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Uber

Discussion in 'Living Room' started by Ed Barton, 8th Oct, 2015.

  1. Ed Barton

    Ed Barton Well-Known Member

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    I've often thought about buying cab plates and sending an army of drivers out - seemed like a sure bet. With Uber's arrival it seems like a sure way to burn money.

    Can I do the same with Uber? eg buy 6 cars and run them with Uber under some sort of profit sharing arrangement with the drivers?

    Bayview - who's going to service my cars? I'd imagine a full time Uber car will need a service every few weeks.
     
  2. Ace in the Hole

    Ace in the Hole Well-Known Member Premium Member

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    I know nothing about Uber, but are you allowed to run multiple accounts?

    Probably wouldn't be worthwhile with only 6 cars, need more.
    Insurance could be an issue, as well as maintenance/damage.
    Then servicing after that.
     
  3. House

    House Well-Known Member Premium Member

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    Doubt it would work as Uber drivers are independent contractors. Even if you did convince them to work for you, they'd have to pay the 20% commission plus whatever more you want so probably wouldn't be worth their while.
     
  4. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    Run a bunch of Airbnbs - More profit, possibly less of an issue and easier to manage (I think being a psuedotaxi company is too much risk for too little payback). You still need to pay drivers the wages etc.
    Airbnbing is fairly hassle free.
     
  5. Ed Barton

    Ed Barton Well-Known Member

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    No idea either, but you'd hope you could with their free market ethos.
    I don't think I'd have a problem extending to 30, but not sure it is necessary. Why would you need more than 6?
    NRMA(?) are now insuring Uber cars. Maintenance/damage is predictable and insurable - just like a cab.
    So? Servicing on a new, or near new car is pretty predictable. It would require a lot of servicing, just like a cab. It will require an 'oil change' type service every 10k(?), a battery every 90k(?), tyres every 65k(?) etc etc. If only Bayview was in Brisbane he could make a fortune out of my 30 Uber cars!
     
  6. Ed Barton

    Ed Barton Well-Known Member

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    It's a brain fart idea ATM.
     
  7. sanj

    sanj Well-Known Member

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    Thats a fair point but the capital expenditure is hugely different too. You could buy a 10k car and get it uber x registered, how much would rhe very cheapest apartment in sydney cost that would appeal to airbnb users?

    Re the OP i know this is done a bit overswas and i suspect it's more viable in countries like Malaysia where labour costs are very low and it's harder for some to afford to buy the car in the first place. Doesnt mean it's comoletely unviable, just probably harder
     
  8. Ed Barton

    Ed Barton Well-Known Member

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    I might do both as I expect my business to crumble soon - in fact I've been expecting it to fail for a few years now. I might take up fencing or sailing, but I do enjoy money making hobby's.

    AirBNBs require a lot lot more capital. There seems to be much more regulatory opposition to ABNBs than Uber.

    You don't necessarily have to pay wages etc. A contract model is what I'm thinking of.
     
  9. RPI

    RPI Property Lawyer, Town Planner Business Member

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    There were some guys in Brisbane running Uber that way. Issue is that you will only find drivers who can't come up with the cash for a car, otherwise not much point sharing the coin with you
     
  10. Scott No Mates

    Scott No Mates Well-Known Member

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    ;)

    Much more relaxing
     
  11. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    Interesting. So it's viable then?
     
  12. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    Now that's turning these "side gigs" into something resembling a business.... next idea will be running a fullon pub...
    :eek:
     
  13. Scott No Mates

    Scott No Mates Well-Known Member

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    Nemo and Gockie like this.
  14. D.T.

    D.T. Adelaide Property Manager Business Member

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    If we're talking automotive industry, I'd rather invest in a speed camera. Those things rake in the revenues.
     
  15. Truly Exotic

    Truly Exotic Well-Known Member

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    I wouldnt touch taxi plates with a 10 foot pole in todays market, not one ounce of upside espeically with uber joining

    in fact, ive thought about doing uber on weekends as a bit of a hobby and meeting people
     
  16. Casteller

    Casteller Well-Known Member

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    This might slowly change in a lot of countries as taxi organisations fight back.

    In Spain Uber is completely illegal now. By court order ISPs have been forced to block their websites and apps. Some other countries are following suit. Usually I cannot even see the Uber website, it´s blocked. Sometimes it comes back, then it gets blocked again.
     
  17. sanj

    sanj Well-Known Member

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    Canberra has just effectively legalised uber, albeit with conditions. WA govt has said they are in favour of uber.

    By and large it is in more cities and countries than before, even if the outliers like spain and germany block it.
     
  18. Azazel

    Azazel Well-Known Member

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    Some cabbies would be lucky to get $10/hr, especially on the day shift.
     
  19. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

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    I will probaly buy Sydney Taxi plates next year when I and if I take my redundancy.
    Is it a good investment ? No not now .doubt they will see Capital Gain for awhile.

    Sydney Taxi Plates were 425k in 2011 , today trading at around the 300k mark.
    But .. They the plates can be leased out same as a house, current market for Sydney is $475 to 520 a week.
    Or you can run your Taxi and have drivers, charge them a weekly or nightly rental for 12 hour shifts.
    I think day shift rental is about $120-150 .
    You can charge over $250 for Friday nights .
    Just bear in mind the more you charge in rental and have casual drivers the more your car(taxi) will be driven to its limits.

    As for Uber , i believe they pay their contractors or partners as they call them 80% of the fare which is most times 30% cheaper than a taxi fare.

    The NSW transport Dept suspended 40 vehicle registrations last week after doing a compliance operation.
    Uber seems ok for uni students, hiusewives etc, whether you will make much money from it is a guess.
    By the time you paid fuel etc not to mention wear and tear, would you make anything?

    Now you have to pay GST this will mean a lot if thise who were on the Dole or Disability Pension will now have to declare their income.
     
    Last edited: 10th Oct, 2015
  20. Greyghost

    Greyghost Well-Known Member

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    I understand "market disturber" business's like uber can help shake things up and drive beneficial competition in the marketplace, but I will pay the extra and avoid using them..

    Uber is owned by google etc, and these companies, like apple pay the lions share of their taxes overseas..

    So effectively taking away from our government.. The drivers are taxes on their incomes, but the guts of it goes overseas..
    I don't agree with that...