Are you in the ground transportation industry? Want to know how to improve your financials and prepare your business for sale? Listen to our latest “The Future of Ground Transportation” Podcast episode with Kenneth Lucci, where he shares his expertise on cost structures, KPI analysis, and more.
Here are some power takeaways from today's conversation:
How to start and sell successful business
What are Kenneth’s secrets of business success
Challenges during the pandemic and how to overcome them
Private equity and how to get in
Future of transportation industry
Episode Highlights:
[00:01:30] How to start and sell successful business
Kenneth discusses his background and how he started his business. He also talks about the importance of networking, building relationships, and delivering quality service to clients.
[00:11:13] What are Kenneth’s secrets of business success
Kenneth emphasizes the significance of having a clear vision, setting goals, and being disciplined. He shares his approach to managing his business and the role of technology in the transportation industry.
[00:22:26] Challenges during the pandemic and how to overcome them
Kenneth discusses the challenges he faced during the pandemic and how he adapted his business to the changing circumstances. He also talks about the importance of having a strong team and investing in employee training and development.
[00:38:06] Private equity and how to get in
Kenneth then talks about private equity and how it is only interested in industries where net profitability can be improved by a two times multiple. He explains that the hard asset business is associated with labor and that the introduction of electric vehicles (EVs) will lower the cost of goods for the industry. He concludes by discussing how technology is changing the industry and making it more appealing to private equity.
[00:47:02] Future of transportation industry
Kenneth emphasizes that it is the perception that the industry has an economic problem more than the reality. He explains that the industry is in better financial condition than it was when he was in it, primarily because everyone went up on their pricing, but he warns that this is a critical time in the industry to know and manage cost structures, including commercial insurance, which has gone up by 20.8% this year. He believes that buyers will only want to take on transactions where the risk to the buyer is calculated and known going in.
Resources Mentioned:
Connect with Kenneth on LinkedIn
Connect with Kenneth via email
Learn more about Kenneth’s business Driving transactions
About the Guest
Kenneth James Lucci is author, trainer, analyst and consultant. Quickly becoming the “GO TO GUY” in the Passenger Transportation business for M&A Services, financial analysis, business valuations, and consulting. His clients include banks, global networks, and regional transportation companies.
Lucci has a 40-year proven track record of starting, growing, buying, and selling companies, as well as consulting in four industries: security, life safety, transportation, and hospitality.
