New Limo Business/OWNER IS THE DRIVER/Need Advise

[Bigdan]

St louis: no limousine shal be older than 10 years while in serviceno limousine shall be more than 4 years old when entered into service.Taxes, permits, fees? Ok In depth saftey and appearance inspection? OkAge disqualification? Required uniform? None residential business address? Thats alot of overhead to get started. I could even understand this for certain areas like downtown or the airport but the whole metro area? Come on!

[Elegant Limousines of Palm Coast]

Must have 4 cars to start !! Bull shit !! That's like telling McDonalds you have to offer 4 kinds of burgers or you can't sell food in this city. Another example of a government that was set up to speak for the people that is now telling the people what they can and can't do. So lets just drive out all the small business and make this a communist country. Like I said BULL SHIT !!! I can see having regulations but have them make sense. Like yearly vehicle inspections and driver back grounds and proof of ins. But who the hell are you to tell me how to run my business !! Glad we don't live there. Talk about anti small business. Sorry just my 2 cents.

[O5EXECL]

Must have 4 cars to start !! Bull shit !! That's like telling McDonalds you have to offer 4 kinds of burgers or you can't sell food in this city. Another example of a government that was set up to speak for the people that is now telling the people what they can and can't do. So lets just drive out all the small business and make this a communist country. Like I said BULL SHIT !!! I can see having regulations but have them make sense. Like yearly vehicle inspections and driver back grounds and proof of ins. But who the hell are you to tell me how to run my business !! Glad we don't live there. Talk about anti small business. Sorry just my 2 cents.

amen to that elegant !! its hard to start out with a fleet that size in this economy for small business owners!

[vflllc]

Seems to me the former owner is looking for financial help and wants to drive and get paid for it. Besides driving what else does he bring to the table? If you are the money I would say no partnership, if he wants to drive, you will gladly pay him, maybe you give him a 10% interest in the company, but it just seems to me he is looking for a bank. I think I would run from this deal.

Exactly right. Consider the following:

1. Hire however it is as a driver at first

2. Pay the driver the set industry-competitive (FAIR) driver pay for his work.

3. Offer him the option to "invest" his pay or a portion into company stocks earning him a percentage of the bottom line profit, again FAIR Pricing.

4. Set a limit on how much he can invest I suggest no more than 10%-20%.

5. It's possible that his Owner-Operator Business is going down-hill or is not running properly (does not have the right clienetele: cabbie business). That is common among owner operators specially here in Philadelphia. Therefore HE CAN BE TERMINATED and his shares bought-out, if he does not meet the set standards.

6. A friend just reminded me of this recently: At your choice give him voting rights (you can limit that by two types of options) Stock option A for example is full-rights. B is non-voting member rights. But I suggest you give him full rights. this is just an option.

7. I also suggest you Buy Tom Mazza's Limo Business DVD and Ultimate Chauffeur package for reference, should cost you about $500-$700 for both. Worth every penny and use that for reference. Best of luck!