A Sample Car Rental Business Plan Template

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Okay, so we have considered all the requirements for starting a car rental business
(https://www.profitableventure.com/starting-a-car-rental-business/). We also took it further
by analyzing and drafting a sample car rental service marketing plan template backed up by
actionable guerrilla marketing ideas for car rental businesses. So let’s proceed to the business
planning section.

Car rental business generally is a competitive business and any entrepreneur who intends to go
into this business, should ensure that they carry out thorough feasibility studies and market
research so that the risks in the business can be greatly minimized.
What Does It Take to Start a Car Rental Business Successfully?
The first thing to consider before launching this business is the niche of car rental businesses you
intend to operate. You will have to know the niches available – contract hire and daily hire et al,
and decide which you want to go on. Contract hire is usually for business customers who hire the
vehicles for a set period of time, while daily hire is for individual customers who hire the vehicles
usually for a shorter period of time.

The next thing to consider before launching a car

rental business is how to get your fleet of reliable
cars. The options available are outright purchase or
leasing; outright purchase is usually more expensive
than leasing. You will also have to decide how many
number of cars you intend to start with, bearing in
mind that the higher the number of cars your
business owns, the more earnings your business
makes.

The cars have to be well maintained, so that you

could enjoy a high turnover. You could decide to
contract the maintenance out, or hire your own
maintenance staff, which could prove more expensive for your start-up business initially.

Here is a sample car rental business plan to help you plan through;

A Sample Car Rental Business Plan Template

Industry Overview

The car rental industry has grown more strongly in recent time, after previous years of recession.
This was primarily due to the fact that airlines saw a decrease in customers which have now seen
an increase too as compared to recent years, thereby linking air travel to car rentals.
The car rental industry is expected to experience remarkable growth following an increase in the
number of passengers traveling by air, which is due to a rise in per capita income as well as
corporate profit. The largest car rental companies in the industry have a competitive advantage
over smaller firms, especially as they have strategic alliances with airlines and hotels, which the
smaller car rentals do not have.

Basically, players in this industry either rent or lease

passenger cars to customers. Car rental services
typically last a short period of time usually 30 days
or less, while car leasing agreements are for longer
period of time usually 12 months or more.

The major companies in this industry have created

strong brand awareness and therefore enjoy its
recognition. This helps in retaining customers for
these businesses, and creating difficulty for new car
rentals start-up towards getting customers and
retaining them as well.

Also, major companies constantly need to purchase

fleets to meet up with customers’ demand, a feat that smaller companies cannot match up with,
and yet regardless of the number of cars in one’s fleet, maintenance, storage, and then staff the
rental location.

The Car Rental Industry is indeed a large and thriving industry in developed countries and in most
part of the world. Statistics has it that in the United States of America alone, there are about 2,716
licensed and registered car rental businesses responsible for employing about 113,499 employees
and the industry rakes in a whooping sum of $38bn annually with an annual growth rate projected
at 3.0 percent. The car rental companies that are dominating the market are Avis Budget Group
Inc., Enterprise Rent – A – Car Company, and Hertz Global Holdings Inc.

Apart from the increase in international travel, other key factors that drive the car rental market
include the increasing population, as well as increasing internet usage amongst the people. Most
online car rentals are due to the increase in internet usage, which has made it more convenient
for customers to access car rentals, and for car rental businesses to increase their revenue.

The major restraint in this industry especially globally has been the increase in the
implementation of environmental regulations around the world.  The high amount of
environmental pollutants that is released by cars is highly responsible for these environmental
regulations.

Executive cars and MUVs are the leaders in the car rental business globally, followed by economy
cars, SUVs, and luxury cars. Apart from revenue from the airport segment, other segments that
contribute to the car rental business include outstation, local usage, event transportation,
employee transportation, and self-drive.

Over and above, car rental businesses all over the world are still enjoying good patronage
particularly if they are well positioned and if they know how to reach out to their target market.

