Small Business- Car rental in Tier 2 city (Indore)
Hi guys, what do you think of car rental business, idea is to start with 1-2 second hand cars. I have someone very trusted who will drive it on a profit sharing basis, would like to understand it from the people who might have done this business in the past or are currently doing.
Scope- daily intra city, outstation, intercity, trips, special events (wedding)
Areas of concerns- Total time required for break even, insurance, maintenance, monthly reconciliation of the earnings, any other tail event
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Very cut throat competition currently in tier 2, still if you have your own, not on debt , you can make userbase and then kind of a whatsapp group and increase your share in income.
Interesting would be to make it available in tier 3 , intercity, lacs of people up-down on daily basis of around 150 kms. Tough to convince them to come out of train, but yea.. if done , its just unexploited market.
that's interesting I myself come from a village background and I know how difficult it is to travel. As of now Tier 2- connecting with Tier 3,4, 5 is all done by local buses they have their own routes/timing and I believe they have contracts (mostly politics is involved) it would be tough to break their monopoly but let me explore that as well
Interesting thing in tier 2 is something like pink taxi, or woman friendly cabs, which can be like a monthly subscription and driver can also be a woman..