Rent Like A Champion Shark Tank Founder, Net Worth, and Investment
In Season 7, Episode 6 of Shark Tank, founders Drew and Mike pitched Rent Like A Champion, a vacation rental company targeting college football fans. They asked for $200,000 for 10% equity and highlighted the demand for affordable accommodations near stadiums. Despite concerns about potential property damage, they secured a deal with Mark Cuban and Chris Sacca.
Key Takeaways:
- Rent Like A Champion appeared on Season 7, Episode 6 of Shark Tank, securing a deal with Mark Cuban and Chris Sacca.
- The founders, Drew and Mike, highlighted the demand for affordable accommodations near college football stadiums.
- They asked for $200,000 for 10% equity in their vacation rental company.
- Rent Like A Champion focuses on providing game day rentals in college towns, revolutionizing the way fans find accommodations.
- The successful pitch and investment have fueled the company’s growth and expansion.
The Journey of Rent Like A Champion
Drew Mitchell and Mike Doyle embarked on an extraordinary journey when they founded Rent Like A Champion in 2006. It all began with their vacant apartment near Notre Dame football games, which they decided to list as a rental property. Their innovative idea quickly gained traction, and in 2010, they expanded their business to other college towns.
Rent Like A Champion caters specifically to college football fans, providing them with game day rentals near stadiums. Homeowners in college towns with prominent football programs play a crucial role in the company’s success. They list their homes on the platform, enabling large groups of fans to stay together during game weekends. This unique concept has transformed the game day experience for fans, fostering a sense of community and camaraderie.
Over the years, Rent Like A Champion has witnessed remarkable growth. They now offer rentals in 21 college towns across the United States, providing football enthusiasts with convenient and affordable lodging options. Their commitment to delivering an exceptional experience has propelled them to become a prominent player in the vacation rental market.
Expanding Opportunities for Fans
Rent Like A Champion’s expansion has not only encompassed an increasing number of college towns but has also extended beyond football. Recognizing the demand for vacation rentals near other major events, the company has branched out to include rentals near golf tournaments and NASCAR events. Additionally, Rent Like A Champion’s partnership with the PGA Tour in 2022 further solidifies their presence in the sports industry.
The Impact of Rent Like A Champion
The impact of Rent Like A Champion goes beyond providing lodging for game days. By offering a specialized platform dedicated to college football fans, they have enhanced the overall game day experience. Fans now have the opportunity to stay in close proximity to the action, mingle with fellow enthusiasts, and immerse themselves in the vibrant atmosphere that surrounds college football.
Rent Like A Champion’s successful model has resulted in substantial revenue growth, with the company generating $12.6 million in revenue in 2022. Thousands of fans have benefitted from their services, experiencing game days like never before.
How Rent Like A Champion Works
When it comes to finding the perfect accommodations for college football game weekends, Rent Like A Champion has got you covered. Whether you’re a homeowner looking to list your property or a football fan in search of game day lodging, Rent Like A Champion offers a seamless platform to meet your needs.
To get started, homeowners simply list their properties on Rent Like A Champion, providing all the necessary details and amenities to attract potential renters. This includes location, number of bedrooms, bathroom facilities, and any additional features that make their property stand out. By offering their homes for rent, homeowners can tap into a lucrative market while providing football fans with convenient and comfortable lodging options.
On the other side, football fans looking for accommodations near the game can browse through Rent Like A Champion’s extensive listings. With a wide range of options available, including houses, apartments, and even luxury properties, renters can find the perfect place to stay that meets their specific needs and preferences. Whether you’re traveling with a small group of friends or a large tailgating party, there’s something for everyone.
Once renters find a listing that suits their needs, they can sign an agreement and make the necessary payment, which includes a security deposit to ensure that the property is well taken care of during their stay. After completing the booking process, renters receive all the necessary details and instructions for their upcoming stay. Rent Like A Champion’s user-friendly interface and customer support ensure a hassle-free experience from start to finish.
