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Franchise with Fireside An RV Rental Dream - Garr Russell #5975 · Financial Survival Network

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  The average rental is going to be about five to seven days on that rental.
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  A franchise, if it's a travel trailer I always say tollable travel trailer
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  or drivable RB. If it's a tollable travel trailer, franchise is going to
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  net write around three hundred dollars for that rental. That's just off the rental
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  revenue. And then if it's a drivable you're gonna net about double that.
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  Welcome. You are listening to and watching the Financial Survival Network. I'm
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  your host, Carrie Lotz. Well, hey you heard a OPM. Well
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  we got o RPM other people's money. Now you can rent out other people's
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  RVs. And there's actually a franchise called Fireside RV Rental. We've got the
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  founder and CEO Gar Russell with us gar unique idea. It's kind of like
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  you took you took Airbnb and moved it onto the open road. Yeah,
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  yeah, we did. Yeah, we took real estate and we turned it
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  into wheel estate. So you've got one hundred locations you expect to have by
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  the end of twenty twenty four. Yeah, one hundred locations by the end
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  of next year. That's our goal. We're currently at thirty and that's just
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  word of mouse and social media. We're about to start a marketing campaign and
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  okay, go wild. So you and your family, your wife and three
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  kids, been living in an RV for the past five years. Yeah,
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  we just actually got back in a house in March. We traveled the country
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  for five years, building up the business and homeschooling our four kids and checking
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  out America. Well it's more like RV schooling then, huh yeah, we're
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  RVD school and oh yeah, okay, so I saw that. You know,
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  this market is kind of taking off as the economy gets tighter or more
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  people gonna rent rather than buy RVs. What's your thoughts, Yeah, you
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  know, so our thoughts are a couple of years. So, first of
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  all, during COVID, you know, there was a huge spike in r
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  V sales. Oh yeah, uh. And then it's kind of like a
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  timeshare for a lot of people. You buy, I think you're going to
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  go a bunch and you've got all these grand dreams. Then you realize it
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  only got you know, ten days of vacation of the year, and the
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  kids in baseball and all these sports, and wait, we can't use this
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  camp at all. What do we do? You know? And during COVID
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  especially, you know, I was like zero down. There's a huge demand.
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  So a lot of people are stuck with these RVs and they can't even
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  sell now because they're competing with the dealerships. So on the like inventory side
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  for us, that's you know, there's a huge inventory. Uh. And
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  then on the oppi side of it, you've got campgrounds that are going up
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  all around the country. There's just a huge movement and people you know,
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  wanting to experience the outdoors, stay local, do local stuff, you know,
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  be outdoors together. So it's kind of a perfect store as far as
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  especially with this newer generation, they don't want to own anything. They just
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  want to experience everything, right, and that's where we come in. So
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  how many RVs do you have on a lot at any particular time. Our
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  average franchise is right around twenty five rbs twenty five and so like, what's
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  the I guess, for lack of a better term, occupancy of these RVs.
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  Yeah, so depending on where you're at, you know, based on
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  the weather or you know, if you're in a seasonal state, the average
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  RB is going to do maybe about seven to nine rentals per season, and
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  our average rental is around five to seven days. We're kind of going after
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  a specific avatar as far as who we want to read to you, Like,
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  we're looking for mob is planning the summer daily trip. You know,
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  that's who we're going af here. So we typically have higher nightly minimums.
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  Interesting, how do they How does your end customer find out about you?
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  So our whole niche is we're the management piece. Uh So we work heavily
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  with the peer to peer marketing platforms. So, you know, just like
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  you said Airbnb or short term rental space, there's a couple of peer to
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  peer marketing platforms that we're partnered with. The largest one is called urv share,
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  where they're number one customers, so we let them spend the millions of
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  dollars to find us the customers. You know, and then we're the management
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  piece. It's pretty cool. And yeah, so what kind of returns can
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  a franchise you realize? What's it got of cost to open a franchise and
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  what kind of return can you realize? Yeah, so a franchise startup phase
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  fifty thousand dollars. And I'm still learning some of these rules and laws as
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  far as what I can and can't say, but typically what I'll tell somebody
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  is kind of going back to your previous question, is the average rental is
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  going to be about five to seven days on that rental franchise e if it's
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  a travel trailer I always say tollable travel trailer or drivable RB. If it's
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  a tollable travel trailer, franchise is going to net right around three hundred dollars
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  for that rental. That's just off the rental revenue. And then if it's
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  a drivable you're gonna net about double that. So if you kind of do
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  your math from there and you say, okay, i've got a fleet of
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  let's say twenty ten our travel trailer, there's ten of rbs, but a
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  seasonal state, they're going to do seven to nine rentals. If you work
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  the math up that way, an average franchise can net right around six figures
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  per season after you have that, and then figuring in your add outs,
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  which is another full piece of this business. You know, you can rent
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  out, you can rent out generators, kitchen kits, betting kits, delivery
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  set up smorest kits. I mean the add ons that you can offer are
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  you know, our end list. So that's a real good money making avenue
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  as well. How's the insurance work on these? You've got to have your
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  own policy, I would assume, right, Yeah, so the insurance basically
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  the way that this industry is set up, as you're paying a renter is
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  paying a per day commercial insurance fee. So depending on where the book eight
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  originates through and there's going to be different insurance packages that the renter is going
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  to be offered. You know, they have like standard and essential and preferred,
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  and then they can you know, get like all the things you can
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  get nowadays, trip protection and and you know all that kind of stuff,
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  right, and what happens if the RV breaks in the middle of the trip.
