Stephen Alvarez, a 26-year-old former dental supply company employee, found his passion for cars through a unique side hustle opportunity with Turo, a car rental company that allows customers to rent vehicles from local hosts. In 2018, Alvarez stumbled upon an Instagram ad featuring a successful Turo host in Canada who started by renting out his Hyundai Elantra and eventually upgraded to a Porsche Panamera. Intrigued by the concept, Alvarez decided to list his own cars on the platform.
Having been taught by his father the importance of investing in oneself and seizing good opportunities, Alvarez saw potential in leveraging Turo as a source of income. When his boss at the dental supply company decided to sell his car before moving to Israel, Alvarez proposed managing the listing on Turo for a percentage of the earnings instead. This initial business move proved successful, leading to word-of-mouth referrals and the co-hosting of additional vehicles on the platform.
Alvarez’s fleet grew to 240 cars, and his earnings followed suit. By 2023, he was making $170,000 monthly with about 150 cars active at a given time. The next significant opportunity came when a customer who had rented from Alvarez multiple times expressed interest in acquiring the business. Alvarez sold him a stake in the company, and they became 50/50 partners, with Alvarez continuing to manage the team and grow the business.
According to Alvarez, anyone can succeed in a similar venture with dedication and attention to detail. Managing the logistics of the operation, such as turning around vehicles promptly for the next customer, and prioritizing communication with clients are crucial aspects of running a successful car rental business.
In a personal experience with Turo as a customer, the seamless rental process stood out. By selecting a vehicle based on personal preferences and arranging for convenient pickup or drop-off locations, customers can avoid the hassles often associated with traditional rental car companies. The ability to unlock the car and access keys through the Turo app further streamlines the experience, making it a preferred choice for many.
Overall, Alvarez’s journey from a dental supply company employee to a successful Turo host exemplifies the potential for individuals to turn their passion for cars into a lucrative side hustle. With the right mindset, dedication, and attention to detail, anyone can follow in Alvarez’s footsteps and build a thriving business in the car rental industry.
