Hiring out sports/supercars
Discussion
One thing i often find frustrating is when you want to hire a sports/supercar for self drive, you ideally need to be in London or a big city, or else pay loads to have it delivered and collected
So, how do these businesses work in terms of setup? Is it a case of someone/a company buying 'x' cars. and hiring them out? Or does it work differently
I've put a fair amount of thought into starting with something like a boxster or similar, and renting it out so many times a month, locally rather than nationally, and then slowly adding to the stable as and when it picks up momentum - we have some excellent driving roads & areas round here but no-one rents out nice cars!.
But it seems very difficult to find out what things need to be in place, i.e insurances etc, to make this work - can anyone guide me or point me in a good direction?
I already have a kitchen business so comfortable with the 'running a business' side of things. Any pointers would be really appreciated
Cheers, Mark
So, how do these businesses work in terms of setup? Is it a case of someone/a company buying 'x' cars. and hiring them out? Or does it work differently
I've put a fair amount of thought into starting with something like a boxster or similar, and renting it out so many times a month, locally rather than nationally, and then slowly adding to the stable as and when it picks up momentum - we have some excellent driving roads & areas round here but no-one rents out nice cars!.
But it seems very difficult to find out what things need to be in place, i.e insurances etc, to make this work - can anyone guide me or point me in a good direction?
I already have a kitchen business so comfortable with the 'running a business' side of things. Any pointers would be really appreciated
Cheers, Mark
I think your biggest issues with the model proposed are:
1) A low(ish) cost car is unlikely to attract a sufficiently high premium to cover your costs (and Boxster is the bottom end of the spectrum for sports rentals)
2) There is a good reason that they are all in big cities - access to demographic and transport network - they are appealing to the cash rich / time poor demographic who want to finish work on a Friday and pick up something special for the weekend. They won't want to travel significantly first.
3) Lack of choice would be a detractor, unless you had a niche car like a Caterham / Atom
4) One car? If you want to build a loyal customer base, how will you deal with the issue that when someone trashes it the week before you have to cancel the next weeks bookings?
I guess 1) and 2) could be negated if you lived somewhere very special - like the famous Evo triangle in North Wales, but then you'd probably attract only those who'd rag the car to the limits...
Key question is - is it an unserved gap in the market because no one has spotted it, or because the demand isn't sufficient to support a business?
On the positive side, have a look at this niche rental service:
http://www.roadsporthire.com/index.html
Which is run by a PHer (I think)
1) A low(ish) cost car is unlikely to attract a sufficiently high premium to cover your costs (and Boxster is the bottom end of the spectrum for sports rentals)
2) There is a good reason that they are all in big cities - access to demographic and transport network - they are appealing to the cash rich / time poor demographic who want to finish work on a Friday and pick up something special for the weekend. They won't want to travel significantly first.
3) Lack of choice would be a detractor, unless you had a niche car like a Caterham / Atom
4) One car? If you want to build a loyal customer base, how will you deal with the issue that when someone trashes it the week before you have to cancel the next weeks bookings?
I guess 1) and 2) could be negated if you lived somewhere very special - like the famous Evo triangle in North Wales, but then you'd probably attract only those who'd rag the car to the limits...
Key question is - is it an unserved gap in the market because no one has spotted it, or because the demand isn't sufficient to support a business?
On the positive side, have a look at this niche rental service:
http://www.roadsporthire.com/index.html
Which is run by a PHer (I think)
Hi thanks for the reply.
TBH, to start with i see this more as a lifestyle business rather than a large venture that has to make loads of dosh. If it takes of and is pointing towards being more than that, then so be it and it will grow.
What i'd also want to do is not necessarily follow what others are doing, but add something a bit more personal about it. Although not a new idea, providing some good driving routes into the sat nav (should the clients wish to use them), maybe selecting a few good pubs along those routes to have lunch at etc, would certainly differ from most self drive offerings.
Indeed i see why these companies are in bigger cities, but that doesnt mean that is the only place to be. We have some very affluent areas around here, coupled with some great routes for driving, plus i wouldnt be looking to hire out every single day. Saw the boxster as a starting point as it has the desirable label, is a good driving car & wouldnt cost as much to start off with. Plenty of car hire places with the ferrari's etc also have boxsters on the books.
Thanks for the caterham link, looks interesting. Would be good if i could have a chat with the possible PH'er that runs it!?
TBH, to start with i see this more as a lifestyle business rather than a large venture that has to make loads of dosh. If it takes of and is pointing towards being more than that, then so be it and it will grow.
