The reasons why consumers need a rental car can vary—maybe their own car is in the shop, perhaps they don't own a car and want to drive to a travel destination, and, of course, there is the need to rent a car when you have flown to another city.
Regardless of the reason, most consumers will - at some point in their lives - require the services of a rent-a-car company. Fulfilling that need can be a lucrative business opportunity for the right entrepreneur.View Rental Car Franchises
Revenue in the Car Rentals segment will amount to more than $18 million in 2017
Revenue is expected to grow annually at 3.7%, resulting in a market volume > $20 million in 2021
In the Car Rentals segment, the number of users is expected to amount to 80.2 million by 2021
By 2020, car rental revenue in the U.S. is projected to reach about $30.64 billion
The category of car rental franchises offers several diverse opportunities, from general use car rentals, to luxury automobile offerings to budget options. There are even rental agencies that specialize in renting motor homes, motorcycles or limousines. As modes of transportation and travel continue to evolve with technology, additional types of car rental franchises that specialize in more environmentally friendly car rentals are sure to grow in importance.
There are many avenues for success in the car rental industry. With the U.S. Travel Association’s latest Travel Trends Index (TTI), showing ongoing growth, the market for car rentals should also continue to increase to meet travelers demands. Potential franchisees should be open to considering niche market segments, too, as consumers express more of an interest in specialized offerings.
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