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5 Reasons Why Turo Hosts FAIL

Today, let's talk about why people fail on Turo
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Time Stamps Below:

00:00 - Intro
What's up you guys, today we are going to be discussing why people fail on Turo, Turo has a notoriously bad retention rate. Meaning, hosts join the platform but a much smaller portion actually stays on the platform. So, today we will be breaking down why this is the case.

01:09 - Unrealistic Expectations
So, first and foremost is unrealistic expectations - particularly with the passive factor of this business model. Now, don't get me wrong, I do believe that Turo is a semi-passive income stream, and you can run a successful Turo business without working full or even part-time, but you will have to work. When people enter Turo with the expectation that they won't have to do any work. This is an issue and can cause them to quit or fail.

02:09 - Buying Cars Above Market Value
Regardless of what car you buy and the price of that car, the most important factor is how much you paid in relation to market value - this is so important. Overpaying for cars will kill your Turo business, you need to ensure that whatever route you go down with your fleet, whether it is the low-end economy, SUVs, Luxury, or Exotic - whatever path you pursue you need to ensure your cars are purchased below market value.

04:46 - Overleveraging Yourself With Debt
A similar process is taking on too much debt. You should never buy more cars than you can afford - it worries me when I see hosts who have 5+ cars all financed, and this is a recipe for disaster. When hosts overleverage themselves it oftentimes leads to problems.

06:24 - No Process
Another issue is not having a process, at the end of the day Turo is a business and it is always a good idea to develop a process for every aspect of the business, if you don't then you run the risk of spending too much time on this business thus not making it worth your time. Develop processes, develop systems and you will be in a good spot.

07:43 - Didn't Read the Terms of Service
Lastly, when hosts don't read the Turo Terms of Service - this is a big issue that can lead to a lot of money being lost if you aren't careful. Not following the terms of service can lead to a damage claim which can cost thousands if not tens of thousands of dollars.

09:36 - Closing
I hope you guys enjoyed this video, make sure to hit the like, subscribe, and the notification bell and I will see you guys in the next video.
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Disclaimer:
I am not a CPA, attorney, lender, or financial advisor. The content in these videos should not be construed as tax, legal, or financial advice...etc, and may be outdated or inaccurate; it is your responsibility to verify all information yourself. This is a YouTube video for entertainment purposes ONLY. IF stocks or companies are mentioned, Aubrey may have an ownership interest in them – Please do not make buying or selling decisions based on Aubrey’s videos. If you need advice, please contact a qualified professional.

#Fail #Turo #Hosts

Видео 5 Reasons Why Turo Hosts FAIL канала Aubrey Janik
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11 января 2022 г. 2:00:11
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