Any opinion on car rental service business during bad economy time?
What is car rental is all about? According to wikipedia
A car rental, hire car, or car hire agency is a company that rents automobiles for short periods of time, generally ranging from a few hours to a few weeks. It is often organized with numerous local branches (which allow a user to return a vehicle to a different location), and primarily located near airports or busy city areas and often complemented by a website allowing online reservations.
Car rental agencies primarily serve people who require a temporary vehicle, for example those who do not own their own car, travelers who are out of town, or owners of damaged or destroyed vehicles who are awaiting repair or insurance compensation. Car rental agencies may also serve the self-moving industry needs, by renting vans or trucks, and in certain markets other types of vehicles such as motorcycles or scooters may also be offered.
During bad economy time, car rental service is a booming service, simply because during bad economy, people tend to lose their day job. Cannot afford to use their car and also if they own 2 cars, then they need to sell one simply because bad economy.When they cannot afford to buy a car, they will simply rent it out to a local car rental service for matters like returning to hometown and more.
During good economic time, people will also use their car as well. Car rental service is one of the demanding business regardless of bad or good economy. It is a recommended business to dealing with. If you can afford to invest in business such as car rental, truck rental and more, please do so as this business is one of the best.
For more info, you can check out this business that their owner is a friend of mine. Shah Alam kereta sewa and Kuala Selangor Kereta Sewa. Just visit their website for more info regarding their car rental service. This is the best business model ever.