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Old 07-29-2007, 10:05 PM   #1
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Default 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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Old 07-29-2007, 10:09 PM   #2
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Sounds like a good investment there. I'm assuming that you would get any existing contracts he has and his customer base. sounds good to me
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Old 07-29-2007, 10:13 PM   #3
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Yes everything will come with it, he even told me that he would stay on board for 2 months to help me continue the business.

Miight I add that he is selling the business because 1 he just got back surgery ( I saw the scar all I can say is wow) and can't stand sitting in the vehicle anymore, 2. His wife has a business that is doing really well.
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Old 07-29-2007, 10:15 PM   #4
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sounds awesome! I DJ weddings when i can and it is a great area to do business... lots of money to be made there if you are run a presentable business. Good Luck!
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Old 07-29-2007, 10:24 PM   #5
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Damn Vince, this sounds like it could be a huge opportunity for you! All-in-one wedding service!!
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Old 07-29-2007, 10:24 PM   #6
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Being where I work, I do know this... Hispanic/Mexicans familys are HUGE on sweet 16 b-day parties. I just seen one girls pics and they spend big bucks on them.
(not being hispanic) isnt there another biggy thing for the girls in the family?

Vince, Im sure you will check out all your possibilitys (sp) on this venture.

Need a driver?
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Old 07-29-2007, 10:32 PM   #7
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Haha, actually yes we will be needed a driver if we go through with this. But your 2 far away

Maybe I will roll up to WCBF next year in a stretched H2.
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Old 07-29-2007, 10:36 PM   #8
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If things go well within a few years, you should get a stretched GXP! That would be sweet. lol
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Old 07-29-2007, 10:44 PM   #9
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Hey!!! its got air conditioning.
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Old 07-29-2007, 11:01 PM   #10
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That sounds like a pretty good investment to me...

I have actually wanted to start a limo service for a long time now. I don't know what it is about limos, but i am drawn to them. But there isn't much of a market for limos where i live. We have one limo in town and it barely gets used.
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