Leading fashion and lifestyle retailer TFG shared its strategy to revolutionise the omnichannel experience and transform into Africa's leading high-tech omnichannel retailer. "We are laying the foundations to become the largest, most reliable and most profitable e-commerce destination on the continent; via a simplified, customer-centric approach, aimed at maximising group scale, minimising duplication and cost, and leveraging our incredible assets," shared newly appointed co-chief omni officer Claude Hanan. The announcement came as part of the retailer's 2021 financial year-end presentation.Issued byTFG (The Foschini Group)
RentMyRide is empowering locals by giving them the tools for a low-touch small business and creating competition for conventional car rental companies by being a more affordable, paper-free and hassle-free online facilitator.
The sharing economy is thriving and car sharing platforms in the Netherlands and America, like Snappcar and Turo have paved the way with this successful concept.
South Africa, embracing the global sharing phenomenon has now been put on the map with RentMyRide being an innovative and effective local ‘tank’.
Sebastian Brokmann, CEO of RentMyRide
We chat to Sebastian Brokmann, CEO of RentMyRide, to find out more about the startup with goals to follow in the footsteps of Turo, who was featured as one of the top 15 on-demand startups by Forbes in 2015.
Can you tell us a bit about RentMyRide?
RentMyRide is a car rental marketplace where travellers and locals can rent any car they want, from a community of car owners in South Africa. RentMyRide is empowering locals by giving them the tools to create a small business with their depreciating asset to create additional income.
When, how and why did you get started?
RentMyRide was born out of the necessity to streamline an existing small car rental company. Our founder, Peter Puren, had started his own small car rental business from his apartment with only four cars and progressed by renting out other people's cars for them. Managing it on a whiteboard became laborious and admin intensive which resulted in him partnering up with Cape Town developer, Rudolf Vavruch and the brainchild RentMyRide was born in 2014.
What makes RentMyRide different from other rental car companies?
RentMyRide creates competition for conventional car rental companies by being a more affordable, paper-free and hassle-free online car rental facilitator. Our costs are lower than the current car rental companies and we have a larger variety of vehicles to choose from.
What are some of the obstacles you've had to overcome since starting out?
Getting our name out there remains a challenge, however, when people have used our service - as a renter and/or a lister they tend to stay with RentMyRide for the long run.
What advice would you give to other/young aspiring entrepreneurs?
Perseverance is the key to success.
What has been your proudest achievements thus far?
Enabling entrepreneurship in Africa - we create entrepreneurs as people can start their own low touch small business and make money from renting out their cars.
What does the future of entrepreneurship look like to you, considering the rapid growth on the car sharing front?
I believe the sharing economy will also take off in South Africa. In Europe and USA, it is a big success thus far and we foresee it will also be a success in SA, as people realise how easy it is to make extra money with your own car.
What would you like to see changed in the South African startup landscape?
Easier access for EU companies, it is quite difficult to get a VISA for South Africa which limits international entrepreneurial input.
What do you believe are the traits an entrepreneur needs in order to succeed?
I believe a positive attitude and determination go a long way in being an entrepreneur.
Tell us about your biggest struggles as entrepreneurs as well as some major highlights.
Moving to Africa from Europe was in the beginning quite challenging, but there are also a lot of opportunities in this relatively new emerging market on the continent.
Why would you encourage someone to become an entrepreneur?
Its great to be your own boss and be fully responsible for your own actions.
What is the importance of entrepreneurship - especially in a country such as South Africa?
It is good for the economy, it creates jobs and stimulates innovation.
The future is bright for RentMyRide as we grow the business and through this create more entrepreneurs in South Africa
For more, go to https://rentmyride.co.za/ and get R100 off your first rental with code: 'WELCOME100'. New users only - Valid until November 30, 2018, code can be redeemed at payment.
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