Ammar and Lucas discuss Finalrentals, which enables small and medium car hire companies to transform their operations and distribute via online channels across the world. The car rental market is fragmented, with local SMEs representing more than 50% of the market. Finalrentals and its franchisees now serve more than 32 countries, bringing low-cost car rental solutions to consumers from Wales, to the UAE and USA and many more.
Franchisees receive access to a CRM system that is specifically designed for the car rental network, allowing them to see bookings, customer information, legal documents, and revenue reports in real-time. They can control their inventory and understand how they are priced relative to their competitors. Franchisees also receive exclusivity for their area, to ensure that there is no market cannibalisation between franchisees.
The incremental revenue uplift per franchisee per month is £15,000 to £95,000 - a huge impact that is derived from access to new distribution channels, improved conversion flows and increased retention (previously 18% of customers would never return).
Ammar Akhtar is the Founder and CEO of Finalrentals which is based in Cardiff. UnitedKindgom a car rental brand and a digital eco system, currently operating in 32 countries andexpanding. In 2022 alone the brand has expanded to 14 countries under the leadership ofAmmar.
He is the winner of the prestigious Gulf Capital MEED Award for his contribution to thedigital car rental eco system the UAE. Nominated as top 5 disruptors to watch out for bySME Advisor in 2019. 2020. Entrepreneur magazine also nominated him as entrepreneur of the year 2019-2020 and he is the winner of prestigious the Poland Prize by Techseed by ministry of economicdevelopment in Gdansk Poland.
Ammar is the brain behind the online booking systems for Budget, Thrifty, Dollar and manyother companies in the UAE including Udrive in the Middle East. Ammar’s dream is to make car rental reservations as easy as renting a movie from Netflix or ordering food from Deliveroo. Last but not the least he would like to eradicate poverty as much as possible across the world and would love aspiring entrepreneurs find the right guidance and purpose of their organization. He is currently expanding his dream and his organization through his Cardiff HQ and the company is now backed and funded by Welsh Government and Fuel Ventures.