Founder: Henrik Stovring
Tell us about your business.
MyCarYourRental’s business model is best summarised by the following:
Joey’s Toyota is collecting dust in the carport. At the same time Kate and the family, who live down by the local dairy, need a rental car for the long weekend. MyCarYourRental provides a safe and secure Peer-to-Peer car rental service that allows people like Joey to rent out their cars to people like Kate.
It’s an innovative approach to the car rental industry that allows Kiwis to use their cars more efficiently. It is sharing economy at its best.
MyCarYourRental is solving the problem of thousands of unused cars sitting around New Zealand, and we’re reducing the number of new vehicles needed to be produced and imported to the country every year.
Who and where are your target customers?
Our target users are actually in three places, and they are as follows:
- Car owners that see the benefit of getting an income from their unused car, and at the same time doing something good for the environment.
- Renters (locals) that need a car for a shorter (or longer) period of time, and they can conveniently find one just around the corner.
- Renters (travellers) who are looking for a different car rental experience, where they support the local community and the environment at the same time.
How and when did you first come up with the idea for your business?
I came to New Zealand from Denmark in 2015 with an entrepreneur visa in my hands, 15 years of experience working with car rentals in my suitcase and a vision to give Kiwis an alternative to the traditional car rental industry.
Inspired by a blooming Peer-to-Peer car rental industry in Europe and other sharing economy services like AirBnb and GoMore, I created MyCarYourRental.
What are your three biggest unique selling points?
- We have a different innovative market approach.
- Flexibility for users of the site (both renters and owners).
- A unique approach to car rental and car ownership.
What are three things about your business that you are proud of?
- Numbers! More than 800 cars have signed up since I started!
- My users – they are really good and really get the concept.
- That I’m always coming up with new initiatives.
How do you market your business and what advice do you have for others around marketing?
Mainly social media (Facebook), but we also focus on being present in the real world. I think this is very important for an online business.
What’s been the biggest challenge you’ve faced in building your business so far?
The education of users to understand the do’s and don’t’s for sharing vehicles.
What is the biggest entrepreneur lesson you would like to share with other Kiwis thinking of starting their own business?
Don’t assume, just do it! Either you win or you lose – sorry, let me rephrase: either you win or you learn!