Entrepreneurs.... Big Business Decision.....
Well, I am considering to buy a limo business that is up for sale. Its a 1 vehicle business right now, a stretched H2. My whole goal with my business that I own now was to take over Yuma, AZ for wedding needs eventually(photographer, videographer, DJ service, limo service, wedding planner and all that) This will be a hugh investment 100K he is asking, so I could probly get him down to 90K maybe 85k or so. But I am willing to take the risk. I will do about 25-30 weddings by the end of the year, my business is growing alot but seems that I can't make the multi millions I want to make with just shooting photos and video. If I was able to get 50% of my weddings next year to go in on using the H2 for their wedding, I would clear about $30,000 on 20 weddings (assuming I would do 40 wedding next year) Thats not bad and in 3 years the business(Princess Limos) would be paid off. I have always been told if you don't take risks you wont get anywhere.
This week I will be talking to the owner going through his books the costs to maintain the vehicle, the pricing he uses. How many jobs he has had with the business the last couple of years, get the vehicle appraised and all.
To add to this he is the only stretched SUV in Yuma, AZ. He has contracts with the local casinos for entertainment that comes into town, there is alot of mexicans here so there is the sweet 16 parties for them, 6 highschools (proms dances ect) about 12 Marine Corps balls each year, and plus thousands of weddings each year. Its seems like a reasonable deal.
Almost every wedding I do he is their with that H2
What do you guys think.
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