In recent years, the car rental market has exploded. According to Allied Market Research, the global car rental market could reach $214 billion by 2027, up from $93 billion in 2019. It’s also worth noting that it’s increasing at a CAGR of 10.7%.
The industry is expanding at a rapid pace and is profitable enough to pursue. So, if you’re on the fence about whether or not to invest in car rental app development or establish one, the above growth rate figure should set your mind at ease.
Entrepreneurs who are interested in having an app produced have a limited understanding of what the app development process comprises. This blog by RentCubo serves to be an entrepreneur’s guide to online car rental app development. With the information in this tutorial, you’ll be in a better position to make the best selection for your car rental mobile app development.
How Long Does It Take To Develop a Car Rental App?
This is a frequently asked question. 4-6 months is the quick answer. Well, the first version of the app usually takes longer than 4 months, but in most circumstances, it shouldn’t take longer than 6 months. You’ll frequently come across developers or firms who claim to be able to build apps in as little as 2-3 weeks. Unless they are white label solutions like what RentCubo provides we recommend you to stay away from them.
The length of time it takes to develop an app is also influenced by your budget. A limited budget will cause your developer to rush their work, whereas a large budget will ensure that enough time is spent on development to give no room for error. Finally, each app developer/development business will have slightly varied timescales dependent on their talents, resources, and procedure.
What Platform Should You Go For?
The platform you choose is critical, and you must get it right or your app will fail miserably. Although there are numerous mobile app platforms available today, the two major competitors, iOS and Android, continue to control the most portion of the mobile app industry, and your option will most likely be between the two.
If you’re looking for a quick and lucrative return on investment, iOS is a superior option. The Google Play Store is overflowing with apps, giving users a plethora of choices. They’re less likely to pay for apps and prefer to consume free material. Although this may appear to be a broad statement, it is frequently the case.
It’s a no-brainer on this one. Your platform choice is heavily influenced by your target audience. When there is a demand for your service, it is much easier to market it. Demand creation is a long shot, and not everyone is ready for it unless they have a game-changing concept to convey. In the world of mobile apps, this is even more true. Given the evident preponderance of iOS users in the US, Canada, Australia, and Western Europe, iOS will show to be a far superior alternative if your target audience is largely located in those regions.
Another issue that influences your platform decision is your app budget. It’s self-evident that the length of time it takes to develop an app correlates with its cost. The time it takes to develop an iOS app is roughly twice as long as it takes to produce an Android app. So, if you’re on a budget, choosing a platform that requires less time makes more sense.
Each platform’s development is distinct. With Android, there are a lot of devices and versions to consider, thus there’s a lot of fragmentation to consider. Because of this fragmentation, developing an Android app takes longer than developing an iOS app. Making programs compatible with various versions is a difficult task for developers.
The current version of iOS has a very promising adoption rate. Almost 80% of consumers upgraded to iOS 10 shortly after it was released. When you consider that the Android community has only adopted Nougat at a pace of 7%, it’s clear that things are cluttered in the Android world.
Why Should You Develop a Car Rental App?
Several industries have benefited substantially from the use of mobile apps in their businesses. The automobile rental business is no exception, with well-known brands such as Hertz and Turo already having an impact. You can build a similar auto rental software that allows customers to book or hire a car with a few taps on their cellphones from anywhere in the world, making it quick and easy. You can build a brand and obtain a competitive advantage by establishing yourself as a car rental service provider and providing users with some special services.
How Can You Make Money From a Car Rental App?
In this revenue model, car owners who have registered with the service provider receive bookings through the latter’s app and must pay the service provider a percentage of the total booking cost. Car owners frequently employ drivers for this purpose (to accept daily reservations) and pay them a monthly fee.
This revenue model involves the firm or service provider purchasing or leasing a large number of automobiles and assigning them to registered drivers. On reservations, the firm collects the entire basic fee and gives the drivers a monthly compensation.
Ensure that the app is elegant from a UI/UX standpoint for a pleasant overall app experience. Stick to a limited color palette, stay current with design trends, and avoid becoming overly creative. Make it spectacular, but keep it simple at the same time.
