Gregory Chama had been running City Drive Rent A Car since October 2009 and was happy to be adopted by Madison Insurance to supply courtesy cars to its policy holders. But to meet the needs of the company, they needed more cars.
Cars are expensive and Gregory was struggling to find the levels of finance he needed. So a friend suggested that the Private Enterprise Programme (PEPZ) might be able to help him find a financial advisory consultant to locate the right doors to knock on.
After a full evaluation of the City Drive operation, the first thing that PEPZ did was to work with Gregory to find a consultant who subsequently helped him draft a full business plan and raise nearly $100,000 for investment in the fleet. This was helpful but not enough.
Then PEPZ facilitated the development an innovative web-based portal which gives City Drive a way to rent out even more vehicles without having to own them.
Vehicle owners lease their cars via City Drive’s portal, giving customers the ability to select from a large and diverse range of makes and models. It gives City Drive an extensive fleet which allows Gregory to accommodate the needs of its anchor company, Madison Insurance, as well as even more private customers. As a result, sales nearly doubled in less than 6 months.
With a sustainable way of expanding his car fleet in place, Gregory’s company has recently completed Phase 1 of its expansion plans by opening an office in Kitwe with a vision of rolling out his operation to other major towns like Livingstone, Solwezi, and Chipata in the future.
Key success points
- Successfully raised nearly $100,000 for investment in car fleet
- Expanded range of cars through innovative web-based solution
- Sales nearly doubled in less than 6 months
- Expansion started – opened new office in the Copperbelt