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When you have been driving for a long time and have got to know the industry, it can be hard to know what the next step could be. How about starting your own fleet company? If you have the confidence to put together a team of trusted people who will deliver excellent service then maybe this is just what you should do. Although there is already an abundance of trucking companies there is certainly room for more. In fact, the average amount of trucks to start out with can be as little as six.
Have a look below at some of the things you should be considering:
Start Thinking Like A Business Person
For many drivers that take the leap and transition from a driver to a business owner sometimes forget that they are now running a business and are no longer just a driver. This is one of the main reasons a new trucking company can fail. You need to make sure you get your business management head-on and get yourself in the game. This means starting to think about things like writing a business plan.
Choose the Right Equipment
The different types of equipment you need will depend on the types of freight you plan to haul. You need to think about how much weight you're going to be pulling, how much space you're going to need and what you're going to be moving. Will you need regular trailers, flatbeds, refrigerator or maybe even ones suited to cars? Before purchasing you need to do some extensive research into what you're going to need to meet the needs of your clients. Another option is always to lease your vehicles. You also need to think about how you're going to maintain the equipment you buy. Having tools such as dvir management to hand can be really useful when it comes to looking after your fleet. Keep in mind that if you lease a vehicle you won't have control over how it is maintained and there will be usage restrictions.
Employees Or Subs?
There are two main ways to get drivers for your fleet and they're bringing them on board as employees or as sub-contractors. Often the least costly for a new business is to use independent operators this is because they have their own trucks, therefore, this means you don't have the cost of running, maintaining or insuring the vehicle yourself. However, you will find that you will pay higher fees for these drivers, and you will have less control over their behaviour. If you hire drivers, however, you need to supply the trucks and maintain them which means you need a much larger startup fund. The big upside to this though that you maintain complete control and can but company employee rules in place.
Understand Your Operating Costs
In order to become a successful business, you first need to understand what it takes to run one. It is essential that you keep your operational costs in order. Trucking can be a highly competitive industry so therefore it is important not to bid to high or even too low for jobs otherwise you risk losing valuable custom.
This is only a basic starting guide to help you start your own fleet company, there are many other factors to consider, do you have anything that should be included? Please share them in the comments below.
