March 2019 – Rideshare Central

Uber Buys Careem, Lyft Prepares for IPO And Launches Driver Services

March 29, 2019/in Blog/by Sharon

This Week In On Demand― March 28, 2019: Lyft IPO Edition

This week, Uber confirms it is buying Careem, Lyft makes headlines with new driver services in advance of today’s IPO, and a new Chinese ridesharing service may give Didi Chuxing a run for its money.

Lyft Unveils New Driver Services Program

In the wake of its upcoming IPO, Lyft unveiled a new Driver Service program that offers services ranging from fee-free bank accounts to discounts on car maintenance.

The Lyft Direct online bank account gives drivers access to their money immediately after rides are complete, no fees, and cash back on everyday purchases including 2% on gas and 1% on groceries.

Lyft opened its first Driver Service Center on Wednesday in San Francisco. The service center promises drivers will save up to 50% on car repairs and have repairs completed twice as fast as comparable shops. The company also expanded its Express Drive program, where drivers can rent vehicles at a discount.

While these services are attractive to potential Lyft drivers, current drivers of the ride-hailing service are frustrated with the recent reduction in pay.

Uber Announces Purchase of Careem

Ride-sharing giant Uber confirmed Wednesday that it is buying its largest middle-eastern competitor Careem for $3.1 billion. The sale is expected close in Q1 2020.

This is a particularly important win for Uber, as the company is preparing for an April IPO. Experts have been doubtful about Uber’s ability to scale globally. The company came under heavy fire after selling operations in China, Russia, and Southeast Asia.

Careem will become a wholly-owned subsidiary of Uber, and Careem’s three co-founders will continue to run the service after the acquisition.

Even though this is a big win for Uber, it may not be enough to win the hearts of cautious investors. The company still has stiff competition in important global markets like India and Latin America.

New Chinese Ride Sharing Service T3 Set to Topple Didi Chuxing

The Chinese ridesharing market is the largest in the world, estimated to be worth about $23 billion. Didi Chuxing is China’s largest rideshare provider, raking in 90% of market share. Even Uber couldn’t get a foothold in the country.

But a new service is challenging Didi’s position. T3 is the brainchild of a dozen groups, including automakers like BMW and tech powerhouse Alibaba. The group raised about $1.45 billion to invest in carsharing services running on renewable energy.

Will this new ridesharing service be able to compete? With significant backing from a number of investors with deep pockets and automakers at the helm, probably so.

Lyft Trading Begins Today After Weeklong Roadshow Courting Investors

After months of anticipation, Lyft stock begins trading today at an IPO price of $72 per share. The company has been on the road for the past week, wooing potential investors and moving meetings to avoid driver protests.

On Monday, the roadshow scheduled to meet at the Omni Hotel in San Francisco was moved to The Olympic Club instead. Drivers frustrated with recent rate cuts came out in the rain and protested the IPO, unaware the meeting had been moved because “the space wasn’t big enough.”

Investors don’t seem to be too impressed with Lyft’s message of reaching 20% margins. Some in attendance at this week’s roadshows told media outlets Lyft has no timeline on when it will hit its goals.

Just like Uber, which is also making big moves in advance of its April IPO, Lyft is losing money. Last year’s losses totaled $911 million on $2.1 billion in revenue. With numbers like that, Lyft’s IPO may turn out to be as disappointing as Facebook.

Oak Street Health Partners With Lyft to Provide Healthcare Transportation Services

While Uber seems to snag up partnerships with transit authorities, Lyft is looking to healthcare. Earlier this week it announced an expansion of its partnership with Indianapolis-based primary care provider Oak Street Health to provide rides for Medicare patients. The pilot program began last year and has met with positive feedback.

According to Health Leaders Media, Lyft has already shared its plans to grow its business through its existing relationships with hospitals and other healthcare transportation providers.

This is a good move for Lyft and may help it ease the fears of investors who are skeptical about how Lyft is going to increase market share and make good on the 20% margins it claims it can achieve.

Lime Pulling Bike Sharing Programs Out of Several Cities

E-mobility company Lime pulled bike sharing programs out of several cities, including Green Bay, WI; Wake Forest and Durham, NC; Hartford, CO; and several other smaller markets.

The company states it is focusing more on its electric scooter market. Given that more cities are tightening regulations on electric scooters or banning them altogether, companies like Lime may be out of business before they even got started.

Credit Karma Tax Review – Free Tax Filing Software

March 28, 2019/in Blog, Taxes/by Brandon

Heard of Credit Karma Tax? It’s Credit Karma’s free tax return software.

Their tax filing software may be a great option if you’re working for Uber, Doordash, Etsy, or another service, and you don’t want to pay $50 to $200 or more to file your taxes this year. Credit Karma launched their free tax software in 2016, but have improved it to the point that it now makes sense for most tax filing situations.

It currently offers most of the features of the big tax filing software players like Turbotax and H&R block, but with the added benefit of being free.

(Disclosure – We independently research our content to provide free advice for you. We may get compensation if you sign up with services, or purchase products through our affiliate links.)

What is Credit Karma Tax?

As noted above, it is the free tax filing software from Credit Karma, the free credit monitoring service with over 85 million users.

Credit Karma was founded in 2007 as a service providing free credit scores. In 2014, the company began offering full free credit reports to members as well, and is now the leading consumer credit monitoring service in the U.S.

