CAR RENTAL BUSINESS PLAN SAMPLE
When looking to start a basic or luxury car rental service business, the importance of niche cannot be over-emphasized. You will agree with me that before you can choose a niche when starting a car rental service business, you will need to know the available niches in this industry.
As soon as you are done with this, you will also need to devise a way to get the cars that you will be renting out. Now, while these two requirements for starting a car rental service business are very important, one other requirement of equal importance is a business plan.
This article contains a car rental business plan sample. Even if you are looking to start up an exotic car rental service company, this business plan sample will come in very handy.
Here is a sample business plan for starting a car rental agency.
Business Name: Zigi Car Rental Service Company
- Executive Summary
- Our Products and Services
- Vision Statement
- Mission Statement
- Business Structure
- Market Analysis
- Sales and Marketing Strategy
- Financial Plan
- Competitive Advantage
- Conclusion
Executive Summary
Zigi car rental Service Company will be located in Orlando, Florida. It is a firm that is registered and licensed by the appropriate bodies. This car rental service company is owned by Michael Dickson. Also, apart from operating in Orlando, Florida, Zigi car rental Service Company will operate in other major cities in the United States.
We at Zigi car rental Service Company are not just in this business only to make money. We are also in this industry to meet needs as well as make a difference in this industry.
Products and Services
Zigi car rental services is a world-class car rental service company that will make available lots of services that are associated with the car rental service industry. We are not just interested in providing services, we intend to provide quality services that will always make our customers stick to our services after patronizing us once.
Some of the services that we will be made available to our potential customers include;
- Car Leasing
- Car sharing
- Business car rental services
Vision Statement
Our vision at Zigi car rental Service Company is to become the leading car rental service company in Orlando, Florida in just one year of starting operations. We also want to become one of the best 10 car rental service companies in the United States.
Mission Statement
Our mission at Zigi car rental Service Company is to build a car rental service company that will be big enough to get franchised in just five years of operation. We are also looking to become a yardstick by which the quality of car rental service companies will be measured both in Orlando, Florida, and in other cities in the United States.
Business Structure
Although we are new in this business, we are very much aware of the role that the foundation of a business plays in its success. As a result of this, we intend to get it right with our car rental service from the very start. Now, to ensure that this happens, we will employ only individuals that meet the requirements of working with our company.
Every individual that will be employed at our car rental service company will have good customer service as well as communication skills. Also, we will make sure that our employees work in very conducive environments that will help them to be very productive.
Market Analysis
Market Trends
In the last five years, innovations in technology have gained a very prominent place in the car rental service industry.
As a result of this, lots of customers of car rental service companies no longer visit car rental companies before they rent cars. Most of them now rent cars via the internet as well as mobile apps.
Also, the rise in the number of individuals that travel by air has brought about a growth in the car rental service industry. This is because a lot of people still love to drive themselves around even after flying to another city and leaving their cars in their cities of residence.
Sales and Marketing Strategies
Although the level of competition in the car rental service industry is not so high, it is still very significant. Therefore, to ensure that we make it to the top very rapidly, we have some strategies that we intend to take advantage of.
These strategies include;
- A catchy car rental name
- A strong internet presence
- A reduced price for our first six months of operation
- We will also print handbills and make them available in public places
Target Market
We have carried out thorough research and have come up with those individuals that we are certain will benefit the most from our services. Those on this list include;
- Business Executives
- Traveling Agents
- Tourists
- Students
Financial Plan
Source of Startup Capital
We will require 250,000 to set up this business. As it stands, we have been able to raise $150,000 from savings and family. We are going to get the remaining amount from the bank.
Competitive Advantage
Some major factors that will give us an edge over our competitors are the location of our office, our workforce as well as the number of cars that we have available for rent.
Conclusion
This is a car rental service business plan for Zigi Car rental Service Company. This company is owned by Michael Dickson and will be located in Orlando, Florida.