Uber has the value of around $100B, and it made a gross revenue of $65B and a net revenue of $14B in 2019, and all of that without owning a single car!
How does Uber make money?
This is the first question that most people ask when they hear the above mentioned numbers.
And that’s a legit question, because if Uber could make such a huge amount of money through offering and managing rides through more than 3 million drivers to more than 75 million riders, without investing in a single car, then you might be able to make money with the same business model without a big investment as well.
Can you really make money like Uber does?
If yes, then how?
And if no, then what is the alternative?
These questions and more, I will be covering in this short article, and at the end of it, you will learn about the place that helped me start a business that makes me money with a very similar method to Uber’s way of making money, which you can join today.
So, without further ado, let’s begin!
How Does Uber Make Money?
Uber makes money by connecting riders looking for a ride with drivers who own cars and are willing to give rides, in exchange for a commission that they cut from the drivers’ fees on every ride. And this business model is called affiliate marketing, or referral marketing.
And this is a very popular model that many companies of all sizes make money with, and it is a completely legitimate model.
For example, this is how OpenTable.com makes money by referring people looking for certain kind of restaurants in their areas, in exchange of a commission on every booking that comes through their website.
And it is how other sharing-economy companies make money, like Airbnb that makes money through this model when they connect tenants with property owners for example.
And now, to the important question that brought you here:
Can You Make Money with The Uber Business Model?
As I said earlier, Uber’s business model, affiliate marketing, allows companies and individuals to make money without a big investment, and without creating a product or providing a service, because they will leverage others’ products and services and market them to people who need them in exchange for a commission on every sale they bring.
I personally make the majority of my own income with the same business model of the Uber app.
And the nice thing is that you can make money with this model in almost any market, and not necessarily with booking rides or booking hotels.
For example, you can make money with Uber’s model by helping people find cheap flights, or find the best cruise trips.
And when people take your recommendation and book what you recommended to them, you would get a commission from whoever provided that service.
Even better, you don’t have to work in the reservation-related industries in order to make money like Uber does.
You can promote anything that is sold online in exchange of an affiliate commission.
For example, I make money with the same business model of Uber by promoting a video course that is tailored towards basketball players.
And I get a commission of around $66 everytime someone I referred buys the course.
And you too, can do the same with the same method without having to sell a product or provide a service by yourself.
And again, you can do this in almost any industry or market, which could be related to a sport, a hobby, a passion, a cause, a profession, a skill, and so on.
Can You Make Money with Uber itself?
You can make money with uber in two ways:
First: Driving for Uber riders, but you need to invest in a car.
Second (and the best!): Through the same model that Uber makes money with, affiliate marketing.
Uber has something that is called an affiliate program, which you can join in order to start inviting others to use the Uber app, either as riders, or as drivers, and you would get a commission on every referral you bring.
And if you liked this model and you are interested in learning how YOU can make money the same way without prior technical experience, then the next section is for you!
Start Your Own Uber-Like Business in 3 Steps
1 – Choose Your Audience
If you want to start any kind of business, you need to know who your target audience is.
This is important in order to help you focus and succeed with your business.
You need to focus your efforts and make them effective so that you make money, and this happens only if you focus on a certain group of people.
Uber, for example, focused on people who don’t own cars, and don’t have someone to give them a ride at anytime or any place.
And these people want a safe ride that is tracked and reported.
And Uber made their app provide all what these people need, and that’s why people like to use Uber to book rides, which makes Uber money.
And if you focus on a specific audience as well, and provide them with what they want, then you can also make money with the same way that Uber uses to earn money.
And as I stated earlier, this doesn’t have to be related to booking rides, restaurants, cruise trips, hotels, or experiences, but it can be about almost anything like: lawyers, mortgage companies, dieting, yoga, tennis, basketball, cooking, home repairs, credit repair, loans, …etc.
But you can also make it about rides, or about car rentals for example, like how Expedia makes money as well.
2 – Build a Simple Affiliate Site Instead of an App Like Uber
Apps need more technical knowledge than websites.
Thanks to WordPress and the tools and training I will tell you about in the following section, you can create a simple website in few minutes without any technical knowledge or coding.
After you have decided on your niche, now you need to pick a suitable domain name and start a simple WordPress website that doesn’t require any technical experience or coding.
But you need a website in order to bring people and offer them what you want to promote as an affiliate, just like Uber created the app for people to use it and look for rides.
3 – Start Helping Your Audience Like Uber Does
Making money is all about helping your audience solve a problem or achieve a certain result.
Uber earns money by helping their app’s users find safe, cheap, and quick rides.
That’s why Uber’s users trust the app and the company behind it, and that’s why they book rides through it, which allows Uber to make money (commissions) as a result.
And you need to do the same in your website, and help your target audience in finding what helps them.
For example, if you have a website that is all about finding rental cars, flights, restaurants, and hotels in a certain country or city, like Washington for example, then your audience might ask on Google stuff like:
- Best car rental companies in Washington DC
- Best Italian restaurants in Washington DC
- Best Mexican restaurants in Washington DC
- Best Japanese restaurants in Washington DC
- Best flights to Seattle Washington
And so on.
And your job here is that for each on of these search queries, you find the best deals and choices available and list them in one article per question.
And when you list any of these services and deals, you link out from your site to these services sites through a unique link (affiliate link) that the company or service provider would be able to track, so that they credit you for the customers you bring to them, and give you a commission.
And that, my friend, is how you can start a business that works with the same business model of the Uber app, and makes you money without investing in a car, a product, a restaurant, and without providing a service by yourself.
And if you are interested in creating a business that works with this model and earns you income, but you don’t know how and where to start from, then the following section is for you!
Someone to Help You Start a Business Like Uber, Step-by-Step?
I have the best place to recommend to you.
This is the same place where I learned and started my own affiliate businesses that make me money like how Uber makes money to its owners.
And this place is an online platform and community that is called Wealthy Affiliate.
This is the place to go in order to learn affiliate marketing and start building your income generating business with Uber’s business model, because they provide you with all what you need such as:
- The step-by-step, detailed training program that suits even absolute beginners.
- The hassle-free web hosting and support so that you start an affiliate site in 30-seconds without prior technical knowledge.
- The research tools to help you find the best opportunities for making money with the Uber business model based on your industry and audience.
- And the great and supportive community of more than 2 million entrepreneurs and experts who are willing to give you a hand whenever you need in your journey.
And much more.
And the great thing is that you get of all that for an affordable monthly fee that doesn’t come with hidden fees and upsells.
Want something better?
You can start with this recommended platform at the beginning for FREE in order to try it, and they will give you access to the first level of the training (10 lessons), tools, and community before you invest any money in it.
This is the best place to go if you were serious about making money with the business model of Uber, even without any prior experience and without a big investment.
Check out my full review of Wealthy Affiliate here in order to learn more about what this platform and community can give to you, and how to get started with their free plan at first.
I hope that this short article was enough to help you understand how Uber makes money without owning any car, and how you can leverage the same great model in order to supplement your income like I personally do.
If you are interested in starting a business that makes you money with the same business model of Uber, even if you have no experience at the moment, then I recommend that you join the platform and community I mentioned in the previous section.
And if you still have any question about Uber’s business model, or about anything I mentioned in this short article, then please, ask me in the comments’ section below and I will be happy to answer you asap 🙂