Auto Rental & Leasing Business Management
According to global surveys, one of the industries to develop rapidly by 2021 is the car rental and leasing industry. The automotive industry is currently one of the most powerful at worldwide levels thanks to the latest developments which includes innovation.
Despite it being an incredibly competitive market, Car rental and leasing can also be lucrative, and it presents a whole host of opportunities to provide stellar customer service, build a great reputation and make good returns. After all, with the cost of buying and owning a car climbing ever higher, demand placed on the car hire industry is growing fast.
The market can be segmented into rental and leasing services, which mainly differ in terms of tenure and ownership. While car rentals generally serve short-term purposes (<=1 year), leases are comparatively long (1–5 years). In a lease agreement, there is also a possibility of car ownership at the end, while rentals offer no such opportunities.
But starting and/or running a car rental or leasing business is not an easy venture. With so much competition, it’s vital that you identify a niche, and determine whether there is a suitable gap in the market for the services you’re hoping to offer.
People rent or lease vehicles for an array of reasons, and so you’ll need to carefully consider the demographic of customer you’re trying to connect with – whether it’s corporate executives or tourists. You’ll also want to closely examine how your future competitors are operating.
STEPUP has the capability to deliver Vehicle Rental and Leasing systems that would include:
- Policy & procedures
- Sales & marketing standards
- Fleet and car rental management systems
- Mergers and acquisitions
- IT systems
- Franchise networking
- Costing & pricing Models
- Corporate ID standards
- Organizational structure & HR standards
- Fleet renewal and disposal management