The limousine business has seen a vast growth over the last couple of years. Studies have shown that the business has grown by an average annual rate of 2.7%. This means that the competition for this business is growing very fast. Many people don’t prefer to pay long-term parking fees at the airport when traveling by air. Instead, they prefer to hire a Toronto airport limo for their trip.
Therefore, opening an airport limo can be a lucrative yet daunting experience for those business houses that are looking forward to making a mark in the limousine industry. Apart from having good business acumen one needs to have with them a team of trained chauffeur who will know how to deal with the different kind of passengers, and so on.
Business Plan: Write down a business plan that would contain in detail the amount of investment, the expenses, expected income, targeted customers, etc. Along with a proper marketing plan, a thorough research on your part is needed. Always decide a name for your business that will be the registered company’s name.
Lease Vehicle: When starting a limo business, it is not necessary to immediately purchase a limousine. For a small business house, renting a limousine can be a viable option. When the business starts to flourish you can consider going for a high-quality vehicle. But when you are renting a vehicle get it checked to ensure it meets the safety standards.
Apply For Permits: Depending on the area where you are going to operate your limo service will require a vehicle license, business permit, tax identification number, and also liability insurance. Drivers may need necessary licenses for driving passengers based on the country they are operating in.
Insurance: It is important to get the limo vehicle as well as the drivers insured. Contact an insurance company and ask them about the insurance liability and other physical damage coverage that you may need.
Pricing: The most important thing when you start a service is to decide on a good pricing based on the mileage and the overheads involved.
Market and Advertise: You need to provide the people with an idea on the type of limo service your company is offering. Many people obtain information regarding limo services from the net. So try to market your business by promoting it through websites, flyers, and brochures. Contact local hotels and motels nearby the airport to let them know about your service.
If you are willing to start your own airport limo shuttle business, then you need to make sure you have a proper networking system. Good networking skills will allow you to get in touch with other limo businesses and get the required exposure that is needed for your business.