If you are considering starting up your own hire operation then there are a good few things you need to consider. Being such a busy and monopolised industry it is important that you stand out, offering an expert, honest service that will encourage customer retention levels to be proud of. Having seen so many hire firms come and go over the past few years we at Anything for Hire have managed to whittle down a few success factors, wanting to share them with the aspiring hire entrepreneurs out there.
The business model
While a pretty obvious one it is nonetheless a point that needs to be considered, deciding what type of structure makes you and your firm the most money, whilst allowing you to work in an effective fashion. Believing in the method of trial and error a business model is not something that is fixed, so you can change things up as and when you feel necessary. However, to get it right first time is the dream, allowing you to start your plans for business growth from the offset.
In our opinion your target market, vehicles, rates, rivalry, latest technology and personnel should form the base for your model.
Create a strategy for fleet hire
The hire/rental model is all about scale, with the more products (cars) out on hire the bigger the profit numbers. This is why fleet hire is the best area for all car rental firms to get into, dealing with just a few customers and allowing the business to operate as a well-oiled machine. By bagging just a small amount of these contracts you will be able to use that free time to chase new business, aiding your growth plans whilst making money.
Marketing
Nowadays we do not simply locate businesses through the Yellow Pages, using the internet to read reviews, ask friends and do our research on a product or service. This is why as a business you need to ensure that what they do find is positive, feeding potential customers as much information about what you can offer as possible. For this reason your marketing should be tailored to speak directly with your business mission, acquiring the right types of customers in the areas that will best increase business revenue.
If you are part of a hire business and have any advice you wish to share then be sure to leave your comments below.
