The latest LCT Fact Book & Industry Guide offers the industry benchmark STATS for finances, revenues, business costs, technology, and overall industry characteristics.
Below are several findings from the annual LCT Operator Survey.
AIRPORT BIZ: Q: Looking across all categories, what percentage of your business OVERALL comes from airport-related runs? A: 49%
PROFITS: The average overall percentage profit margin for chauffeured transportation companies in 2010: 17%, up from 15% in 2009. Small chauffeured transportation companies recorded an average profit margin of: 21% in 2010, compared to 18% for 2009.
RECESSION WOES: Q: Overall, did your company revenues grow, decline, or remain flat during the Great Recession period (January 2008 through December 2009)? Grow: 33%; Decline: 50%; Stay flat: 17%
BUSINESS COSTS: Average annual state and local licensing cost per vehicle: $664. Average monthly insurance cost per vehicle(excl. buses): $866.35.
Average number of vehicles in fleet as of 1Q 2011: 17
Median number of vehicles in fleet as of 1Q 2011: 8
WHO IS GREEN? Exactly One out of Five chauffeured transportation companies have their carbon emissions officially measured and verified by an outside third party. The same share of all chauffeured transportation companies offer at least one green vehicle in their fleets.
FUEL CONSUMPTION: Average number of gallons of fuel purchased per week by chauffeured transportation companies that consume 20 – 4,000 gallons per week: 513 [LCT eliminated respondents with either extremely low or high levels of fuel consumption].
CHAUFFEURS: 53% of operators have 1-10 full-time chauffeurs; 63% of operators have 1-10 part-time chauffeurs.
WAGES: Average hourly wages for Chauffeurs: $13.92. Dispatchers: $13.80.
24% of operators use tablet-style computers as part of their technology set-up.
46% of operators use an Internet-based lead referral service, such as Limos.com.
67% of operations have employees who use smartphones for work tasks/functions.
26% of operators use an online affiliate networking or verification site, such as RateButler.com.
Source: 2011 LCT Fact Book Operator Survey