Photo - InfinityCar
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InfinityCar

Car Sharing with an airport centric model

USA, New Jersey
Market: Transport
Stage of the project: Idea or something is already done

Date of last change: 11.12.2019
Min investment
$  150.000
Show contacts
Total required
$ 375.000
Rating
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Idea

Car share platform that allows for departing passengers at airports to rent their cars out to incoming passengers at that airport. The value to the car owner is that they can avoid expensive car parking fees at the airport and make money. The value for car renters is they get to choose from a variety of options for a lower base price as compared to traditional rentals with significantly lower associated rental fees. The serviceable market in the United States $23B for airport rentals. Car sharing has proved to be successful and growing in the neighborhood car rental model.

Current Status

Solidifying the idea, operations structure, cost structure, and business model.
Preparing to network with angel investors and pitch.

Market

$23 B airport car rental in the United States.

Problem or Opportunity

Airport parking is expensive and more than 2.5M cars sit idle in parking lots at some of the larger airports.

Additionally, for those looking to rent cars, price is an important consideration. Traditional rental cars can become pricey with extra fees and ragged on top of the base price.

Solution (product or service)

Develop a platform that allows for peer to peer car sharing in an airport centric setting. It allows for car owners to rent their cars out while they travel thus saving money on parking and making a commission off the rentals. The renters are able to save money on their rentals with competitive base pricing without the plethora of fees associated with traditional rentals.

Competitors

Direct
Traditional rental cars
Travel Car

Indirect
Turo
Getaround

Advantages or differentiators

The biggest advantage against the traditional rental car operators is that since InfinityCar won’t its own fleet of cars, there will be no costs associated with purchase and maintenance and no ownership of a large base of depreciating asset. Additionally there’ll be no need to own large labor force for fleet maintenance and facility management.

The differentiators against other car sharing models like turo and getaround would be that InfinityCar operates in an airport setting and not a neighborhood setting and allows for daily and hourly rentals.

The differentiators, that affect the customer experience, against Travel Car would be that InfinityCar allows owner driven pricing, daily and hourly rates, and no monthly/annual fees.

Money will be spent on

Developing the web and mobile app
Investing in the commercial auto insurance
Marketing Campaign
Onsite and Customer Service Operations
Legal

Team or Management

Risks

Traditional rental car operators may leverage their relationships with state agencies to make it tougher to operate as a car sharing operator.

Incubation/Acceleration programs accomplishment

N/A

Won the competition and other awards

N/A
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video