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Risks of a Car Rental Bussines

    • 107 posts
    June 30, 2010 9:21 PM EDT

    Dude, I like your enthusiasm. However, try working in a car rental company first. That way, you would know the ins and outs of the business and have a better idea of the kind of cars people who rent and what the customers really want in terms of pricing and service.

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    • 3 posts
    November 19, 2007 1:05 AM EST
    Hi, I am 18 yrs old and interetstind in opening a car rental company, in Jan 08. I was wondering if anyone has any experenice in this area, and if you could share your difficulites and successes in the bussinesss.
    Thanks .
    • 3 posts
    November 19, 2007 8:41 PM EST
    Hey thanks, for your reply. My bussiness model is aimed to more to students, who need cars for their Driving test. Ive heard many student canceling their Driving tests, because their parents are busy and they cant get a car from anywhere. As for my cars, I will only start out with a single car, since I dont want to risk too much money. I will probably use car around 2000 range. For example I have a 90 Toyota Corolla, which is a very easy to drive car, my friends say. The reasons why I like this bussiness is because I do not have to buy or lease a space,  I can run it from home, also I have the advantage of the Networking through Highschool in where I have the possiblty accuring customers. I am hoping to start this Bussiness in Jan 08, what do you think of the idea?
     
     
    Thanks
    • 3 posts
    November 20, 2007 7:21 PM EST
    Hey thanks for your reply Scott, I went to the city hall today (Maple Ridge, B.C.) and got all of the info and liecensing and stuff. I was wonderning am I not allowed to run this bussiness from home. My plan is to drive my car as normal, but whenever it is booked, I will deliver the car to the person. I guess I will have to clear that up my city. However for the worries you had, I think I`ve got them covered. My plan is to hire a driver that will drop off and pick up the customer right, so before the student takes the driving test, there will by my driver in the car, and when the student is taking the test, the Instructor will be in the car, and then my driver will drop the customer so the chance of the customer stealing the car is very slim. Also the car will be fully insured, as a fleet, not to sure on the terms yet, but yes there is a risk of an accident occuring but to be successful you have to take risks right.
     
    Thanks
    Sun Gill
    • 14 posts
    December 11, 2011 3:35 AM EST

    I like your enthusiasm. However, try working in a car rental company first. That way, you would know the ins and outs of the business and have a better idea of the kind of cars people who rent and what the customers really want in terms of pricing and service.

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    • 14 posts
    November 28, 2011 2:50 AM EST

    I don’t have much knowledge about this car rental business, but I would like to advise you that every business has some level of risk and reward. So you need to calculate the risk and reward of that particular business, then you should any money in that particular business.

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    • 35 posts
    September 5, 2011 6:58 PM EDT

    I just rented a car for a trip. At first I tried the various discount/lowcost travel sites. Then I went on one of my cr card sites. They love to sell you parts cars travel! I couldn't believe the rates. I booked a car, even paying with another card. When I do something like this online, I take a screenshot of every page I go thru in the process. Take a printout of them with you. This way there are no surprises and you have proof of your agreement. (I was esp suspect of this one, but absolutely no flags came up throughout the process)

    Great advice from LY; check your coverage and do not pay them for gas. Gas up before you head to the airport.

    Have a great trip!

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    OurHomeLoans

    • 3 posts
    September 26, 2013 3:00 AM EDT

    Hi everyone! the thread seems to be intersting aqs the risk involved in the car rental business is very high, but if proper and well care and planning is done for the hirign services thenb surely the risk can get reduced or even the risk will not be there at all.

    • 42 posts
    November 22, 2011 10:00 PM EST

    You need to do three steps to get success

     

    1. Market research

    Research for another service provider. Which rate they provide and which facilities they are providing and the price at which they offer their services. A region which is being covered by them . Demand of the business in specific region.

    2. Estimation of acquiring customers

    Once you start a business, you must estimate the profit you will get from that business and no. of customers require each day, week or month to get good profit to pay loan as well.

    3. Marketing business for more

    Once you get enough customers at the initial level to pay bank loan  and to get food on your table, you need to expand it in the correct way to get more customers. You can directly tie up with driving schools to get more exposure or with universities to get more students as  you have specified.

     

    • 3 posts
    December 31, 2013 12:41 AM EST

    I have just availed car rental services and honestly, there is no risk involved while hiring the car.

    Singapore Car Rental

    • 2 posts
    September 13, 2014 1:18 AM EDT
    Thanks for pointing these things out. Yeah I know that there are actually a lot of risks when into a car rental businesses. I am sure things will be so fine.

    Thanks,

    This post was edited by hogsonkeisha at September 13, 2014 1:20 AM EDT
    • 2 posts
    September 13, 2014 1:20 AM EDT
    Thanks for pointing these things out. Yeah I know that there are actually a lot of risks when into a car rental businesses. I am sure things will be so fine.

    Thanks,
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