Turo says that the average annual income generated by renting one car is $10,516. For those who rent five cars the average annual income is $52,579. According to AAA, the average cost of car ownership in 2020 was $9,500 so your profit on renting one car through Turo for a year would be slightly over $1,000.May 26, 2021
How much can you make with a car rental business?
Your car rental business can rake in the cash if you have an optimal location, a diverse fleet of vehicles, and competitive rates. It is possible to make $50,000 to $100,000 in the first couple of years. Continue to grow your business and you will eventually reach the mid-six figure mark.Mar 8, 2021
How profitable is a car rental business?
In fact, properly modeled and demonstrated by decades of performance, car rental companies generally produce net income margins of 5 to 10 percent. Fleet growth can be accommodated by new debt and a growing Owners' Equity account.Feb 25, 2011
Is opening a car rental business profitable?
How much profit can a car rental business make? Your car rental business can rake in the cash if you have an optimal location, a diverse fleet of vehicles, and competitive rates. It is possible to make $50,000 to $100,000 in the first couple of years.Mar 8, 2021