By 2021, Stephen Alvarez, now 26, was working at a dental supply company and nurturing his passion for cars in his spare time; he owned several vehicles and I drove for Uber to supplement his income. Yet another profitable side hustle caught his eye in 2018 – Teachingcar rental company that allows customers to rent vehicles from local hosts.
Image Credit: Courtesy of Turo. Stephen Alvarez.
Alvarez saw one Instagram ad featuring a successful Turo host in Canada. The man, in his early 20s, started by leasing a Hyundai Elantra on the platform and within just a few months, he was able to upgrade to a Porsche Panamera and repeat the process. Alvarez immediately “fell in love with the Turo concept” and listed his cars on the platform.
Alvarez's father had always taught him the importance of investing in yourself and seizing good opportunities. So when his boss at the dental supply company told him he was moving to Israel and wanted to sell his car since he would only be visiting the U.S. every two months, Alvarez suggested an alternative: He could put the car in Turo. and manage the list for a percentage of the profits.
“I grew my fleet by having my own cars…and then other people's cars.”
Alvarez's boss agreed, and once this business move proved successful, word of mouth referrals followed. Before long, Alvarez co-hosted additional vehicles on the platform. “I grew my large fleet by having my own cars, cars with my name on them, and then other people's cars, basically (as a) co-host,” Alvarez explains. “That's how I grew the company a lot.”
Alvarez built his fleet up to 240 cars – and his own side hustle the income increased with it. In 2022, Alvarez averages $85,000 to $90,000 per month, including reimbursements. That rose to $120,000 a month in 2023 and $170,000 a month by the end of that year, with about 150 cars active at any given time, Alvarez says.
Then, the next big opportunity came. A client who had rented from Alvarez 10 times wanted to take over the business. Alvarez ended up selling him a stake in the company, and the two are 50/50 partners today, while Alvarez continues to manage the team AND increase business.
“Anyone can do it” if they're willing to put in the time and effort, according to Alvarez. You just have to pay attention to the logistics of the operation – it can take a significant amount of time to turn a vehicle around so it's ready for the next customer – and go above and beyond with COMMUNICATION. “Communication is one of the main things,” emphasizes Alvarez. “You have to be very responsive to your customers (and) be on top of everything.”
Trying out Turo as a customer
In June, I had the opportunity to try out Turo from a consumer perspective. My husband and I were on our way to a wedding in Chatham, Massachusetts, and how New York City residents without our own car, we had to rent one to get there.
We've used traditional car rental companies to get out of town in the past – with mixed results. Although they got us from point A to point B, sometimes the vehicles we got were very different from the ones we booked and waiting in a significant queue at the start or end of a long journey was also not ideal.
We were excited to test Turo because it eliminates both problems.
You know which vehicle you are getting because you are the one who will choose it. You can filter options by vehicle type, price, host rating and more to find the car that suits your needs and take advantage of additional benefits, including prepaid fuel and unlimited mileage.
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What's more, you skip waiting in line altogether. The host will drop off the vehicle at your residence for an additional fee, or you can arrange pickup at an airport or other area. You can unlock the car with the Turo app and access the keys in the glove compartment.
We approached the vehicle without issue, shot the recommended exterior and interior photos, and left. Then, after completing our ride, we parked the car next to our building (although parking wasn't available directly in front, the vehicle has a tracker that allows the host to see the drop-off location), put the keys back in the glove compartment, and reactivated the car via the application.
It was probably more no seams Best car rental experience we've ever had, and we would definitely use Turo again.
Turo has provided credit before this coverage.
