With life on the open road remaining as popular and alluring as ever, one innovative company, Wallabing, (https://wallabing.com/), is seeking to transform this growing lifestyle trend by streamlining the recreational vehicle experience for owners and renters.
"Owners make more, renters pay less" is the simple but powerful concept at the core of the Plano, Texas-based company's forward-thinking business model. Wallabing is a new peer-to-peer RV rental marketplace connecting RV owners, renters, travelers, and wandering adventurers alike.
Think of it as where wanderlust meets opportunity. Or providing RV enthusiasts an open road to revenue, adventure, and peace of mind.
Bringing owners and renters together in a platform providing value for each has fueled Wallabing's rapid growth since launching in 2021. Through leveraging its unique team of 164 independent consultants able to assist owners and renters in 32 states, the company has increased its inventory by 682% in six months.
It's a dilemma faced by many RV owners for years - how to get the most out of their RVs even though they only use their vehicles for a few weeks each year. A recent survey by Verified Market Research found the average RV owner uses their RV an average of 20 days each year leaving 345 days to rent to others. Despite the growing popularity of RVs and outdoor travel, industry experts cite there are more than 54 million idle RVs at any given time, worldwide.
Meanwhile, in recent years, the rental market for RVs has been on the rise. In 2020, the RV rental market size was valued at $546 million. It is projected to reach $810 million by 2028, growing at a compound annual growth rate (CAGR) of 5.31% from 2021-2028, according to Verified Market Research. They also found since 23% of RV owners rent before buying, more than 4.7 million people will rent RVs. Also, according to recent data provided by the RV Industry Association & AOWanders.com, 65 million Americans planned to take an RV trip in 2022.
Demand for RV ownership, which is already at 11.2 million U.S. households, is growing by 500,000 to 1 million annually. Market research predicts that 20.5 million households intend to purchase an RV in the coming years.
"We want to get the word out to bread and butter fleet owners, but also to folks who hesitate to purchase an RV or who just stare at the liability that's sitting parked for far too many weeks per year not to be making money," said Jason Carlson, founder and CEO of Wallabing. "Our company focuses on making the RV renting experience simple, straightforward, up-front, and budget-friendly, so you can enjoy your next unforgettable destination. Wallabing makes your next vacation more exciting, more accessible, and more affordable than you thought possible."
Carlson added that RV owners are frustrated with complicated fees and a lack of customer service from Wallabing's industry competitors and are looking for a change.
"Wallabing gives RV owners a platform with zero fees, comprehensive insurance, roadside assistance, and DMV checks. For renters, we offer the best value and upfront pricing. We have gained traction with very little money using our unique independent consultants, and two cold callers. It's also estimated that the low average earnings for individual RV rentals are about $12.5K annually, creating a valuable market opportunity for Wallabing via our rental fee commission model. It is simple, but it is a billion-dollar industry."
The top benefits and features of the Wallabing platform include:
- Owners make more and renters pay less - Wallabing's 10% fee is not only one of the lowest in the industry, but it is also based on the nightly rate only. The company's competitors charge their fee based on the nightly rate and add-ons, making the trip much more costly and taking more money out of the owner's pockets.
- Best User Experience -- By working very closely with seasoned RV rental fleet owners, Wallabing's platform is one of the easiest to use for renters and owners.
- Free for Owners - Wallabing does not charge any fee to list or rent your RV. No owner's fees...ever.
- Best protection - Wallabing requires renters to purchase insurance for their trip. Unlike its competitors, the company's insurance includes liability and physical damage coverage.
- Giving back - 10 percent of the company's net revenue is donated to charity.
- Mobile App for easy RV pickup/Drop off
- DMV checks on all renters and drivers.
- 24/7 RV road assistance.
- Complete customization on RV profiles.
- Ongoing customer support.
Carlson said in recent years there was already growing interest in the RV lifestyle from younger people, but since the Pandemic, the demand for RVs has increased dramatically.
"Not only do people want to get out and travel more post-pandemic, but it also redefined working - specifically allowing for remote workers in almost any career field. Additionally, traveling in an RV offers the opportunity to travel but still limits the number of people you interact with, making it a great option for high-risk individuals who still choose to isolate at various times," Carlson said.
He added that many communities are already feeling the effects of the recent economic slowdown and RVs offer a cost-effective means to continue to vacation.
Carlson's enthusiasm for the RV lifestyle started at a young age with his family's RV trips around the country.
"When I was a kid, we always went RVing. I don't even have to close my eyes to see all the places we visited...and in the background of so many pictures was that family trailer. The thing that made RVing so special to our family wasn't the vehicle itself-it was what we got to do together because we had the RV," Carlson recalled.
He added, "I want to bring those experiences to more people who are longing to get out their front door but feel like they can't afford to go. The travel industry is changing. We have so many more opportunities now. So go wander. Go see something new. And when you get back, you may realize that you never want to vacation any other way again."
The origins of Wallabing came out of Carlson's love for RVs but also his determination to make an impact on improving the RV industry.
Carlson said when he and Mary Carlson, company founder and chairman of the board, took an extensive look at the industry, they realized their competitors' options were complicated, convoluted, and flawed with excessive and hidden fees. They saw an opportunity for something different and launched Wallabing to provide a simplified, transparent, and more value-oriented experience.
Although they didn't have specific RV industry experience, Wallabing's management team has been able to bring relatable skills and expertise to the business ranging from customer service, management, and consulting to more technical areas such as development, marketing and SEO optimization, and financial modeling.
"Our team has all the necessary experience for startup success and growth. Our team's skills work in tandem to create a dynamic and powerful ability to meet challenges and pivot as needed," Carlson said.
Looking ahead, Carlson said Wallabing's five-year plan is to have 150K RVs featured on its site and on the road. To further build out its marketplace and increase inventory, Wallabing has developed a responsive business model and lowered its service fee, while keeping modest customer acquisition costs.
"With the additional runway that investor funding will provide, we anticipate exponentially expanding our user base through targeted marketing, which will allow us to pass even more additional savings on to our customers," Carlson said.
Toward that end, Wallabing is planning to launch an upcoming crowdfunding campaign to expand awareness about their company's platform among RV owners, renters, and potential investors.
Wallabing also recently partnered with John Hunter Nemechek, driver of the No. 20 Toyota Supra for Joe Gibbs Racing in the NASCAR Xfinity Series, for 2023 season.
"The Wallabing team is excited to introduce, 'John Hunter, Powered by Wallabing,' to the NASCAR fanbase. Wallabing has provided an RV (wrapped with the Wallabing logo), and John Hunter's helmet will also feature our logo," Carlson said.