While there are a number of free tax filing options out there, most of them are missing a lot of features, or aren’t totally free. Some will file your federal taxes for free, but charge you to file your state return. Other free tax filing options don’t work if you need to file a Schedule C or E form, a necessity for many Lyft, Uber, and Doordash drivers.

Is Credit Karma Tax free?

Yes, it is a totally free tax filing service. The service doesn’t even charge for filing a state tax return, audit defense, or having a small business.

The service also provides support for multi-member LLCs, S corporations, C corporations, partnerships, estates, and trusts!

Key Features

Free Audit Defense: Credit Karma Tax users will receive free audit defense. This service provides correspondence management and in-person representation in the event that a member gets audited by the IRS or the state. They are the only major tax filing software to offer audit defense for free.
Mobile Filing: Users can file their taxes, from start to finish, directly from their smartphone with every step now mobile enabled.
Easy Migration From TurboTax, TaxAct or H&R Block: New users can jumpstart their tax filing process by easily importing their prior year’s information
Error double-check: Before a member submits their tax return, Credit Karma Tax will check and re-check the return to let them know if anything looks off.
Personalized guidance: Once a member inputs their tax data, the app gives personalized guidance to help members maximize their refund, including helping them understand the impact of taking standard or itemized deduction and their filing status.

How Does Credit Karma Tax Make Money?

The software doesn’t actually make any money. In order to use it, you do need to join Credit Karma, a free credit monitoring service (disclosure: I’ve been using it for years). It’s been around since 2007, and helps you monitor your Transunion and Experian credit reports for free.

Credit Karma makes money by presenting loan and credit card offers to its users. When people sign up, Credit Karma gets some money from the loan or credit card company.

However, no advertising offers appear on the tax side of the software.

Pros And Cons Of Credit Karma Tax

Pros

Free Federal & State Filing
Free Audit Defense
Supports most tax situations including joint filing, and self employed schedule C filing.
Includes 1040 schedule C, 1040 schedule E, and 1040 schedule SE (self employment)

Cons – Does not support certain situations like:

Multi state tax return filings
Part-year state filing
Foreign earned income
State returns for married filing separately in community property states. Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, Wisconsin are community property states.
State filing only

Credit Karma Tax also has weaker help and support options when compared with TurboTax and H&R Block.

Credit Karma Tax – Getting Started Walkthrough

Getting started is pretty easy. First, sign up for Credit Karma (it’s free) by clicking the button below.

Join Credit Karma

Once you’ve joined, you can start your tax return on their website or in the Credit Karma app.

1. To get started in the app, from the main dashboard, click on “Tax”.

2. This will bring you to the tax section of the app, which is free and has no ads. Click “continue”.

3.. The next step is to verify your phone number.

4. After that, you simply fill some info about yourself, and you can begin importing information and completing your Federal & State return. You can complete the entire process on the app, and since the software is free, you won’t even have to pull out your credit card.

How Does Credit Karma Tax compare to TurboTax and H&R Block?

Overall, it compares pretty well. While Turbotax does offer a free option, it only applies if your income is under $34,000, and their free option does not include Audit Defense.

H&R Block also has a free option, , but it does not support Schedule C forms, which most people who work for services like Postmates and Uber will need to fill out.

The only place Turbotax and H&R Block still have a major advantage is if your business or financial situation is really complicated.

If you own multiple businesses, or plan on filing multiple state returns, one of the paid offerings from Turbotax or H&R Block may be a better option. These options also come with superior customer support, with phone or chat options available.

Credit Karma Tax – Final Take

If you’re a gig economy worker for a service like Handy, Lyft, Care.com, or one of the other on demand services out there, Credit Karma Tax may be the free tax filing software you’ve been looking for.

It allows easy import from popular tax software, has most small business forms available, and is truly free in more tax situations than competing services.

To get started filing your Federal and State taxes for free, with Audit Defense included, simply click the button below.

Credit Karma Tax

Should You Buy Lyft’s Stock When They IPO?

March 26, 2019/in Blog/by Sharon

One bullish analyst from a top Wall Street firm gave Lyft, Inc. its first buy rating last week, with shares set to start trading on March 29.

The No. 2 player in the ride-sharing market — second to Uber — “has made impressive market share gains within the U.S. as demand for ride-sharing continues to grow,” analyst Tom White of D.A. Davidson wrote in a note about Lyft’s prospects, as reported by Bloomberg News. “The continued population migration to cities and the rising costs of personal car ownership will further drive adoption of ‘Transportation as a Service’ models over the coming years.”

With a valuation of $23 billion and a reported increase in market share growth from 22 percent to 39 percent during the past two years, the San Francisco-based company has many eager investors clamoring to buy its shares when it debuts on the stock exchange March 29 (trading as NASDAQ: LYFT).

Others are more hesitant to make a move on Lyft, citing deep losses, increasing competition, and limited shareholder voting rights as three main concerns, according to The Motley Fool. The company itself has described the 30.77 million shares it will make available through its initial public offering as oversubscribed.

Given these mixed reactions and Lyft’s own assessment, should you buy Lyft stock when they IPO?

