Are you about starting a car rental business?

If YES, here’s a complete sample exotic car rental

business plan template & feasibility report you can use for FREE to raise money.

Okay, so we have considered all the requirements for 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.

Table of Content

 1 What Does It Take to Start a Car Rental Business Successfully?

 2 Industry Overview

 3 Car Rental Business Plan Executive Summary

 4 Our Service Offerings

 5 Our Mission and Vision Statement

 6 Car Rental Job Roles and Responsibilities

 7 Car Rental SWOT Analysis

 8 MARKET ANALYSIS

 9 Our Target Market

 10 SALES AND MARKETING STRATEGY

 11 Sales Forecast

 12 Publicity and Advertising Strategy

 13 Our Startup Expenditure (Budget)

 14 Sustainability and Expansion Strategy

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 choose 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.

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;

 Leisure car rental services

 Business car rental services

 Exotic car rental

 Car leasing services

 Car sharing services

Our Mission and 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 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
Car Rental Job 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 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.

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.

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.

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.

Our Startup 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.

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