What i'd also want to do is not necessarily follow what others are doing, but add something a bit more personal about it. Although not a new idea, providing some good driving routes into the sat nav (should the clients wish to use them), maybe selecting a few good pubs along those routes to have lunch at etc, would certainly differ from most self drive offerings.
Indeed i see why these companies are in bigger cities, but that doesnt mean that is the only place to be. We have some very affluent areas around here, coupled with some great routes for driving, plus i wouldnt be looking to hire out every single day. Saw the boxster as a starting point as it has the desirable label, is a good driving car & wouldnt cost as much to start off with. Plenty of car hire places with the ferrari's etc also have boxsters on the books.
Thanks for the caterham link, looks interesting. Would be good if i could have a chat with the possible PH'er that runs it!?
Yeah think i might email him - dont know why that didnt seem obvious to me (he says embarrassingly!)
I see your point about the Boxster & yes a TVR may be a better option. I dont know much about TVR's but have heard the common conversations about reliability - truth in this? Obviously this will link into service costs.
I have a name for the business in mind which links in to convertables, which i think is also the best way to enjoy a good blast in a sports car! That would be hard to build on as a lot of cars fall into that category!
I really hope the insurance isnt a killer on this, as i've been going through options on how i could achieve this kind of thing for the best part of a year now!
I see your point about the Boxster & yes a TVR may be a better option. I dont know much about TVR's but have heard the common conversations about reliability - truth in this? Obviously this will link into service costs.
I have a name for the business in mind which links in to convertables, which i think is also the best way to enjoy a good blast in a sports car! That would be hard to build on as a lot of cars fall into that category!
I really hope the insurance isnt a killer on this, as i've been going through options on how i could achieve this kind of thing for the best part of a year now!
I can't remember the details but there is a guy in France who has a couple of gites and a couple of sportscars (lotus and caterham?) who offers weekend packages.
I suspect that insurance is the killer. I used to know a bloke who did high end sportscar hire and his business model was that he was a broker for the car owners - which seems a sensible way to go to offer a reasonable range without needing huge capital.
I suspect that insurance is the killer. I used to know a bloke who did high end sportscar hire and his business model was that he was a broker for the car owners - which seems a sensible way to go to offer a reasonable range without needing huge capital.
TooLateForAName said:
I can't remember the details but there is a guy in France who has a couple of gites and a couple of sportscars (lotus and caterham?) who offers weekend packages.
That sounds like a better idea - depending on the money you have available to start with, maybe link up with someone who owns a couple of holiday cottages in the Highlands: customer flies into Glasgow airport, picks up their Lotus / Porsche / TVR and drives off for their weekend break.jamieboy said:
TooLateForAName said:
I can't remember the details but there is a guy in France who has a couple of gites and a couple of sportscars (lotus and caterham?) who offers weekend packages.
That sounds like a better idea - depending on the money you have available to start with, maybe link up with someone who owns a couple of holiday cottages in the Highlands: customer flies into Glasgow airport, picks up their Lotus / Porsche / TVR and drives off for their weekend break.The idea of coupling the car hire with a nice hotel stay is definately something that appeals. A weekend with a nice car plus a nice country hotel sounds spot on - plenty of country hotels in this area! Cotswolds, Bath, Somerset etc all surround us in Wilts
I know the kind of clientel in the area through my kitchen business which helps, and i know of places to market the idea again through experience with my kitchen business
Have contacted Scott & he's very kindly said he'll answer some of my Q's which is good!
I know the kind of clientel in the area through my kitchen business which helps, and i know of places to market the idea again through experience with my kitchen business
Have contacted Scott & he's very kindly said he'll answer some of my Q's which is good!
I think this sounds good,
however I will echo the above, I wouldnt be interested in a Boxter, its a bit of an everyday car to feel special.
I would go for a TVR T350, Lotus Exige, Gallardo etc.
As your clientell are people with big disposible incomes they will be able to afforrd a boxter/simular themselves as its a "sensible" choice.
But its unlikely they would own a TVR/Lotus as this is a bit of a "niche sports car" and unlikely they would buy one, so it makes it feel more special.
however I will echo the above, I wouldnt be interested in a Boxter, its a bit of an everyday car to feel special.
I would go for a TVR T350, Lotus Exige, Gallardo etc.
As your clientell are people with big disposible incomes they will be able to afforrd a boxter/simular themselves as its a "sensible" choice.
But its unlikely they would own a TVR/Lotus as this is a bit of a "niche sports car" and unlikely they would buy one, so it makes it feel more special.
