Simple Tips for Operating a Courier Service
If you own a trucking company or a courier service, there are many things to keep your business running smoothly. When you search around Google, you’ll find many of the same “Tips and Tricks” to run a successful courier service. Because of that, we decided to make a more unique list of some simple principles that when taken into account can help immensely.
Schedule of expenses
An example of some monthly expenses: On the 1st, insurance for truck one. On the 16th, insurance for truck 2. Finally on the 19th, insurance for truck 3.
One would think this is no issue, but as a young and driven company, who can sometimes be impatient, little details such as an expense schedule can tend to be overlooked.
You don’t want to find yourself making a high income and not being able to take advantage of it. Running out of money before the next expenses come up, and not having enough to pay company employees because of being behind on expenses is not an ideal situtation. This is a real possibility no matter how high monthly income might be.
Finding the right system for your expenses is immensely important. Figure out when you get paid, when the cheques clear and work all of your expenses around that. This is especially important when you don’t have enough of a cash balance to operate on, or when you don’t have any credit lines readily available as backup.
Credit
This point is huge for a young business owner who has a company in the early stages. Don’t expect to get a $30,000 line of credit from one good operating year. As a young individual it will take more to prove yourself for the banks to recognize your apparent “success” as secure enough to provide any type of money.
Use your lines of credit wisely. They’re best for backup for expenses, or aggressive growth strategies for your business. Pay them off as fast as you can before you get caught in the credit trap.
Staying prepared
When your business operates on roads %100 of the time, expect to have maintenance and towing expenses. These can add up immensely when you least expect it. Therefore, don’t get too excited and spending unnecessarily. Save up a cash balance as mentioned before, this way you are prepared for any incidents that may occur.
These are some basic things to keep in mind if you decide to start a trucking company, or are struggling with your business. Of course, there are many other aspects to having a successful business, but organization is a key element.