The automobile rental industry is flourishing, and demand for car rental services is skyrocketing. You would not only be able to capitalize on the increased demand for car rentals, but you would also be able to fill a market need by developing a car rental app.
Everyone will be quite familiar with car rental software and the supremacies it has bestowed on the entire human generation. Exploring anonymous locations in a rental car provides a myriad of advantages. You can get far off the beaten path, deny spending time searching for public transportation, or constrain your itinerary due to a lack of transport. The car rental market is proliferating at a staggering pace as it is providing extreme flexibility while using.
Importance of APIs
The car rental system may be integrated with a variety of APIs to allow consumers to choose from a large range of vehicles depending on price, the number of passengers, and convenience. The role of automotive APIs in building a coordinated smart car ecosystem is unavoidable. A well-designed coordinated automobile platform can accommodate a wide range of in-car technologies, from entertainment to in-car safety features, navigation guides, and so on.
Car booking APIs give you direct access to all of the data you’ll need to build a cutting-edge website or app for Android or iOS. Customers may take advantage of the cheapest pricing on automobiles from global providers when rental car software is coupled with APIs.
If you’re thinking about starting a car rental business, there are a few things to consider. Apart from comprehending the entire starting procedure, you need also be aware of the systems or XML Travel API that must be connected to your company in order to make your job easier. Because your present business is based on the evolution of digital technology, it is critical that you incorporate features that can help you achieve your goals.
Top APIs For Car Rental Software
This is a leading travel technology solution provider with over 37 vehicle rental companies and over 40 thousand locations, covering a wide range of travel sectors. Sabre offers a variety of car APIs for finding, selecting, and booking vehicles from their inventory. The services provided by this set of interfaces can be split into several categories.
City codes and vendor searches were used to locate car rental locations.
- Vehicle availability, types, and rates
- Booking cars and modifying those reservations.
This API can also be used to find the car rental routes, especially
- Geo-search using custom radius
- Polygon search in a precise area returning specific and relevant results
- Distance betwixt the locations
The Amadeus car and transfers enterprise APIs connect over 69 worldwide vehicle rental operators with regional and local businesses. You may retrieve information about locations, costs, available time, and reservations, much like with the Sabre API. Amadeus offers transfer services in addition to car rentals, allowing you to choose the type of vehicle and its class.
The Travelport XML API collects data from Galileo, Apollo, Worldspan, and Axes, four GDS inventories that the Travelport represents. These provide a variety of information for car searching and booking:
- Search for availability, images, details, and pricing
- Vehicle reservation and further operations with it: modification, retrieval, and cancellation
Despite the fact that Skyscanner’s primary purpose is to search for airplane tickets, the aggregator now offers a car hire API. Skyscanner vehicle rental is a global car rental marketplace. You can gain the following advantages by connecting to it via API.
- Car search features(eg, broad search queries)
- Real-time streaming of car prices
- Browsing ability and live car price feeds
The API of the Priceline Partner Network, among other things, provides for the retrieval and booking of rental automobiles. The API responds with dynamic automobile rental data targeting over 180 countries, which is supplemented with Rentalcars content. You can use their APIs or create your own white-label booking product.
Smartcar is a technology company that allows third-party apps to access vehicle data via API connections between car computers and third-party apps. The service’s primary goal is to provide remote fleet management. However, the API can also be used for car-sharing.
Trawex APIs connect clients directly to their car rental booking software, allowing OTAs, tour operators, and travel management organizations to offer customers vehicle rental deals in over 70 countries. A booking engine, a reservation system, automobile supplier aggregation, and channel management are all part of the Trawex car booking platform.
There are many features for TraweX car APIs
- Car availability tracking
- Vehicle booking with instant confirmation updates
- Pick-up and drop-off options
- Live price feeds
- Fee customization depending on location
The automobile data application programming interface (API) allows a vehicle application to communicate with other apps or platforms. VINs, manufacture details, vehicle characteristics, prices, and a variety of other data points can all be found in such APIs. The servicing and repair of automobiles is another key application of automotive data APIs. Repair shops used to maintain libraries of repair manuals that were updated with each new model before automotive data APIs.
