My car sharing side hustle in October earned me $1,616 after expenses.
This was slightly higher than my profit goal of $150. Review my September’s earnings blog post here.
October Earnings Summary
Overall, it was a ‘hands-off’ month. There wasn’t much turnover, cleaning or moving cars since I had one long trip accounting for 16 days.
I received this specific reservation soon after listing my Mustang when my daily price was low. I didn’t have many reviews at the time. It was bittersweet to have my Mustang on the road for such a bargain. But at least it was generating revenue…
My X5 had one rental for 3 days which earned me $231.
My expenditures were low.
I set up a new Fastrak toll account to stay better organized between Turo and personal trips.
Requesting reimbursement for tolls is currently a manual and tedious process. If anyone knows of a way to automate this please let me know. I haven’t figured out how to make this work with StreetSmarts.
I’m happy to report that I didn’t experience any claims or issues.
Goals For Next Month
From a maintenance perspective, I plan to personally change the cabin and engine air filters. Wish me luck. It’s not an expensive job ($20 for a cabin air filter).
I’m aiming to have my Mustang on the road 50% of the time in November. I expect my convertible to experience a slowdown in reservations during the winter months. However, I made a point in my Turo listing to mention that San Francisco’s average temperature is between 64 and 51 degrees Fahrenheit.
NorCal Area and Highs/Lows (Fahrenheit):
Marin = 64° / 47
Big Sur = 66° / 46°
Why not rent a convertible!
On the flip side, I predict rentals for my BMX X5 to pickup. 4-wheel drive and SUV’s are in demand for ski season, Tahoe trips, etc.
Revenue Guidance for November:
BMW X5: $500
Total Revenue: $1250
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To a great November!