It is a simple and easy business opportunity, all someone would need is a valid drivers license. There is very little upfront capital requirements to begin a ride-sharing franchise.
The average trip as an Uber driver is about $15.00 (the passenger pays) the driver then keeps about 80% of the fare. That would be approximately $12.00. At $12.00 per trip and if the driver completes 10 trips in one day the driver would have earned $120.00. If the driver works six days per week the driver would earn $720 each week.
The set up of the Uber and Lyft operations is unique but if someone is employed as a 1099 contractor which is a sole proprietor for taxation purposes then the driver may pay approximately 30% in tax, after certain business deductions. If someone was going to perform this work full time then why not set-up a Nevada corporation or LLC and become taxed at a corporation tax rate. Currently the corporation tax rate is 15% after the appropriate business deductions.
Driving for Uber or Lyft does require a certain type of insurance policy. To begin your personal auto insurance policy may no longer be valid, check with your local agent. When you begin using your personal vehicle for commercial purposes your vehicle then qualifies as a commercial vehicle. Commercial insurance policies is broad in coverage, and provide coverage for things like livery. Livery is the term used to describe vehicles used to transport passengers.
Currently in Nevada there are not many options for livery insurance coverage, because the risk is to great. The insurance carries who does provide this coverage is insurance carriers like Allstate and Farmers.