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San Francisco Limo

Company Summary

San Francisco Limo Incorporated is a small privately-owned limousine service headquartered in Burlingame.

Currently there are three sedans running. The sedans have been under utilized due to a lack of marketing direction. One vehicle is primarily tied up fulfilling a steady but low-yielding Medicare subcontract (CATA).

The other two vehicles have been struggling to capture transfer business (mostly to and from SFO Airport). This business, although attractive and growing steadily, has many competitors and involves a high level of dead-heading to pick up a fare or returning empty after a drop off.

A steady diet of airport pickups and drop-offs is hectic and stressful for the drivers. The airport transfer business is also clustered at certain hours in the morning and again at certain hours in the late afternoon which tends to leave the vehicles idle during certain slow airport periods each day. As a result, it is difficult to reach the national average for revenue per car of $4,615 per month.

2.1 Company History

San Francisco Limo was established at the beginning of 1997, and experienced losses resulting from too many hired drivers and inadequate managerial control. $26,500 was borrowed from family of the stockholders. The mistakes of the past have been corrected and the company is now on level footing.

However, the monthly revenue per vehicle stands at approximately $2,500, whereas, it should exceed the national average for the Northern California Region of $4,615. These statistics are based on the 1997-98 version of Limousine & Chauffeured Transportation Fact Book,which will be hereafter referred to as The Fact Book.

Limousine taxi business plan, company summary chart image

Past Performance
1996 1997 1998
Sales $0 $0 $92,007
Gross Margin $0 $0 $88,898
Gross Margin % 0.00% 0.00% 96.62%
Operating Expenses $0 $0 $55,141
Collection Period (days) 0 0 18
Balance Sheet
1996 1997 1998
Current Assets
Cash $0 $0 $1,200
Accounts Receivable $0 $0 $4,000
Other Current Assets $0 $0 $0
Total Current Assets $0 $0 $5,200
Long-term Assets
Long-term Assets $0 $0 $14,000
Accumulated Depreciation $0 $0 $0
Total Long-term Assets $0 $0 $14,000
Total Assets $0 $0 $19,200
Current Liabilities
Accounts Payable $0 $0 $0
Current Borrowing $0 $0 $12,000
Other Current Liabilities (interest free) $0 $0 $3,500
Total Current Liabilities $0 $0 $15,500
Long-term Liabilities $0 $0 $26,500
Total Liabilities $0 $0 $42,000
Paid-in Capital $0 $0 $100
Retained Earnings $0 $0 ($56,657)
Earnings $0 $0 $33,757
Total Capital $0 $0 ($22,800)
Total Capital and Liabilities $0 $0 $19,200
Other Inputs
Payment Days 0 0 80
Sales on Credit $0 $0 $40,000
Receivables Turnover 0.00 0.00 10.00

2.2 Company Ownership

The company is incorporated in the state of California by John Smith and David Jones, with equal shares held by their spouses.

2.3 Company Locations and Facilities

This is a home office, located in Burlingame, California. A two-car garage is also rented in nearby San Bruno, CA. There are no offices outside the homes of the owners. To maintain efficient head office fleet control management, a sophisticated network of cell phones and two-meter shortwave communication, in conjunction with land lines, are implemented by the company.