Most gig economist bet on highly profitable days, among those days are weekends and holidays. The problem is they themselves and everyone else are banking on the same thing sometimes causing highly saturated markets causing little to no money being made. You cannot bet blindly, you cannot afford to assume the pickings will be plentiful, trust me I use to do that until I started having a form of strategic planning to maximize my profitability in the gig economy business especially as it pertains to rideshare.
ASSESSING: I say this all the time, but it is key, you must be able to gauge the climates in which you work, yes both natural element climate and economic climate. There are many variables that play into this but for the sake of keeping a short blog I will stick to these few:
- Weather, if you’ve done gig jobs weather plays a big part in the construct. If you do gigs such as GrubHub, UberEats, DoorDash, you usually will see a spike in demand because people choose not to travel in the rain especially here in Atlanta when the driving is horrific in the rain. Depending on the time of day you can really make bank.
- Events, this seems easy, but you must be strategic here as well. Sure you can simply wait outside of venues hoping to catch a unicorn ride or slight surge but I can assure you a lot of wasted time. I believe if I am out my wheels need to be moving at all times! When you check out the events are sure to check out the venues too, take note of the capacity and see if online the events were sold out. This will help you really see if it’s worth working the area.
- Hotels, call your local hotels and ask the help desk if they are booked to capacity or go online and see what rooms are available and the price. If high prices I can assure you the capacity level is high. They raise the prices due to demand!
Assessing the local economy and possible demands will help you game plan. Sometimes I do the complete opposite of what I know most will do. Take for instance big concerts, I avoid them especially at a venue that holds 40,000+, the reason being I know most drivers will flock there in hopes of making big bucks. What ends up happening is the driver is left in gridlock traffic and the probability of a rider going over 10 miles is slim. Unless the pickup is somewhat early and the pickup is strategically placed it just not worth it. I, on the other hand, will work 5-8 outside of that area catching the bleed overs making often much more than those stuck in standstill traffic.
Take for instance the Shaky Knees concert that will be her May 3rd, 4th, and 5th. The draws in a nice crowd full of locals and out of towners. This crowd will be widely spread out and the pick-up area is well organized so it will be worth working. I know this because I’ve already done my research and can somewhat gauge the demands.
Another thing a lot of gig workers that tend to do more of the food delivery services will hop on driving more this weekend, which will leave me the opportunity to play the other side of the field in slow times with rideshare. The human conditions can be very easy to predict, so I use that to my advantage. So let me ask you the following:
- Do you plan on using multiple gig platforms?
- Are you willing to take 1-2 hours to research some data to see what areas may be profitable to you?
- Have you assessed the climate of the weekend? What’s coming to town? i.e. Here in Atlanta we have a 3 day music festival/concert, Amazon is hosting a free conference which has brought thousands, there are other major conferences in town, and Sunday is Cinco De Mayo; as for the weather it is projected to rain Friday, Saturday possible thunderstorms, and more rain on Sunday. All these variable make a huge impact on how one is to work their selected gigs.
- Do you have a daily budget and goal of pay?
- Do you have specific times you want to work? This is important, you don’t want to just be driving around off and on you ought to and must set time schedules as to when you do your gigs. If you don’t you will burn out!
In all make your assessing measurable, keep it simple, think of a plan, write down the plan, execute the plan. Always leave room for flexibility and chance; if anything changes or through you off at least you have your plan to revise and assess. This will help you with future plans and what will begin to happen is you’ll start noticing trends, profitability, and consumer patterns. This is how you develop a 6 sense if you will for these gigs. I strongly suggest you write down your assessment / strategic plan either on 1 full sheet of paper or in your notes on your cell phone. This will keep you on task and focused on the bigger picture!
THE CEO DRIVEHER 