What is the biggest worry that every company has? Increasing profit margins. The car rental industry is no exception. The rental industry is also focused on increasing revenue. As we all know, as infrastructure projects and competition grow, more firms are opting to rent rather than buy the car they need. Renting a car rather than purchasing it outright allows businesses to save money on capital expenditures while still gaining access to the most up-to-date technologies.
While this development is positive for car rental providers, it also means that competition is increasing. Customers who rent cars frequently contact experts at RentCar for assistance on how to increase their revenue. We’ve been advising our customers on what measures to take and how to use RentCar, our entire car rental software solution, to increase revenues for years.
In this blog, we’ll look at how a car rental software may help you deal with some of the most typical issues faced by rental organizations. An effective car rental system will get you back on track, from car lifecycle management to accurate and timely billing. Here are a few ways a proficient car rental software like RentCar prevents revenue loss.
Mitigate Rental Car Non-Availability:
The fact that the car is not available for rent because it is being fixed or maintained is one of the factors that can affect revenue flow in the car rental business. Customers frequently complain about the car that has been rented by businesses. As a result, the vehicle will need to be serviced or repaired, delaying delivery to the next customer and hurting revenue projections.
From the moment a vehicle is purchased until it is scrapped, car rental software helps you to manage the asset’s life cycle. You can make the most of the car’s availability by using this option. You could, for example, plan repairs and maintenance during slow periods. Alternatively, you can schedule preventative maintenance by looking at the vehicle’s performance over time. Taking these steps will boost car availability and, as a result, increase revenue.
Another significant impediment to increasing rental car revenue is the time it takes to pick up an asset from one customer and deliver it on time to the next. It is critical to arrange the vehicle’s rent without overlap or excessive downtime. Late pickups might cause deliveries to be delayed, causing you to lose revenue. Transport of a car is another cost issue that must be carefully considered in order for the rental asset to be viable.
A graphical planning board is included in many car rental solutions. A planning board will show you where each vehicle is located and how it is used. You can utilize this to make the availability of each vehicle more efficient. You can assure that you are not overscheduling, losing out on maintenance, and that the car is not idle by having a thorough picture of the operators, the asset position, and even the movement schedule.
Capitalizing on Car Rental Packages:
Upselling or cross-selling assets and amenities is a common strategy to make cash in various rental settings. You may, for example, lend a luggage rack to a customer who is renting a vehicle for a long trip because the two are frequently used together. Another example is providing modern amenities to a customer who is tech savvy. There are numerous instances where you can increase your earnings but are unable to do so because you lack the necessary information.
When you rent out cars to consumers, you must ensure that they are aware of and agree to the rental and usage terms. Some delicate materials, for example, must be handled with care owing to wear and tear or other damage, thus they must be limited. However, because the customer’s location of usage is usually to far away places, you have no way of tracking usage. Rough and overuse of your vehicle results in lost revenue as well as increased wear and tear on the vehicle.
Car rental software can help you maintain track of the movement of your vehicles from one location to another using technology like the internet of things (IoT). You can determine if the customer is utilizing the vehicle in accordance with the agreement by tracking its movement and usage.
Due to a variety of macro factors, the vehicle that is in demand in the rental business is always changing. Increased vacation needs, for example, may raise demand for certain types of cars. Another element that influences the need for specific vehicles is technological advancements. There could be other variables as well, such as current trends, quality constraints, safety precautions, and so on.
Information has become the economy for decision-making in today’s world, and having business intelligence from within and across industries can be critical to your company’s success. By delivering business intelligence, your car rental software can assist you with this issue. You may use this data to gain insight into the assets and rates that are in higher demand, allowing you to maximize your revenue.
From your back office to your warehouses, your field crew, your operations team, and other teams, the rental operation has multiple touchpoints. The personnel that are out in the field, delivering or picking up the cars, are frequently the ones who receive a lot of data and updates from the customer. However, because the field team may find it difficult to return and complete the documentation, these updates and modifications may not reach the back office in time for action to be taken.
