Lyft Finds 82% of Drivers Work Less Than 20 Hours Per Week
82% of drivers spend less than 20 hours per week working for Lyft, the company found
Lyft's research also found that 26% of drivers own a small business and 74% said they use their earnings from Lyft to support those small businesses it explains why they only drive 20 hours a week.
Additionally, the survey revealed that on average, 57% of drivers' earnings from Lyft are used toward primary life expenses, which supports the common perception that despite many drivers spending only a few hours per week on the job, a majority of their earnings supplement other income that isn't enough to make ends meet.
"We found that the drivers are middle to lower income [and] below the federal median by 10% to 12%," Land Econ Group Bill Lee told Fortune.
In 2016, Lyft said it has paid out $1.5 billion in earnings to drivers, including $100 million in tips from passengers.
Other data about driver demographics from the survey include: 66% self-identify with minority groups, 27% are women, 25% are 50 years old and over, 44% have at least one child in their household, 10% are veterans, and 40% are caretakers for family or friends. Also, 82% employed or seeking employment, 6% are students, and 5% are retired.
Like Uber states in a lot of their Ads, Get your hustle on. working for uber or lyft is a great way to make some extra cash but should it really be your full time job?
Find something that is needed in society and spend your downtime hammering out a plan to get it going.
TLC Financing can get you in the car you want and if you have that bright idea we maybe able to help bring it to market in financing your dream as well.