The question, “how to become a young entrepreneur?” or “how to become a young entrepreneur with no money?” doesn’t have one single solution. It takes guts, for sure. You have to be able to risk it all. And it takes a lot of intelligence and stamina. But regardless of your skills and talents, there’s one thing every entrepreneur needs: resources. When you take those first steps towards entrepreneurship, you need some extra cash to keep you afloat along the journey.
That’s where the side hustle comes in — a side job that pays the bills while you build the business. It could be anything from renting out your house on Airbnb to picking up a second job. But what if your side business could turn into a full on career? It may sound crazy, but car sharing could be the answer.
Understand how car sharing works
Your car is your primary mode of transportation. But there are likely a few days during the week when it just takes up space in your garage or fills an expensive parking spot. car sharing is a way to capitalize on your car when it’s not in use.
Car sharing is a type of alternative car rental or car service that helps out the borrower and the driver. You’re actually letting someone else borrow your car like you would a friend, but with more security, structure, and most importantly, money.
You simply sign up, send in information about your car, and you can start making money immediately by renting it out to people in the area. All you have to do is drop off your car at an Avail parking lot. Share your car a few days out of the month and use public transportation, or make money while you’re on a trip.
Avail, for example, takes care of the car exchange, cleaning, inspection, and insurance process so it’s easier for you and the borrower.
Car sharing as a side hustle
Car sharing is an easy way to make extra money on top of your full time job, or simply to help with some of the bills and expenses while you launch a business. With little effort, you can easily make up to $25/day if your car is shared.
Car sharing is an example of one of the ways an entrepreneur can finance a new business. Share your car as much as possible throughout the month and you can make extra cash to fund an entrepreneurial endeavor. Or use car sharing to springboard another business and make a passive side income to support yourself. It provides a base level of income, stability, and peace of mind as you start the road towards entrepreneurship.
How to become a young entrepreneur with car sharing
But what if car sharing was more than just a side business? What if you could turn it into a full-on entrepreneurial endeavor? Look at car sharing as more than a side hustle, but rather an investment. Here are a few tips on how to become a young entrepreneur with car sharing. You’ve got the entrepreneurial funding source right at your fingers!
Start off sharing your own car as much as possible to maximize profits. You’ll be surprised at all the creative ways you can get around without a car. Get more exercise by walking or biking, or do your part for the environment by taking public transportation. Once you’ve racked up enough cash, use that money to purchase another vehicle and double your profits. See where it takes you! It’s this type of thinking that can lead to a successful entrepreneurial business.
Know your market
Do you live in a bustling urban city? Are you close to the beach? Your location determines what sort of drivers you’ll encounter. And it also affects what those drivers need. If you’re in a place like Denver, for example, it’s a good idea to share a car with four-wheel drive for the snow and mountains, and space (and equipment) for skis or mountain bikes.
Chicago drivers, on the other hand, may be looking for smaller cars that are easy to park in the city.
How can you differentiate yourself from the rest of car sharers? Maybe it’s the type of car you’re driving. Do you want to attract clients interested in luxury vehicles or sports cars? Maybe you’ve noticed a lack of spacious cars for families or big groups traveling together. Do some research to figure out how to set yourself apart with your vehicle.
Think about extra services you can offer to drivers. Stuff like car seats, bike or ski racks, and snow tires are small touches that can really make a borrower’s experience epically different.
Your road to freedom
There may be no better perk to entrepreneurship than personal freedom. When you start your own venture, you’re the boss and you make your schedule. It’s flexibility at its absolute best.
So whether you’re building a side business, just need a little extra cash, or are a serial entrepreneur, car sharing is an ideal avenue. There’s no initial risk and no extra investment. You’re just creatively maximizing the resource you already have: your car. And who knows? If you put your mind to it, you could turn car sharing into one of those prime entrepreneur funding sources you’ve been looking for.
Get started now and sign up to share your car. The sooner you sign up the sooner you can start making money and living that entrepreneurial freedom you’ve always wanted.