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Uber seems more convenient and cheaper than traditional taxi, hence, it has a market.
Now, many households may have some car(s) that they've been using for many years and you know, we then become sort of emotionally attached to such object... so, when they buy a new car, they may not be willing to sell such a used car immediately, while it's also true the used car may lose value a little bit if it keeps stayed with the family for a considerable period of time the family may still prefer such a vehicle stay with the family for some time... then, it just stays idle. Now, if that's quite true, why not lease/rent it to a neighbor or his/her visiting friend or the like for a week or a month something?
Then, all parties benefit from this arrangement.
Also, it's sort of like airbnb in the sense of leasing out extra capacity (not for space but for transportation).
I heard of this before but I'm not sure if a company has successfully done it. They competitor is budget/avis/rent a car companies. I would only try this in an area without rent-a-car companies, like not near an airport. Or serve a different target market, like those who can't afford a car but needs a way to work. Public transportation is another competitor, so probably choose a city without a good transit system.
Some key assumptions:
* There are indeed quite a decent level of families that have an extra vehicle that they are no hurry to get rid of (supply)
* There are a meaningful number of people (potential customers) that have a short-term need for a vehicle (need/demand)
* Such vehicle owners are happy to lease/rent their spare vehicle at a decidedly cheap rate than car rental companies (competitiveness)
I myself is way too busy, otherwise, this opportunity might be worth further exploration.
The most successful with this concept I’ve seen is Turo and actually has a quite a few in this area participating. Website: (if the log in thru other services window pops up and doesn’t let you pass just click Turo logo and it’ll bypass that screen): https://turo.com/
Can rent regular cars, electric ones, and occasionally super cars. There’s another but I can’t recall the name.
I don't think Turo would be successful.
One of the key assumptions:
"at a decidedly cheap rate than car rental companies (competitiveness)", based on my view of turo website for Greenville SC it's rate/price is actually higher than that of car rental companies.
What about insurance? How does it work? Not sure I want someone uninsured driving my vehicle and don't want the liability if something happens and they hurt someone with my vehicle.
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