3 Turo Secrets to Make Your First $100,000

Summary

Aubry Janik, owner of a 27-car sharing fleet, reveals three secrets to maximizing earnings on Turo, emphasizing the importance of high utilization. She advises on strategic pricing, 24/7 availability with smart calendar blocking, and optimizing host settings for a seamless guest experience. Janik's insights, drawn from her success, highlight the need for active management and the potential for substantial income in car sharing.

Takeaways

• 🚗 Utilization is a crucial factor for making money on Turo, and maintaining a high utilization rate is essential for success.
• 📈 Aubry Janik, the speaker, owns a 27-car fleet with 100% paid-off economy vehicles, which generates six figures annually through Turo.
• 📚 Aubry offers a course called 'Car Sharing Masterclass' that teaches the business model for starting and scaling a car-sharing fleet similar to his own.
• 🔑 Three key secrets to high utilization on Turo are pricing, availability, and settings, which are within the host's control.
• 💰 Pricing must be actively managed, with adjustments made based on market demand and day-to-day fluctuations.
• 🗓️ 24/7 availability is recommended, with remote key exchanges and instant booking options to maximize flexibility and bookings.
• 🛠️ Active management of the calendar is important to prevent late-night bookings when cars are not ready, using calendar blocks strategically.
• 🏆 High utilization leads to a snowball effect, where more bookings lead to better rankings on Turo's algorithm, resulting in even more bookings.
• 📸 Good quality photos and warm, welcoming descriptions in vehicle listings can significantly impact the attractiveness of the car to potential renters.
• 👤 A well-crafted host profile that is relatable and informative can help in building trust and rapport with guests, leading to more bookings.
• 🚫 Avoid using the host profile to showcase unrelated accomplishments; focus on the value the car can provide to the guests.
• 💼 Maintaining a work-life balance is possible even with 24/7 availability, by strategically managing the calendar and host settings.

Q & A

What are the three secrets Aubry Janik discusses to make the first $100,000 on Turo?

The three secrets discussed by Aubry Janik to make the first $100,000 on Turo are focusing on price, availability, and settings to maintain high utilization of the cars listed on the platform.

What is 'utilization' in the context of car sharing on Turo?

Utilization refers to the rate at which a car is booked out. An 80 percent utilization rate means the car is rented out about 80 percent of the time.

Why is maintaining a high utilization rate important for making money on Turo?

Maintaining a high utilization rate is important because it ensures that the cars are rented out more frequently, which directly correlates with higher earnings from the car sharing platform.

What does Aubry Janik suggest doing if a car isn't getting rented out?

Aubry Janik suggests adjusting the price of the car, decreasing it by a few dollars if it has been sitting for too long without bookings.

What is the significance of pricing in relation to car rentals on Turo?

Pricing is significant because it can greatly affect the desirability of a car listing. If the price is too high, potential renters may choose other options, leading to lower utilization.

How does Aubry Janik manage the pricing of her cars on Turo?

Aubry Janik actively manages the pricing of her cars by adjusting them based on market demand, day of the week, season, and weather, ensuring that her cars are competitively priced for rentals.

What are some of the availability settings Aubry Janik recommends for maintaining high utilization?

Aubry Janik recommends having 24/7 availability, enabling instant booking, setting a one-hour advance notice, and using a three-hour trip buffer time, which are the minimum requirements on Turo.

Why does Aubry Janik emphasize the importance of not snoozing a vehicle on Turo?

Snoozing a vehicle removes it from search results, preventing guests from booking it at all, which can hinder utilization. Instead, she prefers using calendar blocks to manage availability more precisely.

How does Aubry Janik handle the balance between maintaining 24/7 availability and having a normal work-life balance?

Aubry Janik maintains 24/7 availability by using remote key exchanges and calendar blocks to manage when cars are not ready for rentals. This allows her to have a regular work schedule without being on call all the time.

What advice does Aubry Janik give regarding the host profile and settings on Turo?

Aubry Janik advises to have a well-filled-out host profile with clear photos, a warm and welcoming vehicle description, and to set host availability to 24/7 to maximize bookings. She also emphasizes the importance of being authentic and relatable in the profile.

What is the 'Car Sharing Masterclass' Aubry Janik mentions, and what does it teach?

The 'Car Sharing Masterclass' is a course Aubry Janik offers that teaches individuals how to start and scale a car sharing fleet using the same business model she uses with her own fleet. It covers topics like choosing the right cars, maintaining vehicles, communicating with guests, and streamlining operations.