Due to the continuous growth of the on-demand technology in the market, car rental apps have become as common as social media apps. The increase in demand for car rental applications have shifted these apps into the category of a necessary one. A car rental solution not only emerge as a source of convenience for users, but also as a source of income for the service provider. But, from the business perspective, it is essential to know the car rental app development cost to strengthen the business idea.
Since their launch, the car rental apps are growing like wildfire in the market. The main reason behind the success of car rental solutions is the convenience that they provides to users.
Entrepreneurs are showing a huge interest in car rental marketplace development since the demand is phenomenal. But some entrepreneurs are not aware of the end-users needs and also the problems they are facing to build the car rental marketplace platform.
Types of car rental marketplace
There are two types of car rental marketplaces,
1. Car rental business to customers
This type of marketplace is that the car rental business directly renting their own cars to the customers and another is the platform that connects car owners with the person who needs to rent a car.
2. Peer to peer car rental
It is also known as people car sharing and the process where existing car owners make their vehicles available for others to rent for a short period of time and also earn some money out of it.
It removes an intermediary who connects consumers to product or service providers. The car rental marketplace platform provides lower service cost, enables faster transactions, and also convenient for both the providers and also users.
Learn more about peer to peer car sharing business and its benefits to grow your business.
Business model
Choosing the right business model for the car rental marketplace helps in generating good revenue and also business growth.
1. Commission based
In the car rental marketplace, Commission based is one of the widely used business model. The fee will be based on both fixed or percentage of the transaction value to be cut from the amount paid by the renters. The marketplace platform owners can charge a nominal fee for every booking from the car owner and also the renter.
2. Featured listing
Another simplest way to earn revenue is from featured listing. Car owners who want to get more bookings can brand their listing on the homepage of the platform. It helps them to earn more revenue by highlighting the product in top search results. It attracts most of the users and also helps to drive more bookings.
3. Subscription model
It is an essential business model of the car rental marketplace that makes steady monthly revenue by charging car owners a recurring fee. It is most helpful that allows paying a fixed amount of money on fixed time intervals like a monthly or yearly basis. Subscription is a reliable model that doesn't charge a commission on car owners for every single rental they are getting. This model will lead to higher revenues and also customer retention in the marketplace.
Must-have features of car rental marketplace
Allow Users to Select Cars
Being a car rental startup, make sure you are available at the most needed places like airports. The most important ingredient for any rental service is vehicles. Opt for the mixture of fleets from an old Rolls Royce to the new Mercedes Benz. Turo app has over 800 models from where its online user can choose from.
The on-demand car rental app development works best when new customers are able to access a vehicle on the spot. For that convenience, you need to have proper fleet management and an accurate pricing chart with photo gallery. A filtered menu will give a clean UI experience and in return, it will increase user engagement.
So, consider this feature in mind when developing your own car rental app for your car rental business.
Filtered Delivery Options & Vehicle Features
With the digital wave, users are liking more personalized and niche filtration in mobile app development. The car rental app development must filter their pick-up locations like were to bring the car? Airport, downtown, or car for business travel?
To provide better car facilities, your car sharing app should have a "car feature" filter. By such filtration, you can come to know which features are opted by your users, when renting a car. You can also say, which features are "a must have" in their car for comfort purposes.
Being a car rental startup, keep in mind that your users love being pampered. Through mobile app development, your availability increases among the mass, which also means more responsibility and better on-the-go disposal services. Match your own demand-supply graph, and the goodwill will come through.
Unlock Cars Through App
The peer to peer car rental apps is now moving outrageously towards intricate app setups. One of which is "unlocking cars through the app." As said earlier, users like services at their disposal, this new feature allows users to locate, book, and unlock cars instantly from the car rental app.
Experiment with today's trending technology to get more exposure and provide the best revenue structure to the hosts that are earning under your car rental app model. So, whether you have 10 car rental owners, who are ready to give their cars on rent or 100 owners, make sure that your car rental app has this feature and allows users to unlock cars through the app.
Messaging the Hosts Anytime & Searches for Rental Locations
The car rental app development gives both the parties a 24/7 availability. A user can message anytime to the host for renting his vehicle. Messaging feature gives a formal touch to the app, rather than keeping a calling feature.
A geolocation map is an important feature for your car hire app. The map can become your usage in many ways, it can become a search option for users. The users can locate the car rentals through the "location list" feature. Maps can also be integrated to check the cars on-route availability, and status.
Calendar & Seasonal Pricing
This feature in car rental marketplace platform helps to set pricing for a particular day or season. It can be done by choosing the specific days in the calendar and also setting up the different pricing in the session price. The seasonal pricing option also enables car owners to maximize their revenues at a short interval.
Manage Cars
This feature helps to edit, view or upload listings according to the car types, descriptions, and also price without hassle so that the customers can able to search, filter according to their convenience. Anyone even without technical skills can easily manage the dashboard in an easier way.
Document Verification
This is an essential feature that helps to collect and verify all the required documents like driving license, insurance, and also vehicle-related documents. It has been one of the most trusted concerns for both the car owners and also renters which will avoid illegal problems.
Manage Reservations
It helps to keep track of all reservations and also control the process. With just a click, you can modify any booking details related to the booking date, time and also related to reservations.
Tech Stack Needed in Car Rental Marketplace Development
Technology has the greatest impact on how product works and also how it will perform in the future. The tech stack also influences the scalability of the product.
Choosing the right tech stack will lead you to the successful path in building the car rental marketplace.
Front End Interface -ReactJS
If you are building the car renting marketplace with the idea of adding numerous features in the future, then the reusable UI component should be your pick. For that re usability, java script frameworks like ReactJS, Redux and also React Apollo works very well.
React is the front end java script library for making performance-oriented user interfaces and also boosts the primary web page load speed, provides a smooth user experience too.
Back End Interface - ExpressJS
What users see as a visual interface is the result of the powerful involvement of back end technologies. Frameworks like expressJS, GraphQL, Sequelize will handle the heavy load easily.
It is a js run time environment that allows you to run an application and it is light, scalable and cross-platform to execute code. It uses an event-driven I/O model which makes it extremely efficient
Database- MySQL
The data storage platform should be efficient, scalable and also easy to maintain. The main thing you have to be clear is whether it is a non-structured query because of easy use and can also store data.
It is open-source, reliable, compatible with all major hosting providers, cost-effective and also easy to manage. Many online businesses are leveraging the data security and also strong transactional support offered by MySQL to secure online transactions, enhance customer interactions.
