Bus operators will have the chance to hear valuable business planning information at the BIC conference next week
By Amie Hickland | October 23, 2013
Bus operators will have access to valuable business planning information at the Bus Industry Confederation 2013 National Conference, which starts on Sunday.
The conference will host a variety of speakers including South Australia Public Transport Minister Chloe Fox and Adelaide Lord Mayor Stephen Yarwood.
Specialist Family Business Advisory House – FINH Managing Director David Harland will be a speaker at the Succession Planning for Businesses session on Monday.
“I’ve been asked to talk about how you manage succession planning in an industry where there’s some risks around dealing with bus line services contracts and the associated tendering system,” he explains.
“It’s not just about the significant investment in the tangible bus assets but the business value built around the relationships with the contracting party or parties.”
Harland says he will explain this in the context of a family business and the unique factors which contribute to its sustainability.
This can include older family members retiring and younger family members trying to step in when larger players are entering the market.
Harland says all businesses generally have similar operating challenges, although the case with most bus operators is having one major customer which in most cases is the government.
This can create some uncertainty around the reliance on future revenue when contracts are due for renewal through a tender process.
“The closer you get to that tender date the riskier your business becomes,” he explains.
Harland will be joined in the session by Pitcher Partners Partner Richard Shrapnel.
The conference will be held at Adelaide Convention Centre from October 27 to 30.