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MQI- Business Mgmt
| Question | Answer |
|---|---|
| What is the goal for Days Earned Growth? | 10% |
| What is the goal for Days Earned %? | 93% |
| What is the goal for Net Other? | $57 |
| What is the goal for Customer Satisfaction? | 90% |
| What is the goal for Bad Debt? | $3/car |
| What is the goal for Operating Profit? | $240 |
| What is the goal for Customer Service ESQI? | 85% |
| What is the formula for Commision? | # of cars X Net Profit X commision % |
| What is the goal for Employee Loss? | $2/car |
| What is the goal for conversions and on lot dmg? | $2/car |
| What is the goal for Undocumented Damage? | $4/car |
| What is the goal TOTAL uninsured losses? | $9/car |
| What is the formula for DE%? | total # of units / # of units on rent |
| What is the formula for Personnel Checks? | personnel exp X # of units |
| What is the formula for IPC? | Average daily rate X DE% X # days in the month + Net Other |
| What is the formula for Average Daily Rate? | Breakeven / # days in the month |
| What is the goal for IPC? | $1,282.00 |
| What does IPC stand for? | Income Per Car |
| What is another term for IPC? | Total revenue |
| What are some ways to increase Operating Profit? | Increase DE% Increase Average Daily Rate Increase DE Growth Increase Net Other |
| What is the formula for Depreciation? | (Cost of vehicle X 1/7% ) / # days in the month |
| How do you lower your deprecation costs? | Grow your fleet Manage you fleet - Small branches shouldn't keep luxury cars daily only when they need them, Big branches can sit luxury cars daily because they're fleet is larger it will help cover the cost if any damage occurs to the luxury cars |
| What is another term for Vehicle Adjustment? | Flip |
| What does TA/TO stand for? | total asset turnover ratio |
| What is TA/TO? | the comparison of sales for a company to its asset base |
| What is the formula for TA/TO? | Net sales / total assets |
| What is Total C&I ? | any revenue - Net Other |
| What is calculated in C&I? | ADR + any fees (Add driver fee, Underage fee, GARS fee, Drop fee) |
| What does T&M stand for? | Time and Mileage |
| What is the formula for C&I? | ADR X DE% X # Days in the month |
| How do you lower Employee Loss? | encourage safe driving |
| How do you lower conversions and on lot dmg? | Protect cars in bad weather and proper underwriting |
| How do we lower undocumented dmg? | Proper inspections and confront customer about dmg |
| What are reserves? | A 12 month rolling average of all gains and lossed for the month (90 day SUBRO bad debt and DW losses from the current month) |
| How do you calculate Total PD Loss Per Unit? | total losses / total fleet |
| How do you calculate Base PD Reserve Per Unit? | Total PD Loss Per Unit X 10% |
| How do you calculate Base PD Reserve Per Unit in DOLLARS? | Total PD Loss Per Unit X 10% X # of units |
| How do you calculate a Write - Off ? | (Prev month - current month) / 12 (months) |
| How do you calculate Total PD Reserve? | (write off # + Base PD reserve) / # of units |
| What is the MAX goal and IDEAL goal for Reserves? | MAX is $47/car and IDEAL is $11/car |
| How do you calculate Operating Profit? | Total Revenue - Breakeven |
| What is included in T&E? | branch lunches, happy hours, and donut days |
| How do you increase DE growth? | Run tight and add cars when available |
| How do you increase DE %? | Say YES to walk ups Actively work return list/callbacks Work red cars Call accounts- probe for needs Work deletes |
| How does staying on top of callbacks effect your branch? | helps fleet plan reduces bad debt |
| How do you increase Net Other? | Offer every product, every customer, every time Take 2 No's before moving on while selling Roleplay to build confidence Understand the products you're selling |
| How do you increase customer satisfaction? | Rental ready, ask the critical questions and stay in touch with renter through callbacks if there is any issues- don't just rely on the back end to fix issues |
| How do you lower bad debt? | proper underwriting callbacks avoid forced charges work A/R and collect proper deposits |
| What are the two largest monthly costs? | Depreciation and personnel |
| How do you avoid forced charges? | Proper deposits and callbacks |
| Who is on the Compliance and Ethics Commitee? | RVP - Slav Risk- Jenny Perrett HR- Vivian Controller - Brad |
| What are 2 types of uncollectable receivables? | Direct bill Forced charges |
| How do you keep information confidential? | Shred contracts Clean our cars Clean office Tickets locked up Remove phones from cars |
| What is Bad Debt? | Uncollectable receivables |
| What are 4 things you need to know about your commission check when you become a manager? | 1. Commision is on the LAST check of every month 2. If your store doesn't make money, YOU don't make money 3. I f your store is in the Neg., it comes out your commission (they'll never touch your base) 4. Pay plan is based off 12mnths of performance |
| What is the goal for I-CDW penetration? | 15% |
| What is the goal for ins rate? | $35 |
| What is the goal for Add Rev? | $4 |
Created by:
ERAC
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