How Much Do Bolt Car Owners Make in South Africa
Bolt Car Owner Income
While Bolt claims drivers who work hard can earn up to R8,000.00 per week. Though our findings indicate only a small percentage of drivers are able to reach such revenue per week, especially after Bolt is now flooded with thousands of cars on the road.
On average, the Bolt driver's income ranges between R6500 up to R7200, depending on the times/week of the month.
So how much a car owner makes with Bolt depends on the agreement they have with the driver.
And there are different approaches to this:
- Request what it's called 'check-in' in the taxi industry
- An amount is set to be checked in per week, regardless of how much the driver makes.
- It can be a percentage or just a fixed amount, often a minimum of R1,500.00.
- Go 50/50 with the driver including:
- Vehicle maintenance;
- And traffic fines.
Let's do some calculations assuming the driver made R7,200.00 that week.
Bolt will take their booking fees and 20% commissions. So the take-home salary will be about R5,850.00, really good money to be made per week - right?
The driver will deduct petrol fees from the total income and you'll be left with R4,350.00 in the bank.
Because usually when the driver makes close to R8,000.00 per week, they would have taken a lot of trips, mostly longer trips that pay higher. Meaning they'll use more money on petrol as well.
Finally, the Bolt car owner earnings can be calculated from the amount left, which could basically be about R2,500.00 per week.
So in a month, the car owner could potentially make over R10,000.00.
It's a nice income, only if the car is fully paid for.
It gets even better.
The above calculations are based on having another driver doing the job for you. You'll be earning passive income while still permanently employed at your company.
If you were to focus on driving with Bolt, you could potentially make over R17,400.00 per month.
What are the Costs for Operating in Bolt?
For car owners, there's more to Bolt than making money in South Africa.
There are insurances, vehicle disc renewals, petrol and traffic fines. If the car is still financed by the bank, an installment is another cost of operating your vehicle in Bolt.
Not forgetting regular car service/maintenance to keep it in good condition always, as it's working with people and customer service.
Is Bolt a Good Investment for Owners?
Basically, with the information provided above, the choice is the owner's to decide whether it'll be good to invest in the Bolt business.
We would recommend using the Bolt business as a short-term investment or financial vehicle for your future goals.
If you're really good with money and can save, this could be a really great investment as the vehicle gets older on the road.