Trends in business travel and spending family holidays abroad is currently on the upswing and it’s coming back due to faster economic recovery as a result of high consumer spending after the recession.
The airline industry is now on its road to recovery due to increase of its booking on e-ticketing for corporate travel and family vacation travel.
Hence, car rental and travel management companies outlook overseas seems to be on a fast demand and they see that revenue is growing again, therefore, this is the right time to capture the market.
Clients or corporate business travelers look to their travel management companies for consolidation of global travel and cost savings.
Advantages of Setting up or to do Merger/Acquisitions of Car Rental Business
- Every business traveler or spending family vacation wants to maximize their time, so, upon arrival, they wanted an exotic car rent to pick them up from the airport to hotel or to any point of destination.Every traveller wants to feel different abroad, so using exotic car rent will uplift them in travelling or on a vacation in style. They wanted to stand out in the crowd.
- Car rental would also lessen cost for any corporate business traveller or foreigners. Due to continuing high price of petroleum products or gasoline, a traveller would prefer pass the cost to car rental. Corporate companies would also like to avoid car commitment or car maintenance. It is also been a practice, in some countries, that riding a taxi, a driver would charge the foreigner higher rate, so, car rent is advisable for every traveller.
- Car rental will help address environmental protection issues by following government measures to lessen or control purchase of cars.
Tips or Strategies to be Competitive in the Industry
- Increase Customer Satisfaction level for every customer by investing on the latest model of luxury or exotic car and be sure to protect your cars with a clear bra. Post or create your luxury car rental company vision and mission statement to create an impression from the travellers point of view that they are using a world-class car rental company.To increase customer base, make them feel that they are precious and prestigious.
- Capture young travellers by being updated in IT and use eye catching, good design WEB page for your car rental business. Stylish WEB page design and a fantastic company logo can easily attract young travellers and it’s a reflection of your car rental. It is how they perceive your company. Attached RFID to your cars for tracking purposes. If possible, maximize the use of call centers for reservation applications of travellers. Create a Facebook account and use updated application technologies for your car rental business.
- Do credit investigation check for credit card holders and use IT as a utility.
- A car rental business offers car services for a short period or weeks for a fee. With this in mind, make this lasting to your clients or travellers lasting by providing them drivers or chauffeurs that are honest, can start conversation during the trip, knowledgeable about the place and neat looking. They should be trained drivers or chauffeurs and car interiors should be clean and car body should be waxed and properly maintained.
Of course, being in a car rental business and the company had invested in luxury, exotic cars, car and car rental insurance should not be taken for granted. Make sure your insurance company will offer you complete travel and car maintenance insurance.
Hire sales person that are knowledgeable in the business, dedicated and hardworking. Knows how to communicate with corporate executives and can make a good marketing plan to increase customer base and sales.
Create a company logo that can easily capture clients (young and old), corporate business travellers and have it readily available in hotels, airports and all tourist destination.