Turning a Passion for Classic Cars into a Lucrative Car Rental Side Hustle

Shawn O'Connell, a 52-year-old based in the Bay Area, transformed his love for classic cars into a thriving car rental side hustle. O'Connell, who inherited his father's Mustang, was inspired to rent it out during the pandemic when car rentals were scarce due to COVID-19 and wildfires.

Finding the Inspiration for the Car Rental Side Hustle

The idea of renting his Mustang out was born out of a personal need for a rental car during a trip to Phoenix. O'Connell's wife and he encountered a shortage of available cars, leading them to a peer-to-peer car rental platform.

• They found the platform more convenient and affordable than traditional car rental agencies.
• O'Connell's experience inspired him to list his Mustang online.
• He received six bookings within 24 hours, proving the demand for classic cars.

Early Steps and Challenges in Starting the Car Rental Business

O'Connell focused on research, ensuring his Mustang was in top condition and finding the right platform for listing.

• He chose DRIVESHARE as his primary platform for car rentals.
• He also researched insurance options and pricing strategies specific to classic car rentals.
• Early challenges included managing time between his full-time job and the side hustle, determining pricing for various events like weddings and photoshoots, and handling logistics like deliveries and pickups.

Overcoming Challenges and Finding Solutions

O'Connell managed to overcome initial challenges by focusing on time management, pricing strategies, and customer service.

• He learned to prioritize and balance his work schedule.
• He used DRIVESHARE's pricing guides and customer support for assistance.
• He involved his sons during the summer to help with bookings and logistics.

Growth and Revenue of the Car Rental Side Hustle

O'Connell's car rental business quickly gained momentum, generating consistent revenue within a few months.

• He initially aimed to cover maintenance costs, but the business exceeded expectations.
• In the first year, he earned between $24,000 and $30,000 annually.
• The business continued to grow, leading O'Connell to add two more Mustangs to his fleet.
• His cars are often booked months in advance, especially during wedding season.
• The demand for classic cars for events like weddings, music video shoots, and commercials has contributed to his growth.

The Joy and Fulfillment of the Car Rental Side Hustle

O'Connell derives immense joy from the happiness his classic cars bring to clients.

• He loves hearing positive feedback from clients, particularly after weddings and anniversaries, about how the cars enhanced their events.
• The Mustangs have become part of special occasions, creating lasting memories for clients.
• He also enjoys the attention the cars receive, with people waving, taking pictures, and asking questions.
• The Mustang is particularly popular for Indian weddings, with its symbolic connection to horses in Indian culture.

Advice for Aspiring Entrepreneurs with Side Hustle Ideas

O'Connell encourages individuals with valuable assets, like classic cars, to consider turning them into side hustles.

• He recommends researching platforms, understanding insurance requirements, and maintaining the asset in good condition.
• He emphasizes starting small and finding a balance between work and the side hustle to avoid feeling overwhelmed.
• He suggests starting with a few rentals to cover expenses and gradually scaling the business as demand grows.