Today’s car rental software lets the many teams participating in the rental process use their preferred mobile devices to access the solution. This means that, rather than relying on their recollections or scrawled notes, field teams may update changes in real time using their mobile device. Extra use billing, service requests, and any other changes that the client wants or has made can all be updated to the back office at the same time, allowing them to act quickly.
Technology has had a big impact on how the equipment rental industry operates today. Many of these improvements can be used to boost revenue while lowering costs. Are you interested in learning more about how equipment rental software might assist you? Contact RentCar and we’ll provide you with the relevant details.
If you are a coworking space owner, you might have encountered diverse obsolete circumstances where you would have to manage everything extremely efficiently and professionally and at the same time, you are aware of the fact that how strenuous the task is.
However, hiring an expert will also result in the wastage of an adequate amount as it is not practically possible. So what is that indispensable element that is essential to eliminate all this chaos? The ideal solution is coworking management software.
In this digitized contemporary era, where everything is controlled and managed by effective software, it is absolutely unethical to favor millennials to do every aspect of the business. However, fortunately, there is ample software that has been developed to efficiently manage the coworking space journey. The prime question is how to pick one?
What is Coworking Space Software?
A co-working space management software is exactly what it seems like. It is an online functional system that is developed to support the owners of coworking spaces in efficiently managing their coworking space.
The features of a coworking space management software should include automated invoice generation, room and desk booking, or even automated contract signing and distributing.
Depending on what features your coworking management needs, you can select software that perfectly suits your business.
A coworking space management software must become an essential element once you start working on coworking space as it requires managing different aspects of your space efficiently.
A coworking space program allows you to delegate a duty that can be easily automated to the software itself, freeing up time in your schedule to focus on making coworking space selections. This will not only provide you with more time but will also bring you revenue in the long run because the organizational part of your business will be taken care of for you.
Strategies that should be followed while choosing a Coworking Space Software
Identify the requirements of your coworking space
The needs of your coworking space will act as a guide while choosing the software that your coworking space requires. For instance, if your coworking space is large and you have to manage numerous clients, then your option is to select software that can work with booking, billing, invoices, communication, and so on. The solution is to find the area in which you need support and select the optimum software that can serve all these needs.
There is multitudinous software that is extremely difficult to manage, control, and interpret. This is highly important to select software that is easy to comprehend, manage and control. There might be certain software that has included unessential features that will make you feel more devastated. Try to select the supreme that is useful and effective.
Facilitating sufficient support to customers is a prerequisite that should be taken into serious consideration. Chances are high where you might be working with software for the first time, so you may end up with many complex queries, problems that can run into, etc. The company you choose for your coworking space software should have a good technical support system in place and it should be compulsory to get a good onboarding process. In addition to that, significant importance should be given to a free live chat support system.
Cost of a coworking space management software
The cost of the software is obviously a dominant factor while choosing one. Pricing will have a significant difference based on how many members you have, how many locations you possess, or both. Generally, pricing starts at 100 members and one location and can be in a definite period either monthly or yearly.
Research for the best coworking space software
Proper research should be done before selecting software that suits your coworking space as it is the most vital element of your coworking space, and one of the greatest ways your members will recognize you.
Coworking space software rankings
This is another important requirement to keep in mind while selecting software. There are times when certain coworking websites or blogs will generate rankings of different software to help you choose the best one. This is an apt tool for you as you will be able to compare different software and see all the features of them in one place.
The coworking space management software that you chose will determine the future of your business prospects. Through the coworking space software, you will be able to delegate your tasks effectively as well, since it can create a tremendous positive impact on your earnings as well.
Choosing the right software is a critical procedure for your coworking space to expand, succeed and evolve.
Businesses from all industries are feeling the effects of the pandemic. In many locations, the threats and problems that have arisen as a result of the global lockdown are vast and insurmountable. Several sectors are on the verge of shutting down, with pay and worker reductions becoming the norm.
This means that sections that are unable to deal with the sudden shutdown will be brought to an end, while those that adjust to the new situation will remain operational. However, while this is true, the rental automobile sector is a different situation.
