Top 3 Online Rental Business Ideas

Across the world, rental business is a forefront business idea. Rental business can be online and offline. There are so many statistics that have proven that online rental business is an remunerative one. Reason behind the growth rate is because people are getting adopted into this rental lifestyle and preferring convenience, value for money. Rental businesses are undoubtedly a tremendous platform that provides a way to enterprise pioneer. We pick out the top 3 online rental businesses ideas that entrepreneurs can explore.

Online Vacation Rental Business:-

An online vacation rental business gives a prosperous revenue to the entrepreneur. Vacation rental business that enables you to run your own rental and reservation. Lets see the statistics of vacation rental,

• Vacation rental earns revenue in 2019: $57.669 billion (USD).

• Vacation Rental Revenue Growth 2019: 6.9%

• Projected Users of Vacation Rentals in 2019: 297.17 million

• User Penetration Rate in 2019: 4.0%

• Average Revenue per User in 2019: $194.06

Investing in vacation exposes you to lower risk than other types of real estate investment. Therefore investing in vacation rental is an excellent way to earn passive income. A survey done by HomeAway, which is a short term rental marketplace, found something interesting. People who rent their home or apartments for second homes earn more than 33,000 dollars annually in the rental revenue. The online vacation rental business reaches the targeted audience so the business grows along with it.

Online Space Rental Business:-

The advent and rapid expansion of the sharing economy are changing the space renting industry. Sharing a space or office for rental is a good approach to attract a large audience. Being sitting in a place the audience can view and book the appropriate space for their use via online. This facility magnetizes folks and raises the space sharing economy globally.

Space Rental Business is a good way to earn money in the world.

Online Hotel Booking Business:-

Hotel booking happens to be one of the fastest growing businesses these days. One major reason for this is that customers have full control over reserving rooms on their required date, with just a few clicks on the website. Though the business process is easy to set up and implement. And the booking status will come under hourly bases, not a day or weekly booking. Let see the statistics of online hotel booking business

• Online hotel booking is estimated to exceed $174 million across the globe in 2022

• 700 million people will make hotel room booking online by 2023

• $1.6 trillion was spent across the hotel industry booking in 2017

• 57% of hotel booking are now made in online

• By 2022 the worldwide market volume for online hotel bookings is likely to exceed $174 million

After compiling and reviewing the data, it is clear that the rental industry certainly on

growth trajectory. And it will stay long in the foreseeable future. Now this is your turn to choose which category rental business will suit for your business commence.

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