Limousine companies are constantly burdened by the high costs of vehicle maintenance and buying new vehicles. Whether it’s carpeting, seating, bar equipment, or old GPS systems, something always needs to be replaced.
This is due to inevitable wear-and-tear, the availability of new technology and the tendency for passengers to get a little carried away as they enjoy themselves. And when most of your limousines are of the same age and model, there’s a good chance that multiple vehicles will require maintenance or become outdated at the same time.
Just when you think you’ve seen the sleekest limousine in existence, an even more stylish model drives by. The continuous release of increasingly advanced limousines has raised customer standards. Limousine companies must therefore snatch up the latest and/or most popular models ahead of their competitors.
But maintaining and buying vehicles at the desired time is often not possible thanks to high insurance premiums and seasonality. With so many ups-and-downs throughout the year, saving money for expansion becomes very difficult. The busy season ends up being nowhere near as profitable as it could be if you had more cars and drivers.
Fundture Capital has many years of experience providing Small Business Loans for Limousines & Rental Car Companies. We can provide all types of business lending products. Contact us today for your FREE business funding consultation!