As businesses reopen amid efforts to restrict the outbreak of Covid-19, the need for mobility services is more important than ever. With individuals seeking to avoid public or shared transportation to avoid contracting the virus, and the idea of purchasing a private car taking a backseat due to the current recession, furloughs, and pay cuts, the demand for self-drive vehicle rentals will undoubtedly increase, according to the chiefs of self-drive vehicle rental companies.
COVID-19 has unquestionably altered the fundamentals of our economy. What was the norm until 2019 has become obsolete in recent years? As a result, each industry must adjust to the new standard. To that aim, the automobile rental sector is well-equipped and ready to serve its consumers.
Car subscriptions are predicted to experience an exponential increase in demand, especially given the present recession. Car subscriptions can be a better choice than ride-hailing, as well as a more economical and faster manner of getting a car, providing a secure personal mobility replacement. You can read all about it in this elaborate blog by RentCubo.
The Growth in the Midst of Pandemic
Carpooling or sharing transportation is a thing of the past. The most major emphasis during the pandemic-induced lockdown has been on self-quarantine and maintaining a social distance. There is an increasing sense of unease about the cleanliness and security of one’s immediate environment.
This is when the rental car comes into play. People are resorting to rental automobiles for transportation, rather than the pre-pandemic habit of sharing with other passengers. It’s not as if the rental program didn’t exist prior to COVID. Even before the outbreak of the epidemic, it was booming.
The global financial crisis has only encouraged the uptake of rental automobiles to unprecedented levels. It actually works pretty well for automobile rentals on a macroeconomic level, because you can deliver something that is sanitized, clean, individualized, private, and inexpensive.
The Advent of Subscription Model
In recent years, the subscription service has become the image of the car rental industry. This concept has been popular, especially among the younger generation, because it allows customers to enjoy brief ownership of a vehicle without having to worry about additional expenses such as service and insurance charges. Service providers are going to great lengths to guarantee that the highest levels of safety and hygiene are maintained.
Additionally, they are utilizing cutting-edge technologies like AI and ML to integrate elements such as keyless entry technologies, 24×7 chatbots, and more to provide clients with an exceptional experience. Furthermore, even front-line workers are required to complete rigorous safety training.
Car membership is essentially the most cost-effective and time-efficient method of obtaining a vehicle that is also a safe mode of personal transportation. Imagine having a hatchback or SUV delivered to your door in just one day, with no money down! We offer a variety of subscription choices, but the most popular are one, three, and six months. Car memberships will continue to develop and expand into more flexible arrangements with longer lease terms of 12, 24, or 36 months.
The Demand in 2022
Now in the post-pandemic era, the rental automobile sector has advantages to exploit, fueled by unprecedented demand. The main reason is that car ownership is not without its drawbacks. Maintenance costs and issues like insufficient parking space, variable fuel prices, and growing insurance rates must all be considered. All of these annoyances are ingrained in the thoughts of people who are considering purchasing a new vehicle but are turned off by the prospect.
As a result, the passion for buying new cars has waned in recent years. With an ever-increasing population in metropolitan areas, a shared mobility solution appears to be the only logical step toward a long-term answer. Furthermore, the pandemic has caused numerous people to lose their employment, putting a strain on their finances and limiting their spending to necessities like food and pharmaceuticals. Subscription models are a more convenient option because they have shorter lock-in periods and low prices.
Furthermore, the focus has shifted from ownership to experience. A seamless and safe experience can be had by subscribing to a car. Additionally, subscription-based models are ideal for those who enjoy experimenting with automobiles and prefer diversity because they do not require you to commit to one vehicle for an extended length of time.
The subscription model, in fact, is the most effective approach to retain confidentiality, flexibility, and hygiene. As a result, a subscription to a rental solution is the most sensible option for anyone wishing to enjoy vehicle ownership without paying additional fees. Furthermore, companies in the rental industry are going above and above to provide clients with a superior user experience. They’re employing technology to give their wide range of services a facelift, enabling the subscription model a perennial answer even in the event of a pandemic.
These days, rental cars are among the hottest industries. For people who require a vehicle on a temporary basis, hiring a car is often a cheap and practical choice. Car rental is popular not just with vacationers, but also with businesses.
