TURO MAJOR CHANGES INCOMING/IS IT OVER??

Рет қаралды 15,654

Күн бұрын

Пікірлер: 62

@mrkjreid1 7 ай бұрын

Hello Stefan. I’m looking into starting my Turo business in a few months hopefully. I’ve watched two of your videos and I love the information that you are putting out. Please continue to do so. I want to learn as much as possible before I just jump into it. Thank you once again

@bgibson1216 Күн бұрын

Don’t do it…that ship has sailed …you will take a beating

@FishAdvisor 2 ай бұрын

After 2.5 years with 4 cars i decided to fall back. The recent changes to the price structure are crushing the platform. I recent looked at their suggested discounts for long term trips and they recommended 60% for 1 month trips. After that discount, fees etc. I would make 1/3 of my daily rate. Barely able to cover a monthly payment thus leaving zero meat on the bone to cover unexpected repairs etc. All of this came on quite suddenly and i was able to sell my cars for a bit more than i owed on them. Thank God i cleared my liabilities on those loans.

@Prestige.Automotive 9 ай бұрын

Yea, I have 7 cars and I put mine on instant booking to prepare. I have to watch my calendar very close now. This instant booking could be a headache for new hosts and Turo. Also if you're a part timer, it could hurt you. I'm not sure how this is going to go. I'm still going to add more cars this month.

@StefanMarquardt 9 ай бұрын

Yea me too

@CJPIONT123 9 ай бұрын

I like the co-host feature, but I joined Turo in October and out of 13 trips 7 of my guests have damaged or smoked in my car. This is important for other hosts to know before they accept a trip(basically making the guest reviews unessential. For example someone smokes in your car unexpectedly you may have to push back or cancel a following trip due to you needing to repair your car or get it detailed. Which in turn would affect your reviews and cancellation rate as a host. Turo worked with me on this up to this point but definitely will be an issue in the future.

@StefanMarquardt 9 ай бұрын

Yea it does suck when you have a following reservation and the new guest complains….maybe increase your trip buffer, make sure to have an ozone machine and air sanitation and also blunt power sprays. But I don’t mind collecting $150 smoking fees, I don’t mind damages either because it’s profitable. In my experience, guest who’s rent cars between $40-$55 a day are willing to deal with a little smoke smell as long as the responsibility doesn’t fall on them.

@iamOAKland 7 ай бұрын

The problem is people still have feelings for cars they rent!!! It’s equipment that makes money….imatate what Enterprise does, just clean it and move on to the next renter

@MrTechnics 10 ай бұрын

The Co host feature was needed, then they shafted us with removing request to book. Experienced hosts depends on this feature as a vetting tool not even warn guests about not leaving the state etc, now they’re trying to force all guests low quality and removing the ability to try to protect your asset. It’s honestly hated in Florida that they’re removing this feature to the point allot of hosts are looking to go private or jump ship. Nobody cares about more bookings excuses, it’s going to cause allot of hosts allot of money by removing another tool to protect us mannnn :/

@StefanMarquardt 10 ай бұрын

I can’t remember the last time I denied a request due to the guest….now if they let me know they’re going on the another side of the country…then yes. But other than that Iam gonna take the reservation, if it goes wrong, file my reimbursements, if ai don’t want to deal with that guest again then I will leave a 2 star or lower and keep it moving. Lower price can have bad guest…but there’s also good ones who need the car longer term. My goal is to find the latter. Unfortunately we have to go through the process of elimination…

@kolobkolobkolobkolob 9 ай бұрын

@@StefanMarquardt YOU CANNOT TURN DOWN A TURO REQUEST IF SOMEONE WANTS TO TAKE YOUR CAR ACROSS COUNTRY, but with the instant booking feature they are now removing it takes away from the vetting feature that was so nice to have, we were always able to chat with the potential renter and if they needed cross country we’d tell them we like and prefer to keep the car within the state we reside and all of them were always kind and compliant with our wishes as the owner of the car and they rented elsewhere or said no we’re staying in the State and all went well through our ability to vett customers this way, but we were on with Turo and they stated you cannot tell someone they can’t go cross country as they are given so many miles they can drive and they can pay for what ever extra they want. So your car could end up pretty far away and perhaps broken down as well and what a head ache. We are hoping they will reinstate the vetting process because you own the vehicles, not Turo you take the risk. This is coming from someone experienced with 15 plus cars and years of experience. Blessings and hope people will strike in Month of May 2024.

@StefanMarquardt 9 ай бұрын

@kolobkolobkolobkolob I would be ok if they kept it like this, not sure who will pass up a check to strike, but I’ll check back with you to see how that goes

@kolobkolobkolobkolob 9 ай бұрын

@@StefanMarquardt sounds good and nice video by the way. Most don’t realize the work that can go into these.

