bad, but to work out the true return you have to add in other costs like insurance, maintenance, rego, car loan interest if any etc.
     
  18. Plucka

    Plucka Well-Known Member

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    Don't forget the $36/hr was probably done during peak times, if it became a full time job I would imagine the average hourly rate would reduce a fair bit. Not to mention days off due to sickness, car out of action due repairs/maintenance etc, all unpaid hours.
     
  19. hash_investor

    hash_investor Well-Known Member

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    Yes, I would prefer doing an odd hour security guard work instead of Uber. Much easier to do than being on the road all night and dealing with people.

    But good on you Taku. Enjoy and do what it takes to get ahead. Taku The Man!
     
  20. Plucka

    Plucka Well-Known Member

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    Yep, when I did the numbers properly I found Uber is barely minimum wage or less. Better off just taking a casual job somewhere. But I guess one advantage is you can work the hours you want.
     

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