Cheaper and Better than Turo
Estimated Read Time: 3 minutes
This week we’re exploring a business idea that is always popping up on social media. With a relatively low startup cost and a path to scalability this can be a great business for a part timer or first timer.
We’ve covered some of the struggles of more traditional side hustles that you can do on your own platform in other posts.
One of the reasons we don’t like things like Turo, AirBNB, or any platform based business is the lack of control. You want to have complete control over your business without the risk of being deplatformed and having significant revenue streams taken away.
That’s why we like trailer rentals.
That’s right, big boxes of steel and wood being pulled around on wheels behind a big old truck. You can easily spin up a business using less capital than car sharing on Turo with a lot more upside.
Less initial investment
For $3,000 you can get a trailer that rents at $40 per day That’s only 75 days rented to get your investment back and generate profit from there!
Now sure, there will always be things to figure out.
What about insurance?
These fees can be easily passed on to the customer. They’re used to paying little add on fees for things like that. Go find a local insurance broker who can help you work out a deal.
What about flat tires and other maintenance?
Take a security deposit with every rental. If the customer doesn’t take care of your trailer you can draw from that and make sure you get paid.
What if I don’t have a truck to pull a trailer?
You can advertise them as self pull. Provide a hitch and let people come and pick it up to tow away for their projects.
How do I get customers?
There are so many ways that are 100% free to get started. Post on Facebook Marketplace, Craigslist, and your local classifieds. As you get more sophisticated build a website, Facebook page, Yelp, and all that other fun stuff.
I don’t have a place to store a trailer. How can I park one at my apartment?
Use Neighbor to rent driveways and parking spaces to store it when it isn’t being rented. Better yet, find a neighborhood with some big lots and go knock some doors. Offer people $30 a month to let you use their RV pad.
Before long, you’ll be like this guy. With tens of thousands of dollars worth of trailers ready to be rented and generating thousands of dollars in monthly revenue.
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