Luxury Coach & Transportation

January 2017

Magazine for the professional limousine, charter and tour industry.

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Page 39 of 93

36 LIMOUSINE, CHARTER & TOUR JANUARY 2017 WWW.LCTMAG.COM MONEY: COVER STORY D an Goff never shies from saying a limo service is first about the money. His fore- most question is, if you're not making enough of it, or not on track to make more, why are you doing this? Out of all the roles in a lim- ousine company, none is more vital than handling finances. To embody this approach, and to motivate other opera- tors to track every dollar, Goff has created a financial dash- board. More than just a clever arrangement of gauges and dials, it displays key metrics to monitor in real time every aspect of a limousine opera- tion. The co-owner of A. Goff Limousine and Bus Company, based in Charlottesville, Va., and serving Virginia, Washing- ton, D.C., and Maryland, will be detailing his concept dur- ing a seminar on March 16 at the International LCT Show. Goff's financial acumen derives from many years of working as an accountant, a bookkeeper, and then a bro- ker for various businesses from 1984 to 2000, when he founded A. Goff Transporta- tion with his wife, Ana Regi- na. He received an AAS in ac- counting with highest honors at the University of Kentucky. "I went into a lot of limou- sine and bus businesses and talked to owners, and saw many different philosophies," Goff recalls. "The common fac- tors are: What is the amount of money made, and what is the amount to invest? All business theories can be reduced to a number on the lower right cor- ner of an 8 ½ x 11 sheet of paper: Net profit. I'm always focused on results that way." Gone are the days when operators could run a business by gut, or count on a gener- ous revenue stream minus a few hidden negligible errors. In this competitive environ- ment, every dollar counts, Goff says. Solid finances are crucial now because interest rates, fuel costs, and inflation are likely to rise in the next few years, pressuring opera- To Profits Can Light The Way Dashboard A Operator Dan Goff has created a practical tool to track the important metrics of a limousine operation to spot problems in real time. By Martin Romjue, LCT editor Virginia operator Dan Goff makes sure he never compromises two things: Every dollar in his operations, and a 100% on-time chauffeur arrival rate. The quality drives the rates that boost the profit margins.

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