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Uber and Taxify (now known as Bolt) are competitors as far as the ride-hailing sector is concerned. Innovation brought about an innovative sector that allowed anyone to ‘stop’ and ride in a cool car just with an app. It is really amazing and nice too. And as things stand now, Uber and Taxify are the world’s largest ride-hailing companies.
Interestingly, there are usually comparisons between the two firms – as expected. We can compare from two different perspectives – from the side of a customer and from that of a driver/ investor.
Nevertheless, in this article, we will be comparing these two companies from the angle of a driver and investor.
So, for those wondering which among these two giant pays drivers more, or which pays investors more, you should have an idea after going through this.
An Uber Or a Taxify driver?
One of the beautiful things about technology is how it can be utilised to create more job opportunities as well as wealth. When these companies came to Lagos, Nigeria, they were able to create more job opportunities for many Nigerians (directly and indirectly), as well as give investors the chance to make more money from their spare cars (by buying cars for drivers).
When it was discovered that more and more people are doing great by working with these companies, even more Nigerians started showing interest – and are now pondering on which to opt for between Taxify and Uber.
Well, it is necessary to know how both companies determine their fares, before talking about what percentage of the trip fare is taken by drivers. This is a nice way to determine which of them you will go for as a driver or investor.
It is necessary to know that the prices and fares of Uber and Taxify is determined by the following factors (though not limited to them):
– Distance
– Base
– Time
So, someone going to a place like Ikeja to Surulere won’t be paying the same amount of money as someone going to Surulere from Badagry. Some trips will take more time due to distance. Additionally, when you want to get a driver, there are times when the nearest driver around you will still have to drive a distant to get to you.
So, these are factors Uber or Taxify (Bolt) will use to calculate how much a rider will be paying for fare (which will determine how much you will get as a driver).
Now, let’s consider the percentage of these trip fares that drivers on the two companies gets.
From our findings,, the amount or the earnings of the drivers taken by the companies vary. It was made known by a source that Uber takes between 20% to 30% of the drivers’ earnings while the other collects between 15% to 20% of what the drivers get.
Hence, it is evident (from the above) that the average Taxify drivers COULD have a better chance of making more money than Uber drivers. Why did we used the word “could”?
Because it isn’t a straight to the point thing. Uber is actually more popular than Taxify. Despite being more expensive than Taxify, a lot of people still appear to prefer it. What does this mean? It means, the average Uber driver will likely get more passengers than their Taxify counterparts.
Of course, despite Uber being more popular, Taxify is also doing great to an extent, and they have their own patronisers too. So, you just have to know what you want and simply go for what you want. If you want to do a part time stuff, you might want to try Taxify first (since you won’t be spending most of the time on the road searching for passengers to carry).
Actually, the truth remains that drivers deserves being duly compensated for what they do. The spend energy behind the wheel, trying to give riders pleasant experiences. Let’s even consider the fact that many of our road in this part of the world is bad. Apart from the fact that many drivers are at risk, we should also consider how much work they have to do just to ensure that their passengers have a good experience. Hence, drivers also played a role in the popularity and growth of these companies.
So, as a driver, know that Taxify drivers get more money cuts than the Uber drivers (the latter takes more cut from their driver-partners than the former does).
Investors: Uber or Taxify?
After dealing with this from the perspective of a driver, let’s talk about that of an investor. Which Pays Investors More? In case you are not aware, not all drivers on these platforms have their own car. Actually, there are people (investors) who invest cars (fleet owners) into the business.
What the company simply does is to hands them over to worthy drivers. So, the investor simply sit back and his cars makes money for him. Now, which of these ride-hailing companies pays these category of people more?
From one source, it was noted that what an investor will earn has a lot to do with the quality or type of car that is being invested into the business. It was made known that the better the car, the higher the amount that will be earned each week.
Additionally, what you will also get (as a fleet owner) has a lot to do with how well the driver works. While some investors can earn up to N40,000 each week, some can earn slightly below (irrespective of which of the platforms they are using).
In conclusion, both companies are innovative firms that have disrupted the car hailing sector in Nigeria (as well as several other countries where they are present). There was a time people are at the mercy of the traditional taxi drivers who collect big fares for short distances (if the passenger isn’t familiar with the environment). But Taxify and Uber changed such narratives. So, either as a passenger or driver (or even an investor), use what you feel comfortable with.
