Bus 475 - Franks Enterprise Inc. Case Study

Victor Rodriguez

7/26/2015

BUS 475

Business Model Part I

Franks Enterprise Inc.

Prof. Bergman

Introduction

Frank enterprises inc. Works with their clients to keep the wheels going, keeps the businesses running. Franks is a consolidating company for Wheels. They have been around for more than 75 years and gone through three generations of family and still to this day remain committed to the success of their clients. Wheels introduced the first auto leasing and provide fleet management services. They are the world’s most experienced in fleet leading, management and a trusted leader. They provide any companies around the world with company cars and trucks with up to date services and support. These services include management, financing assistance, etc in which this helps out their clients maintain their fleets. In the United States they are known as Wheels, in other countries they are known as Fleet Synergy International, in which there is an alliance through the leasing firms and fleet management. There are more than 315,000 vehicles that Wheels deals with in the United States. Each year they purchase and remake about 120,000 vehicles. 

Wheels was first established in 1939 by Zollie Frank. It is family owned and ran by one of the family members. They built this business thinking of the long term. The team has delivered business results to all their clients. The products, services or any methods they have may have changed but the values that they have stored in since day one, is still the same. The main offices are located in Des Plaines, Illinois. They have less than 100 employees. They are the world’s largest privately owned fleet management company. They made more than $1.6 billion yearly and have more than $3 billion in total assets. They are one of the largest private companies in any industry in the United States. 

With them focusing on one business they can focus on it only. All they do is management and fleet leasing. They are committed to making sure that you have 100% of any or all of the resources you need to make sure you have your fleets running. You can find them anywhere around the corner and around the world too. In the United States, there are more than 300,000 vehicles that they manage and have more than 15 million around the world. So you may have seen these vehicles and you just may not know. They service some of the biggest companies. They have as their clients over 500 business and other businesses that use the fleets service and sales as a strategic business tool. 

Innovation 

The key cornerstone of Wheels is innovation. They are always investing in new technology, especially with everything especially in technology always changing. So they have to be up to date with everything. They are striving to build better fleets. In order for them to build better fleets they need to determine what challenges they may face ahead of them. Next, they need strategies so they can model and test them. Last, they bring them into the market, where they can better fleet and have the businesses succeeded after. Some of the latest and greatest features are Wheels toll management, Wheels mobile apps, Wheels selection modeler and Wheels changedriver. In the Wheels Toll management they are trying to prevent and management. With this feature they are trying preventing violations, tracking the expenses and provide administrative ease. With this feature it protects you from the high violation costs. This give you the information of where the toll plazas are and their schedules; doing this can give you manage the costs better. They can also help you manage the citations too.

In the Mobile Apps keeps the drivers connected and being more productive. In the app you can view any orders you may have, view any business mileage you did, search for any maintenance locations and look for any fueling locations with the comparing of the prices with them. In the Wheels Selection modeler, you can search for fleets easier. You can complete the entire selection process, instead of half of it. You can do all the vehicles shopping in minutes instead of days. This feature helps you select the vehicle that is going to give them the most productive, be driver friendly and will save you money everyday. In the ChangeDriver feature can help motivate your drivers to change, in which you can se the changes. Trying to change the behavior of your driver can be difficult, as well as the savings you can have every year. This feature can motivate their drivers especially with the rewards that come along with changes and save driver. With this feature they can lower the accident rates, better fuel efficiency, maintenance network increased, and fraud being decreased.

Business Model

Mission

“The goal of Wheels is to ensure that the highest fleet performance at the lowest possible cost year after year,” (Wheels, 2015). Managing the cost can be difficult and challenging. With any decisions that you make can have an impact on the success you may have now and in the future. Wheels will save you money on the costs of fleet, now and in the future too. If you are trying to save money, it shouldn’t cost you any money at all. Saving money do not mean you get less for what you are trying to buy. With Wheels, they will make sure that you get the fleet that meets your needs and the vision of your business too.  With your wheels account manager is assigned to you and will help find any opportunities to save money. Some areas they would look maybe the purchase price, maintenance, fuel cost, interest rate and many more. They will look for savings that balances with your business needs. Wheels go above and beyond for their clients. They are always in attendance for the auctions of the final sales. Wheels make sure that all the maintenance is covered under the warranty, paid by the manufacture.