Car Rental Business Plan – Executive Summary

McElroy® Car Rental Services, Inc.  is a standard and registered car rental company that will be
located in Fort Lauderdale, Florida – United States of America and we plans to also cover other
cities such as Green – acres City, Miami, Jacksonville, Clearwater, Tampa, Miami Beach, North
Miami, West Palm Beach, Palm Harbor, Deltona, Orlando, Palm Bay and Panama City et al.

We chose to operate in these cities because we know that our car rental services will be in high
demand due to the growing numbers of corporate organization and increase in business activities
in these cities.

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McElroy® Car Rental Services, Inc. will offer care rental services such as leisure car rental, business
car rental, car leasing, and car sharing services et al. We are set to service a wide range of clientele
base in the locations where we choose to operate.

We are well trained and equipped to service the market segments that require the services of car
rental services. Although our intention of starting McElroy® Car Rental Services, Inc. is to offer
only the above stated services, but we will not close our doors to diversification (additional
services) as long as it does not affect our core services.

At McElroy® Car Rental Services, Inc. we are passionate in the pursuit of excellence and financial
success with uncompromising services and integrity which is why we have decided to start our
own car rental business; we are in the industry to make a positive mark.

We are quite optimistic that our values, highly reliable and comfortable fleet of cars and of course
the quality of service offering will help us drive our car rental business to enviable heights and also
help us attract the numbers of clients that will make the business highly profitable.

We are a company that will be dedicated to establishing good business relationship with our
clients giving them value for their money and reasons for them to rent and lease our cars over
and over again.

We are quite aware that in order to become the number one choice in our city, we must continue
to deliver quality services and that is exactly what we will do. Our overall business goal is to
position McElroy® Car Rental Services, Inc. to become one of the leading car rental company
brands in the United States of America within the first 10 years of operations.

This might look too tall a dream but we are optimistic that this will surely come to pass because
we have done our research and feasibility studies and we are enthusiastic and confident that
Florida is the right place to launch our car rental business.

Our client’s best interest will always come first, and everything we do will be guided by our values
and professional ethics. We will ensure that we hold ourselves accountable to the highest
standards by meeting our client’s needs precisely and completely. We will cultivate a working
environment that provides a human, sustainable approach to earning a living, and living in our
world, for our partners, employees and for our clients.

McElroy® Car Rental Services, Inc. is owned and managed by McElroy Williams and his immediate
family members. He is a notable figure in the automobile industry in Florida. Aside from this new
car rental services business, the family owns an automobile dealership business and also auto
repair workshop all in Florida.

Our Service Offerings

McElroy® Car Rental Services, Inc. is a standard and licensed car Rental Company that offers a
wide range of services that revolves around the car rental industry and other complementary
services. We intend giving our customers every reason to always rent or lease of cars which is why
we have customized our services, we want to be known as the trucking company that truly care
for her customers.

Our intention of starting our car rental company is to favorable compete in the industry and of
course to make profits from the industry and we will do all that is permitted by the law in the
United States of America to achieve our aim and business goal. Our business offering are listed
below;

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Leisure car rental services

Business car rental services
Exotic car rental
Car leasing services
Car sharing services

Our Vision Statement

Our Vision is to become the number one car rental company in the whole of Florida with active
presence in major cities in the United States of America and Canada.

Our Mission Statement

Our mission as a car rental company is to develop a highly successful, profitable all round car
rental business which provides quality services in our community and to become a standard for
an ideal car rental business not only in the State of Florida but also throughout the United States
of America and Canada where we intend selling our franchise.

Our Business Structure

We are quite aware that the success of any business lies in the foundation on which the business
is built on, which is why we have decided to build our car rental services company on the right
business foundation.

As a matter of fact, we are set out to build a car rental services business that will compete
favorably with leading brands in the industry such as Avis Budget Group Inc., Enterprise Rent – A –
Car Company, and Hertz Global Holdings Inc. and also become a standard for the car rental
services business in the United States of America and Canada.

We want to build a business of dedicated workforce who will go all the way to ensure that our
customers are satisfied and they get value for their money. In other to achieve this, we aware that
it takes a business with the right employees and structure to achieve all what we have set to
achieve, which is why will be putting structures and standard operating processes in place that will
help us deliver excellent services and run the business on auto pilot. The success of our car rental
services business will be anchored on the team not on any individual.
With the wide range of our service offerings, we are only expected to employ more than it is
required to run a conventional car rental services business. Definitely, we will have various
employees to man the various job roles available in McElroy® Car Rental Services, Inc.

