A Guide: How to Start a Transportation Business
Have a passion for being out on the open road? If so, it’s no wonder that you’re interested in starting your very own transportation business.
Make no mistake about it, taking on this type of venture is not going to be as easy as buying a vehicle and then offering your services. There are a number of roads you have to go down before you can even be deemed legally fit to trade in this industry.
For some advice on what it takes to start a transportation business, be sure to read on.
Home in on Your Business Type
You must home in the niche mode of transport you wish to offer. Only once you’ve made this all-important decision can you start drawing up a business plan and really get serious about your venture.
A few options that you have in this instance could include:
- Bicycle rental
- Limousine service
- Moving van
- Specialty transport (the transportation of medical supplies, for example)
- Livestock transport
- Air transport
- Marine shipping
- Senior services
- School services
Write Out Your Business Plan
Just like any other prospective business owner in any other industry, you have to start your venture by writing out a business plan. This will assist you in putting concrete plans into place with regard to all the things you need to do to get your company up and running.
If your business plan is to prove helpful going forward, it must contain the following elements:
- Competition analysis
- A financial plan (startup costs, expected further expenses, etc.)
- An operating plan
- An executive summary of all the services your transportation business can offer
Obtain Your Licenses
You will have to obtain more licenses than most other business owners if you’re to ensure that your transportation company remains on the right side of the law. As well as licenses that allow you to trade in your state, you also have to obtain licenses that actually allow you and your employees to hit the road.
In this particular instance, it’s important to take your business type into account. If you plan on running a taxiing service, for example, then you will need to obtain licenses that allow you to transport people for money. Should you wish to offer transportation to school, on the other hand, then you’ll need to obtain a license that states that you and your workforce are legally cleared to work with/around kids.
You cannot run a business in your chosen industry if you don’t have any means of transportation. Before you take on any custom, it’s essential that you purchase all of the equipment that is going to allow you to offer a high-level service day in, day out.
Don’t have a particularly good financial track record? Fear not, as there are companies out there that can help you to lease business vehicles, despite having bad credit. One such company that you could turn to in this instance is CVS Ltd. They offer bad credit car finance and business car contract hire to prospective sole traders like yourself, meaning you’d never have to let your poor financial history hold you back from realizing your dreams of owning a transportation business in the future.
Take the above advice, and you’ll be running your very own transportation business in no time.