Car Rental Business Plan Template

A business plan provides a snapshot of your car rental business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

If you’re looking to start a car rental business, or grow your existing car rental business, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your car rental business in order to improve your chances of success. Your car rental business plan is a living document that should be updated annually as your company grows and changes.

The main sources of funding for a car rental business are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.

The second most common form of funding for a car rental business is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding, or, like a bank, they will give you a loan. Venture capitalists will not fund a car rental business. They might consider funding a car rental company with a national presence, but never an individual location. This is because most venture capitalists are looking for millions of dollars in return when they make an investment, and an individual location could never achieve such results.

Growthink's Ultimate Business Plan Template allows you to quickly and easily complete your Car Rental Business Plan.