Time For Change

With all that has happened in my personal life this year (getting engaged, married and having a baby), I have been fairly hands-off as Managing Director of DrivenByQ. That has not been such a bad thing though. The business has been steady and it has not needed any drastic changes.

Over time, you can monitor things and identify where improvements need to be made. In addition, you can fine tune the direction you want to take before making any alterations. Quite critically for us, we are also nearing a point where a restructure is needed if we are to continue growing.

Now things are settling in my personal life I want to focus and begin making the changes I believe are necessary. If we are to continue growing the first thing is to assume the Duty Manager role for more than a week a month. This is not just to understand our current requirements but also to drive projects forward too.

Top of my agenda is to revisit our social media channels. Not only do they need updating but they need to ensure a coordinated approach in reinforcing our brand. This will also help with the ranking of our new web site when it is released. It will be key to the success of our digital marketing strategy too.

North Wales Castle Tours

This summer we had a lot of interest in Castle Tours of Wales. In fact we had people from all over the world travelling to north Wales to see the Iron Ring of Edward I. In some respect it is a welcome alternative to our airport transfer work which accounts for some 90% of our regular business.

I suppose if you think about it, we are the ideal company for such tours. We are only one hour from Manchester International Airport and we are based in north Wales with very good knowledge of the area. Most castles are difficult to access by public transport and parking can be an issue too so all the more reason to hire us.

Taking a chauffeur-driven car across north Wales to tour the castles of Conwy, Beaumaris, Caernarfon and Harlech means you can arrive at Chester Station in the morning and be back there in the evening. So even if you are staying in London it is a feasible journey.

Maybe we should make ‘Castle Tours of North Wales’ a feature of our new web site when it is eventually completed? We could add a whole of Wales Castle Tour too and make it last a full three days. It wouldn’t be the first time we have done it!

The Link Up

Last week I wrote about airport transfers being the bulk of our work at DrivenByQ. They account for over 90% of our turnover but it has taken a long time for them to become profitable. It has taken sacrifice too.

You see, the way to make money with airport transfers is not by charging the most you possibly can but by increasing volume to the highest amount possible and charging a rate which is competitive but reasonable.

At this point mathematics and the theory relating to economies of scale kicks in. Let us say for example that an airport transfer costs £60 one-way and the amount is divided equally in to thirds for fuel, vehicle costs and driver income.

Earning £20 for two hour’s work as a self-employed individual is pretty poor in this day and age but if you consider two journeys linking together (one to the airport and another one back) you can generate £120 in turnover.

At this point, all the costs are covered by the first journey (£40) so the whole of the return trip can be considered income by a driver. This leaves £20 from the first trip and £60 from the second as income, therefore quadrupling the revenue.

Jam Butty Ahead

It is no secret that each month the three of us who own and manage DrivenByQ meet up and discuss the business. We also discuss ways of increasing the turnover or improving the profit.

At the moment we are in a good position and we have money to invest. We have also recovered from the demand on our cash-flow which was required to cope with big increase in turnover this year.

My opinion is that airport transfers to Manchester International and Liverpool John Lennon are a great way to sustain our business but they are in such a competitive market, the margins are slim.

Therefore, instead of airport transfers being our speciality, they could be viewed as a foundation on which to build. After all, who does not like a bit of jam on their bread every now and again?

Boot Space

You may have noticed it has been three weeks since my last blog. I’m pleased to announce the reason is because I took paternity leave with the arrival of our new baby boy (ten days early).

Not only did it take me a long time to find the right car seat and push-chair for him but I have been absolutely amazed at just how much equipment and luggage is required for even just a short trip out in the car.

I always thought an executive saloon was big enough to cope with more or less anything. Now I’m not so sure. When you factor in the pram, the base, the baby seat, changing bag and any blankets it becomes a lot.

This week I have been looking at new cars for either myself or my wife. It seems the list of baby items required has become bigger and so too has the cost!