It appears that many investors are willing to turn a blind eye to uncertainty with regard to Lyft’s profitability outlook and its future strategy for self-driving cars in order to take part in the first and the biggest, most high-profile tech IPO in 2019 (rival Uber is planning to kick off its initial public offering in April). If you consider yourself this type of investor, then Lyft may bring a mighty reward — or a major loss.

For the more measured, financially-conservative types unmoved by buzz, hype, and anticipation, there are several factors to consider before investing in Lyft.

Valuation

In its updated U.S. Securities and Exchange Commission filing, Lyft priced its 30.77 million shares between $62 and $68 per share, which, the company estimates, will bring in around $2 billion in cash that will be used for working capital and general corporate purposes. Based on these numbers, Lyft’s IPO would give the company a $23 billion valuation.

At an expected $65 price per share, Lyft is valued at about 5.4 times enterprise value to sales, which White considers “reasonable given Lyft’s growth profile.” Given the popularity of ride-sharing, growing market demand, and the buzz surrounding Lyft’s IPO, the analyst believes Lyft’s target share price should be $10 higher than the IPO’s midpoint average and set his buy recommendation at $75 per share — a 15 percent premium over the IPO’s pricing range. White’s share valuation is based on a 6.4 times 2019 enterprise value to sales multiple, according to Yahoo! Finance.

White’s share valuation may be on point given that many initial public offerings typically price shares at a 10 to 15 percent discount to the company’s valuation. Lyft’s share price is expected to be finalized on March 28, according to The New York Times— one day before trading begins.

A higher share price could mean higher rewards in the long run … or maybe not. According to venture capitalist Alan Patricof, an early big tech investor, the initial stock price of an IPO is usually driven by excitement and takes a while to settle.

“It’s a confusing time,” said Patricof, the co-founder and managing director of Greycroft LLC, in an interview with CNN.

Potential Risks

Lyft has admitted that it may never become a profitable company. In mandatory disclosures filed with the SEC during the IPO process, the ride-sharing company reported a net loss of $911.3 million last year on revenue totaling $2.2 billion, according to The Washington Post.

“We have a history of net losses and we may not be able to achieve or maintain profitability in the future,” Lyft disclosed in its SEC filing, also admitting that its limited operating history and evolving business “makes it difficult to evaluate our future prospects.”

Lyft’s $911.3 million loss in 2018, Yahoo! Finance reports, “was much steeper than its 2016 and 2017 losses, which had been $682.8 and $688.3 million, respectively.”

In his recommendation, White noted, “Lyft has a more focused geographical footprint and product portfolio than its largest competitor, but Lyft appears to be several years away from profitability.”

In addition to an uncertain future with regard to profitability, Lyft could also be upended by emerging competition. Aside from rival Uber, Lyft competes against less popular services, like Gett/Juno and Via as well as traditional taxicabs. In its IPO filing, the company noted that growing demand for shared scooters and bikes also poses a threat to the overall industry, though, not necessarily to Lyft. Lyft shielded itself against this threat by pouring millions into the acquisition of Motivate, which made Lyft the country’s biggest scooter and bike share operator in a deal that was valued at around $250 million, according to The Washington Post.

Among 70 potential downsides Lyft outlined for investors in its IPO filing with regard to its operation and the ride-sharing industry, the company also listed its heavy reliance on independent contractors working as drivers, uncertainty over the popularity of self-driving cars, and potential regulation over the concern of increasingly crowded streets and curb space as additional risks that it — as well as the ride-sharing industry — faces. A court ruling, for example, could force Lyft and Uber to classify their drivers as employees rather than independent contractors, bringing with it additional costs.

Another cause for potential risk — if not also a concern — is the limited voting rights shareholders will have. Lyft’s co-founders Logan Green and John Zimmer will retain control of the company “thanks to their ownership of a special class of shares that gives them 20 times the voting power of regular shareholders, despite each of them owning less than 3 percent of the company,” according to The New York Times.

A coalition of institutional investors questioned the arrangement, saying it “imposes a significant gap between those who exercise control over the company, and those who have economic exposure to the consequences of that control.”

Lyft cofounders Logan Green & John Zimmer

Possible Rewards

In its IPO filing, Lyft disclosed that both its revenue and market share had jumped substantially on account of Uber’s disastrous public relations efforts, which led to the departure of Uber founder and CEO Travis Kalanick. Uber’s setback catapulted Lyft’s market share to 39 percent in December 2018, nearly double what it was two years earlier. Lyft’s revenues increased nearly sevenfold, jumping from $343 million in 2016 to 2.2 billion in 2018.

Despite its strong numbers, Lyft can’t bank its future success on Uber’s shortcomings. Instead, the company has turned to the industry itself, highlighting in its IPO filing how it stands to benefit from continued growth of the on-demand car and driver business model. Like Uber, Lyft is betting on a driverless future, investing millions into research and development for self-driving cars, which could be less costly than splitting fares with drivers. While other tech giants, like Alphabet’s Waymo, are trying to capitalize on this trend, too, Lyft — like Uber — can claim an advantage.

The Bottom Line

U.S. consumers are spending roughly $1.2 trillion every year on personal transportation and the potential for continued growth remains. According to The Washington Post, U.S. market opportunity for ride-sharing companies could reach $105 billion by 2029, or “about four times the size of the historical domestic taxi and limousine market.”

Some analysts have cautioned against reading too much into the risks because there are too many assumptions about Lyft and about the ride-sharing industry to quantify.

