Forums: Discussions for entrepreneurs and small business.

Hello,

I have been working for a Limousine company in NYC, for 2 years. It is time to open my wings and fly solo.

Due to the lack of money and the nature of the business, in the beginning I will be a one man show, running the business and providing the service (Driving) myself.

I am looking for help setting up and starting the company, from getting the name registered, getting all the required licenses to stablishing a system to handle everyday accounting/bookkeeping practices.

Thanks in advance.

Luis

Hello Luis,

Limo service in New York City?  Sounds exciting.  A great place to start is a business plan that identifies your target market, your "break even" point and sets the foundation for a promising business.  Although a lot of people attempt to do business without one a business plan gives you opportunity to set goals and along the way evaluate your progress.  As a limousine service I suggest incorporating your business versus being a sole proprieter.

As far as the licenses contact the New York City Taxi and Limosine Commission on the link below.

http://www.nyc.gov/html/tlc/html/home/home.shtml

If you need help with the business plan or setting up your business visit my website at www.sowglobal.com and click on the "Services" page.

Best wishes,

Dr. LA

 

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Dr. LA www.SpiritofWealth.org Your purpose for your life is not written on some cloud in the sky; the blueprint is mapped in your Spirit, designed by your mind, and materialized by your actions ~ Dr. LA

I`d for sure find an accountant you can trust, and perhaps a lawyer. We`ve repeatedly seen posts on SuN about how numbers look one way to regular folks, but very differently to someone with an accounting background.

Good accounting and legal advice can save you tons of heartache and money down the road, particularly with such things as registering and banking accounts, business and the IRS.

As they say, I can drive myself wherever I want...why hire a professional driver? :-) So too, you can probably figure out all the legal and accounting stuff on your own, why bother with a professional?

Limo services are everywhere, but having a driver who ALSO knows the in spots, where to get just about anything, and all the extras the passenger may be looking for, that`s hard to find.

Thank you Dr. LA for your reply.

The business will operate out of NJ not NY.

NJ is close to NYC but its not under the jusrisdiction of the  NY Taxi and Limousine Commission, just the way I want it ;-).

All I want is to set up a company that will provide transportation solutions to upscale executives and private clients located mainly in NY and NJ.

This company needs to meet all the legal requirements of both states.

Another area I need coaching on is the accounting/managing part of it. I need probably an Accountant that will set up an accounting system and teach me  some best practices. By this I mean, what receipts to keep, how to file them, what is to be paid through checks, how to handle account receivables/payables, etc. I am sure I will need to do my own bookkeeping at first, but that is ok as long as I am taught what needs to be done and how to do it.

too long a post, sorry about that.

all help appreciated.

Luis

Thanks Craig,

How is Cassandra doing these days?

Cool gremlin :-)

A good accountant is something I hope to find here, we`ll see.

I am also into computers and love teaching. Small world.

Luis.

Cassandra completed her GED, then an associate`s degree in sociology. She`s working as a liaison between troubled teens and whatever available services and programs are in the area. She has "streed cred" given her past, and she`s trying to get ahead in the traditional world, rather than fast money in the underworld.

My brother is the executor of our father`s estate, and has a background in accounting, general finance, and so forth. He thought he could also do things himself, but very quickly learned just how vicious are many of today`s attornies and the tax codes (across multiple states).

I`d suggest approaching successful business people you know, speaking with some of your regular clients who run important businesses, and getting some recommendations on an honest, very good CPA. You`ll get some excellent advice there, in ways we can`t envision as you`re starting up. Make it someone in NJ, who has some other clients in the transportation field.

Yes, you can do the basic accounting in Quickbooks, but where a great accountant shines is in helping you to develop the business and keep as much of the money as possible.

Thats great,

I am looking forward to that book.

Luis.

What maintenance schedule will you use for routine maintenance covering engine and drive train? If you want an education in proper maintenance, contact me. I can help you save a bit of money in that area.

Albert "AL" Rich

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Forging the Awareness of Value and Quality of AMSOIL for People and Business.

Albert Rich, ADR Oil Company, Wholesale Jobber;
Office 321-287-1981
www.ADRoil.com
Email; ALrich@adroil.com

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