Category: TLC

Side-Hustle or Main Gig?

After getting my TLC license two summers ago, I’ve since adopted “rideshare driving” (which is basically giving out rides in a black car vs. a yellow cab) in New York City (NYC).  It’s become my main source of income, and hence I’m doing it full-time (40+ hours per week).  And depend completely upon the income I make doing “rideshare driving” to pay bills, pay down debt, and otherwise live.

It’s not abnormal for “rideshare drivers” in NYC to be driving full-time, because often the drivers have big overhead costs that are unique to this location.  For example, you can’t just use any old car for ridesharing in NYC.  The black car has to be registered with Taxi & Limousine Commission (TLC), which requires an inspection, commercial insurance, etc.

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When Getting TLC license: The 24-hour Course?

As part of getting TLC license, I was required by the city of New York to attend the “24-hour” course.  The reason it’s called that is because it’s a three day course, each day requiring eight hours of instruction (8 x 3 = 24).  The interesting thing was that I had already received my TLC license, and was driving with rideshare apps in NYC when I took the course.  Although it’s a mandatory component of getting TLC license, I was not required to enroll until my probationary (i.e.,  the purple one-year license) license was set to expire.  

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How Much Can I Make Rideshare Driving in NYC?

J.M. here. January is typically a slow month for rideshare driving, which means resorting to meeting income guarantees and promotions from transportation network companies (TNCs) to supplement income.  I’m closing in on a year of rideshare driving in NYC, and two years of rideshare driving in general.  So with the lull in demand, let’s examine which location is more profitable: driving in NYC or in New Jersey?

To determine which geographical location is more profitable, driving in NYC or in NJ, I’ve dug up all of my past income statements beginning from day one.  The data were pretty interesting when I averaged the weekly income payouts for each month.  I wanted to know not just which months were the best for me, but whether getting a TLC license has been beneficial or not.  So I averaged each weekly payout per month in NJ and NYC, and found that there was a substantial income boost after transitioning into the NYC market.  Check out the graph below:

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