Starting a Car Rental Business from the Ground Up Presents Starting a Car Rental Business from the Ground Up  

Agenda Budgets Insurance Contracts Markets A & M

Agenda (continued) Franchise, Affiliation, or Independent? Website vs. GDSs Staffing Fleet Mix Accident Claims 3

Budgets Pro Forma Financial Statements - Profit & Loss - Balance Sheet - Cash Flow Formal Business Plan

DO YOUR HOMEWORK & ASK FOR HELP Budgets DO YOUR HOMEWORK & ASK FOR HELP

HAVING SUFFICIENT CAPITAL IS KEY! Budgets HAVING SUFFICIENT CAPITAL IS KEY!

Revenue Time & Mileage Rate Yield Management Calendar Day vs. 24 Hour Unlimited Mileage Long-term/Roll-overs

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Revenue Rate Types: Rack Walk-Up Weekend Corporate Web All-Inclusive

Revenue Ancillary Products: Collision Damage Waiver (CDW) Personal Accident Coverage (PAC) Personal Effects Coverage (PEC) Supplemental Liability Insurance (SLI)

Revenue More Ancillary Products: Navigation Systems Child/Baby Seats Additional & Underage Drivers Drop Off Fees Cleaning Fees

Expenses Fleet Insurance Payroll Office Space (Rent/Lease) Infrastructure: Phone, website, systems 12

Insurance Risk vs. Program/Leased Vehicles Collision Liability 13

Rental Agreement Contracts Professional Laser-Printed Duplex Printers vs. Pre-Printed Logos 14

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Defining your Market Airport Dealerships Local Companies Body Shops Hotels

Advertising & Marketing Personal Visits Social Media Networking 18

Franchise, Affiliation, or Independent Pros & Cons of Each Costs Exposure Control 19

Global Distribution Systems Website vs. GDS Global Distribution Systems Information Systems linking Travel Agents and Aggregators to Travel Industry Providers (airlines, hotels, car rental companies) Amadeus, Sabre, Worldspan, Galileo 20

Website vs. GDS Chain Codes AC: ACE ZA: Payless AD: Advantage ZD: Budget ET: Enterprise ZE: Hertz EY: Economy ZI: Avis EZ: E-Z ZL: National FF: Firefly ZR: Dollar NU: Nu Car ZT: Thrifty 21

Central Reservation Systems (CRS) Website vs. GDS Central Reservation Systems (CRS) Each GDS has their own, but there are CRSs for Independents, such as: 22

Affiliations Economy E-Z Fox Nu Car 23

Your Website is the window to the world! Website vs. GDS Your Website is the window to the world! Make it functional! 24

Website vs. GDS 25

Staffing Experienced Managers Training Hours of Operation

Fleet Mix SIPP Classifications Older vs. Late Models Color Features 27

Accident Claims Recover from Credit Card Companies, Insurance Companies, or the Renter Loss of Use 28