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Business Idea to Explore: UBER

With more and more ride-sharing apps sprouting everywhere, the taxi business is getting more and more competition but it is not evolving in step with technology so to speak.

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I know it might be a little too late. I hope not.

The most discussed article on this site (as of this writing) is about How to Operate a Taxi Cab Business in the Philippines, so I presume most of our readers want a crack at the transportation business.

Admittedly, entry cost is quite pricey given the various steps needed, especially in securing a taxi franchise. And with more and more ride-sharing apps sprouting everywhere, the taxi business is getting more and more competition but it is not evolving in step with technology so to speak.

So it made me ask, why not Uber instead? 

Uber, according to those who have tried it (including me), is:

  • more convenient (assuming you know how to use the app),
  • safe (it is a cashless transaction, one uses a credit card to pay, it can be tracked using GPS),
  • vehicles are much newer (2007 or newer), and
  • the cost of riding is not that far off compared to taxi cabs (especially for shorter rides).

These are technically private cars that owners share with the public for a fee. Disclaimer, I haven’t attended the seminars yet, but personally, the biggest come on for would-be Uber Partner/Drivers like me is its ease of membership. Yes, there is still a need to get an LTFRB accreditation but offhand, it seems much easier and less costly compared to securing a taxi franchise.

How to be a driver-partner? From a website, here are the major steps:

  1. Create a profile with Uber (Online)
  2. Register Banking Details
  3. Enroll Driver and Vehicle Details
  4. Attend Orientation and Seminar
  5. Uber Device Releasing
  6. LTFRB Accreditation
  7. Drive and Earn

Recall that LTFRB previously tried to regulate Uber? Well now LTFRB and Uber are in good terms (so far), and again as far as I know, a franchise is not required. Not yet at least.

viya-viois

Here are some sites I’m exploring right now to get a better idea on how to join and get started:

Make Good Money with Flexible Hours. Drive When You Want With Uber. Start Now.

Some colleagues are also considering the Uber business but not in Manila, but in other developing cities like Cebu, Davao, Iloilo, etc. I guess it’s less congested in these areas compared to Manila.

What’s making me curious though is how the revenue sharing will be between the driver and Uber. Plus the other charges due to “partnership”. You see that’s where we will know if the Uber business is a viable business. That’s where we can create some cost-profitability analysis before joining this upcoming bandwagon. I guess we’ll find out during the Orientation and Seminar.

PS. Before Toyota Vios is labelled as a taxi car. Now I’m seeing lots of Uber cars using the Toyota Vios too. Not the white one though!

PSS. Want an idea where to get a car? Check out the banks’ repossessed cars. There are lots of 2007 or newer cars for sale at cheaper prices.

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About Geri (359 Articles)
Founder and main author. Husband, used-to-be-breadwinner, God-made multi-millionaire, employee, financial planner and adviser, investor, stocks trader, entrepreneur, agri-preneur, book author. Firm believer that all Pinoys deserve a richer life. Not a guru, but a forever student of the investments world, a work-in-progress.

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