Given all of the uncertainties and all of the hype surrounding Lyft’s IPO, the opening bell March 29 might ring in Lyft’s stock price at $75 just as White predicted. Those looking to turn a quick profit off of Lyft shares likely won’t. Those who can tolerate risk and are willing to stick with Lyft for the long haul, riding out market volatility, likely will.

For now, though, the risks seem to outweigh the rewards with Lyft. Whether you decide to go all in on its IPO shares or remain sidelined, at the very least, experts say Lyft’s public offering will test just how much Wall Street values the ride-sharing business model.

Top 10 Side Gig Apps and Sites for Freelancers

March 25, 2019/in Blog/by Hannah

If you’re looking for a steady side gig and you have specialized skills to share, becoming a freelancer is a great opportunity to make some extra cash on your own terms. Whether you’re freelancing full-time or just to make some money to supplement your income, there’s a good chance you’ll spend a significant amount of time looking for new projects and clients. Below, we’ve put together our list of the top 10 side gig apps and sites for freelancers.

1. Upwork

With over 12 million freelancers and 5 million clients listing around 3 million freelance writing, design, and development jobs each year, Upwork has become one of the most popular platforms for freelancers to find work. Companies post job details, and freelancers can apply to the job with some details about how their background and experience is well-suited for the project. Then, the company chooses which freelancer they want to work with. Upwork does take 20% of the project fee, but this is a great platform for those who are new to freelancing and trying to build up their clientele.

2. Fiverr

Fiverr gets its name from the company’s premise that every freelance job starts at just $5. Though this may seem like a low price to charge for freelance work, you are able to set up tiers above the base $5 option to charge appropriately for different services. You decide which gigs you want to create (or services you want to offer) and then you post them to your profile. When clients want the service, they can pay you to deliver. It’s free to sign up, but Fiverr takes 20% of each transaction, so you’ll want to keep that in mind when pricing services.

3. FlexJobs

FlexJobs is the go-to site for not only freelancers but also for those who are looking for other remote opportunities and flexible side gigs. This platform makes it easier for freelancers and flex workers to find worthwhile opportunities, as the FlexJob team works to filter out scams and other junk opportunities so users are only looking at real quality job opportunities. Though you can browse opportunities on the site for free, if you want access to the full freelance job postings, you will need to become a paid member.

4. 99 Designs

99 Designs is a popular site for freelance designers that works a little differently than the standard freelance site. Clients will publish contests on the platform, and designers will submit their work. The client will then choose the design they like best and pay the designer for their work. The downside to this site is that if you don’t win, you won’t get paid for your design work. However, this can be a great way for new freelancers to build up their portfolios and earn money based on their talent and skill rather than years of experience.

5. Gigster

Gigster is a site focused on freelancers with tech expertise. Freelance software designers, web designers, and app developers can find projects as the site’s AI matches freelancers with projects based on their experience and skillset. It’s important to note that this is not a site for newbies. But experienced tech developers can find interesting web development, artificial intelligence, mobile development, and product design projects from a wide variety of companies.

6. Freelancer

Freelancer.com brings together freelance writing and design professionals and companies who have projects they need to hire for. This site has a wide variety of project types with some offering an hourly rate and others designed as contests. What’s the catch? You only get 8 free applications before you have to pay a membership fee. Once you start taking on freelance projects, the commission fee is between $3-5 or 3-5% of the project price, whichever is greater. This is one of the lower commission rates out there for freelance platforms.

7. Guru

The Guru platform makes it easy for freelancers to create a profile that demonstrates their experience and skill set, helping potential employers easily find the freelancer online to reach out about projects. Guru also features a wide variety of different job postings that freelancers can apply to, including projects for programmers and developers, designers, artists, writers, translators, sales and marketing professionals, secretaries, engineers and architects, business and finance professionals, and lawyers. Users have a limited amount of free applications, and Guru takes a 9% commission rate.

8. SolidGigs

Similar to some of the other freelance sites, SolidGigs hand-picks the freelance job opportunities you see by filtering out the scam postings and junk opportunities that are a waste of time. After combing through dozens of freelance job boards, SolidGigs sends you the top 2% of freelance gigs available each week straight to your inbox. As an added benefit, SolidGigs also has a massive resource library with courses, interviews, templates, and other tools that will help you pitch, price, and sell your freelance skills to new clients. After a 30-day trial period for $2, regular membership is $19 per month.

9. Belay

Interested in becoming a virtual personal assistant? Belay is one of the leading virtual assistant solutions companies in the United States. The site offers both part- and full-time virtual assistant positions for freelancers who want flexible, remote work as an administrative assistant. It’s important to note that Belay is looking for individuals with at least 5 years of experience in an administrative support role and availability during business hours with at least 20 hours per week to dedicate to the work.

10. Toptal

Toptal helps freelancers in the IT and finance spaces find quality gigs. Jobs can range from software engineering and coding projects to market research and product management. It’s important to note that Toptal is not the best option for those who are new to freelancing or those who only have a few years of experience in their industry. You have to apply to be able to use the platform, and the company only accepts the top 3% of freelancers.

Boost your income by taking charge of your freelance game. Try one or more of the above services as a way to supplement your full-time job.