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  Yeah, if the RV breaks in the middle of the trip, you've
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  got roadside that you call a lot of times it's operator here, you know,
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  when it comes to rent V or so many different things that people didn't
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  necessarily know. It's a house on wheels, you know, you got twelve
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  bolt systems and one hundred and ten volt and the generator this and that and
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  slide out and stabilizers. So a lot of times those situations will just be
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  handled with the technical support call. If it's something more of the driving side
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  of the arvy, uh, you know that it would be like a standard
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  road side you know, when they come change out the tire or tell you
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  to a shop something like that. But I assume that happens rarely. You
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  know, it's yeah, it's not super combin. That's something like that would
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  happen and years later there's in those kind of scenarios, there's usually a pretty
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  simple solution as far as like con manual override, different things like that getting
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  back the road. So, what's the craziest DORV story you have in your
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  extensive travels around the country, so in regards to my travels or like rentals
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  in your travels, and that you could tell us about rentals too. Uh,
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  you know, I don't get asked that quite often, so I don't
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  have a kind of an awful cause I enter I could say one of our
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  favorite memories, Okay, yeah, that was Lowoia Beach in California. That's
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  probably one of our favorite memories where we just kind of pulled right up to
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  Lowaia Beach and you've got these seals and it just wasn't your typical American sight
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  seeing experience because there wasn't like guard rails and fences and lines and all those
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  kind of things you would see where it's like, oh, here's an attraction,
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  let's monetize it and make it as safe as we can, you know.
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  So, so it was just very natural and real, and that was
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  cool. Put those seals to work, right, Yeah, let's put these
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  seals to work and yeah on a quarter of ere. Yeah, so it
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  was it was almost too naturally, you know, because people are like trying
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  to get down new selfies with them on these rocks where their waves are crashing
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  in and stuff like. That's that was definitely a really cool memory, uh,
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  you know. And then all the way to the other side of the
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  the country, weird out on a whale watching tour and ended up being the
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  second worst journey this captain had ever taken everybody out on so literally like ninety
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  percent of us could have got sick. Oh we're all puke in and this
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  and that. It was it was horrible. Yeah, so that would only
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  be ingraded my memory. Well, you know, just because you're on a
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  vacation doesn't mean it's going to be wonderful, right, yeah exactly. Yeah.
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  So hey, what about like crazy renter stories. You must have some
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  there, huh. Yeah. You know, especially during COVID, you know
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  a lot of people decided, well we can't travel, let's you know,
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  run an r v H. You know, so we had all different kinds
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  of crazy stories with that. I'd say probably the craziest story that sticks out
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  and I know is I had a group of ladies. They were in Pennsylvania.
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  They were going to travel. They were going to take the whole summer,
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  go all the way to California and back. Well, the second morning
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  after they left, they woke up and they all had bed bugs. Oh
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  my god, they all had bed bugs. And so we went into you
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  know, trying to figure out, okay, what do we do. So
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  we're getting treatments, We're putting them into hotels, rental cars, you know,
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  trying to figure out, like, what in the world is going on?
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  It was a brand new RV too. We couldn't we couldn't understand,
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  you know, we just assumed they must have brought it on with them to
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  the trip that they brought you back with them. Yeah, these sweet ladies,
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  we got them through their trip. They yeah, they they sure had
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  the memories and stories and they went through that was even it. They had
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  their windshields smashed on me. They just these three ladies are probably sit they're
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  talking about it right now. Yeah. That was probably one of our living
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  your life time of their lives. That's yeah. Cool. So people want
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  to find out more about what you're doing here or go are maybe even become
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  a franchisey. Where is the place to go on the web? Yeah,
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  so you can go to fireside arby rentel dot com. You can see all
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  our our RVs for rents. Then click at the menu bar and you know,
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  you can learn more about the franchise, or just google us. You'll
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  see us. We're all over YouTube and Facebook and to all the places that
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  people are nowadays. All right, it sounds like a really timely business.
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  There's a link in the show notes to this interview on Financial Survival Network dot
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  com. Make sure you go there sign up for your free newsletter. Gar
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  appreciate you coming by, and it sounds like said very timely business. We
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  wish you the best. Awesome. Thanks, Terry, appreciate having me on.
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  Thanks for listening to carry Lenz's Financial Survival Network, your solution to today's
• 11:26
  trying times. For the latest, go to Financial Survivalnetwork dot com. Financial
• 11:31
  Survival Network now more than ever,