If I Started a Turo Business in 2024, I'd Do This

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The BIGGEST Mistake I Made Scaling My 25-Car Turo Fleet
🚗 Learn How I Turned Car Sharing Into a Six-Figure Semi-Passive Revenue Stream: www.thecarsharingmasterclass....
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00:00 - Intro
What's up, you guys! In today's video, I will explain what I would do if I was starting a car-sharing business today.
01:22 - New Studio
01:48 - Rent Out Your Personal Car
03:18 - Set up an LLC
04:47 - Don't Cheap Out With the Important Stuff
06:54 - Roth IRA
09:08 - Listing Settings
11:23 - Pricing
13:09 - Cheap, Reliable and Economical Cars
14:15 - Timing of Buying Cars
15:56 - Closing
I hope you guys enjoyed this video; make sure to hit the like, subscribe, and the notification bell, and I will see you guys in the next video.
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/ aubrey.janik
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Disclaimer:
I am not a CPA, attorney, lender, or financial advisor. The content in these videos should not be construed as tax, legal, or financial advice...etc, and may be outdated or inaccurate; it is your responsibility to verify all information yourself. This is a RU-vid video for entertainment purposes ONLY. IF stocks or companies are mentioned, Aubrey may have an ownership interest in them - Please do not make buying or selling decisions based on Aubrey’s videos. If you need advice, please contact a qualified professional.
#Turo #SideHustle #NewBusiness

Опубликовано:

1 июл 2024

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Комментарии : 182

@DAVIDSMITH-kj8di 8 месяцев назад

It's been my experience as an entrepreneur that customers who are overly concerned with getting the cheapest price that they can get are not generally desirable customers.

@Festerbot Год назад

I started a turo business in 2023 and have benefited greatly from Aubrey's many videos on the topic. Some particular advice/lessons that have been most helpful are: 1) Make every effort to never turn down a rental . i am using my newly purchased(March) used Honda so this often involves inconvenience but has been well worth it. I have 6 total trips but a majority of these have been extended and thus have been more lucrative. Also knowing your clientele and making every effort to make things easy for them leads to great reviews and repeat business.

@waytoodamnhard Год назад

I have three locations with a built in user base. Local area Fort Worth only. Turo gets the fees so I would not advertise the vehicles online.

@joelvigil6012 Год назад

So happy it's going well .😊

@charlestontowing4132 4 месяца назад

So you were able to cover a few months loan payments and turn a small profit?

@johndonaghy4780 Год назад

Whenever you say the word “whenever” in the video (which was a lot), you should have just said “when”. E.g. “Whenever I started my Turo business in 2017” means you tried to start it many times in 2017, versus “when I started my Turo business in 2017” means you started it just once…

@natashadickson4819 Месяц назад

I thought it was just me! I tried to pay attention to her actual advice, but this error is too distracting. "Whenever" means "each time" or "every time".

@lalabunnybunbun6372 17 дней назад

Why did you say this now I can’t unhear it

@natashadickson4819 17 дней назад

@@lalabunnybunbun6372 🌷

@joelvigil6012 Год назад

Thanks for this content and for being real about your experience in the beginning it helps alot of who wanna start avoid those financial issues and trust me 😮 I been left behind half way with stuff like you experienced I know the feeling😬 thank you have a blessed day!

@omarzahdan3826 2 месяца назад

I’ve never hosted anything on Turo but I can tell this is great advice. Appreciate the help

@victorbaird8220 Год назад

Love the new studio thanks 😊

@dianeruiz0721 Год назад

Thank you so much for a wonderful video and sharing all the knowledge you gleaned over the years. I just subscribe to your channel and look forward to seeing more of your videos. I think you explain everything wonderfully thank you again.

@dearolddad4319 Год назад

Thanks for this one as well... Appreciate your work in teaching us what to do...

@user-qe9de6lj6w 4 месяца назад

Wait for the cops with the cuffs.

@tonireed4308 Год назад

Awesome video...Thank you for sharing your knowledge!!! Well done on your Turo success Queen :)

@uberproincanada 2 дня назад

The best video I watched in youtube so far!! Thank you for sharing :)

@ulannola6729 11 месяцев назад

Great educational video! Thank you!

@MaverickGamingVideos 10 месяцев назад

Thank you so much, I’m just starting out, I’m buying 3 cars cash, and you answered so many questions I had!

@lindseydavis44 Год назад

Thank you so much for all of the amazing information!!! I’m fighting breast cancer and my current personal car lease is up in July. I’ve been mostly unable to work since last August and am highly considering starting a small Turo business while I’m going through treatment. Your videos are so informative & helpful!

