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Stage 1 Flashcards

1
Q

Ethics Committee

A

1) Brian Swallow
2) Imran Mateen
3) John Rice
4) James Goodall
5) Carly Wilkes
6) Stewart Carhill
7) Steve Wren

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2
Q

GDPR breach cost

A

4% of global turnover of business

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3
Q

VSA log
How many points?
What may cause a fail?

A

25 points
Fail on 7 safety points
Fail due to complete clean pledge

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4
Q

Vehicle repair
Where is damage reported?
How many photos minimum?

How many times can a vehicle be rented after being damaged?

Return comment when car is damaged?

A

LDR or launch pad
(RVR code shows what’s been repaired)

3 photos- one showing surroundings, one using etool, one of number plate. Must show damage as clearly as possible

Can be rented once after damage

BD hold

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5
Q

Group goal for retention

A

75%

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6
Q

HR Manager

A

Carly Wilkes

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7
Q

Customer Service Goal?

What is ESQI??

A

90% completely satisfied

Enterprise Service Quality Index
SFL- ask customers 3 critical questions & fill out survey

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8
Q

Define the 3 Cs

A

Expectation for corporate accounts

Confirmation- delivery: when the car has been booked in for. Collection- will they be available for key/ if not where will key be. Preferences- which car has been booked/ is this suitable

Clarity- call before leaving, if home- take LP, complete contract and do boot to boot. If not- write contract with mobile printer and post keys with T&Cs in envelope (text to inform the car has been delivered)

Closure- collection: call before leaving. If home- close contract on LP and thank customer. If not home- use TXT portal to inform customer

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9
Q

3 critical questions?

Why do we use them??

A

1) How was your experience with enterprise?
2) is there anything we could have done to improve?
3) would you use Enterprise again?

Measure customer satisfaction, aim to ensure all customers are completely satisfied.

Helps identify areas for improvement.

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10
Q

Growth goal??

BHAG??

A

Goal = 15%

BHAG = 25%

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11
Q

What is the I-conversion rate??

Goal??

A

How quickly yellow cars are converted into actual rentals “roaded”

Goal = 85%
Not 100% as this would be unrealistic, impacted by uncontrollable factors

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12
Q

BOSS notes

What are they?

Goal??

A

Used to track marketing, document conversations had, supports handing over of information to other employees

1 BOSS note per account per month

Now BOSS365

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13
Q

Road to recovery

What are we trying to achieve??

A

Corporate accounts- trying to achieve the same number of referrals or more than PY

Before 20/40
20% increase in renting accounts
40% increase in referrals

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14
Q

How many booking tools does Enterprise have??

What are they

A

3 - 4

ARMS,
EHI direct tool: flights and accommodation
Enterprise Travel Direct: sustainable travel, which travel method to use (e.g car club, daily rental or mileage reminbursment)
flex direct: daily and flex-e-rent requirements (e.g specialist and international hire)

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15
Q

Car club

Benefits

Virtual vs Dedicated

A

Rent by the hour, 24hr access, continent pick up locations, self service/less contact, includes maintenance, reduced environmental impact and support available

Membership includes: fuel, servicing, breakdown cover, insurance and cleaning

Sign up via car club website —> make personal customer account

Virtual: parked at location, every member has access

Dedicated: certain business opt to have cars dedicated to them, ensures availability, can track mileage

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16
Q

Operating profit goal

A

£100 per car

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17
Q

4 step sales process

A

Introduction
Fact find
Presentation
Close

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18
Q

How to calculate IPC
(income per car)

What goes into C+I
Goal

What goes into net other
Goal

A

IPC = C&I+ Net Other

Customer and Internal: rate the car is rented for —> upgrades, additional auths, delivery/collection, out of hours, one way fee.
£925

Sales (EP, RAP and DW)
£75

Total goal = £1000 per car

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19
Q

How to calculate operating profit

A

Total Revenue - Break Even

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20
Q

How do callbacks affect operating profits??

A

Increased operating profit, better utilisation of fleet

Ensures payments are received for the full duration of the rental

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21
Q

AR

When do we start chasing debt??

