Stephen Alvarez, a 26-year-old former dental supply company employee, found his passion for cars and a lucrative side hustle in 2018 when he discovered Turo, a car rental platform that allows customers to rent vehicles from local hosts. Intrigued by an Instagram ad featuring a successful Turo host in Canada, Alvarez decided to list his own cars on the platform and quickly fell in love with the concept.
With his father’s teachings about investing in oneself in mind, Alvarez saw an opportunity when his boss at the dental supply company wanted to sell his car before moving to Israel. Instead of purchasing the car outright, Alvarez proposed putting it on Turo and managing the listing for a percentage of the earnings. This move proved successful, leading to word-of-mouth referrals and the growth of Alvarez’s fleet to 240 cars.
Alvarez’s side hustle earnings soared, reaching $170,000 monthly by the end of 2023. He attributes his success to managing his own cars as well as co-hosting vehicles for others. Eventually, 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 are now 50/50 partners as Alvarez continues to manage the team and grow the business.
According to Alvarez, anyone can succeed in a similar venture with dedication and attention to detail. Communication is key, as being responsive to customers and staying on top of operations are crucial for success. Alvarez emphasizes the importance of logistics and customer service in running a successful car rental business.
In a personal experience with Turo, the author highlights the seamless and convenient nature of the platform compared to traditional rental car companies. With Turo, customers can choose their vehicle, avoid waiting in line, and enjoy additional perks like prepaid refueling and unlimited mileage. The author’s positive experience with Turo underscores the platform’s user-friendly approach to car rentals.
Overall, Alvarez’s journey from a dental supply company employee to a successful Turo host and business owner showcases the potential for growth and success in the sharing economy. His story serves as inspiration for aspiring entrepreneurs looking to capitalize on emerging opportunities in the market.
