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Thread: Economy

  1. #16
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    Thing have been real slow here. We are mostly retail. We still have decent weekends but all weekday stuff has quit. Even our school Fund Raisers are way down this year. One of our biggest problems is we have a few companies that are under cutting everyone like $75 hr for hummers. We are holding good. Have cut back on over head expensive and are looking at sell one limo. I hope this will let us get through the winter.

  2. #17
    Senior Member Cedar Mill Limousine's Avatar
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    Calls (and emails) have definitely slowed down-although we are still looking good for the next few weeks (keep in mind good for us is 2 or 3 A/P runs during week and a busy Friday and Saturday). Most of our runs seem to come a couple weeks in advance. Our business travelers are still flying out as usual. Being our first year I am really not sure what to expect for the winter and next year. I have noticed a small increase in people hanging on phone trying to beat the price down. Not going to do it-you get what you paid for-don't be surprised with what rolls up to your driveway.
    Rich Rottier
    219.808.0976 | richrottier@gmail.com

  3. #18
    Super Moderator Limo Scene's Avatar
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    I guess I should count my lucky stars, knock on wood and pray that business keeps rolling the way it has. I have been fortunate enough to be able to farm out work to some Los Angeles based companies that I really didn't need to farm. Many of my peers in Los Angeles are hanging on by a thread and I know that it took a lot for one operator to call me and tell me he did not think he would make it through October. He also offered up his cars for a "take over payments" type of offer. I immediately gave him six jobs over a two day period and paid with AMEX so he could infuse money immediately. I also was able to send work to Gateway in San Francisco and Cardiff in Palm Springs so there is work out there - it is just a matter of finding it.

    I will say that the last two weeks we had phenomenal sales delivery but we were not taking very many reservations for this current week that we are in. It did concern me that going into Monday we only had a handful of reservations for the week. Don't know about most of you but most of our reservations come about one week in advance except for Saturdays which fill for us about one to two months in advance. So, you know a week in advance that a bad week is coming. But still, today we have a full day from last minute orders. Tomorrow is a little light but Friday and Saturday are heavy.

    Here is a sign of the unemployment rate though: I have been struggling to find good, qualified chauffeurs in our past recruiting arenas. So, Sunday began a blitz with radio advertising, Internet advertising and even the dreaded Sunday/Monday classifieds. I ran out of applications by noon as more than 60 people arrived in four hours!

    I am sorry to hear from my peers in big cities that things are not going well. I know it will pickup. Right after 9/11, I seriously thought we would close within 60 days as corporate work nearly dried up overnight. Not so this time around. Despite all the bad financial stuff, Boston Coach continues to feed me orders every single week. Other companies that are becoming big at farm outs are Regent Limousine in Houston, Texas, GEM Limousine in New Jersey who both have increased the number of jobs they are giving me each week. Might be worth a call to them to see if there is work in your area.

    Hang in there everyone!
    Jim A. Luff
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    Contributing Editor & Consultant - LCT Magazine

    Limousine Scene - An Award Winning Company Since 1990
    Bakersfield, CA
    Limousines, Sedans, Vans, Charter Buses, Limo-Buses, Wheelchair Vans www.limousinescene.com

  4. #19
    Member Limo Padawan limosatyourservice's Avatar
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    Default The Economy & Limousine Service

    I do agree that the economy is getting much worse, but this will be the test that will show who set themselves up for failure and who for success. The only limo companies going out of business are Large companies that depend on HUGE corporate clients (who may be going belly up), or depend on farm outs from the big limo companies that may go belly up because of those corporate accounts!

    It is time to be smart in how you run your business! At least 60% of your fleet should be paid off, your rates should not be on the high tier but more toward the middle, and you should be spending money on advertising and looking into creative marketing methods.

    Adam K.
    Limos At Your Service
    800-219-2664
    Serving the Los Angeles And Atlanta Markets!
    http://www.limosatyourservice.net

  5. #20

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    Quote Originally Posted by limosatyourservice View Post
    I do agree that the economy is getting much worse, but this will be the test that will show who set themselves up for failure and who for success. The only limo companies going out of business are Large companies that depend on HUGE corporate clients (who may be going belly up), or depend on farm outs from the big limo companies that may go belly up because of those corporate accounts!

    It is time to be smart in how you run your business! At least 60% of your fleet should be paid off, your rates should not be on the high tier but more toward the middle, and you should be spending money on advertising and looking into creative marketing methods.

    Adam K.
    Limos At Your Service
    800-219-2664
    Serving the Los Angeles And Atlanta Markets!
    http://www.limosatyourservice.net
    well you are definately forgetting all the "mom and pop" limo shops that have 1 or 2 limos and keep them at their house, especially now in the downtime (winter) where most of these mom pops do not do any corporate and there are little to no winter weddings, which also includes bachelor and ette parties, no proms, or homecomings... I think many of these little companies will go out of business this winter. At least this could be a small bright point to those of us that will make it: less competition
    I offer Search engine optimization for Limo Companies. Our main limo website has had over 9.6 million hits. Some of my clients: www.FirstClassLimos.net Rome Tours Tours in Rome Limo Service Philadelphia www.PartyBusToledo.com

    Call us at 1-888-51-LIMOS (54667) For referral work in Cleveland Ohio, Columbus, Toledo, & Pittsburgh PA and all cities in between - over 15,000+ customers and counting!

  6. #21

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    Quote Originally Posted by Limo Scene View Post
    Despite all the bad financial stuff, Boston Coach continues to feed me orders every single week. Other companies that are becoming big at farm outs are Regent Limousine in Houston, Texas, GEM Limousine in New Jersey who both have increased the number of jobs they are giving me each week. Might be worth a call to them to see if there is work in your area.