Commission and Surcharge
Rent Like A Champion charges homeowners a 15% commission on each booking. This commission covers the services provided by Rent Like A Champion, including listing promotion, property management, and customer support. Therefore, homeowners can confidently list their properties on the platform, knowing that Rent Like A Champion will handle all the necessary logistics.
Renters, on the other hand, are charged an 8% surcharge. This surcharge helps support Rent Like A Champion’s operations and allows them to continuously improve their services, ensuring an exceptional experience for both homeowners and renters alike.
Comprehensive Insurance Coverage
Rent Like A Champion understands the importance of protecting homeowners and their properties. That’s why they provide comprehensive insurance coverage to homeowners who list their properties on the platform. This coverage offers peace of mind, knowing that Rent Like A Champion has you covered in the event of any unexpected damages or issues during a rental period.
With Rent Like A Champion, finding the perfect lodging for college football game weekends has never been easier. Whether you’re a homeowner looking to earn extra income or a football fan in search of a memorable experience, Rent Like A Champion has revolutionized the way we find accommodations for game day.
Rent Like A Champion vs. Airbnb
When it comes to vacation rentals, there are many options available to travelers. Two popular choices are Rent Like A Champion and Airbnb. While both platforms offer accommodations, they have distinct differences that set them apart.
Rent Like A Champion differentiates itself from Airbnb by focusing on underserved college towns and catering specifically to game day rentals. Unlike Airbnb, which covers a wide range of destinations, Rent Like A Champion concentrates on events happening in college towns. This targeted approach helps position them as a specialized alternative to Airbnb for college football fans.
So, let’s take a closer look at how these two platforms compare:
“Rent Like A Champion differentiates itself from Airbnb by focusing on underserved college towns and catering specifically to game day rentals.”
The listing experience
When it comes to listing a property, both Rent Like A Champion and Airbnb provide user-friendly platforms. However, Rent Like A Champion’s focus on game day rentals means that homeowners in college towns can reach a more targeted audience. On the other hand, Airbnb allows homeowners to list properties in various locations and attract a broader range of travelers.
Property selection
For travelers seeking accommodations near college football games, Rent Like A Champion offers a curated selection of properties specifically tailored to their needs. These properties are located in close proximity to stadiums, making it convenient for fans to enjoy the game day experience. In contrast, Airbnb offers a wider range of properties in various destinations, including cities, beach towns, and rural areas.
Trust and safety
Both Rent Like A Champion and Airbnb prioritize the safety and security of their users. Rent Like A Champion provides comprehensive insurance coverage for homeowners, offering added protection in case of any untoward incidents. Airbnb also has safety measures in place, including host verification and guest reviews, to ensure a secure booking experience.
Cost
When it comes to pricing, Rent Like A Champion and Airbnb have different fee structures. Rent Like A Champion charges homeowners a 15% commission and renters an 8% surcharge. On the other hand, Airbnb charges hosts a percentage fee for each booking and guests a service fee.
Here’s a quick comparison table showcasing the key differences between Rent Like A Champion and Airbnb:
| Rent Like A Champion | Airbnb |
|---|---|
| Focuses on college towns and game day rentals | Covers various destinations |
| Curated selection of properties near stadiums | Wide range of properties in different locations |
| 15% commission for homeowners, 8% surcharge for renters | Percentage fee for hosts, service fee for guests |
As you can see, Rent Like A Champion and Airbnb have their own unique strengths and target different types of travelers. Whether you’re a college football fan looking for a game day rental or a traveler seeking a wide selection of accommodations, both platforms offer distinct advantages.
Now that you have a better understanding of the differences between Rent Like A Champion and Airbnb, you can make an informed decision based on your specific needs and preferences.
The Shark Tank Pitch and Investment
During their Shark Tank pitch, Drew and Mike showcased Rent Like A Champion’s potential and secured a deal with Mark Cuban and Chris Sacca. The investors agreed to invest $200,000 for a 10% equity stake in the company. This investment helped Rent Like A Champion scale their business and expand their offerings.
