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Car-Sharing vs Car Rental: Why Do People Choose Car Sharing? I provide the car and then we split all the revenue 70/30. They provide me with all the benefits listed above. 👉 For example, I currently list all my cars on the platform Turo. In exchange for all of these features, you pay a portion of your earnings to the car sharing platform.

Ensuring your car is covered with cleaning, toll charges, tickets, gas, and other costs.

Covering your car with insurance if the car is damaged or totaled.

Vetting customers (to some extent) to ensure they are eligible to rent your car.

Connecting you to people who want to rent your car.

These platforms provide key functions that are critical in a car sharing business: The three main players are HyreCar, Getaround, and Turo. There are a handful of apps that facilitate the transactions of car-sharing. 👉 When you list your personal vehicle on a peer-to-peer car sharing platform, you allow other people to borrow that vehicle in exchange for money. This is an alternative to a traditional rental car company and gives customers other options outside of the more traditional avenues like Avis, Enterprise, or Hertz. Only, you rent out your personal vehicle (or a fleet of vehicles) on an app. Peer-to-peer car sharing is a business model along this same line.

We all know traditional rental car companies like Hertz, Avis, or Enterprise. In short, car sharing allows you to rent your personal car and make money doing it while providing insurance and security if something goes wrong. If you don’t know what Turo or Peer-to-Peer Car sharing are, let me explain. Get in touch! What is Peer-to-Peer Car Sharing? 🖐️ Do you have a gig work or side hustle story to tell? Do you have words of wisdom that might help others looking to make it in the gig economy?įind out how we can collaborate to get your story out there. Now that you know more about me, I want to take you into a deep-dive on the Turo and Peer-to-Peer car sharing marketplace, how I turned this into a six-figure business, how I got started, and – most important – how you can do the same. So, today I want to walk you through this. All of this is due to car sharing and the car sharing side hustle. I decided in January of 2019 that I would shift my focus from my lost business to growing a Turo business, and as we sit here today I have grown my Turo business into a six-figure semi-passive income stream that has helped me spin off into other businesses as well, including an online car-sharing course and a successful YouTube channel.

Both of these cars were listed full-time on Turo and, in total, were generating between $1,000-$1,500 per month. I decided to lean on Turo and direct my focus to making money with this side hustle.Īt the time, I already had my personal 2011 Jeep Wrangler listed on Turo, and I also had a cheap 2007 Toyota Yaris listed. 🚗 My Turo JourneyĪfter I lost my business in 2018, I needed to use the assets I had to generate income. That’s when I decided I would direct my focus to peer-to-peer car sharing on the platform Turo. After a few months, I decided I needed to come up with a game plan.

When I lost my business, I went through a dark period of time, feeling lost with no hope.

It was how I made my money and paid for my personal expenses. It was how I planned to make a living, to grow my career. I lost my source of income, my financial security, and my livelihood overnight.Īfter I lost my business, I was lost. In 2018 a fire in my restaurant forced me to close for good.