In addition to consumer markets, Budget began to develop policies and programs designed for smaller businesses and medium-sized corporate accounts, and the car renter moved into limited national accounts. The company grew by more than 20 percent every year in the leisure market during its first two decades. By 1960, Mirkin had established the Budget Rent a Car Corporation and laid the foundation for a system of corporate and licensee-owned operations.īudget maintained a tight market focus on value-oriented leisure travelers throughout the 1960s and 1970s. The company consisted of Mirkin and his wife together they managed a fleet of ten cars, originally available at the rate of four dollars a day and four cents a mile. The company operates a fleet of approximately 232,500 cars and trucks from more than 3,200 locations including 825 airports in over 100 one hundred countries.īudget was founded in Los Angeles in 1958 when Morris Mirkin opened a small rental car company for personal renters seeking an inexpensive automobile. Though the company was founded as a service to “budget-minded ” leisure travelers, Budget has recently increased its selection of available automobiles and has made considerable inroads into the business market. The company has grown steadily throughout its 35-year history and has solidified its position within the increasingly important service sector. In the early 1990s the Budget Rent a Car Corporation ranked as the world ’s third largest car and truck rental system, with company-owned and franchise operations in more than 110 countries and in all 50 of the United States. Private Company Incorporated: 1960 Employees: 10,400 Revenues: $2.2 billion Stock Exchanges: New York SICs: 7514 Passenger Car Rental
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