Peer-to-peer car rental market place

Peer-to-peer car rental market place

Current Status Concept / Business Plan
Amount Invested 0
Funding Required RM3,000,001 to RM4,000,000
Description Roadaz is a peer-to-peer car-rental marketplace. It provides an online interface through which private car-owners and small, locally owned rental operators can rent out their vehicles, allowing them to set their own prices and availability dates, as well as selecting who they rent their cars out to. Roadaz takes a 25% service fee on all transactions from private car owners, and a discounted 15% from small operators via the app.

The concept of peer-to-peer car-rental derives from similar proven systems such as AirBNB, Turo.com (US) and Drivy.com (EU).

Business Opportunity The current online car rental market in Malaysia proves to have the following issues:

– Limited fleet of vehicles causing shortages during peak times, ie. weekends and holidays
– Not user-friendly and provide little support
– Unreliable and costly
– Tourists look to user reviewed resources, eg. TripAdvisor and AirBNB

Roadaz aims to take a percentage of this market by providing the following:

– Unlimited fleet, providing a wide range of vehicles across Malaysia and surrounding markets
– 24 hour support system
– Easy-to-use reliable and familiar online booking platform
– Cheaper rental rates
– Cars and their owners will be reviewed by previous renters providing transparency for future renters
– All members are strictly verified and rentals insured through our comprehensive policy

Market size:

– Malaysian car rental market Est. yearly revenue: US$910 million
– Malaysian online car rental market (15% Market Share*) Est. yearly revenue: US$137 million

Capitalising on Small Local Operators (5-50 vehicles)

– Small operators make up 60% (US$546 million) of the Malaysian rental market
– Lack online infrastructure and support systems
– Inadequate budget for marketing

By partnering with the smaller operators Roadaz can control a larger percentage of the market by offering the following:

– Online booking system
– Discounted commission on rentals (15%)
– Large marketing budget
– Online and offline support
– Roadside assistance
– Vehicle tracking

Revenue / Business Model Roadaz works on a basic commission model:

– 25% on all private rentals
– 15% on all small operator rentals

Alternate income sources:
– Affiliated partnership offers
– Travel insurance

Management Team CEO- Tunku Khairil Ibrahim
Successful entrepreneur within the hospitality sector with 10 years Managing Director experienceCTO – Milan Milosevic
Over 10 years experience in Web Development/Design and e-commerce platforms with mobile integration

Advisor – Erman Akinci
Director of Business Development – CATCHA GROUP

Company Background Founded in August 2016, Roadaz (part of the Fixya Solutions Group) is a small locally managed business that employs a team of 5, with partnerships within Malaysia and internationally with the following companies:

– Technoduce India (Application development & support)
– AIG (Insurance Provider)
– AAM (Roadside Assistance)
– Katsana (Vehicle Tracking)

Traction:

– 80% completed web app
– Native mobile apps in development. Estimated launch: 30 days after web app
– 150 registered cars pre-launch

Funding Milestone Asking Investment: MYR4 million investment in return for 25% equity

Capital Usage:

Marketing & Customer Acquisition

Initial 6 months strategy
– 25% on aggressive campaign focused on customer acquisition
– 15% on inventory acquisition

Next 12 months strategy
– 12.5% customer acquisition
– 12.5% inventory acquisition
– 5% general brand awareness

Salaries & New Hires
– 20% Support, sales and admin staff
– 5% Founder salaries

Capital Expenses
– 5% Office setup per market

Growth Strategy:
Milestone 1 – June 2016
Finalise and field-test web and mobile apps

Milestone 2 – July 2016
Initial launch across major cities within Malaysia with 250 registered cars

Milestone 3.1 – July 2017
Expansion of customers reaching 1000 available cars & 19 000 registered users

Milestone 3.2 – July 2017
Regional expansion into following markets:
– Cambodia
– Vietnam
– Indonesia
– Thailand
– Implementing airport drop and go facilities

Milestone 4 – July 2018
– 5000 cars
– 95 000 users

Milestone 5 – July 2019
– 15 000 cars
– 285 000 users

% Equity Allocation 25%
Company Name Roadaz
Website/Facebook http://www.roadaz.com
Business Address 67 Jalan Telawi, Bangsar 59100 KL
Contact Person Milan Milosevic
CAPITAL.MY