Your Business: A business organization requires constant calibration of many variables: employee levels, wage costs and benefits, licensing and insurance costs, and vehicle financing. All of these variables of course depend on the flow of business, which in chauffeured transportation can be referred to as the 3 Rs: runs, reservations, and referrals.
Expenses/Employment: With customer demand down across the board, employment in the industry fell. Revenues spent on labor costs went down with a noticeable drop in employee raises. Operators had to run on more frugal fumes to get through the year, with many reporting year-over-year revenue declines ranging mostly from 10% to 40%.
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