Luxury supercar idea

[shadowx]

What do you think of this idea, luxury supercar chauffeur company.

It will start with something simple like Lamborghini Huracan

Ways we can make money from it....
- Chauffeur only for proms, weddings etc. getting children 2 hours to rent on their birthday and of course giving to a big track where people can drive around.

How is the market like this for in UK and is it viable? Let me know your thoughts and additional ideas to improve it.

 

[Gordon - Commercial Finance]

It will start with something simple like Lamborghini Huracan

"Something simple like a Lamborghini Huracan" is perhaps the weirdest and most confusing sentence I've ever seen here, and that takes some doing.

Anyway, there is a market for it, there's loads of companies doing it and I'm sure you will find people to rent it from you sometimes. For weddings of course you need to think about the fact that if you're taking the groom, you only have room for one and he comes with an entourage, and even more so the bride has an entourage and will find it difficult to get in and out of.

Its quite popular for weddings now to rent a car for self-drive, which the groom and best man then rag around town pretending to be something their not. You are paying for the tyres and excessive wear on a sensitive engine, and your insurance premiums will start big and get bigger as people bump it or set it on fire.

However the biggest thing you need to figure out is how you're going to buy the thing. What money do you have already? Do you have an established business already that can secure funding to buy this? Vehicle finance is quite readily available for new starts, but the credit covenant needs to be very good, and there isn't a finance company in the world that will lend six figures for a new start business to buy a supercar.

 

[ComPropSolicitor]

What do you think of this idea, luxury supercar chauffeur company.

Did you come up with this by yourself?

 

[ethical PR]

What do you think of this idea, luxury supercar chauffeur company.

It will start with something simple like Lamborghini Huracan

Ways we can make money from it....
- Chauffeur only for proms, weddings etc. getting children 2 hours to rent on their birthday and of course giving to a big track where people can drive around.

How is the market like this for in UK and is it viable? Let me know your thoughts and additional ideas to improve it.

Only you will know the answer to the question of whether it's viable - what does the market research you have carried out show you?

A fairly crowded market with high entry costs if you are going to run multiple cars with their high insurance costs.

 

[BusterBloodvessel]

Not even fully sure why I'm replying to such an ill-thought out idea, but here goes..

Regardless of the points raised above, in particular the insurance, many race tracks are restricted to the number of days they can operate per year, and the cost to do so per day therefore can be astronomical. It is not just a case of "giving to a big track where people can drive around"

 

[shadowx]

However the biggest thing you need to figure out is how you're going to buy the thing. What money do you have already? Do you have an established business already that can secure funding to buy this? Vehicle finance is quite readily available for new starts, but the credit covenant needs to be very good, and there isn't a finance company in the world that will lend six figures for a new start business to buy a supercar.

Thanks for response.

Yes funding is available for it.

The main reason behind the idea is so the supercar pays for itself. Of course can afford it without this chauffer idea, but hopefully giving it out, even 1-3k per month should help pay for it self.

 

[shadowx]

Only you will know the answer to the question of whether it's viable - what does the market research you have carried out show you?

Yes I'm doing that as we speak, also one of the reasons I made the thread to get other viewpoints.

One thing for sure I will not be doing is renting out the car in someone elses hands, young drivers especially will floor it, probably damage the brakes. Plus comes the insurance and deposits. So it will be chauffer only at beginning.

 

[Gordon - Commercial Finance]

Yes funding is available for it.

You have funding in place already? Or you think funding is available in general?

 

[shadowx]

You have funding in place already? Or you think funding is available in general?

Yes in place already.

I know "something simple like huracan" sounded weird , that's because I plan to expand to other ranges like mercedes, aventador and other models after that. So huracan is just the starting point.

 

[Gordon - Commercial Finance]

Yes in place already.

I know "something simple like huracan" sounded weird , that's because I plan to expand to other ranges like mercedes, aventador and other models after that. So huracan is just the starting point.

Yes well most would start with something genuinely simple, like a Mercedes, and then work up to a Lambo.

So you just had the idea, haven’t really worked out any other details, but you have funding in place already? I’m curious.

 

[shadowx]

Yes well most would start with something genuinely simple, like a Mercedes, and then work up to a Lambo.

So you just had the idea, haven’t really worked out any other details, but you have funding in place already? I’m curious.

Lambo is my dream car so I have had it in my mind a long time.

Only the chuaffer aspect I thought of recently , as an idea to make something you use for fun for a business aswell.

 

[Forgot password]

Do you mind me asking how old you are?

 

[shadowx]

Do you mind me asking how old you are?

Very early 20s

 

[Gordon - Commercial Finance]

Lambo is my dream car so I have had it in my mind a long time.

Only the chuaffer aspect I thought of recently , as an idea to make something you use for fun for a business aswell.

