By John McAlister, Vice President at The Beringer Group As a successful business owner, you are faced with important decisions every day, which can sometimes make it difficult to focus on the larger issues that impact your business. For example, when was the last time you considered how your business is taxed? Taking the time…
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By Phillip Sockolov, Motorcoach Finance Product Specialist, Wells Fargo Equipment Finance 2023 was a watershed year as the motorcoach industry pulled out of the pandemic. Travel demand increased and the supply of coaches available to charter decreased, resulting in an uncommon opportunity to improve margins. As customer demand changes for travel and motorcoaches, we are…
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By Victor S. Parra, Contributor Running a private motorcoach company is a capital-intensive business. Balancing the need to upgrade your equipment to meet customer demands against high interest rates while still keeping debt under control, is always a major challenge for our industry. Recently, the Wall Street Journal ran a front-page piece entitled, “Bankruptcies Increase…
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By Victor S. Parra, Contributor Not too long ago I read an interesting article in the Wall Street Journal (WSJ) about selling a small company. The article was entitled, “Who will inherit the family business? Often, it’s Private Equity.” Needless to say, the article jumped right out at me. I suspect the issues these families…
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By Matt Hotchkiss, Senior Vice President, Bus Division Sales Manager, Commercial Vehicle Group, Wells Fargo Equipment Finance The motorcoach industry has always had its fair share of challenges, typically brought on by major economic events. The most recent impact to the U.S. economy was the COVID-19 pandemic, and prior to the pandemic, companies had to…
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By Sharon L. Broo, CTA, Contributor As professionals in the motorcoach industry, you’re probably saddled daily with never-ending responsibilities related to logistics, operations and planning. Perhaps offering travel insurance has never even occurred to you. Or you’ve thought about it, but the thought of adding one more responsibility to your plate is overwhelming. The good…
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By Victor S. Parra, Contributor When you read this headline, you may be asking yourself, “Why do I care? I’m not interested in selling my business.” Uncertainty seems to control a lot of decision-making these days. With Wall Street analysts continually touting their concerns for an economic downturn in 2023, business planners are hesitant to…
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