Limo Company Posts Record 1Q Revenues During Recession

Posted on April 7, 2009 by LCT Staff - Also by this author - About the author

JACKSONVILLE, Fla. — Dynasty Limousine has bucked downward market trends by posting the best quarterly financials in its 11-year history.

Year to date, revenues are up 11% and March was the best performing month in the company's history. Dynasty has consistently posted gains in 11 out of the past 12 months and is positioned for another stellar year. The company had gross sales of $700,000 in 2008, and anticipates $1 million if present trends continue.

Its 12-vehicle fleet includes nine stretches and limo-buses, two sedans, and an SUV. Dynasty was a finalist in the 11-30 vehicles category of the 2009 LCT Operator Of The Year Awards contest.

Marketing efforts, spearheaded by Pierce Fleming, vice president of operations, have resulted in a constant flow of new business.

"We simply have not bought into the bad economy mindset," said Fleming in a prepared statement. "Sure, we must work hard to achieve these results, but the business is there if you do the right things. Many of our competitors have already made up their minds that business is bad, and that makes it much easier for us. It all comes down to attitude. Clients can sense if you are stressed out and pressured to make the sale and it turns them off. We answer the phone with a smile and have a positive attitude every time with no pressure."

As competitors slash prices, Dynasty has taken a value approach. The company offers different packages and services to add more value to the charters, rather than just cutting prices. The company's 11 year history and A+ BBB rating have also resulted in a strong repeat customer base.

The prom season, which lasts through May 23, seems to be affected little by the doom and gloom economic forecast, Fleming said. The company received more than 500 reservation requests in March alone and is already booked out for many dates.

Dynasty Limousine also plans to open its second office location in Orange Park, Fla. The company already stores its larger limousines at that high-traffic location, adding to its visibility.

Dynasty will publish a targeted web site and focus marketing efforts from that location to Orange Park, Gainesville, Lake City, Palatka, and Ocala — all cities stretching from the Jacksonville metro region along the northeast coast of Florida into the north-central region of the state.

Dynasty Limousine plans to go public on Nov. 23 on the OTC BB market. So far, it has 51 shareholders and has retained Tiber Creek Corporation to assist with this process.

“Our main reason for taking the company public is to have easier access to capital, and to expedite our expansion efforts,” Fleming told LCT Magazine. “We are experiencing tremendous growth, and the company was up 34% last year.”

Once listed, Dynasty will be the first limousine company in the U.S. to have it's securities listed on a national exchange, said Fleming, who added that he has researched public companies for many hours. He said he has not found any other publicly held limo companies in the U.S., including listings on Hoovers.

For more information, visit Dynasty’s web site

Sources: Dynasty Limousine and Martin Romjue, LCT editor

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