Azeem Muhammed is a student who turned to carsharing company Turo while looking for a time-effective way to make additional income.
With his three cars he is now earning as much as £600 a week. He made £3,000 in May and is hoping to make between £10,000-15,000 this year.
Turo is a car sharing marketplace that gives people the opportunity to earn money through their car.
Azeem joined Turo in April 2022, while studying in the third year of his degree.
As a student, Azeem had been looking for ways to make money alongside his studies. He was working as a food delivery driver, when he discovered he could rent out his car on Turo and make more money without having to leave his studies or his day job.
Azeem said: “Living on a student budget, especially during the cost of living crisis, isn’t easy.
“I’ve always been entrepreneurial, so when I found out about Turo it seemed like the perfect opportunity to earn additional cash alongside my university studies.
“I spent months researching the platform, understanding how it would work and what guests are looking for.
“Since joining, my profile has gone from strength to strength. I’ve been able to add cars and I’m hoping to make it my full-time venture soon. It’s a great, easy way of earning extra money.”
His car sharing profile thrived in the summer of 2022, leading him to purchase two more cars to list on Turo. In total he has two Smart Cars and a Toyota Aygo.
He has plans to expand his platform by adding 10 cars by the end of summer 2023.
Azeem now sees Turo as his main venture for the future as he can make thousands each month. His cars are priced between £30 – £80 a day.
Azeem hopes to use the money that he generates through the platform to reinvest in his Turo business and purchase more cars.
Alongside this, he is hoping to put the money towards purchasing his first home.
Azeem is studying business and marketing and explained that the work on his degree gave him a good foundational knowledge for starting his Turo business.
Xavier Collins, UK Vice President at Turo, said: “For many of us, our cars are one of the biggest investments we make, but after we purchase them, they spend most of their time unused.
Peer-to-peer car sharing is a way to earn back some of that investment, generate additional income or start your own business.
“Since launching in the UK, thousands of drivers have shared their cars on our platform, with the average host earning £423 a month per car.”
Azeem offered advice for other entrepreneurs who want to join Turo.
He said: “Getting customer feedback has been key to my success, helping prospective guests see that me and my cars are reliable.
“I advise including high-quality pictures of your cars and sharing as many as 20 on your profile.
“Lastly, be sure to do your research. Find out what other cars are in the area and how they are priced, to make sure you are competitive.”