An unavoidable quality of many industries is the ongoing need to pivot, or change strategies to adapt to a new environment. Such businesses must continuously make significant investments in new tools that allow them to meet demands efficiently and effectively. The race to catch up is never-ending, since there’s always more you can do to […]
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The average person may be lucky enough to ride in a limousine once or twice a year. So, you can’t expect customers to know how expensive it is to run a limousine rental company. But before delving into details, it’s safe to say that at least one major challenge has already been revealed. Think about […]
Limousine companies are extremely expensive to run, primarily because of the notoriously high insurance premiums they have to pay and the ongoing need for advanced technology. But when examined from an alternate perspective, these two factors are revealed as opportunities for increasing revenue and gaining a massive competitive edge.
To an outsider, owning a limousine service or rental car company may seem like a relatively simple business. All you need is a fancy town car, a cab, or a fleet of rentals. A little advertising and you’re on the road, right? If they only knew! The truth is, your business is complex. But it has to run like a well-oiled machine. Just like turbo-boost, small business loans for limousine services can propel your business forward.
The limousine business is booming currently. According to Manta, there are over 32,000 limousine services just in the United States alone. This is mainly because of the need for affordable transportation options for millions of travelers, entertainers, and people celebrating important milestones. Many limousine operators started out with just a single limo, but as business picked up, they’ve had to expand their fleets to keep up with client demands. It’s not uncommon for a limo company to have dozens of vehicles, all requiring special maintenance, drivers, and secure parking facilities. Then there is all that gas that keeps things moving 24/7. It can get expensive to say the least.