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- Category: Industry News
Driving Transactions founder Ken Lucci and PAX Training President James Blain are taking industry education to a new level with the debut of their Ground Transportation Podcast. With the goal of helping transportation operators achieve financial health and success, the duo draws on their years—and sometimes decades—of experience operating their own businesses and direct daily interactions with operators, as well as wisdom from industry leaders.
Lucci, who runs the financial and M&A firm Driving Transactions, is a longtime industry consultant and a devoted student of financial metrics and business valuations. Using data compiled from more than 250 industry companies across the spectrum of revenue streams, he says that he has identified the patterns and problems organizations in our space share that make it difficult to turn a profit.
“When you're in a business that only drops 10 percent of every dollar to the bottom line, to the net profit, you're going to manage all the dollars, nickels, and quarters,” Lucci said during the inaugural episode of the podcast. “You have to take a holistic view of the business to know where we are missing things, and you and I both see the same issues,” he says referring to Blain. On top of escalating costs of insurance and labor, the pair sees quality of service waning, or at least inconsistent, for many companies.
“If the meal that's being put on the table is supposed to be a five-star experience but is now borderlining on two or three, profitability is going to suffer,” he added.
Blain, who has just under a decade of experience in the industry, also works with operators across the country through PAX, which offers numerous courses that home in on profitability through safety and service training at every level of the organization. In addition to the basics of transportation, PAX modules encourage a culture of service that differentiates luxury transportation from other budget modes of transportation. Additional courses explore vehicle maintenance, hiring, procedures for specialty vehicles, office positions like dispatch and reservations, and even an Entry-Level Driving Training Program.
“You can't get to actually provide a luxury experience if you can't nail that fundamental part of it, and that goes all throughout the business. If you don't have the fundamentals of your financials in place, you can't grow there,” said Blain during the introductory episode.
Using a blend of humor and practical, battle-tested advice, Blain and Lucci also want to help company owners recognize the components beyond the profit and loss sheets that impact revenue, including the evolution of the industry, fierce competition of low-cost providers, and the retention of skilled talent as labor costs soar.
There are five episodes currently available, including interviews with Bruce Heinrich of LEADER Worldwide (and founder of PAX Training), Adam Warner of inDrive, and NLA/NELA President Brett Barenholtz of Above All/Maine Limousine. On October 30, their interview with Mike Marroccoli of EPIC Insurance Brokers & Consultants addressing how you can manage the rising insurance costs will be released. The show plans to post episodes weekly.
Visit groundtransportationpodcast.com to listen to episodes for free and for more information.
[10.29.24]
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- Category: Industry News
L to R: MLA Vice President Ray Gavino of Translogic Executive, President Len Joseph of On The Town Limousines, Secretary Japneet Suri of Executive CLS, and Treasurer Quentin Bassey of RSTQ Transportation
On Tuesday, October 22, the Maryland Livery Association (MLA) held their monthly membership meeting at Jimmy’s Famous Seafood in Baltimore. In addition to guest speakers, and a recap of the CD/NLA Show, the MLA held elections and announced their new executive board. Thirty members were in attendance.
The new MLA board is as follows:
- President: Len Joseph of On The Town Limousines
- Vice President: Ray Gavino of Translogic Executive
- Secretary: Japneet Suri of Executive CLS
- Treasurer: Quentin Bassey of RSTQ Transportation
The current executive board will serve until October 2026, and there are three board of director positions open that will be appointed in the coming weeks. Furthermore, the board is planning a meeting this week to organize a blueprint for the coming year.
In addition to the announcement of the new board, MLA welcomed Shane Shorter of Human Interest to speak about 401(k) and retirement programs for operators. Joseph also took some time to discuss the joint MLA and Virginia Limousine Association meeting in National Harbor at the Fall CD/NLA Show (a recap of the meeting can be found here). He also outlined the NLA's Best Practices for Commercial Auto Liability Insurance, which was developed by a team of operators to address the current challenges in the insurance marketplace. Several insurance company representatives were present at the meeting, including Bryan Johnson of the HILB Group, Alex Church of TIB Transportation Insurance Brokers, and Morgan Quinn of Philadelphia Insurance, and they participated in an informal roundtable discussion and answered questions from the membership.
With the association’s recent rebranding, a new MLA website is up and ready to navigate for members, vendors, and visitors. It features pertinent information of the organization’s history and growth, along with a MLA shop for purchase of MLA merchandise, including their new polo shirt.
Visit marylandliveryassociation.org for more information.
[10.28.2024]
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- Category: Industry News
Two California companies are joining forces: Charter motorcoach operator Coach21 has announced they are officially joining the Urban Worldwide family. While their name and logo will be refreshed, the company says their unwavering commitment to delivering exceptional service remains steadfast. The new branding will symbolize the Urban Worldwide name, reflecting their core values of reliability, modernity, and excellence.
Founded in 1997 in the San Francisco Bay Area, Coach21 has established itself as a preferred charter company, boasting a vast fleet of state-of-the-art motorcoaches. Under the leadership of Bob Fioritto, who has owned the company since 2017, Coach21 has continued to work to set the standard for quality service in the transportation industry. Fioritto will continue to manage operations through this rebranding process, focusing on regrowing the brand in the wake of the devastating pandemic.
Urban Worldwide CEO David Uziel
“After many years of my relationship with Bob, it was a no brainer to merge Coach21 into the Urban Worldwide family to help expand our footprint,” says Urban Worldwide CEO David Uziel. “Bob’s experience in the charter world was going to give me the teaching I need to feel confident about that side of our business.”
By integrating Coach21 into the Urban Worldwide family, the company says they will enhance their capabilities and expand their reach, ensuring that they can meet clients’ transportation needs more effectively than ever.
Through the transition, Coach21 says that customers will continue to work with the same dedicated team. Additionally, clients will benefit from the enhanced support and resources of Urban Worldwide, which will enable them to provide even greater capabilities and improved service.
In the coming months, the public can expect the new branding across Coach21 vehicles and communications.
Visit coach21.com or urbanworldwide.com for more information.
[10.28.24]