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Risk will always exist when you open a business. Although it cannot be avoided, you can minimise the risk level of your business. For example, in a car rental business, the risk of car damage or loss due to irresponsible renters is bound to exist, in whichever region of Indonesia you open your business. As an entrepreneur, you need to anticipate the risks your business will face, including in the following 4 ways.
1. Assessing Prospective Tenants
You have the right to assess prospective car renters before transactions. No need to be too investigative, because this will make potential customers feel uncomfortable. Start with a simple assessment by observing their attitudes and speech. You can also give some questions regarding the purpose of car rental. With this brief interview, you can find out whether they are true consumers or just unscrupulous. If you find a suspicious answer or attitude that leads to high risk, you may not approve the rental.
2. Tighten Requirements
Do not reduce or even nullify the requirements without a clear risk-calculation only to attract many costumers. You must be strict when it comes to basic requirements, such as Citizen ID Card or Family Card. Prospective customers who do not agree with the terms may be indicated as fraudsters. Therefore, do not hesitate to give requirements and do not be afraid of losing customers while doing this.
3. Well-Organised Rental Administration
Poor administration is often one of the causes of high risk in the rental business. For this reason, you need competent human resources to manage administration. Neat management allows your business to run more effectively and efficiently. You will also have greater peace of mind because rental cars, renters, and invoices can always be monitored. It would be even better if you have an integrated and comprehensive system to make it easier for you to track transactions and risks. A professional system will also be extremely helpful as your business continues to grow.
4. Installing a Tracking Device on a Rental Car
Provide a dedicated budget to protect your business assets. One way to do this is by installing a car tracking device to monitor the whereabouts of those assets. Not only GPS trackers, fleet management solution providers like Cartrack even provide additional features to remotely shut down the car's engine. This way, you can act quickly when you detect a breach of the rental agreement or even indications of car theft.
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