Imagination Waffle

Top New Ventures In The Ride Sharing Business

By Akshay Sharma January 2, 2017 Travel

ride-sharing-business

It doesn’t happen every day that you give keys to your car to a stranger and let them use it. But several ride-sharing services allow drivers to do just that. And people make good money from it too. These services work using ideas of sharing economy.

What Is So Special About Ride-Sharing?

Simply speaking, the sharing economy is a model where people can rent assets owned to someone else. And even though we have been living in a collaborative economy for years (think about thrift stores and coops), what makes the growth of the sharing economy possible is Internet.

The best part about this economy and services like Uber is that it guarantees middle-class Americans a unique access to entrepreneurship. What makes the growth of ride-sharing services so exciting is the opportunity to leverage existing assets (like a second car not it use) to create wealth for themselves.

The only barrier that can keep people away from starting to drive for Uber and other platforms is the absence of a reliable vehicle. So let’s have a look at real businesses that allow you to list your car for lease.

  1. HyreCar is like Airbnb for Uber drivers. They have car owners who have a car that they want to rent out, and they have drivers who want to start ride-sharing services and want to rent a car. Car owners just list their vehicles on the site and earn money from rentals.
  2. InstaCar is an Indian version of HyreCar. You can rent a car for an hour, day, week or even longer. They have advanced safety regulations and thoroughly check all cars available to rent. So whether you need a quick airport drop or multicity return, they have you covered.
  3. RelayRides is another successful example of a company that allows people to rent out their vehicles for as long as they want. The site shows recommended pricing for cars being rentals so that car owners don’t have to think about it. They also help car owners find professional photographers who can contribute to making great pictures for online listings. The company aims at making car rental easier than ever, and they have already developed an established network of car-sharing services in 49 states.
  4. Evercar is one of the newest companies that appears to help people rent out their cars. The company debuted in 2015 with 100 cars and 1,000 customers in the area. Now, they are present in many states, have thousands of cars that drivers can rent and even offer electric vehicles for environmentally conscious people.

Thinking About Ideas For A Start-Up? Join The Ride-Sharing Trend

Partnering with these services makes perfect sense for startups. They often implement the idea that instead of a huge corporation delivering products and services, they can facilitate the distribution of assets (cars) between individuals. So the concept of distributing activities works naturally for them.

Control Who You Rent And What You Get

Also, transactions are always performed electronically, and passengers can travel without cards or cash. Besides, users can check the driver’s profile and read reviews before renting out a car which gives users the ability to select the best fit and then share their opinion rating after the ride. Drivers with the lowest scores are automatically dismissed by ride-sharing sites.

Next time you read about Uber, Lyft or any other ride-sharing service remember there is a growing ecosystem of startups partnering with those platforms and renting out their cars to make the profit. By freeing up resources for innovation and reducing costs, ride-sharing companies do what they can to create an outstanding customer experience and allowing people thrive for the long term.

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Akshay Sharma

Hi! I’m Akshay Sharma. I’m a blogger at Imagination Waffle. I love to read and write about Fitness, Health & Lifestyle topics.
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