If you’ve been wanting to start your own business but aren’t sure exactly how or what type would suit you, consider using your entrepreneurial skills on Turo.
There are a lot of great reasons to start with Turo. Here are just a few:
1. No money needed to start – If you have your own car, or can borrow one from family or a friend, you don’t need to spend anything to get started.
2. It’s flexible – Start with just one car and set your own availability. Grow at your own pace.
3. You can start in 10 days or less (like we did!) – Keep reading to see the exact steps we took to go from wanting our own business to starting one!
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Days 1-3
Day 1 – Open a Turo account. Sign up to become a host. Get pre-approved for a car loan from your bank or credit union.
Day 2 – Form your LLC by going to Incfile.com.
Days 3 – Wait for LLC approval. Contact Turo if you haven’t heard from them. Book a session with an account rep to learn the details of becoming a host.
Days 4-8
Day 4 – Celebrate your LLC approval and apply for an EIN.
Day 5 – Apply to open a business checking account and apply for a business credit card – I recommend American Express or Chase.
Day 6 – Research cars to purchase. Use Turo’s “Car-culator” and Top 10 list for your area. Form a short list of cars you’d consider buying. Find a dealer and book an appointment to go look at cars.
Day 7 – Attend your session with your Turo account rep. Learn about all the details of hosting, and get local info about the best performing cars in your area.
Day 8 – Go car shopping. Bring your pre-approval letter from your bank/credit union. Know your numbers for profitability based on info provided by your Turo account rep (average days booked per month x daily rate minus car note, insurance, Turo fees, maintenance/repairs, etc.) Purchase a car (or two!). Put the title of the car(s) in your LLC’s name, if possible.
Days 9-10
Day 9 – Photograph your car(s) for listing. Consider hiring a professional for this (not required, but suggested).
Day 10 – Book another call with your account rep to learn more details of being a host and about listing your first car. Then get your first car listed. Review Turo’s car cleaning tutorial. Wait for your first booking.
Here’s the exact process I followed, with dates:
Months earlier: Got pre-approved for a car loan and notified Turo I was interested in being a host once NY gets approved
6/17 – Applied for LLC
6/21 – LLC approved. Applied for and received EIN
6/24 – Initial call with Turo account rep. Opened business checking account (I used Amex).
6/25 – Bought two cars from a dealership
6/26 – Took pictures of cars (did this myself, no photographer)
6/27 – Follow-up call with Turo account rep. Went over lots of details about hosting and listing first car. Listed cars, meaning we’re in business! Approved for business credit card (also Amex).
6/28 – First booking! (on Day 11)