When does it hit the statement??

A

Account Receivables

31-60 days

Hits account after 90 days

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22
Q

What is uninsured loss

What 4 areas go into making it up

A

Anything not on the rental contract

Employee loss liability, employee psychical loss, conversion and other, and undocumented damage

23
Q

Tyre tread

Enterprise limit

Legal limit

A

3mm

1.6mm

24
Q

VSA log

How many points?

How can a car fail??

A

25 points

Can fail on 7 safety points (e.g. tyre pressure and functioning seat belts)

Can fail if complete clean pledge is not adhered to

25
Q

How many miles over service interval can you rent??

How to check??

A

500 miles

Unit services -> history -> next PM -> look at miles/km

LORF
Full service

26
Q

Expectation of fleet damage??

A

2%

27
Q

AX and XX

How to reduce??

A

AX- on rent (customer accident)

XX-not on rent (employee accident)

Reduce: encourage buddy system, don’t answer phone calls whilst driving, use less valuable vehicles as chase

28
Q

Types of XX

Where on the statement??

Goal??

A

Employe loss psychical damage: damage to vehicles

Employee loss liability: not car related, personal injuries/ personal damage

Found on the uninsured loss section of the statement

£3

Paid in 1 month period

29
Q

AX

What makes up AX

Where is it in statement

How is it paid for? How is it calculated?? (Formula)

Goal

A

Reserves/Coll comps- damage on rental contract

Claims on DW, uncollected excess and uncollected COI

Branch pays for damage- spread over 12 month period

Cost / fleet / 12 months

3.5% of total revenue (reserves / total revenue x 100)

30
Q

Damage to ERAC unit

Damage to 3rd party

How are they paid??

A

ERAC unit:
Branch (1st £1600)
Area (£6400)
Group (remainder- uncapped)

3rd party 
Branch (1st £1600) 
Area (£6400) 
Group (up to £16000) 
16K —> 5m off statement- company
5K + = insurance policy
31
Q

Missed damage

Where on statement?

Missed damage goal??

A

Undocumented damage

Goal: £4 (or under)

32
Q

Leads

Qualification criteria

A 
Must be a limited company 
Registered address 
Business landline 
Business email address 
VAT registered
Minimum of 2 rentals or 500£ spend a month
33
Q

Types of corporate account

A

Under 1k = generic pop R type (retail site)

Between 1K and 6K = bespoke pop R type (retail site)
Get company account and set up in roughly 48 hours

Underwritten as retail (no D&C, no OOH, no billing)

————————————————————————

BRSE SBP C type = business rental sales executive

34
Q

What can we sell to dealerships?

Benefits

Objectives

A

Warranty:
commonly longer rental contracts, can claim back from manufacturers (reminbutsed), fill rate requirement -> service level agreement (80%), like for like vehicle/ same brand

Customer pay:
Courtesy car contributions in U2 range from £7.50-£20, customer expected to pay something, virtual fleet for dealership, solution through simple rates, reduce long lead times and reduce leakage to competitors

Benefits: book customers in faster, utilise fleet and longer contracts

Objectives: retain customers, maximise part sales and labour hours

35
Q

What can we sell to body shops?

Benefits to body shop

A

Business lines:
Into car hire ( won’t need fleet cars ), non-fault: second touch (flip into credit hire)

Body shop and insurer split
E.g. LV = £100/£200, Aviva = £150/£150

Benefit to body shop: no need to run own fleet- reduce poor utilisation, use enterprise only when required

36
Q

Credit repair

A
  • take on hire, claim back from third party
  • help the shop capture the job rather than call insurance
  • enterprise pay body shop to do the repair (claim it back)
37
Q

Insurance management

Goal

A

85%

38
Q

What is insurance management?

What are aims to reach our goal?

A

Customer contact, number of red/yellow cars converted into green cars ( in hire )

Contact within 20 minutes, can only supply if not road worthy, must find out body shop and update ERAC, must call shop and get booking in date ASAP, only green car once booked in

Communication with body shop is key, allows more cars the be rented helping the growth goal

39
Q

% of days earned

What is double days earned mean?

