Running a small shipping business can bring in massive amounts of income. The ability to target a certain niche of products to ship is what a number of smaller shipping companies try to do. The business could partner with a wholesaler of products to handle their shipping regionally or nationally. Running a shipping business is going to incorporate a number of factors when it comes to being successful. A few large accounts might be all the business needs with the promise of continued partnership as long as rates/service quality stays the same. The following are things you are going to need when running a small shipping business.
Experienced Accountant
Even a small shipping fleet is going to require thousands of dollars weekly for fuel. The labor associated with driving a vehicle that requires a commercial driver’s license is going to be relatively high. You want to be able to understand when you are going to collect payment for certain shipments. Clients you have worked with for years might have more flexible payment terms. Newer clients should have some sort of payment from the start and the rest on delivery. The last thing you want is to spend money shipping items across the country only to be snubbed on the payment. You will also have to incur legal fees if you are going to get paid.
Liftgator For Delivery Pickups
You might enlist the help of personal drivers that have vans and are insured. Providing these people with a Liftgator can allow them to be more productive per day. You want a workforce that you can rely on rather than constantly having to find replacement drivers due to injury. You would be surprised as to how many more pickups and deliveries can be done when physical strain is not involved.
A Dispatcher
You are going to need a dispatcher to alert drivers of wrecks or rescheduled pickups/deliveries. Businesses pride themselves on quick deliveries in today’s digital age so flexibility can allow a small shipping business to land massive accounts. Communication is key as there could be a truck that breaks down leading to another driver needing to meet with them to offload the truck. Trucks should also have GPS on them so the locations of the trucks are always available. There are a number of robberies of trucks that might be carrying a load of valuable products.
Insurance
Your drivers will need to be insured to protect themselves and your business against the inherent risk of human or property damage on the road. Depending on your insurance coverage and provider, discounts may or may not be available if GPS tracking devices are employed across your fleet vehicles. The aspect that you also need to consider is the insurance of the products being shipped. The last thing you want is an accident to cost the business thousands rather than the shipment making the business thousands. Take the time to talk to a business insurance professional to see what they think would work best for your company.
Running a business of any kind can be stressful and shipping can be unpredictable at times. Manage the variables that you can and mitigate risks where possible.