Airport car sharing for a greener planet
84% of minimum goal raised
Lead investor: Duncan Crocker |
Minimum Target £ 249,999 |
Minimum investment amount £ 10,000 |
Maximum Target £ 249,999 |
Maximum investment amount £ 249,999 |
ForestCar is an airport car sharing service. They offer car owners free airport parking in exchange for renting out their vehicles while they are away. They are called ForestCar because they invest a share of their revenue into reforestation programmes. The ForestCar mission is to eliminate the need for dedicated airport rental cars and restore global rainforests. Their service includes fully comprehensive vehicle insurance for renters and telematics tracking devices. They have created a unique insurance proposition in partnership with InsurTech leaders, with whom they are poised to launch later this year.
ForestCar connect car owners wishing to park at airports with renters wishing to access vehicles. In exchange for renting out their vehicles, car owners benefit from:- free airport parking, free cleaning, 20% share of rental revenue. Renters benefit from: great cars, great prices, great customer experience (no queues, no paper, no hassle). ForestCar's service also includes: comprehensive motor insurance, telematics tracking & 24/7 monitoring, breakdown cover and roadside assistance.
Car owners pay high prices for airport parking only to leave their cars idle while they are away. At any given time, there are around 160,000 cars parked at UK airports costing an average of £80 per week, which means UK car owners pay over £12m per week in airport parking fees. Yet at the same time, huge numbers of travellers arriving in the UK who need to rent cars put up with high prices and poor customer service from traditional car rental companies.
Like traditional car rental companies, revenue comes from fees paid by rental customers. Unlike traditional rental companies, ForestCar don’t need to own or maintain an expensive fleet of vehicles. This means ForestCar are able to eliminate 50% of the costs associated with traditional rental companies (28% vehicle depreciation, 7% fleet finance costs, ~15% ongoing maintenance, storage and repair of vehicles). They pass these efficiencies onto their users, investing heavily in customer experience and technology while providing lower prices and better service than traditional competitors and still achieving high margins of over 20%.
ForestCar connect car owners wishing to park at airports with renters wishing to access vehicles. In exchange for renting out their vehicles, car owners benefit from:- free airport parking, free cleaning, 20% share of rental revenue. Renters benefit from: great cars, great prices, great customer experience (no queues, no paper, no hassle). ForestCar's service also includes: comprehensive motor insurance, telematics tracking & 24/7 monitoring, breakdown cover and roadside assistance.
Car owners pay high prices for airport parking only to leave their cars idle while they are away. At any given time, there are around 160,000 cars parked at UK airports costing an average of £80 per week, which means UK car owners pay over £12m per week in airport parking fees. Yet at the same time, huge numbers of travellers arriving in the UK who need to rent cars put up with high prices and poor customer service from traditional car rental companies.
Like traditional car rental companies, revenue comes from fees paid by rental customers. Unlike traditional rental companies, ForestCar don’t need to own or maintain an expensive fleet of vehicles. This means ForestCar are able to eliminate 50% of the costs associated with traditional rental companies (28% vehicle depreciation, 7% fleet finance costs, ~15% ongoing maintenance, storage and repair of vehicles). They pass these efficiencies onto their users, investing heavily in customer experience and technology while providing lower prices and better service than traditional competitors and still achieving high margins of over 20%.