Industry Research

Charter & Tour: Industry Stays Solid in Tough Year

Posted on April 30, 2010 by LCT Staff - Also by this author

While the number of respondents increased substantially compared to the 2009 survey, participation did not reach the level of statistical validation. Below is a sample of industry indicators:

  • The average gross revenue for respondents in 2009 was $3.35 million. The median was $1.95 million.
  • Average number of vehicles in fleet: 13
  • Median number of vehicles in fleet: 9
  • Median number of years in business: 15
  • Median annual cost per vehicle for licensing: $510
  • Median monthly cost of insurance per vehicle: $638
  • Median monthly finance payment per vehicle: $2,500
  • Median overall percentage profit margin for 2009: 7%
  • Average hourly wage for drivers (excluding benefits): $13.13
  • Average hourly wage of dispatchers and reservationists: $14.11
  • Average annual pay increase percentage for employees in 2009: 1%
  • Average of company revenue that goes to labor costs: 26%
  • 71% of operators maintain their fleets in-house
  • 29% outsource their maintenance
  • 39% of operators assess a surcharge for fuel
  • Only 36% of the respondents state that their customers can make real-time reservations via their Web site.

 

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