Uber Raising $1B, Optimus Primes NYC and Waymo Announces a New Fleet Center

March 22, 2019/in Blog/by Sharon

This Week In On Demand― March 21, 2019

This week, NYC gets its first autonomous shuttle service, more transit authorities are looking to ridesharing partnerships to fill gaps in service, and UberEats invests in real estate.

Self Driving Shuttle Coming to New York City

MIT-based company Optimus Ride is bringing New York City’s first driverless shuttle program to private roads in New York City. The shuttle provides rides for ferry passengers in the Brooklyn Navy Yard to an industrial center with over 400 businesses.

Current New York legislation allows autonomous vehicle testing and trials on roads with a permit from the DMV, but this permit is expiring next month. The loop shuttle service is different than autonomous vehicles operating on public roads. These vehicles carry multiple passengers and operate on the same route daily.

The public is generally opposed to autonomous vehicle programs on public roads, especially after Uber made headlines when one of its driverless fleet struck and killed an Arizona woman. By providing driverless vehicle services in private communities, Optimus Ride is working to change the public perception of autonomous vehicles. This smart move will hopefully pay off: they are also heading similar programs in private communities in Washington, DC and California.

ButterFLi Grant Provides Ridesharing Services to Disabled LA Residents

The LA Department of Transportation provided a grant to help Angelinos with accessibility issues get reduced fare rides in downtown LA. Ridesharing service ButterFLi provides rides during times when public transit services are not readily available. The grant allows eligible riders to receive $2 rides within an 8-mile service area eight times per month through FlexLA, a ridesharing pilot program.

As government transit authorities contend with aging fleets, high maintenance costs, and a lack of services during late night hours, partnering with ridesharing companies provide an easier alternative to handling services in-house. Though the current trend is to use larger companies like Lyft and Uber, smaller ridesharing companies like ButterFLi that win these transit contracts enjoy more consistent revenue and brand awareness.

Uber Raising $1B in Advance of IPO for Autonomous Program

In advance of its April IPO, Uber is in talks to raise $1 billion for its autonomous vehicle unit. Part of the money is likely coming from Softbank. The capital would provided a much-needed injection to the company, as many have questioned the progress in their driverless car program. TechCrunch estimates Uber has spent as much as $20 million per month on the program.

If Uber is able to raise the money, their autonomous vehicle program, which includes the Freight program that’s launching in Europe, would be valuated at $10 billion. The company itself is valuated at $70 billion, even with net losses up 32% quarter-over-quarter late last year.

Uber’s upcoming IPO gives investors an incentive to sink capital into the company. The move is a win for everyone; if the deal goes through before the IPO, it will make the company more attractive to buyers during the IPO.

Waymo Opening New Fleet Center in Mesa, Arizona

Waymo is opening a new 85,000 square foot center to service its Waymo One self-driving cars in Mesa, Arizona.

The move makes sense since it began operating its on demand driverless car service in Phoenix in December. Business is booming for Waymo. They’ve received approval to open a manufacturing facility in Michigan and are allegedly in talks to open a driverless taxi service.

A survey from AAA shows that Americans are still uneasy about autonomous cars. 71% of respondents said they were afraid to ride in driverless cars.

Waymo provides a human backup driver in the car, which helps ease the fears of new riders. A report by the California DMV shows Waymo’s cars needed less human intervention in 2018 than prior years. With human intervention required once every 11,154 miles, Waymo’s cars are the safest. By continuing to encourage the use of on demand driverless car services, companies like Waymo can improve the perception of autonomous vehicles on city streets.

UberEats Investing in Real Estate for Food Delivery

A secret pilot program by UberEats in Paris shows the company is now in the real estate business.

Bloomberg reports the company is leasing vacant real estate and turning them into commercial kitchens for the sole purpose of food delivery.

The program rents these “ghost kitchens” to restaurants to use as satellite locations for food delivery only. The catch? UberEats provides the delivery services.

Uber isn’t the only one in the game. Former Uber CEO Travis Kalanick operates a similar company, CloudKitchens, part of a larger real estate company, City Storage Systems. The biggest difference is that CloudKitchens buys distressed real estate instead of leasing it. Unlike UberEats, which provides delivery service through its app, CloudKitchens customers have the freedom to use as many delivery providers as they choose. The service also provides labor at the locations, requiring restaurants to drop off food and CloudKitchens does the rest.

CloudKitchens is already operating in LA, with plans to expand into Chicago soon.

Not only does this provide a way for restaurants to expand operations without taking on the burden of opening a new location, new restaurant owners can enter into markets with less overhead.

The Employers Guide to Hiring on Wonolo

March 21, 2019/in Blog/by Cassandra

Wonolo is an app similar to Shiftgig or Gigwalk in that it allows individuals to pick up shifts on demand based on their schedule and skillset. This can be an excellent tool for businesses that need additional help throughout the year but aren’t ready to hire someone full-time.

In this guide, we’ll explain how Wonolo works and how it can help your business fill in the gaps when you need extra help. We’ll also provide you with the basics of how to find help on Wonolo and some tips for getting the most out of the app.

How Does Wonolo Work?

Wonolo promises to make on-demand staffing simple with an easy three-step process for employers. The employer or “requestor” can start posting a job in a matter of minutes:

The requestor creates and posts the job using a clear description.
The Wonoloer accepts the job when they are available and are the right fit for the job.
The Wonoler completes the job, and the requestor approves the job by giving the Wonoler a rating.