As a means of maximizing operational cost, we will contract the maintenance of all our cars to
service provider, we don’t intend to maintain a very large overhead from the onset. But as soon as
the business grow and stabilize, we will assemble our own professional in – house maintenance
team.

McElroy® Car Rental Services, Inc. will employ professionals and skilled people to occupy the
following position;

Manager (Owner)
Accountant / Cashier
Marketing and Sales Executive
Client Service Executive
Car Washer and Auto Detailers (6)
Standby drivers

Roles and Responsibilities

Manager (Owner):

Responsible for providing direction for the business

Creating, communicating, and implementing the organization’s vision, mission, and overall
direction – i.e. leading the development and implementation of the overall organization’s
strategy.
Responsible for fixing prices and signing business deals and payment of salaries
Responsible for signing checks and documents on behalf of the company
Evaluates the success of the organization
Responsible for managing the daily activities in the organization
Ensures that the facility  is in tip top shape and conducive enough to welcome customers
Prepares budget and reports for the organization
Defines job positions for recruitment and managing interviewing process
Carries out staff induction for new team members
Responsible for overseeing the smooth running of HR and administrative tasks for the
organization
Designs job descriptions with KPI to drive performance management for all employees
Regularly hold meetings with key stakeholders (clients and member of the board) to review
the effectiveness of the business Policies, Procedures and Processes
Maintains office supplies by checking stocks; placing and expediting orders; evaluating new
products.
Ensures operation of equipment by completing preventive maintenance requirements;
calling for repairs.
Defines job positions for recruitment and managing interviewing process
Carries out staff induction for new team members
Responsible for training, evaluation and assessment of employees
Oversees the smooth running of the daily activities of organization.

Marketing and Sales Executive

Identify, prioritize, and reach out to new clients, and business opportunities et al
Identifies development opportunities; follows up on development leads and contacts;
participates in the structuring and financing of projects; assures the completion of projects.
 Writes winning proposal documents, negotiate fees and rates in line with organizations’
policy
Responsible for handling business research, market surveys and feasibility studies for clients
Responsible for supervising implementation, advocate for the customer’s needs, and
communicate with clients
Develops, executes and evaluates new plans for expanding increase sales
Documents all customer contact and information
Represent McElroy® Car Rental Services, Inc. in strategic meetings
Help increase sales and growth for McElroy® Car Rental Services, Inc.

Accountant / Cashier

Responsible for preparing financial reports, budgets, and financial statements for the
organization
Provides managements with financial analyses, development budgets, and accounting
reports; analyzes financial feasibility for the most complex proposed projects; conducts
market research to forecast trends and business conditions.
Responsible for financial forecasting and risks analysis.
Performs cash management, general ledger accounting, and financial reporting for the
organization
Responsible for developing and managing financial systems and policies
Responsible for administering payrolls
Ensures compliance with taxation legislation
Handles all financial transactions for McElroy® Car Rental Services, Inc.
Serves as internal auditor for McElroy® Car Rental Services, Inc.

Client Service Executive

Monitors the locations of cars rented by clients via car tracker software apps
Welcomes clients and visitors by greeting them in person or on the telephone; answering or
directing inquiries.
Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the
client with a personalized customer service experience of the highest level
Through interaction with clients on the phone, uses every opportunity to build client’s
interest in the company’s products and services
Manages administrative duties assigned by the manager in an effective and timely manner
Consistently stays abreast of any new information on the organizations’ products and,
promotional campaigns etc. to ensure accurate and helpful information is supplied to clients
when they make enquiries

Car washers and Automobile Detailers (6):

Responsible for cleaning, restoration, and finishing of all our cars, both inside and out, to
produce a pristine level of detail
Handle services that involves cleaning and restoring or exceeding the original condition of
the surface of the car’s finish (usually a paint with a glossy finish), chrome trim, windows,
wheels, and tires, as well as other visible components on the exterior and of course interior
of a vehicle.
Cleans up after customers and clean work area.
Maintain a clean working area by sweeping, vacuuming, dusting, cleaning of glass doors and
windows, etc. if required.
Ensures that toiletries and supplies don’t run out of stock
 Handles any other duty as assigned by the manager.

