|Current Status||Concept / Business Plan|
|Funding Required||RM300,001 to RM600,000|
|Description||RW Car Rentals Sdn Bhd. plans to be a standard and registered car rental company that will be located in Setia Alam, Shah Alam– Malaysia and we plan to also cover other cities such as Klang, Shah Alam, Subang, Petaling Jaya, Bukit Raja, Puchong, Puncak Alam and Bukit Jelutong.|
We chose 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, increase in business activities and the number of colleges/universities in these cities.
RW Car Rentals Sdn Bhd. will offer care rental services such as leisure car rental and business car rental. We are set to service a wide range of clientele base in the locations where we choose to operate.
Although our intention of starting RW Car Rentals Sdn Bhd. 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 RW Car Rentals Sdn Bhd. 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 clean 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 RW Car Rentals Sdn Bhd. to become one of the leading car rental company brands in the Selangor 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 Shah Alam 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.
RW Car Rentals Sdn Bhd. will be owned and managed by M. Razi Wilson and his wife. He is currently a sales and marketing exec in the LP Gas industry in Selangor.
|Business Opportunity||We are centrally located in one of the busiest areas in Selangor, Malaysia and we are open to all the available opportunities that the city has to offer. Our business concept will also position us to be a one stop shop in the car rental line of business.|
Our main target market is students from the 14 universities & 19 colleges surrounding our location.
Imagine an air conditioned franchised outlet where all you have to do to rent our cars is to walk in with your ID, license and payment and drive away with a car all in under 5 minutes.
The truth is that there is no standard, licensed 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 20km away. In a nutshell, we do not have any direct competition within our target market area.
|Revenue / Business Model||RW Car Rentals Sdn Bhd. will be established with the aim of maximizing profits in the car rental and leasing 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.|
RW Car Rentals Sdn Bhd. will generate income by offering the following car rental services and other related services;
Leisure car rental services
Business car rental services
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 Shah Alam 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 this industry.
Below is the sales projection for RW Car Rentals Sdn Bhd., it is based on the location of our business and of course the range of related services that we will be offering;
10 Perodua Axia 1.0A= RM120/day x 30days x 12months x 65% booking rate
First Fiscal Year-: MYR280,800
We plan on offering a wider range of cars such as MPV’s and SUV’s starting from the 2nd year on.
Second Fiscal Year-: MYR631,800
Third Fiscal Year-: MYR865,800
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.
|Management Team||Manager (Owner): M. Fakhrur Razi Wilson|
-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
-Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
-Responsible for training, evaluation and assessment of employees
-Oversees the smooth running of the daily activities of organization.
-Represent RW Car Rentals Sdn Bhd. in strategic meetings
-Help increase sales and growth for RW Car Rentals Sdn Bhd.
-Identify, prioritize, and reach out to new clients, and business opportunities.
-Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the
completion of projects.
-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
-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 RW Car Rentals Sdn Bhd.
-Serves as internal auditor for RW Car Rentals Sdn Bhd.
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
-Manages administrative duties assigned by the manager in an effective and timely manner
|Funding Milestone||These are the key areas where we will spend our start – up capital on;|
The Total Fee for Registering the Business in Shah Alam – MYR3,000.
Legal expenses for obtaining licenses and permits – MYR7,000
Marketing promotion expenses – MYR4,000.
Cost for hiring staff – MYR3,000.
Insurance (general liability, cars, workers’ compensation and property casualty) coverage – MYR33000.
Cost of accounting software, car tracker software apps, CRM software and Payroll Software – MYR5,000
Cost for leasing standard office facility – MYR10,000.
Cost for facility remodeling the facility- MYR30,000.
Other start-up expenses including stationery – MYR2,000
Phone and utility deposits – MYR1,500
Operational cost for the first 3 months (salaries of employees, fueling, maintenance, payments of bills et al) – MYR40,000
10 Cars – MYR300,000
The cost of Launching an official website: MYR1,000
We would need an estimate of MYR500,000 to successfully launch our franchise car rental services business in Shah Alam.
|% Equity Allocation||Open for discussion.|
|Expected ROI||Open for discussion.|
|Risks and Mitigation||RW Car Rentals Sdn Bhd. 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.|
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 Shah Alam.
Some of the threats that are likely going to confront RW Car Rentals Sdn Bhd. 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.
Our main advantage is that most car rental business in Selangor provide slow service, indecent looking cars, are unlikely to be licensed and are usually run with out the proper permits.
|Exit Strategies||Open for discussion.|
|Company Name||RW Car Rentals Sdn Bhd|
|Business Address||Setia Alam, Shah Alam|
|Contact Person||M. Razi Wilson|