Growth and Expansion of Rent Like A Champion
Since appearing on Shark Tank, Rent Like A Champion has experienced significant growth. They have expanded their presence to 21 college towns across the United States and aim to double their footprint. The company has also extended their offerings to include rentals near golf tournaments and NASCAR events. They partnered with the PGA Tour in 2022 to provide housing for players and their families.
Rent Like A Champion’s expansion into 21 college towns demonstrates their commitment to providing game day rentals near stadiums. By offering accommodations in more locations, the company is able to cater to a broader range of college football fans. Additionally, their foray into other sports events like golf tournaments and NASCAR races showcases their versatility and willingness to adapt to different audiences.
Rent Like A Champion’s Expanded Presence
| College Town | State |
|---|---|
| Notre Dame | Indiana |
| Alabama | Alabama |
| Ohio State | Ohio |
| LSU | Louisiana |
As the company continues to expand, they are actively seeking partnerships in more college towns across the United States. By doubling their footprint, Rent Like A Champion aims to become the go-to platform for game day rentals, providing convenient and affordable accommodations for college football fans nationwide.
“We are excited about the growth and expansion of Rent Like A Champion. Our goal is to create a seamless and memorable experience for fans attending game days and other major sporting events.” – Drew Mitchell, Co-Founder of Rent Like A Champion
Rent Like A Champion’s Impact and Success
Rent Like A Champion has revolutionized the way college football fans find accommodations for game days. By offering affordable rentals near stadiums, they have made attending games more convenient and enjoyable for fans. The company’s success is evident from their revenue growth, with annual revenue reaching $12.6 million in 2022. They continue to provide lodging options for various events and serve thousands of fans.
| Year | Annual Revenue (in millions USD) |
|---|---|
| 2018 | $6.3 |
| 2019 | $8.1 |
| 2020 | $10.5 |
| 2021 | $11.8 |
| 2022 | $12.6 |
Rent Like A Champion’s commitment to providing high-quality accommodations and exceptional service has contributed to their continued success. They have established themselves as a trusted brand in the vacation rental industry, ensuring memorable experiences for fans attending game days and other events. By consistently delivering on their promise of convenient and affordable lodging, Rent Like A Champion has amassed a loyal customer base and garnered positive reviews.
The Impact of Rent Like A Champion
The impact of Rent Like A Champion goes beyond just providing lodging options. Their commitment to the game day experience has enhanced the overall atmosphere and excitement surrounding college football games. By offering accommodations near stadiums, they have allowed fans to fully immerse themselves in the game day festivities, creating lasting memories and strengthening the sense of community among fans.
“Rent Like A Champion has been a game-changer for college football fans. Their affordable rentals near stadiums have made attending games more accessible and enjoyable. It’s incredible how they have transformed the way fans experience game days.”
As Rent Like A Champion continues to expand their reach and offerings, their impact on the vacation rental industry and game day experiences is expected to grow. They are constantly innovating and seeking new partnerships to provide even more options for fans attending various events.
The success of Rent Like A Champion can be attributed to their dedication to meeting the unique needs of college football fans and their commitment to excellence. Their impact on game day lodging has undoubtedly left a lasting impression on fans and the vacation rental industry as a whole.
Rent Like A Champion’s Founder Net Worth
Although the exact net worth of Rent Like A Champion’s founders, Drew Mitchell and Mike Doyle, is not publicly available, their successful appearance on Shark Tank and the tremendous growth of their company indicate significant financial success. As the co-creators of Rent Like A Champion, Mitchell and Doyle have built a thriving business that continues to expand and cater to the needs of college football fans.
Their innovative approach to game day rentals and their ability to secure a deal on Shark Tank have undoubtedly contributed to their financial achievements. With their expertise in the vacation rental market and their dedication to providing top-notch accommodations near stadiums, it is evident that Mitchell and Doyle have made wise investment decisions and capitalized on a niche market.