@mrweddingspeech151 9 ай бұрын

I did my hard research just recently and for most areas it is not really profitable. What is happening is that there is so much competition - the smaller fleets and owners of one or two cars are lowering their price/day just to GET BY and pay their loan and other expenses. They do not care about profit at this time. So there is a price war to the downside. This in turn is causing the larger fleets to do the same... in fact, a lot of mid-large fleet owners are SELLING their fleet to bring in income and to get out of the business!! According to the numbers of my local area - owners of 6 - 9 vehicles are only doing about $80 per month/vehicle @ average of 4 days rented ... to $118 / month / vehicle @ average of 6 days rented on the lower end. On the higher end; $509/month per vehicle @ avg of 4 days rented ... to $763/month per vehicle @ avg of 6 days rented. Remember, those are GROSS figures not NET - you still need to include cost of maintenance, gas, cleaning, repairs, insurance, parking, etc., which is about 67.5% of GROSS. Now, do the math...

@StefanMarquardt 9 ай бұрын

What you just described is a market cycle…interested to know where you got these numbers from and which market. Iam hoping a lot of host drop off in my market so I can raise my prices…

@mrweddingspeech151 9 ай бұрын

@@StefanMarquardt Not a market cycle. The Low end and High end that I described above where from two different Hosts in the same area. One had 7 vehicles and started 32 months ago (Lower end) and the other had 9 vehicles & started 26 months ago (Higher end). One host just made more $$ than the other. Figured numbers by looking at the number of trips (total) and time on Turo by cost per day, etc. Just did the math. There were other hosts I looked at as well and numbers for those also about same as above. Just not seeing a "worth it" investment to do this here. My AREA (not market) is Volusia Co, FL.

@StefanMarquardt 9 ай бұрын

When all those host you describe decide to leave, the few that are left start to increase prices and make money. Then someone else comes and does the math, just as you are doing, and says “wow, you can make good money doing this”! Then they go and get some cars, others follow suite and possibly find themselves back in this first step. That’s called market cycle. The FL market is “iffy” from what I see in different groups. But the largest fleet owner is in Orlando, I believe he has almost 200 cars. There’s more factors needed to make a solid conclusion… In my market there these same host you described that just need to make a car payment so they have 2022 cars renting for less than 50/day…but Iam still renting 2014 Q50 for $45-$50 a day and 12 Qx56 for $75 a day. Iam more into long term renters so I do stay away from really high priced cars, so I actually have 6 renters right now who are extending a few days at a time for months, and 1 renters even a year (14 Malibu). I control what I can which is great customer service, well maintained cars and my hours are a bit longer. At the end of the day, it’s not worth it in every market, but since the barrier to entry is low, a lot of these host have no business or customer experience and also make a huge mistake of not marketing themselves but relying on Turo for that. The best way to test the waters out is cheap cash car.

@kolobkolobkolobkolob 9 ай бұрын

I agree and this is what we see with a fleet of 15 vehicles. Turo increased the number of Miles a client could have and many others over the last few years but removing instant booking, oh man what a stupid move by Turo. We’re asking host to strike Month Of May 2024 to send a message to Turo to reinstate a host ability to vett customers themselves still. Running a good fleet and not running them into the ground is helpful and is a component in keeping your business and fleet financially sound as well. There are some who say hey I can charge more if others remove there cars from listing, well that’s up them but we think we have enough takers on this for May to get them to change there minds and wow they must be in financial trouble or potential law suit to make this kind of a change.

@YoSoyEso 10 ай бұрын

Sounds good . Already managing a fleet at miami and wanting to start own cars at turo.

@StefanMarquardt 10 ай бұрын

How many cars? If you’re doing it right and looking to scale…then this is good news for you 💯

@YoSoyEso 10 ай бұрын

@@StefanMarquardt correct. About 6 cars .

@mojusgames5027 6 ай бұрын

What do you guys think is a fair revenue split or pricing model for a cohost?

@saultknutz1166 10 ай бұрын

Hmmm..."Fleet Manager" sounds like an interesting job, guess I'll be keeping my eye open for opportunities....plus co-hosting allows folks to expand out past their region into multiple markets (you hinted at that earlier)

@StefanMarquardt 10 ай бұрын

You have some experience hosting already? Track record is a great start to get other host to send you vehicles.

@saultknutz1166 10 ай бұрын

No hosting experience so far, I loved my personal vehicle too much to be renting it out to strangers,lol. But if you think about it, that might actually make me a good co-host...

@StefanMarquardt 10 ай бұрын

😂 what kind of vehicle?

