The recent boom in the business-to-business vehicle rental market has had a huge impact on Fownd in the past year. We had to move company location to a larger building in January, as the previous location could not fit the new operations staff. Since 2013 the company has grown more than 100%; it now has twice as many employees, the average on-hire rental rate has almost tripled and the company continues to grow daily. These statistics have led to an investigation to discover why more businesses are turning to vehicle rental.
1. Cost saving
When on-hire fleet is narrowly monitored, it is possible to significantly save costs, as vehicles can get off-hired when they are temporarily not of use to the company. The nearest rental branch can pick up the vehicle if a member of staff goes on holiday or isn’t planning any business travel in a certain period.
2. Temporary staff or location
Companies with temporary locations (e.g. construction or surveyors) are very popular in the vehicle rental market as they off-hire their vehicles once a job is completed, then hire new vehicles at another location where a new job starts again. Even when a job goes on for a year, it is still possible to rent a car as there are many long term deals available ranging from 4 to 18 months.
3. Probationary Periods
In this day and age, companies prefer to trial their potential staff before taking them on-board as permanent staff. During this period, the trainee will usually have to travel for work. To avoid time-consuming grey-fleet management, many businesses prefer to rent. If a new starter doesn’t complete their probation period, the rental vehicle can easily be off-hired.
4. Fleet management Software
Most vehicle rental suppliers offer an online booking system allowing you to keep track of all the current fleet activity, number of vehicles currently on-hire, driver details, hire periods, costs etc. These systems have saved fleet-decision makers a lot of time as bookings can simply be made within a few clicks.
5. Reduce fleet-management efforts
As a Broker, it is not only our duty to supply any vehicles to most locations in the UK, it is also our job to critically analyse and process every sheet of paperwork that comes through Fownd. All our staff must have experience within the rental industry prior to working here; this allows the company to work on behalf of its clients by questioning charges from rental suppliers. This saves fleet departments time, allowing them to accurately measure service levels and costs.