Run Your Fleet in focus
- Grown from nothing to more than 1,000 clients since 2011
- Fleets from one to 1,600 vehicles
- Total managed fleet of 20,000 vehicles
- 95% customers have bought-outright fleet age just under 5 years
- Initial contract hire target 420 vehicles in next 12 months
RUN Your Fleet, a Warwickshire-based independent fleet management solutions provider, is to launch its own contract hire after successfully securing funding lines.
Hitherto, Run Your Fleet has offered contract hire as a broker through third party supplier agreements but although this worked well for the company’s requirements at the time, it did not offer the same potential as it own contract hire package.
MD Steve Whitmarsh said: “We estimate that 95% of our customers acquire their vehicles through outright purchase and, on average, have an ageing fleet of just under five years.
“This presents an opportunity for us to convert some of these customers to contract hire – particularly where they wish to release equity for other purposes.”
He added: “We are setting a relatively modest target of 420 vehicles on contract hire in the next 12 months.”
Since the company launched in 2011 it has seen its managed fleet grow from nothing to 20,000 vehicles across its 1,000+ business customers, with fleets ranging in size from one to 1,600 vehicles.
This impressive growth, and 98% customer retention rate, it attributes in part to “the company’s focus on the often neglected SME market.”
With a suite of products including breakdown cover, daily rental, telematics, risk management, service, maintenance and repair, Run Your Fleet has been able to exercise its considerable buying power to offer smaller fleets discounts only usually available to the larger fleets.
“Our concept was to come up with something that helps an SME regardless of how and where you get your vehicle from,” explains Whitmarsh. “It’s a pound a month for the basic fleet management and everything is consolidated into a single monthly payment.
“Now after having invested considerable time and money future-proofing our systems, ensuring scalability and flexibility, we are in a position to move into contract hire in our own right,” he added.