Rentrip Business Model- Working Model, Revenue and Insights
After a successful era of on-demand ride-hailing businesses, on-demand bike or bike on rent is a new emerging business idea that is in the limelight for all good reasons. Speaking about one such successful use case, Rentrip Business Model is here to stay.
In this article, let us discuss in detail the working model, revenue and insights about the underlying market opportunities. This will help in getting a clear picture about the business protocol and will help in getting a decision whether this business model is good to replicate or the market needs more sustainability for a futuristic investment of anyone else.
- What is Rentrip?
- Rentrip Business Model: An insight
- Revenue Insights: Rentrip
- Insights about Rentrip Business Model
- How to replicate the Rentrip Business model?
- Reasons to count Jugnoo as your tech partner!
What is Rentrip?
Rentrip is an emerging and industry player when it comes to discussing on-demand motorcycles on rent. The motor-bike rental based company has a huge collection of diversified two-wheelers on rent. Apart from rental, the motorcycle tours in India are also catered by Rentrip.
With a competitive pricing model, the customers can experience an exquisite experience by choosing a pool of bikes as per their specific requirements. In simpler words, you can access and avail yourself of bikes from the on-demand rental marketplace.
The customer-driven market has been getting good and steady experience over the past few years. This is why the Rentrip business model is expanding over a span of time. Primarily the business model has a pool of bikes and is active in 50+ cities. It is observed that in the coming time, the business is yet to expand and grow in other cities also.
Founded Date – Jun 24, 2016
Founder/ CEO – Agam Raghav
Rentrip Business Model: An insight
The on-demand bike business model works in two categories. It followed the business model B2B and B2C simultaneously.
B2b Rentrip Business model
Rentrip provides on-demand bikes for rent to various businesses in the market. The bike rental marketplace is quite popular among the other business holders and is a new segment to be catered to when we speak about the expansion of bike on rent mobility vertical.
The B2B business model focuses on catering the professional expansion/ collaboration with the various companies which are looking for rental vehicles for their employees. Post lockdown, offices are getting opened again and employers are offering rental bikes to offer the daily commute to the employees.
Rentrip B2B model leverages this portion of the market with its on-demand bike rental services. Startups, SMEs, Medium level enterprises and large scale enterprises are the most common target audiences.
The B2B Rentrip business model is limited to “ India” as the targeted demographic location.
B2C Rentrip Business model
One major business model of Rentrip is B2C. Here the services are directly redirected to the audiences/ end customers. This is one of the most popular business models which is highly leveraged by a major portion of the market.
The B2C business model acquires the young generation; commonly known as millennials as their target audiences. Speaking in detail about the target audiences, the B2C model supports the daily commute needs of people who are looking for a customised and economical trip. Apart from the daily commuters, the B2C model of Rentrip is quite a hit among the adventurous travellers who are looking for a reliable and economical mode of transport (Micro-mobility mode).
The B2C Rentrip model is available in India as well as some of the global regions.
Revenue Insights: Rentrip
There are major 3 streams on which Rentrip business revenue runs. Let us discuss all the 3 channels in detail.
Segment 1: Revenue Sharing Basis
This segment allows the stakeholders to purchase the bikes and offer them for renting purposes. The bikes will be registered with Rentrip and could be rented anywhere in India. 30% of the revenue will be shared with the assets investors every quarter. With a minimum contractual tenure of 5 years, this revenue sharing steam is a win-win situation for both parties.
This is one of the most prospering ways to keep your business growing in the market.
Segment 2: Rentrip Franchise
This segment allows an ongoing collaboration/franchise option to enthusiastic entrepreneurs. With a few guidelines, anyone can start the Rentrip franchise business in any of the locations. The Rentrip business model confirms a complete ROI over the investment in the upcoming 2 years. Hence, this Franchise option helps the company to build its presence in the untapped cities of the country without any effort.
Segment 3: Revenue with 1-time investment/ bike
With a minimum of 50,000 INR, you can get a partnership with Rentrip. A 15% interest will be paid on the total investment annually and the total interest will be credited with the desired ROI in the next 5 years. The bike-sharing module also helps in generating revenue within the 60-40 range.
Insights about Rentrip Business Model
After the success of on-demand ride-hailing businesses, there is no looking back for on-demand ride-hailing businesses. If you look at the businesses reports for the mobility sector, you will realise that now is the right time to invest and start an on-demand ride-hailing business at the earliest.
How to replicate the Rentrip Business model?
Congratulations on getting the right approach to kickstart your entrepreneurial journey with a perfect business idea. The business idea is yet to tap the true potential of the bike rental industry and bring some unexpected results.
To get started, here is the list of the things you might require:
- A hardware selection
- A software that can be integrated with the required hardware
- A team for managing the ops team
No matter on which scale you wish to start, choosing the right path can help you to enlighten the business idea with proper planning.
You can choose to contact our experts to get a brief overview of the working business model and how you can contribute much to the same.
Reasons to count Jugnoo as your tech partner!
Jugnoo is undoubtedly the unconquered name in the market when it comes to offering the technical suite related to software; much required for the bike rental business. Jugnoo can offer you a customised/ white label solution that can help you to bring the desired limelight.
We are a team of experts who can help you to set up your business and bring the desired results in no time.
To get more information about the software, feel free to get in touch with the team.