I came across a new company that caught my eye. It’s a company called Fun2Rent that specializes in the Powersports industry. What I found very interesting is the fact that the inventory they rent is not some huge fleet they have but instead it is bikes, ATVs, PWC, Sleds, and boats owned by individuals. I wanted to find out more so I called Shawn Gardner, the founder, to get the scoop.
“The way Fun2Rent works is owners of powersports vehicles/vessels list their toys on Fun2Rent.com and renters can then choose the vehicle they want, down to the year, make, and model. Not only do owners make money on their vehicles/vessels, renters save money (and garage space) by dealing directly with owners. Plus, as a renter you’re not locked into any one type of vehicle. If you want to go jet skiing one weekend and dirt biking the next, no one’s stopping you.”
That sounds great, but what about liability? “Fun2Rent also offers insurance for every vehicle/vessel listed on the site, so that tree stump you didn’t see coming while riding your rented ATV won’t cost you your paycheck for the next six months. For extra peace of mind, Fun2Rent also offers additional insurance options, such as vehicle recovery and roadside assistance. Also Fun2Rent allows owners to rate renters and renters to rate owners. This way everyone involved knows just who they’re dealing with.”
How does the owner get his vehicle listed on Fun2Rent? “It’s rather easy, first sign up as an owner, then add your listing with photos description and select available dates for rent then just click submit. We are looking for equipment in good condition and generally newer models year 2000 and up. Owners can list up to ten vehicles and every renter will send a reservation request which the owner will approve. Renter will make full payment in advance including deposit and insurance then the owner can provide the renter with their contact information for pick up. Fun2Rent provides every owner with 300k in liability coverage, rental form and pre/post inspection forms along with their free listing. Fun2Rent charges a minimal commission fee of 20% and pay owners 80% of all rental fees.”
Right off the bat I can see the benefit to both the owner of the vehicle and the renter. But will Fun2Rent hurt the dealer? “Not at all, there are two major plusses for the dealer. The first one is customer retention. Think about this, many of their customers keep the vehicle parked in the garage most of the time, right? If that parked vehicle now becomes a source of income that customer is more likely to stay a customer. Not to mention the additional service and maintenance needed because of being used more. The other way Fun2Rent will benefit the dealer is as owners earn money on their used equipment they will be more inclined to purchase a new vehicle or vessel, and renters will also see the value in purchasing new equipment. This may just be the jolt the powersports industry needs to boost sales. Have used inventory sitting idle? Rent out your used vehicles and vessels for additional revenue. And since we handle the insurance side of it the dealer is covered.”
What I really like about Fun2Rent is that it is a great example of thinking out side of the box. I need to point out here that Fun2Rent is a new company and is currently only serving Northern California as their test market. They have plans to roll out new markets in the near future so keep up with them. The best way would be to join their Facebook page, follow on Twitter or send an email and they will add you to their email list for updates (info@Fun2Rent.com) or 800-732-0971. Check them out at Fun2Rent.com
Bobby Franklin, CEO of DustyMoto
bobby@dustymoto.com
www.dustymoto.com
912-576-3101
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Looks like a good concept!
Donald, Thanks for the nice comment. Me, my attorneys, and our Insurance Broker have countless hours answering the thousand “What If’s”. There is another company who is currently changing the rental market place for autos with a similar business model, Getaround.com, our stories are very similar.
My story starts in Lake Tahoe California, when I wanted to rent a snowmobile, and the price was $350 a day, a high cost but I was still interested until this rental outfit wanted me to sign a waiver of liability. Now having just put 20% down on a home in California, I was not willing to risk all of this for a ride on a snowmobile. I could not believe that this rental company could not provide even the basic insurance. And with a ton of research I found that this was common practice. So I set out to lower prices, provide insurance and the extra benefit was I could help individual owners while providing owners liability coverage.
We are a small bootstrapped startup with a mission to help owners and renters across the US. We will actively seek our initial funding over the next few months to carry out our mission. And now I can rent at affordable prices, last Saturday was my first time on a Waverunner, after taking an online boaters safety course, I rented a boat from an owner on Fun2Rent. I must say It was truly Fun.
Thanks,
Shawn Gardner