Due to a drop in new car sales in recent years, dealerships have opted to rent out the automobiles on their showroom floors as a lease stream. With the Coronavirus wreaking havoc on the automobile market, it’s no surprise that car dealers are turning to rentals to make ends meet.
Given the uncertainty around how the epidemic will progress and its impact on an already unstable economy, it’s hardly a surprise that more dealerships will get on the rental bandwagon. The American Car Rental Association’s house organ, Auto Rental News, recently released a factsheet for dealers who want to use that rental option.
Now, the car rental industry is expanding with a large fleet that includes a plethora of parameters to consider before starting your very own car rental business. In this blog by RentCubo, we will take a deeper look into one of the most wanted and profitable rental solutions.
Car Rental Software and their Benefits
Leasing a vehicle for a specified period of time can be an excellent alternative for businesses that want long-term automobile rentals. Companies prefer to hire an automobile for a minimum of three years.
Flexible pricing and usage:
They can save money on monthly fees that may not have to pay for customizations upfront. Businesses can also take advantage of affordable maintenance packages and extensive services from a variety of commercial car rental companies. However, due to inefficient use, personnel turnover, or inadequate vehicles for their intended function, some firms find their rental automobiles sitting idle.
Many businesses lease or hire cars before even determining whether they are fit for its intended purpose. It’s critical to evaluate car utilization in terms of its purpose, from passenger capacity to fuel economy.
Every company has its own set of requirements when it comes to selecting a vehicle. Every event necessitates a distinct vehicle type, whether it’s a business trip, a customer visit, or a workplace outing. Businesses can choose from a wide range of automobiles provided by business car rental firms.
You can be confident that your cars have a complete service and maintenance history when hiring a car for a company event or for a long or short length of time. The additional benefit of renting a car for a business over buying one is the significant cost savings. Savings on unforeseen fleet downtime, operational expenditures, and time spent on non-essential administrative chores are also included. When your automobile breaks down, the car rental company would take responsibility for the maintenance and service schedule, so you don’t have to worry.
When a company decides on a rental car service, they need to be able to get all of the necessary information about their reservation in one place. Most automobile rental companies offer a 24/7 customer support portal where you can arrange and manage all of your reservations in one spot. It also provides extensive information on the entire price of the car hire. It also allows you to extend your renting period.
Optimization of Car Rental’s Fleet Management
The days when fleet administration was done manually are long gone. Modern telemetry platforms are employed for this purpose in this current digital world. The needs of a car rental firm differ from those of other fleet businesses. As a result, selecting a management system that can effectively meet all of the needs is critical. Using car rental software in conjunction with a fleet management system can boost efficiency and production.
As new clients come to hire out vehicles, the rental car software deals with the registration process on an almost daily basis. With a huge number of applications to process, handling the registration process can indeed be difficult at times. Managers can check all of the information of the accessible cars and drivers before introducing a new customer thanks to the integration of a fleet management system.
The car rental company follows a set of norms and regulations. There are specific cars assigned for leaving the station, for example. Now the fleet managers want to make absolutely sure that the customers are adhering to the guidelines, and GPS navigation is one way to do so. The inclusion of the live tracking feature provides real-time information on the exact location of each vehicle.
A rental car software system that is coupled with a tracking system can assist in fleet maintenance. A complete car maintenance schedule can be performed in order of importance. As a result, the most deserving vehicles receive priority care, preventing major damage to their general health.
Sensors are used in the most recent tracking systems to set maintenance warnings. In the car rental system, this feature can be extremely useful. The user of the rental system can receive notifications for essential vehicle maintenance, ensuring that the fleet is in good working order.
Accidents are the most common hazard in the rental industry. They not only result in financial losses, but they also entail legal issues, making things much more problematic. Companies must assure not only the security of their vehicles but also the protection of their drivers. The fleet management system’s vehicle protection features come in help in this situation.
Car rental has been a popular option for businesses. The five reasons listed above demonstrate why hiring an automobile is an excellent solution for your company. It not only helps employees save money and time, but it also helps you stay on top of your obligations as an employer.