A

Percentage of fleet rented in a 24hr period

Average percentage of cars on the road in a day

When vehicles return and re-rented in a day

40
Q

% of days earned growth

A

Total number of days last year/this year

Compare to find growth

41
Q

Gross costs

Pers Expense

BROCH

GRPOVH

CORPOVH

A

Direct costs- related to putting cars on the road (fuel, tax, maintenance, insurance, depreciation and loans for purchase)

Employee costs, assured, pensions, health insurance, commissions, bonuses, people delivering new cars/picking up deletes

Branch overhead: costs of operating branch, costs of building, business rates (tax), utility bills, maintenance, computers, cleaning products, PPE.

Group overhead: head office (developing and running facility), employee wages for admin departments

Corporate overhead: corporate office, European quarters- London, small portion goes to the state

42
Q

Break even

A

Where total costs = total revenues

Above break even- make a profit
Below break even- make a loss

43
Q

Net profit formula

A

Operating profit + vehicle adjustments

Branches are not targeted on vehicle adjustment because it cannot be controlled

44
Q

Fuel Goal

A

£0 per car

Spend- fuel tracker, fleet management and one ways

Collections- daily targets, feedback + conversations , charging customers (front vs back end)

45
Q

Average daily rate formula

A

Average daily rate = IPC/ DIM / DE

Income per car, ???, days earned

46
Q

How much is a fleet car worth on average??

Branch fleet worth

Operating capacity

A

£12,500

Branch fleet worth = number of cars on fleet x £12,500

If operating at 90%, find how many cars make up the 10% x 12,500

—> e.g. 900 cars unused = £11,250,000 = 11 million
—> increase utilisation by 1% = £1 million

47
Q

NCS

Process to a accepting new vehicle

A

1) print off emailed list
2) use the print off to check in NCS, check all the details match (colour, gear box size, number plate)
3) full boot to boot (areas, parcel shelf, lock and wheel nut)
4) any differences to damage, do not sign- call VA ASAP
5) of all okay, install via USG (enterprise don’t pay until installed, if we don’t sign for damage- we pay for it, if you install a unit that you shouldn’t you ‘sit on it’

48
Q

Managing the fleet effectively

A

Updating cars in USG
Call backs- talk to customers, ESQI improvements, when maintenance will be completed and try to do in advance (allows better allocation)
Sharing cars
Reservation management (direct customers towards available cars, what times/cars available) (have customers in advance)

49
Q

Goal for upgrades

Goal for downgrades

A

Upgrades <10%
Free upgrades cost the company, try to get customer to pay for it

Downgrades <5%

Both should be under a 7 day period

50
Q

USG

Lot reports

A

Tag units correctly/ update regularly
Use non rev
Vehicles not available to rate
Want visibility

Lot reports: legs to car USG, upgrades, downgrades, tracking and working

51
Q

Fleet dynamics

Revenue optimisation ratio

A

Right car right deal, right group of vehicle

Revenue optimisation -> £1 for Revenue = £4 C+I
1:4

52
Q

Driving revenue optimisation

Booking on the day- how much more?

A

I-conversion rate
3rd party claims preferred- better rates
Marketing: drive locally, improves profits, higher margins
Hit all fill rates RCRD
Merchandised car park (organised car park helps to sell upgrades)
Paid upgrades (need cars available)
Reservation management ( pricing up vehicles,availability and pricing of the fleet, try to take on all bookings

20% higher rates

53
Q

Depreciation average

A

1.7%

54
Q

Company values/ ethos

A

1) our brands the most valuable thing we own
2) we work hard…and we reward hard work
3) customer service is our way of life
4) great things happen when we listen…to our customers and to each other
5) personal honesty and integrity are the foundation of our success
6) we strengthen our communities, one neighbourhood at a time
7) our company is a fun and friendly place to work, where teamwork rules
8) our doors are open

Stage 1 (1 decks)

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