- Published: January 31, 2022
- Updated: January 31, 2022
- University / College: Carleton University
- Level: Ph.D
- Language: English
- Downloads: 8
Investment case: Car Rental Service Introduction Car rental business can be owned locally or part of a national ization. Some good locations where a car rental business can thrive successfully are bus and train terminals, airports and even rental offices. This undertaking involves renting out vehicles to people who travel or any individual who may need a car for a short duration of time such as business people, individuals who are on holidays and accident victims. As manager in such a venture, one must be able to verify all the drivers licenses and collect the required deposits (VOGEL, 2000, P. 45). Some of the skills required in order to manage a car rental company are decision making skills, good communication skills and professional appearance.
Four investment ideas for a car rental business
Rental purposes –The manager is able to offer rental services to clients who want to use car for a specific duration or travel for long distances. The cars that are allocated for rental purposes should be heavy duty vehicles or four wheel drive vehicles like Land cruiser, Range Rover and Jeep. This are quite effective for long distances and are quite comfortable. This types of vehicles can attract a wide range of customers.
Airport purposes- The manager of a car rental business is able to allocate some cars to offers transport for clients that arrive into the country and want transport. The types of cars that should be at the airport should be ostentatious so that they can attract customers. The type of car that can be used at the airport include Mercedes Benz and New models of Toyota. The drivers should also be dressed in a proper manner and should be able to communicate with the customers very well.
Daily activities – The manager of the car rental service can offer services for clients that need their services within the town center. VOGEL (2000) asserts that most of the clients that use the car rental service in their daily activities should be regular clients for this service (Pg 54). This will mainly look for a specific group for example employees that work in a specific firm.
Security services – The manager for the car rental services can offer some of the vehicles to be used for security services . Some of the vehicles can be used such as jeeps and Land cruiser. This car will be effective in offering security services to different clients.
I believe that car rental service is a plausible investment that can make me a lot of money. If I can concentrate more on the two core markets include the tourist market and the business market, I will be able to get good returns . There is also an increase of the car rental services as people and companies have chosen to use this service as they are affordable . I think that the four types of investments are good ideas as they will provide different methods of getting revenue . In my opinion, the car rental services will require a lot of money for start up but, the returns on investments are positive.
VOGEL, H. L. (2000). Travel industry economics: a guide for financial analysis. Cambridge, Cambridge University Press.
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