It’s that easy! Wonolo also takes care of all payment processing after the job has been approved. There are no employment contracts necessary. The Wonoler’s relationship to the employer is that of an independent contractor. After the shift is over and the work has been approved, there are no further agreements between the two.

Benefits of Using Wonolo for Your Business

There are many benefits to using Wonolo to hire temporary staff for your business. The platform is built around the principle of helping match employers with effective, on-demand workers qualified to help meet the business’ needs. While a temporary staffing agency may take time to find the right hire, Wonolo gives you access to a pool of pre-qualified, vetted, and reliable workers who are motivated to help your business with little notice.

Not only can Wonolo help find your business temporary staff quickly, but the app also boasts a 90% average fill rate for all positions, while traditional temporary and contract staffing companies have a fill rate averaging 34%. Additionally, Wonolo is cost-effective, costing business an average of 40% less than working with a staffing agency. Wonolo allows you to set the rates for each position, giving you more control over your budget.

All Wonoloers undergo a qualification process before they can start accepting shifts, which means companies can feel secure in knowing they are working with pre-screened and vetted workers. Every Wonoler must agree to Wonolo’s temporary worker contract, which outlines all worker expectations. They also must undergo a background check, tests, and screening calls.

How to Hire Temporary Workers on Wonolo

When you’re ready to start hiring temporary workers on Wonolo, the job posting process is pretty simple. First, you’ll need to work on your job description. The jobs that fill up quickly tend to have concise descriptions that include the following information:

Description of the company
Description of the main job tasks
Any preparation that’s required, such as reading material
Any specific job requirements, like dress code or knowledge of technology
Any tools required, like a smartphone or certain shoes or clothing
Logistical information, like how to find the building, who to contact on arrival, etc.

Once you have created a description for the job, you’ll need to decide on a pay rate. This is entirely up to you, but consider making the hourly pay rate competitive with market rates if you want a Wonoloer to accept the job. Once you’ve chosen a pay rate, you will post the job and wait for a Wonoloer to accept it.

Wonoloers only accept jobs they are available and qualified for. Once they accept the job, you can expect to see them on site for the specified shift. After you have found specific Wonoloers you like working with, you can add them to your Preferred Wonoloers list and invite them to more jobs in the future. If you find some Wonoloers that are not a good fit, you can also block them from seeing future ad postings in the app.

Wonolo Payments & Fees

Once the requestor has approved the Wonoloer’s job, Wonolo will pay the worker directly on the next day. Wonolo will charge the requestor’s card on file immediately after they have rated the Wonoloer’s performance, so it’s important that the requestor makes any necessary payment adjustments before approving the job.

Wonolo charges a 45% service fee, which is applied after the requestor has approved the job and rated the Wonoloer’s performance. Wonolo will send an invoice after job approval with both worker payment and service fee – both of which are charged immediately after approval.

Hints & Tips for Using Wonolo as a Requestor

Here are some additional tips for getting the most out of the Wonolo app as an employer:

If you want to get in touch with Wonoloers, use the in-app messenger. Once the worker has picked up the job, you’ll be able to see their profile page, including any pertinent contact information.
If you want to invite a specific Wonoloer to a job posting, click on the button “Preferred Wonoloers” at the bottom of the job posting page and click on the name of the Wonoloer you’d like to add to the list. After you click “Post Job,” the notification will be sent.
To save time, you can create teams of Wonoloers within your account, making it easy to invite them to a specific job opportunity later. Just add the team to the job before posting to notify them.
Be sure to choose your preferred method of receiving notifications so you don’t miss a message. In addition to in-app notifications, you can also get text and email notifications.

Overall, Wonolo is a great option for businesses who need to fill in the employment gaps during busy times of the year. Whether you need servers, event staff, cashiers, administrative personnel, or warehouse workers, you can find the temporary help you need on Wonolo.

How to Set Up the Best Rate for Yourself on TaskRabbit

March 19, 2019/in Blog/by Farhan

Looking to snag some side hustle cash?

TaskRabbit is a great way to create your own schedule and fill it with jobs that you enjoy. Running errands, assembling furniture, and holiday decorating are just some of the many jobs available for you to explore.

As an independent contractor, make sure you understand the key a successful side biz: selecting the best rate to charge your clients for your services.

Let’s get to work!

Start with a Thorough Application

Depending on where you live, being a Tasker can be a little competitive. Big cities will have more people competing for the same work. For this reason, building a stellar application that lists as many skills as you can and gives specifics about your experience is very important.

Highlight any customer-service experience you have and take extra time to answer the questions provided. There is even a space to upload an introductory video. Use this short video to introduce yourself and why you’re excited to work with your new clients.

Does working around people energize you? Are you passionate about helping others? Be sure to smile!

Check Out the Suggested Rates

Below each task’s description, you can find a list of expectations. Once you click “I agree that I am able to fulfill these expectations,” your Tasker rate window will allow you to adjust your individual rates.

You will find a colorful bar with sample rates. TaskRabbit analyzes these rates based on market data, your experience, and a client’s willingness to pay you according to the market value of the service.

