Rent Like a Champion: Travel Rentals from Shark Tank
Did you know Rent Like a Champion’s sales jumped from $2.3 million to $5.46 million after Shark Tank? This company focuses on college football towns. It’s a unique spot in the travel rental market, even for big names like Airbnb.
It started in South Bend, Indiana. The goal was to give sports fans comfy places to stay. This was especially for those going to big games.
Rent Like a Champion serves fans of college football, NASCAR, and golf. It’s more than just a place to stay. The company has seen $6.4 million in app transactions and $12.6 million in revenue in 2022.
They also have low damage claims. Less than 2% of rentals have issues. This is thanks to their $1 million insurance and security deposits.
Key Takeaways
- Rent Like a Champion’s sales surged from $2.3 million to $5.46 million after appearing on Shark Tank.
- The company caters specifically to college football weekends, NASCAR events, and golf tournaments.
- Annual revenue hit $12.6 million in 2022.
- Rent Like a Champion has a less than 2% damage claim rate.
- They offer $1 million in insurance coverage for property damage.
The Origins of Rent Like a Champion
Rent Like a Champion started with a simple yet smart idea from Notre Dame students. They noticed many people needed places to stay during football weekends. So, they turned their apartment into a rental service in South Bend, Indiana.
This idea quickly grew and spread to other college football towns across the U.S.
From Notre Dame to Nationwide
First, they focused on Notre Dame. But their success in South Bend led them to grow. By 2021, they had over 3,000 homes ready for events like Nascar races and football games.
They also partnered with six PGA tournaments. This provided homes for players, caddies, and sponsors. By October 2022, Rent Like a Champion made $12.6 million in revenue.
Initial Concept and Expansion
It all began in 2006, before Airbnb was around. Rent Like a Champion quickly grew beyond South Bend. They set up in 21 college cities and planned to add 20 more in a year or two.
Appearing on “Shark Tank” helped them a lot. They got $200,000 from Mark Cuban and Chris Sacca. This boosted their sales from $2.3 million to $5.46 million.
They focus on college football weekends. This has helped build a strong community and kept customers happy. They have a 4.9/5 rating on Facebook and Google.
Rent Like a Champion’s Unique Positioning
Rent Like a Champion was started in 2006 by Drew Mitchell, Derrick Shenk, and Jordan Curnes. They focus on a special part of the travel market. They provide football game lodging for fans, making sure they have a place to stay during games.
Focusing on College Football Towns
The company is all about college football towns. They operate in 20 places, like Oxford. Rent Like a Champion makes sure fans have a place to stay near their favorite stadiums.
They work hard to keep their customers happy. They also help local communities by partnering with them. They plan to add 20 more towns to their list soon.
Weekend-Only Rentals
Rent Like a Champion is known for unique weekend rentals. Prices range from $400 for a one-bedroom to $2,000 for a big house. These rentals are perfect for game days.
They offer things hotels can’t, like private yards and big spaces for groups. Rent Like a Champion makes staying for the weekend both fun and affordable.
| College Town | No. of Seasons Operated | Range of Rental Prices |
|---|---|---|
| Oxford | 4 | $400 – $2,000 |
| Other College Towns | Varies | $400 – $2,000 |
Shark Tank Appearance
When Rent Like a Champion appeared on “Shark Tank” in Season 7, Episode 6 in 2015, Drew Mitchell and Mike Doyle wanted to grow big. They hoped to get a lot of help from Shark Tank investments.
The Pitch
Mitchell and Doyle showed off their idea of renting homes to sports fans at college football games. They started the company in 2006. They asked for $200,000 for 10% of the company.
Their pitch was strong. They talked about making over $2 million and being in 21 college towns, like South Bend.
Sharks’ Reactions and Investment
The sharks were really impressed. They saw how focused and big Rent Like a Champion could get. Mark Cuban and Chris Sacca teamed up to invest $200,000 for 10% equity.
This investment helped Rent Like a Champion grow a lot. They went from making $2.3 million a year to $5.46 million. They also started renting out homes for golf tournaments and racing events.
| Metrics | Before Shark Tank | After Shark Tank |
|---|---|---|
| Annual Sales | $2.3 million | $5.46 million |
| Investment Received | None | $200,000 |
| Equity Given | None | 10% |
| Number of College Towns | 21 | Expanded |
| Company’s Full-time Employees | 7 | Increased |
Advantages Over Competitors
Rent Like a Champion stands out in the vacation rental market. It focuses on college football game rentals, a niche that started before Airbnb. This focus gives it unique advantages over competitors.
Comparison with Airbnb
Rent Like a Champion is different from Airbnb. It offers weekend rentals for sports fans at big events. Since 2006, it has welcomed over 80,000 guests. It operates in 40 cities, mostly near college football games.
Airbnb reaches more places but Rent Like a Champion has a dedicated fan base. Its focus on sports events creates a loyal customer group.
| Feature | Rent Like a Champion | Airbnb |
|---|---|---|
| Primary Market | College Football Towns | Global |
| Insurance Coverage | $1M Liability, $50K Personal Property | $1M Host Protection |
| Commission Fees | 15% + 2.9% Credit Card Fee | 3% Hosting Fee |
| Number of Cities | 40 | 81,000+ |
| Customer Focus | Sports Events, Weekends Only | Diverse Travel Needs |
Customer Satisfaction
Rent Like a Champion is known for its great service and understanding of its market. It has a $1 million insurance policy and $50,000 for contents. This makes homeowners feel safe.
Its focus on game-day experiences has earned it high praise. Renters love the atmosphere, leading to loyal customers and repeat bookings.
