For a whole variety of reasons, the bus industry continues to be of vital importance to the UK. It remains central to the economy, to plans to combat climate change and pollution, and to policies regarding social inclusion and accessibility. Yet, public and political comment on the industry continues to betray a lack of understanding and, it often seems, a degree of prejudice. This book offers a clear, non-technical, jargon-free explanation of how the bus industry works. The chapters examine: The costs of operation - what the components are and what drives them, particularly understanding the crucial importance of speed and predictability The revenue earned - how much is needed to enable operators to meet their three key objectives to cover their costs to meet their financial obligations to invest in the future The need for profit - why operators need to make a surplus and what they do with it The principal drivers of demand for bus services The bus product - its various attributes and why they are important The competitive environment in which the industry operates The customer interface - researching, listening and communicating with bus users Trends in fares and ticketing Public spending on buses