If you enter a rate higher than the ones suggested, it will inform you that the rate may be too high to get hired for the job. The range of rates available will automatically update with every new task you complete and when supply and demand ratios change in your area. For example, during the holidays, more people will be searching for last-minute holiday gift wrappers, so this can be beneficial for you.

Increase Your Rates Over Time

Although TaskRabbit makes sure you are working at least for your area’s minimum wage, the company also takes 30 percent of your earnings. If the suggested market rate is already lower than you’d like, think about the long-term game. Once you complete a task – say running errands for a family nearby – increase your rates after successfully completing that job. Test raising your rates by $1 after each job; you’ll be surprised how high you can go.

Know Your Worth

TaskRabbit can offer some seemingly basic jobs to Taskers, but don’t undersell yourself and what your time and energy are worth. Take into consideration how far you are commuting for this job, if you need to take public transportation, and if any of the tasks become inconvenient to complete. Keep raising your rates with each new task. You’re worth it!

Take Supplies Into Account

With some jobs, there are no tools required. But with many, like furniture assembly, cleaning, or moving, there are things you can bring to increase your chances of getting booked by clients.

A decent toolset can run upward of $50 or more. If you choose to invest in something like this for your Tasker side hustle, be sure to take that into account when setting your rates. Think about it like a long-term investment, something that will eventually pay for itself with all the jobs you book because you come prepared with your own supplies.

Don’t be afraid to set your rates higher over time for that industrial power tool; it will get you far with IKEA furniture assembly.

Consider Your Skillsets

There are many jobs to choose from on TaskRabbit, some more labor intensive than others. Tasks like heavy-lifting, moving, and carpentry have higher rates than other tasks, starting out at upwards of $25 – $27. While these numbers are tempting, take into consideration the effort these tasks will entail, such as lifting heavy boxes up and down stairs.

Other tasks, like waiting in line for concert tickets, will not require as much physical labor (although if you are not able to stand for long periods of time, think twice before signing yourself up for this one), and may be better options if you are not looking to exert manual labor on the job. If you have physical limitations like a bad knee or arthritis, try out jobs like organizational and shopping tasks.

Cleaning your home may not thrill you, but if you have great attention to detail, you may want to emphasize this experience on your profile.

Check-In With Local Taskers Near You!

If this is your first time applying with TaskRabbit, it’s not a bad idea to network with other Taskers in your area. Simply type “TaskRabbit” into Facebook or other social media platforms and filter by Groups. You should be able to find groups of several hundred other Taskers willing to help out if you have questions.

To get an insider’s scoop, introduce yourself in a post once you get accepted into the group by its admin. Be sure to read and follow rules set up by the page. Who knows, maybe you’ll find a great conversation thread about rate setting or how to deal with unruly clients.

Setting your rates, no matter your industry, can be a tough thing for freelancers and individual contractors. With TaskRabbit, you deserve to get the most from your tasks. Stick to your guns and stay tuned for more helpful tips!

Maven Gig – Uber, Lyft, Postmates And Doordash Rental Cars

March 17, 2019/in Blog, Cars & Vehicles/by Brandon

Maven gig is a car rental option for rideshare or delivery drivers. It make the most sense for those who are looking to decrease out of pocket maintenance and fuel costs.

If you’re a Lyft or Uber driver (or both), or you deliver goods for Instacart, Postmates, or Doordash, you’re probably concerned about the wear and tear on your vehicle.

After all, when you drive rideshare or delivery, you do need to replace things like brakes, tires, and oil, more often than if you were just using your car for personal use.

Thankfully, these days you have a few car rental options that let you continue to earn money through services like Uber or Doordash, but without having to worry about a check engine light coming on, or how much tread is left on the tires.

Previously, we’ve looked at rideshare rental options like Fair.com and Lyft Express Drive, but today we’re looking at Maven Gig.

(Disclosure – We independently research our content to provide free advice for you. We may get compensation if you sign up with services, or purchase products through our affiliate links.)

What is Maven Gig?

Maven Gig lets you rent a car to use for all of your side gigs, whether it’s delivering for Postmates, driving Uber, or working for Handy. You get a vehicle that lets you earn money on your terms, with unlimited miles, maintenance and insurance included.

The service is offered by Maven, a subsidiary of General Motors. Some of you may remember the early Lyft and Uber competitor Sidecar. After Sidecar shut down in late 2015, GM hired some former Sidecar employees, and bought some of Sidecar’s assets, to form Maven.

Since then, Maven rideshare vehicles have covered over 250 million miles while delivering goods and people to the places they need to be.

“Maven remains committed to a mobility model that takes critical steps toward developing sustainable and livable cities, including launching peer-to-peer car sharing and deploying electric vehicles in high-mileage, shared-use applications.” – Alex Keros, Smart Cities Chief at GM Urban Mobility / Maven

In addition to Gig, Maven also offers two other car rental services.

Maven Car Sharing For Members – Offers hourly, daily, or monthly rental cars with gas and insurance, and dedicated Maven parking spots. (Sign up now to get 20% off your first rental.)
Maven Car Sharing For Owners – Lets vehicle owners rent out their cars. Owners get 60% of trip revenue and their vehicle is insured by Maven during the rental period

Join Maven

How does the Maven Gig program work?

Once you’ve signed up for Maven (see the sign up process further down this page), it’s actually pretty simple.

