Why drive for the co-op?
As a co-op driver you own the company you drive for. You keep more of your fare - Co-op Ride’s commission is only 15%! - and as soon as the co-op is profitable, those profits are shared with you based on the amount of patronage points you earn. “Patronage” is the cooperative economics term for “dividends.” It means profit-sharing.
What are patronage points?
Patronage points translate to a portion of the net profit that The Drivers Cooperative makes returned to you, the owner.
Who is eligible?
All co-op drivers are eligible once they start taking trips on the app and receive their membership share. Riders are not eligible for patronage points.
How can I get patronage points?
A member can earn patronage points by taking trips, recruiting riders & drivers, and attending meetings.
When do I get paid and how much?
Your hard work growing the co-op gets you the patronage points as outlined above. Those patronage points will pay out as soon as The Drivers Cooperative starts to turn a profit. We anticipate that will happen in 1-3 years. You will be paid a percentage of the profit depending on the amount of patronage points you earn.
What will influence the potential amount of my patronage points?
Your dividend is related to how much time and energy you invest in the co-op, how successful we are as a business, and the expenses we face in a given year. The more successful we are and the more you contribute to that success, the more you could earn!
FAQs
What is a cooperative?
A cooperative is an organization that is owned and controlled by its workers or members, not by investors or private individuals. A cooperative distributes benefits to its members on the basis of use or investment of their labor. Those benefits are called patronage.
Is a co-op a non-profit?
A cooperative is not a non-profit. Instead, its mission is to generate profit and subsequently share that profit with its members who created the profit.