Whether it’s a wedding, prom night, corporate event, or a birthday, limos are a great way to add some exclusivity and fun to personal events - making it a lucrative business for someone with the right chops. While the initial investments are considerable, limo services are highly scalable and can lead to good revenue over time.
If you're in Tempe, Arizona, you might want to venture into this business, providing luxury and convenience to the public - the city has a strong business and education background, making limos more accessible to the average citizen and a pretty solid investment.
Here are a few ways in which you can make money off limousines in Tempe:
1. Offer Detailing Services for Limousines
A limousine is a luxury vehicle, not an everyday car. Therefore, it requires special care, particularly when it comes to detailing and washing. If you need to generate extra money, you should look into using your spare time to provide tailored detailing services exclusively for limousines.
Automobile detailing entails the thorough restoration, cleaning, and finishing of an automobile inside and out to generate a pristine detail level; it entails restoring and cleaning or surpassing the initial condition of the surface of the vehicle's finish, windows, and tires.
As limousines are commonly associated with events such as bachelor parties where several attendees are inebriated, there’s always the risk of an accident happening. For a limo detailer, this means steady, regular, and well-paying business.
Car detailing is time-consuming but can be extremely lucrative as a business operation. Since there's competition for this kind of business, you should begin planning for your success as soon as possible. Begin by concentrating on the overall prerequisites that lay the basis of a thriving detailing shop.
Make sure you establish the shop at a location that permits your employees to manage numerous clients simultaneously, whether outdoors or indoors.
If you want to succeed in this business, you'll need to decrease the waiting period for customers. It's equally important that you invest in the appropriate tools and supplies that will produce the best outcomes.
Bear in mind that some clients might be very specific about the kinds of tools and products your employees use on their vehicles. You should also hire employees who are experienced in this business. Offering top-notch service is vital for a new operation. After all, you want repeat customers who will refer you as well to other owners/drivers.
2. Rent Out Your Limo
A limo rental business is potentially lucrative and the industry is worth billions. While the business might start slow, a good advertising strategy can make you the go-to business for graduations, weddings, and corporate events.
Just note that your profit depends on your frequency of working. The advantage of renting your limo is that demand will always be there for limousine services. If you're strategically positioned and there's scarce competition in your service areas, you could enjoy booming business.
If you run the business efficiently, there will constantly be a need for limo services. This implies investing sufficient effort to offer quality service while ensuring you market to the appropriate audience.
You'll discover that people of various kinds use limo services. Nonetheless, this depends largely on the area in which you're offering services. You'll come across occasion-based users who rent these services for special events such as weddings, birthdays, and engagements.
You'll also find corporate customers trying to impress new clientele, secure business deals, or simply avoid time wastage on commuting. Alternatively, you could opt for special area-related activities or sights where you could position yourself for instance by providing exclusive tours, luxury shopping experiences, and scenic drives.
With this idea, you'll be very busy throughout particular months when certain events occur. Generally, graduations occur around the same time while people generally love summer and spring weddings. Recognizing these peaks can help you prepare financially and mentally. This way, you can generate extra income in such times and spread it over months where there are decreased business opportunities.
3. Run Adverts on the Limo
Another way of earning income is by running adverts on your limo. Several ways exist through which you can run ads on your limousine. You could mount an electronic board above your limo, you could brand the limo partially, or you could brand it for clients on an individual basis - this is a great option for corporate events where a company may want to advertise itself while entertaining its employees or guests.
Generating money from plastering your vehicle with an advertising wrap could be a huge deal if you don't mind the adverts and you meet the prerequisites. You could make between $200 and $400 monthly for doing this - even more if you secure multiple contracts.
When it comes to auto advertising, that could imply driving at least 800 miles monthly. If you drive a lot on the freeway and in busy areas, auto-wrap advertising can be a way of paying for your gas. The first thing you'll have to do is register with an advertising agency in your region.
Make sure you register your vehicle with an advertising agency and ensure it's close enough to apply the wrap and eliminate it once the contract ends. Beware that some companies might only accept certain models if they think it's significant to their message.
4. Train Others How to Drive a Limo
One way you can generate extra income in Tempe is by training potential limo drivers on how to drive that car. No doubt, anybody who can drive a vehicle could easily maneuver his or her way to drive a limo, however; it doesn't come cheap, and it takes a certain degree of effort and practice.
To become a professional limo driver, you should learn the trade and the only way to do so is by doing it practically. As a private driver, you'll earn extra money during your free time without leaving employment.
5. Work as a Service Agent
Another service worth considering if you want to generate extra income as a private driver is working as a service agent. Your role as a service agent will include helping clients get limos and drivers as well as helping limo drivers secure business deals.
This will only be possible if you've been able to grow your business in a way that your clients are more than you can handle. Instead of permitting your clients to source limo services, you can assist them in that regard.
This is a good way to start out if you have limited capital and will get you to network with other limousine owners - potentially resulting in you partnering or opening a limo business by yourself.
This will earn you commissions from whoever you'll recommend for the task. Just ensure you have a contract agreement with all private drivers under you.
6. Offering Limo Service for Weddings
When it comes to weddings, numerous transportations options exist from which to choose. However, limos remain the most timeless and elegant of the lot. If you want to succeed in this area, you'll want to prioritize certain factors.
To begin with, you must work with well-trained drivers. You want to ensure you hire a professional driver who grooms accordingly, is time conscious, and acts appropriately at events. Your driver must always be sophisticated and professional. Consider offering packages as well if you want to land numerous clients.
It isn’t just your drivers, however. People tend to be very selective of the businesses they employ for wedding events - after all, it’s a very special memory with a lot of cameras, and no one wants a slip-up! To secure wedding contracts, you’ll need to be charming, affable, reassuring, and in short, able to make your customers feel secure and well-treated.
The upside of all this effort is immense - pulling off a successful wedding contract comes with a host of benefits:
- You’ll be able to potentially have multiple bookings at once for various wedding events.
- If you do well, you’ll spread by word of mouth to dozens of wedding guests.
- Finally, you’re also likely to have better-behaved clients as compared to the nightlife crowd - leading to fewer interior mishaps.
- The hours will be easier and less stressful for your drivers and yourself.
Conclusion
A limousine business can be lucrative. However, beginning one requires that you navigate the intricacies of securing funding, buying vehicles, and endorsing your business.
Once you've identified the market you'll pursue, create a plan to help you understand your competition, the local market, and the resources you'll require to launch the business - this will help you get a solid footing in the limo business in Tempe.