![]() But can hosts really make lots of money with the platform? Let’s weigh the pros and cons. With that in mind, it looks like Turo is here to stay for the foreseeable future. Image via Pixabay Can You Make Money with Turo? While other industries offer easy pitfalls for brands that want to expand, it’s hard for a straightforward car-sharing company to find things to spend frivolously on. It made its nationwide launch in 2012, so it’s been long enough to suggest that Turo’s success is no fluke.Īnd while other brands (notably ecommerce clothing brands) often fail due to irresponsible spending on growth (like quickly opening new brick-and-mortar stores), Turo likely won’t see the same issue. While some brands that experience fast growth ultimately crash and burn, Turo doesn’t seem likely to. It’s already seen more than four million users, another promising sign. Turo was founded in 2010, so it’s promising that the brand is still doing so well after nearly a decade. ![]() IAC recently invested $250 million in Turo, bringing the company’s valuation to more than $1 billion. Is the brand really making money with this business model? But in spite of its popularity, it’s not a well-known and widely-used success in the same way Airbnb is. Many users like Turo for offering something more flexible, and typically more affordable, than most car rental companies. Turo also offers insurance for car owners, which takes a significant burden off your shoulders. But if you do remote check-ins, you can save some time, though you’ll still need to go through Turo’s verification process.Īfter your guest is done with the car, you’ll retrieve it using the same process. Needless to say, meeting in person can eat up large swaths of time, making it difficult to rent out a whole fleet. Once you’ve accepted a request to book your car, you’ll either need to meet in person to hand over the keys, or do a remote check-in. ![]() Like Airbnb, listing on Turo is free, and any communication with people wanting to book your car gets done through the app. However, there are some important differences between renting out an apartment and renting out a car that could affect your ability to profit.
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