Baby You Can Drive My Car

Good afternoon!

Welcome to all of my new subscribers.

I have a simple idea for you today, and anyone reading this will be able to validate it by the end of the day.

Would you believe there are 57,000,000 gig economy workers in the US right now? That’s a lot of burrito bowls to deliver! Just think about that for a moment:

57 million people, all doing similar tasks that didn’t exist a mere 10-15 years ago. How quickly things can change.

But no, this email isn’t an attempt to convince you to start picking up groceries for Karen. The twofold intent of this email is like almost all of my emails:

1. Give you an idea.

2. Give you tools of how to implement that idea.

Check out this picture:

There’s an entire world out there that capitalizes on this business model:

1. Buy a used car for ~$4,000

2. Get it inspected

3. Get the appropriate level of insurance

4. Rent it out to Uber Eats/Doordash/Uber/Instacart drivers for $350 per week.

5. Rinse and repeat.

That’s it. That’s the whole model.

Why don’t these gig economy drivers drive their own cars?

1. They can’t afford it.

2. They have bad credit, so they can’t get a loan.

At 100% occupancy you make your money back 4x over in the first year.

How do you make sure your car doesn’t get stolen? Something like this and something like this.

How do you validate this idea? Post a phantom car on FB Marketplace this afternoon at varying price points and see what kinds of hits you get.

Do this same thing at a few price points and in a few different markets and respond with a quickness.

Keep track of everything in a google sheet.

Backup plan? Rent out the car on Turo. There are hardly any affordable cars on Turo. Maybe that’s for a good reason, and maybe it’s because there’s plenty of demand at the high end, so why go cheap?

2nd backup plan? Sell the car, learn an awesome lesson and have a cool story for your next party.

Is this idea saturated? Like any idea, I’m sure it is in some markets and not in others. You gotta test it!

Let me know if you try this idea and I’ll do a follow up on it.

Also, try and remember that your customers are probably treated like crap from 95% of the people they interact with, so try to be extra kind. And yes, many of them won’t reciprocate.

There are my top tweets from last week.

Last week I published YT videos about my Buc-ee’s growth hack story, holdco bros (7 biz ideas in that one), a short bio on myself and an interview with a sprinter van biz owner. Watch or listen below.

• Youtube

• Apple Podcasts

• Spotify

• Everywhere else

Thanks for reading!

Chris Koerner
chrisjkoerner