Business Plan for Easy Go: Car Rental Service for Australian University Students

Running head: BUSINESS PLAN
Business Plan
Name of the Student
Name of the University
Author Note

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Executive Summary
The car rental industry is one that is booming in the country of Australia largely because of
tourist inflows and the need and desire for comfortable travel among the average Australian.
However, there are few car rental companies in the country that cater to the needs and
requirements of Australian university students, especially overseas students, who need to rent
cars that they can use to get to their job locations on time and do the part time work they have to
do, in order to earn money to pay college tuition fees. Easy Go is a new up and coming car rental
business that will cater specifically to such students by making cars for rent available to these
students at affordable rates and giving them the scope of being full owners of the cars after two
years of lease have passed. This report prepares a business plan that can be used by Easy Go for
setting up its enterprise and concludes with important recommendations that the enterprise can
take into consideration, to ensure that its business operations are successful in both initial and
later stages.

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Table of Contents
Introduction......................................................................................................................................4
1. General Company Description.................................................................................................5
1.1. Brief about the Venture – Easy Go...................................................................................5
1.2. Mission of the Company...................................................................................................6
1.3. Vision of the Company.....................................................................................................6
1.4. Objectives of the Company...............................................................................................7
2. Problem Statement Identified...................................................................................................7
3. Industry Profile.........................................................................................................................8
4. Situational Analysis................................................................................................................11
4.1. Macro Environment Analysis.........................................................................................11
4.1.1. Porter’s 5 Forces Analysis...........................................................................................11
4.2. Micro Environment Analysis..........................................................................................12
4.2.1. SWOT Analysis of Easy Go........................................................................................12
5. Marketing Strategies...............................................................................................................13
6. Tentative Capitalization and Start-up Expenses.....................................................................15
7. Recommendations..................................................................................................................17
Conclusion.....................................................................................................................................18
References......................................................................................................................................19

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Introduction
Overseas students in Australian universities as well as local or domestic students in
Australia are faced with the difficult task of financing their higher studies. Higher education in
the country is becoming increasingly expensive with every passing day, and students often have
to opt for an educational loan or seek financing from their parents and relatives in order to be
able to go to college and get a university degree. The fact that students have bare financial means
to lead a quality life while pursuing a higher education degree implies that they often have to
make use of public means of transportation to get from one place to another, to perform odd jobs
or work part time jobs, or to very simply meet up their friends and associates after class hours for
a cup of coffee or a night out in town (Hsu et al. 2019). Against this particular backdrop,
offering students who are enrolled at Australian universities with the option of renting a car that
they can use to move from one destination to another is something that can prove to be very
advantageous for them. Students will be far more mobile if they have a rental car at their
disposal, especially if they are able to rent the vehicle over a long period of time and that too at
highly affordable rates. This report prepares a business plan for a start-up enterprise that is
known as Easy Go. The report provides background information regarding the business that
includes the mission, vision and objectives of the company, the problem statement or the reasons
why the business was formed in the first place, industry profile, situational analysis with
reference to Porter’s 5 Forces analysis and SWOT analysis, and marketing strategies with
reference to the 8 P’s. The report will also provide an approximate budget that this start up
enterprise shall be operating on in the initial stages of the business. The report concludes with a
number of important recommendations that the Easy Go enterprise must take into consideration

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in order to be able to market and promote its rental car service in Australian cities and towns in
the most successful of ways.
1. General Company Description
1.1. Brief about the Venture – Easy Go
Easy-Go is an enterprise that is going to provide customers with the option of renting a
vehicle, that is, a car, at an affordable price with the lease lasting for a period of two years.
Customers will be in a position to own the second hand car if they continue with the lease for the
entire length of two years. This is hugely advantageous for the customer as the customer will not
only be able to hire the car for a nominal price whenever they do hire it, but they will also be in a
position to become owners of the second hand vehicle if they pay a rental fee for the car for a
period of two years. The situation is certainly a win-win situation from the customer’s point of
view, especially for young Australian university students who are in need of vehicles in order to
be able to move around from one destination to another to do odd jobs and finance their studies.
Such students will be able to go ahead and use a car to get to university on time, attend classes,
go to the various places where they are performing part time jobs and return home once again
after they are done, in a smooth and hassle free manner. What the enterprise is specifically
aimed at therefore is helping out Australian university students, especially students who
are in need of financial help and assistance in order to be able to continue with their studies
in the country. As such, the target audience of the business is mostly the overseas Australian
students who need to work part time in addition to being full time university studies in order to
able to finance their higher education degrees. Such students, are for the most part in need of
vehicles which they can use in order to get from place to place to do their part time jobs and