Use your car for your side hustle

November 8, 2016

drivingIt’s become very popular to have a so-called side hustle. In other words, a secondary form of income, separate from your day job. There are many different ways people do this: some are freelancers who take on additional work similar to what they already do. Others start small side businesses that are easy and practical to manage. A very popular part time business is to offer transport services. If you have a small truck or bakkie or you have the capital to invest in one, you can easily set up a transport or moving service. The overheads are minimal and you decide on how much time you spend on this business.

A new service that’s recently been introduced in South Africa is called RentMyRide

RentMyRide has been set up in such a way that if you have an extra vehicle that belongs to you, you can now make some money off of it. This idea is based on a successful venture called Turo which started in America. RentMyRide is a part of the worldwide “Collaborative Consumption” or “Share Economy” movement and it’s essentially a platform which allows vehicle owners and those looking to rent a vehicle to connect. This means the costs involved are drastically reduced by comparison to regular vehicle hire companies. However, the major difference is RentMyRide is not responsible for the maintenance costs of the vehicles, that’s the owner’s responsibility.

RentMyRide allows the vehicle owner to make all the decisions from start to finish

What’s more, the concern around hiring out a vehicle is thwarted by the R10 million insurance policy that the company has secured which is underwritten by Renasa Insurance. This policy also includes 24/7 roadside assistance which means that no matter what, the vehicle owners can rest assured that they won’t befall any major risks and losses.

RentMyRide is an excellent way to make extra money

The support and infrastructure provided by the company for your convenience is ideal. If you have an extra vehicle at home then there are many ways to use it for extra money. Depending on the type of vehicle you have, of course. If you have a bakkie then the options are many. You could consider running a small-time transport company,gardening service, rubbish removal service and the like. If you have a normal sedan car, then your options become more limited. However, the idea of running a type of AirBnB but with your car makes total sense.

You might even invest in a vehicle for the sole purpose of creating a business opportunity for yourself

A good consideration is, if you are in the market for a car and you have some capital, to purchase another vehicle for the purpose of creating a side business. Ideally you’d want to go for a vehicle make that is easy to maintain should anything go awry. Also looking at privately sold cars means that you’d probably get more bang for your buck. For instance, searching for  “used VW cars for sale by owner” in Google will deliver a number of results of sellers in your area. VW is a well-known brand, that’s easy to repair and maintain and they have a wide range of different vehicle types.

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