Project by: Sameer Datta
High Concept Statement:
Uber/Lyft for people who’d like to drive than to be driven. people who own cars cars can rent out their sparsely used cars to people who’d like to rent a car without the hassle of going to a rental car company. Users open the application to get a map view of all the cars available near them that they can borrow for a certain period of time to drive around. Other information such as the make of the car, condition, mileage, special features etc will be included. They then contact the owner and arrange to meet to pick up the vehicle. Once done they return the vehicle to the owner.
Need or Demand:
Rental cars have been popular since a while back but there has been no significant improvement in the industry. I believe there is a need for a quicker and an easier way to obtain a car than to find a rental car company that offers the best price. This is similar to the taxi industry which saw no significant changes in a long time and then Uber entered the scene and threw open the market. I believe there is a similar need for the rental car industry
Product / Service / Solution:
The solution to fulfill this need is to build an app that will give you the location of cars available to borrow near the user’s location. The cars are owned by private individuals unlike a rental company and are responsible for the maintenance of their vehicle. Once the user opens the app, they are given all the information and the location of available cars to rent for a limited period of time and the contact information of the owner. The user then contacts the owner and then both of then arrange to meet and pick up the vehicle. Once the user is done with the vehicle she/he will either return the car back t o the owner or will drop them off at designated drop points for the vehicle to be returned to the owner with an service additional charge. This app will be very useful for a wide range of users such as business professionals who have to travel to multiple locations, tourists, a large group of people who normally have to take multiple taxis to travel etc.
The #1 value customers will derive from this is the ease of access and quick and hassle free service This is an already proven model with a number of successful ride sharing apps.
Rental car companies are the biggest competitors and other competitors include ride sharing companies, taxi companies etc
The majority of the revenue will be derived from rental fee. Users will have to pay a certain fixed per hour fee of usage. Other forms of revenue can be advertising on the app.