Standby Professional Drivers:

Responsible for driving, parking and re – parking of cars as required

Runs errand for the organization
Handles any other duty as assigned by the manager.
Car Rental Business Plan – SWOT Analysis
Car rental business is one of the many businesses that can easily generate sales with little stress
as long as they are well positioned and equipped to carry out their services. We are building a
standard car rental services business with variety of complimentary services which is why we have
decided to subject our business idea (company) to SWOT Analysis.

Ordinarily we can successfully run a normal car rental services business without the stress of
going through the required protocol of setting up a new business including writing a detailed
business plan, but because of the nature of the kind of car rental business we want to establish
and of course the huge start – up capital involved, we don’t have any option other than to follow
due process.

We hired the services of Dr. Angela Bozeman, an HR and Business consultant with bias in startups
to help us conduct SWOT analysis for our company and she did a pretty job for us. Here is a
preview of the result we got from the SWOT analysis that was conducted on behalf of McElroy®
Car Rental Services, Inc.;

Strength:

Aside from the large fleet of comfortable and highly reliable cars under our rental services,
McElroy® Car Rental Services, Inc. is centrally located in a densely populated industrial and
residential estate in Fort Lauderdale, Florida; our location is in fact one of our major strength.

Another strength that counts for us is the power of our team; our workforce and management.
We have a team that are considered expert in the car rental industry, a team of hardworking and
dedicated individuals.

Weakness:

McElroy® Car Rental Services, Inc. is a new business which is owned by an individual (family), and
we may not have the financial muscle to sustain the kind of publicity we want to give our business.
As a new business, we are also quite aware that it will take time for us to build trust with our
clients.

Opportunities:

We are centrally located in one of the busiest areas in Fort Lauderdale, Florida and we are open to
all the available opportunities that the city has to offer. Our business concept also positioned us to
be a one stop shop in the car rental line of business.

The truth is that there is no standard and well – equipped car rental business within the area
where ours is going to be located; the closest car rental services company to our proposed
location is about 6 miles away. In a nutshell, we do not have any direct competition within our
target market area.

Threat:
Some of the threats that are likely going to confront McElroy® Car Rental Services, Inc. are
unfavorable government policies, seasonal fluctuations, demographic / social factors, downturn in
the economy which is likely going to affect consumers spending and of course emergence of new
competitors within the same location where our car rental business is located.

Car Rental Business Plan – MARKET ANALYSIS

Market Trends

If you are conversant with one of the latest trends in the car rental services industry, you will note
that more people now book to rent cars via mobile application, and other internet access rather
than visiting the car rental office. Car rental mobile application usage has seen an increment in
recent time. The car rental business is also segmented into organized and unorganized labor, with
the organized labor expected to provide the highest incremental opportunity going forward.

No doubt, the Car Rental Services industry has indeed changed gears over the last five years,
growing strongly after being forced into retrogression during the recession period. The fact that
air travelers represent the industry’s primary market, growth in air travel over the last five years
has been most important in driving revenue expansion in this industry.

Furthermore, the industry is anticipated to continue growing going forward, driven by an increase
in the number of air travelers, rising per capita income and of course rising corporate profit as
well. The industry’s largest companies are expected to retain their competitive advantages over
smaller players, such as maintaining strategic alliances with airlines and hotels

The trend in the car rental services industry is that most car wash companies in the bid to survive
the recent global economic meltdown included additional services to their core service offerings. It
is much easier for car rental companies to increase their revenues by diversifying as against
increasing the scope of their market.

Our Target Market

Before choosing a location for our car rental services business, we conducted our feasibility
studies and market survey and we were able to identify those who will benefit greatly from our
service offerings. Basically those who will benefit from our service offering are households,
traveling agencies cum tourists, corporate organizations and hotels et al. They cut across different
sectors of the economy.

