No Substitute For Quality Business Plan
While we might come across terms like cheap luxury cars, affordable exotic car rental options and so on at the end of the day there is no doubt that quality sells and from the long term perspective it is the best way forward. Hence, you must try and come out with a business plan which is foolproof and workable from the long term perspective. Though the initial days might be a struggle, you can be sure that you will be able to make it succeed provided you continue to offer the best possible services to customers at all point of time.
Never Take Competition Lightly
When you get into the luxury car rental business you must be sure that you will be encountering fierce competition. You can also be certain that competition will be ruthless and they might even adopt the most unfair methods of doing business. You must learn to take this in your stride and this will be possible only when you always focus on quality and adding value to your customers.
While there is no doubt that cost is an important factor, you should not undersell your services beyond a point. You would then be clubbed with the also ran group of companies. It will not be long before your business loses sheen and you will literally be “priced out” of the market. Hence, you must know which segment to address and consolidate your position there by offering value additions to your customers on an ongoing basis.
You also must have the best of fleet available with you and must know how to manage your inventory properly. Without this being in place you will not be able to satisfy the varying needs and requirements of customers. On the one hand you could have customers looking out for Jaguars and other end of the spectrum there could be customers who might want to travel in hired Lamborghini or even Limousines. You must be able to cater to all these customers but without compromising on quality and without damaging your profitability beyond a point.