@mindfulofmaya Год назад

Sending healing vibes and prayers your way ❤️❤️❤️

@johnnywest8013 10 месяцев назад

💪🏾🙏🏾

@Nintentional 5 месяцев назад

God bless you and I wish you the very best ❤

@user-qe9de6lj6w 4 месяца назад

The Bitcoin man strikes again. this is a journey to bankruptcy,nothing more. Turo is a total scam!

@GermanEspinoza1969 Год назад

Thanks for that value information

@MickeyCh00 Год назад

A brilliant tutorial, as usual.

@olitonottero7620 Год назад

super helpful thank you

@Tkdboyo82 2 месяца назад

Fantastic videos thanks so much. Great insight!

@MTravisVolker Год назад

Informative video. I agree.

@cedriccrawfordjr.8070 Месяц назад

Super helpful. Thank you!

@jayjudd6518 Год назад

Congratulations girl.

@brownbrown8668 11 месяцев назад

Very good. Awesome video

@itsjuliepotts 10 месяцев назад

Awesome video :) you must be from Texas because I noticed you kept saying “whenever” instead of “when” 😝

@troublelessone7999 2 месяца назад

wow.. this was good.. thank you

@bobscruggs8886 11 месяцев назад

Here in Florida I set up an LLC in 1 hour remotely for my kitchen business will use for Turo also, I am not computer savvy.

@DeronBlaides Месяц назад

Great advice

@routerpete1674 11 месяцев назад

Do you have an episode on insurance for fleet car? And taxes?

@mikemichellemeskel7935 10 месяцев назад

Hey Aubrey! Thanks for all that you share. Quick question: if we have the cash & found a good deal on a 2nd car to add to our fleet, would you recommend waiting until the LLC is established or go ahead and buy it while it’s a good deal?

@davidallanrose3624 11 месяцев назад

You are such a good speaker... you speak fast and clearly... love that you are all business.

@luisalberto2555 Год назад

Hi, thank you for all your videos. Can please tell the insurance company you use for your fleet. Thank you again

@fxsalcedo6729 10 месяцев назад

Hi Aubrey thanks for this great video , could you share which insurance company do you use or recommend please , Thanks !!!

@ttone2330 8 месяцев назад

Thank you very much

@paranrs Год назад

"I'm playing catchup now that I'm 29." Wow. You're still just a baby. You're going to be just fine. It's rare to find someone who thinks about retirement until they're in their 40s!

@super8mate Год назад

With her energy and smarts she'll have the option to retire in her 40s. Maybe she's pissed she missed the opportunity to do that in 30s!!

@Reverend-Race-Horsey Год назад

She looks good, but older than 29. I think she's pushing it aliitle with the 29 part. sachysamo fools

@Blakgun Год назад

@@Reverend-Race-Horsey She strikes me as someone with thick skin, which is good, because she literally stated that she's 29 in the video. Did you not see the quotation marks in the above post?

@Blakgun Год назад

@@super8mate Someone would have to be damn lucky in life to retire in their 30s after having only worked 10 years in the adult world.

@Reverend-Race-Horsey Год назад

@@super8mate She can still retire in her (late?) 30s?! 🗓

@marcbrown6084 Год назад

Thank you

@georgemichaels9616 Год назад

May be funny to say but honestly, I shoved all RU-vidrs for you to get started. My aim is to get 5 - 4 by close of 2023. Am at No. 1 and still believe I will get there.

@joelvigil6012 Год назад

I have faith in you ! 🙏🏽

@DaltonCollinson 11 месяцев назад

How many are you at now? How is it doing now?

@davontaetelar2265 Месяц назад

Update?

@owaowa_clips 11 месяцев назад

Having a hard time figuring out how to insure a personal car that can be listed on the platform. I have not found an insurance company that allows this aside from switching over to commercial insurance which then doesn’t allow you to use the car for personal use.

@markokrasinski8033 Год назад

Nice to see common sense applied to business

@adrake86 Год назад

I'm no expert but an LLC is about 100$ in my state and takes about 5 minutes to get one. VERY Easy.

@Juveyel 3 месяца назад

Easy to get one but even more important to make sure it’s set up right. I’ve seen so many people file their LLC wrong

@topochicago 2 месяца назад

@@Juveyel im sorry im new whats an LLC??

