Are you crazy?
Those were my first words when a friend of mine said he was starting a limo company.
He said he created an awesome website that generates leads and now he has a way to service those leads.
Before we move any further in this article check out his website by (clicking here).
Ok. I thought his website was okay. It didn’t look pretty but it got the point across. Then he showed me the number and statistics behind it and I was blown away. But still a limo company. He can barely drive at best.
But he told me that was the beauty of it. All he had to do was generate all the leads and he brought in a business partner and he was take care of all the other stuff.
Ok I thought. Great idea but why take on all the risk of owning a car and all of that other stuff with owning a physical location. But then again who was I to judge I have made some pretty bad decisions in my business life.
So for a while things were going great but he insisted on being a hands off owner. And what I mean by that is he only generated leads and was never at the business. So eventually as you can imagine his manager (the one who took care of all the other stuff) started to get real shady. Which as you can imagine happens in the limousine business.
Eventually my friend started to notice a lot of repair bills on the limos and then some cash was not really accounted for. And then one day the limo was gone and so was the manager with a lot of cash.
As you can imagine my friend freaked out and didn’t sleep for 3 days.
Eventually they did find the limo 3 states away with a couple of hookers and drugs and the manager in the back seat. Come to find out this is quite common in the limo industry if you are not hands on with the business.
So after all the claims and legal stuff got sorted out my friend sold the limos and said goodbye to owning the limo company.
He did however keep the website and leases it to another limo company in town and generates revenue off of it that way.
I guess the moral of the story is that if you are going to actually own a company that has a location that offers products or services it is in your best interest to be their to make sure things are running smoothly because people will take advantage of you.
I tend to think the best of people and trust them but it is not rude or impolite to always check on them. What I mean by check on them is by audits, cameras, etc.
I think you catch my drift. Always be checking your assets.
Have you ever had any friends do anything similar?