Trading one of my personal cars for a limo

[J Perez]

Buddy is getting out the limo business because he just bought a barbershop and wants to focus on that. I'm in the Chicago north suburbs area .

He wants to trade his last limo, think it's a 15 passenger or so 2005 town car limo for my 05 Lincoln Navigator .

I have another personal car so I'll still have a daily driver. Would you guys jump on this opportunity . I know it's not fast lane business , but any extra money is always good lol [emoji16]


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[Get Right]

Worked for MJ.

 

[JoeB]

I know it's not fast lane business , but any extra money is always good lol [emoji16]

Not necessarily.

What plan were you working on before the opportunity arose?

Will acquiring the limo interfere with that plan?

 

[J Perez]

I'm working a normal full time job .

Have a few side hustles so that's all it would be to me.


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[J Perez]

Ended up doing it lol.

First month and have 6 appointments, probably won't make money I make at work

But it's extra money for now

 

[biophase]

Can you Uber a limo? Seems like it would make alot of people feel really good.

 

[J Perez]

I think you could uber one lol, if I signed up for it. Currently use one driver.

If I keep getting appointments I'll probably end up getting another one limo and another driver. Nothing but extra money for now. Don't really see it going anywhere crazy . Lol [emoji16]


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[Horus]

What's up Joel, how's it working out with the Limo?


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[Ankerstein17]

Whats the opportunity cost vs the cost of selling your navigator. Then realize, what the duration of the limo is in terms of its life. What will it cost you to operate, and what kind of revenue it will generate. If you have this all answered I think you should have a good idea if its a good trade or not

 

[MJ DeMarco]

Thx to uBer and on-demand transportation, the limo business is a dying industry. I wouldn't recommend anyone getting into it.

 

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[jon.a]

Thx to uBer and on-demand transportation, the limo business is a dying industry. I wouldn't recommend anyone getting into it.

Well then, maybe on demand limo's?

 

[Charis]

Weddings, funerals, proms the list goes on there is still a market for Limos IMO.

 

[RHL]

Weddings, funerals, proms the list goes on there is still a market for Limos IMO.

You don't want to buy in at the last gasp of anything. Your start up cost is going to be the same as it was in 1994, but your profits will be a fraction of what they once were. It'd be like opening a video rental place. You could still make money, sure, but it'll be peanuts compared to what it used to be.

 

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[Charis]

You don't want to buy in at the last gasp of anything. Your start up cost is going to be the same as it was in 1994, but your profits will be a fraction of what they once were. It'd be like opening a video rental place. You could still make money, sure, but it'll be peanuts compared to what it used to be.

You don't want to buy in at the last gasp of anything. Your start up cost is going to be the same as it was in 1994, but your profits will be a fraction of what they once were. It'd be like opening a video rental place. You could still make money, sure, but it'll be peanuts compared to what it used to be.

True but you still have the large party market. It's all in how you market yourself. Also I believe this was a side gig so we are not looking to kill it just have an extra income source. I would decide a figure you want per month and how many jobs that would take, then drive paid traffic to achieve the goal. You should still be able to make a couple of thousand per month easy.

 

[MJ DeMarco]

True but you still have the large party market. It's all in how you market yourself. Also I believe this was a side gig so we are not looking to kill it just have an extra income source. I would decide a figure you want per month and how many jobs that would take, then drive paid traffic to achieve the goal. You should still be able to make a couple of thousand per month easy.

How many years did you spend in the limousine industry? I spent nearly TWO decades. Weekend warriors (what you are describing) do NOT make money unless they go gypsy -- underinsured, undermaintained, and under-licensed. I respect the idea that weddings and proms aren't going away, but they are NOT enough to sustain a limousine business, even on the weekends for "extra money" -- if someone is properly licensed, maintained, and insured-- there is no extra money after it is said and done.

 

[Charis]

How many years did you spend in the limousine industry? I spent nearly TWO decades. Weekend warriors (what you are describing) do NOT make money unless they go gypsy -- underinsured, undermaintained, and under-licensed. I respect the idea that weddings and proms aren't going away, but they are NOT enough to sustain a limousine business, even on the weekends for "extra money" -- if someone is properly licensed, maintained, and insured-- there is no extra money after it is said and done.

I stand corrected your experience obviously trumps me. I was under the impression he had a driver and was doing this full time not as a weeked warrior.
If it is full time I would suggest partnering with funeral homes,wedding planners, funeral planners, party planners, hotels etc to get referral business.

 

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[RHL]

Weekend warriors (what you are describing) do NOT make money unless they go gypsy -- underinsured, undermaintained, and under-licensed.

Heaven forbid, but I'm still waiting for the first $XXX,XXX,XXX lawsuit to hit Uber after an Uber driver's passengers are involved in a fatal accident.

 

[Lauryn]

I think they have enough on their hands with the sexual assault and rape allegations some have had, not to mention cities like Austin requiring more stringent standards.