How To Start Up A Luxury Limousine Rental
The car rental business is a business that has a lot of potential and is continuing to grow. This means that while the market may be competitive and saturated, there is also a lot of potential to make alot money in the right market. If you do not mind working long hours and love meeting new people then starting a car rental business such as limousine rentals may seem a good idea. Here are a few factors to consider before doing so.
Know your clientele
The limousine rental business is not set out to fit everyone as it is based on two very important factors, exceptional customer service and the availability of the services. This is why being a people person should be an ideal personality trait in this field more so than the others. Most people rent limos and other luxury cars at all hours of the day and the type of clientele who would rent these can get busy and call for erratic hours. You could rent Rolls Royce Dubai cars for example but if the customer service that is rendered is not in par with the customer expectations, this is a sure sign of an unsuccessful business.
Start up costs
If you were to start with your own car or vehicles, the initial costing would dramatically reduce as it would be costs such as insurance, gas, maintenance and website and marketing that you would have to spend on. However, if you were to start a virtual call center, a toll free number, business cards and the website would cost more, mainly depending on the investments on the website. Most luxury rentals for example that rent Lamborghini Aventador cars would invest a hefty amount on making the website look classy and as per the model of the car. Some of these rentals are done only for specific race tracks too.
Type of company
There are different types of car rentals that come up with car rentals, these are virtual call centers where it is easy and inexpensive to build a customer base and get capital initially. Or there is the drive a vehicle option where you need drive the vehicle in order to increase your revenue sustainability as opposed to outsourcing them. The most risky way to start this business would be to launch a fleet of cars and this not only is risky but requires a very large capital to purchase luxury cars and limousines. Chauffeurs and dispatchers will also have to be hired and other additional costs for them such as flat fees to lease the vehicles or handing out percentage of their fares will make the business risky even though it is rewarding when the sales start picking up.