Wondering how to start a car rental company? We take you step-by-step from start to success.
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Creating a Business Plan for a Car Rental Company
One of the worst mistakes you can make as a small business owner is to not create a business plan.
A good business plan defines the game plan. If you don't have a business plan, your leadership will be handicapped, choosing short-term opportunities at the expense of long-term benefits.
Before you make another business decision and before you start writing a business plan, you need to create a mission statement. From there, it's time to initiate the hard work involved with writing the rest of your car rental company's business plan.
Take a Look at the Competition
Well in advance of opening a car rental company in your town, it's worthwhile to find out how many competitors you have. Use the link below to generate a list of competitors nearby. After clicking on the link, type in your city, state and zip code to get a list of car rental companies near you.
Gain a knowledge of how existing firms have positioned themselves in the marketplace, and then design your business in a way that sets you apart from the others.
Getting Advice from Experienced Entrepreneurs
If you are seriously contemplating launching a car rental company, it's a smart move to learn from folks who are already in business. If you think your local competitors will give you advice, you're being overoptimistic. The last thing they want to do is help you to be a better competitor.
But, a person who owns a car rental company on the other side of the country will be much more likely to talk with you, once they realize that you are not going to directly compete with them in their community. Indeed, many experienced entrepreneurs enjoy offering advice to startup entrepreneurs. In my experience, you may have to call ten business owners in order to find one who is willing to share his wisdom with you.
Where would you find a car rental company entrepreneur in another community?
It's not that hard. Just use the handy link below and enter in a random city/state or zipcode.
Advantages of a Car Rental Company Purchase
On a percentage basis, more entrepreneurs intend to enter car rental company ownership through a startup than through a business purchase. Yet car rental company startups aren't easy - many fail within the first year.
There are a lot of factors that need to be considered in buying vs. starting a business. While other startups are just getting on their feet, a business purchase dramatically improves the odds that your car rental company will be realizing net income from the outset of your ownership engagement.
Don't Rule Out Franchising
Even with planning and preparation, the failure rate of startup businesses is very high. One of the ways to mitigate the risk of a startup failure is to buy a car rental company franchise.
Our auto rental franchise directory (see link below) is full of car rental company franchise opportunities.
Like any business, starting a franchised business requires hard work and dedication. But for the right entrepreneurs, a franchise can offer a streamlined path to small business ownership.
These additional resources regarding starting a business may be of interest to you.
If you sell to car rental companies, you're in the wrong place. Try these resources instead:
If you are still exploring all of your options, please browse our directory of guides below.