Nicolas Correales is a former pilot of the Colombian Air Force and the co-founder and CEO of Reizen, the number one app and platform for peer-to-peer car, yachts and lodging rentals in Colombia.
Reizen was born when Nicolas noticed the large number of vehicles that were parked for long periods of time in which their owners did not give them any use but still had to bear the inherent costs inherent of having a vehicle (taxes, insurance, etc.)
That is when Nicolas came up with the idea of creating a network of vehicle owners who were willing to rent their vehicles to trusted people and receive payment in return. This idea led to the creation of Reizen.
Even during the Covid pandemic, Reizen has shown steady growth rates in the Colombian market. Vehicle owners who use the platform have generated revenues of more than 1.2 million pesos.
“Reizen is a platform created for the purpose of peer-to-peer renting of vehicles between individuals under the modality of ‘Carsharing,’ which translates into a form of vehicle rental for limited periods of time that generates profits for owners based on the collaborative economy, and democratizes the use of cars for renters. This is a model that avoids pollution and waste of non-renewable resources.” Nicolas explains.
The primary purpose of the Reizen is to be an intermediary between the owners of the cars and the people who wish to rent them, obtaining profits for the owners of the cars calculated in more than 1.2 million pesos in just three years.
Reizen had an annual growth rate of more than 12% with its more than 45,000 users. Nowadays, they have more than a thousand cars available in more than 30 cities in Colombia, and are now offering renting services for yachts and lodging.
For Nicolas, it was important to have a good mindset in the process of starting his own business because there are times in which business owners may feel frustration but need to keep going and be disciplined.
“My advice to those looking to start their own business is to be constant and have trust. If you don’t believe in your own idea or business, no one else will. If you give up, your team will give up too. Knocking on a door is not the same as going in, but someone will look at what you are doing and that’s when results come about.” Nicolas shares.
Reizen is an inclusive application that allows everyone to have access to the rental of a good after passing the necessary safety filter but without classifying the vehicle owner by their economic capacity like other companies do.
“Although the COVID-19 pandemic affected a lot of businesses, Reizen managed to create and implement strategies and safety protocols coupled with affordable prices to stay in the market. We promote the use of vehicles for safe travel at low cost while serving as a source that generates income to the owners of the vehicles that are rented. The concept of Carsharing is not something new but it has had a great impact on the Colombian market which has had important impacts on the social, economic, and environmental aspects.” Nicolas says.
In the near future, Reizen is looking to expand to cover a larger market in countries like Panama and Mexico, where they can offer car, yacht and accommodations rental services following the successful approach in Colombia.
If you want to know more about Reizen, click here.