When you’re mentally prepared to hand over the reins of your bus business, the last thing on your mind is probably investing more time in your company – especially if that time is unpaid. Yet agreeing to provide owner training for a designated period of time after a sale can provide benefits for the seller […]
Transportation
Getting on the Road to a Successful Transportation Business Merger
As our nation emerges from a period of economic recession, rates of mergers and acquisitions are bound to increase. The ensuing race for survival may require some creative strategic planning, including the possibility of a mutually beneficial merger. When complementary companies join forces, the mere increase of size can help protect them from the harshest […]
4 Steps to a Quick and Successful Limo Business Sale
A quick business sale isn’t just convenient – it’s also effective. While you don’t want to rush into a sale with the wrong buyer, you also don’t want to spend months – or years – waiting for the right one. Research has shown that the longer a business lingers on the market, the less likely […]
3 Tips for Avoiding Corporate Culture Clash in a Limo Business Merger
On paper, a merger is a foolproof formula for growing a company. How can you go wrong by combining the skill sets of two experienced owners and management teams, while simultaneously reducing costs and increasing market penetration? In practice, however, mergers come with risk. Every business has its own unique philosophies and management styles. Attempting […]
Setting the Best Rates for Your Limousine Services
If you have recently purchased or started a limousine business or are considering purchasing or starting one, then one of your primary concerns is probably how to determine your company’s rates. Finding a balance between making enough profit to sustain your business (and yourself) and keeping your customers happy with fair rates can be quite […]
How Much Risk Should You Take to Grow Your Limo Business?
In the right doses, risk can be a good thing. Without taking a leap of faith, successful entrepreneurs would never have gone into business in the first place. However, taking risks to expand an existing business can be nerve-wracking. Without challenging yourself, you’ll never grow – but if you bet the business, you could lose […]
5 Reasons Investors Won’t Commit to Buying a Bus Business
Most business owners know finding a buyer won’t happen overnight, yet many are surprised to discover just how difficult it can be to get an investor to commit. But consider the buyer’s point of view. Buying a business requires an enormous amount of money, energy, and time. Essentially, buyers are signing up for a new […]
How to Reduce Risk for a Lawsuit That Could Ruin Your Chauffeured Transportation Business
When your business involves many hours spent on roads and highways, accidents are an unavoidable risk. But lawsuits in the limo industry don’t just come from collisions. Often times, class-action lawsuits and other legal actions are brought from within an organization. An expensive lawsuit can easily sink a small business and leave a business owner […]
4 Biggest Turnoffs for Limo Business Buyers
Buying a limousine business is stressful enough for a buyer when everything goes right. If investors run into obstacles in the beginning, you can bet they won’t stick around to see if the situation improves. When hundreds of thousands of dollars are on the line, qualified buyers can change their minds in a heartbeat. Here […]
How Your General Attorney Can Cost You a Limo Business Sale
When it comes to hiring an attorney to structure your chauffeur business sale, you really do get what you pay for. An experienced attorney can manage even the most complicated business transactions smoothly and seamlessly. However, an unqualified lawyer can make a seemingly perfect deal vanish into thin air. Attorneys have a reputation for being […]