How did you decide on your main customer segment, tourists, business travellers, or residents, and what research supports that choice?
We chose our main customers by researching local demand and tourism data in BC. Tourists and residents showed the highest need for flexible, affordable car rentals, backed by travel trends and renter surveys.
What will make Speedway Rental stand out from competitors like Enterprise or Turo in value, service, or convenience?
Speedway Rental focuses on personalised customer service, affordable pricing for older cars, and super easy booking with flexible pick-up options, making us more accessible and friendly for local drivers and tourists alike.
Have you considered offering eco-friendly or electric vehicles to attract environmentally conscious customers?
Right now, we focus on affordable, reliable vehicles but plan to include eco-friendly cars in the future to strengthen our green image and appeal to environmentally aware customers.
What factors influence your pricing model, and how will you ensure profitability?
Our pricing takes into account fuel costs, competitor rates, and local income levels. We monitor these closely to keep prices competitive while covering costs and maintaining healthy profits.
What marketing channels will you focus on first, and how will you measure their effectiveness?
We’ll start with Instagram, Google Ads, and partnerships with local hotels. We’ll track bookings and website visits from each channel to see what works best.
How do you plan to scale operations while maintaining customer experience?
We plan to add more cars gradually and explore new rental locations, ensuring every new spot follows our quality and service standards so customers get the same great experience everywhere.
Have you considered partnerships with hotels, airports, or travel agencies?
Yes, teaming up with local hotels and travel agencies helps us reach more tourists and business travellers, making it easy for them to book with us.
How will you ensure customer satisfaction and handle complaints, especially during busy times?
We have a dedicated support team ready to respond quickly. We also collect feedback regularly and improve our services based on what customers say.
How will you manage high upfront vehicle and maintenance costs while keeping prices competitive?
By buying reliable used cars and scheduling regular maintenance, we keep long-term costs low. This approach helps us offer affordable rentals without sacrificing quality.
How will you use technology to improve convenience and customer experience?
Our online booking system and planned mobile app will make reservations fast and easy, letting customers pick cars, choose times, and pay online from anywhere.
How does the company balance offering economy, luxury, and family models?
We provide a small but diverse fleet, including budget-friendly economy cars and larger family vehicles, ensuring options for different needs without overcomplicating the selection.
What measures keep the vehicle fleet quality and reliability high?
All cars go through thorough inspections before rental and have scheduled maintenance to avoid breakdowns and ensure safety.
How is dynamic pricing managed during high-demand seasons or special events?
We adjust prices based on demand spikes during busy seasons or events to balance availability and profitability fairly.
What membership discounts or loyalty programs are offered?
We plan to introduce loyalty programs soon, offering discounts and special deals to repeat customers as a thank you for their continued support.
How do airport counters and downtown pick-up points improve convenience?
Having pick-up spots at both the airport and downtown means customers can choose the location that fits their travel plans best, saving time and hassle.
What technologies are used in the mobile app for easier reservations?
The app will feature quick car selection, integrated payment, real-time availability, and easy management of bookings to speed up the rental process.
Which social media platforms work best for promoting your services?
Instagram and Facebook help us reach tourists and locals with eye-catching posts, while Google Ads attract customers searching for rentals online.
How do partnerships with travel agencies attract tourists and business travellers?
Travel agencies connect us directly with people planning trips, making our cars a convenient choice by including rentals in travel packages.
Which customer group provides the highest revenue potential?
Tourists and business travellers usually bring the most revenue due to longer rental periods and higher spending.
What marketing strategies attract students and local commuters looking for budget rentals?
We focus on social media deals, student discounts, and affordable pricing to attract budget-conscious renters like students and daily commuters.
How can customers book a vehicle?
Customers can book a car online through our website, over the phone, or in person at our office. Online booking is the fastest and easiest way since you can browse available cars, select dates, and confirm instantly.
What is the process for checking and preparing cars before each rental?
Before every rental, each vehicle goes through a full inspection. We check the fuel level, tyre pressure, brakes, lights, and cleanliness. Cars are washed, sanitised, and refuelled so customers always get a clean, safe, and ready-to-drive vehicle.
How does Speedway Rentals handle multiple bookings at the same time?
We use a booking management system that updates availability in real time. If multiple customers request cars at the same time, priority goes to the first confirmed booking. We always try to offer an alternative vehicle option if the preferred one is unavailable.
Do you plan to expand in the future?
Yes, expansion is part of our growth plan. We aim to increase our fleet size and add new vehicle types such as SUVs and electric cars. In the long term, we also plan to open more rental locations across the city and nearby areas.
How are customer complaints or damages handled?
Any issues or complaints are handled through our customer service team. For vehicle damage, we inspect the car, assess the cost, and review the insurance coverage. We focus on fair communication and quick resolution to make sure every customer is satisfied.
How many cars will you add in the next growth phase?
In the next phase, our goal is to add around 5–10 more vehicles based on demand and customer feedback.
How do you handle accident costs or insurance claims?
All cars are covered by rental insurance. If an accident happens, customers must report it immediately. Insurance covers most situations, but depending on the damage, a deductible or partial charge may apply.
Do you keep a reserve fund for repairs?
Yes, a portion of monthly revenue is set aside in a repair and maintenance fund. This ensures we can fix or replace parts quickly without affecting daily operations.
What is your breakeven point?
Our breakeven point is projected to be reached once the business consistently rents out at least 70% of the fleet per month. This covers all fixed and variable costs.
How does Speedway Rentals compete with local companies?
We focus on affordable pricing, flexible rental terms, and excellent customer service. Loyalty discounts and referral rewards also help us stand out from bigger competitors.
Will you hire more staff as the business grows?
Yes, as the company expands, we plan to hire more employees for customer service, vehicle maintenance, and administrative support.
What’s your strategy for off-season months?
During slower months, we offer special promotions and discounts for long-term rentals. We also partner with delivery and gig drivers who need short-term vehicles to keep the fleet active.
What is the deposit amount?
A refundable security deposit is required at the time of booking. The amount depends on the vehicle type, but usually falls between $250 and $500.
What insurance is included in the rental?
Basic coverage for collision and liability is included. Customers can also choose additional protection plans for extra security.
What happens if the car breaks down?
If a car breaks down, we provide 24/7 roadside assistance. Depending on availability, a replacement car will be offered as soon as possible.
Is there a mileage limit?
Yes, every rental includes a set daily or weekly mileage limit, which is clearly stated in the rental agreement. Extra kilometres are charged at a low per-km rate.
Are there cleaning or late fees?
We expect cars to be returned in reasonable condition. A small cleaning fee applies if the car is returned excessively dirty, and late returns may result in extra hourly charges.
Do you offer discounts?
Yes, we offer discounts for long-term rentals, students, and loyal customers. Special promotions also run during holidays or off-peak seasons.