@ThinkAboutMyComment 27 дней назад

$600-800 to dissolve in California

@2thurow 25 дней назад

What state

@SoulFood4You Год назад

Thank you for your videos! you have mentioned that you use carSync analytics for research. Unfortunately they no longer offer Turo platform. Can you offer any other tool to research? I am trying to find a good City where I can start a Turo business. Thanks

@georgegordon6630 Год назад

love you, love your channel

@blacksky9320 Год назад

Love the video😊 but What about insurance 😅 please make video about insurance and should do commercial loan or personal loan?

@allenbradley2592 Год назад

Agreed!!

@DevonBagley 8 месяцев назад

I feel like every other trip at this point costs me double what the revenue was for the trip at this point. Every time I get the vehicle back with some kind of damage that I am paying out of pocket to fix.

@MrPjcrews Год назад

29 isn't bad. Yes, the time can't be made up but you will still live well if you keep investing. Also Retirement isn't what it's made out to be. I just retired a couple months ago @ age 52. Yes... it's nice to sleep in and be a lazy sloth but after 2 months, it's not for me. This is how I came to watch you. Turo is something I will do. I will also get into RV rental too and Airbnb. I will see which one I like the most and run with it Good Luck to you and I am happy to see a smart young lady like you are married. Don't forget to invest more time with your family over any business. If I had a glass of wine in my hand, I'd say, "Here's to your success and your future "

@joelvigil6012 Год назад

Thats really good RV rental ? That sounds like a great success idea .😁

@Night_keen Год назад

I tend to think that cheap and economical cars are more liability prone to serious shady or abusive renters.

@republicandan Год назад

I think she's right on economy cars. Most of those renters are likely looking for an A to B car to take care of something that came up. I'd be more worried about listing a nicer / faster car on the market. I know if I rented a Corvette, first thing I would do is test the 0 to 100 time. In a Chevy Cruze, not so much 😊

@Reverend-Race-Horsey Год назад

@@republicandan I'd do it in a Cruze too. Hell I do it in my 12 sec Mirage 🕒

@michaelsuzio4268 11 месяцев назад

I speed tested a Kia Sportage a couple weeks ago 0 to 90 In 14 seconds

@flnteenof3793 5 месяцев назад

Thank for the great video!! A quick question, if I put my personal car in Turo, do I have to also keep my personal insurance, or would it be enough to only keep the insurance that Turo offer? Also is the insurance that Turo offer good enough? Thanks.

@SebastianTobiasz Год назад

Hey I'm sorry for asking this question that I should have been able to find on Google. But i couldn't. How much rust can a vehicle have if you want to rent it on Turo? In Canada vehicle has to be less than 12 years old, less than 200,000 km and pass our local legal laws to make it safe on roads. But when I look for most affordable cars that meet those requirements, a lot of them have rust. So I'm wondering how much rust is acceptable?

@Wire-Free Год назад

set up plenty of llc... keep them generic. ie. holdings or enterpises. theyre not too expensive and that helps with establishing biz credit, etc! if you hate car sharing, next

@julioverne2001 Год назад

Hello,can I use my car to host in Turo with the temporary license plate? I just bought my car trough the dealership.

@EY-dn6sf Год назад

What do you think of buying cars from Enterprise/Hertz for Turo? Thanks

@HoangHahalehoang Месяц назад

very informative. Could you share how much time you have to spend on this business when started (1st year) and now with 30 cars. Would it consume all of your time 24x7? How do you manage it when you go on vacation? Thanks for sharing.

@JustifiedVentures 11 месяцев назад

In regards to the ford. If you buy a 2011 prior to december does that mean it will still be able to used in 2024?

@biancahardison Год назад

What's your recommendation on accountant..around Dallas?

@cybergrindin 5 месяцев назад

Best insurance for Turo? Full coverage? How much should I buy an economy car for? Under 10k?

@user-ds2nn6me2n Год назад

i liked your video

@timeismoney756 5 месяцев назад

What about car insurance can you list 5 vehicles on a normal policy without an llc or do the cars even need insurance since Turo provides it

@DD2DL 10 месяцев назад

I'd like to talk with you about setting up a Turo business but you master class link isn't working

@lilsaid2k 11 месяцев назад

I have the money and credit to go get a lambo as my first car but what do you think? should I get that as my first car to rent or no? why or why not? please if you see this let me know because I really need the advice and help right now because I want to start my rental company and expand on it quick but don't know where to start.

@DdotxSdot 11 месяцев назад

Any accountant recommendations for the LA area?

@siglandoe3913 11 месяцев назад

I have an llc for real estate. I’m thinking the llc needs to be different for a Turo business.

@neddoh4300 3 месяца назад

When you had 5-6 cars, where did you keep your cars?