Strategies for Growth
After being on Shark Tank, Rent Like a Champion started using smart business growth strategies. They grew to over twenty college towns in the U.S. and rented out over a thousand properties for weekends. This move was perfect for the 49 million Americans who go to big football games each year, with 70% needing a place to stay.
Rent Like a Champion didn’t just stop there. They teamed up with sports events to reach more people. In their first year on Shark Tank, their sales jumped from one million to over six million. This shows how well their business growth strategies were working.
In 2015, Rent Like a Champion made over $3.5 million in profits. By 2022, their annual revenue hit $12.6 million. These numbers show they focused on growing and expanding their market. Even in 2020, during the pandemic, they made $5 million, proving they could adapt and stay strong.
The way Rent Like a Champion makes money is smart. Property owners don’t pay to list their places. They only pay a 15% commission and a 2.9% credit card fee when someone books. This attracts more owners and keeps profits high. They also charge a $95 security deposit and have a low damage rate, making everyone happy.
Rent Like a Champion also offers a $1 million policy for damage and liability, and $5,000 for contents in their vacation rental insurance. This strong insurance policy makes customers trust them for weekend rentals. By using creative business growth strategies and expanding aggressively, Rent Like a Champion is a top player in the travel rental market.
Post Shark Tank: Business Expansion
After appearing on Shark Tank, Rent Like a Champion saw big growth. They used smart partnerships and entered new markets. This helped them increase their revenue a lot. Now, they’re a top name in travel rentals.
New Markets and Partnerships
With a $200,000 investment from Shark Tank, Rent Like a Champion was ready for more. They teamed up with PGA golf tournaments, reaching more people. They also started serving markets beyond college football towns.
This move helped them grow their user base and reach more markets. It was a key step in their success.
Revenue Growth
Rent Like a Champion’s smart moves paid off in revenue. Before Shark Tank, they made $1.4 million. After, their revenue soared.
For example, their revenue jumped from $2.3 million to $12.6 million by 2022. This shows their growth.
| Year | Revenue | Profit |
|---|---|---|
| 2014 | $1.4 million | $915,000 |
| 2015 | $4.1 million | $2.45 million |
| 2022 | $12.6 million | $9 million |
Rent Like a Champion grew 80% each year for three years. They went from $6.4 million in transactions to doubling their homes for rent. They’ve kept growing by improving their operations.
What Makes Rent Like a Champion Special
Rent Like a Champion stands out by making game days unforgettable. They focus on unique game day experiences and community involvement. This company’s fresh approach makes game days special for everyone.
Game Day Atmosphere
The vibe Rent Like a Champion creates is unmatched. They offer over 3,500 homes in 25 university towns. This means families, alumni groups, and couples can find cozy spots to stay.
This effort keeps the game day spirit alive. Fans can stay close to the action and enjoy every moment. The atmosphere is festive and engaging.
Guests range from families to alumni groups and couples. They all add to the lively game day vibe. Rent Like a Champion also works with PGA Tour events. They provide homes for players, their families, caddies, and sponsors.
Community Focus
Community is key for Rent Like a Champion. They work with local homeowners and pay them for referrals. This helps the company grow and strengthens community bonds.
In places like South Bend, 350-400 homes are available for rent. Homeowners benefit from this partnership. It’s a win-win for everyone involved. This approach boosts local economies and fosters a sense of belonging.
User Experience on the Platform
Rent Like a Champion shines in its user experience. It offers a smooth booking process and top-rated rentals. People love its easy-to-use design and clean properties.
Ease of Booking
Rent Like a Champion makes booking rentals simple. Its clear system lets users find the right spot for football weekends fast. This ease attracts both new and returning customers, boosting its reputation.
Customer Reviews and Ratings
Customer feedback is key for Rent Like a Champion. Over 30,000 fans have rented through it, sharing their positive experiences. They praise the cleanliness and convenience, helping keep customers coming back.
| Feature | Customer Feedback |
|---|---|
| User-Friendly Interface | Highly praised for ease of use and navigation |
| Booking Process | Simplified and efficient, reducing booking time |
| Rental Property Cleanliness | Consistently receives excellent ratings |
| Customer Support | Responsive and helpful, adding to overall satisfaction |
Security and Assurance
Rent Like a Champion is known for its strong protection. They offer top-notch rental insurance policies. This gives both homeowners and renters peace of mind.
Insurance Policies
At Rent Like a Champion, they know how important peace of mind is. They provide rental insurance that covers unexpected events. This makes sure homeowners are safe during big sports games.
They work with top industry leaders. This lets them create insurance plans that fit each property’s needs. It turns risks into manageable situations.
Damage-Free Track Record
The platform has a solid record of no damage. This shows they are reliable for both homeowners and renters. They promote respect and responsibility.
This has led to fewer damage incidents. It makes renting with them safe and fun. Property owners find it attractive to join their network.
Future Prospects
Rent Like a Champion is on a bright path, with many chances for growth ahead. Since starting in 2015 and appearing on Shark Tank, they’ve changed how fans enjoy game weekends. They now offer over 3,500 homes in 25 university towns, just two years after Shark Tank.
The company made $12.6 million in 2024, showing their success. They’re now planning to grow by entering new markets. This includes teaming up with PGA golf tournaments in 2022. These moves show they’re ready to offer more choices and reach more people.
Their growth from 2012 to 2020 was 80% each year. This shows their strong business plan. They’re looking to grow more and improve what they offer. With new tech and more events, Rent Like a Champion is set for more success.
