Finding success as a motorcoach operator is no easy chore.

The pitfalls are countless, ranging from soaring costs for nearly everything an operator needs, to adhering to federal safety regulations, to finding enough business to keep the coaches rolling each day.

Sometimes, the list of obstacles can become overwhelming and an operator doesnt know whether to continue with the daily struggle or throw in the towel.

Here are five simple questions related to common operational challenges that could help small operators measure whether they have the wherewithal and resources to sustain a safe, legal and viable coach business.

Do you have money set aside for that fateful day when a catastrophic breakdown occurs?

For a motorcoach operator, regular bus maintenance should be a regular habit. Remember, your customers expect it and the law requires it.

Improperly or poorly maintained coaches are one of the primary reasons why small operators go under. A blown engine is just one example of a catastrophic breakdown.

Do you have enough cash set aside to fix or rebuild a blown engine or transmission, and still feed, cloth and keep a roof over your head -- and that of your family -- while that coach is out of commission?

One rule of thumb is that a small coach operator should have an emergency fund equal to about a third of a year's operating income (revenues minus expenses).

Another is to have two to three months of expenses put away coach payment(s), insurance, maintenance, rent, salaries (including your own), upkeep, and the like.

Saving for the inevitable catastrophe requires discipline. But its usually better to pay for emergencies with cash that has been earning interest rather than with cash for which you'll pay someone else interest.

Do you understand the revenue-cost equation?

The inability to understand the revenue-cost equation is just a symptom of a larger problem: lack of essential business skills. When drivers become coach owners, they become operators of small businesses.

According to experts, one of the most important components of successful business and money management is to understand your costs, especially cost per trip. That means knowing all of your costs, including fuel and tires, upkeep and maintenance expenses, licenses and registration, rent and other overhead, salaries, insurance, bus payments, road and fuel taxes, income taxes, hotels and meals, and all other expenses.

Understanding total trip costs also is essential because it gives you a basis for comparison - current figures to past, to other operators, and to industry norms.

Another reason for cost awareness is in your daily operation. Owners often are confronted with trip opportunities that, at first glance, seem to be profitable. If you know exactly how much it costs to run your coach or coaches, it will help you make a sound business decision whether that trip is, in fact, a good choice.

Are you paying your taxes? All of them? On time?

Neglecting tax responsibilities is another key reason small coach operators fail. Taxes can be confounding and confusing. Depreciation, deductions, exemptions, leases, withholding, Social Security, workers comp, business structure and simple record keeping all come into play. A home office and a self-employed spouse increase the complexity.

But shirking this responsibility will lead to legal trouble, steep fines and interest charges, overdue taxes and, ultimately, business failure.

As a coach company owner, you must make quarterly and year-end tax payments and because estimating taxes is complex, most successful operators seek help from an accounting professional, which costs money.

Without such guidance, however, certain factors affecting your tax situation, such as depreciation, can be difficult to understand.

Avoid tax problems by working with an accountant or business consultant who understands the motorcoach industry and who will remind you of quarterly tax payments - and who will warn you if your operation isnt generating the income to make those payments.

A good accountant can explain the ins and outs of estimated taxes and depreciation, as well as provide regular financial statements to let you gauge the success of your business.

Are you wasting money?

There is no end to the needless expenses that can drain a small operator dry. But, with a little self-discipline, these can be eliminated and that money kept in your pocket. Here are just a few money wasters:

Speeding. It burns extra fuel, creates excess tire and engine wear, and adds stress on the driver, who often also is the owner. It also can result in costly citations. And one speeding ticket can ruin a relationship with a client when theres a roadside stop by a highway patrolman.

Administrative and transaction fees are one of the easiest ways to spend money and have absolutely nothing to show for it. Watch ATM, fuel card and other fees. How many cash advances do you take each month? Do you know how much you're charged for each one?

Unneeded bells and whistles on your coach. A well-maintained bus; a clean bus, inside and out; appropriate coach livery; an A/V system that always works, and a well-groomed driver are fundamental to a professional coach operation. Pouring thousands of extra dollars into your coach for gadgets may be the wrong place to put your money.

Other money wasters: Impulse buying on the road; frequent dining at all-you-can-eat buffets, and constant snacking behind the wheel or at stops.

Eventually, poor eating habits can mean even more costs, like expensive medical bills.

Are you relying on credit cards to finance your business?

Credit cards often get small operators in a lot of hot water very quickly, saddling them with more debt than they can handle. Plastic money makes it too easy.

Before buying anything, ask yourself: 'Can I afford it?' Purchasing anything you can't afford can put you out of business.

Especially dangerous are the credit cards offering low introductory rates that last about six months and then shoot up to 20 percent or higher. 'No payment until next year' doesn't mean no interest or finance charges. Credit can be a lifesaver, but it's not free.

Relying on credit cards can be one of most devastating and expensive things you can do to yourself and your credit. Good credit is a precious commodity that you don't want to lose.