August 15, 2016

Many enterpreneurs like the glamour of starting a limousine business but the road to their

success may be a little bit more complicated than one might anticipate. This article will concentrate on the financing side of the startup investment and try to give the want to be limo entrepreneur a reasonable assessment of what is in store for them.

Today, most typical lenders aren’t interested in lending money to a start up business for a limousine service. They consider it a high risk type of business and feel that their investment dollars can be better spent somewhere else in their portfolio. However, there a few lenders out there that feel comfortable in the transportation industry and will lend accordingly. Their bankground might be exclusively in this industry and will cover not only limousines but additionally limousines and shuttle buses, coach and tour buses, ambulances and hearsts etc.

Most lenders review the applicant’s background and want to ascertain that they have experience it in this industry and/or have other key employees that can supplement this situation. Additionally, they understand that this start up business may lose money at the start and want a comfort level that the applicant has a nest egg of money. An income producing spouse that can support the cash flow demand.during the start up phase would be a real plus. Additionally, the personal credit of the applicants may be raised to a higher standard to reinsure the lender that he has a qualified applicant.

Once the lender gets passed the initial credit review and the applicant’s qualifications to run this type of business, the amount of upfront money to qualify for a lease becomes an issue. Each lender is different but for the most part they require the applicant to put up somewhere between

10%-25% of the acquired cost of the limousine. Each limousine deal is reviewed separately by the lender because, in their mind, a hummer vs a lincoln stretch has different criteria to them. They review the year, make and model, including the mileage, etc to come up with a financing deal. Many lenders don’t like lending below $25,000 to $30,000 and a limousine no older than maybe three to four years old. Additionally, their leases could run as little as 30 months and as much as 60 months. It is advised for you to look at more than one lender and see what criterial is best for you.

The final part of the financing exercise is to find out how much you monthly payment will be. This can be an interesting exercise because know one is going to quote you an interest rate. I have seen start up limousine businesses being charged anywhere between 14%- 38% interest per year once you get through all the red tape. This carrying cost is criterical for you to make sure you are able to afford the payment per month because you don’t want a run away business which will be out of balance from the start. It …

Marketing yourself as a qualified insurance agent is one of the most important components to achieving success. For an agent, success is often measured by the number of clients who make a decision to buy the products and the services that you are offering to them. Proper marketing will help you increase your customer base, but you have to be creative about it in order to stand out from the rest of the agents whom you are competing against. Here are six clever and creative ways that you can make that happen.

Develop a client appreciation program.

When your clients feel like you appreciate their business, they will spread the word to their friends and family. Find a way to show your regular clients your appreciation (Thank You card periodically, free upgrade of service, etc.) and you’ll see your success grow.

Use direct mail.

Sending out postcards and letters to your current clients and potential leads will help expose your products and services to a wide audience. Don’t send out boring form letters, though. Be creative so you can get their attention.

Create a newsletter.

Newsletters are great ways to keep your clients up to date on the latest developments in the insurance industry. There may be new products on the market or important news that they will find interesting. Add a personal touch by adding something about your family or a special greeting. Send out the newsletter monthly or every other month, but be consistent about it either way.

Develop a website.

If you want to compete in today’s business world, it’s essential to have a website for your clients and potential leads to visit. However, it shouldn’t just be any website. You should hire a professional web designer to develop the website so it looks great. It’s also ideal to have a section of your site which explains the products and services that you offer as well as a link that customers can click on to get in contact with you.

Be responsive.

The quicker you respond to a client’s questions or a lead’s phone call, the more successful you will become. By responding quickly, you will show them that you appreciate their business rather than making them feel like a bother.

Publish articles online.

One way to market yourself as an insurance agent is by publishing relevant articles online. You can create a blog, post to ezines or other websites so you can get your name out there. When potential clients and existing customers do a Google search for your name, they will find all of the articles you have posted and they will be more likely to trust the information that you give them.

These are just a few of the ways you can market yourself as an insurance sales representative and increase your success as a result. Find a few agents in other areas who are successful and ask them for their secrets. If they don’t live in your area, they will be more likely …