Business Model for Online Car and Bike Rental Marketplace
Nowadays people are looking to rent vehicles for their vacation/weekend rides. This demand has grown over a period of time and now there is a huge market for the new entrants in this industry. Already there are only a hand full of players in this vehicle rental platform. Starting one such platform is a good idea but you need to build a solid business model.
Based on some of the car rental platforms, you can try the following business model. The basic idea is to connect the vehicle owners to the customers who are looking to rent the vehicle for a particular period of time. You can do this by building an online car rental marketplace. There you can allow the owners to list their cars and consumers to rent cars on availability.
Initially the owner should list their cars and set the availability to rent. Then when a user is searching for a car in their location, based on the availability the car will be shown to the user. Having go through the features of the car, insurance and rental price, the user can rent the car. Then they can self drive it and return the car when the rent period finishes.
Usually this kind of business model work better with the tourist spots and popular cities. Based on the user need, you can enrich your site with features like location based rental, claim request, fuel options, wallet options and dispute management etc.
However you don’t have to start building this kind of platform from the scratch, already there are ready-made solutions for this business model. Agriya, a popular web development company has come up with the Car Rental Script - Rent&Ride to help entrepreneurs build their car/vehicle rental platform.
Check out their demo, Rent&Ride - Demo
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