1. Select your vehicle.

2. Reserve it. (Currently, you can only reserve for the same day, or the next business day)

3. At the time of your reservation, go to the pickup address, unlock the car using the Maven app, and drive away. Be sure to upload your Maven vehicle and insurance information to Lyft, Uber, or whichever service you’ll be working for, before you pick up your vehicle. It often takes a few hours for gig economy services to approve a new vehicle.

How do I pay for Maven?

When you make your reservation, Maven will put a $250 authorization hold on your credit card. Within 24 hours of picking up your car, the exact reservation amount will be taken from those held funds.

If your reservation is less than $250, Maven will release the outstanding amount back to you. If it ends up being more than $250, you will see an additional charge for the remaining funds.

Maven bills weekly, so your billing date will be the day of the week you started your reservation. So, if you start your reservation on a Tuesday, you will be charged every week on Tuesday.

How Do I Link Maven to Lyft, Uber, Doordash etc…?

After you reserve your vehicle, Maven will provide you with a Certificate of Insurance with your name, and vehicle VIN details, so you can upload it to various ridesharing driver or delivery platforms.

Where do I find my Maven certificate of insurance?

Open your Maven App and click “More” in the bottom right corner. You’ll see the Certificate of Insurance link where you can view the COI.

How To Get Approved For Maven Gig?

The Maven sign up and application process is pretty simple. Download the Maven Car Sharing app from the App Store, Google Play, or from the Maven website, and follow these instructions.

1. Select your driving country.

2. Click on “Drive to earn with ride sharing and delivery services”.

3. Select your Maven Rideshare market.

4. Accept Maven’s terms and conditions.

5. Enter your name, phone, address, and driver’s license information.

6. Wait for approval. Maven says this can take up to two days, but generally it takes less than an hour.

How old do you need to be to rent from Maven?

To rent from Maven Gig, you must be 21 years or older. However, if you’re in NYC, you only need to be 19 years or older, but you will also need to have a valid TLC license.

Besides that, you’ll just need a Valid credit or debit card.

How Much Are Maven Rentals?

Maven rideshare rentals rates start at $199 for compacts, sedans, and crossover suvs, and at $229 for the Chevy EV Bolt. However, certain markets may be slightly more expensive. You can select from a variety of GM vehicles including the Chevy Cruze and Colorado.

The Chevy Equinox, which qualifies for Lyft XL and Uber XL, is also available.

The minimum rental time is 6 days and the maximum time is 28 days (35 in California). Standard rental vehicle terms are for 28 or 35 days, but you can return the car after the first week without penalty.

If you are renting a Maven vehicle to drive rideshare or delivery, your full rental cost is a tax-deductible business expense.

What states and cities are Maven Gig rideshare rentals available in?

You can rent a Maven vehicle for gig work in:

Austin
Baltimore
Boston
Detroit
Los Angeles
Phoenix
San Diego
San Francisco
Washington, D.C.

How does Maven compare to services like HyreCar, Fair, and Lyft Express Drive?

Overall, the rental rates are comparable. Similar to renting with HyreCar and Fair, renting with Maven doesn’t lock you into driving for one particular service (on Lyft Express Drive, you can only Drive With Lyft).

However, with Maven you get access to GM’s OnStar network, and to the Chevy EV Bolt.

Driving with a Chevy Bolt on Maven also gives you access to the EVgo charging network for free vehicle charging. In 2018, Maven contracted with EVgo to build a dedicated network of fast charging stations exclusively for Maven Chevy Bolt drivers.

With this arrangement, not only do Chevy Bolt EV drivers on Maven not have to pay for gas, they don’t even have to pay for the electricity to charge the vehicle.

Click here to find your nearest EVgo charging location. Maven also has existing partnerships with Deliv, Grubhub, HopSkipJump, and Roadie.

What is Maven’s phone number?

Maven doesn’t force you to use email or a chat app. To reach Maven customer service, simply call 1-844-HIMAVEN (1-844-446-2836).

Is Maven a good rental option for Uber, Lyft or Postmates drivers?

It depends. If you’re a Lyft driver, but you only drive 10 to 15 hours a week, it probably doesn’t make sense to rent a car from Maven. On the other hand, if you drive 30 hours a week or more total (for Lyft, or for a bunch of services together), Maven is a great option.

So, if you drive full time for your side hustles and you’re in one of the cities where Maven is available, then it’s certainly an option you should consider strongly.

Maven’s Big Advantage Over Hyrecar, Fair, and Express Drive

While Maven’s rates are comparable to other rideshare rental services like Hyrecar or Fair, renting with Maven can give you access to an electric vehicle and free charging. This alone is worth picking Maven over some of the alternatives, as it amounts to free gas.

Another advantage of Maven versus Fair or Hyrecar is the keyless pickup. With Hyrecar, you’re picking up from an individual, which means setting a pickup time, and going to meet the person. If you rent from Fair.com, you usually have to go to a dealer, speak to someone there, and then pick up your car.

With Maven, you show up, unlock the car with the Maven app, and hit the road.

So, if you’re already driving full time for Lyft, Doordash or a combination of services, a Maven rental could be a great option.

Don’t take our word for it, check out the Maven app, where you can browse available vehicles, reserve a tax-deductible rental, or even rent out your own vehicle when you’re not using it.

Click the button below to get started renting from Maven Gig today!