Founder & CEO of Signature Car Hire shares his thoughts on how he makes investment decisions when purchasing his fleet.
“As you’re probably aware, I love cars. Despite the fact that I’ve been in this business for so long, I still get very excited about new models coming on to the market. I always want to buy all of the latest models and take them home to drive before anyone else can!
The benefit of a decades’ experience, however, is that I have a firm sense of when to say no. Not only have I learned to trust my own taste and judgement – not to mention look past the shiny marketing – but I have also built up a set of guiding principles that enable me to make smart decisions. I’ve summarised them below and hope they will give you a good starting point for purchase-based decision making, whatever industry you’re in.
My most important consideration when I invest in a new car is what my clients want. They rely on Signature to provide gorgeous cars that exceed their expectations and create lasting memories, placing themselves entirely in our hands when it comes to the fine details.
Thanks to the feedback I’ve collected over the years I’m finely tuned to what my loyal clients enjoy – not to mention what might provide a very pleasant surprise.
Another key principle is to remember the old adage ‘if it ain’t broke, don’t fix it’. If clients love a particular model, such as the Range Rover, I’ll ensure that we always prioritise buying upgrades of this car before branching out into something new.
Yet there is a flip side to this, which must be heeded if you wish to avoid disappointing customers – you must always ensure that you upgrade in quality, rather than merely age.
If a new version comes out that’s poorer than the original, for example, I’ll always stick to the version I have and explain my choice to any clients who ask.
In addition, I continually monitor trends in the marketplace, to anticipate what will be popular in the next few years’ time and make investment purchases accordingly. I was one of the first, for example, to add luxury SUVs to a fleet of premier hire cars, which has paid dividends now this trend has been cemented in the marketplace.
As well as future trends, however, it’s always worth keeping an ear to the ground and gauging what people are most excited by at the current moment in time.
Customer loyalty is earned by fulfilling fantasies and making dreams come through – something you can only do if you know what they are.
A very important rule when it comes to investing in cars is to never be tempted to cut corners.
I always invest in the highest-specification models to reflect the Signature quality guarantee, and to ensure that clients experience each model as it was intended to be experienced.
My final tip is to not be afraid to make bold decisions and invest in unique models. I pride myself on picking rare models that are less commonly-known, yet which provide a chance for clients to experience something extraordinary.
A limited edition car will provide a twist on a familiar marque that delights the driver, providing them with insider knowledge and something to tell all their friends about!
I’ve just spent a very enjoyable few days at the Geneva Motor Show, where I sought out some truly exceptional, limited edition cars that few, except Signature clients, will ever be able to drive.
The fact that I get a thrill of pleasure every time I walk past them in the Experience Centre will just be a perk of a job well done!”