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I am considering buying a couple of these type of cars and setting up a rental service. Very similar to what you would find in New York or Vegas. Of course, i would have all my ducks in a row and have the insurance and liabilities in stone before renting out such a car.
To be honest, I don't think there is a market for that in the Twin Cities. I can maybe see Vegas, but even so it would take you years to pay for the costs before you ever made a profit. Just my humble opinion. Good luck with whatever you decide to do.
AJ - I thought there was a sports car rental place. cheap travel tickets from canada be darned if I can remember the name but I've seen ads for it at the car wash (Gerrings) in Wayzata. even if they've gone under, might be worth picking their brains as to their experience
For me, I have never been interested in renting from these types of luxury/exotic rentals since none of the cars (including the ones you have listed above) cheap travel tickets from canada appeal to me. They are nice, but if I can afford to rent one of these then I probably own something similar... thus not out of my reach. cheap travel tickets from canada If I were to rent, it would be something that is out of my reach like a newer model F-car, Lambo's, R8's, and so on. Like the cars that WORLD CLASS DRIVING have on their fleet. But then you are looking to invest much more in your start up costs.
My neighbor cheap travel tickets from canada owns a 360 stradale and only drove it a few months and did not like it. His brother rents it out for him at his exotic rental company here in San Diego, he says he makes about 24k/year on it. So for how much that car costs today, it would take 4 years to make a return on your $.
As for insurance, i need to double check with my agent the specifics of age limit. while i do know there are some parents who rent their children nice cars for special dates, its a risk i will have to take. most of the time, the cars will be fine as i would expect the renter to care for it as if it were their own. i mean, they will have to put down a deposit of course and the contract would be iron clad and they know if they screw up, their *** is on the line.
Target clientel would be the 25 and up. The typical business men in town looking to impress clients, etc. Weddings and or proms (doubtful). special occasions or even gifts to a fellow car enthusiasts. The accessibility to drive something that someone may NEVER have the chance to own is a rare thing these days. you have to fly to Vegas or the other attractive cities to do so, but no chance here at home. And its not like you can go to your neighbor and say, hey buddy old pal, can i borrow your 80K porsche and hot wife and take em' both for a ride . It just doesn't happen.
Ultimatley, the goal is to have 10 or so cars, including a full line of luxury SUV and exotic sports cars such as f-cars, lambo, aston, etc. But this step is years down the road and assuming the economy is picking up, etc.
And i actually do believe there is a demand. There are a couple responses in my thread over other MN boards where people have said, where were you X times ago, i was looking for a car, etc... i don't need to make a killing on it at first, but it would pay the bills of owning the car and saving up to buy more and expand the business.
No one in town does this currently, but it did exist in early 2000. they have been out of business for a while. I think it failed b/c of the lack of advertising. The only ads i saw were the cars literally parked out in front of Billabong in Bloomington cheap travel tickets from canada off Amercian Blvd (by Feldmanns). Personally, cheap travel tickets from canada my advertising would be on Craigslist, Cars and Cafe events, Track events, driving the car daily (gf works dt st. paul and does the morning and evening commute during rush hour), word of mouth, or even a group on discount.
cheap travel tickets from canada Its going to be some work and capital investment. I can spend the time needed as my other business runs itself with minimal time usage on my part. i am exapnding that as well so thats why i am limited to 1 or 2 cars for now.
zzzspeed: yea, exactly why i would have to keep with something low key on cost. a man that owns the cars you do, would not want to rent, i understand that, but there are plenty cheap travel tickets from canada of guys who make the money, but have a family and cannot justify spending on buying the car. Yet this gives them the opportunity to take the wife on a night out on the town without the ownership part. but thank you very much for the info, it is beneficial.
I do have a family, but you are right about most guys who have the money are not willing to spend it on owning a high priced car. I wish I could just drive a cheap econo car and save my money. I have actually tried that and then all I think is now I can buy that nice car with all this extra money .
I never wanted to own, but always wanted to drive a GT3 / GTR / r8 / Aston Martin / Gallardo / F430. I know they wouldn't fit the dual lifestyle I create for my sportscars (kids, cheap travel tickets from canada DD, groceries, cheap travel tickets from canada ect.) like my current cars but they would definitely interest me for a full weekend rental.
I wouldn't be interested in renting anything on your list though... all too daily driver-ish and none would accomplish anything for me. If I were writing an exotic rental off as a business expense in lieu of renting a chevy malibu when I went out of town, I would want more fun factor.
Funny I found this thread. I was just looking into renting an exotic for my wedding next year for 1-3 days. To no avail though as I noticed that Minneapolis doesnt cheap travel tickets from canada have any exotic car rental companies. I think there is a market for it in TC but couldnt call it as far as how BIG of a market. I think with the proper advertising it would be a great opportunity to fill a niche market. YGPM.
thanks for your thoughts... I have been discussing with a guy who owns the only rental cheap travel tickets from canada shop in MN. he's been in business for 2 months, has 3 cars rented out. overhead is low since they are kept at his home, he leases the cars, and only him as a operator. he has a business policy with liability coverage as insurance. the renter's insurance covers the cars. Theres a LOT of details that go into this obviously and i am aware of 95% of it. Not going to display those things on a public forum obviously.
As for the car list, u are correct, those type of rental cars need $1m in capital to even start. However my goal is NOT to do them type of cars. I am shooting for simple cheap travel tickets from canada cars, ie older M3, Lotus Elise, Escalade, cheap travel tickets from canada S500 benz... cars that are in the 25-25K range. Goal is to start with 2 or 3 cars and see how it goes.
This business would be thru a private dealership that i am good friends with. We can buy the cars at auction, keep them as a car ready/available for sale. The bank can finance us up to 75% of the value of the cars. So realistically, out of pocket won't be too bad. The loan payment would easily be covered in just ONE time the car is rented.
time share ownership is a good idea, however not yet. we don't have a consistent clientel. If/When we have cars rented out by the same person over and over, then this is something def worth looking into. But in the mean time, we can offer a package deal, rent the car for 10 days, can be used non-consecutively. this way, you pay about half the cost per day vs one full day rental.
Again, there is a LOT that is needed to be discussed... We'll figure it out, but its point is a part time job which is fun and helps out other people who may not have the means to have a nice car for their wedding or b-day or whatever...