It comes as no surprise that two large companies would share some common ownership. The automotive aftermarket is a vast and competitive market, and two large companies can only own so much. What is more intriguing is that these two companies are not your typical car-share company. They each have quite a unique business model and offer quite a few extras that make them much more than what you would expect from a regular car sharing company.
A Whole Lot More Than Just A Car Sharing Company
Although they started as a car-sharing company, Zipcar quickly grew into a much more comprehensive company. It now owns a travel agency, offers mobile phone insurance, legal services, and a whole lot more. As a result of this diversification, Zipcar is now valued at around four billion USD. Similarly, Evicar also started out as a car-sharing company before growing into a global company that owns hotels and restaurants, as well as other forms of transportation such as aviation and shipping. Due to this diversification, Evicar is now valued at around six billion USD.
The Power Of Diversification
What makes these two companies so valuable is their ability to rapidly grow and expand into other industries. Due to the nature of the automotive industry as a whole, having two major suppliers in the automotive aftermarket is a distinct advantage. As the industry grows and changes, the ability to rapidly adapt is almost certainly the key to remaining afloat.
These companies can also be valuable partners, especially if you run into financial trouble or have other issues in the middle of the night. Being able to call on their resources and expertise is also highly beneficial. Finally, the fact that they are both headquartered in the UK makes it easier for Brits to get their cars serviced and insured if they decide to buy one of these vehicles. The UK has some of the toughest regulations and documentation requirements in relation to cars, so being able to contract these companies to take care of all of that for you is highly convenient.
The Unique Business Models Of These Giants
Each company offers a unique combination of services that makes them much more than a regular car-sharing company. Zipcar’s model is fairly straightforward. They offer a smartphone app that allows you to connect with a nearby driver who will pick you up and drop you off at your desired location. The service is incredibly popular, and the company operates in more than 400 cities worldwide. In many cases, you can also select the make and model of the car you want to be picked up by.
Evicar is quite the opposite. They primarily specialize in classic, vintage, and rare cars. In order to own such luxurious cars, you would have to pay a large amount of money. As a result, they have created an entire lifestyle brand around this segment of cars. In addition to the exceptional vehicles they offer, Evicar also provides concierge services, valet and security guards, and an entertainment department. If you own a vintage car and want to make it easier for you to enjoy it, Evicar is the company for you.
The Independent Companies They Are
These companies are not subservient to any one country. Although both are privately owned and have their headquarters in the UK, they operate as independent entities and don’t operate under any restrictions in terms of where they can operate. In many cases, the service is also available in your nearest large town, making it easier for a larger population to enjoy the convenience of a car-sharing service.
As a result of this independence, you can be fairly certain that the service you receive will be of high quality. Due to the nature of the industries that they are in, both companies have a vested interest in continuously improving their service and expanding their operations. The more information they have about you as a customer, the better they can tailor the service to suit your needs.
More Than Just A Car Sharing Company
Aside from the fact that these companies are both valued at more than a billion USD, what is most interesting is that the market values of these companies are based on much more than just their ability to provide a car-sharing service. With more than 600 million cars currently on the road worldwide, the industry is showing no signs of slowing down. This makes it a lucrative business, and with the right attitude and some savvy management, anyone could potentially become a self-sufficient car-sharing company.