It occurs to me that the individual administrative costs to UBER of on-boarding a driver is minimal. It is basically done exclusively via email. Sure, you have some administrative staff, office rental & related expenses, lawyers, IT geeks and marketing types. However, the more drivers that are "on-boarded", the cheaper the cost to UBER on an incremental per driver basis. Therefore, the more drivers that are on-boarded...the cheaper the associated costs are for UBER per driver. Even the background checks are bulk-rate contracts. As far as "HARD" costs per driver goes, there is only the cost of the phone, which is passed on to the driver (I will bet that Uber is actually making money on the phone as well, on a per unit bulk cost basis). Insurance is no longer a serious cost factor because of the $1 "safe rider" fee, which is a pass-through revenue source (per ride) to UBER.
All that said, it is in UBER's interest to hire as many drivers as possible....1 on every street corner, if possible. THINK ABOUT IT.....driver over-saturation BENEFITS UBER's top-line revenue growth (without adding any significant associate -per driver- expense). Driver over-saturation ALSO BENEFITS the RIDER for obvious reasons. Driver income plays NO PART in this equation and is IN FACT, the expendable component in UBER's "end game".
Soon, there will come a point where so many individuals will have either an UBER phone or a driver app installed on their own phone, that the UBER concept really WILL be a ride share. Anyone headed to the local mall to go shopping will simply turn on their app to see if they can "get a ping" to "share the gas cost.
The days are fast approaching where UBER will no longer be marketed as a full-time/part-time way to make "$40hr or $1500wk"....but as a convenient method to defray travel expenses.
So....go ahead....by a car for your full-time $70,000 a year UBER driver gig. Better yet.....lease one through UBER's accomplice (sorry) "partner" Santander.
It does not take an MBA to see that more drivers ='s more net profit for Uber. As a matter of fact, Uber OWES IT to their future shareholders to aggressively push hard to increase the driver pool in ALL markets.
All that said, it is in UBER's interest to hire as many drivers as possible....1 on every street corner, if possible. THINK ABOUT IT.....driver over-saturation BENEFITS UBER's top-line revenue growth (without adding any significant associate -per driver- expense). Driver over-saturation ALSO BENEFITS the RIDER for obvious reasons. Driver income plays NO PART in this equation and is IN FACT, the expendable component in UBER's "end game".
Soon, there will come a point where so many individuals will have either an UBER phone or a driver app installed on their own phone, that the UBER concept really WILL be a ride share. Anyone headed to the local mall to go shopping will simply turn on their app to see if they can "get a ping" to "share the gas cost.
The days are fast approaching where UBER will no longer be marketed as a full-time/part-time way to make "$40hr or $1500wk"....but as a convenient method to defray travel expenses.
So....go ahead....by a car for your full-time $70,000 a year UBER driver gig. Better yet.....lease one through UBER's accomplice (sorry) "partner" Santander.
It does not take an MBA to see that more drivers ='s more net profit for Uber. As a matter of fact, Uber OWES IT to their future shareholders to aggressively push hard to increase the driver pool in ALL markets.