Our first business idea for transportation is…..party buses. Yes, that’s right you heard correctly. From a business standpoint, you have to love the idea. Not only because there are a few different routes you could go but also because it won’t require a massive outlay of cash in the very beginning.
Where to Begin: the First Steps
The first thing you are going to want to do is determine whether it’s viable in your area. If you live in a small town or nowhere near a major metropolitan city or county in your state, you can pretty much count out this transportation business idea.
So the first step would be looking at and researching your market and the areas you want service.
The second step is going to depend on whether you are going to own your own fleet or broker/rent the buses. If you are just starting off then the idea of asking for a loan from the bank in upwards of a couple hundred grand may be a bit intimidating.
However, that’ the great part about this business model. You don’t need to in the beginning.
When it comes to licensing, this will vary state by state, however, you must be licensed with your transportation authority and you will need to have insurance. Make sure and compare between brokers and your local Allstate, State Farm and Farmers insurance agents.
For those starting their own party bus business, these are the two largest initial investments to get your business up and running according to a few companies. (no pun intended)
Location of Your Party Bus Business Matters
As we mentioned, the location is by all means the most important part of your party bus business. Start in one area and focus on that. Once you start to get regular business, then you can expand to more areas or even grow into a national network. Party Bus Group is a prime example.
They started off offering services for party bus rentals and rapidly expanded by growing their network and through partnerships.
So, let’s recap real quick what we’ve covered in our first business idea in the transportation industry.
When starting off, try looking for business opportunities that don’t require a huge initial investment. A party bus rental service meets the criteria(but only if you rent the vehicles in the beginning)
Look at the legal requirements.
Make sure you consider the legal obligations. Since you will be transporting individuals, it’s vital to make sure you are properly licensed and insured.
Once again coming back to the above points, insurance and licensing fees are the biggest initial costs and they range. But one more is going to be marketing and getting word out about your business.
This will be harder in some locations than others depending on how many other party bus businesses there are.
In the meantime, check out this awesome party bus conversion!— March 22, 2017