Different Results with a
Different Point of View

Everyone has heard the colloquial definition of insanity: "Doing the same thing and expecting different results."

Wilkinson Thomas Consulting is not the same thing.

Below are the topics that we can help with, plus more!

Vehicle Rental Management & Operations

Overview

Our work will provide you with both a basic and ⁄ or an advanced understanding of how a typical vehicle rental business operates. We can discuss the largest major daily rental companies, the mid size franchise, regional or independent daily rental businesses and the smallest departmental operations within an automotive dealership.

We will identify the various market segments, and examine how we obtain the ideal mix of business. We will examine the criteria used to purchase and dispose of vehicles. We will look at the problems and opportunities that arise to achieve the desired profitability.

Our courses and training are designed for business people who wish to enhance their knowledge regarding an important area in the automotive industry; for existing daily rental employees who want to understand the fundamentals of the daily rental business in order to advance to more senior positions; and for automotive dealership management who wish to examine daily rental as a profitable department in their dealership business.

Learning Outcomes

• Understand how profitability can be achieved in this industry for the largest and smallest entrepreneurs
• Understand the various market segments that make up the vehicle rental industry
• Learn the key measurements used in this industry for both revenue generation and expense control
• Learn the best business practices in Rental Operations, Internal Controls, and Revenue Management
• Develop a Strategy and complete a Business Plan

Possible Content and Training Subject Matter

• Industry Overview – understand the dynamics of the vehicle rental industry including the customers, the history, the growth and the future.
• Key Measurements – We will look at the indices used by all levels of management on an hourly, daily, weekly, monthly and yearly perspective to measure the areas of the business that affect the overall levels of service and ultimately the company´s ⁄ departments profitability.
• Best Business Practices – Rental Operations – These are the management reports that are used by the operations personnel to maximize revenue and ⁄ or control the assets of the company.
• Best Business Practices – Internal Controls – Discussions will concentrate on audit functions and security of assets.
• Fleet Planning – In this area, we would discuss what differentiates the daily rental industry from regular fleet customers. We would look at it from the daily rental and from the manufactures perspective. Examples of the unique incentives that have been offered by the different manufacturers to address the needs of the manufacturer and the needs of the daily rental industry would be discussed. The importance of a fleet plan. Fleet purchases and disposals are planned by month for 18 months into the future. The interaction between fleet, pricing, purchases, remarketing all would be discussed.
• Internet Application – Travel for airlines, hotels and vehicle rental were pioneers in the use of the internet. It is not only a marketing and advertising tool but an essential part of Revenue Management. Reservations are generated through the telephone via call centres or simple local calls and by way of the Internet. Understanding the sophisticated interaction between call centres, local calls and the internet while recognizing that there are booking patterns and that demand can be manipulated and maximized is critical to overall good customer service and profitability.
• Best Business Practice – Incremental Revenue – This area deals with the expectations of the counter personnel. It measures and rewards their effectiveness as it relates to good customer service, the sales of additional products.
• Human resources – Here we discuss how we select the right candidate for the right job. An example would be to identify outgoing personnel for the counter position or detail oriented for Internal Control. The importance of teamwork as the frontline personnel depends on the operations people for supply of vehicles. Incentive packages to reward top performance. Competitive research to retain personnel. Topics like these three would be discussed.
• Trucks compliment the car rental business. We will understand how, when, and why trucks are important.
• Local Market Analysis – Each market is somewhat unique. Identifying the market and how to penetrate it would be discussed. Examples are corporate business traveler, leisure, insurance replacement, warranty replacement, tour, and daily, weekly, monthly. We would discuss how to do a competitive analysis, and also discuss market segmentation.
• Developing a Local Marketing Plan – Once the market segmentation is completed, and the competition has been identified, how do we attack the market segments that are attractive to your unique market? What method of solicitation is chosen, the size of the budget, implementation, and measurement of effectiveness?
• Local Sales – To retain customers and acquire new ones requires interaction with customers. Here we would discuss what would be said at the sales meeting. Identifying and satisfying the customer´s needs from both a price and service level. Developing a sales package that could be modified based upon the needs of the customer would be discussed.
• Strategic Planning – Once we are comfortable with how all the pieces fit together, we are ready to do a strategic plan. Normally this is for the next 12 month period. We would start by looking at the previous 12, 24, or 36 months and consider the growth in volume and revenue. By considering the change in the competitive environment, the manufacturers fleet programs, and our own expectations we can develop a perfect plan for the next 12 months.
• Business Plan – This is the finalé. This is what the financial institution wants to see. A good Business Plan is the key to sustained growth and profitability. We would follow our strategy and forecast based upon our key statistics the next 12 months worth of business. We would layer in our fleet plan with its purchases and disposals. Finally add in the expenses that we have trended and we have a Business Plan that is well planned and ready for implementation.
• Open Discussion – We will look at minor topics including the various franchise systems versus an independent brand, risk management, financing the fleet, labour-management relations and leasing as a compliment to car rental. We will review the prior thirteen lessons and have an open discussion on this course and any other topic.