@saultknutz1166 10 ай бұрын

@@StefanMarquardt 23 Tesla Model 3 😂

@kolobkolobkolobkolob 9 ай бұрын

I know a lot abt this. Also entire fleets are going off line in May to protest the removal of Instant Bookings and not allowing for vetting of potential renters.

@thisandthatfloridausa6112 9 ай бұрын

Good informative video. Thank you. God bless you.✌👍❤

@StefanMarquardt 9 ай бұрын

Thank you 🙏🏼

@Wire-Free 9 ай бұрын

Stefan I'vee been following your channel for a couple years now... And definitely appreciate your detailed insights and shared experiences! What % do you charge or recommend others to consider charging vehicle owners to help co-host their fleet(s) Can you make a video about that.... If you're co-hosting OPC, for other people's cars? Thanks 🎉 continued success in 2024

@StefanMarquardt 9 ай бұрын

Thanks for supporting the channel…70/30 is the average rate I see for cohosting.

@rooseveltabellard1937 10 ай бұрын

Great video, Stefan! What company would you recommend manage your fleet to make Turo fully passive ?

@StefanMarquardt 10 ай бұрын

Haven’t used any first hand so couldn’t speak from experience.

@mobokey 2 ай бұрын

That is some great informative video!

@mustaphaabubakari3285 9 ай бұрын

You should have your own website bro since you have return customers

@StefanMarquardt 9 ай бұрын

I do have a website but the customers who have rented from me on Turo can easily go right to my page to see which cars I have available.

@kolobkolobkolobkolob 9 ай бұрын

WE ARE PLANNING A TURO STRIKE FOR THE MONTH OF MAY 2024. We are planning a Turo wide strike for the Month of May, please remove your vehicles from being available for the month of May or for as many days as you possible can to send Turo a message to reinstate Instant Bookings. Turo does not own our vehicles we take the risk. It’s redundant that we would need to stay on the line with Turo to attempt to cancel a trip because of a booking that has one or two stars and has a terrible review then to call Turo to see if you can get them to agree with you to cancel the automatic booking (good luck) They will only allow you to cancel trips for the already well known reasons, ie a problem with their I’d and etc etc. If you only want to allow for example renting and accepting a 4 or 5 star renter that’s gone as well and more. So please do what you can to send them messages, phone calls and let them know who owns the vehicles. Take as many vehicles off as you can manage to do. Thanks n take the bull by the horns.

@martinlazar9420 10 ай бұрын

Sounds like Turo is trying to become a large Rental car player using mom and pop Rental car companies. But in order to do that they want larger fleets like yours.

@StefanMarquardt 10 ай бұрын

I can see why….I get a lot of last minute reservations from other host canceling….some times Turo will call directly to book for the guest.. So just how host have bad stories about the guest…..it’s vise Versa also

@kolobkolobkolobkolob 9 ай бұрын

Yes they are, they have forgotten that the vehicles belong to use and we take the risk. Please strike and remove your vehicles with Turo for as many days as you can in the Month of May 2024 and please participate by encourages others as well. Thank you for your comment as well very true.

@kolobkolobkolobkolob 9 ай бұрын

@3mtapestry884 Up to you free agency a great gift we all have. Peace brother no hate you work that month it’s all good man.

@Seedcadets 10 ай бұрын

How much of a revenue split do you do?

@StefanMarquardt 10 ай бұрын

Iam only managing my own fleet but 70/30 is average

@andrewsnyder9262 10 ай бұрын

I will never cohost or take on partners. Flying solo until the wheels fall off. About 1300 trips so far. Not so great anymore.

@Seedcadets 10 ай бұрын

Why?

@StefanMarquardt 10 ай бұрын

Revenue decline? Interested to see how this change affects pricing…

@dominicgerodano5481 8 ай бұрын

So what you’re saying is you need someone to partner with?...

@andrewsnyder9262 8 ай бұрын

@@dominicgerodano5481 lol you silly

@iamOAKland 7 ай бұрын

@@dominicgerodano5481that’s what I thought if it’s not so great anymore

@konanoobiemaster 8 ай бұрын

I tried Turo but the "guests" are just trashy entitled losers who will ruin your car - not worth the time or money

@thegamepz 10 ай бұрын

Time to abandon ship when instant is away !

@StefanMarquardt 10 ай бұрын

So if everyone jumps, the host that stay can charge more?

@thegamepz 10 ай бұрын

@@StefanMarquardt hopefully 😁

@kolobkolobkolobkolob 9 ай бұрын

You are correct and experience host know this but there are some who do not car and allow their vehicles to get run into the ground. Turo making a very big mistake this time. Please participate in the Planned Turo Strike May of 2024 for as many days as you can to send them a message to reinstate the vetting process etc.