If you are looking to start a versatile business, a limousine rental business is just the one for you. It is an all year around business, covering events like corporate events, high school dances and especially cultural black tie affairs. But how does one start a limousine company?
The three basic requirements of any business firm is that it should be well planned out, registered properly and should be legally compliant. If you wish that your business should be successful, it has to be planned with clarity. The start up and ongoing costs have to be determined, the target market should be discovered, when can the business reach the Breakeven Point and above all choosing the right name for it.
Fixed and Recurring Costs
The journey of a Limousine Company starts with the acquisition of the cars that will be required by the business. A limousine ride is preferred by the customers for a luxurious drive; hence the cars should be new, shiny and fancy at all times.
The cost of buying a limousine could range between $50,000 to $100,000 dollars. Then the cars have to be insurance covered which will amount to $600 to $1200 per car. The marketing cost of the venture may add another $1000 to $5000 to the start up cost. An additional $100 per month will be required to park the car at a rental space unless the owner has his own.
Permits and Licenses
PUC license registration is a pre-requisite in starting a limousine business. If the owner does not acquire the necessary licenses and permits, he could be fined heavily or face some litigation that might result in the business being shut down altogether. Every state has a different permit for limousine services.
Ideally, the entrepreneur needs to complete the Application for Certificate of Authority first. This form entails the fact that the limousine has been properly inspected before use. Another state wide regulation limits the number of passengers to be seated in the limo at a time and also safety precautionary elements such as the presence of a fire extinguisher or stretcher.
The chauffeur also needs to be licensed and the limousine will need a commercial license plate. They can both be obtained from the Secretary of State’s office. To obtain the TCP permit, the owner can check with the county clerk’s office or take the help of one of the local associations in his city. A worker’s compensation insurance is also a legal requirement, when the company hires employees to serve it.
Define Your Brand
The company’s brand reflects what the company stands for or how the business is perceived in public. If the entrepreneur can build a strong brand, his business will stand out from the competition. After the acquisition of the TCP License, social media promotions become absolutely essential. A professional website helps the customers obtain all the information required before they make the limousine hire.
Business Rocket undertakes limousine hire for events and coordinates with their chauffeurs to provide best service to their clients at a reasonable price.
There are many business formation companies consisting of an experience team of professionals that help you start your business for a fee.
Business formation companies help lower the start-up costs for your business.Business set up services provide expert guidance on setting up new business across the world.
They help you to understand legal procedures, and set up a business model where they start with business type whether it is a sole proprietorship, partnership or LLC.Business set up services constitute services such as formation of the company and helping with its registration, taxation and accounting process, auditing, assurance as well as branding consultations.
These are systems through which your clients can get in touch with you and know more about what your business has to offer.How a Business Formation Company Help you to start a Transportation Business?If you want to start a transportation business, you will have to obtain Transportation business license in California from the California Public Utilities commission (PUC).
They help you to get Passenger Carrier License (TCP) License to start a Limo Company.Before starting the process of TCP Permit, you need to have a registered business in California.
For California TCP License, you will need a Requestors code from the DMW Pull Notice.
If you’re the one with aspirations to launch a limousine app, this blog will take you step-by-step, providing detailed insights on your actions.
With COVID-19 propelling the need for safety, we’ll shed some light on safety add-ons as well.
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