@williamnichols9198 2 месяца назад

Was thinking of putting my 2021 corvette stingray on turo...have any thoughts?

@ralphnoel6642 9 месяцев назад

What are some of the barriers we should remove

@DDbyVV Год назад

How has the recent loss of CarSync changed your business?

@OnceUponATimeWithHolly 10 месяцев назад

Which Toro platform did you use?

@user-cg7jp7jt4v 15 часов назад

Who do you use for your roth

@constantinedixon2777 Год назад

What CPA/accountant do you use?

@paul528i 4 месяца назад

What does setting up a Roth IRA have anything to do with starting a Turo business?

@jeremyhefton2542 8 месяцев назад

Thanks for the information! After binging on several of your videos Monday, I changed my host settings as you suggested yesterday. You see, I was offering free delivery to our local airport which would have been fine except my availability is limited as I work a full time job. My wife would help pick me up or drop me off so I can pick up the car but she’s a full time student AND full time teacher! I have an llc already as I actually am diversifying from an RV rental business and adding the Turo car. I am still concerned about getting bookings in my small town with no delivery options but my car will save me lots of commute money if it doesn’t rent so I still win. Thanks again!

@evalina98000 Год назад

👍🏽 Agree wit rent personal 🚗 & get a beater & "penny wise, pound foolish" lessons. 5 cars n a year, easy 2 rent wit no parameters may not be feasible while working a full time job, 7-3, M-F 🙃

@super8mate Год назад

It's like you need to make a deal with your boss to work odd hours for a few months while you rent cheap and bag 5 star reviews then add parameters. Idk

@anthonyjackson8857 11 месяцев назад

Damn.. im about to be 40 and just now starting turo and no retirement... am i doomed from the start? 😬

@dersyshore 20 дней назад

Where do you park the cars?

@sandymoreno2678 10 месяцев назад

Where do you park your cars ?

@jddarby007 9 месяцев назад

Where do you park so many cars?

@andrescotes3141 Год назад

Where do you park all your cars? How do you rent out your cars remotely? I’m in Miami and I’ve been thinking and watching videos about this for a very long time but I haven’t done it yet. Your videos are definitely motivating me to give it a shot

@manilli_ 11 месяцев назад

I'm wondering about the remote access too. Like Zipcar you can remotely access the car so is there a solution for personal vehicles too. Having to be around to hand over a key and collect keys makes it harder as a side hustle.

@abbadinoufal3465 11 месяцев назад

@@manilli_ turo device

@_doitafraid_ 9 месяцев назад

When I was in Denver and rented a car through Turo, the host had the key locked in a lock box that was sitting on top of one of the tires. The code was sent to me shortly before my rental started. I kept the lockbox in the car during the rental and then the key was placed in the lockbox when finished. Seems like it could be a practical way to do it.

@paulki3406 6 месяцев назад

What is your yearly income if I may ask like ballpark?

@dran908 Год назад

Do you get to a certain mileage then sell the car to maintain a newer fleet? Almost every car is a depreciating asset so buying cheap must be key. If I buy a car for 20k, Turo it for a year, but sell it for 10k, did I even turn a profit? Love the videos! Cheers

@Balanced-- Год назад

There is zero chance your car will depreciate a further 50% from when you buy it in 1 year.

@manilli_ 11 месяцев назад

She points out that you buy a car at an age at it's lower depreciation curve.

@DavidBeatypersonal Год назад

Which accounting firm do you use?

@revaddict Год назад

I want to start Turo this year but I do not own a car but on the flip side I have no current payment.. Plus I don't need a car so hoping to start with used cars by saving money (my current as savings are stuck in stocks)..

@NagaraniRasiah Год назад

Thank you so much for your information dear How to I regeneration my car in Turo business please send me the link

@reynoso2011 10 месяцев назад

Where do you buy your cars?

@oliviamace6467 3 месяца назад

Should you make your Turo profile under your LLC ?

@luisaguilar4036 3 месяца назад

Does turo require insurance personal insurance or I have to get commercial?

@agustinestrada5283 Месяц назад

Hello I'm New to turo and i would like to rent a car. Who pays for the insurance during the rental? Me or the person who owns the vehicle?

@smashit002 2 месяца назад

Hi Aubrey, I have a fully paid off 2016 car. Instead of trading it in to buy a new car which may get me 7-8k, i was thinking to rent it out on Turo. However, I do not stay near the airport and but in a proper residential location. I cannot deliver so how would i get customers? Do they have to come to my home and if so how will they comnute till my home? Should i choose a closest parking place like a grocery store to be anonymous? I am very confused how to begin. I have always rented on Turo myself when i am going out of State. So not being close to airport haunts me to start this and not able to imagine what other demographic of customers are looking to rent. Also, how much does Turo take away and do I have to buy insurance as a host as well? Is it possible to give my car ro someone that can run this for me for a cut and the car will be mine? Are there middle players in this side hustle that maintain fleet of cars like you and wouldnt mind another car coming into their fleet? Any tips/advise will be great !