The demographic component of those who need the services of car rental services spreads across
the public sector, the organized private sector, and individuals from different strata of the society
and from all walks of life. Below is a list of the people and organizations that our car rental service
is designed for;

Traveling Agencies and tourists

Organized private sector
Households
Corporate Executives
Business People
Hotels
Students
Household

Our Competitive Advantage

Car rental services business is an easy to set up business that does not require formal training to
achieve; anybody can set a car rental services business if they have the required startup capital. It
means that the possibility of car rental services business springing up in the location where our
car rental company is located is high. We are aware of this which is why we decided to come up
with a business concept that will position us to become the leader in Fort Lauderdale – Florida.

Our competitive edge is that we are standard car rental service company with fleet of comfortable
cars and affordable services. So also, the power of our team; our workforce and management. We
have a team that are considered expert in the car rental services industry, a team of hardworking
and dedicated individuals.

We can confidently say that the location of our car rental services business will definitely count as
a positive for us amongst any competitor that might start a car rental services business in same
location where ours is located.

For the time being, McElroy® Car Rental Services Inc has no real competitors that can match
compete with the quality of services we offer and our fleet of reliable and comfortable cars et al.
Our customer service will be customized to meet the needs of all our customers.

Lastly, all our employees will be well taken care of, and their welfare package will be among the
best within our category (startups car rental services business in the United States) in the industry.
It will enable them to be more than willing to build the business with us and help deliver our set
goals and achieve all our business aims and objectives.
Car Rental Business Plan – SALES AND MARKETING STRATEGY
Marketing Strategy and Sales Strategy

The marketing strategy for McElroy® Car Rental Services, Inc. is going to be driven basically by
reliable and comfortable cars, excellent customer service, honesty and quality service delivery. We
will ensure that we build a loyal customer base. We want to drive sales via the output of our
services and via referral from our satisfied customers. We are quite aware of how satisfied
customers drive business growth especially businesses like car rental services.

McElroy® Car Rental Services, Inc. is a car rental services business that is strategically located and
we are going to maximize the opportunities that is available which is why we spend more to locate
the business in a location that will be visible and enable us to access our target market.

Our sales and marketing team will be recruited based on their vast experience in the industry and
they will be trained on a regular basis so as to be well equipped to meet their targets and the
overall goal of McElroy® Car Rental Services, Inc.

Our goal is to grow McElroy® Car Rental Services, Inc. to become the leading car rental services
company in Fort Lauderdale – Florida which is why we have mapped out strategy that will help us
take advantage of the available market and grow to become a major force to reckon with in the
car rental services industry.

McElroy® Car Rental Services, Inc. is set to make use of the following marketing and sales
strategies to attract clients;

Introduce our car rental services business by sending introductory letters alongside our
brochure to corporate organizations, traveling agencies, hotels, households and key stake
holders in Fort Lauderdale – Florida
Print out fliers and business cards and strategically drop them in offices, libraries, public
facilities, airports and train stations et al.
Use friends and family to spread word about our business
 Post information about our company and the services we offer on bulletin boards in places
like schools, libraries, and local coffee shops et al
Placing a small or classified advertisement in the newspaper, or local publication about our
company and the services we offer
Leverage on referral networks such as agencies that will attract clients who would need our
customized services
Advertise our car rental services company in relevant magazines, newspapers, TV stations,
and radio station.
Attend relevant expos, seminars, and business fairs et al to market our services
Engage in direct marketing approach
Encourage the use of word of mouth marketing from loyal and satisfied clients
Join local chambers of commerce and industry to market our services.

Lastly, we need an online presence; a good website and ensure that it is Search Engine
Optimization (SEO) Compliant if you intend to achieve a good number of visitors that would
patronize your car rental business. The truth is that, a website ensures that our business remains
visible to your existing and potential customers.

Sources of Income

McElroy® Car Rental Services, Inc. is established with the aim of maximizing profits in the car
wash and auto detailing industry and we are going to go all the way out to ensure that we do all it
takes to attract both individual clients and corporate clients on a regular basis.

