A car rental company could be a lucrative venture, especially if you set up near an airport or in a tourist destination. There are certainly costs associated with starting a company car rental, but how much will depend on the size of your institution. Whether you decide to start from scratch, buying an existing business, or follow the way of franchising, a new company must be implemented correctly and legally.
Hiring a lawyer to advise and help set up your car rental company. Request certificates of state, local and municipal zoning and permits required in your area. Check if you need to get a car dealer license. Hire an accountant or a bookkeeper to take care of your books.
Decide if you want to create a car rental company from scratch, buying an existing business or buying a franchise. You will need significant capital to buy a franchise, but you'll have plenty of expert advice and support.
Determine the hours of your car rental company will work. If your business is located near an airport, a tourist destination and a bustling commercial center, the request may be higher. Consider opening early and closing late at night or even stay open all day.
Stock of your company with enough cars to meet demand during the installation phase of your business, and decide on the make and model of car you rent. If the startup of small cars with two or three can suffice. If you go to scale, you'll need a fleet of cars.
Appoint an insurance agent to set up insurance coverage for your business. Offer your customers rental cars can buy third-party insurance to protect them. Make sure you have plenty of liability and auto insurance policies in case of loss.
Arm your enterprise rental car with a computer and office equipment. Buy the latest software and equipment to process payments by credit and debit card, check the history of the conduct of a client, and keep accurate financial records to comply with state laws of insurance commissioner.
Interview and hire staff to clean, maintain and repair the cars, make reservations; expedition against the run, do general office work, and implement security. Protect your business with surveillance cameras to monitor the daily activities in cases of crime or other types of loss.
Get an offer maps, pamphlets and brochures about the area to display on your desk or in the customer waiting room. Get these free from your local chamber of commerce or tourism office.
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