“We saw an opportunity to address the specific lodging needs of college football fans and turned it into a successful business. Rent Like A Champion has empowered countless fans to enjoy game days like never before.”
As true pioneers in the industry, Drew Mitchell and Mike Doyle continue to shape the game day lodging experience and set a shining example for aspiring entrepreneurs. Their relentless drive and commitment to customer satisfaction have undoubtedly contributed to their financial prosperity.
| Key Factors in Drew Mitchell and Mike Doyle’s Financial Success |
|---|
| Successful appearance on Shark Tank |
| Explosive growth of Rent Like A Champion |
| Innovation in the vacation rental market |
| Targeted approach to game day rentals |
| Continued business expansion |
While the exact figures remain undisclosed, it is evident that Drew Mitchell and Mike Doyle have achieved considerable financial success through their endeavor, Rent Like A Champion. As the company thrives and expands, Mitchell and Doyle’s net worth will undoubtedly continue to grow.
Conclusion and Future Outlook for Rent Like A Champion
Rent Like A Champion’s success on Shark Tank has solidified its position as a leading choice for college football fans in need of game day accommodations. The company’s continuous growth within the vacation rental market showcases its commitment to meeting the unique needs of its customers.
With plans for expansion and strategic partnerships, Rent Like A Champion is poised for even greater success in the coming years. By constantly innovating and enhancing its offerings, the company remains at the forefront of the game day rental industry.
As the demand for game day rentals continues to rise, Rent Like A Champion is well-positioned to capture a significant share of this market. Through its comprehensive network of listings and exceptional customer service, the company is expected to remain a top choice for college football fans seeking convenient and affordable accommodations near stadiums.
FAQ
How did Rent Like A Champion start?
Rent Like A Champion was started in 2006 by Drew Mitchell and Mike Doyle, who listed their vacant apartment for Notre Dame football games. They expanded to other college towns in 2010, allowing homeowners to list their properties for game day rentals.
How does Rent Like A Champion work?
Homeowners in college towns with big-time football programs list their homes on Rent Like A Champion for game day rentals. Football fans browse the listings and sign an agreement to rent a property. Homeowners pay a 15% commission, and renters pay an 8% surcharge.
How is Rent Like A Champion different from Airbnb?
Rent Like A Champion focuses on game day rentals in college towns, while Airbnb covers a wide range of destinations. Rent Like A Champion caters specifically to college football fans and offers affordable accommodations near stadiums.
What was Rent Like A Champion’s Shark Tank pitch?
Rent Like A Champion founders Drew Mitchell and Mike Doyle pitched their vacation rental company to the Shark Tank investors in Season 7, Episode 6. They asked for 0,000 for 10% equity and highlighted the demand for affordable accommodations near stadiums.
How much did Rent Like A Champion secure from Shark Tank investors?
Rent Like A Champion secured a deal with Mark Cuban and Chris Sacca on Shark Tank. The investors agreed to invest 0,000 for a 10% equity stake in the company.
How has Rent Like A Champion grown and expanded?
Since appearing on Shark Tank, Rent Like A Champion has expanded to 21 college towns across the United States. They have also extended their offerings to include rentals near golf tournaments and NASCAR events. In 2022, they partnered with the PGA Tour to provide housing for players and their families.
What impact has Rent Like A Champion had?
Rent Like A Champion has revolutionized the way college football fans find accommodations for game days. By offering affordable rentals near stadiums, they have made attending games more convenient and enjoyable for fans. The company has generated significant revenue, reaching .6 million in annual revenue in 2022.
What is the net worth of Rent Like A Champion’s founders?
The exact net worth of Rent Like A Champion’s founders, Drew Mitchell and Mike Doyle, is not publicly available. However, their successful appearance on Shark Tank and the growth of their company indicate significant financial success.
What does the future hold for Rent Like A Champion?
Rent Like A Champion aims to double its presence in college towns and continue expanding its offerings. With partnerships and innovation, the company is poised for further success in the vacation rental market, specifically for game day accommodations.
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