McElroy® Car Rental Services, Inc. will generate income by offering the following car rental
services and other related services;

Leisure car rental services

Business car rental services
Car leasing services
Car sharing services

Sales Forecast

One thing is certain; there would always be corporate organization and individual clients who
would need the services of car rental services company.

We are well positioned to take on the available market in Fort Lauderdale – Florida and we are
quite optimistic that we will meet our set target of generating enough income / profits from the
first six month of operations and grow our car rental services business and our clientele base.

We have been able to critically examine the car rental services market and we have analyzed our
chances in the industry and we have been able to come up with the following sales forecast. The
sales projection is based on information gathered on the field and some assumptions that are
peculiar to similar startups in Fort Lauderdale – Florida.

Below is the sales projection for McElroy® Car Rental Services, Inc., it is based on the location of
our business and of course the wide range of related services that we will be offering;

First Fiscal Year-: $250,000

Second Fiscal Year-: $550,000
Third Fiscal Year-: $1 Million

N.B: This projection is done based on what is obtainable in the car rental services industry and
with the assumption that there won’t be any major economic meltdown and there won’t be any
major competitor offering same additional dance related services as we do within same location.
Please note that the above projection might be lower and at the same time it might be higher.

Our Pricing Strategy

Our pricing system is going to be based on what is obtainable in the car rental services industry,
we don’t intend to charge more (except for premium and customized services) and we don’t
intend to charge less than our competitors are offering in Fort Lauderdale – Florida.

Be that as it may, we have put plans in place to offer discount services once in a while and also to
reward our loyal customers especially when they refer clients to us. The prices of our services will
be same as what is obtainable in the open market.

Payment Options

At McElroy® Car Rental Services, Inc., our payment policy will be all inclusive because we are quite
aware that different clients would prefer different payment options as it suits them. Here are the
payment options that we will make available to our clients;

Payment by via bank transfer

Payment via POS machine
Payment via online bank transfer
Payment via check
Payment via bank draft
Payment via mobile money
Payment with cash

In view of the above, we have chosen banking platforms that will help us achieve our plans with
little or no itches. Our bank account numbers will be made available on our website and
promotional materials so that it will be easier for clients to make payments when necessary.
Car Rental Business Plan – Publicity and Advertising Strategy
McElroy® Car Rental Services, Inc. is set to create a standard for car rental services business in
Fort Lauderdale – Florida and throughout the United States which is why we will go all the way to
adopt and apply best practices to promote our car rental services business.

Good enough, there is no hard and fast rule on how to advertise or promote a car rental services
business. The challenge is that most car rental services companies are not as proactive as we
intend to be when it comes to effective publicity and advertising.

We will ensure that we leverage on all conventional and non – conventional publicity and
advertising technique to promote our car rental services business. Here are the platforms we
intend leveraging on to promote and advertise McElroy® Car Rental Services, Inc.;

Encourage our loyal customers to help us use Word of Mouth mode of advertisement
(referrals)
Advertise our car wash and auto detailing business in relevant magazines, local newspaper,
local TV stations and local radio station
Promote our business online via our official website
List our business on local directories (yellow pages)
Sponsor relevant community programs
Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, et al
to promote our brand
Install our Bill Boards on strategic locations in and around Fort Lauderdale – Florida
Leverage on direct coupon mailing approach
Engage in road show from time to time in target communities
 Distribute our fliers and handbills in target area
Ensure that all our staff members wear our branded shirts and all our official vehicles are
well branded with our company logo et al.

Start – Up Expenditure (Budget)

We have been able to pull cash that will be enough for us to successfully launch a standard car
rental services company with fleets of comfortable and reliable cars. We will leverage on leasing
opportunity as against outright purchase of cars meant for rental services. So also in the bid to cut
cost, we will contract the servicing and maintenance of all our cars.

