Part 3 of 3
There are a few final touch type things to consider before opening a new transportation business.
I’ll take it! You’re hired! The biggest mistake a lot of small business make is trying to grow too quickly, and jumping right into a purchasing ever piece of equipment they could ever need, with a full staff to operate it. This applies to the limo and bus industry many times quite directly. Instead of taking out a monstrous loan to lease or purchase an entire fleet, start small, one vehicle and one driver (yourself if possible) so you can ease into your market and get a firsthand feel of where you can take your business, get some real numbers and data under your belt. By doing this you can control the quality and grown the business over time, without overwhelming yourself.
What insurance do I need? This also depends on the state in which you operate and is a question you want to make sure you have answered accurately. You will need to sit down with an insurance agent to make sure you have the correct amount of coverage appropriate for your fleet and business. The minimums vary by each state so if you operate in multiple states you may need to have a policy that meets both states standards.
An entire collection of books could be written about the ins and outs of starting up and continuing to operate a transportation company successfully, but we hope you found this series of questions to ask y helpful.