San Francisco Limousine Company

Includes:

 

– Limited Liability Company (LLC)

– Uber Company (Partner) Account

– 2 years clear company history

– TCP License with CPUC

– SFO Airport permit

– Commercial Auto Insurance

– Drug test enrollment

– DMV EPN enrollment

– 4 Vehicles with drivers

– 4 Uber vehicle accounts (spots)

 

Vehicles: 

 

2014 Lincoln MKS

– This vehicle is considered as Uber BLACK/SELECT under uber system

– Estimated miles –  67k +

– Has Powertrain Warranty till 100-150k miles (needs to be confirmed if it can be transferred with sale)

– According to current uber rule, this vehicle can work with uber until 2022

 

2013 Lincoln MKS

– This vehicle is considered as Uber BLACK/SELECT under uber system

– Estimated miles – 79k +

– Has Powertrain Warranty till 100k miles (needs to be confirmed if it can be transferred with sale)

– According to current uber rule, this vehicle can work with uber until 2021

 

2012 Ford Explorer XLT

– This vehicle is considered as Uber SUV/BLACK under uber system

– Estimated miles –  146k +

– According to current uber rule, this vehicle can work with uber until 2020

 

2009 Chevrolet Suburban 1500

– This vehicle is considered as Uber SUV/BLACK under uber system

– Estimated miles – 247k +

– According to current uber rule, this vehicle can work with uber until 31st of January 2017

 

All of the vehicles are under uber platform. The company account and vehicle accounts under uber also has value because for the last few years uber has not been adding any vehicles to its Uber SUV and Black platform, which give my company advantage of having 4 accounts. When vehicles get old, the buyer can always renew the vehicles with the eligible cars under uber and continue operating.

 

Current Monthly Company Income Projection from Lease of 3 Cars:

Estimated:

 

The business model the owner is  using  is to lease the vehicles to drivers as they are considered an independent contractors. This business model may not be the best because I am skipping opportunities that could maximize the profit. However, it gives the owner flexibility and does not consume too much of his time to manage the vehicles and drivers. It is all pretty much automated, he only spend couple hours a week to calculate driver’s payouts based on their earnings from uber.

 

The lease prices varies depending on the car and the driver, it ranges from $500 – $650 per week. As a result the total monthly gross including driver’s earnings can ranges $13,000 – 16,000 and the company net can range 28-35% of it.

 

4 vehicles: 3 of them are leased to full time drivers and the owner is of them driving part time for work and for personal use.

 

Below I will show the estimate of how much can be generated for the company with the current operation and lease of only 3 vehicles.

 

Gross from leases only – $6800 (this is after drivers’ payouts)

 

Car Loan Payment – ($1000)

Insurance for 3 cars – ($1080)

Regular maintenance – ($200) (oil change etc.)

 

Projected Company Net – $4520

 

$54,240/year

 

 

4th Vehicle:

Currently I am driving myself the 4th vehicle. The Buyer has two options with 4th vehicle:

 

1) If to lease the 4th vehicle to a driver for $500/week, the buyer can generate another $2,000/monthly gross from it.

 

– Minus Insurance cost – ($360)

– Minus Maintenance – ($60)

 

– Estimated Net – $1580 (this can be added to the overall company net profit)

 

2) If the buyer drives the car full time under uber platform, he/she can generate $4,000 – $6,000/month

 

– Minus Insurance cost – ($360)

– Minus Maintenance – ($60)

 

Estimated Net – $3,580 – $5,580 (this can be added to the overall company net profit)

 

Company currently has $36k car loan, buyer  can transfer it with the company upon purchase or pay it off.

Estimate Return on Investment (ROI): 40-55%

 

Asking price:

 

– $125K OBO with 3 vehicles (excluding 2009 Suburban)

 

– $135K OBO with 4 vehicles (including 2009 Suburban)

 

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