- Category: Industry News
DrivingTransactions.com is pleased to announce the rollout of Driving Financial Success, the first complete financial reporting and management program designed exclusively for the luxury ground transportation industry.
The Driving Financial Success program includes a comprehensive on-line financials course, financial guidebook, COGS formatted chart of accounts, and profit-and-loss report template tailored to the industry as well as strategic implementation assistance and monthly webinars on all subjects financial to assist operators implement the program and stay on course.
“Based on having reviewed and analyzed 250 company financials from $1M to $150M in annual revenue, we find there is a critical need for financial education as well as a financial reporting and management program tailored to our industry that provides much more data and metrics than standard templates,” says DrivingTransactions.com Principal Business Analyst Ken Lucci. “Completing this program and implementing these strategies will help business owners grow more profitably with industry specific financial data at their fingertips each month.”
The financial analysts at DrivingTransactions.com have performed comprehensive financial reviews of over 250 chauffeured transportation and motorcoach companies representing sellers, buyers, and lenders since 2018. Based on that experience, they have developed an industry-specific financial reporting and statement template based on a direct cost of goods model tailored specifically to the passenger transportation sector. Their Driving Financial Success program is designed to provide owners, executives, and financial managers of transportation companies with critical financial metrics to measure and manage on a monthly basis to assist them grow profitably.
As part of the Driving Financial Success course, participants will receive an array of financial curriculum elements, such as an on-line financials course, complete program guidebook, COG format chart of accounts template, and industry formatted financial statement template. Members also receive support and ongoing financial education, which includes post-course strategic implementation sessions, a monthly webinar on financial subjects, and an invitation to DrivingTransaction.com’s annual financial forum. What’s more, the firm is confident that their program will help operators, that they are offering a money-back guarantee.
“Global travel was affected dramatically by COVID, with almost 40 percent of industry operators in the US shutting their doors before the economy reopened,” says Lucci. “The pandemic made it abundantly clear that a solid financial foundation is critical to business survival. All aspects of travel have since returned in earnest and transportation industry demand exceeds capacity in many markets as the industry rebuilds. As fleets and operations are expanded, capital will be required and accurate financial statements with demonstrated profitability will be key. Not only is strong financial reporting imperative for the survival of any transportation business, given the current market conditions, it will also allow any business wishing to granularly manage their financial trends to drive profits higher and grow more in the long term.”
Visit drivingtransactions.com/driving-financial-success for more information.
- Category: Industry News
With the CD/NLA show in Orlando coming up in just three weeks, now’s the time to book your stay at the all-under-one-roof Gaylord Palms Resort & Convention Center or lose out on our special rates. Our room block closes in just a few days, on October 9. Register today to secure your accommodations at just $249/night—that’s including resort fees. Don’t miss out as rooms are selling quickly.
The educational component of the CD/NLA Show is developed by our Education Committee—co-chaired by Jason Sharenow of Broadway Elite and Karl Guenther of Statement Limousine—with operators of all sizes in mind. Whether you’re a seasoned veteran or a novice with just two cars, you’ll find programming relevant to your business.
On Monday, October 23, at 8:15 a.m., we’re thrilled to present an important session that deals with the economic side of the business: Mastering Financial Solutions: Loans, Leases & Banking Relationships. During the pandemic, many organizations got a firsthand look at the delicate balance between profitability and emergency funding through banking partners, especially during a crisis. Featuring expert speakers Tamra Ferris of Comerica Bank, Becky Laramee of All Points Limousine, and Michael Villani Jr. of Auto One Capital, and moderated by Sharenow, this education session is your gateway to understanding EIDL loans, traditional vehicle loans, leases, and how to develop that banking relationship for SBA loans and lines of credit moving forward.
In recent years, CD and the NLA have seen an incredible influx of new, smaller operators attending our shows who are hungry to learn and grow. With that in mind, we’ve developed programming exclusively with those operators in mind. On Tuesday, October 24, at 8:30 a.m., you’ll want to join us for Navigating Challenges and Opportunities for Small Operators. Featuring panelists Alicia Hayes of American Classic Limousines and Quentin Shackleford of All Class Limo, once again moderated by Sharenow, this session will help you discover a wealth of insights and strategies tailored specifically for small operators to elevate your venture to new heights. Designed to equip you with the essential tools for success in today's competitive market, we’ll analyze topics from pricing strategies to affiliate partnerships and beyond. This session is your opportunity to network, learn, and apply practical techniques that can reshape your business trajectory.
“This is the DO-NOT-MISS session of this year’s CD/NLA Show. Learn exactly what the panelists WISH they had been taught when they started in the business. Pricing, financials, affiliate relationships, and technology are just a few of the topics being discussed by the panel whose experience ranges from new in the industry to second generation. Tremendous information and a priority session for new and smaller operators,” says Shackleford.
In addition to our informative and entertaining classroom-style sessions and roundtables, the CD/NLA Show also has a number of dedicated activities designed to expand your business network while you exchange tips and ideas. If that sounds intriguing to you, then you’ll definitely want to take part in our acclaimed Operator Mentoring Program. In this event, you will be paired with a group led by two mentors, a young and dynamic entrepreneur as well as a wise, established leader—both seasoned professionals—for a conversation like no other. You can ask questions, seek invaluable advice, and swap ideas and tips with your mentors as well as your group. Limited to just 200 operators, this event is an absolute must for those who envision long-term growth and the fortification of their operations for years to come. Pre-registration is required, so click here to choose your mentor pairing.
Visit cdnlashow.com for more information.
- Category: Industry News
Online transportation booking provider Blacklane is getting an infusion of cash from car rental giant SIXT to become one of its most important shareholders, according to an announcement from Blacklane. The companies are looking to gain greater traction in the North American market while continuing their global expansion. Currently, SIXT has locations in more than 100 countries and is the fourth largest car rental agency in the US, while Germany-based Blacklane has grown significantly since its inception in 2011.
Blacklane’s chauffeur services will be available via the SIXT app in the US and other international markets starting in 2024, while leveraging SIXT’s fleet capabilities and connected services. Blacklane is also building out its City to City program, which offers flat rates between certain cities with 127 routes currently available. Additionally, Blacklane is on track to provide 15 percent of its rides with electric vehicles by the end of this year, and 50% percent by 2025.
“We at SIXT are committed to providing premium mobility solutions in car rental, carsharing, subscription, and ride-hailing services. We welcome Blacklane on board as an additional valued partner in our mobility ecosystem and are looking forward to jointly create synergies for our business with this partnership,” said SIXT COO Nico Gabriel.
“We are thrilled to win SIXT as our partner and investor in this funding round,” said Blacklane CEO and Co-founder Jens Wohltorf. “Their extensive experience in the ground transportation and travel industry, combined with our expertise in premium chauffeur services, create a powerful bond that will drive both company’s global growth and innovation and solidify Blacklane’s position as industry leader.”