Car Rental Business Plan Business Plan Articles If you are starting a car rental business, it is likely that you will require a business plan at some point.
Strategic Analysis with current research! The Car Rental Agency Inc. The Company was founded in by John Doe. The business will also recognize revenues from the sale of insurance services and gasoline charges to customers. At the onset of operations, the Company intends to have a leased fleet of 30 vehicles.
The third section of the business plan will further describe the services offered by the Car Rental Agency. The interest rate and loan agreement are to be further discussed during negotiation.
Doe has more than 10 years of experience in the automotive industry. Through his expertise, he will be able to bring the operations of the business to profitability within its first year of operations.
Doe expects a strong rate of growth at the start of operations. Below are the expected financials over the next three years. Doe intends to implement marketing campaigns that will effectively target individuals, tourists, and business travelers within the target market.
The Company is registered as a corporation in the State of New York.
Below is a breakdown of how these funds will be used: Doe is not seeking an investment from a third party at this time. Doe may seek to sell the business to a third party for a significant earnings multiple.
Most likely, the Company will hire a qualified business broker to sell the business on behalf of the Car Rental Agency. Based on historical numbers, the business could fetch a sales premium of up to 4 times earnings. The Company will have three tiers of rentals including economy, standard, and luxury.
A limited number of luxury vehicles will be held on the lot for wealthy tourists and business travelers. This is an important secondary steam of revenue for the business as sales of additional car insurance will generate substantial gross margins for the Car Rental Agency.
Additionally, the Company will charge substantial fees to customers that do not return the vehicles with full gas tanks.
Currently, the economic market condition in the United States is in recession. This slowdown in the economy has also greatly impacted real estate sales, which has halted to historical lows. Many economists expect that this recession will continue until mid, at which point the economy will begin a prolonged recovery period.
However, Car Rental Agencies typically operate with a strong degree of economic stability as business travelers will continue to need vehicles for their business trip needs. This is a mature industry, and the future expected growth rate is expected to equal that of the general economy.
As mentioned above, despite the currently high gasoline prices, the industry will continue to remain profitable as business travelers will continue to require rented vehicles during their business trips.
In this section, you can also put demographic information about your target market including population size, income demographics, level of education, etc. The key to writing a strong competitive analysis is that you do your research on the local competition.I-Drive Stoke Ltd.
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A Business Plan is crucial for starting and running your business successfully. Sound business plans can help you get a loan, keep you on track toward your goals, and provide a reference for benchmarking, reviewing results and making adjustments in your business.
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