Early 20s?

A lot of people have Lambo as a dream car, doesn’t mean they can afford it, or get funding for it.

I suspect you don’t have the money, and the way you’re avoiding questions about it suggest you don’t have a way of funding it either.

It is precisely because every 20 year old would love to have a business reason to own a Lambo and drive about in it, that funding would be very hard to secure for this.

If you’re serious about this, get serious about the steps you need to take to make it happen.

 

[gpietersz]

At that age the insurance on a Lambo will kill the profit if you are going to be insured to drive it.

 

[STDFR33]

Where I live there is a prerequisite that you need to be a drug dealer to be the owner of such a business.

 

[Forgot password]

Scrap the idea son but I like the way your thinking.

 

[sean213]

oh thats nice idea we can also fullfil someone dream by giving them luxury ride in super car

 

[Stas Lawicki]

I haven't a clue if you have the money to buy the car or not - your age doesn't determine your wealth - so assuming that buying the car is not a problem, it will be the insurance and maintenance costs that will be the biggest burden.

Some supercars require maintenance every so many 1000s of miles and the costs are not cheap when they do. Then you have wear and tear, tyres, brakes etc. But by far the biggest outlay will be your insurance - I would imagine you'll need a suit of coverage for the car, the people, 3rd parties, all sorts of things. There is also likely to be a limit on drivers under 25 or 30. Over a certain mileage your car with dive in value so you'll have a diminishing asset that is expensive to run.

If somebody takes it off the road (which many do because they have no idea how to drive a powerful car - plenty of examples of people crashing expensive hire cars) then you are left without an income whilst the insurance company decide weather to pay out or not. Then there's the speeding tickets, parking fines, congestion charges, minor scuffs and bumps... it will all add up and could become a real headache.

Having said all of that, if you have the money and time (and route to finding customers who are prepared to spend silly money for a few hours in a nice car, and you probably will) then give it a go. If you want an alternative, why not a car club? If you live near any of the large football clubs for example, why not trial a car club idea with some fancy car and see what the uptake is?

My conclusion however is that if you have the money to by a Lambo/Ferrari etc in the first place, you are probably not going to be bothered or worried about faffing around with rentals and wannabe racers. Complete your research before laying out a load of money and an expensive toy!

 

[ecommerce84]

Anyone that can truly afford to buy a car like that doesn’t need to hire it out to pay for it.

They buy it and they enjoy it, without any of us plebs getting anywhere near it.

 

[Chris Ashdown]

I can just imagine the bride and her father getting in and out of a lambo looking elegant at the same time, Makes you wonder why most use large saloon cars like Rolls etc

 

[alan1302]

Not much space in a lambo for a large dress and if there is a chauffeur not sure where father would sit unless they are wedged in the tiny back seats.

 

[Gordon - Commercial Finance]

Not much space in a lambo for a large dress and if there is a chauffeur not sure where father would sit unless they are wedged in the tiny back seats.

In a Huracan it isn't tiny back seats, its no back seats.

 

[Paul Norman]

There are a number of matters to consider here. I have some experience in the world of supercars.

1. Forget £3k a month as a cost of ownership. If the car does any mileage it is going to cost more than that - the insurance by itself could be that much.

2. If you can afford, and would love, a Lambo, go for it. Don't ruin it by making it a business.

3. There is a market for chauffeur driven, but it is not huge, and a Lambo is a restricted market. A wealthy business person, for example, might pay to be chauffeur driven, but a Lamborghini is not comfortable, and you cannot sit in the back and make phone calls! It is a play thing hire, a show off hire. People will pay for the experience of driving it themselves, but wisely you are not going that route.

4. Weddings. Nope. Not in any volume. And not as a chauffeur option because of the lack of seating.

 

[LeasingEval]

Love it - I am guessing the idea came about from fantasising about how you can get a sports car for free.

Rather than owning one and renting it out I do wonder if there is any mileage in an agency that can connect supercar owners with people who might like a lift in one.

 

[Financial-Modeller]

@shadowx buying the car and launching a YouTube channel might be a more effective way of enjoying the car and deriving an income from it. It hasn't done Shmee150 et al much harm.

There is even a guy in LA who owns a Huracan and joined Uber as a driver, to pick up fares in it. I guess he earns significantly more from filming the Uber passengers and their reactions than he does from Uber.

Insurance and depreciation will kill chauffeuring your Lambo as a commercial venture. It could be difficult to impress your clients sufficiently within the speed limit, that they consider the experience to merit the purchase price do you really want to risk your driving license for a passenger?

 

[Financial-Modeller]

Love it - I am guessing the idea came about from fantasising about how you can get a sports car for free.

Rather than owning one and renting it out I do wonder if there is any mileage in an agency that can connect supercar owners with people who might like a lift in one.

