Car Rental Business: Tips on Starting, Projected Profits and Busiest Period
Car Rental Business: Tips on Starting, Projected Profits and Busiest Period
The car rental business or car rental is a business that is quite promising, especially if you are in a location that is visited by many tourists.
Apart from that, the car rental business also has several golden periods, such as during school holidays, Ramadan or the New Year holiday period.
Please note that to start a car rental business you are not required to have a large number of cars.
In other words, you can start a car rental business using only one or two cars.
If later people’s demand increases and you think about pursuing this business even deeper, that’s where you can add to the car units you have.
The following are some things you should pay attention to when you want to start a car rental or rental business according to website
Choose a Strategic Location
One of the main things you need to consider when you want to run a car rental business is location.
As previously said, locations that are crowded with tourists are the best locations for this business, and how lucky you are if your house or car is close to tourist attractions.
In addition, one of the added values of the location is that it is easily accessible or easy to find so that tenants have no trouble when they want to visit your car rental place.
Then, what if your business location is in a residential area far from tourist attractions or crowds?
Don’t worry! You can start by offering your car rental services to your neighbors, or maybe to schools that have student shuttle services.
Take advantage of Owned Cars
If you have an idle vehicle at home, why don’t you use it? For opportunity catchers, they usually use these idle cars as online transportation.
But apart from that, you can also use it to rent directly, where the rates are usually calculated based on hours of use.
For example, to rent a car with a driver for 6 hours, the price is IDR 250,000. For 12 hours of use, it costs IDR 450,000.
Meanwhile, for full day usage, you will be charged IDR 600,000.
You can also set a new price with a driverless car rental package, which is usually cheaper.
But remember, you still have to consider the security aspect too, OK?
Buy Most Wanted Cars
If in the previous point we talked about using an existing car, this time our focus is for beginners who just want to buy a car for business.
If you want to buy a car for rent, try to choose a car that is in great demand, for example Avanza or Xenia.
Avanza and Xenia cars are the most frequently rented cars by car rental business entrepreneurs.
Why?
The reason is that the price of the car is not too expensive and it also has quite a lot of passenger capacity, namely 5 to 6 people.
Prepare Requirements for Car Rental Business
Keep in mind that the car rental business is not a risk-free business. In fact, the biggest risk you can run is for the car not to return.
For that, you have to make business rules to avoid this.
For example, you ask for a KTP or other identity card from the tenant.
Make sure again that the identity or other supporting documents are genuine and legal.
Don’t forget to make a Lease Agreement as well to make it safer.