@sivapadman Год назад

are there people managing car fleet ?

@amiimbrogno7600 Год назад

When you set up the LLC, were you still only renting your personal car or had you added others? Did you transfer your personal car to the LLC at some point?

@AltoTheGod 11 месяцев назад

Moderately unrelated- I have a business (before Turo) and I never put the car under mt biz name, it mainly matters that the insurance covers it properly, commercial auto. My accountant mentioned I don’t stand to benefit from transferring ownership

@iamOAKland 8 месяцев назад

@@AltoTheGodI’m pretty sure you put it under business name for liability

@ilovesundays10 3 месяца назад

Why would one need multiple LLCs?

@darrendancemusic1500 17 дней назад

What is “LLC”? 😮

@TheOnlyZiTRO 3 месяца назад

RIP left ear

@opossum632 Год назад

Where do you buy cheap below market value cars in 2023?

@waytoodamnhard Год назад

CARGUY TX here. Can you place a Turo car at a dedicated location? By that I'm thinking about leaving a vehicle at a business location 24/7. The business has a built in customer base for the vehicles.

@RealizniguhNit 11 месяцев назад

You talked as if 29 was 39 in referring to your early 20s. Everyone is different, but typically at your age If your making 6 figures you should be aggressively diversifying and taking more risks to build wealth quicker so u can live off the interest when your older vs worrying about a couple more bucks in a IRA. Take that money and get into developing real estate multifamily units, leap year stock options and build some real generational wealth. Your probably making more on YT than Turo now..

@Camtheceo365 Год назад

what is a dollar amount in profits to strive for each month? I'm looking to finance a car and Idk if it makes sense to get a car if it only makes me an extra $200 a month. interest is high and so is my car insurance bc I'm 20. what should I do?

@Ethan-xy7td Год назад

I’d say aim for at least 100% ROI on your monthly payments. If your payments are $300 a month aim for at least $300 profit .

@paranrs Год назад

If it's at all possible, buy a car with cash. Interest rates now are a killer.

@republicandan Год назад

Do the math with realistic, if not conservative, financials. Your car payment and repairs are just one side of the coin. Don't forget depreciation and tax asset/liability. And after you run your numbers, determine if it would be worth your time and allocation of resources to move forward.

@Reverend-Race-Horsey Год назад

$550+ month/car after ALL Fees + mechanicals!

@topochicago 2 месяца назад

whats a LLC ??

@zumezoom9593 10 месяцев назад

You're in the states? Cars in Canada are so much more expensive than US. I can't wrap my head around how people can own a dozen or more vehicles?

@sam10818 Год назад

For LLC, are you hiring someone for registered agent? I'm confused like for Turo business should we hire some outside services for registered agent

@joelvigil6012 Год назад

That's a good question 🤔

@deathnsd6953 Год назад

you can be your own R agent.....at least in Fl you can

@Newkom100 3 месяца назад

Are you in CA? Why did you not use a lawyer to do the LLC?

@u2fkeys665 Год назад

You should talk about other financial stuff not just turo

@terrancejelks6939 Год назад

Do you offer mentorship?

@republicandan Год назад

She has a turo master class program. She's mentioned it in her videos on occasion. It's likely a wise investment ( and tax deductible if you move forward with building a turo empire )

@BashirMuhammad 2 месяца назад

i want to start a rental business with you as a partner

@shawn7171 11 месяцев назад

Under cutting is destroying the market turo has not focused on controlling price floors vehicle classes are colliding turning into Uber at this point

@ATDUB-ty9nc 7 месяцев назад

You had me until you said set up a Roth IRA. Set up an IUL instead. Tax free withdrawals. Liquidity. No 59 and a half rule. You never lose money in this type of account. No contribution limits. Has a death benefit for your loved ones

@musicengineer08 Месяц назад

What’s a IUL

@2thurow 25 дней назад

Any references to any of this

@ATDUB-ty9nc 25 дней назад

Index Universal Life insurance. Only about 6 companies offer these products. Reason why you haven’t heard of it because there are laws that prevent certain advertising of these products and the companies don’t make as much money from them. I happen to have the ability to work with all 6 to help people obtain them