Limo service business plans can be fairly basic and still work wonders, provided they meet the criteria established for review by the Small Business Administration. The market need varies by region, but if you can get steady work either as a high-end taxi service or by servicing funerals, proms, or special events you can join the ranks of successful transportation companies. Your business plan for a limo service should include a three-year financial pro forma showing projected revenues, cash flow, balance sheet, and a profit and loss statement as well as separate analyses for break-even point and sensitivity analysis. Also account for these points:
• What revenue do you project for Year 3?
• What advertising methods can you use to generate new business?
• How many employees will there be, and at what pay rates?
• Which competing companies are closest to your proposed location?
• Who will be the core managers of the company and what are their qualifications for the role?
Limo service business plans do not require extensive data sets, but you do need to pin your financial assumptions to market figures or industry averages to the greatest extent possible. Also, use the Census and Dun & Bradstreet to gather data sets supporting the claim that your target market can support the sales you estimate. MasterPlans can develop the marketing plan, market analysis, or financials for you -- just call 877-453-2011 to get a free consult and quote. Our in-house team of experts can get you a stellar funding-ready document in record time.
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