Careem has caught the eyes of most Pakistani investors looking for opportunities. Careem is chauffeur-driven vehicle booking service that offers a medium of commuting. With a longe range of vehicle from Rickshaw’s to newly launched Toyotacars, the startup has grown quickly.
Recently, Careem fired its captain over involved in fraudulent activities to maintain its integrity.
How to invest a car in Careem?
First of all, you should have a car, smart phone and a driver. In order to invest a car in Careem, your car must qualify their terms and condition. After that you can attend their drivers session to know the details. Just follow the simple three step method you join Careem.
There are three ways to earn from Careem:
1.Drive with Careem without a Car
2.Drive with Careem with our own Car
3.Join us as a supplier
Document Requirement for Careem
1.Computerized National Identity Card(CNIC)
3.Proof of vehicle registration or bank authority letter and excise document if the car is leased
4.Photograph with white background
5.IBAN number (Printed on cheque or official Account information statement-Manually written IBAN will not be accepted)
6.Two recent utility bills of current address
7.Car insurance is must
Learn How much you can earn?
You can earn around PKR 100,000-110,000 by meeting the minimum targets on Careem, average 105,000rs for 10 rides daily,30 days a month.This is your Revenue. Tax is also deducted here because this is your income.
Fair Estimation of earnings:
Revenue = PKR 105,000
Tax = PKR 3050
Gross Income= 101,950
Now lets take a look at your costs. The costs include driver’s salary if you have one, plus the fuel, maintenance, depreciation and insurance costs.
Fair estimation of all costs:
Driver = PKR 25,000
Fuel = PKR 33,000(Average assumed to be 12km per litre, 6000KM monthly)
Maintanence = PKR 5000
Depreciation = PKR 6500
Insurance Charges = PKR 5000
Total Costs = PKR 69,500
So now take a look of the net profit after taking the costs.
Net Profit = Gross Income – Costs
Net Profit = 101,950-69,500 = PKR 27, 450
So PKR 27, 450 is the total take home money.
You can also confirm with Careem built-in calculator.
Disclaimer: The is based upon fair estimation. This may be an overstatement or an understatement of figures.