    Very good info there! I need to spread rep around until I can give you more though.
    I offer Search engine optimization for Limo Companies. Our main limo website has had over 9.6 million hits. Some of my clients: www.FirstClassLimos.net Rome Tours Tours in Rome Limo Service Philadelphia www.PartyBusToledo.com

    Call us at 1-888-51-LIMOS (54667) For referral work in Cleveland Ohio, Columbus, Toledo, & Pittsburgh PA and all cities in between - over 15,000+ customers and counting!

  7. #22
    Super Moderator Limo Scene's Avatar
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    Yeah, I know - I have heard that I can't get any more rep points but as I posted earlier - I ain't here for rep points! I'm here to share what I have learned in this bumpy - nearly 19 year ride.
    Jim A. Luff
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    Limousine Scene - An Award Winning Company Since 1990
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    Limousines, Sedans, Vans, Charter Buses, Limo-Buses, Wheelchair Vans www.limousinescene.com

  8. #23
    Senior Member Salicete's Avatar
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    Quote Originally Posted by First Class Limos View Post
    well you are definately forgetting all the "mom and pop" limo shops that have 1 or 2 limos and keep them at their house, especially now in the downtime (winter) where most of these mom pops do not do any corporate and there are little to no winter weddings, which also includes bachelor and ette parties, no proms, or homecomings... I think many of these little companies will go out of business this winter. At least this could be a small bright point to those of us that will make it: less competition


    I don't know about that, at least in my area. Most of the small, home-based limo businesses in this area run cars that are paid for and have very low overhead and thus are very recession-resistant.

    It is the medium to large sized shops that carry heavy debt that are in the deepest trouble in the DC-Metro area. Since small retail operators know from experience that the weddings, bachelor and night-on-the-town trips decline during the winter months, that fact should not have much of an effect on them since they plan for that lull in advance.

    Depending on your balance sheet, being one of the Big-Boys on the block is not always a good thing.

  9. #24
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    Even us small guys are not recession-proof, I am pushing like crazy to keep me head above water.

    Rep points? What are those?

  10. #25
    Senior Member Elegant Limousines of Palm Coast's Avatar
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    Wach what you say about the little guy.When times get tough the guy with low overhead will servive. The hot shot with all the bling will join the list of adds I see every day. ( MUST SELL OUT OF BIZ )

  11. #26
    Member Limo Padawan limosatyourservice's Avatar
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    I agree thats why I like to go with 60/40 rule. 60% paid off and 40% on payments! I run my business of 18 cars from home! drivers keep the cars, I have gas station accounts, car wash accounts, mobile mechanics and bumper and dent repair guys who come to the car wherever it is!
    Adam K.
    Limos At Your Service
    800-219-2664
    Serving the Los Angeles And Atlanta Markets!
    http://www.limosatyourservice.net

  12. #27

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    Quote Originally Posted by limosatyourservice View Post
    I agree thats why I like to go with 60/40 rule. 60% paid off and 40% on payments! I run my business of 18 cars from home! drivers keep the cars, I have gas station accounts, car wash accounts, mobile mechanics and bumper and dent repair guys who come to the car wherever it is!

    How on earth do you let your drivers take the cars home every night? I'd bet for sure they're using the cars for themselves and possibly out on their own limo runs, and at the very least using alot of your gas.
    I offer Search engine optimization for Limo Companies. Our main limo website has had over 9.6 million hits. Some of my clients: www.FirstClassLimos.net Rome Tours Tours in Rome Limo Service Philadelphia www.PartyBusToledo.com

    Call us at 1-888-51-LIMOS (54667) For referral work in Cleveland Ohio, Columbus, Toledo, & Pittsburgh PA and all cities in between - over 15,000+ customers and counting!

  13. #28
    Member Limo Padawan limosatyourservice's Avatar
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    Quote Originally Posted by First Class Limos View Post
    How on earth do you let your drivers take the cars home every night? I'd bet for sure they're using the cars for themselves and possibly out on their own limo runs, and at the very least using alot of your gas.
    That's why we have GPS tracking units on the cars! I got all my bases covered, thanks though!
    Adam K.
    Limos At Your Service
    800-219-2664
    Serving the Los Angeles And Atlanta Markets!
    http://www.limosatyourservice.net

  14. #29
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    Quote Originally Posted by limosatyourservice View Post
    I agree thats why I like to go with 60/40 rule. 60% paid off and 40% on payments! I run my business of 18 cars from home! drivers keep the cars, I have gas station accounts, car wash accounts, mobile mechanics and bumper and dent repair guys who come to the car wherever it is!
    Ever any trouble w/ vandalism and the like? Do your driver's keep them garaged? Behind locked gates? Does your insurance provider nail you to the wall if they aren't?
    Steve

  15. #30
    Super Moderator Limo Scene's Avatar
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    Shocking! I was told by our broker and at a loss prevention seminar at a limo show that if the car is damaged or vandalized at a drivers house you are shit out of luck on coverage.

    Does your insurance know you do this? Who is your insurance carrier?

    I would never advocate letting chauffeurs take cars home and keep them there. To believe that you are covered by your GPS isn't really foolproof. All it takes is one plug to undo it and then the chauffeur says, I don't know what happened - it is working now. You have no way to prove or disprove what he says.

    Not a good idea in my opinion.
    Jim A. Luff
    Forum Moderator
    Contributing Editor & Consultant - LCT Magazine

    Limousine Scene - An Award Winning Company Since 1990
    Bakersfield, CA
    Limousines, Sedans, Vans, Charter Buses, Limo-Buses, Wheelchair Vans www.limousinescene.com

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