These are the key areas where we will spend our start – up capital on;

The Total Fee for Registering the Business in Fort Lauderdale – Florida – $750.
Legal expenses for obtaining licenses and permits – $1,500.
Marketing promotion expenses (2,000 flyers at $0.04 per copy) for the total amount of
$3,580.
Cost for hiring Business Consultant – $2,000.
Insurance (general liability, workers’ compensation and property casualty) coverage at a total
premium – $60,800.
Cost of accounting software, car tracker software apps, CRM software and Payroll Software –
$3,000
Cost for leasing standard office facility with large space for parking our cars- $250,000.
Cost for facility remodeling the facility- $70,000.
Other start-up expenses including stationery – $1000
Phone and utility deposits – $3,500
Operational cost for the first 3 months (salaries of employees, fueling, maintenance,
payments of bills et al) – $2500,000
The cost for Start-up inventory – $15,000
Cost for store equipment (cash register, security, ventilation, signage) – $13,750
The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs,
Credit card machine, POS, tables and chairs et al): $4,000.
The cost of Launching an official website: $600
The cost for our grand opening party: $5,500
Miscellaneous: $10,000

We would need an estimate of $1.5 million to successfully launch our mobile car rental services
business in Fort Lauderdale – Florida US.

Generating Funding / Startup McElroy® Car Rental Services, Inc.

McElroy® Car Rental Services, Inc. is a business that will be owned and managed by McElroy
Williams and his immediate family members. They are the sole financial of the business which is
why they decided to restrict the sourcing of the start – up capital for the business to just three
major sources.

These are the areas we intend generating our start – up capital;

Generate part of the start – up capital from personal savings and sale of his stocks
Generate part of the start – up capital from friends and other extended family members
Generate a larger chunk of the startup capital from the bank (loan facility).

N.B: We have been able to generate about $500,000 (Personal savings $400,000 and soft loan
from family members $100,000) and we are at the final stages of obtaining a loan facility of $1
million from our bank. All the papers and document has been duly signed and submitted, the loan
has been approved and any moment from now our account will be credited.
Car Rental Business Plan – Sustainability and Expansion Strategy
It is an established fact that, the future of a business lies in the numbers of loyal customers that
they have, the capacity and competence of the employees, their investment strategy and the
business structure. If all of these factors are missing from a business (company), then it won’t be
too long before the business close shop.

One of our major goals of starting McElroy® Car Rental Services, Inc. is to build a business that will
survive off its own cash flow without the need for injecting finance from external sources once the
business is officially running. We know that one of the ways of gaining approval and winning
customers over is to offer our car rental services a little bit cheaper than what is obtainable in the
market and we are well prepared to survive on lower profit margin for a while.

McElroy® Car Rental Services, Inc. will make sure that the right foundation, structures and
standard operating processes are put in place to ensure that our staff welfare are well taken of.
Our company’s corporate culture is designed to drive our business to greater heights and training
and re – training of our workforce is at the top burner of our business strategy.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff
and it will be based on their performance for a period of five years or more as determined by the
board of the organization. We know that if that is put in place, we will be able to successfully hire
and retain the best hands we can get in the industry; they will be more committed to help us build
the business of our dreams.

Check List / Milestone

Business Name Availability Check: Completed

Business Registration: Completed
Opening of Corporate Bank Accounts: Completed
Securing Point of Sales (POS) Machines: Completed
Opening Mobile Money Accounts: Completed
Opening Online Payment Platforms: Completed
Application and Obtaining Tax Payer’s ID: In Progress
Application for business license and permit: Completed
Purchase of Insurance for the Business: Completed
Acquiring facility and remodeling the facility: In Progress
Conducting Feasibility Studies: Completed
Generating capital from family members: Completed
Applications for Loan from the bank: In Progress
Writing of Business Plan: Completed
Drafting of Employee’s Handbook: Completed
Drafting of Contract Documents and other relevant Legal Documents: In Progress
Design of The Company’s Logo: Completed
Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
Recruitment of employees: In Progress
Purchase of the Needed pressure washing machines and industrial cleaning equipment,
electronic appliances, office appliances and bar accessories: In Progress
Creating Official Website for the Company: Completed
Creating Awareness for the business both online and in the neighborhood:
Opening party / launching party planning: In Progress
 Establishing business relationship with vendors – car servicing and maintenance, car
dealership shops, and gas stations et al: In Progress

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