A down economy presents challenges of every sort. One of the subtler is to nail down the one maxim that keeps everything in perspective. Over the last couple of months I have talked and listened to motorcoach operators and industry leaders who only reconfirmed my belief that when the going gets tough, the tough go shopping.
Hiring and retaining highly qualified drivers is among an operator’s greatest challenges. With increased ridership and greater focus on public transportation, the pressure to find safe and responsible drivers becomes more crucial as bus operations experience further expansion, but it is not necessarily risky business.
For too many years too many bus and motorcoach operators have practiced under-pricing as a means to remain competitive. Such single-minded competitive pricing as a standard operating procedure has plagued the motorcoach industry. The fact is this is happening because a great number of coach operators do not fully understand how to price their services. The fair and profitable approach to pricing comes down to some very basic business principles.