In my city the exotic car rental business is booming. There is also a huge euro car following but no one is renting them.

-Business Model- My brother and I want to start a European car rental company starting on the platform “Turo”. We want to keep it to the high end race lines. BMW M series, Audi RS, AMG etc.. The plan is to start with a 2022 BMW M3 and a 2022 BMW M2. The M3 would rent out for $300/day and the M2 at $250/day. Both cars would have to rent for 7 days out of the month to cover the car payment and insurance.

*We’re not trying to quit our day jobs from this immediately. Mainly to build equity in the vehicles with hopes to grow a fleet. I will note that both our jobs are extremely flexible so handing off keys would never be an issue.

-Marketing- Although Turo is a great platform for the transaction process, there is nothing pushing these cars to the public. Our goal is to park the cars at as many high traffic places possible. Car meets under a tent inviting people to sit in the cars, valet outside high end restaurants, football/soccer games, social media ect… All promoting the rental using “Rent Me” labeled magnets with a QR code to the Turo booking page.

-Issues- Our main issue right now is getting approved for the loan. Both these cars are at the MSRP between $70k-$90k. Not looking to put any money down. Both our credit scores are at 700 with less than $2000 in debt. We both only bring in about $60k/year each. There is the obvious risk of mechanical issues and not meeting monthly rental quotas. Our brother-in-law owns a euro shop so we have a reliable mechanic at wholesale prices although these newer BMWs are pretty sound mechanically.

This would be my second company I am starting and would like to bring my brother on board.