Car rental can be profitable if you are passionate about starting a business in the auto industry. Retail and corporate are the main segments within the car rental industry. Retail car rentals focus on individuals who rent cars for shorter periods, while corporate car rental targets companies that want to transport clients or employees.
If you are starting a car rental business , target airports, hotels, railway stations, commercial offices, and other high-traffic areas.
Market your business, hire employees who will manage the operations and keep records, and purchase business insurance for both cars and employees.
Here are some real life success stories of starting a car rental business:
1. ROAMERICA ($120K/year)
After experiencing the discomfort of traveling in their old Toyota Tacoma, Taylor and Gretchen began dreaming of a vehicle that could keep them dry and comfortable during their adventures. One night, Taylor suggested the idea of renting campervans, and both instantly knew it was a great idea. They started with one campervan and quickly realized the demand was high, leading them to expand their fleet and build their own campervans in-house.
How much they make: $120K/year
How much did it cost to start: $25K
Current team size: 5
ROAMERICA, a campervan rental company founded by Taylor Hood and Gretchen Bayless who quit their full-time jobs to focus on their business and have expanded their fleet quickly to meet the demand of adventure-seeking customers, with most of their web traffic coming from organic Google searches and a focus on social media and brand awareness.
2. Coastr ($7M/year)
How much they make: $7M/year
Current team size: 41
Coastr secures £1.4M from GroVentive and grows its customer base fivefold over the last few months by innovating and reimagining the car rental industry.
Learn more about starting a car rental business:
Where to start?
3. Subskryb ($24K/year)
How much they make: $24K/year
Current team size: 5
Subskryb is a luxury vehicle subscription service founded by Giovanni Smith, Kendell Johnson, and Preston Martelly that allows car owners to rent their high-end cars and renters to book them daily, weekly, or monthly, building a VAAS model with car owners and renters.
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