WOMAN BUSINESS OWNER LEVERAGES LESSONS LEARNED AFTER 9/11 TO SUCCEED IN CURRENT ECONOMY:
Local Business Celebrates 10 Years in Business in October 2010
When the aftermath of 9/11 was complete, approximately one third of the limousine businesses nationally had been wiped out. Traci Tompkins, who purchased ABC Sedans and Limousines in October of 2000, survived. The skills she learned then are serving her well in today’s economically challenged marketplace.
For limousine companies like ABC, 90% of the business was driving people to the airport prior to 9/11. Now, it’s closer to 70% of the business. Travel businesses that survived 9/11 and the dot-com bust learned to revamp their business model and look for alternate streams of income.
“It was a difficult time,” says ABC owner Traci Tompkins. “I learned a lot about myself and my business. I was committed to running the business with dignity and integrity. I’d call creditors and say, ‘I have no money right now, but I will pay you.’ And I did.”
Traci stabilized and grew her business after 9/11. While ABC has experienced a dip in income during the current economic downturn, the company is poised to enjoy substantial growth over the next 10 years through additional revenue opportunities.