Gotcha. I've just been looking at exige's and Elise S2's actually as having driven one years ago at Combe, i remember to this day how much fun it was! And like you say, the lotus is a bit more hardcore and 'special' and wouldnt necessarily be considered over a porsche etc.
I'm guessing servicing shouldnt be too hefty being a reliable engine & not thirsty?
Gallardo is a few leaps on for me starting out, though one day, hell yeah!
Any other comments ref the Elise/Exige as a suitable starter?
I'm guessing servicing shouldnt be too hefty being a reliable engine & not thirsty?
Gallardo is a few leaps on for me starting out, though one day, hell yeah!
Any other comments ref the Elise/Exige as a suitable starter?
sidekickdmr said:
however I will echo the above, I wouldnt be interested in a Boxter, its a bit of an everyday car to feel special.
I would go for a TVR T350, Lotus Exige, Gallardo etc.
As your clientell are people with big disposible incomes they will be able to afforrd a boxter/simular themselves as its a "sensible" choice.
I guess it depends on exactly the clientele - in my head, this would be aiming at people for whom a Boxster is very much an aspirational car, and traditional "supercar" hire places would be out of reach.I would go for a TVR T350, Lotus Exige, Gallardo etc.
As your clientell are people with big disposible incomes they will be able to afforrd a boxter/simular themselves as its a "sensible" choice.
For them, justifying to their wife a Saturday hire of a Gallardo at £1000 would be impossible. Justifying £500 for a weekend away with the car as part of it would be a lot easier.
I think a lot of people/couples would be happy with a package that gave them a Boxster from Friday night until Monday afternoon, a nice holiday cottage in a good location and an evening meal at a respected restaurant in the area. It's maybe not a package for the out-and-out driving enthusiast, but might have a wider audience because of that.
I would MUCH prefer a weekend in this
http://www.pistonheads.com/sales/2256824.htm
Than this
http://www.pistonheads.com/sales/2360880.htm
Forget the Gallardo, bad idea on my part
http://www.pistonheads.com/sales/2256824.htm
Than this
http://www.pistonheads.com/sales/2360880.htm
Forget the Gallardo, bad idea on my part
I do like the idea of a 'package' including hotels etc. I agree that a Boxster isn't maybe really special enough, why not look at a range of classic convertibles/ roadsters such as Mercedes R107 SL, Alfa Spider (a la Graduate), MGB, TR6, Stag, Morgan with perhaps the odd Lotus thrown in the mix?
The classic idea must have mileage.
One of the problems with supercar/extreme sports car hire is that you have to expect the cars to be thrashed with a consequent impact on the cost of upkeep (and hedges if you're unlucky).
Going with something more 'classic' /relaxed should result in better costs. Especially if you can do it as a package - makes it more an aspirational lifestyle gig rather than a drive-it-like-you-stole-it thrash.
One of the problems with supercar/extreme sports car hire is that you have to expect the cars to be thrashed with a consequent impact on the cost of upkeep (and hedges if you're unlucky).
Going with something more 'classic' /relaxed should result in better costs. Especially if you can do it as a package - makes it more an aspirational lifestyle gig rather than a drive-it-like-you-stole-it thrash.
Well i spoke to Scott @ Roadsporthire and he's really helped with a few questions i was struggling to find answers for - seems like a very genuine guy & loves those caterhams!
Still interested in others opinions on using an Elise/Exige as this really is looking a favourable car from my point of view.
Still interested in others opinions on using an Elise/Exige as this really is looking a favourable car from my point of view.
Elise/Exige: very good 'cost to fun' ratio, suitably niche.
But...doesn't really work when coupled with the weekend break idea as your customers will also need to hire another car to carry their luggage! Especially if there's 2 of them...and with a 2 seater sports car that is sort of 100% of your market (apart from the presumably minute % of sinlge people who hire holiday homes!).
But...doesn't really work when coupled with the weekend break idea as your customers will also need to hire another car to carry their luggage! Especially if there's 2 of them...and with a 2 seater sports car that is sort of 100% of your market (apart from the presumably minute % of sinlge people who hire holiday homes!).
MrH said:
Still interested in others opinions on using an Elise/Exige as this really is looking a favourable car from my point of view.
Great cars but I must admit I'm scratching my head as to who your target demographic may be.Best of luck with your venture, it's certainly got me thinking of ideas!
BTW I know the cars I suggested above are somewhat different to your original idea, I just thought that they were 'different' plus they are also easy to maintain and also likely to attract a clientele who are more 'careful'.
Gassing Station | Business | Top of Page | What's New | My Stuff