Private transportation can be used for a number of purposes, offering chauffeured limo service to a special event or a hired ride to the airport in a shuttle. As the economy recovers, the outlook may be good for private transportation companies hoping to gain new clients.
Private Transportation Industry Growth Is on the Rise
It should come as no surprise then that chauffeurs are experiencing an above average employment growth rate of up to 20% expected from 2010 to 2020. The main reason for this spike in the growth of private transportation employment is an increase in public transportation systems throughout major cities.
What does one have to do with the other, you ask? Excellent question. Both taxi drivers and chauffeurs can expect higher than average employment rates as the need for drivers increases in major cities everywhere.
Individuals may choose to rely on both public and private transportation to forgo the use of personal vehicles altogether. As a result, professional drivers will be needed to privately chauffeur individuals and groups to business meetings, special events, and airport transfers; public transportation in the form of taxicabs and shuttles can be used to travel within a city, as well as to the airport.
Should You Start Your Own Private Transportation Business?
Clearly, there is a demand in major cities for private transportation companies that can offer shuttle and limo service for business transport and special occasions.
Before deciding to go it alone and start your own chauffeur business, it helps to understand exactly what it takes to get a private transportation company off the ground:
- Raise funds to purchase a fleet of vehicles. If you plan to start a limo business, for example, you will need to have enough startup capital to lease or purchase multiple vehicles to transport your clients.
- Apply for necessary licenses and permits. A private transportation business will require a tax identification number, a business license, and liability insurance at a bare minimum. Professional drivers will also need special licensing to transport multiple passengers, especially in a large shuttle.
- Advertise your services. Once you have waded through all of the red tape and are ready to take on clients, you must begin to market and advertise your services in your local area. Many professional transportation businesses do well by booking wedding clients, as well as corporate business clients for regular airport shuttle transfer.
Starting your own private transportation business is never an easy task, but it can be well worth the endeavor. As the private transportation industry continues to grow in major cities throughout the US, owning a chauffeur service could generate a lucrative source of income.