Bolt Driver Salary
Today I want to show you my Bolt income report from this year.
I know and understand you’re curious if Bolt is still a great investment, you will decide in the end. I want to show you the real numbers – with an income statement proof from Bolt.
Without wasting your time, let’s dive right in.
First, let’s look at my income since this year, then later break it down to show the income from Bolt you’d take home, after expenses.
Below are a few screenshots from my tax report (Jan – Mar 2023) and below, you’ll find a complete table of my earnings in 2023.
January Income Report:
February Income Report:
February Income Report:
The Income Report Breakdown
Yes, there are some big monies made in the months of February and March 2023 but let’s break down the fee associated with making such income with Bolt.
|Take Home Income
|Total income: R8,017.00
Booking fees: R317,73
Bolt Commissions: R1,809.33
Total Deductions: R2,127.06
|Total income: R15,452.00
Booking fees: R602.67
Bolt Commissions: R3,460.85
Total Deductions: R4,063.52
|Total income: R16,448.00
Booking fees: R630.90
Bolt Commissions: R3,686.93
Total Deductions: R4,317.83
So this year, I have made a total of R29,408.92 with my Bolt business.
For every trip you make, Bolt charges you a booking fee plus 20% commission, as indicated by deductions in the calculations above.
This is really good money for Bolt car owners if you’ll be driving your vehicle however if not, there will be more deductions and expenses to be discussed below.
Bolt Driver Expenses
From your total take-home Bolt driver income, there will be several compulsory expenses that’ll need your immediate attention.
Common expenses for running a Bolt business include:
- Fuel (Petrol/Diesel): Min. R850
- Mobile Internet Data: R479
- Car tracker: R290
- Business Insurance (optional): R3,100
- Car service (Every 3 Months): R3,500
- Annual double-disc (operator card) renewal
Your car will be on the road the whole day and it’s bound to receive traffic fines, mostly speed cameras, which will add up to your monthly operator expenses you’ll have to face.
So take the above calculated take-home salaries and start working out the real numbers by subtracting the above-listed expenses.
Bolt South Africa Pricing
As of 18 March 2022, Bolt South Africa has increased their pricing component that’s affected by petrol increases and market dynamics.
This means drivers will earn equally more than previous years because Bolt put their interest first balancing with the need of customers.
Below is the updated pricing for Bolt South Africa, for all categories.
How to Make Money with Bolt
It’s a type of business that brings convenience to the South African transport market. People request rides to a destination for a fee – like the taxis, the only difference is convenience.
Bolt gives drivers ride opportunities based on customer and activity ratings. If your customer ratings are low, Bolt will limit rides your way.
Most importantly, your activity score needs to be at the highest, meaning taking all trips Bolt offers you. Here, you’ll also need a strategy that’s going to assist you to become efficient with your expenses.
One other way to make money is with Bolt promotions. Bolt will offer a promotion for a single day, to take a number of trips and earn a fixed amount.
When Do Drivers Get Paid?
Bolt pays – releases funds to – drivers once per week, every Monday morning. You’ll get both your weekly income and bonuses from promotions.
The money will reach your banking account on Tuesday, depending on who you bank with.
For owners, your Bolt business is a great idea for passive income to build long-term wealth.
Bolt Peak Hours
To make much with Bolt trips, you need to take advantage of peak hours opportunities when the roads are too busy.
The best time to make enough earnings is very early in the morning, from 5:30 to 10:00. This is the time people move to work and shopping malls.
Another obvious peak hour to target is when people knock off from work, 16:00 to 20:00.
Lastly, evenings on weekends are the best times to make money with Bolt in South Africa. But that was before the pandemic and curfews.
How Many Passengers Does Bolt Take?
Bolt app in South Africa allows drivers to take in full capacity of the vehicle for every ride they make. The number of passengers the driver takes must be in accordance with the vehicle disc allowances.
No driver should say otherwise – it’s within the terms of using the Bolt app to make money.
So in short, Bolt takes a maximum of 4 passengers per vehicle in South Africa for Go, Base, Women, Comfort, and Premium categories.
Is Bolt A Good Investment?
Well, the answer to this question really depends on the state of your finances and set financial goals.
Let me ask you this quickly if you were to earn a residual income over R7,500 every month, would it make any difference in your financial life?
Bolt is a profitable business for people who own cars and take the opportunity very seriously. A lot use the opportunity for passive income in South Africa.
There are costs for operating a Bolt business in the country as discussed above, when deciding on joining them, please consider the expenses too.
We don’t want to influence your decision, so the only advice we can offer you is to thoroughly look at your finances and find the opportunity where the Bolt business will fit into.
Otherwise, it is one of the best financial vehicles that helped thousands of people reach the financial freedom status they’ve always wanted.