Demand for vehicles is consistently high in the UK – public transport has never managed to make much of a dent in the desire for individuals to own their own car.
However, recent financial, social and political changes have made consumers – and many businesses – far more cautious about paying out large sums for new vehicles, and this year has seen a dip in the registration of new cars. For many, the prefect solution is to lease a car, which means regular, manageable payments and the potential to update it regularly. It also avoids the substantial depreciation of new vehicles.
This is a particularly popular option for the UK’s growing army of small and medium sized enterprises, who need cost effective cars and vans to carry out sales and delivery activities. This means that for budding entrepreneurs considering car leasing franchises, there is a highly fertile market place.
Each year, around 70% of the 2.2 million new car registrations in the UK are for the fleet market. The whole car renting and leasing sector enjoyed steady growth in 2016. Industry trade body BVRLA reported that the car leasing fleet of members rose by 10% over the year.
There are some major names in this franchise sector who are always looking for business minded partners, including Move Vehicle Leasing and Motor Republic Cars. One of the first online vehicle leasing firms in the UK - which seeks out new franchises - was Plan. Another long established front runner in this particular franchise sector is Neva Consultants.
This can be a complex line of business, and involves meeting the demands of financing companies and car manufacturers. Having the backing and support of a parent company with well established partnerships saves a huge amount of hard work and headaches.
When a franchiser provides the equipment and IT needed, and helps to find a strong operating territory, this too can make your new car leasing business a success.
Get in touch today to drive your car leasing franchise forwards.
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