Not quite the same thing, but for rides in interesting cars with 100% of proceeds going to charity, check out Sporting Bears Motor Club

http://sportingbears.co.uk/
https://twitter.com/Sportingbears
[URL]https://www.facebook.com/SportingBears[/URL]

 

[Financial-Modeller]

Not much space in a lambo for a large dress and if there is a chauffeur not sure where father would sit unless they are wedged in the tiny back seats.

Do you know what a Lamborghini Huracan is?

Clue - its the car pictured in the OP's profile picture!

 

[Ian J]

Anyone that can truly afford to buy a car like that doesn’t need to hire it out to pay for it.

You might say the same about billionaires and their super yachts but many rent them out when they aren't being used

 

[alan1302]

Do you know what a Lamborghini Huracan is?

Clue - its the car pictured in the OP's profile picture!

I do know what it is, yes. And as you know there is a little bit at the back behind the seats - where the brides father could stow themselves.

And if your being picky I was replying to a post which just send Lambo without specifying a particular model...so i could have been talking about any model!

 

[shadowx]

I suspect you don’t have the money, and the way you’re avoiding questions about it suggest you don’t have a way of funding it either.

As someone on this thread said, yes age is just a number.

I already said I have funding. I don't need to post bank statements on the thread to prove it .

And of course you would think I wouldn't as you would want to make me join Gordon commercial finance as that's the business your in and advertising on your signature

 

[shadowx]

@shadowx buying the car and launching a YouTube channel might be a more effective way of enjoying the car and deriving an income from it. It hasn't done Shmee150 et al much harm.

Thank you thats also another good idea, but with Youtube will take at least 1 year for it to gain traction , of course can't become schmee overnight haha

 

[shadowx]

2. If you can afford, and would love, a Lambo, go for it. Don't ruin it by making it a business.

At the end of the day as you have mentioned Supercar is a money drainer.

Same like buying anything huge like a yacht or something it will cost lot of money to maintain. Or if you buy private jet same thing.

So the main idea behind it is to turn it into a money making asset. Plenty of millionaires renting out their private jet for charter so it makes them money at same time.

I found a company example of someone doing chauffer supercar
if you google supercarexperiences chauffer car hire you'll find it
"We offer over 30 different chauffeured cars perfect for weddings, proms, meetings, red carpet events, airport transfers or just simply to travel in that extra bit of luxury and style, we have a car for any occasion."

 

[Gordon - Commercial Finance]

As someone on this thread said, yes age is just a number.

I already said I have funding. I don't need to post bank statements on the thread to prove it .

And of course you would think I wouldn't as you would want to make me join Gordon commercial finance as that's the business your in and advertising on your signature

Yes, age is just a number. And no you don't need to post bank statements, I was just hoping you might be able to clarify whether you're sitting with cash, or if you have finance approved.

If you have the cash, you wouldn't be looking to use it for chauffeuring people, and so I don't think you do. And it has nothing to do with me wanting you to come to me for funding - in fact I wouldn't want the business because I know it would be pretty much impossible to get it placed. Again, hence my curiosity about the funding.

 

[Mr D]

You might say the same about billionaires and their super yachts but many rent them out when they aren't being used

Plenty of people want the experience of cruising without having to pay a few million for a hole in the water and crew.
Hence ability to rent out the boat when not being used by the owners.

Making money? probably not. Helping pay the expenses that would exist anyway? Yes.
Rich people generally not entirely fools.

 

[JEREMY HAWKE]

I don't think it's a very good business unless you already own or maintain a supercar

As already said it is nothing like running a normal vehicle

 

[Financial-Modeller]

I do know what it is, yes. And as you know there is a little bit at the back behind the seats - where the brides father could stow themselves.

Where?

 

[gpietersz]

@shadowx age is just a number, but insurers are very interested in numbers.

If you want to know whether is will be viable you need to find out how expensive the insurance will be, and what the running costs will be like.

You can find out what sort of rates people already in the business charge. You can then figure out how many days you need to rent it out to cover the costs, that will give you a basic break even number, and then you can think about whether it is realistic to get more hires than that. Thank about how you are going to sell this too and the costs of that.

 

[shadowx]

If you want to know whether is will be viable you need to find out how expensive the insurance will be, and what the running costs will be like.

Insurance costs are fine , it's 5-6k last time I checked.

You can find out what sort of rates people already in the business charge. You can then figure out how many days you need to rent it out to cover the costs, that will give you a basic break even number, and then you can think about whether it is realistic to get more hires than that. Thank about how you are going to sell this too and the costs of that.

Sure I'm going to do more research into competitor pricing

 

[shadowx]

I don't think it's a very good business unless you already own or maintain a supercar

I will own it when I start it. Hopefully in few months