Background Information
Enterprise Rent-A-Car is an American car rental company headquartered in St. Louis, Missouri. Founded in 1957 by Jack Taylor, it has grown to become the largest rental car company in the world, with over 7,200 locations. Enterprise Rent-A-Car is a wholly owned subsidiary of Enterprise Holdings, which is one of the largest car rental and travel companies in the world. Enterprise Holdings also owns Alamo Rent A Car and National Car Rental. With revenues in excess of $13 billion per year, Enterprise Rent-A-Car is a global leader in the car rental industry.
Partnership with Fortune 500 Companies
Over the years, Enterprise Rent-A-Car has partnered with Fortune 500 companies such as General Motors, FedEx, Bank of America, AT&T and ExxonMobil to provide their employees and partners with discounts and special offers on car rentals. These partnerships allow Enterprise Rent-A-Car to reach a larger customer base and to increase their presence in the car rental industry.
Entry into the Fortune 500 List
In 2006, Enterprise Holdings made its debut on the Fortune 500 list, coming in at #459. This was the first time that a car rental company had entered the prestigious list. Since then, the company has steadily climbed up the rankings and is now ranked at #323. This makes Enterprise Holdings one of the largest companies in the car rental industry, and one of the few rental car companies to make the Fortune 500 list.
Benefits of Being a Fortune 500 Company
Being a member of the Fortune 500 list is a prestigious accomplishment, and has many benefits. Membership allows Enterprise Holdings to access valuable resources and contacts in the business world, as well as open up more opportunities for growth and expansion. Additionally, the ranking provides a measure of prestige and recognition, and can be helpful when competing for business.
Data Analysis
Growth in the car rental industry has been stagnant over the past decade, with only a small increase of about 1.3% in 2016. However, Enterprise Holdings has seen growth of 5.3% over the same period, and is continuing to experience growth in the current year. This is all the more impressive when considering that the company is operating in a mature industry.
Expert Opinions
According to experts in the car rental industry, Enterprise Holdings has a clear edge over its competitors due to its ability to leverage its Fortune 500 ranking. This has enabled the company to build strong relationships with other Fortune 500 companies, increasing their customer base and expanding their reach. In addition, the vast resources available to Enterprise Holdings as a Fortune 500 member help them to stay ahead of the competition.
Advantages of Being a Publicly Traded Company
In addition to being a Fortune 500 member, Enterprise Holdings is also a publicly traded company. This provides the company with access to capital, which can be used for expansion, acquisitions, and other initiatives. Being a public company also provides increased transparency and trust in the company, as it is subject to more rigorous financial scrutiny and disclosure rules.
Company Growth and Expansion
Under the leadership of CEO Pamela Nicholson, Enterprise Holdings has seen tremendous growth and expansion. The company has added more than 2,000 locations in the U.S. and Canada over the past 10 years, and has become a major player in the car rental industry. Currently, Enterprise Holdings employs over 75,000 people in seven countries.
Positive Customer Reviews
In addition to its rank on the Fortune 500 list, Enterprise Holdings also receives positive reviews from its customers. According to the J.D. Power and Associates 2017 U.S. Rental Car Satisfaction Study, Enterprise Rent-A-Car earned the highest customer satisfaction ranking among its competitors. The study ranked Enterprise Rent-A-Car first in customer satisfaction, with a score of 864 on a 1,000 point scale.
Financial Performance
Enterprise Holdings boasts impressive financial performance as well. In 2015, the company reported $19.4 billion in revenue and $9.4 billion in net income. The company has also been consistently profitable for the past decade, despite fluctuations in the global economy.
Company Culture
Lastly, Enterprise Holdings is known for its commitment to its employees and customers. The company focuses on developing strong relationships with its customers and providing superior customer service. It also offers a variety of employee benefits such as paid time-off and training, and ensures a respectful and positive work environment.
Conclusion
It is clear that Enterprise Rent-A-Car is a Fortune 500 Company and one of the leaders in the car rental industry. The company has leveraged its membership in the Fortune 500 list to gain a competitive edge and to grow and expand its operations. With positive customer reviews and a commitment to its employees and customers, it is no wonder that Enterprise Rent-A-Car has become such a successful company.
